Coin Market Unmanned
On the afternoon of October 30, users of the digital currency exchange BISS (coin Market) were unable to withdraw coins. The withdrawal showed the server error, and the customer service window also became a decoration, and no one responded. The BISS team is suspected to be missing. The
BISS exchange was established in 2018, almost at the same time as BIKI and Matcha. The official information shows that its member users are nearly 15,000, and the total number of users reaches 720,000. I obtained tens of millions of strategic investments from many top institutions such as Zhen Fund, Jingwei China , Ceyuan Venture Capital, BlueHill, Metropolitan Capital, Nirvana Capital, Alphacoin Fund, etc. The worst thing in the black swan event of
is undoubtedly investors. Starting from the evening of 30, the price of BISS platform coins began to plummet. As of the time of publication of this article, the price of BISS villa coin has fallen by 72% in the past 30 days, and the decline is still continuing.
missing contact Miyun
There were many different opinions on why they lost contact. It seems a bit far-fetched to say that the founding team runs away with the money.
's missing news appeared the night before, on the 29th, BISS invited Mr. Bao to conduct an AMA live broadcast event.
Bao Erye himself also confirmed the rumors of BISS missing on Weibo on October 31. The explanation is obviously unreasonable. In addition, exchanges and APPs can still connect to servers, which is inconsistent with the previous runaway team.
However, CoinVoice observed that the BISS media communication group has been dissolved by the group owner.
So a more reasonable explanation is that the sudden situation of BISS was investigated by all employees. The biggest risk behind is the possibility of facing suspension of operations. The reason why
was investigated is because BISS is suspected of providing investment channels for US stocks to domestic investors. As an emerging exchange, the differentiated experience of
BISS with other exchanges lies in its "coin stock trading" model. You can directly purchase US stocks with USDT, a stablecoin in the currency circle.
The following is the introduction of currency stock trading on the official website of BISS. What is certain that
is that BISS does not have such operating licenses and has not obtained transactions from relevant institutions.
In the current situation where my country's laws are not clear about cryptocurrencies as assets and involve capital outflows, it is illegal to open up overseas stocks and cryptocurrencies to users without approval and supervision.
According to my country's " Securities Law " provisions: No unit or individual may operate securities business without the approval of the securities regulatory authority of the State Council. Domestic investors participate in overseas securities market transactions through the platform website or mobile client of domestic Internet companies. Since there is no corresponding legal guarantee and the securities investment accounts and funds are overseas, once a dispute arises, investors' rights and interests will not be effectively protected. When BISS launched "coin stock trading", it should have been well aware of this.
suddenly crashed
Currently on Coinmarketcap, there are more than 2,000 exchanges included, and more small exchanges have not been included.
And since the historical high of Bitcoin in 2017, the cryptocurrency market has fallen into a long bear market.
resolutely joins the BISS team in this big bear market, holding registered and licensed by the US NFA. The investment institutions also include many top institutions, such as Zhen Fund, Jingwei China and Ceyuan Venture Capital. The experience of BMAN, the founder of
, is also quite glamorous. He used to be the co-founder of the marketing internet celebrity "Li Jiaozhou Team", and now he has quite successful experience in the currency circle.
BISS seems to intend to get out of the old path of most small exchanges. In its official website introduction, BISS takes the slogan of "doing no evil" and says that it wants to "work hard to become a clean stream in the currency circle."
At the beginning, it was BISS's characteristic that attracted Zheng Haibin to join the BISS team. In his opinion, BISS is much more reliable than the large logarithmic exchanges on the market. After all, the cost of opening an exchange is very low now, which leads to a mixed bag of industry.
At the beginning of this year, BISS founder BMAN wrote a recruitment article with enthusiasm, saying that "the bear market is a truly suitable time for entrepreneurship" and "continue to move forward in 2019."In that recruitment, his understanding and experience of "US stocks" became his focus on considering candidates.
At that time, BMAN, who wanted to use "coin stock trading" as a breakthrough in the market, probably didn't expect that "coin stock trading" would become the end benchmark for BISS. As the roar was moving forward quickly, the car suddenly turned over.
sounded the alarm
Since October 25, blockchain has become a phenomenon in China, entering the public's vision, and the search index has increased exponentially. The reason for its successful emergence comes from the fact that the country regards blockchain technology as one of the important strategic goals of scientific and technological innovation.
Under this trend, there is no shortage of hype in the market.
At the same time, the People's Daily has also published several articles to prevent the use of blockchain to issue virtual currencies and speculate on air coins.
The first thing that the regular army did when entering the field was to go up the mountain to suppress bandits. The country has clearly developed blockchain as an innovative technology, and people in the circle also know that the things done by people in the currency circle and the chain circle are very different.
At present, in terms of BISS, the upper-level regulatory authorities have at least sent a clear signal - strengthening supervision of the cryptocurrency market.
Even if there is no "coin stock trading", the exchange is still nervously watching the dynamics of BISS.
01 BTC leverage ETF
Against the backdrop of Bitcoin ETF being rejected in the United States, BISS has successively launched Bitcoin leverage ETFs and Ethereum leverage ETFs, which may also involve illegal operations.
On September 18, the BISS of the currency market launched the "BTC Leveraged ETF". According to its official website, ETF products of other high-quality cryptocurrencies will be opened one after another in the future.
may be a careful reader who has discovered that the ETF products launched by BISS in this coin market are actually not exactly consistent with the previous article. To put it simply, it is a Bitcoin ETF product with leverage.
So, what are the characteristics of Bitcoin leveraged ETFs in BISS that are worth paying attention to?
can make profits in both directions. Previous Bitcoin ETF products were only spot, and investors could not obtain additional returns when selling shortly (just retaining returns). Moreover, when investors believe that there will be a trend, it is difficult for spot to obtain greater returns.
now has a leveraged ETF, and you can choose to short or bearish. Compared with simple spot, you have greater selectivity and stronger profitability.
Take today's market (September 19) for example. Bitcoin plummeted by 5%. If investors bought 2- or 3-fold BISS BTC in the currency market yesterday, they could get 10% or 15% excess returns.
02 BISS membership registration system
has a membership level of up to 6 levels, and directly indicates that there is a "reward for recruiting people", which may involve pyramid schemes here. If the regulatory authorities only target BISS due to these issues, then panic only belongs to a small group of BISS users.
After the country emphasized the status of blockchain, some people are already worried that after the intervention of state forces, the currency circle that has been growing wildly under regulatory gaps for a long time may be cleared, thereby "realizing the reputation" of blockchain. After all, those projects that make money under the banner of blockchain are obviously not conducive to the promotion of blockchain technology.
(Author: CoinVoice, the content comes from the "Dede" content open platform of Liandede; this article only represents the author's views and does not represent the official position of Liandede)
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