Hodler's Digest, Nov. 26-Dec. 2: Satoshi Makes a New Friend, Buterin Gets Negative Over Centralized Blockchains

Ethereum co-founder Vitalik Buterin said this week in an interview that the misapplication of blockchain technology in some industries leads to "Wasted time." Buterin noted that although there are a high number of companies that try to establish higher standards and transparency by using blockchain tech, he does not believe that blockchain can be applied usefully in every industry.

Erin specifically criticized the proprietary nature of corporate blockchain projects from tech giants like IBM, noting that crypto and cross-border payments are suitable industries for the technology's use.

"If you've got time, it will arise. It will not happen within three months, or one year, but in two to three years, and this is the golden time to be in crypto," - Tom Lee, major Wall Street crypto bull and co-founder of Fundstrat Global Advisors.

In contrast to trading through a crypto exchange itself, OTC crypto trading will allow institutional investors to conduct direct trades between each other.

Among the founding members of the organization include Mike Novogratz's crypto merchant bank Galaxy Digital, global financial services firm BTIG, fintech firm Paxos - of recently-launched stablecoin PAX - and crypto liquidity solutions provider GSR. The group plans to work with regulators to create "Comprehensive standards" for digital asset market participants.

The partnership, announced via a tweet and then at a New York crypto conference, supposes that the new products would use Nasdaq's SMARTS Market Surveillance system, alongside VanEck's MVIS digital asset pricing indices.

The crypto markets are slightly in the green at the end of the week, with Bitcoin trading at $4,128.

The top three altcoin losers of the week are ZeusNetwork, Cyber Movie Chain, and TRONCLASSIC.For more info on crypto prices, make sure to read Cointelegraph's market analysis.

Crypto mining giant Bitmain is facing a class action lawsuit of $5 million that alleges the company mined crypto for its own benefit while its customers' devices were in the process of setting up.

OFEC has managed to identify two crypto addresses associated with the alleged Iran-based criminals, with 7,000 transactions in Bitcoin and around 6,000 BTC moved since 2013.Bulgarian Prosecutors Detain Three Hackers Who Reportedly Stole $5 Mln in Crypto.