Blockchain Market Update – December 21, 2018

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December 21, 2018 by
Blockchain Market Update – December 21, 2018

Polychain: Crypto hedge fund run by former Coinbase employee Olaf Carlson-Wee raises $175M in their second funding round, after raising $10M from Andreesen Horowitz and Union Squares Ventures last Dec. 2016—Project Development

U.S.: Lawmakers Warren Davidson and Darren Soto are introducing new bill that would exclude digital currencies from the 72-year-old definition of a security. This change in legal definition has been the centre of heated discussions for those in the industry who say the law is outdated for a digital asset class—Regulation

South Korea: Ministry of Science and Technology announced the South Korea Science and Technology Center will launch a blockchain business in 2019, in partnership with South Korea Internet Promotion Agency, South Korea Information and Telecommunication Industry Promotion Agency, and Information and Communication Technology Promotion Center. Ministry of Science and Technology plans to expand the public service-oriented blockchain projects from 6 cases (4 billion won, or $3.5 million) to 12 cases (8.5 billion won, or $7.5 million) next year—Regulation

TokenSoft, Coinbase: Security token offering platform partners with the exchange to provide an alternative custody solution for clients. STO issuers can now choose between self-custody through TokenSoft’s platform or third-party solutions, including Coinbase Custody. Coinbase Custody will be made available through TokenSoft’s new regulated broker-dealer affiliate, TokenSoft Global Markets, which is registered under the Financial Industry Regulatory Authority—Exchange

IOTA FoundationLaunched new hash function, the Troika, and they are offering a $220K bounty for anyone who can crack it. The new hash function was designed by cryptographers from cyber security firm Cybercrypt and is aimed to lay the cryptographic and encryption groundwork for what will become the final IOTA protocol—Project Development

F2Pool: The current shutdown price of Antminer T9 operating in China is  24,773 yuan ($3,597.27), which is now lower than the price of BTC, around 27,329 yuan ($3,968.43). Miners can now restart their Antminer T9s and use it to mine BTC at a profit again. Still, mining costs for rigs like S7, A741 and the M3 are still higher than price of BTC—Mining

Chainalysis: Research firm reports that only 37% of total BTC addresses are economically relevant, or held by people or services who own BTC, with 86% of those belonging to named services. The remaining 14% of the 37% of total BTC addresses are largely used to facilitate payments. This means that just 20% of the transactions in the Bitcoin network are actually used to move BTC between two different parties—Other

Coinbase: Launches its crypto trading platform in more markets as they plan an aggressive international push in 2019. Coinbase says they have expanded their products to several European countries and overseas territories, including Lithuania, Iceland, Andorra, Gibraltar, Guernsey, and the Isle of Man—Exchange

“B2B reporter – Content Manager – Contributor – Fintech – Blockchain – Cryptocurrency”

Simon Chou is a B2B reporter and content manager specializing in technology and finance. He has worked with many clients in the fintech and blockchain space. He holds investment positions in bitcoin and other large-cap cryptocurrencies, and has been reporting on cryptocurrency since 2017. Currently, Simon is the content manager for a major cryptocurrency exchange @HybridBlockHQ.

Name Price
Bitcoin (BTC)
Ethereum (ETH)
Bitcoin Cash (BCH)
Litecoin (LTC)
Cardano (ADA)
Dash (DASH)
Monero (XMR)
Stellar (XLM)
Bitcoin Gold (BTG)
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