Blockchain Market Update – December 24, 2018

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December 24, 2018 by
Blockchain Market Update – December 24, 2018

Tencent’s Wechat: Has been updated to a new version v7.0.0. The WeChat Pay of this new version is able to support blockchain-based invoice. As reported earlier, the State Taxation Bureau of Shenzhen in South China announced official debut of “Blockchain-Based Invoice on WeChat Pay” on Dec 11th—Project Development

Bakkt: Coindesk speculating that Intercontinental Exchange is likely to delay the launch of Bakkt, its Bitcoin futures trading and custody platform, for a second time. The company last set Jan. 24 as the launch date. However, ICE has yet to receive the necessary approvals from U.S. Commodity Futures Trading Commission and at the pace the agency has been moving, it is unlikely that approvals will be secured in time to hit that target—Project Development

SEC: US Securities and Exchange Commission’s Office of Compliance Inspections and Examinations announced its 2019 examination priorities. OCIE publishes exam priorities annually to promote transparency of examination program and provide insights into areas that it believes present potentially heightened risk to investors or integrity of U.S. capital markets. This year, particular emphasis will be on digital assets, cybersecurity, and matters of importance to retail investors, including fees, expenses, and conflicts of interest—Regulation

Upbit: Officials at South Korea’s leading cryptocurrency exchange have been indicted for fraud. They allegedly made bogus crypto orders worth approximately $226 billion and sold 11,550 BTC to around 26,000 investors. Upbit has denied the charges and insisted that it did not commit fraud, engage in wash trades, or trade cryptocurrencies that it did not own—Regulation

Ebang: Crypto mining equipment maker Ebang has refiled its draft IPO prospectus with Hong Kong Stock Exchange, stating it has seen significant decreases” in revenue and gross profit in Q3 2018. According to the HKEX filing database, Ebang submitted new draft application on Dec. 20 with disclosures of financial information up until June 30 of this year, after its first application to sell shares on exchange lapsed—Mining

Raiden Network: Announced Dec 21st that Red Eyes release is now live on the Ethereum mainnet. Red Eyes release is an alpha testing release, the first Raiden release on the Ethereum mainnet. The release is not production-ready and is intended only for testing—Project Development

Bitmain: Dovey Wan indicates that Bitmain to begin drastic layoff in the coming week. Wan, citing sources, claimed that up to 50% of its staffers could be purged. Bitmain has upwards of 2,000 employees—Mining

Lightning Network: Citing data from explorer, Lightning Network witnessed continuous uptrend in number of nodes and channels. Currently, nodes sustaining network reached 4,718, rising by 13.50% in past 30 days, while channels hit 15,266 in number, increasing by 24.40%. The capacity of Bitcoin’s most prominent scaling plan is now 497.33 BTC, an equivalent of $2,017,175—Project Development

“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.

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