Blockchain Market Update – December 28, 2018

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December 28, 2018 by
Blockchain Market Update – December 28, 2018

NVIDIA: Schall Law Firm, a national shareholder rights litigation firm, announces filing of class action lawsuit against NVIDIA Corp for violations of Securities Exchange Act of 1934. According to complaint, the company made false and misleading statements to market. NVIDIA touted its ability to monitor cryptocurrency market and make rapid changes to business as necessary, claiming to be “masters at managing our channel.” NVIDIA also claimed that any drop off in demand for its GPUs amongst crypto miners would not negatively impact company’s business because of strong demand for GPUs from gaming market. Based on these facts, company’s public statements were false and materially misleading, leading to investors suffering damages—Other

Diar Research: Upwards of 420,000 ETH have been liquidated from ICO treasuries so far in Dec, making it the largest withdrawal period this year according to Diar. Almost half of total withdrawn can be attributed to one single project, Filecoin. It sold off all of its holdings of 216,906 ETH. Another project which liquidated almost all of its ETH holdings was Substratum, withdrawing 8,931 ETH in December. Kyber also withdrew 66,454 ETH and is currently left with little over 3,000 ETH—Trading

China: Shanghai and Shenzhen stock exchanges have carried out investigations into 30% of companies listed on their exchanges that are performing operations pertaining to distributed ledger technology. Of companies investigated, less than half were able to demonstrate applications for blockchain technology, most frequently resorting to the words “exploration” and “research” when asked for demonstrations. 13 of the 23 companies suspected of having sought to associate themselves with blockchain solely to drive speculation—Other

VISA: Acquired Ripple partner Earthport for around $250 million. London-based company handles international transactions for banks and businesses, and partnered with Ripple back in December of 2014 to launch Earthport Distributed Ledger Hub in 2016. That same year, Earthport executed the first cross-border payment transaction received via distributed ledger for Santander UK, a first for UK banks. Visa’s acquisition of Earthport is designed to help the company boost its cross-border payments business—Financial Institution

Electrum: Reportedly ongoing hack against cryptocurrency wallet Electrum has seen malicious party steal almost 250 BTC (~$937,000). Subsequently confirmed by Electrum itself, the attack consists of creating a fake version of the wallet that fools users into providing password information—Other

Ontology: Microsoft Azure and Amazon AWS Marketplaces recently added Ontology ONT_Dev_Platform and Google is expected to do same in January 2019. Ontology blockchain DApp product is built on a cloud service, which includes Block Explorer, SmartX and Ontology standalone test environment. DApp will be available for free to users around world and can be deployed in just one click—Project Development

Kuwait: National Bank of Kuwait has announced launch of cross-border payments service powered by Ripple’s blockchain technology. Service currently allows transfers to Jordan, with more countries to come—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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Ethereum (ETH)
Bitcoin Cash (BCH)
Litecoin (LTC)
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Monero (XMR)
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