Blockchain Market Update – December 31, 2018

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December 31, 2018 by
Blockchain Market Update – December 31, 2018

University of Cambridge: Report shows total number of crypto users is 139M people, with 38% active in market and majority of them individual crypto holders as opposed to merchants and hedge funds—Other

Open Node: Rejects Roger Ver’s offer of $1.25M if they build their project on BCH instead of BTC. Open Node tweets: “Our vision of a better, more open financial system is only possible with BTC.”—Project Development

Bitmain: Wu Jihan and Micree Zhan may step down as CEO of Bitmain in near future. Next CEO is speculated to be Mr. Wang who has been part of Bitmain for some time. Source revealed that decision has not been confirmed yet. Another unnamed source of Odaily states that Bitmain is considering ceasing all mining operations and has already commissioned an equipment dealer to dispose of used Antminer S9s. Company will potentially lay off more than 500 employees in charge of mining business. Jiang Zhihua, marketing director of Bitmain, makes no comment—Other

Ledger: Claims that recently uncovered vulnerabilities in hardware wallets are not critical in official Medium blog post. At the 35C3 Refreshing Memories conference in Berlin, researchers claimed that they were able to hack Trezor One, Ledger Nano S and Ledger Blue cryptocurrency wallets. In the post, the company explains that there appeared to be “three attack paths which could give impression that critical vulnerabilities were uncovered,” but according to them “this is not the case.” Reason Ledger says that vulnerability is not critical is that “they did not succeed to extract any seed nor PIN on a stolen device” and “sensitive assets stored on the Secure Element remain secure.”—Other

Wall Street Journal: Suggests BTC’s correlation with gold has been high recently. Citing data from research firm Excalibur Pro, BTC has traded at 0.84 correlation to gold over past five days, where -1 indicates complete inversion and +1 perfect correlation. Moreover, Bitcoin has traded at 0.77 correlation to Chicago Board of Options Exchange’s Volatility index, a benchmark index for U.S. equity market volatility—Trading

Japan FSA: Financial Services Agency, Japan’s financial watchdog, published report on country’s crypto market, presented by Study Group on the Virtual Currency Exchange Services. To mitigate the leakage of virtual currencies, the study group recommends that exchanges should maintain a dedicated reimbursement fund and crypto-related services providers should disclose financial statements. For ICOs, the group recommends a set of regulatory frameworks and wants investment type ICOs to be regulated like any other security firm—Regulation

Kobre & Kim: Lawyer Jake Chervinsky says that layoffs done by many crypto companies may have created a new risk: disgruntled former employees often become whistleblowers, especially if they have valuable intel that entitles them to an SEC or CFTC bounty award—Other

U.S. SEC: Charges 1Pook Ltd. (also known as and its Austria-based CEO for allegedly violating the federal securities laws in connection with security-based swaps funded with BTC—Regulation

HuobiPlans to launch company’s first exchange dedicated to EOS in Q1 of 2019. Exchange will be reportedly launched by Huobi Pool, Huobi’s cryptocurrency mining arm. Cao Fei, CEO of Huobi Pool, described launch of EOS exchange as “the next logical step in our support” as an EOS Block Producer—Exchange

Thailand: Likely to introduce key digital laws, especially the Cybersecurity Act, in 2019. Paiboon Amonpinyokeat, member of National Cyber Security preparation committee and cyber law expert, notes that cybersecurity bills are expected to be effective before their election, so it should come into effect by Feb. 2019—Regulation

Ethereum 2.0: Ethereum developer Raul Jordan expresses enthusiasm for coming 2019, as all Ethereum 2.0 block operations, according to him, are accomplished. Block operations include Casper slashings, attestation processing, deposit handling and Rando—Project Development

Bitfinex, Ethfinex: Will be down for scheduled maintenance on Jan. 7, 2019, to perform data migration to dedicated servers. Both exchanges will be down for up to 7 hours to complete migration, and all features across both platforms will be offline for the duration of the migration—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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