Blockchain Market Update – February 6, 2019

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February 7, 2019 by
Blockchain Market Update – February 6, 2019

QuadrigaCX: Filed creditor protection request last week, on account of its inability to locate its significant crypto reserves, which may total as much as $137M. QuadrigaCX aims to preempt any lawsuits from customers hoping to recoup their losses. They will be locating assets that can be quickly recovered or sold off to begin reimbursing the 90,000 to 115,000 customers who had funds on exchange—Exchange

Kraken: Has completed transaction to make its foray into the futures trading world with the acquisition of London-based Crypto Facilities. Kraken reports that it paid “nine figures” for Crypto Facilities, a company that lists futures of digital assets including bitcoin, ether, litecoin and ripple. The exchange will also acquire Crypto Facilities’ index business as part of deal, which makes Kraken one of first crypto exchanges to offer both spot and future trading in cryptocurrencies—Project Development

Japan3 of Japan’s largest banks have canceled joint project of blockchain-based peer-to-peer money transfer service. Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group all noted joint venture was just duplicating their independent, individual efforts. Thus saw no need to continue—Project Development

CryptopiaOfficers investigating hack say Cryptopia might start to operate again within next few weeks, or at least sometime in Feb. No indications were made if stolen funds will be returned to clients—Exchange

Michigan: Federal court in U.S. state of Michigan passed down ruling that says BTC constitutes money. This development marks a positive step in wider adoption and recognition of cryptocurrency in state—Regulation

Facebook: Made its first acquisition of a blockchain startup company. Social media giant has quietly acqui-hired the team behind Chainspace: a smart contracts platform. An exact figure of the deal between the two firms has not been made available but Chainspace was looking to raise $4 Million from an initial round of funding—Project Development

PhilippinesCagayan Economic Zone Authority unveils comprehensive framework to regulate cryptocurrencies, with emphasis on ICOs. Framework places CEZA as principal regulating authority of crypto industry, with Asia Blockchain and Crypto Association serving as SRO to help implement and enforce the new rules—Regulation

HuobiU.S. arm of Huobi launches new fiat-to-crypto exchange, to list BTC, ETH, and Tether against USD, with more to follow after review and screening. Exchange comes from rebrand of Huobi’s U.S. partner HBUS. As per agreement, HBUS has licenced the Huobi brand and rebranded its retail trading platform to—Exchange

Bakkt Abacus Journal states a source close to both CFTC and Bakkt expects a potential approval and firm launch date in March—Regulation

GeminiTwo OTC trading desks say their accounts at Gemini were abruptly closed without explanation over attempts to redeem GUSD. The claims leveled against Gemini by the OTC desks were relayed under anonymity, for fear of reputational damage—Exchange

Chamber of Digital CommerceCanada’s largest blockchain trade association has merged with Blockchain Association of Canada, and is now named Chamber of Digital Commerce Canada—Other

“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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