Blockchain Market Update – January 2, 2019

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January 3, 2019 by
Blockchain Market Update – January 2, 2019

Bakkt: ICE, parent company of Bakkt, issued notice explaining that Jan. 24 launch date of Bakkt will be amended and an updated launch timeline will be given in early 2019. Additionally, Bakkt completed first round of funding of $182.5M from 12 partners and investors and has made several key hires to bolster project: Balaji Devarasetty, head of technology; Jide Laoye, technical product manager; and Peter Lee, product engineering director. Investor list includes Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners, Alan Howard, Horizons Ventures, Intercontinental Exchange, Microsoft’s venture capital arm, M12, Pantera Capital, PayU, the fintech arm of Naspers, and Protocol Ventures —Project Development

India: Reserve Bank of India pauses plans to release a digital currency, with an unidentified source quoted, saying: “The government doesn’t want the digital currency anymore. It thinks it is too early to even think about a digital currency.” Hesitancy echoes that which government displayed last week on topic of cryptocurrency regulation. Non-CBDC assets such as Bitcoin will remain in gray area for foreseeable future, one state minister told parliament, saying issue was being approached with due caution—Regulation

Paxos Standard: Large-scale traders are encountering issues with withdrawing their funds from Paxos, as they have started to hassle Ethereum traders with lots of questions when traders try to redeem PAX for USD. In a separate report, Paxos responds, saying they cannot fulfill a withdrawal request made via a third-party platform due to its strict KYC and AML regulations—Trading

South Korea FSC: The country’s top financial regulator, the Financial Services Commission, shares information about six cryptocurrency-related bills that have been submitted to National Assembly. Most recent bill seeks to protect rights of crypto owners and ensure safety and reliability of crypto transactions—Regulation

Iran: According to statement by Javad Javidnia, secretary of country’s Criminal Content Definition Task Force, any cooperation with Telegram on the issuing of their crypto would be interpreted as “an action against the national security” of the Islamic Republic and that such support “will be dealt with as a disruption to the national economy”—Other

HitBTC: Froze its customer’s accounts ahead of an annual Proof of Keys event. Multiple Reddit users complained about the frozen accounts, and a Redditor posing as the representative of HitBTC collected their charges and ensured immediate follow-ups. Proof of Keys is a movement to detect whether or not crypto exchanges hold funds that have been deposited into their private wallets in the past—Exchange

Dead Coins: Database of failed digital assets shows that while BTC was proclaimed “dead” 90 times in 2018, the list of dead altcoins is now approaching 1000 entries, reaching a total of 934. The database lists those projects that failed because of hacks, scams, or that which just died, along with parody coins that served no sincere purpose—Other

ICOsCiting data from, funds raised via ICOs in December is almost zero. There are only eight active ICOs ongoing, six of which have closed with no funds flowing in. In stark comparison, ICO fundraising back in January of 2018 helped channel $1.52 billion into projects—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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