Blockchain Market Update – November 2, 2018

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November 2, 2018 by
Blockchain Market Update – November 2, 2018

Jack Dorsey: Twitter and Square CEO Jack Dorsey tweeted the link to Bitcoin’s white paper to more than four million followers, marking the 10-year anniversary of the paper’s release—Other

Tether: Tether Limited, the issuer of controversial USD-pegged cryptocurrency stablecoin tether, has confirmed that it has established a banking relationship with a small financial institution based out of the Bahamas. The cryptocurrency firm announced publicly that it has formed a banking partnership with Deltec Bank, a 72-year-old financial institution located in Nassau. Tether further published a letter from Deltec apparently confirming that the firm is holding $1.83 billion at the bank, more than enough to cover the assets backing the 1.78 billion in outstanding USDT—Exchange

Hong Kong: Securities and Futures Commission on Nov 1st issued a statement setting out a new approach which aims to bring virtual asset portfolio managers and distributors of virtual asset funds under its regulatory net and also sets out a conceptual framework for the potential regulation of virtual asset trading platforms. In light of the significant risks virtual assets pose to investors, the SFC will adopt new measures within its regulatory remit to protect those who invest in virtual asset portfolios or funds. The SFC will impose licensing conditions on firms which manage or intend to manage portfolios investing in virtual assets, irrespective of whether the virtual assets meet the definition of “securities” or “futures contracts”—Regulation

Dapper Labs: Startup that spun out of parent firm Axiom Zen to continue working on CryptoKitties has secured $15 million in funding. The round was led by Venrock and was joined by Google Ventures, SamsungNEXT and Andreessen Horowitz, as well as names not normally associated with venture investing such as the talent agency William Morris Endeavor and e-sports firm aXiomatic.—Project Development

Grayscale: New York-based Grayscale, a subsidiary of Digital Currency Group, brought in $81.1 million in total investments for the third quarter, according to a company report published Thursday. The 33% uptick from the previous three months brings Grayscale’s inflow for the year to $330 million, its strongest year-to-date total since firm started 5 years ago. At this time last year, the firm had raised a total $25.4 million by comparison. The firm now has $1.5 billion in customer assets.—Project Development

Peru: South American country has plans on launching its own digital currency, the PeruCoin, as the country’s official state-backed cryptocurrency. It becomes the second country on the continent to launch a cryptocurrency behind Venezuela and the Petro coin.—Other

Coinsource: Bitcoin teller machine operator Coinsource has just become the 12th crypto company to receive a license from the New York State Department of Financial Services. The firm announced approval of the BitLicense on Thursday, with the firm’s general counsel Arnold Spencer noting that it was the first granted to a bitcoin ATM provider to date. The company already has 40 BTMs in the state, having been operating under a provisional license pending full approval—Project Development

Unchained Capital: Blockchain financial service company Unchained Capital will now offer multi-signature and multi-institution cold storage solutions for borrowers who leverage its crypto-collateralized loans service. According to a company statement, the cold storage solution will be multi-institution and collaborative with code-level controls for the safe storage of cryptocurrencies.—Project Development

Binance: Binance Uganda signed up 40,000 users in the first week since the world’s largest crypto exchange launched its local subsidiary in October. According to a paper by Stanford University researchers recently published in the American Economic Journal, 74 percent of Ugandan households are unbanked. —Exchange

Ledger: Revealed the company’s contingency plans for the upcoming Bitcoin Cash hard fork scheduled for Nov. 15. Ledger explained to its customer base that the organization will be pausing bitcoin cash services on Nov. 15 and the company plans to wait until a dominant chain appears to reinstate BCH services—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.

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