Blockchain Market Update – November 22, 2018

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November 22, 2018 by
Blockchain Market Update – November 22, 2018

Amazon: Hit with major data breach but did not disclose how many people were affected or where they are based. Amazon is adamant that it was not a breach, but a technical issue that posted customer names and email addresses to its website. This same technical issue may be why crypto exchange Upbit suspends all services due to server errors on Amazon’s part. Other affected exchanges include Coinone, Gopax, BitSonic and Coinrail—Other

Coinbase: Announced BCHABC chain will retain the designation of BCH. Coinbase Pro and Coinbase Prime resumed trading of BCH on Nov. 20—Exchange

Binance Labs: Invests $3M into Koi Trading, an OTC trading operation headquartered in San Francisco, who aims to be a compliant global option for private crypto liquidity. They also offer assistance with data science, quantitative research, and compliance consulting work—Exchange

Telegram: In an investor update from September, Telegram Open Network claims it is 70% complete. Notably, the update notes that the virtual machine required to execute smart contracts on TON (similar to Ethereum’s EVM) is already ready to deploy—Project Development

Switzerland: Financial Market Supervisory Authority has established maximum ratio of crypto assets to total capital of the country’s banks, stating it should not exceed 4%, a limit that refers to the “on book” movements of the institutions, and not to those of the clients themselves. This approach may become standard for other international financial institutions—Regulation

AERGO: Secures $30M from investors such as Sequoia Capital China and GBIZ to develop its end-to-end open-source platform for distributed services—Project Development

Bitcoin Cash SVRecent block reorganization puts BCHSV in hot water as such self-reorganization should not be possible in any decentralized protocol, as noted by Peter Rizun, Chief Scientist of Bitcoin Unlimited. View also shared by Cornell University professor Emin Gün Sirer—Other

Giga Watt: U.S.-based BTC mining firm declared bankruptcy, revealing that it still owes 20 of its biggest unsecured creditors nearly $7 million. This includes utilities provider in Douglas County base, with a claim of over $310K; and electricity provider Neppel Electric, which they owe almost half a million dollars. Giga Watt has estimated assets worth less than $50,000, whereas estimated liabilities are in the range of $10–50 million—Mining

Kakao Corp: Major South Korean internet conglomerate established a subsidiary in Singapore, Klaytn, to attract foreign investments with cryptocurrencies. Kakao Corp is expected to attract about 100B won (approximately $88 million) worth of investment from venture capital and institutional investors through Klaytn in Dec—Project Development

Binance: Will use an automated KYC application provided by financial software firm Refinitiv, who provides markets data and infrastructure for over 4,000 institutions worldwide. This will allow Binance to integrate the World-Check Risk intelligence database into their internal workflow and streamline the screening process for onboarding, KYC and third-party risk due diligence—Exchange

Quoine: Exchange was sued by major liquidity provider B2C2 in Singapore’s first BTC court case. B2C2 alleges Quoine reversed seven BTC to ETH trades it attempted to perform in April 2017, involving a total of 3,085 BTC, which B2C2 is now attempting to take out from the exchange—Exchange

Norway: Starting January 2019, BTC miners will have to pay normal electricity tax in the country after their discount was removed from the state budget agreement—Mining

Japan: National Tax Service of Japan released annual report on crypto trading, summarizing the transaction profit and loss of crypto investors. Promised copy of this report to be delivered to every investor by the end of January next year—Trading

U.K.: Financial Conduct Authority sees need to clarify grey areas around existing regulations. The FCA will consult by year’s end to determine and clarify grey areas for crypto assets—Regulation

“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)
$3,668.08
Ethereum (ETH)
$123.26
Bitcoin Cash (BCH)
$129.99
XRP (XRP)
$0.328371
Litecoin (LTC)
$31.74
Cardano (ADA)
$0.044757
IOTA (MIOTA)
$0.315839
Dash (DASH)
$72.44
NEM (XEM)
$0.057354
Monero (XMR)
$45.56
Stellar (XLM)
$0.108501
EOS (EOS)
$2.50
TRON (TRX)
$0.025119
Bitcoin Gold (BTG)
$11.84
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