Blockchain Market Update – October 11, 2018

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October 11, 2018 by
Blockchain Market Update – October 11, 2018

Walmart: Malicious actors have circulated news that Walmart is issuing a new token, WAL. Walmart responded that it has not announced a crypto payment method for its customers, and that the news is propagated by fraudulent sites—Other

Mercado Bitcoin: In a landmark judgement by the Superior Court of Justice, the second top court in Brazil, banks have the authority to close crypto-related accounts without any justification. Mercado Bitcoin, one of the largest BTC exchange of Brazil, lost the lawsuit against Itau Bank for closing the exchange’s accounts abruptly. The verdict is viewed by lawyers as a benchmark for future lawsuits involving banks and exchanges—Regulation

FSB: The Financial Stability Board, advisory body to the G20 organization, concluded in their report that cryptocurrency poses a number of potential threats to financial stability. While the current threats are insignificant because of the limited size of the market, the risk will become more significant as the market grows. They also concluded that cryptocurrency lacks the key attributes of sovereign currencies, that it could be harmful to financial regulators, financial institutions, and the public—Regulation

Gemini: Hires Jeanine Hightower-Sellitto, the former COE at the International Securities Exchange. Her role will focus on supervising Gemini’s institutional onboarding and expanding client services team—Project Development

Vanuatu: The Pacific Island nation is receiving assistance from Malta to form blockchain and ICO legislation, as requested by Vanuatu’s Council of Ministers. Currently, Vanuatu does not recognize digital currencies as legal tender. They are neither issued nor regulated by the bank—Regulation

Liquid: Bitcoin’s first sidechain is now live, launched by the startup Blockstream. Built off of the live blockchain, Liquid will be used to carry large volumes of transactions at a higher speed for their partners. Initial users include 23 bitcoin companies, including exchanges, brokers and other institutions, who will help to manage the sidechain, as well as use Liquid to send transactions—Project Development

Universal Protocol Alliance: The blockchain coalition launches their own Universal Dollar (UPUSD) stablecoin. The project aims to provide a fully transparent digital asset collateralized 1:1 with US dollars held by US-based banks insured by the Federal Deposit Insurance Company (FDIC)—Project Development

Digital Asset Custody Company: Announced their support for the stablecoin USD Coin (USDC), which was launched by the company Circle just a few weeks ago—Project Development

RobinhoodNow implementing a new approach towards clearing. The growth of the company since it launched its free stock trading app netted it a user base of more than 6 million people—Project Development

Crypto Fund Research: 90 crypto hedge funds were launched in the first 3 quarters of 2018, on track for 120 for the fiscal year. This accounts for about 20% of the total hedge funds launched in 2018. The rate of new crypto hedge fund launches defies traditional thinking that hedge funds launch most frequently in bull markets. Leading cryptocurrencies, like BTC and ETH, are down 50% or more YTD 2018—Other

EurekaPro: The Singapore-based company to launch Southeast Asia’s first fiat-to-crypto exchange, with more than 8,000 users already signed up for their open public beta—Project Development

“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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