Blockchain Market Update – October 24, 2018

Home » Blockchain » Blockchain Market Update – October 24, 2018
October 24, 2018 by
Blockchain Market Update – October 24, 2018

Coinbase: The Department of Financial Services gave the green light to Coinbase Custody Trust Company on Oct. 23, and they can now offer custodial services for the cryptos listed at the exchange. The first batch of supported cryptos are BTC, BCH, ETH, ETC, LTC, and notably, XRP. On top of that, Coinbase also announced support for the Circle-issued stablecoin USDC.—Exchange

VanEck: After receiving a rejection of its ETF application in late August, met with the SEC to discuss its status, producing a supporting document outlining five reasons for approval: There is a significant regulated derivatives market for BTC, Relevant markets are regulated, Concerns around price manipulation have been mitigated, Cboe’s rules are designed to surveil for potential manipulation of trust shares, and it promotes investor protection—Regulation

Kara Stein: According to the SEC Commissioner, Bitcoin ETF applicants should focus on how they would get accurate valuations despite volatile price swings, how they make sure there is physical custody, and how to make sure there is adequate liquidity. The SEC will look at all of those factors and make a decision based on that particular fund and how it will be able to handle those particular requirements—Regulation

Bank of Japan: According to Masayoshi Amamiya, deputy governor of the bank, Japan’s central bank doesn’t plan to issue a digital currency, justifying their decision by identifying major obstacles which prevent their further widespread adoption—Financial Institution

Vertex Ventures: The investment fund owned by the gov’t of Singapore is funding Binance. This strategic investment will see the two entities jointly establish Binance Singapore in the country. The funding will enable Binance to build a fiat-crypto exchange in Singapore and support its expansion for other fiat-crypto gateways and services throughout Southeast Asia—Project Development

Danske Bank: Denmark’s largest bank announces it has joined the blockchain-oriented Marco Polo Network, a global trade finance platform and network led by R3 and TradeIX. The platform is aimed at banks and leverages the technology provided by TradeIX—Financial Institution

Caspian: Closed its token sale early, after raising $19.5M. The platform’s partnerships with BitMEX, Coinbase, Gemini, OSL, and advisors like Ari Paul and Mike Novogratz have helped it gain interest amongst investors. They are aiming to provide a full-stack crypto asset management platform for institutions—Project Development

Bitfinex: A spokesperson clarifies that the exchange does not offer a USDT/USD trading pair, and no such pair is shown on Bitfinex’s site. Customers can deposit and withdraw both dollars and tethers at Bitfinex, meaning that it is possible to transfer one for the other through the exchange, but this process is far slower and more involved than placing a trade on the exchange—Exchange

Monero: QuarksLab, a security research company, was entrusted with auditing Monero’s Bulletproof protocol. They have found 8 critical issues, along with 2 medium-impact vulnerabilities, and 20 low-impact concerns or vulnerabilities. Monero is believed to have already initiated corrective measures to patch the highlighted issues—Project Development

NEXO: The crypto loans service has confirmed support for BCH and LTC. These coins will join BTC, ETH, BNB, and NEXO, granting crypto holders the ability to borrow anywhere from $1K to $2M—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)
$3,669.10
Ethereum (ETH)
$123.23
Bitcoin Cash (BCH)
$130.05
XRP (XRP)
$0.328320
Litecoin (LTC)
$31.75
Cardano (ADA)
$0.044794
IOTA (MIOTA)
$0.315636
Dash (DASH)
$72.40
NEM (XEM)
$0.057036
Monero (XMR)
$45.58
Stellar (XLM)
$0.108528
EOS (EOS)
$2.50
TRON (TRX)
$0.025111
Bitcoin Gold (BTG)
$11.84
© Copyright 2018. HybridBlock News.