Blockchain Market Update – September 25, 2018

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September 25, 2018 by
Blockchain Market Update – September 25, 2018

Coinnest: Two executives of the South Korean exchange were indicted for accepting bribe to list a coin. According to local media, they received around $890K worth of crypto, mostly in BTC. The CEO of company who bribed Coinnest was also indicted—Regulation

Andreessen Horowitz: The crypto fund a16z has invested in MakerDAO’s stablecoin, purchasing 6% of the total MKR token supply for $15M. This is considered to be one of Andreessen Horowitz’s maiden investments—Financial Institution

U.S.: Representatives from U.S.-based financial giants and crypto startups will meet with Washington lawmakers on Sept. 24 to discuss the regulatory landscape in a roundtable dubbed “Legislating Certainty for Cryptocurrencies.” Discussion will focus on issues with policy-making regarding crypto. Representatives from Fidelity, Andreessen Horowitz, Nasdaq, the U.S. Chamber of Commerce, crypto startups Ripple, Coinbase and Circle have reportedly confirmed attendance—Regulation

Vitalik Buterin: Says Ethereum can scale to 500 tx/s using Zcash technology. Borrowing the technological innovation from privacy coin Zcash could help to mass-validate ETH transactions and increase their network capacity by 3,200% without Plasma and other second-layer scaling solutions that process transactions off-chain. If used in tandem with second-layer technologies following their eventual launch, the scaling improvement would be even more pronounced—Project Development

XRP: With Ripple planning to launch its settlements platform xRapid, they have noted that 7 firms are ready to implement the solution. These are Bittrex, Bitso, coins.ph, Mercury FX, SBI virtual currency, Cuallix, and Zip Remit. MoneyGram, Cambridge Global Payments and IDT corporation are still experimenting with the service—Project Development

Kasikornbank: The biggest bank by market capitalization in Thailand became the first financial institution in the country to get on board the Visa B2B Connect platform, which uses the blockchain to help with efficiency, transparency, and security in business-to-business payments—Financial Institution

Bank of AmericaFiles new patent for adapting multiple digital signatures in a distributed network, according to a filing published September 18 by U.S. Patent and Trademark Office—Project Development

Gemini: The crypto exchange of the Winklevoss Twins is rumoured to be planning an expansion into the UK, according to two sources close to the process. They reportedly hired advisors regarding a move into Britain and may soon submit an application to the U.K. Financial Conduct Authority for authorization to open an exchange in the country. Still, Gemini has not confirmed the report; they have stated they have no immediate plans but are evaluating opportunities to increase its global presence—Exchange

0x: Mainnet testing for version 2 of the 0x protocol on the Ethereum blockchain was completed. This news prompted the 13% increase in value for 0x—Project Development

Walmart: To implement blockchain technology to improve food supply traceability. They have worked with IBM and 11 other food companies to develop a blockchain-enabled food traceability network. Also involved is the Center for Disease Control and Prevention, who has looked to IBM for solutions for public health issues—Project Development

Uber: Uber now runs on blockchain, using an architecture based on the Chandra-Toueg consensus algorithm. There are immediate plans to introduce Uber coin that will allow to slash payment costs in half while greatly increasing profit margin through the unpredictable volatility of coin price enhanced by the existing Surge mechanism—Project Development

Bloomberg: Study shows that if the current trends hold, crypto trading volume will grow by 50% in 2019 and subsequently overtake the U.S. Corporate Debt trading volume in 2018—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)
$10,587.31
Ethereum (ETH)
$223.83
Bitcoin Cash (BCH)
$311.93
XRP (XRP)
$0.323256
Litecoin (LTC)
$99.78
Cardano (ADA)
$0.058711
IOTA (MIOTA)
$0.307481
Dash (DASH)
$111.61
NEM (XEM)
$0.068276
Monero (XMR)
$84.22
Stellar (XLM)
$0.088108
EOS (EOS)
$4.11
TRON (TRX)
$0.025877
Bitcoin Gold (BTG)
$27.01
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