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November 01, 2019, 08:27:32 PM |
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Total Market Cap, as of 11.01.19 at 12:00pm (PST): U.S. $245,607,612,779 (+ 5.95%)
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STORY OF THE WEEK
• Deribit experienced a flash crash at 21:00 UTC on October 31st, 2019 causing the price of its bitcoin perpetual swap contract to drop 15%. Index calculation issues and the failure to remove incorrect outlier prices were cited as the reasons for the malfunction.
• COO of Deribit, Marius Jansen has since said the platform will be reimbursing traders that have been affected by the error. Total cost of compensation is estimated to be around U.S $1.3 million.
CRYPTOCURRENCY TRADING SERVICES
• Kraken will offer support for OmiseGO (OMG) and PAX Gold (PAXG). The coins will be rolled with trading pairs against bitcoin, ether, the euro and the U.S. dollar
• Cryptocurrency derivatives exchange FTX has launched the “Dragon Perpetual Futures Index” a product that offers exposure to several Chinese related cryptocurrencies
• OKEx plans to launch Tether (UDST) futures trading with a futures contract offering leverage up to 100x.
• Bitfinex adds withdrawal support to Bech32 addresses. Bech32 is a new type of wallet address format starting with the alphanumeric characters “bc1” and only lowercase letters.
• Binance has added onramp and offramps for the Russian Ruble (RUB) through 3rd party integration AdvCash.
• eToro has launched “CopyTrader” – a feature that allows traders to automatically copy trades of top cryptocurrency traders on the platform. This feature will be rolled out on its cryptocurrency trading platform.
• Huobi’s white-label service, Huobi Cloud, will now be available in the Middle East and North Africa (MENA) region.
REGULATION
• Canadian investment fund manager 3iQ received regulatory approval to launch a bitcoin fund on the Toronto Stock Exchange or the TSX Venture Exchange.
• The government in Guangzhou, China, has announced a U.S. $140 million subsidy fund to encourage research and development of blockchain initiatives.
INSTITUTIONALIZATION
• BAKKT announces a consumer app scheduled to launch in 2020 which will enable payments and transactions using digital currencies.
• The Chicago Mercantile Exchange (CME) has published specifications for its upcoming bitcoin options contract scheduled to launch early 2020.
TECHNOLOGY
• An open source web application dubbed “Shhgit” scans code repositories on Github and looks for files and data that is unintentionally exposed such as private keys or password data.
• Cryptocurrency derivatives exchange BitMEX acknowledges it has sent email out to users and attached their email addresses to the “to” field, causing concerns of data protection and privacy.
• MyEtherWallet (MEW), an Ethereum wallet allowing user to store, send and receive ETH and ERC-20 tokens has released an updated Google Chrome extension offering.
• Halloween 2019 marks the eleventh anniversary of the release of the whitepaper for Bitcoin by anonymous creator dubbed ”Satoshi Nakamoto”.
PEOPLE
• Founder of major cryptocurrency miner and hardware producer Bitmain Technologies Ltd, Wu Jihan announced the resignation of his co-founder Mincree Zhan to reinstate control of the organization.
• Investment platform Robinhood is hiring a Chief Compliance Officer for its cryptocurrency unit, Robinhood Crypto, LLC.
TWITTER
• @MichellePhan – “There is a lot of misinformation about Bitcoin, so I recommend reading “ The Bitcoin Standard “ by @saifedean to understand not only the fundamentals of btc, but monetary history and Austrian economics. You’ll see btc as a true store of value. Good luck!”
• @boxmining – “Rumors are circulating that China is allowing exchanges again. Further inspection reveals that new digital businessss are explicitly barred from creating crypto exchanges”
• @CharlesTheETH – “I take back everything I said about the crypto industry being mature and this no longer being the Wild West. Just yesterday we saw: - $7k BTC on deribit - $15k BTC on some no name exchange - Coinbase fuckery - Bitmex email leak A single fucking day.”
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