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November 08, 2019, 09:42:30 PM |
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Total Market Cap, as of 11.08.19 at 12:00pm (PST): U.S. $239,602,746,771 (- 2.44%)
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STORY OF THE WEEK
•The Stellar Development Foundation has burned 55 billion of its XLM tokens, approximately half of the supply in existence.
•The organization has decided its better to project what it would use within 10 years to help increase adoption of the network and burn the excess tokens.
CRYPTOCURRENCY TRADING SERVICES
• Robinhood Crypto has expanded to 8 more U.S. states, supporting a total of 47 U.S. states. The new states supported are Delaware, Kentucky, Louisiana, Maine, Maryland, Minnesota, Nebraska, and Vermont.
• DX.Exchange has announced a suspension of operations as it seeks for a merger or outright sale of the company. Users are instructed to withdrawal funds held on the platform by November 15th, 2019.
• Binance.US launched support for cryptocurrency purchases using debit cards.
• Huobi Global announced it will begin freezing all user accounts based in the U.S. commencing on November 13th, 2019.
• Square’s Cash App has begun charging fees for buying and selling bitcoins on the platform. Fees are rumored to range from 1% - 1.76%.
• Coinbase announced it will offer staking services for all its U.S. customers, beginning with digital asset Tezos.
• Atom Group has launched the Atom Asset Exchange (AAX), a cryptocurrency spot and derivatives exchange. The platform is powered by a matching engine developed by the London Stock Exchange and boasts a 0.0005 second trade settlement time.
• The CEO of Zimbabwean cryptocurrency exchange Golix, Tawanda Kembo claims to have lost the password to one of the exchanges Bitcoin (BTC) cold wallets containing 33 Bitcoins.
REGULATION
• Alameda Research LLC (the parent company of crypto exchange FTX) has been hit with a U.S. $150 million lawsuit in the U.S. District Court in California. The plaintiff accuses its founders of market manipulation, unfair business practices and racketeering activity.
• UK’s tax authority, Her Majesty’s Revenue and Customs (HMRC) has released guidance for businesses and enterprises regarding crypto asset exchange tokens, utility tokens and security tokens.
• The British Columbia Securities Commission (BCSC) has filed to take control of Einstein Exchange amidst complaints, investigations and lawsuits that it has ceased operations with more than 16 million CAD owed to customers.
• China’s National Development and Reform Commission has removed cryptocurrency mining from its list of industries it intends to wind down in the country.
• Bitfinex will pull its plans the token sale of “Kimcoin” (K!M) on its platform citing regulatory uncertainty.
• The Hong Kong Securities and Futures Commission (SFC) has issued a 61-page regulatory framework for licencing cryptocurrency exchanges.
INSTITUTIONALIZATION
• The central bank of Turkey has announced its plans to launch a digital currency with trials scheduled to conclude by the end of 2020.
• Investing and cryptocurrency trading platform eToro has acquired Delta, a cryptocurrency portfolio management app.
TECHNOLOGY
• BitMEX addresses its mismanagement of customer email addresses citing technical issues with its email system. The exchange has since built an in-house system to handle sending of important email and employed password resets and human review on potentially endangered accounts.
• Investing and cryptocurrency trading platform eToro has acquired Delta, a cryptocurrency portfolio management app.
• Microsoft Azure has launched a token minting platform dubbed “Azure Blockchain Tokens”, allowing enterprises to mint and burn tokens on a permissioned version of Ethereum.
• Nervos Network plans to launch its Lina blockchain next week after a U.S. $72 million token sale. Developers and miners will be able to participate and utilize the network on November 16th, 2019.
PEOPLE
• Blockchain analysis platform Chainalysis has hired three new executives to its business development team. The new roles filled include Chief Revenue Officer, VP of Public Sectors and Vice President of Americas.
TWITTER
• @_ConnerBrown_ – “Right now, to maintain the price of bitcoin, the market has to absorb ~1800 new BTC every day. In just a few months, the market will only have to absorb ~900 new BTC per day to maintain price levels. That sounds like rocket fuel to me.”
• @matt_odell – “Cash transactions greater than RM25,000 ($6060 USD) will no longer be legal in Malaysia. As the global push to criminalize cash usage continues, bitcoin provides individuals the ability to opt out of state controlled digital money. There's safety in sats.”
• @Rhythemtrader – “Using Bitcoin 1. Download wallet 2. Receive funds | Using Banks 1. Go to location 1. Identification card 2. Social Security # 3. Hidden fees 4. Initial deposit 5. Proof of address 6. Unreadable legal docs 7. Wait a week for your funds. Which one will the next generation choose?”
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