Genesis Block

Hong Kong’s premier OTC trading centre.

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Daily News

Our daily recap of all things blockchain and digital assets related, to better serve our clients and to inform the public.

BINANCE: Plans to launch, Venus, an infrastructure to issue localized stablecoins for specific countries.
TETHER: Will issue a new stablecoin, “CNHT,” pegged to offshore Chinese yuan.
SEC: Issues cease-and-desist order against ICO Rating. Claims co was compensated ~$100k for promoting securities.
INX: The crypto trading platform intends to raise $130m via a ‘security token IPO’ in the US.
BITMEX: Restricts access to users based in Seychelles, HK and Bermuda; all locations where parent offices are located.
SVG: 2Q deposits +11% q-q. SEN usage blowing up.
ARGO: LSE-listed mining firm to boost electricity supply by >3x by 2020. Deal signed with Canadian data center.
RAKUTEN: Launches exchange via mobile app. Support trading of BTC, ETH, BCH.
BITPAY: Processed >$5m in real estate txs in 1H19.
ANCHORAGE: Adds support for XTZ and XLM. Users can receive staking rewards.

PLUSTOKEN: $2.9 billion deposits in crypto have been lost in the exit scam.
BAKKT: The physically-delivered bitcoin futures product has been approved by both the CFTC and NYDFS. Will be launched in September.
ETHERUEM: Core devs have finalized six EIPs to be part of the next hard fork, Istanbul.
COINBASE : >3400 users asked to change PW. Bug resulted in customer details being stored in plain text.
COINBASE CUSTODY: Demand increasing since the Xapo acquisition. $200~$400m new deposits per week.
SILVERGATE: To launch borrowing facilities in 2H. Collateral will need to exceed line of credit.
FUNDS: Vision Hill reports crypto fund composite registered a ~53% gain in 2Q. BTC alone significantly O/PF.
POLONIEX: Delists 23 trading pairs due to low volume.
BINANCE: CZ expects US platform to go live within 2mos. NY residents will not have access.
LTC: Foundation left with just $96k in reserves as of 1Q19.
BEAM: Completes first hard fork for ASIC resistance. Support for Laser Beam (like LN) added.

SEC: Another delay in Bitcoin ETF decision. Next deadlines are late Sep to mid Oct.
COINBASE: Backing a new derivatives exchange, Blade. Offer up to 150x leverage for BTC and other altcoins via perpetual swaps.
ETHFINEX: Relaunching as DeversiFi. New mgmt plans to pivot the focus to institutions and seek regulatory approval in Europe.
BINANCE: Scheduled system upgrade @ 10am HKT today. Will take 6~8 hrs.
COINBASE: Moves banking over from Barclays to ClearBank. Deposits & withdrawals now taking days to process.
US: SEC freezes bank accounts tied to allegedly fraudulent ICO project, Veritaseum.
SEED CX: Begins user acceptance testing of its physically settled BTC margin swaps. Another product awaiting CFTC approval.
BITGO: Will offer 12mo no-fee custody service to Xapo clients.
N KOREA: UN reports nation has secured $2b via hacking crypto exchanges and financial institutions.
KAKAO: To launch crypto wallet, Klip, later in the yr.

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