In cooperation with cryptocurrency exchange Coinbase, KPMG—one of the big four auditors—released a 42-page report that details the company’s view of crypto assets. Below is the article containing key takeaways from the research.

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According to Linda Pawczuk, team lead for Deloitte’s blockchain group, negative crypto headlines are making the company’s clients anxious.

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Since the middle of the last week, the digital asset market has been in the red, marking a 12-month low. From Wednesday to Thursday, the total capitalization of the cryptocurrency market declined by almost 14%, falling from $210 to $180 billion. According to Coinmarketcap, today the total capitalization of cryptocurrency is slightly higher than $160 billion. Nevertheless, this is the lowest figure since the beginning of the year, during which the market has never dropped below $200 billion. DeCenter figured out the possible causes of such a sharp collapse.

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The PoS (Proof-of-Stake) consensus algorithm and its modifications are becoming the preferred method of protecting cryptocurrencies in the market. Ethereum, the third-largest cryptocurrency network by capitalization, is preparing for a full transition to PoS, which not only reduces power consumption but also significantly increases the level of security of the entire network. The market demand for services for working with assets of PoS networks, such as the P2P Validator, is growing. Launched this year, the project provides users with the ability to manage their own assets in PoS networks without having to trust third parties.

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📉 The Bitcoin price has fallen to as low as $4,500; the low represents a new bottom over the past 13 months.
via CoinDesk

🗓 Cryptocurrency exchange OKEx settled Bitcoin Cash contracts early without warning, causing roughly $24 million in aggregate losses for short positions.
via Bloomberg

❗️ Kraken has launched Bitcoin Cash SV trading but warned traders of “red flags.”
via Kraken

🇺🇸 The U.S. Department of Justice (DoJ) is investigating Tether’s connection to Bitcoin’s price rally last year.
via Bloomberg

🔗 Bitcoin Cash SV appeared to be facing a block reorganization attack yesterday. As it’s turned out later, the reorg was unintentional and not an attack.
via The Block

The SEC recently fined two companies that didn’t register initial coin offerings as securities. Here’s what Jake Chervinsky has to say (thread): https://goo.gl/BBP9ui

Three major cryptocurrency over-the-counter (OTC) trading desks—Cumberland, Genesis Trading, and Circle Trade—will be providing data for MVIS Bitcoin US OTC Spot Index, a new Bitcoin index.

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In response to the accusations of “manipulating markets” by adjusting Bitcoin Cash (BCH) futures settlements, the OKEx exchange claimed the change had been “based on the consideration of market integrity and customer interests.”

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While anti-records are being set on the market of digital assets on the value of Bitcoin over the past 12 months with it falling to $4,500, mining companies are not losing optimism and are demonstrating new achievements in developing more compact devices for mining coins. The Coinmine startup presented a mining rig on Wednesday, November 14, that looks like a game console and not a farm with ASIC devices. Will the new gaming device be a replacement for cumbersome farms and how will the project be beneficial for the creators and the miners themselves?

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Silk Road is a darknet platform for trading illegal goods founded by Ross Ulbricht in 2011 and named after the caravan road, a trade route between Europe and East Asia built in the 2nd century BC. Silk Road existed for two years and eight months. In October 2013, Ulbricht was arrested by the FBI in the San Francisco Public Library in Glen Park. Today, Ulbricht is serving a life sentence, and his Twitter account is collecting signatures for his release, having more than 22,000 followers.

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🗓 The Bakkt digital assets platform, which was created by the operator of the New York Stock Exchange (NYSE), is now “targeting” January 24, 2019, as a launch date.
via Bakkt

📉 According to Chainalysis, the value of Bitcoins handled by Bitcoin payment processors has dropped nearly 80% from $427 million in December 2017 to $96 million in September 2018.
via Reuters

🌊 Despite that Ether price has dropped to an 18-month low, ICOs are not liquidating their ETH treasuries.
via The Block

🗣 Taavet Hinrikus, CEO of the cross-border payments startup TransferWise, said the company wouldn’t use blockchain until there is more adoption.
via Fortune

💰 Binance Labs invested $3 million in San Francisco-based over-the-counter (OTC) trading desk Koi Trading.
via ccn

Andreas Antonopoulos released his new book, ennoscriptd Mastering Ethereum: Building Smart Contracts and DApps.
Link to tweet: https://goo.gl/9kVBRK

The Block’s senior correspondent, Frank Chaparro, went on Yahoo Finance to discuss the ongoing crypto bear market and how volatility may be scaring off investors.

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Cryptocurrency payments processing company BitPay will add support for the Paxos Standard (PAX) stablecoin.

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Today, when “every second project is stablecoin,” this type of cryptocurrency already occupies a separate niche within the global crypto space, having its own statistics and tracking tools, including the Stablecoin Index, the Stable Report, the Stablecoin Stats, and the Stablecoin Wars, some of which may become the “Coinmarketcap for the Stablecoins.”

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On October 31st, Bitcoin, the first digital asset, turned ten years old. During this time, the cryptocurrency market has grown from zero to over $200 billion, and about 15,500 exchanges have appeared. These figures are regularly increasing, and interest is not fading, despite the ever-changing moods. One of the reasons for this is that cryptocurrencies remain an effective method of earning. Trading on digital assets exchanges attracts fiat traders and other users who are overwhelmed with the idea of ​​making quick profits.

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💸 Buyers of the Grayscale Bitcoin Investment Trust paid a 100% premium for Bitcoin during its peak.
via Bloomberg

🔜 Telegram’s $1.7 billion Telegram Open Network (TON) project is 70% complete.
via The Block

💵 Cryptocurrency bank Silvergate Bank is preparing to raise $50 million in an initial public offering (IPO).
via ccn

🏦 BBVA and Banco Santander have joined the E.U. International Association for Trusted Blockchain Applications (IATBA).
via Cointelegraph

📑 Bitcoin mining cloud service provider Giga Watt has filed for bankruptcy.
via The Block

🤔
Thread: https://goo.gl/yt5PQE

According to Jacqueline Quintal from insurance broker firm Aon Risk Solutions, demand for crypto insurance services vastly exceeds the number of offerings on the market.

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Bitcoin’s (BTC) hash rate has dropped by 44% from all-time high. Source »

Despite the fairly loyal attitude of Japan’s financial regulators to the crypto industry, which has recently been self-regulated, local authorities are continuing to develop new measures to control services that work with digital currencies. During the ninth meeting of the cryptocurrency-dedicated research group of the Financial Services Agency of Japan (FSA), the financial authorities of the country discussed the conditions for creating a legislative framework for monitoring the operation of crypto wallets.

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