PRICE CHANGE: WTD/YTD

- BTC ($9,682): +20% / +158%
- ETH ($187): +7% / +40%
- LTC ($61): +14% / +101%
- XRP ($0.30): +2% / -15%
- Crypto Market Cap ($255B): +17% / +103%
- BTC Dominance: 68%

THIS WEEK IN CRYPTO

- China's President, Xi Jinping, said the country needs to "seize the opportunity" afforded by blockchain technology. He said blockchain tech has a wide array of applications within China ranging from financing businesses to mass transit to poverty alleviation. Xi said it would be necessary to implement the rule of law network into existing and future blockchain systems, arguing for top-down guidance and regulation. He also called for the creation of "Blockchain +", a platform alluding to personal development such as education, employment and food and medicinal safety, among other basic needs. The People's Bank of China banned cryptocurrencies in 2017, although a digital renminbi is being developed by the central bank and is likely to launch soon. Cryptocurrencies rose on the news that China would increase investment and accelerate the development of blockchain tech. Link. 

- Libra is reportedly reconsidering pegging its token to a basket of currencies, after coming under intense scrutiny from regulators who worry the creation of a new synthetic global currency could upend the global financial system. Libra is now considering launching a series of stablecoins, including a dollar stablecoin, a euro stablecoin, etc. The project is still aiming for a June 2020 launch but could miss that target due to regulatory hurdles. Link. 

- Research firm Hurun published its inaugural list of global unicorns for 2019 on Monday, and 11 of the 494 unicorns were blockchain companies. China led the list with 206 unicorns followed by the US at 203. The blockchain unicorns include: Bitmain ($12B), Coinbase ($8B), Ripple ($5B), Canaan ($3B), Circle ($3B), Binance ($2B), Block.One ($2B), Dfinity ($2B), Ebang ($2B), BitFury ($1B), Liquid ($1B). Link. 

- Facebook CEO Mark Zuckerberg testified in front of Congress last week, and covered a wide range of topics including its upcoming cryptocurrency Libra. Zuckerberg claimed that China will soon have its own version of Libra, so regulators shouldn't block the project. He also said he is open to regulators requiring Libra to be majority-backed by the US dollar and that he would leave inheritance to his children in Libra. Most notably he mentioned that Libra would build strong AML features into Libra's network, but would not commit to blocking anonymous wallets. Link.  

- The majority of Telegram investors have reportedly agreed to postpone the launch of the messaging giant's native blockchain network TON, after it faced regulatory challenges from the SEC. Telegram raised $1.7B in its ICO back in 2017. Link. 

- P2P bitcoin trading platform Paxful has added 800k wallets in the past 12 months, driven by growth in Nigeria, Ghana, Kenya and India. They have seen strong growth in countries where users have historically been "restricted by traditional financing". Link. 

- Coinbase has been profitable since 2017 and as generated nearly $2 billion in transaction fee revenue since launching in 2012. Coinbase last raised $300M at an $8 billion valuation back in 2018. Link. 

- Binance, the world's largest exchange by trading volume, became the first exchange to list Blockstack's tokens (STX). Only non-US persons located outside of the US will be eligible to trade STX on the exchange. Blockstack was the first company to get approved by the SEC for a RegA+ token offering. Link. 

- The World Economic Forum launched a blockchain initiative aimed at responsible sourcing of metals. Seven mining and metals companies joined the initiative, which is expected to increase transparency, efficiency, and improve reporting of carbon emissions. Link. 

- Binance US is listing dogecoin on its newly launched US exchange. Link. 

- Crypto startup Moon released a browser extension for Google Chrome, Brave and Opera that allows users to pay for items on Amazon using bitcoin via the Lightning Network, Litecoin, or Ether. Moon lets you pay with any bitcoin wallet that works on top of the Lightning network or via your Coinbase account. When you pay with Moon, the service automatically converts your cryptocurrencies, tops up your Amazon account and pays with your Amazon balance. Moon doesn’t charge additional fees for the service. Link. 

- Galaxy Digital Asset Management, a division of merchant bank Galaxy Digital founded by Mike Novogratz, is launching two new bitcoin funds in November. Accredited investors will have access to low-fee, institutionally managed bitcoin exposure. The two funds offer different liquidity preferences, and will offer professional oversight of bitcoin storage and tax documentation. Link. 

- PeerNova, an enterprise blockchain software startup that helps banks and financial institutions simplify reconciliation and other data processes, raised $31 million in new funding to expand globally. Their software uses distributed ledger technology to digitize data processes, eliminating millions of dollars in costs and helping create potential new revenue streams. Link.