PRICE CHANGE WTD/YTD

- BTC ($3,235): -9% / -76%
- ETH ($86): -9% / -88%
- LTC ($26): 0% / -88%
- XRP ($0.30): -6% / -84%
- Crypto Market Cap ($104B): -10% / -83%
- BTC dominance: 55%

THIS WEEK IN CRYPTO

- Basis, the startup that raised $133 million from top tier VCs to launch a stablecoin, announced it was shutting down and returning capital to investors. The company cited the regulatory environment as a key reason for the decision. Basis believed its token would be considered a security and subsequently subject to transfer restrictions and ownership limitation to accredited investors. Basis investors include Bain Capital Ventures, GV, Lightspeed, Andreessen Horowitz, DCG and others. Link. 

- The US CFTC is looking for public feedback on ethereum, ranging from its technology to how it is used. The "Request for Input" (RFI) lists 25 different questions about ether and the network, and covers topics such as ethereum's upcoming move to proof-of-stake, scalability issues, governance, cybersecurity, and custody. Respondents have 60 days to submit answers, which will then be used to inform the agency's oversight of the ethereum market. While officials representing the US SEC have previously suggested that ether is not a security, the CFTC has not yet taken an official position on the cryptocurrency. Link. 

- Coinbase's Chief Product Officer, Jeremy Henrickson, has left the company. Henrickson started with Coinbase in July 2016 and served as VP of Product and Engineering before becoming CPO in 2017. Coinbase has had a number of higher-level exits in recent months, including long-time executive Adam White who left to join crypto startup Bakkt. Link. 

- Nvidia's stock has declined almost 50 percent over the last two months as demand for its chips slowed down as crypto prices came crashing. Nvidia's GPUs had become extremely popular for crypto mining during the crypto run-up over the past few years. Link. 

- US-based crypto exchange Kraken is offering a very small, select number of clients the opportunity to purchase Kraken shares at a $4 billion valuation. Kraken is profitable and has significant cash on hand, but is opportunistically raising cash to align interests with its top clients and build a war chest for acquisitions in the bear market. The opportunity is not available to the general public or external investors. Link. 

- Samsung is developing a crypto wallet app that may be launched with the Galaxy S10. Samsung's app will include a cold wallet for storing crypto and private keys, as well as a hot wallet for crypto transactions. The app will enable users to import their existing wallets from third party services like MetaMask or TrustWallet. Link. 

- According to a study from the Cambridge Center for Alternative Finance, the number of crypto users climbed from 18 million to 35 million in the first three quarters of the year, despite the massive decline in crypto prices. Some view the increasing user numbers in a deep market downturn as a positive signal that an eventual recovery could be coming. Link. 

- Blockchain Developer is the fastest growing job in 2018 according to LinkedIn's annual Emerging Jobs Report. Blockchain developer jobs experienced 33x growth this year while the second fastest growing job was Machine Learning Engineer at 12x growth. Most blockchain developers work at IBM, ConsenSys, and Chainyard and demand is highest in San Francisco, New York City, and Atlanta. Link. 

- Civic, the decentralized identity startup, announced that it hired Apple veteran Phillip Shoemaker as executive director of Identity.com. Civic acquired Identity.com in July to build out its decentralized ID verification ecosystem. Shoemaker was previously a senior director for Apple's App Store Review division, growing his team from 4 to over 300 employees. Link. 

- State Farm announced it was working on a blockchain solution that could speed up the subrogation process for auto claims. Subrogation is typically the last part of an insurance claims process where one insurance company recovers claims it paid to its customer for damages from the at-fault party. By using blockchain technology, State Farm believes it can reduce errors and improve the speed of transactions and payouts. Link. 

- Opera, the world's fifth most-used browser, released the new Opera Browser for Android that includes a built-in crypto wallet for receiving and sending bitcoin and other tokens. Opera is also talking about supporting "Web 3.0" - the decentralized internet of the future based on blockchain tech- and has integrated with the Ethereum web3 API to allow users to access Dapps. Link. 

- BlockFi, a startup that offers US dollar loans against crypto collateral, raised $4 million in convertible notes from Akuna Capital and Galaxy Digital Ventures. BlockFi plans to use the capital to grow its team and launch new products, including an interest-earning crypto savings account, a portfolio line of credit, and crypto-backed credit cards. The firm currently provides loans against bitcoin, ether, and litecoin. BlockFi previously raised $52.5 million. Link. 

- PayPal introduced an employee blockchain-based rewards system and renewed a partnership to accept cash withdrawals from Coinbase customers in the US. Employees earn tokens by participating in innovation-related programs and by generating new ideas - the tokens can be redeemed for "experiences" with PayPal executives. Despite these new initiatives PayPal has no yet integrated crypto into its core merchant or consumer offerings. Link.