The Month in Crypto — April 19
Published in
2 min readMay 1, 2019
AWS launch blockchain-as-a-service, Tether only 74% backed, PayPal make 1st blockchain investment.
The News
- Tether, the cryptocurrency-based stablecoin (a coin that is backed or pegged to a fiat currency) revealed their reserves are only 74% backed by fiat equivalents. Until now, the company has claimed their currency is 100% backed. Tether is the 8th largest cryptocurrency with $2.8 billion in circulation. coindesk
- The Russian media outlet, Vedomosti, reported that Telegram launched a private beta of their blockchain network. Telegram raised $1.7 billion in 2018 to launch its ‘TON’ blockchain network. vedomosti
- Reports revealed Samsung are building a blockchain based on the Ethereum blockchain. This news follows the integration of cryptocurrency wallets in their new smartphones. medium
- A new law passed in France that guarantees blockchain startups the right to a bank account, if the startups agree to be regulated. coindesk
Capital
- PayPal made their first blockchain investment. They participated in Cambridge Blockchain’s Series A, a company developing a blockchain-based online identity. forbes
- A16z and Polychain Capital led a $25M investment in CeloHQ. The company is developing a mobile friendly protocol which allows funds to be sent to phone numbers. celohq
- Bakkt, the exchange created by the owner of the New York Stock Exchange, acquired the Digital Asset Custody Company and has partnered with BNY Mellon to ensure a secure digital asset storage solution. The exchange is set to launch in late 2019. bakkt
Adoption
- Amazon Web Services launched its blockchain-as-a-service to the public. techcrunch
- Jaguar Land Rover partnered with the IOTA Foundation to integrate smart wallets into their future cars. The wallet will be used to automatically pay for tolls, parking and electric charging. People will also be rewarded for sharing traffic data. jaguarlandrover
- Albertsons Companies have joined the blockchain-based, IBM Food Trust network. Albertsons Companies is one of the largest food and drug retailers in the United States. ibm
- The London Stock Exchange have collaborated with blockchain startup 20|30 to issue tokenised equity. coindesk
Market:
Since the strong run at the start of the month, the cryptocurrency markets have been stable. Bitcoin has hovered above $5,000 for the majority of April, finishing the month 29% up with a global average of $5,370 USD. Ethereum also had a positive month, rising 13% and finishing April with a global average of $160 USD.