The Month in Crypto — November 19

China crackdown, Upbit hacked, 400M EU blockchain fund

The News

• Regulators in China cracked down on cryptocurrency exchanges operating in the country. thejapantimes
• The EU announced a €400M fund focusing on blockchain and artificial intelligence. yahoo
• The South Korean cryptocurrency exchange, UpBit was hacked with $49M of ether stolen. This is the 7th major hack this year. theblockcrypto
• HSBC announced they will move $20 billion worth of assets on to a blockchain based custody platform by March 2020. forbes

Capital

• The blockchain platform company, Bison Trails raised a $25M series A round backed by Coinbase Ventures, ConsenSys and Kleiner Perkins. coindesk
• TRM Labs, a cryptocurrency risk management platform, raised a $5.9M seed round, backed by PayPal Ventures and Y Combinator. ibsintelligence

Adoption

• Cisco was awarded a patent to secure data on 5G networks using a blockchain platform. yahoo
• Volvo have joined the Responsible Sourcing Blockchain Network to sustainably source electric car materials. Alongside Ford and Volkswagen, they will track cobalt provenance using IBM’s blockchain platform. ledgerinsights
• German banks will be able to sell and store cryptocurrencies next year after a new EU money laundering directive goes into effect. news.bitcoin

Market:

The overall market fell 18% in November. Bitcoin was down 20% to finish the month with a global average of $7,360 USD. Ethereum was similar, falling 17% and ending the month at $150 USD.