Crypto Industry Updates: SEC Delays Bitcoin ETF Approval, UNICEF to Fund Blockchain Startups

It’s Invest Diva’s Kiana Danial with News BTC and right here’s an outline of what’s been happening within the crypto world. The bear market continued to bounce round key consolidation ranges over the weekend, and we might anticipate additional drops as we method the brand new yr.

One of the numerous causes we’re not seeing a restoration but may very well be that the SEC once more delayed its choice making on the approval of the primary Bitcoin ETF within the U.S. They’ve pushed the choice deadline to February 27th, 2019 and primarily based on their very own guidelines, they’ll’t delay their decision-making any longer. That means, the subsequent time we hear from them a few Bitcoin ETF, they’re both going to approve or reject it and doubtlessly create a storm out there with their announcement.

Another factor to stay up for sooner or later is Coinbase trade’s consideration of including 30 new crypto property to their itemizing. They even stated in a weblog submit that they intend so as to add “greater than 90 percent of all compliant digital assets by market cap” to their trade sooner or later.

Also within the U.S. one of many largest insurance coverage teams, State Farm, is testing blockchain tech as a part of a brand new platform for his or her providers. According to a press assertion, they’re trialing the blockchain to see if it’s a “viable product for insurance industry adoption.”

Another cool blockchain fanatic is UNICEF, the United Nations’ charity arm for youngsters, that’s funding 6 blockchain startups to “solve global challenges.” This $100,000 funding is a part of a broader program which already funds 20 expertise startups.

The future doesn’t look all vibrant within the trade although. On a extra downbeat notice, the present bear market continues to take its toll on crypto firms. The newest to downsize is mining large, Bitmain, that’s closing down its Israel-based R&D arm, shedding all 23 staff. We positive hope the crypto unemployed can lengthen their data and expertise to additional creating this thrilling trade. That’s it from me immediately, let me know your ideas on all this within the feedback, and subscribe to get extra of my updates.

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