Asia Blockchain Updates 2019.10.28

Critical News & Updates in Blockchain & Crypto Market of APAC market

BY Amy Kang

Upbit Break up with Bittrex, No more BTC/USDT market on Bittrex

Upbit, a global leading cryptocurrency exchange, broke up with US-based cryptocurrency exchange Bittrex, which has been closely link with Upbit since October 2017. As a result, Bitcoin (BTC) and Tether (USDT) markets will not appear in the Bittrex anymore.

Since Oct 25th, Upbit has only displayed orders received by Upbit users from both BTC Market and USDT Market.

In the past, orders placed by both Upbit and Bittrex members were displayed at the same time.

Upbit has temporarily closed the order of BTC, Ethereum (ETH), and USDT Market service from 11 am to 6 pm on 25th and started reorganization work.

According to the announcement, after the reorganization, the BTC market and USDT market will be normally traded sequentially, but the ETH market service will be terminated. The same change applies to Upbit’s overseas market, Upbit Indonesia and Upbit Singapore.

Bitmain applies for another IPO in Singapore.

The global mining company, Bitmain is pushing for IPO one more time in Singapore.

According to Blockinpress on 24th, Bitmain recently started talking with the authorities for the Singapore IPO.

An official familiar with the Singapore banking industry said, “Bitmain is discussing IPO on the Singapore Stock Exchange.”

Bitmain applied for an IPO in Hong Kong last year, September. According to the IPO application filed by Bitmain to the Hong Kong Stock Exchange (HKEX), the profit in the first half of 2018 was 70Million USD and the revenue was 1.7Billion USD, both revenue and profit pumped by 900–1000% YoY 2017.

President Xi officially Endorsed Blockchain, BTC has been hyped more than 20%

President Xi Jinping officially commented on the acceptance of blockchain technology on Oct 25, during the 18th collective study of the Political Bureau of the Central Committee in Beijing, and said: “Blockchain technology application promotes new technology innovation and industrial upgrading. We should make blockchain core technology and put our efforts in a clear direction, expansion of investment, and technology development to accelerate blockchain development and industrial innovation. ”

As a result of the comments by President Xi, Bitcoin (BTC) has surged by more than 20%, recovering to 9,500 USD in a flash.



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