Market
“Bitcoin registered losses for a record sixth straight month in January, reinforcing the bearish view put forward by the moving average studies on the monthly chart.” (Source: Coin Desk)
Bitcoin entered its longest bear market in its 10-year history. The second to last longest Bitcoin bear market took place from 2013 to 2015. (Source: Coin Desk)
Exchanges
Canadian crypto exchange QuadrigaCX owes its customers $190 million, but does not posses the ability to access most of the funds. When QuadrigaCX’s founder, Gerald Cotten, passed away, he took with him access to the private keys to the exchange’s coffers.
The exchange holds 26,500 BTC, 430,000 ETH, and 200,000 LTC among other
Coinbase’s director of data science and risk, Soups Ranjan, has left to join another venture where he can “build things from scratch.” (Source: Soups Ranjan)
Financial Instruments
B2C2, an electronic OTC trading firm and crypto liquidity provider, was granted the ability to offer cryptocurrency derivatives in the United Kingdom. B2C2 will be regulated by the Financial Conduct Authority (FCA). This will allows traders to make trades predicated on guesses of future prices. (Source: Coin Desk)
Workers return to work and slowly pick the pieces up after the US Federal shut down. Investors shouldn’t hold their breath for a Bitcoin ETF approval anytime soon. (Source: Coin Desk)
Ethereum
Ethereum developers have opted to delay ProgPow, which leaves miners in a state of limbo… should they invest in mining rigs, or not? (Source: Coin Desk)
Layoffs
Canadian centralized exchange, Coinsquare, has laid off 40 employees, which includes “higher ups.” The company’s COO Robert Mueller and CFO Ken Tsang, were both terminated after having their positions for just over a year. (Source: BetaKit)
Smart contract auditing firm, Hosho, lays off 80% of its staff. (Source: Coin Desk)
Mining Infrastructure Development
Bitcoin mining infrastructure group, Bitfury, and Commons Foundation, who build sustainable p2p models for local communities, have teamed up to build a transaction processing site in Paraguay. The sites will draw power from Itaipú the world’s largest operational hydroelectric energy producer, and Yacyretá. (Source: BitFury)