Crypto & Blockchain Recap: 11th December, 2018

Here are some of the recent major happenings of the crypto and blockchain world that you probably need to know about.

Fire in the Winter?

The winter that is being seen in the crypto market right now has been going on for months. Many crypto projects are struggling to bear their finances owing to the shortage of investments. We also recently saw ETCDEV shutting down all of its activities with Ethereum Classic owing to the lack of investments.

Amidst this chaos, David Johnston has launched a new fund related to cryptos in the name of Yeoman’s Growth Capital which is seeking to raise $200 million, as reported by a news source. The money is being raised by the fund so that startups could be supported.

A former growth strategist at Facebook Henry Liu has also been brought onboard with the fund. Investors are being targeted by the fund so that money could be raised.

This launch of the crypto fund is seen at a time when the crypto market is in a severe chaos. Let’s see if this fund can give some warmth to the startups in this extreme cold.

What is Up With ConsenSys?

It was recently suggested by the development studio of ethereum ConsenSys that it will be reorganizing its framework of operation. It was also announced by the company that it will be laying off some of its staff.

It was hinted that the development studio will now be focusing on the projects that have sustainable business models instead of the ones that are “cool”. Now, it seems that the employees of the firm are uncertain regarding the financial situation that the studio is handling.

While some are suggesting the new direction of the firm is a viable one as the previous rate of growth seemed to be unsustainable, there are some employees which seem to be uncertain regarding the runway that the development firm has left from here on.

With all these guesses going on, let’s see how the new version of ConsenSys handles the situation.

ETF Good or Bad?

Quite recently, the United Nations Securities and Exchange Commission (SEC) delayed its verdict regarding the bitcoin exchange-traded fund (ETF) proposal put forward by VanEck and SolidX to as late as 27th February 2019. But the sentiment regarding a bitcoin ETF seems to be mixed.

While some say ETF will prove to be extremely beneficial for the asset as institutional investment will flow into the market, others remain indifferent. There is also a party that believes it might even prove to be bad as this will introduce a certain level of centralization.

With all these opinions floating around, the traders will still have to wait and see if they get a bitcoin ETF or not.

SEE ALSO: ETF Delayed: Crypto & Blockchain Recap, 8th December, 2018

Ahsan Khalid

Blockchain Developer. An Electrical Engineer with majors in software development. I present forward my insight regarding the latest happenings of the blockchain world. All views on my articles are my own. Email: ahsan@blockpublisher.com or editor.news@blockpublisher.com

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