Nextblock Weekly Update – January 28th 2018 – February 3rd 2018

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🔥 Top News This Week

  1. Graphics card maker AMD announced its “highest profitability in [seven] years” Tuesday, but expects its revenue to drop next quarter due at least in part to falling demand from cryptocurrency miners. The company brought in $1.42 billion in revenue last quarter, for a 2018 total of $6.48 billion – well above 2017’s total of $5.25 billion, AMD said in its Tuesday earnings release. That said, AMD still missed its target revenue by some $20 million, and the release suggested that its revenue from the crypto mining space has disappeared entirely.

2.Troubled Canadian crypto exchange QuadrigaCX owes its customers $190 million and cannot access most of the funds, according to a court filing obtained by CoinDesk. In a sworn affidavit filed Jan. 31 with the Nova Scotia Supreme Court, Jennifer Robertson, identified as the widow of QuadrigaCX founder Gerald Cotten, said the exchange owes its customers roughly $250 million CAD ($190 million) in both cryptocurrency and fiat. The company previously announced it had filed for creditor protection on its website, but the filing itself provides greater details about its predicament.

3.The world’s second-largest stock exchange Nasdaq has revealed that seven crypto exchanges are already using its market monitoring technology, Forbes reported Jan. 30. Just two of these seven collaborations have to date been publicized — the Winklevoss twins’ Gemini exchange, and Vctrade, run by Japanese financial services giant SBI Holdings. The stock market giant shared its rigorous vetting system for crypto industry players that seek to use its surveillance technology, known as the SMARTS Market Surveillance system. SMARTS is a cross-market, cross-asset surveillance tool that correlates real-time and historical data with detection patterns to trace illegal market activities, such as spoofing and wash trading.

This Week’s Stats:
Top Coins: Bitcoin -3.07% , Ethereum -5.94% , Ripple -1.45%
Top Mover: Augur (+16.46%)
Top Shaker: NEM (-24.30%)

(Based on the Top 100 Cryptocurrencies by Market Cap)

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