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Hello Hive Fam!

I'm back with another Fintech Flash, where I go over the biggest news happening in fintech and blockchain over the last week.

Here's what was covered in Episode 9!

The amount of Bitcoin stored on exchanges is in steep decline. BTC exchange reserves are continuously plummeting as analysts pinpoint the trend to a shortage of sellers. The data shows Bitcoin is likely moving from exchanges to non-custodial wallets. If so, it indicates that investors are moving their funds to hold for a longer period, despite various events that could have applied selling pressure such as the BitMEX probe and OKEx withdrawal suspension.

Speaking of OKEX, there is currently no timeline to resume crypto withdrawals. The exchange issued an update assuring users that their funds are safe after it halted withdrawals following word that their founder was cooperating with a police investigation… however has offered no timeline for resumption of service.

Is PolkaDot poised to become the next “Ethereum Killer” candidate? While Ethereum has become the blockchain of choice for many of the digital-asset world’s hottest cryptocurrencies, a next generation network is capturing the attention of application developers. the number of monthly active developers building on Polkadot has increased by 44% in the 12 months and the DOT coin marketcap is curently standing at around 9% of Ethereum.

The Filecoin launch takes Its 2017 ICO Investors on a wild ride. Decentralized file-sharing project Filecoin launched last week after years of development and a jawdropping $200 million ICO. But critics and miners are calling it a failed launch. Its fees are turning out to be a pain point as prices to use the Filecoin network cost over $40,000 (with hosting and maintenance), in contrast to centralized alternatives like Amazon Web Services which charge a fraction of the amount. The highly anticipated token has soared and dived across all markets, and is currently trading at around $30.

Ocean Builders, a company that builds “floating, off-grid seapod homes,” has bought an Australian cruise ship, renamed it “Satoshi” and plans to fill it with crypto companies, entrepreneurs and digital nomads. Satoshi will anchor in the Gulf of Panama and BTC will be accepted for all on-board purchases. The first 200 cabins will be sold via auctions in early November.

And Finally, The Libra Association has named former HSBC executive Ian Jenkins as the CFO of Libra Networks. This is the latest senior executive appointment this year at Libra in addition to other roles such as CEO, chief legal officer; managing director and chief compliance officer.

Hope you enjoyed it and i'll be back next week for another Fintech ⚡️Flash!

XO, Lea

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