2019 was an eventful year in blockchain and cryptocurrency news space. Lots happened in these industries, from cryptocurrency exchange hacks to never before seen cryptocurrency-related financial products and events. Let’s take a look at a few memorable moments that took place in the blockchain and crypto space in 2019.
Exchanges are still getting hacked
Lots of great things happened in the cryptocurrency industry in 2019, so let’s get the negative events out of the way first.
Just two weeks into 2019, the first cryptocurrency exchange hack of the year took place when New Zealand based Cryptopia was hacked for over $16 million.
— Cryptopia Exchange (@Cryptopia_NZ) January 15, 2019
This was just the tip of the iceberg when it came to exchanges experiencing security breaches. Thirteen major cryptocurrency exchange hacks took place in 2019 that resulted in the theft of $292,665,886 and 510,000 user logins. At least one cryptocurrency exchange hack happened per month. The only exceptions being April, September, October, and December—the only four months in the year that did not experience any high-profile cryptocurrency exchange hacks.
Fewer funds launched, less money invested
Fewer cryptocurrency-focused funds launch in 2019 compared to 2018. This year, only 128 funds launched compared to 2018’s, 284.
In addition, less money was allocated to ICOs and crypto-companies holding private-funding rounds. According to a report from Crunchbase, only 3.38 billion was allocated to ICOs and private-funding rounds across 472 deals in 2019, compared to 2018’s 12.86 billion spread across 1331 deals.
The lack of cryptocurrency-focused funds launching and the significant reduction in the amount of money invested in ICO’s and private funding rounds could indicate institutional investor sentiment. The cryptocurrency markets have been in a multi-year bear market, and the fact that fewer funds and companies are looking to launch and invest may…