The blockchain/crypto week in numbers

$58.5 million…US crypto custody service, BitGo, has announced the second close of its Series B funding round.

New investors, Goldman Sachs’ Principal Strategic Investments group and Galaxy Digital Ventures, a venture investment firm founded by Michael Novogratz, are joining Valor Equity Partners, Craft Ventures, DRW, and Redpoint Ventures.

This brings the total amount raised in the round to $58.5 million. The cash will support BitGo’s development of its crypto wallet.

$2.5 million…A New York federal court has ordered Gelfman Blueprint and its CEO Nicholas Gelfman to stump up over $2.5 million in civil monetary penalties and restitution in what is the first anti-fraud enforcement action involving Bitcoin filed by the Commodity Futures Trading Commission (CFTC).

87%…Blockchain could become ubiquitous by 2025, entering mainstream business and underpinning supply chains worldwide.

Through investment and partnerships, the technology will dominate manufacturing as well as consumer products and retail industries, ushering in a new era of transparency and trust, according to a report by the Capgemini Research Institute.

It surveyed 450 organisations where blockchain implementation is underway in their supply chain as a proof of concept, pilot or at-scale. Currently, just 3% do so at scale, whilst 10% have a pilot in place, with 87% of respondents reporting to be in the early stages of DLT experimentation.

“The CFTC is determined to identify bad actors in these virtual currency markets and hold them accountable” James McDonald, the CFTC’s Director of Enforcement

21%…Blockchain advertising analytics venture, Lucidity, claims its blockchain advertising pilot with Toyota resulted in a 21% lift in campaign performance.

$3.16 million…The Ethereum Foundation, a non-profit organisation that promotes and supports the Ethereum platform, has awarded $3.16 million (£2.4 million) in new grants to projects.

$13 million…Beijing-based cryptocurrency wallet startup, Cobo, has raised $13 million in a Series A round led by DHVC and Wu Capital.

$8 million…Blockchain-based journalism network, Civil, is to issue refunds to token sale participants after failing to hit the $8 million minimum it set out to raise.

4…Crypto exchange Huobi has announced that, from 19^th October, it will list four stablecoins: Paxos Standard (PAX), TrueUSD (TUSD), USDCoin (USDC) and Gemini Dollar (GUSD).

115,000,000…Distributed ledger technology can support trading volumes in US equity markets, according to the Depository Trust & Clearing Corporation (DTCC).

Its benchmark study, which was conducted by Accenture with additional support provided by Digital Asset and R3, showed that DLT can perform at levels necessary to process an entire trading day’s volume at peak rates, which equates to 115,000,000 daily trades, or 6,300 trades per second for five continuous hours.

“It’s a setback for us, though not a shock. We watched the CVL token sale’s progress with the rest of you. We expected a different outcome when we launched the sale, but circumstances changed”  Civil Founder, Matthew Iles

$50 million…Paxos says that it has issued over $50 million worth of its recently launched Ethereum-based, US dollar-backed stablecoin.

$2 trillion…The blockchain market is increasing exponentially worldwide across all industries and is expected to be worth $2 trillion by 2030, according to IHS Markit.