SEC’s Gensler says proof-of-stake cryptocurrencies may be securities
When is a cryptocurrency a security and when is it not? Financial regulators around the world are raising that question. The answer that comes out of the U.S. may set the tone, but South Korea is also ahead in tackling it.
USDC, Tether announce support for Ethereum proof-of-stake
Two of the largest stablecoin issuers — Tether and USDC — announced Tuesday that they will support Ethereum’s proof-of-stake (PoS) chain, as Ethereum’s “Merge” looms and crypto miners are banding together against the abandonment of mining. See related article: Prominent Chinese ETH miner plans proof-of-work fork amid The Merge Fast facts See related article: Ethereum […]
Can Ethereum’s proof-of-stake transition save the planet?
Ethereum’s transition to proof-of-stake promises to dramatically lower energy consumption, curbing greenhouse gas emissions that would require an annual offset by a forest roughly the size of Belgium.
Ethereum moves closer to proof-of-stake after Kiln
Ethereum’s merge on the Kiln testnet on Wednesday was a success, as the blockchain passed the final public test before its highly anticipated transition from a proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS), which is expected to happen by the end of Q2, 2022. See related article: The best of Ethereum 2.0 is yet to […]
Cardano sees US$10M inflows as big investors switch to proof-of-stake coins
Amid declines in Bitcoin and Ethereum, Cardano and its native cryptocurrency ADA saw US$10 million inflows as institutional investors switch to proof-of-stake coins.
China’s BSN will add CasperLabs’s proof-of-stake blockchain to its network
Casper Network goes big on its ‘first of many’ expansion ambitions in Asia by receiving the nod to join both BSN China and BSN International.
Central bank digital assets can legitimize risk in the crypto space, says Standard Chartered’s Geoff Kendrick
In the second installment of a three-part interview series, Geoff Kendrick, head of crypto research and EM FX West at Standard Chartered Bank, talks altcoins, stablecoins and the legitimization of crypto risk through central bank digital assets.
Weekly Market Wrap: Bitcoin rises above US$29,000, Ether recaptures US$1,900
Bitcoin inched above US$29,000 on Friday, as concerns over the health of the banking system have been reignited. Industry experts tell Forkast that banking troubles could fuel Bitcoin values, which face significant resistance above US$29,500.
Weekly Market Wrap: Can Bitcoin float above US$27,500 after sinking below US$30,000?
Bitcoin fell to US$28,000 in the same week the European Parliament passed its landmark crypto framework. Industry analysts told Forkast that holding US$27,500 will be crucial for Bitcoin in order to spark an upward momentum.
SEC’s Gary Gensler dodges question on whether Ethereum is a security
SEC Chair Gary Gensler did not give a direct answer when asked whether Ether is a security or a commodity at a congressional oversight hearing on Tuesday.
Ethereum rolls out Shapella upgrade amid worries over price pressures
Top blockchain and crypto news: Ethereum fork prompts price fall fears. Satoshi is found — in Apple software. Hong Kong ramps up Web3 plans.
Chinese state-owned company launches crypto funds in Hong Kong
A major state-owned firm in China is launching two cryptocurrency funds in partnership with investment firm Waterdrip Capital.
Ethereum’s Shapella upgrade is imminent – and investors are excited
Ethereum is set for a few upgrades which will see quality of life improvements and aproof-of-stake protocol.
Bitcoin, Ether down with top 10 cryptos, most equities fall ahead of U.S. Jobs Report
Bitcoin and Ether fell during afternoon trading hours in Asia on Thursday, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization.
CFTC chair calls Ethereum a commodity, in contrast to SEC chair Gensler’s position
CFTC chair Rostin Behnam has called Ethereum a commodity and not a security, in apparent contrast to past statements from SEC Chairman Gary Gensler.
Ethereum validators win ‘short term’ as Blur, OpenSea rivalry drives up gas fees
Ethereum validators are benefiting from the increasingly heated competition between the two largest NFT marketplaces that is driving up gas fees, but the windfall may not last much longer.
What policymakers need to know about the metaverse to make the real world a better place
The metaverse has the potential to make the real world more just and inclusive, writes Sébastien Borget of The Sandbox. Here are the key ingredients for its future success.
Crypto is experiencing growing pains. What’s coming next?
Now a teenager, crypto is wrestling with its identity and purpose. But it’s learning from its mistakes and on its way to maturity, writes Zach Bronstein of Endaoment.
Weekly Market Wrap: Bitcoin lingers at US$24,000 level after Wall Street’s worst day in 2023 so far
Bitcoin remained resilient around the US$24,000 level on Tuesday despite Wall Street’s worst day of the year so far. Industry experts are eyeing a potential retest of the US$25,000 psychological level, as a failure to reclaim it may result in a downtrend to around US$21,500.
Judge denies Dapper Labs request to dismiss NBA Top Shot security lawsuit
A US district court judge on Wednesday denied Dapper Labs’ request to dismiss a lawsuit that alleges that the NBA Top Shots NFT collection is an unregistered security.
Crypto miner Hive Blockchain posts wider losses, cites Ethereum Merge
Vancouver-based cryptocurrency mining firm Hive Blockchain Technologies Ltd. reported bigger losses in its latest quarterly earnings report published Tuesday, mainly due to Ethereum’s Merge and lower Bitcoin prices. See related article: Bitcoin mining difficulty dips 0.5% over two weeks after hitting record high Fast facts See related article: Bitcoin miner Greenidge Generation cuts NYDIG debt […]
Go ahead and ban staking. Crypto investors will just go elsewhere
The SEC’s latest heavy-handed approach toward crypto will leave investors less protected while benefitting dodgy offshore companies, writes Danny Talwar of Koinly.
Paxos ordered to stop minting Binance stablecoin as SEC mulls legal action
Top blockchain and crypto news: Paxos halts BUSD issuance. Kraken faces disclosure charges. Beijing backs new blockchain research center.
Be careful what you wish for? Regulators pick up pace in the crypto industry crackdown
Last year was memorable in the emerging world of digital assets for the sheer number of corporate failures. The industry itself has been asking for clearer legal guidelines to help development. Is that what’s happening now?
A house divided? SEC Commissioner Peirce attacks agency’s fines against Kraken exchange
Hester Peirce said using enforcement action to dictate law in an emerging industry is the act of a “lazy” regulator, after the SEC fined the U.S.-based Kraken crypto exchange for failing to register staking programs.
Markets: Bitcoin slumps in broad sell off amid SEC charges against Kraken, regulation worries
Bitcoin sank below US$22,000 on Thursday morning in Asia after the U.S. SEC slapped a fine on the Kraken exchange, sparking concerns that regulators are set to take a tougher line on crypto trading.
Coinbase CEO Brian Armstrong says SEC has ‘terrible’ idea to ban crypto staking for U.S. retail customers
The U.S. Securities and Exchange Commission is considering a ban on cryptocurrency staking for retail customers in the country, said Brian Armstrong, the chief executive of Coinbase Global Inc.
Bitcoin mining fund soars as BTC powers into 2023
Top blockchain and crypto news: BTC mining ETF outperforms. SBF under pressure as accusations mount. ‘China’s Instagram’ embraces NFTs.
Ethereum’s Shanghai Mainnet moves one step closer as “Shadow Fork” goes live
Software developers for Ethereum, the world’s second-largest blockchain, on Monday said they successfully deployed a copy of the blockchain — or “shadow fork” — to run tests of the upcoming Shanghai hardfork upgrade scheduled for March.
Why crypto crashes are just like Nascar collisions
Small details can make a big difference on performance, and one careless error can lead to calamity. How should those in crypto drivers’ seats navigate their path?
Genesis, Gemini face US charges over unregistered securities sales
Top blockchain and crypto news: SEC frowns on Genesis, Gemini. Solana soars. Will China tighten its embrace of WeChat Pay and Alipay to push its CBDC?
Markets: Bitcoin holds above US$21,000 as crypto market cap briefly tops US$1 trillion
Bitcoin held above US$21,000 in Tuesday morning trading in Asia with the total cryptocurrency market capitalization also briefly breaching the US$1 trillion-dollar mark in the last 24 hours for the first time since mid-November.
It’s Ethereum forking time
Although investors fear the Shanghai upgrade brings selling pressure to Ethereum, Amber’s Justin D’Anethan shares why this can be a bull case for Ethereum.
Bitcoin named dirtiest crypto of 2022, tops major tokens in carbon emissions: Forex Suggest
A Bitcoin transaction produced close to a metric ton of carbon emissions, while XRP was the most energy-efficient among the top 10 cryptocurrencies by market capitalization last year.
Lido DAO surges 35% over the last week, BitDAO gains 22%: Why?
LDO surged as Ethereum’s upcoming March upgrade is expected to resolve current risks in ETH staking. BitDAO also gained with its buyback plan.
Markets: Bitcoin, Ether little changed; Polygon, XRP lead losers; Cardano holds onto gains
Bitcoin and Ether traded little changed Friday morning in Asia, with most other top 10 non-stablecoin cryptocurrencies losing ground.
A series of events: Crypto’s 2022 timeline
Cryptocurrencies had a turbulent 2022 to say the least. Blockchain technology made progress but that failed to offset the multiple bankruptcies and hacks that plagued the industry through the year.
A year to remember, a year to forget: Crypto highs and lows of 2022
From Terra and FTX crises to Ethereum’s triumphant Merge and China’s inventive NFT industry, Forkast reviews a rollercoaster year and its consequences.
14 years on, why Bitcoin will survive its growing pains
Like an awkward teen, Bitcoin is facing a crisis of confidence, writes Eddie Hui of MetaComp. What lies in store for the original cryptocurrency in 2023?
To unwrap Web3’s promises, we must break the barriers to blockchain adoption
Despite blockchain’s potential, barriers to use still stand in the way, writes Andrew Vranjes of Blockdaemon. Solving security issues and reducing risk will be key.
Markets: Bitcoin, Ether drop as SEC’s Gensler says crypto firms running out of time to comply with securities laws
Bitcoin fell below US$17,000 in Thursday morning trading in Asia. The other top 10 non-stablecoin cryptocurrencies also retreated.
Markets: Bitcoin little changed, Ether rises ahead of ‘Shanghai’ upgrade, XRP climbs
Bitcoin traded little changed Friday morning in Asia, while Ether rose amid a mixed performance by the top 10 non-stablecoin cryptocurrencies by market capitalization.
Cardano, blockchain payment firm Coti to launch algorithm stablecoin Djed in Jan 2023
Proof-of-stake blockchain platform Cardano and blockchain payment platform Coti will launch an algorithmic stablecoin Djed in January 2023
Beyond crypto: Why would companies want cryptocurrency-free blockchains?
Cryptocurrencies are getting in the way of the mass adoption of blockchain technology, especially by tech businesses, says Red Date Technology chief Yifan He.
Ethereum software developer ConsenSys co-launches Ethereum Climate Platform at COP27
Core Ethereum contributor ConsenSys co-launched the Ethereum Climate Platform (ECP) at the COP27 climate change conference in Egypt.
What could Binance gain from FTX’s wider investments?
FTX has invested in many projects through its FTX Ventures arm, contributing to two of the 10 biggest blockchain and crypto funding rounds in the industry. Here are the top five investments FTX has been involved in.
U.S. midterms: gridlock… and progress on crypto industry regulation?
In a period of toxic divide between the Democrats and Republicans, the need to figure out how to regulate the growing cryptocurrency industry is one of the few issues both parties seem to agree on.
Markets: Bitcoin, Ether fall with top 10 cryptos, XRP slumps
Bitcoin fell in Wednesday afternoon trading in Asia along with the top 10 cryptocurrencies by market capitalization, excluding stablecoins, with XRP holders suffering the steepest losses at 3.93%.
Aptos rollout faulted for slow processing speeds; native token plunges
The blockchain network was built by former members of the Meta stablecoin project, with well-known investors and considerable buzz as the new ‘Solana killer.’
EU targets Bitcoin with energy efficiency labeling for crypto
This isn’t the first time the bloc has examined cracking down on Bitcoin mining, and it comes amid a growing push from regulators to examine the industry’s carbon footprint.
Markets: Bitcoin, Ether fall as EU considers crackdown on energy-intensive crypto mining
Bitcoin and Ether both fell in Wednesday morning trading in Asia amid news the European Union is considering a bill to restrict the mining of energy-intensive cryptocurrencies, such as Bitcoin. Most of the rest of the cryptocurrency top 10 by market capitalization, excluding stablecoins, also declined, with the exception of Polygon. See related article: Bitcoin, […]
Ethereum supply would have grown by 350,000 tokens under PoW
A recent token launch on Ethereum pushed the network into a deflationary state and the blockchain’s shift to PoS may lower supply even further.
Ethereum price undervalued since The Merge: report
Nearly half of 55 fintech and crypto experts believe Ethereum has been underpriced since the network became a proof-of-stake blockchain through “The Merge” upgrade last month, according to a recent report from financial service firm Finder. See related article: Why YOU should back Ethereum’s Fork Fast facts While 46% of the surveyed panelists said Ether […]
Binance to hard fork BNB Smart Chain amid heated debate around decentralization
The crypto world has been watching how one of the world’s largest blockchains responds to a hack last week and the questions it raises about the state of decentralization in the industry.
Top Ethereum gas guzzler XEN Crypto is crunching ETH supply
Ethereum’s supply growth entered a deflationary state on Saturday, a first for the blockchain since The Merge upgrade that shifted the network to a proof-of-stake consensus mechanism in September. See related article: Scalability is Ethereum’s post-Merge focus: Vitalik Buterin Fast facts Ether’s (ETH) burn rate has gone up along with gas fees (transaction fees) since […]
Bitcoin mining difficulty hits new high after Ethereum ‘Merge’ makes space
Bitcoin mining difficulty climbed to a record high on Monday, a large part of which is attributed to Ethereum’s “Merge” upgrade freeing up more room for Bitcoin miners, according to Bloomberg. See related article: Brazil police bust crypto group led by ‘Bitcoin Sheikh’ Fast facts Bitcoin mining difficulty, a measure of the amount of work […]
Terra cofounder Daniel Shin pulls out of S.Korean parliamentary audit, report says
Terraform Labs Pte. Ltd. cofounder Daniel Shin, or Shin Hyun-sung, has submitted a statement to South Korea’s National Assembly with reasons not to appear before lawmakers on Thursday as a witness in the Terra-LUNA meltdown, according to local news agency News1. See related article: Terraform cofounder Daniel Shin to testify in South Korean parliament Fast […]
Terraform cofounder Daniel Shin to testify in South Korean parliament
South Korea’s National Assembly intends to get to the bottom of the Terra-LUNA debacle in its next audit in October along with several other issues surrounding the local crypto industry.
SEC charges Hydrogen Technology for selling unregistered securities
The SEC has filed charges against Hydrogen Technology Corporation and former chief executive Michael Ross Kane for alleged sales of unregistered “crypto asset securities” in the form of Hydro tokens. See related article: SEC’s Gensler says proof-of-stake cryptocurrencies may be securities Fast facts Moonwalkers Trading Limited CEO, Tyler Ostern, is also being charged for allegedly […]
California governor vetoes bill requiring crypto-related businesses to obtain special license
A bill that proposed a regulatory and licensing framework for crypto companies was rejected by Gov. Gavin Newsom amid a broader national debate concerning the policing of digital assets.
Markets: Bitcoin price falls below US$19,000, ETH down, XRP continues to rise
Bitcoin traded below the US$19,000 mark in early Monday trading in Asia after fluctuating around the resistance level all week. Ethereum and most other tokens in the cryptocurrency top 10 by market capitalization lost ground. XRP once again defied broader market forces and was up on the day. See related article: Markets: XRP soars 23%, […]
Terra chief faces arrest as South Korea ramps up global manhunt
Top blockchain and crypto news: Where is Do Kwon hiding out? Ethereum Merge mood fading fast. China’s digital yuan draws scrutiny Down Under.
Markets: Bitcoin price falls below US$19,000, XRP gains on SEC lawsuit developments, Ether post-Merge slide continues
Bitcoin fell below the US$19,000 resistance level for the second time in a week in early Wednesday trading in Asia. Ether and most other tokens in the cryptocurrency top 10 by market capitalization lost ground. XRP was the exception, gaining on news the token’s issuer, Ripple Labs Inc, and the U.S. Securities and Exchange Commission […]
Markets: Bitcoin back above US$19,000 while Ether posts strongest gains since post-Merge
Bitcoin rose above US$19,000 in early Tuesday morning trading in Asia after falling below that resistance level overnight for the first time in almost two weeks. Ethereum showed signs of shaking off the post-Merge slump as it gained along with the rest of the top 10 cryptocurrencies by market capitalization. See related article: Ethereum’s PoW […]
Markets: Cardano, Solana, Dogecoin and Polkadot bear brunt of market slump
The global crypto market cap for cryptocurrency dropped over 7% in Monday evening trade in Asia, nearing US$900 billion. Bitcoin fell to a 24-hour low of US$18,390.32 at 5 pm Hong Kong time, while Cardano led losses within the crypto top 10 by market capitalization, followed by Ethereum. See related article: Markets: Bitcoin back below […]
Ethereum’s PoW forks competing for market share see significant selloff
These PoW forks were created to keep revenue flowing for Ethereum’s miners, but plummeting prices put that plan at risk.
Markets: Bitcoin back below US$20,000 while Ether leads losses in crypto top 10
Bitcoin fell back below US$20,000 in early Monday morning trading in Asia after breaching that support line overnight, while Ethereum led the losses in the crypto top 10 by market capitalization, which were all trading lower. See related article: Markets: Bitcoin dips below US$20,000; Ether, ETC fall post-Merge Fast facts Bitcoin fell by 3.4% in […]
Will Ethereum ever surpass Bitcoin? This is “The Flippening”
Many believe Ethereum is destined to overtake Bitcoin’s dominance in an event known as “The Flippening.” Find out if Ethereum’s reign is inevitable in this Forkast explainer.
ETC mining hashrate reaches ATH after ‘Merge’; two proof-of-work chains are rising
Three Ethereum chains that support mining — Ethereum Classic, ETHPoW and Ethereum Fair — together accounted for about 30% of the peak hashrate of Ethereum before “the Merge.”
As “The Merge” succeeds, rival ETHPoW fork falters
ETHPoW, the Ethereum hard fork blockchain intended to preserve proof-of-work after the native chain transitioned to proof-of-stake, is facing technical difficulties despite months of anticipation. See related article: Ethereum says Merge upgrade successfully completed, more to come Fast facts Prior to the fork, it was announced that ETHW tokens would be airdropped to Ethereum holders. […]
Ethereum’s last PoW and first PoS NFTs minted for 67.5 ETH
The last block on the proof-of-work (PoW) Ethereum chain before The Merge was filled by a VanityBlocks non-fungible token (NFT) minted for 31.5 ETH, which was succeeded by the first NFT in the post-Merge proof-of-stake (PoS) chain minted for 36 ETH. See related article: Fungible after all? Duplicates may disrupt NFT industry after Ethereum Merge […]
Markets: Prices rise as Ethereum Merge boosts ETH, linked tokens
Cryptocurrency markets trended higher in Thursday afternoon trading in Asia, with global market capitalization up 0.4% in 24 hours, trading at US$995.9 billion, still under the US$1 trillion benchmark it dropped below last night. All cryptocurrencies in the top 10 by market cap, with the exception of Bitcoin, strengthened. See related article: Markets: Bitcoin little […]