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Ether rose to an over six-month high of US$2,045.

HSBC’s new service is expected to launch in 2024.

Binance said it aims to onboard the next billion Web3 users with its new wallet.

Bankman-Fried trial nears end: defense claims good faith as prosecution alleges misuse of funds.

Circle said the account closures do not apply to businesses or institutional Circle Mint accounts.

The move is part of an Asia Pacific expansion effort by the cryptocurrency custodian.

Web3 leaders gather in the Future Blockchain Summit in Dubai and we take a deep dive on the woes of crypto’s largest exchange, Binance.

TWT price rose over 15% during the past week, after Trust Wallet announced a major rebranding upgrade.

Nishad Singh testified he bought a house a month before FTX’s collapse despite learning of the exchange’s misuse of customer funds weeks prior.

The Australian Department of the Treasury said it will accept feedback on the draft bill by December.

Once driven by speculation and vanity car plate-like profile images, NFTs are now becoming more useful — with value that is not captured by market prices.

Top blockchain and crypto news: Spotlight on Bankman-Fried, Pudgy Penguins’ new revenue stream and Google’s Web3 goggles

Cryptocurrencies and NFTs are evolving and carving out distinct niches, prompting a closer look at their diverging paths and the emerging trends in the digital financial landscape.

Web2 may be easier than ever to use, but its users are plagued by personal data theft and other security risks. Here’s how Web3 can do better.

The gates are opening for ordinary investors to buy into real-world assets like rare art and fancy real estate. But regulations and compliance hurdles remain.

Bitcoin rose on Friday morning in Asia to trade above US$26,500. Ether also moved higher to over US$1,600. All other top 10 non-stablecoin tokens gained.

Zodia Custody owned by Standard Chartered, announced Tuesday that it is launching its services in Singapore for financial institutions.

Making sure the smart contracts behind DeFi platforms are thoroughly audited isn’t just a job for code developers — it’s also a must for ordinary investors.

Bitcoin, Ether and other cryptos were down Friday morning. U.S. equities were flat as investors look towards August’s jobs report later Friday.

Sam Bankman-Fried, the founder of FTX, pleaded not guilty to a set of new charges tied to last year’s collapse of his crypto empire.

announced Tuesday that it received an operating license from the Virtual Asset Regulatory Authority (VARA) in Dubai.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

The FTX founder faces charges of wire fraud, securities fraud, commodities fraud and money laundering related to the exchange’s collapse in November.

Australian banks are heightening scrutiny on digital asset exchanges and restricting crypto payments due to rising scams and frauds. Caroline Bowler, CEO of BTC Markets highlights the challenges and opportunities faced by the industry in the country.

Storing crypto on an exchange risks theft and hacks. But DIY can also be perilous — just ask the guy who accidentally trashed a hard drive and his Bitcoin fortune.

Officials at the U.S. Department of Justice (DOJ) are considering fraud charges against Binance, according to news site Semafor.

If Web3 wants to be an alternative to traditional finance, the industry must make itself less vulnerable to hacks and security breaches, writes Richard Meissner.

Concerns arise over Worldcoin’s free crypto. NFT market does a crabwalk. Japan’s next big thing for the metaverse.

Russian President Vladimir Putin signed a digital ruble bill into law on Monday, approving the use of its central bank digital currency for payments starting from Aug. 1. See related article: Russia delays CBDC pilot to await new law Fast facts

Shanghai on Tuesday published a set of guidelines to promote use of blockchain, the digital yuan, and the metaverse in the city’s legacy industries.

NAB, one of Australia’s “big four” banks, announced it is taking action to block some payments to “high-risk” cryptocurrency exchanges, as part of its new measures aimed at protecting customers from scams.

China’s Zhejiang province, the home province of e-commerce giant Alibaba Group,has established a metaverse industrial association.

The Financial Stability Board (FSB) published on Monday a global regulatory framework for crypto-asset activities to provide a global regulatory and supervisory foundation for crypto. The recommendations made to the G20 – the 20 leading economies of the world – are based upon the principle of “same activity, same risk, same regulation.”

In a long-awaited decision, the U.S. court ruled in favor of Ripple Labs in its case against the Securities and Exchange Commission, providing a boost to most cryptocurrency prices. But industry participants remain wary.

The global cryptocurrency industry is valued at US$180 billion, with over 10,000 companies employing a total of 190,000 employees, according to a July 5 report from crypto intelligence firm K33 Research. See related article: Singapore, Thailand clarify crypto rules; NFTs become new cultural frontier Fast facts See related article: South Korea, Singapore, Thailand clarify crypto […]

Australian Securities and Investments Commission (ASIC), the country’s financial services regulator, searched the local offices of Binance on Tuesday as part of an ongoing investigation of the exchange’s derivatives business, a Bloomberg report said.

Cryptocurrency service providers in Singapore will have to keep customer assets under a statutory trust before the end of the year, for safekeeping purposes, the city state’s central bank announced Monday.

China Mobile, a leading telecommunication company of China, launched a metaverse alliance on Wednesday, whose members include Huawei, Xiaomi and Unity China. 

Bitcoin shrugged off Prime Trust’s cease order, as risk appetite was bolstered by several TradFi alumni entering the crypto space this week. Could we see more spot Bitcoin ETF applications next week?

Bitcoin remained above US$30,000, even as Nevada state regulators in the U.S. ordered crypto custodian Prime Trust to cease operations.

The relationship between Hong Kong and crypto will likely only grow stronger over time, as it’s based on mutual respect as well as need, writes Lily King.

The ETF, if approved, would be the first publicly traded crypto product of its kind in the U.S., but the SEC just sued crypto exchanges for alleged securities violations and has rejected similar ETF applications in the past.

The SEC sued Binance on Monday, amid mounting regulatory scrutiny of crypto exchanges. Industry experts shared insights on what this could mean for Binance and how it could drive crypto innovation out of the U.S.

Leaders in Hong Kong’s Web3 industry announced the formation of two new associations, Hong Kong Licensed Virtual Assets Association (HKLVAA) and Web3 Harbour, on Monday.

Binance, the world’s largest cryptocurrency exchange, has been accused of blending client funds with its own corporate revenue in violation of U.S. financial regulations, according to three unnamed sources cited by Reuters.

Top blockchain and crypto news: Fighting words over USDT erupt on Twitter. Litecoin surges amid memecoin fever. Chinese city bids for blockchain business.

World’s largest cryptocurrency exchange halts Australian dollar services after payment provider cuts off service.

San Francisco-based Ripple Labs, a technology and financial services firm built around the XRP cryptocurrency, said it will acquire Metaco, a Swiss-based tokenization and digital asset custody provider, for US$250 million. 

Bank of Korea, the central bank, seems uncomfortable with the Financial Services Commission, the country’s regulator, having the mandate over the cryptocurrency industry. The bank is pushing for more say, arguing crypto can influence the stability of the overall financial market and that involves the central bank.

Bitcoin and major cryptocurrencies reacted positively to the latest CPI report that stated annual inflation in the U.S. rose 4.9% in April, beating market expectations.

Goldman Sachs, Microsoft, Deloitte, Moody’s and other institutions are partnering with Digital Asset for the launch of the Canton blockchain.

NFTs are changing in-game item ownership and value, yet the gaming industry remains skeptical. With microtransactions set to exceed $76 billion this year, it’s time for gamers to understand the benefits of NFT technology.

Top blockchain and crypto news: JPMorgan swoops as another bank falls. NFT market rivalry heats up. Bitget seeks Hong Kong exchange license.

A clear and balanced legal framework will encourage more crypto investment, while the industry can promote best practices, writes Mahin Gupta of Liminal.

What are ‘trustless oracles,’ and how will they shape the development of the metaverse and Web3? Markus Levin of XYO and XY Labs explains.

NYDFS superintendent Harris called the idea of Operation Choke Point 2.0 “ludicrous,” but industry participants largely disagree. Was the shutdown of the three largest crypto-friendly institutions a coordinated effort to unbank crypto?

Traditional institutions are testing crypto waters, but given last year’s market carnage, it’s not easy to gain their confidence, writes Simon Schaber of Spool.

The Australian securities regulator has canceled Binance Australia’s derivatives license.

PostFinance, a Swiss government-owned retail bank, has partnered with Sygnum Bank to provide crypto-related services.

Decentralization’s the talk of the town after the collapses of several centralized institutions.

Top blockchain and crypto news: Banking woes boost Bitcoin. Arbitrum counts down to launch. Chinese billionaire faces US crypto scam charges.

Many crypto users see losses as the cost of doing business. In fact, we can and must improve the sector’s deficiencies, writes Pelle Brændgaard of Notabene.

Top blockchain and crypto news: USDC stabilizes after SVB collapse. Silvergate closes shop. China tightens financial supervision.

A deal valued at over US$1 billion between Binance.US and Voyager should be put on hold while key legal objections are worked out, says U.S. government.

Binance, the world’s largest cryptocurrency exchange, announced that it is halting its British pound deposits and withdrawals.

India’s crime fighting agencies have been investigating crypto exchanges and individuals on money laundering charges and have now put the onus on exchanges to report suspicious transactions.

Bitcoin and Ether rose the most in the top 10 non-stablecoin cryptocurrencies by market capitalization on Tuesday afternoon in Asia. Cryptocurrencies have been on a rebound since U.S. regulators took charge of the failures in the banking industry and moved to protect deposits across crypto-linked banks.

What began as novel collectibles and rampant speculation is maturing into real-world utility across a multitude of industries, writes Tom Chalmers of Banxa.

NFT sales and market capitalization show rising investor activities, but recycled liquidity and wash trading may tell a different story, Forkast Labs co-CEO says.

Contagion, regulation worries grow after crypto bank’s demise

Alameda Research has filed a law suit against crypto conglomerate Digital Currency Group and its asset management business Grayscale over trust investments.

Web3 is growing more rapidly than the early internet, writes Ken Timsit of Cronos Labs. But to achieve mainstream success, the following issues must be addressed.