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Bitcoin on the British flag

Binance suspends pound sterling services for U.K. customers as payment provider backs out

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

Bitcoin breaks US$26,000 as inflation cools in February

Bitcoin, the world’s largest cryptocurrency, rallied past the US$26,000 mark at 09:15 p.m. in Hong Kong, shortly after the release of the United States Consumer Price Index (CPI)
India

India imposes money laundering regulations on crypto industry

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.
Pile of Bitcoin Cryptocurrencies

Bitcoin, Ether extend gains as U.S. regulators take charge of banking industry turmoil

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.
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China's emblem on NFT | China regulator says NFT trading complaints skyrocketed in 2022 from prior year | China, NFT - Non-Fungible Token, Scams

China regulator says NFT-related complaints skyrocketed in 2022

Amid the NFT hype in 2022, Chinese buyers’ complaints about NFT scams and price manipulations surged 30,000% to 59,700 from 198 in the year before.
Facebook CEO Mark Zuckerberg And News Corp CEO Robert Thomson Debut Facebook News | Meta plans to wind down NFT initiatives on Facebook, Instagram to focus on other services | meta nft, opensea,

Meta plans to wind down NFT initiatives on Facebook, Instagram to focus on other services

Meta Platforms, the parent company of Facebook and Instagram, will wind down its non-fungible token operations on both social media services.
do kwon in front of american flag | U.S. Justice Department investigating the collapse of Do Kwon’s Terra-Luna, says WSJ |

FBI investigating the collapse of Do Kwon’s Terra-Luna, WSJ reports

Former employees of Do Kwon’s Terraform Labs are being questioned by the FBI and U.S. prosecutors in New York.
NFT with crypto coins

The NFT sector is just getting started. Here’s what lies ahead

What began as novel collectibles and rampant speculation is maturing into real-world utility across a multitude of industries, writes Tom Chalmers of Banxa.
Bitcoin stack upward | Bitcoin jumps above US$24,000, leading crypto gains as U.S. acts to backstop banks | Markets, BTC - Bitcoin, ETH - Ethereum, Silver Gate, Binance

Bitcoin jumps above US$24,000, leading crypto gains as U.S. acts to backstop banks

Bitcoin continued to gain in morning trading in Asia, as regulators acted to backstop the U.S. banking industry. Most of the top 10 cryptocurrencies gained.
Picture of Dante Disparte during a Word on the Block interview with Forkast.News

Banks are bringing systemic risks to crypto, says Circle’s Disparte

The recent U.S. bank failures are proof that the banking system is introducing systemic risks to the crypto industry, not vice versa, says Circle chief strategy officer Dante Disparte.
Euler Finance loses nearly US$200 mln in exploit

Euler Finance loses nearly US$200 mln in exploit

Euler Finance, a decentralized finance lending protocol has lost approximately US$197 million in an exploit, according to online crypto security analysts.
bitcoin on top of a laptop with images of stock market data graphs in the background

Bitcoin, Ether gain after U.S. regulators take charge to shield deposits across crypto-related banks

Bitcoin and Ether gained in Monday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization, after U.S. regulators took charge of Silicon Valley Bank and Signature Bank, both with exposure to crypto industry, protecting deposits and confirming that no losses will be borne by the taxpayer. 
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Cryptocurrencty wallet smartphone app

Beware the perils of one-size-fits-all approach to crypto investing

The collapse of Voyager and Celsius highlights the risks of crypto investing apps and underscores the need for tailored user education, writes Jackson Zeng of Caleb & Brown.
Circle Internet Financial logo in front of cryptocurrencies laid on gravel | Circle says US$3.3 bln USDC reserve at SVB available Monday, announces partnership with Cross River | circle usdc, silicon valley bank, silvergate, signature bank

Circle says US$3.3 bln USDC reserve at SVB available Monday, announces partnership with Cross River

Circle said the USDC reserve deposits held at the failed Silicon Valley Bank will be recovered when banks open on Monday.
Circle CEO Jeremy Allaire

Circle’s USDC stablecoin regains parity as regulators act to stop bank run risk

Circle said its $3.3 billion of USDC cash reserves at the collapsed Silicon Valley Bank will be available Monday after regulators stepped in to backstop deposits.
Bitcoin in plant pots | Bitcoin jumps more than 9% as U.S. acts to protect deposits at crypto-linked banks | Markets, BTC - Bitcoin, ETH - Ethereum, USDC - USD Coin, Silver Gate

Bitcoin jumps more than 9% as U.S. acts to protect deposits at crypto-linked banks

Bitcoin and Ether led a rebound in cryptocurrencies in Asia morning trading as U.S. regulators backstopped banks with ties to the crypto industry.
signature bank official website | U.S. regulators shutter Signature Bank, lender to Paxos, Coinbase, citing systemic risk | silvergate, silicon valley bank

U.S. regulators shutter Signature Bank, lender to Paxos, Coinbase, citing systemic risk

U.S. regulators closed New York-based Signature Bank, one of the biggest lenders in the crypto industry, due to risks of a systemic failure.
Bitcoin coins on keyboard computer with trading exchange graph

Weekly Market Wrap: Bitcoin falls below US$20,000 as Silvergate collapse, rate hike concerns rise

Bitcoin fell below US$20,000 for the first time since Jan. 13 on the back of crypto bank Silvergate’s collapse and the U.S. Fed signaling higher than expected interest rate hikes.
Meta working on a decentralized social media app: Moneycontrol

Meta working on a decentralized social media app: Moneycontrol

Meta Platforms, the parent company of the social media applications Facebook and Instagram, is exploring a decentralized text-based Twitter alternative.
Solana-focused NFT marketplace Tensor. Image: screenshot of tensor.trade

Solana NFT sales surge as traders farm for Tensor rewards

The Forkast SOL NFT Composite dropped 6.13% over the past week while sales increased. Industry expert suspects casino-like behavior of traders moving funds to new projects.
Images from some of the most popular NFT collections, side by side

Bet on the Black? Take a punt on the Red? Or maybe put it all down on an NFT?

Savvy traders are quick to extract liquidity to reinvest into the “slot machines” of the NFT casino, according to CryptoSlam’s NFT strategist.
Bitcoin, Ether rise

Bitcoin, Ether, Forkast 500 NFT index close lower on the day

Bitcoin and Ether tumbled during Asia trading hours on Friday afternoon, with Dogecoin leading losses among the top 10 largest non-stablecoin cryptocurrencies by market capitalization, pressured by crypto bank Silvergate’s liquidation
NEW YORK, NEW YORK - SEPTEMBER 21: NY Attorney General Letitia James speaks during a press conference at the office of the Attorney General on September 21, 2022 in New York, New York. NY AG James announced today that her office is suing former President Donald J. Trump and his children Donald Trump Jr., Ivanka Trump, and Eric Trump accusing the family of fraudulent statements of financial conditions to obtain millions in economic benefits. The lawsuit seeks to remove Trump and his children from their roles at their organizations and bans them from future leadership roles in the state of NY and repay $250 million that was illegally obtained. (Photo by Michael M. Santiago/Getty Images)

New York attorney general sues KuCoin for ‘falsely representing itself as an exchange’

The NY State Attorney General is suing crypto exchange Kucoin for not registering as a securities and commodities broker-dealer and calling itself an exchange.
President Biden Speaks At The House Democratic Caucus Issues Conference In Baltimore | Biden administration proposes 30% crypto mining tax, closing wash-trading loopholes | crypto mining tax, wash trade crypto

Biden administration proposes 30% crypto mining tax, closing wash-trading loopholes

The U.S. has proposed an excise tax on cryptocurrency miners equal to 30 percent of the cost of the electricity they use.
a-person-holding-a-mobile-phone-with-an-nft | Forkast 500 NFT Index slides, Polygon blockchain NFT sales jump nearly 250%

Forkast 500 NFT Index slides, Polygon blockchain NFT sales jump nearly 250%

The Forkast 500 NFT Index fell to a near two-month low in Asia trading on Friday morning, with sales slumping on the Ethereum and Solana blockchains, the two biggest for non-fungible tokens. Polygon, the third biggest, saw a sales surge.
Bitcoins in front of red background | Bitcoin, Ether slump in broad sell-off amid Fed warnings on rates, Silvergate Bank failure | Markets, BTC - Bitcoin, ETH - Ethereum, Silver Gate, Federal Reserve

Bitcoin, Ether slump in broad sell-off amid Fed red flags on rates, Silvergate Bank failure

Bitcoin and other leading cryptocurrencies slid Friday morning in Asia, tracking equities amid red flags on interest rates and concern about fallout from the Silvergate collapse.
global trade

Why global coordination on crypto regulation is paramount

In the race to tame crypto’s excesses, we need to avoid regulatory clashes while DeFi draws lessons from TradFi, writes Rachel Lin of SynFutures.
Randy Wasinger, co-chief executive officer of Forkast Labs

Most of NFT industry working on recycled liquidity, says Forkast Labs’ co-founder

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.
CFTC chair calls Ethereum a commodity, in contrast to SEC chair Gensler’s position

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.
Bitcoin, Ether fall amid interest rate hike fears, Silvergate liquidation; Forkast NFT 500 index slips 0.79%. Bitcoin on a home computer chart and money and investment

Bitcoin, Ether fall amid interest rate hike fears, Silvergate liquidation; Forkast NFT 500 index slips 0.79%

Bitcoin and Ether fell in evening trading in Asia Thursday, with XRP the sole gainer in 24 hours among the top 10 non-stablecoin cryptocurrencies by market cap.
China emblem on "NFT" | China’s parliament member to propose NFT regulation at ‘Two Sessions’ | China, NFT - Non-Fungible Token, Regulation & Law, Digital Assets

China’s parliament member to propose NFT regulation at ‘Two Sessions’

NFTs have entered China’s Two Sessions, with a delegate to propose an NFT regulatory framework.
seoul envato

South Korea pours US$51 million into metaverse projects

South Korea is investing 27.7 billion Korean won (US$21 million) into local services looking to utilize the metaverse, the ministry of science announced Wednesday, following Tuesday’s news that it would establish a US$30 million metaverse fund to help startups expand their businesses. See related article: Japanese tech, finance firms sign pact to build metaverse economic […]
Canaan mining rigs. Image: Canaan's Twitter

Crypto mining rig maker Canaan shares slump after Q4 revenue sank 82%

Canaan’s shares on Nasdaq closed 3.83% lower at US$2.51 on Wednesday after the cryptocurrency mining rig maker reported an 82% year-on-year drop in revenue on Tuesday for the fourth quarter of last year, citing “lackluster market demand” for mining machines as the price of Bitcoin fell.
Hand holding up closed sign

Crypto bank Silvergate to close, return all deposits; becomes latest victim of 2022 crypto turmoil

Silvergate Capital said Wednesday it will cease operations and liquidate its bank unit.
Gitcoin Presents, an NFT collection linked to Ethereum creator Vitalik Buterin. Image: screenshot of OpenSea

Forkast 500 NFT index dips, Vitalik-linked NFT token gains momentum

The Forkast 500 NFT Index dipped 1.25% to 4,235.97 in the 24 hours through 10:00 a.m. in Hong Kong on Thursday.
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Stacked cryptocurrencies | Bitcoin crashes through US$22,000 floor as failure of Silvergate crypto bank hits market | Markets, BTC - Bitcoin, ETH - Ethereum, Silver Gate

Bitcoin crashes through US$22,000 floor as failure of Silvergate crypto bank hits market

The shuttering of Silvergate Bank was not unexpected, but it still drove Bitcoin and most of the top 10 non-stablecoin cryptocurrencies lower on Thursday morning in Asia.
Merlion Park in Singapore; Bitcoin crypto

How Singapore’s crypto ambitions are taking shape and what other nations can learn

Unique in the world, Singapore is a big investor and player in digital assets while advancing regulations that favor institutions over individual crypto users, writes Danny Chong of Tranchess.
Voyager logo on a purple background

Voyager gains court approval to sell assets to Binance U.S. in US$1.3 bln deal

Bankrupt crypto lender Voyager Digital received court approval from bankruptcy Judge Michael Wiles on Tuesday to sell its assets and transfer its customers to Binance’s U.S. arm, in a US$1.3 billion deal.
Thailand to offer tax breaks to companies issuing investment tokens

Thailand to offer tax breaks to firms issuing investment tokens

The Thai Finance Ministry will waive corporate income tax and value-added tax for firms that conduct initial coin offerings (ICOs), according to a spokesperson.
Silvergate teeters as regulators circle and crypto firms cut ties

Silvergate teeters as regulators circle and crypto firms cut ties

Top blockchain and crypto news: Silvergate woes spark bankruptcy talk. LDO dips on false enforcement rumors. Chinese leaders push digital development.
Bitcoin cryptocurrency gold coin. Trading on the cryptocurrency exchange. Trends in bitcoin exchange rates. Rise and fall charts of bitcoin

Bitcoin, Ether fall amid U.S. Fed chair warning of more interest rate hikes; Forkast NFT 500 index slips 0.65%

Bitcoin and Ether fell in afternoon trading in Asia on Wednesday, with XRP the sole gainer among the top 10 non-stablecoin cryptocurrencies by market cap.
Virtual Internet Business Innovation Future Block NFT | Forkast 500 NFT index slips, BAYC NFTs sees highest sales volume | bayc, forkast nft 500, ethereum, polygon, solana, mocaverse, coinllectibles, sorare

Forkast 500 NFT index slips, BAYC NFTs leads in sales volume

The Forkast NFT 500 Index slipped 0.68% to 4,276.12 in the 24 hours through 4:45 p.m. in Hong Kong on Wednesday.
Federal Reserve Chairman Jerome Powell testified before Congress on Tuesday. Image: Congress hearing livestream

Fed’s Powell says stablecoins could have role in financial sector if properly regulated

Stablecoins could have a place in the U.S. financial services sector if appropriate regulation is put in place, Federal Reserve Chairman Jerome Powell said on Tuesday at a hearing before Congress.
NFT letters on top of digital board | Forkast 500 NFT index edges up, Animoca Brands’ NFT collection leads in sales | forkast nft 500, cryptoslam, ethereum, bayc, otherdeed, mocaverse

Forkast 500 NFT index edges up, Animoca Brands’ NFT collection leads in sales

The Forkast NFT 500 Index inched up 0.07% to 4,278.68 in the 24 hours through 9 a.m. in Hong Kong on Wednesday.
Stack of cryptocurrencies | Bitcoin dips, Ether little changed, with top 10 crypto mixed following U.S. equity slump | Markets, BTC - Bitcoin, ETH - Ethereum, Federal Reserve

Bitcoin dips, Ether little changed, with top 10 crypto mixed following U.S. equity slump

Bitcoin and other major cryptocurrencies traded mixed on Wednesday morning in Asia, largely shrugging off the slump in U.S. equities overnight.
SEC

SEC shuts Miami hedge fund for alleged ties to US$100 mln crypto fraud 

The SEC announced emergency action against crypto hedge fund BKCoin and co-founder Kevin Kang in connection with an alleged fraud scheme.
Blur logo, OpenSea logo

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.
FTX's Alameda sues Grayscale over crypto trusts

FTX’s Alameda sues Grayscale over crypto trusts

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

Bitcoin, Ether inch up as investors await U.S. Fed chair’s comments; Forkast NFT 500 index dips 0.44%

Bitcoin and Ether gained in Tuesday afternoon trade in Asia, along with most other top 10 non-stablecoin cryptocurrencies. Polygon’s Matic token led gains followed by XRP and Dogecoin.
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Hong Kong flag above a laptop | Hong Kong’s crypto scam losses in 2022 more than double from 2021: SCMP | Hong Kong, Cryptocurrencies, Scams, Crime, Cybersecurity

Hong Kong’s crypto scam losses in 2022 more than double from 2021: SCMP

Crypto scams accounted for over half of Hong Kong’s losses from computer-related crimes in 2022.
Logos of WeChat and Digital Yuan | China’s Wechat social media giant integrates digital yuan into payment platform | Digital Yuan, Tencent, WeChat Pay, CBDC - Central Bank Digital Currency, China

China’s WeChat social media giant integrates digital yuan into payment platform

WeChat, China’s leading social networking and payment app, has integrated the digital yuan into its payment network, which may help adoption of the CBDC.
Close up picture of South Korean won, shallow depth of field. | South Korea reports US$4.3 billion in illegal foreign transactions involving cryptocurrencies

South Korea reports US$4.3 billion in illegal foreign transactions involving cryptocurrencies

The Korea Customs Service has identified US$4.3 billion worth of illegal foreign currency transactions last year involving cryptocurrencies.
Bitcoin in front of a chart | Bitcoin, Ether little-changed to lower in downtrend day; Forkast NFT 500 index dips | Markets, NFT - Non Fungible Token, BTC - Bitcoin, ETH - Ethereum, Forkast 500 NFT

Bitcoin, Ether little-changed in downtrend day; Forkast NFT 500 index dips

Bitcoin and Ether traded mostly flat in a downtrend move for most of the top 10 cryptocurrencies in Tuesday morning in Asia. The new Forkast NFT 500 index slipped.
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Forkast Labs

The digital economy needs a better BS detector — so we are building it through data transparency

Blockchain data is public for all to see. The irony is that few know what to look for, and why. A new set of indexes by Forkast Labs filters out the noise and offers data intelligence and clarity.
Kraken exchange logo on a smartphone screen

Kraken to launch U.S. crypto bank amid regulatory headwinds

U.S.-based cryptocurrency exchange Kraken is working on establishing its own bank, despite the recent regulatory headwinds
Singapore city

Singapore police begin probe linked to Do Kwon’s Terraform Labs: Bloomberg

Singapore’s police have begun investigations linked to Terraform Labs that was co-founded by fugitive Do Kwon, according to a Bloomberg report.
Bitcoin ATM firm accused of profiting from crypto scams via unlicensed machines: U.S. Secret Service

Bitcoin ATM firm accused of profiting from crypto scams via unlicensed machines: U.S. Secret Service

A crypto tech firm and three of its executives have been indicted for allegedly operating unlicensed Bitcoin ATMs in the U.S. that profited from scams.
Gold bitcoin physical coins on paper currency

Bitcoin gains, all other top 10 cryptos in the red amid Silvergate fallout

Bitcoin gained in Monday afternoon trade in Asia while all other top 10 non-stablecoin cryptocurrencies by market capitalization posted losses.
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Forkast Opinion Images 4

What Web3 must do if it wants to attract 1 billion users

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.
Binance chief changpeng zhao in dark room wearing yellow binance hoodie | Binance documents show ties to U.S. unit unknown to regulators, WSJ reports | cz binance binance.us

Binance documents show ties to U.S. unit unknown to regulators, WSJ reports

Binance, the world’s largest cryptocurrency exchange, reportedly didn’t disclose the extent of its ties and control over Binance.US, WSJ reported.
Bybit exchange logo | Bybit suspends U.S. dollar bank transfers, may be linked to Silvergate shuttering crypto banking network | silvergate, bybit usd transfer

Bybit suspends U.S. dollar bank transfers, possible link to Silvergate shuttering crypto banking network

Bybit suspended U.S. dollar deposits and withdrawals via wire and bank transfers due to “service outages from a partner.”
Scattered cryptocurrencies | Bitcoin treads water below US$22,500, Ether dips with other top 10 cryptocurrencies | Markets, BTC -Bitcoin, ETH - Ethereum, Silver Gate, Inflation

Bitcoin treads water below US$22,500, Ether dips with other top 10 cryptocurrencies

Bitcoin and other top 10 cryptocurrencies fell on Monday morning amid concern about the troubled crypto bank Silvergate.
Momoguro characters featured under the "sold out" sign

Momoguro NFTs sell out in 9 hours, generates US$7.6 mln of sales

Momoguro: Holoself, an Ethereum-native non-fungible token (NFT) collection launched by Emmy-winning animation studio, Baobab Studios, generated over 12,000 sales worth US$7.6 million on the first day of its launch, according to NFT data aggregator CryptoSlam. See related article: Weekly NFT sales drop, unique buyers surge amid Coinbase’s new NFT airdrop Fast facts See related article: […]
Bitcoin in front of graphs. | Silvergate reports US$1 billion loss, attributes to “crisis of confidence” in crypto sector.

Weekly Market Wrap: Bulls fight to keep Bitcoin above US$22,300, as industry experts predict ‘crab walk’

With 69% of Bitcoin supply in profit, BTC is struggling to stay above the US$22,300 support level. A daily close below US$22,300 could see Bitcoin retest the US$21,450 support level. Industry experts share their end-of-March Bitcoin price predictions with Forkast.
Ethereum core developers delay Shanghai hard fork to early April

Ethereum core developers delay Shanghai hard fork to early April

The expected launch of the Shanghai hard fork has been delayed from late March to the first two weeks of April, according to Ethereum developers on Thursday.
Dogecoin, litecoin, etheteum and bitcoin, Markets: Dogecoin reenters top 10 tokens by market cap, Bitcoin and Ethereum up

Bitcoin, Ether fall; Litecoin is biggest loser of day

Bitcoin and Ether fell by the end of Asian trading hours on Friday afternoon, together with all other top 10 non-stablecoin cryptocurrencies by market capitalization, weighed by the financial woes of crypto-focused bank Silvergate.
cryptoslam data

Weekly NFT sales drop, unique buyers surge amid Coinbase’s new NFT airdrop

The number of unique buyers rose to an all-time high this week after crypto exchange Coinbase dropped free NFTs to celebrate the launch of its new Layer 2 network Base.
China's leadership held annual Two Sessions political meetings at the Great Hall of the People in March 2022 in Beijing. Image: Getty Images

Where is China’s digital economy heading? The ‘Two Sessions’ may give some pointers

Look for blockchain, self-reliance in technology discussions in China’s biggest political meetings of the year as China’s President Xi Jinping’s aims to build a digital economy.
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silvergate logo, circle usdc logo | Circle joins Crypto.com, Coinbase in cutting ties with embattled crypto bank Silvergate

Circle joins Crypto.com, Coinbase in cutting ties with embattled crypto bank Silvergate

USDC issuer Circle said Friday that it is withdrawing from “certain services that involve” California-based cryptocurrency bank Silvergate.
vote checkbox

Why DAO governance is riddled with problems and voting is a farce

DAOs are supposed to be democratic, egalitarian and inclusive, but those ideals are far from the current reality, writes Awa Sun Yin of Namada.
Bitcoin on red | Bitcoin falls below US$23,000, Ether slides in crypto price slump across the board | Markets, BTC - Bitcoin, ETH - Ethereum, Silver Gate

Bitcoin falls below US$23,000, Ether slides in crypto price slump across the board

Bitcoin and Ether prices slumped in Friday morning trading in Asia, along with all other top 10 non-stablecoin cryptocurrencies.
Australian dollars and nano wallet on the desk

Australia’s central bank identifies CBDC use cases as it prepares pilot launch

Australia has outlined potential use cases and providers for a central bank digital currency (CBDC), with a pilot program to be launched in the coming months.

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An unmissable weekly round up of the biggest stories in emerging tech from an Asian perspective, featuring commentary from Forkast Editor-in-Chief Angie Lau. Check out recent editions.