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![More bad news for South Korea’s Bithumb exchange with “Kimchi coin” manipulation allegations 1 bithumb office in Gangnam, Seoul | More bad news for South Korea’s Bithumb exchange with “Kimchi coin” manipulation allegations | bithumb, south korea, bithumb investigation, kang ji-yeon, kang jong-hyun](https://forkast.news/wp-content/uploads/2023/01/bithumb-1260x697.png)
More bad news for South Korea’s Bithumb exchange with “Kimchi coin” manipulation allegations
Prosecutors raided the Bithumb crypto exchange on Thursday on allegations of price manipulation and fraudulent transactions in local tokens,
![Are weak DAOs inviting attacks and manipulation? 2 security scan identifying a computer exploit in a string of binary code](https://forkast.news/wp-content/uploads/2022/11/Forkast-Opinion-Images-16-1260x710.png)
Are weak DAOs inviting attacks and manipulation?
Decentralized autonomous organizations suffer from faulty code and lax governance, which the unscrupulous can easily exploit, writes Michael Lewellen of OpenZepplin.
![Markets: Bitcoin dips but holds above US$23,000, Ether slips, Polygon biggest gainer in top 10 3 Ethereum and Bitcoin | Markets: Bitcoin dips but holds above US$23,000, Ether slips, Polygon biggest gainer in top 10 | bitcoin news, bitcoin price today, ether news, ether price today, polygon mastercard, polygon matic, polygon arkham intelligence](https://forkast.news/wp-content/uploads/2023/01/ethereum-and-bitcoin-2021-08-26-23-03-01-utc-1260x841.jpg)
Markets: Bitcoin dips but holds above US$23,000, Ether slips, Polygon biggest gainer in top 10
Bitcoin and Ether gave up some of their January gains in Friday morning trading in Asia, though both are still higher for the week.
![Coinbase fined US$3.6 mln by Dutch central bank 4 Coinbase](https://forkast.news/wp-content/uploads/2022/12/GettyImages-1352237948.jpg)
Coinbase fined US$3.6 mln by Dutch central bank
The Dutch central bank (DNB) has fined U.S.-based cryptocurrency exchange Coinbase €3.3 million (US$3.6 million) for failing to obtain correct registrations
![Apple, New York Times, Hong Kong Government listed among FTX creditors 5 FTX balance sheet](https://forkast.news/wp-content/uploads/2023/01/Picture1-1260x708.png)
Apple, New York Times, Hong Kong Government listed among FTX creditors
Lawyers for the bankrupt cryptocurrency exchange, FTX.com, filed a document with a list of its institutional creditors on Thursday, which included major technology firms, publications and government bodies.
![Markets: Bitcoin, Ether up; ADA posts most gains among top 10 cryptos 6 Cryptocurrency trading platform visible on a screen](https://forkast.news/wp-content/uploads/2022/12/kraken2-1260x569.jpeg)
Markets: Bitcoin, Ether up; ADA posts most gains among top 10 cryptos
Bitcoin and Ether were up during Asia trading hours on Thursday afternoon as many markets in Asia returned from the Luna New Year break. Cardano’s ADA led the rally among top 10 non-stablecoin cryptocurrencies by market capitalization.
![World Economic Forum’s digital asset head expects real-world blockchain adoption in 2023 7 Forkast.News Editor-in-chief Angie Lau (left), World Economic Forum Head of Blockchain and Digital Assets Brynly Llyr (right) | World Economic Forum’s digital asset head expects real-world blockchain adoption in 2023 | crypto, davos 2023](https://forkast.news/wp-content/uploads/2023/01/davos-1260x705.png)
World Economic Forum’s digital asset head expects real-world blockchain adoption in 2023
Cryptocurrencies post the Terra-Luna, FTX failures were a debated topic at the World Economic Forum meeting in Davos in the week through Jan. 20, with some authorities calling for a doubling down on regulations. Others had a more nuanced view.
![An open letter to Sen. Elizabeth Warren: Your shotgun approach to crypto is dangerous for America 8 Forkast Opinion Images 4](https://forkast.news/wp-content/uploads/2023/01/Forkast-Opinion-Images-4-1260x710.png)
An open letter to Sen. Elizabeth Warren: Your shotgun approach to crypto is dangerous for America
FTX’s implosion is spurring a regulatory scramble to rein in the crypto sector. But one influential US lawmaker may do more harm than good, writes Kadan Stadelmann, CTO of Komodo.
![Markets: Bitcoin, Ether prices rise as crypto market stages rebound; Solana biggest gainer among top 10 9 bitcoin crypto currency diagram | Markets: Bitcoin, Ether prices rise as crypto market stages rebound; Solana biggest gainer among top 10 | bitcoin price, ether price, crypto price, cardano, solana, polygon](https://forkast.news/wp-content/uploads/2023/01/bitcoin-crypto-currency-diagram-2022-07-07-16-02-20-utc-1260x840.jpg)
Markets: Bitcoin, Ether prices rise as crypto market stages rebound; Solana biggest gainer among top 10
Bitcoin and Ether rebounded in Thursday morning trading in Asia amid broad gains in the top 10 non-stablecoin cryptocurrencies.
![DCG-owned Luno exchange to axe 35% of its staff 10 Digital Currency Group](https://forkast.news/wp-content/uploads/2023/01/Digital-Currency-Group-1260x710.png)
DCG-owned Luno exchange to axe 35% of its staff
Cryptocurrency exchange Luno, the London-based trading platform owned by venture capital firm Digital Currency Group (DCG), will let go of 35% of its global workforce
![EU looks to place limit on banks holding crypto 11 European Union flag with a golden Bitcoin in the background](https://forkast.news/wp-content/uploads/2022/03/European-Union-Bitcoin-1260x709.png)
EU looks to place limit on banks holding crypto
European Union lawmakers have voted in favor of a draft bill that imposes stricter capital requirements on banks holding crypto assets.
![Bankrupt BlockFi's financials show US$1.2 bln exposure to FTX, Alameda: report 12 Bankrupt BlockFi's financials show US$1.2 bln exposure to FTX, Alameda](https://forkast.news/wp-content/uploads/2023/01/Screenshot-2023-01-25-131759-1260x708.jpg)
Bankrupt BlockFi’s financials show US$1.2 bln exposure to FTX, Alameda: report
Bankrupt BlockFi reportedly had over US$1.2 billion of assets tied to FTX.com and its sister trading firm Alameda Research
![Will Genesis meet its maker amid creditors closing in? 13 Top blockchain and crypto news: Genesis bankruptcy begins. FTX chief ponders a reboot. China’s CBDC gets a smart-contract upgrade.](https://forkast.news/wp-content/uploads/2023/01/Will-Genesis-meet-its-maker-amid-creditors-closing-in-1260x710.png)
Will Genesis meet its maker amid creditors closing in?
Top blockchain and crypto news: Genesis bankruptcy begins. FTX chief ponders a reboot. China’s CBDC gets a smart-contract upgrade.
![Markets: Bitcoin, Ether extend losses; Solana, Cardano biggest losers in top 10 cryptos 14 cryptocurrency and stock market business concept](https://forkast.news/wp-content/uploads/2023/01/bitcoin-14-1260x1260.jpg)
Markets: Bitcoin, Ether extend losses; Solana, Cardano biggest losers in top 10 cryptos
Bitcoin and Ethereum fell in Wednesday afternoon trading in Asia, as Solana and Cardano led losses among the other top 10 non-stablecoin cryptocurrencies by market capitalization.
![Blockstream says it raised US$125 million to expand Bitcoin mining operations 15 Bitcoin mining machines. | Blockstream says it raised US$125 million to expand Bitcoin mining hosting operations](https://forkast.news/wp-content/uploads/2023/01/bitcoinmining3-1260x840.jpg)
Blockstream says it raised US$125 million to expand Bitcoin mining operations
Blockchain infrastructure firm Blockstream Corporation Inc. on Tuesday said it raised US$125 million from convertible note and secured loan financing to expand its Bitcoin mining operations and meet strong demand for what it called “institutional hosting services.”
![Binance says it erroneously mixed customer funds with collateral for Binance-issued tokens 16 Bitcoins sitting inside a wallet. | Binance says it erroneously mixed customer funds with collateral for Binance-issued tokens](https://forkast.news/wp-content/uploads/2023/01/Bitcoinwallet-1260x840.jpg)
Binance says it erroneously mixed customer funds with collateral for Binance-issued tokens
Binance Holdings Ltd., the world’s largest cryptocurrency exchange, acknowledged it mistakenly stored customer funds in the same wallet holding collateral for its Binance-pegged tokens, known as B-Tokens
![Japan’s financial regulator aims to lift ban on foreign stablecoins by June this year 17 tokyo and tether stablecoin token on top of dollar bills | Japan’s financial regulator aims to lift ban on foreign stablecoin trading by June this year | japan stablecoin crypto regulation stablecoin ban](https://forkast.news/wp-content/uploads/2023/01/Untitled-design-10-1260x709.jpg)
Japan’s financial regulator aims to lift ban on foreign stablecoins by June this year
Japan plans to introduce regulations by June this year that will allow domestic investors to trade certain stablecoins from overseas.
![Markets: Bitcoin, Ether dip as investors take profits; earnings reports, economic data rattle equities 18 Bitcoin and U.S. cash on table. | Markets: Bitcoin, Ether dip as investors take profits; earnings reports, economic data rattle equities](https://forkast.news/wp-content/uploads/2023/01/BitcoinMoney2-1-1260x840.jpg)
Markets: Bitcoin, Ether dip as investors take profits; earnings reports, economic data rattle equities
Bitcoin and Ether fell in Wednesday morning trading in Asia, along with the other top 10 non-stablecoin cryptocurrencies as investors seemed to be taking profits after the strong gains in crypto prices since the start of the year.
![Regulators should not legitimize ‘purely speculative’ crypto activity: Singapore’s monetary authority chief 19 Chairman of the Monetary Authority of Singapore Tharman Shanmugaratnam speaking at the "Banking in the Eye of the Storm" panel at Davos 2023. Regulators should not legitimize ‘purely speculative’ crypto activity: Singapore’s monetary authority chief.](https://forkast.news/wp-content/uploads/2023/01/Screenshot-2023-01-24-113733-2-1260x706.jpg)
Regulators should not legitimize ‘purely speculative’ crypto activity: Singapore’s monetary authority chief
Regulators should not legitimize “purely speculative” activity in crypto markets following the collapse of FTX, said Monetary Authority of Singapore Chairmen.
![Markets: Bitcoin rises above US$23,000; Polkadot, BNB lead gains across top 10 cryptos 20 Bitcoins and dollars](https://forkast.news/wp-content/uploads/2023/01/bitcoin-11-1260x841.jpg)
Markets: Bitcoin rises above US$23,000; Polkadot, BNB lead gains across top 10 cryptos
Bitcoin broke the US$23,000 resistance line in Tuesday afternoon trading in Asia, with most other top 10 non-stablecoin cryptocurrencies by market capitalization also higher.
![Bankrupt crypto lender Genesis ‘optimistic’ about resolving creditor dispute: Reuters 21 genesis logo | Digital Currency Group’s crypto brokerage Genesis Global Capital files for bankruptcy](https://forkast.news/wp-content/uploads/2023/01/Picture1-1260x709.jpg)
Bankrupt crypto lender Genesis ‘optimistic’ about resolving creditor dispute: Reuters
Genesis Global Capital’s lawyers are confident about resolving their disputes with creditors this week, with the goal of emerging from Chapter 11 in May.
![Ethereum’s Shanghai Mainnet moves one step closer as “Shadow Fork” goes live 22 The reflection and shadow of a fork. Ethereum’s Shanghai Mainnet moves one step closer as “Shadow Fork” goes live](https://forkast.news/wp-content/uploads/2023/01/ForkShadow-1260x844.jpg)
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 Islamic finance is thriving despite global market storms 23 Mosque (left), figure showing cryptocurrency investments spike in value (right)](https://forkast.news/wp-content/uploads/2023/01/2-1260x710.png)
Why Islamic finance is thriving despite global market storms
While much of the world economy remains mired in winter doldrums, it’s springtime for the Islamic finance sector. Mohammed AlKaff AlHashmi of Islamic Coin explains why.
![Markets: Bitcoin edges higher, Ether little changed; XRP, Polkadot post strong gains in mixed market 24 Pile of golden bitcoin tokens laid out](https://forkast.news/wp-content/uploads/2023/01/Bitcoin-10-1260x841.jpg)
Markets: Bitcoin edges higher, Ether little changed; XRP, Polkadot post strong gains in mixed market
Bitcoin edged higher to the US$23,000 resistance line, while Ether traded little changed in mixed early morning trading in Asia on Tuesday.
![India’s CoinDCX exchange says crypto tax rules are reducing government revenue 25 Sumit Gupta](https://forkast.news/wp-content/uploads/2023/01/gupta2.jpg)
India’s CoinDCX exchange says crypto tax rules are reducing government revenue
India announces its full year budget on Feb. 1, the last before general elections in 2024, and the cryptocurrency and digital asset industry is lobbying the government for changes in tax rules, among others.
![Binance says Signature Bank no longer supports crypto exchange transactions of under US$100,000 26 Signature Bank. Binance says Signature Bank no longer supports crypto exchange transactions of under US$100,000.](https://forkast.news/wp-content/uploads/2023/01/Picture2-2-1260x709.png)
Binance says Signature Bank no longer supports crypto exchange transactions of under US$100,000
Signature Bank will not handle transactions of less than US$100,000 for crypto exchange customers starting in February, according to exchange giant Binance.
![U.S.’ first nuclear-powered Bitcoin mining center to open in Q1 27 Bitcoin and others cryptocurrencies mining farm. GPU graphic cards rig for cryptocurrency mining](https://forkast.news/wp-content/uploads/2022/08/mining-1.jpg)
U.S.’ first nuclear-powered Bitcoin mining center to open in Q1
The U.S. will open its first nuclear-powered data center offering Bitcoin mining in the first quarter of the year.
![Crypto ads should include risk warnings, says South African advertising regulation group 28 South Africa flag is depicted on the screen with the program code. The concept of modern technology and site development.](https://forkast.news/wp-content/uploads/2023/01/south-africa-flag-is-depicted-on-the-screen-with-2022-11-14-16-03-46-utc-1260x709.jpg)
Crypto ads should include risk warnings, says South African advertising regulation group
Crypto ads airing in South Africa must warn potential investors of risks, according to new guidelines by the country’s Advertising Regulatory Board (ARB).
![Markets: Bitcoin slips, remains above US$22,000; Dogecoin leads gains 29 Bitcoin](https://forkast.news/wp-content/uploads/2023/01/bitcoin-9-1260x708.jpg)
Markets: Bitcoin slips, remains above US$22,000; Dogecoin leads gains
Bitcoin dipped 0.89% in Monday afternoon trading in Asia but remained above a four-month high of US$22,00, while all other top 10 non-stablecoin cryptocurrencies by market capitalization were mixed.
![Why Europe’s DORA regulation is a band aid but not a cure 30 European Union concept with gavel and brown paper with the word legislation](https://forkast.news/wp-content/uploads/2023/01/Forkast-Opinion-Images-2-1260x710.png)
Why Europe’s DORA regulation is a band aid but not a cure
EU’s new Digital Operational Resilience Act aims to help firms withstand cyberattacks. Monica Oravcova of Naoris Protocol explains why it doesn’t go far enough.
![Binance Charity to fund over 30,000 Web3 scholarships in 2023 31 Students working at a computer. | Binance Charity to fund over 30,000 Web3 scholarships in 202](https://forkast.news/wp-content/uploads/2023/01/students-1260x840.jpg)
Binance Charity to fund over 30,000 Web3 scholarships in 2023
Binance Charity Fund, the philanthropic arm of the world’s largest crypto exchange, Binance Global Inc., has announced it is funding 30,665 Web3 scholarships in 2023.
![Genesis’s trading arm moving funds on blockchain, bankrupt units reveal extent of liabilities 32 Stack of Ethereum coins. | Bankrupt Genesis’s trading arm still moving funds on blockchain, reveals extent of liabilities.](https://forkast.news/wp-content/uploads/2023/01/Ethereumstack-1260x841.jpg)
Genesis’s trading arm moving funds on blockchain, bankrupt units reveal extent of liabilities
According to on-chain data, the trading arm of bankrupt crypto lending firm Genesis is still moving funds around on the blockchain.
![Markets: Bitcoin holds at four-month high above US$22,000, crypto market cap back over US$1 trillion 33 Bitcoins sitting on top of U.S. cash. | Markets: Bitcoin holds at 4-month high above US$22,000, crypto market cap back above US$1 trillion](https://forkast.news/wp-content/uploads/2023/01/Bitcoin33-1260x664.jpg)
Markets: Bitcoin holds at four-month high above US$22,000, crypto market cap back over US$1 trillion
Bitcoin traded little changed Monday morning in Asia, holding above a four-month high of US$22,000 amid a broader rally over the weekend, helped by comments from a U.S. Federal Reserve official backing a smaller interest rate increase at the central bank’s meeting at the end of this month.
![Crypto is second most owned asset class for young women after cash: report 34 Women in an office working on their laptops](https://forkast.news/wp-content/uploads/2022/07/women-1260x841.jpg)
Crypto is second most owned asset class for young women after cash: report
Cryptocurrency is the second most owned asset class for women after cash, according to an Etoro report
![Accelerator Graviton to help Indian Web3 start-ups get funding 35 Angel invertor. Investing in start-up companies.](https://forkast.news/wp-content/uploads/2023/01/VCs-1260x832.jpg)
Accelerator Graviton to help Indian Web3 start-ups get funding
India-focused accelerator Graviton has announced an initiative to help Indian Web 3.0 start-ups get up to US$50,000 in funding
![Crypto lender Nexo to pay US$45 mln to settle U.S. SEC charges 36 Nexo trading platform](https://forkast.news/wp-content/uploads/2022/09/Nexo-1260x709.jpg)
Crypto lender Nexo to pay US$45 mln to settle U.S. SEC charges
Crypto lender Nexo Capital has agreed to pay US$45 million in a settlement with the SEC and the NASAA, over allegations of failing to register its lending product,
![Markets: Bitcoin dips below US$21,000 37 Bitcoin and chart](https://forkast.news/wp-content/uploads/2023/01/bitcoin-8-1260x840.jpg)
Markets: Bitcoin dips below US$21,000
Bitcoin slipped below US$21,000 in Friday afternoon trade in Asia while prices of other top 10 non-stablecoin cryptocurrencies were mixed.
![Weekly Market Wrap: Bitcoin up over 21% in best weekly performance since Feb. 2021. Bull run or bull trap? 38 Golden Bitcoin token, with a screen showing a Bitcoin chart in the background.](https://forkast.news/wp-content/uploads/2023/01/wazirx-1-1260x840.jpg)
Weekly Market Wrap: Bitcoin up over 21% in best weekly performance since Feb. 2021. Bull run or bull trap?
Bitcoin’s price has had its best weekly run up since February 2021 in the seven days through Jan. 18, but is that the start of a bull run or setting up the optimists for a sucker punch? Experts share their predictions with Forkast.
![Binance among top Bitcoin receivers of Bitzlato’s illegal funds, FinCEN says 39 Gavel in front of American Flag](https://forkast.news/wp-content/uploads/2023/01/binance-1260x945.jpg)
Binance among top Bitcoin receivers of Bitzlato’s illegal funds, FinCEN says
The Financial Crimes Enforcement Network (FinCEN), a bureau of the United States Department of the Treasury that combats financial crimes, has named Binance, the world’s largest cryptocurrency exchange, as one of the top three receiving counterparties of Bitzlato Ltd.
![FTX chief John Ray mulls resurrection of collapsed crypto exchange 40 FTX CEO John J. Ray III and FTX logo | FTX chief John Ray mulls resurrection of collapsed crypto exchange | ftx.com, ftx us, sam bankman-fried, genesis global capital, digital currency group](https://forkast.news/wp-content/uploads/2023/01/john-ray-ftx-1260x945.png)
FTX chief John Ray mulls resurrection of collapsed crypto exchange
FTX is exploring options to revive its bankrupt international cryptocurrency exchange, FTX.com, CEO John Ray told the Wall Street Journal.
![Cardano expresses interest in buying CoinDesk from cash-strapped Digital Currency Group 41 Cardano co-founder Charles Hoskinson and Coindesk logo | Cardano’s Hoskinson expresses interest in buying CoinDesk from cash-strapped Digital Currency Group | cardano, coindesk, dcg, digital currency group](https://forkast.news/wp-content/uploads/2023/01/Untitled-design-9-1260x709.jpg)
Cardano expresses interest in buying CoinDesk from cash-strapped Digital Currency Group
Cardano co-founder Charles Hoskinson said he is considering acquiring CoinDesk, the media arm of the struggling Digital Currency Group.
![Digital Currency Group’s crypto brokerage Genesis Global Capital files for bankruptcy 42 genesis logo | Digital Currency Group’s crypto brokerage Genesis Global Capital files for bankruptcy](https://forkast.news/wp-content/uploads/2023/01/genesis-bankrupty-1260x945.png)
Digital Currency Group’s crypto brokerage Genesis Global Capital files for bankruptcy
Crypto brokerage firm Genesis Global Capital filed for Chapter 11 bankruptcy on Thursday in the Southern District of New York.
![Stuck in stone? Why DLT transactions should be reversible 43 U-turn sign (left), Bitcoin cryptocurrency investment chart](https://forkast.news/wp-content/uploads/2023/01/2-1-1260x710.png)
Stuck in stone? Why DLT transactions should be reversible
Why insist that ‘code is law’ when the reality is riddled with human error, sloppy design and tampering? Paul Madsen of HBAR Foundation reexamines one of the central tenets of blockchain technology.
![Markets: Bitcoin bounces back above US$21,000, Cardano gains amid CoinDesk speculation 44 bitcoin and cardano tokens | Markets: Bitcoin bounces back above US$21,000; Cardano gains on CoinDesk speculation | bitcoin price, charles hoskinson, cardano, coindesk, ripple, brad garlinghouse, ether, crypto price, crypto news](https://forkast.news/wp-content/uploads/2023/01/bitcoin-cardano-1260x945.png)
Markets: Bitcoin bounces back above US$21,000, Cardano gains amid CoinDesk speculation
Bitcoin and Ether rebounded Friday morning in Asia along with all of the top 10 non-stablecoin cryptocurrencies. Cardano and Ripple led the gains.
![Universal digital payments network for stablecoins, CBDCs launches at Davos 45 Two mobile phones performing a transaction](https://forkast.news/wp-content/uploads/2020/05/mobile-payment.jpg)
Universal digital payments network for stablecoins, CBDCs launches at Davos
The Universal Digital Payments Network (UDPN), which aims to offer interoperability between regulated stablecoins and CBDCs, was launched today at the World Economic Forum in Davos.
![S. Korean city Busan to launch digital commodities exchange, shelves crypto 46 Busan's steering committee for establishing digital exchange | S. Korean city Busan to launch digital commodities exchange, shelves crypto | busan crypto binance huobi ftx gate.io crypto.com](https://forkast.news/wp-content/uploads/2023/01/busan-committee-1260x945.png)
S. Korean city Busan to launch digital commodities exchange, shelves crypto
Busan, South Korea’s second-largest city, announced Thursday that it will launch a digital commodities exchange in the second half of this year.
![Markets: Bitcoin, Ethereum extend losses 47 Bitcoin](https://forkast.news/wp-content/uploads/2023/01/bitcoin-7-1260x811.jpg)
Markets: Bitcoin, Ethereum extend losses
Bitcoin and Ethereum fell Thursday afternoon in Asia, along with all other top 10 non-stablecoin cryptocurrencies on market concerns the U.S. Federal Reserve may increase interest rates further to tackle inflation.
![National Australia Bank to launch AUDN stablecoin: report 48 Hands holding australian dollars 50 banknotes.](https://forkast.news/wp-content/uploads/2023/01/austra-1260x840.jpg)
National Australia Bank to launch AUDN stablecoin: report
National Australia Bank, one of the four major banks in the country, has created a stablecoin AUDN for cross-border transactions and carbon credit trading, according to an Australian Financial Review report.
![Former FTX U.S. CEO Sam Bankman-Fried rejects liquidators' claim of recovered assets 49 Sam Bankman-Fried. | Former FTX U.S. CEO Sam Bankman-Fried rejects liquidators' claim of recovered assets](https://forkast.news/wp-content/uploads/2023/01/bankmanfried-1260x839.jpg)
Former FTX U.S. CEO Sam Bankman-Fried rejects liquidators’ claim of recovered assets
Founder and former chief executive of FTX U.S., Sam Bankman-Fried, has rejected claims by the company’s current leadership made in a presentation on Tuesday that the team has only recovered US$181 million worth of funds from the exchange.
![Singapore-based crypto unicorn Amber Group slashes Hong Kong workforce, SCMP reports 50 Hong Kong Skyline. | Singapore-based crypto unicorn Amber Group slashes Hong Kong workforce, SCMP reports](https://forkast.news/wp-content/uploads/2023/01/HongKong-1-1260x840.jpg)
Singapore-based crypto unicorn Amber Group slashes Hong Kong workforce, SCMP reports
Singapore-based digital asset manager Amber Group has cut its Hong Kong staff by half to 40 to weather a slump in cryptocurrency prices and a cascade of bankruptcies in the industry.
![DCG’s crypto lender Genesis may file for bankruptcy, according to Bloomberg report 51 Genesis Global Capital logo in faded red background | DCG’s crypto lender Genesis may file for bankruptcy, according to Bloomberg report | digital currency group, genesis global capital, barry silbert, 3ac, ftx, coindesk](https://forkast.news/wp-content/uploads/2023/01/genesis-1260x945.png)
DCG’s crypto lender Genesis may file for bankruptcy, according to Bloomberg report
Crypto brokerage firm Genesis Global Capital is preparing to file for bankruptcy as early as this week, Bloomberg reported.
![Why crypto crashes are just like Nascar collisions 52 cracked windshield from crash with shadows of crypto coins](https://forkast.news/wp-content/uploads/2023/01/1-1-1260x710.png)
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?
![Markets: Bitcoin, Ether fall on U.S. economy worries, hawkish Fed comments on interest rates 53 Two Bitcoins sitting on top of U.S. cash. | Markets: Bitcoin, Ether fall on U.S. economy worries, hawkish Fed comments on interest rates](https://forkast.news/wp-content/uploads/2023/01/Bitcoincash-1260x840.jpg)
Markets: Bitcoin, Ether fall on U.S. economy worries, hawkish Fed comments on interest rates
Bitcoin and Ether fell Thursday morning in Asia along with most other top 10 non-stablecoin cryptocurrencies on concerns about the direction of the U.S. economy and interest rates.
![Cutting in the middlemen: How embracing real estate tokenization can boost business for property brokers 54 How embracing real estate tokenization can boost business for property brokers](https://forkast.news/wp-content/uploads/2023/01/How-embracing-real-estate-tokenization-can-boost-business-for-property-brokers-1260x709.jpg)
Cutting in the middlemen: How embracing real estate tokenization can boost business for property brokers
One of the most lauded benefits of bricks-and-mortar tokenization is less intermediary involvement in transactions. Tokenization can certainly make real estate investment cheaper and more efficient, but it’s also a potential win for property professionals.
![Coinbase asks Japan customers to withdraw holdings as it halts operations 55 Kofu City, Japan Downtown Skyline at Dusk](https://forkast.news/wp-content/uploads/2023/01/japan-downtown-1260x841.jpg)
Coinbase asks Japan customers to withdraw holdings as it halts operations
Coinbase Global Inc., the world’s second largest cryptocurrency exchange by trade volume, has asked customers in Japan to withdraw crypto and fiat holdings by Feb. 16, as it halts operations “to conduct a complete review” of its business in the country.
![Genesis, Gemini face US charges over unregistered securities sales 56 Genesis, Gemini face US charges over unregistered securities sales](https://forkast.news/wp-content/uploads/2023/01/Genesis-Gemini-face-US-charges-over-unregistered-securities-sales-1260x710.png)
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?
![CFTC commissioner calls for clearer crypto regulations 57 CFTC logo on a brick wall](https://forkast.news/wp-content/uploads/2020/07/cftc-chairman-ethereum-futures-gID_1.jpg)
CFTC commissioner calls for clearer crypto regulations
Caroline Pham, commissioner of the U.S. Commodity Futures Trading Commission (CFTC) commissioner, has urged regulators to develop clearer crypto industry standards.
![Markets: Bitcoin, Ether rise further; Dogecoin leads gains in top 10 cryptos 58 Bitcoin coins on keyboard computer with trading exchange graph](https://forkast.news/wp-content/uploads/2023/01/bitcoin-4-1260x840.jpg)
Markets: Bitcoin, Ether rise further; Dogecoin leads gains in top 10 cryptos
Bitcoin and Ethereum gained in Wednesday afternoon trading in Asia, while price movements of top 10 non-stablecoin cryptocurrencies were mixed, with Dogecoin leading gains.
![Silvergate reports US$1 billion loss, attributes to “crisis of confidence” in crypto sector 59 Bitcoin in front of graphs. | Silvergate reports US$1 billion loss, attributes to “crisis of confidence” in crypto sector.](https://forkast.news/wp-content/uploads/2023/01/Bitcoin3-1260x840.jpg)
Silvergate reports US$1 billion loss, attributes to “crisis of confidence” in crypto sector
U.S.-based cryptocurrency bank Silvergate Capital Corp., which saw clients withdraw more than US$8 billion late last year, on Tuesday reported a US$1 billion loss for the fourth quarter of 2022, a slump it attributed to a “crisis of confidence” in the sector resulting from several large bankruptcies.
![FTX says US$415 mln in crypto hacked since bankruptcy filing 60 Image of hacker on laptop, FTX mobile app showing notice of withdrawal halt | FTX says US$415 mln in crypto was hacked since bankruptcy filing | ftx hack, binance, sam bankman-fried](https://forkast.news/wp-content/uploads/2023/01/Untitled-design-8-1260x709.jpg)
FTX says US$415 mln in crypto hacked since bankruptcy filing
Bankrupt crypto exchange FTX told creditors that it lost around US$415 million worth of cryptocurrencies to hacks since it filed for bankruptcy.
![Markets: Bitcoin, Ether prices little changed; Polkadot gains as Solana gives up ground 61 Two Bitoins sitting on a grey background. | Markets: Bitcoin, Ether prices little changed; Polkadot gains as Polygon, Solana give up ground](https://forkast.news/wp-content/uploads/2023/01/bitcoin44-1260x840.jpg)
Markets: Bitcoin, Ether prices little changed; Polkadot gains as Solana gives up ground
Bitcoin and Ether were little changed in a muted morning of trading on Wednesday in Asia, as few top 10 non-stablecoin cryptocurrencies moved by more than 1% in either direction.
![IPFS to demonstrate long distance communications in space aboard LM 400 spacecraft 62 IPFS to demonstrate long distance communications in space aboard LM 400 spacecraft](https://forkast.news/wp-content/uploads/2023/01/IPFS-to-demonstrate-long-distance-communications-in-space-aboard-LM-400-spacecraft-1260x840.jpg)
IPFS to demonstrate long distance communications in space aboard LM 400 spacecraft
IPFS will be heading to space this year to reduce latency between nodes communicating in orbit for blockchain applications, Marta Belcher of the Filecoin Foundation told Forkast.
![China NFT platforms expand into Hong Kong in face of compliance risks on mainland 63 China flag, Digital collectible (right) on ShucangCN app](https://forkast.news/wp-content/uploads/2023/01/Timmy2-1-1-1260x709.jpg)
China NFT platforms expand into Hong Kong in face of compliance risks on mainland
Hong Kong’s new digital asset-friendly policies could set the city up as the home for secondary NFT marketplaces from China as trading of ‘digital collectibles’ remains a gray area on the mainland.
![Thailand’s SEC issues new regulations for crypto custody services 64 Image of Bankgog](https://forkast.news/wp-content/uploads/2022/09/bangkok-1260x665.jpg)
Thailand’s SEC issues new regulations for crypto custody services
The Securities and Exchange Commission
of Thailand issued new rules for cryptocurrency custody services on Tuesday.
![Singapore court extends crypto lender Vauld’s creditor protection to Feb. 28 65 Creditors take hostile action as crypto firm Vauld seeks bankruptcy protection](https://forkast.news/wp-content/uploads/2022/07/vauld-1-1260x709.jpg)
Singapore court extends crypto lender Vauld’s creditor protection to Feb. 28
The Singapore High Court has extended the creditor protection period for crypto lender Vauld to Feb. 28, as the firm has yet to come up with a revival plan
![Markets: Bitcoin inches up, Ether slips; China posts 3% GDP growth for 2022 66 Bitcoin and China flag | Markets: Bitcoin inches up, Ether slips; China posts 3% GDP growth for 2022 | bitcoin price, bitcoin news, ether price, ether news, crypto price](https://forkast.news/wp-content/uploads/2023/01/Untitled-design-7-1260x709.jpg)
Markets: Bitcoin inches up, Ether slips; China posts 3% GDP growth for 2022
Bitcoin inched up and Ether slipped in Tuesday afternoon trading in Asia, with most other top 10 cryptocurrencies trading lower on the day.
![CryptoSlam, Forkast.News merge to form Web3 data intelligence platform 67 hand shake](https://forkast.news/wp-content/uploads/2022/10/merger-1260x840.jpg)
CryptoSlam, Forkast.News merge to form Web3 data intelligence platform
Web3 media company Forkast.News and blockchain data analytics firm CryptoSlam are merging to establish Forkast Labs, a media intelligence platform for the digital economy that will combine on-chain data analytics and journalism.
![South Korea launches online metaverse replica of capital city Seoul to improve public services 68 metaverse seoul and avatars exploring the platform | South Korea launches online metaverse replica of capital city Seoul to improve public services | south korea metaverse web3](https://forkast.news/wp-content/uploads/2023/01/meta-seoul-1260x945.png)
South Korea launches online metaverse replica of capital city Seoul to improve public services
S. Korea’s capital city opened the first stage of ‘Metaverse Seoul’ on Monday, which it claims is the first city-backed public metaverse in the world.
![Crypto’s data problem: Rebuilding trust in a trustless environment 69 Crypto’s data problem rebuilding trust in a trustless environment](https://forkast.news/wp-content/uploads/2023/01/Cryptos-data-problem-rebuilding-trust-in-a-trustless-environment-2-1260x841.jpg)
Crypto’s data problem: Rebuilding trust in a trustless environment
Price is the wrong measure of Web3’s true value, writes Angie Lau, editor-in-chief of Forkast. To recover from Crypto Winter, we need metrics that are less prone to whims and manipulation.
![China’s digital yuan used in securities trade for the first time 70 E-CNY logo in front of a trading screen | China’s digital yuan used to buy securities for the first time | China, e-CNY, Digital Yuan, PBOC - People's Bank of China](https://forkast.news/wp-content/uploads/2023/01/featured-image-01_副本-1260x840.jpg)
China’s digital yuan used in securities trade for the first time
See related article: China digital currency transaction volume soars to nearly US$14B Soochow Securities, a Chinese securities firm, enabled e-CNY payments on its mobile application on Monday, marking the first use case of the central bank digital currency in securities market trade, according to state-backed finance outlet China Securities Journal. Fast facts See related article: […]
![S. Korean court says NFT game items are speculative, adds on to P2E ban 71 SkyPeople's Five Stars for Klaytn | S. Korean court says NFT game items are speculative, refines to P2E ban | south korea p2e ban skypeople nft blockchain gaming](https://forkast.news/wp-content/uploads/2023/01/five-stars-1260x945.png)
S. Korean court says NFT game items are speculative, adds on to P2E ban
A South Korean court ruled against the release of a blockchain P2E game last Friday after determining that in-game NFTs promote speculation.
![North Korean hackers move 41,000 ETH stolen from Harmony Bridge attack 72 cross-chain bridges. | North Korean hackers move 41,000 ETH stolen from Harmony Bridge attack](https://forkast.news/wp-content/uploads/2023/01/bridges-1260x755.jpg)
North Korean hackers move 41,000 ETH stolen from Harmony Bridge attack
The Lazarus Group, a North Korean cybercrime organization, has transferred 41,000 Ether (US$63.9 million) stolen from the 2022 Harmony bridge hack onto cryptocurrency exchanges Binance, OKX and Huobi, according to blockchain data shared by Twitter sleuth ZachXBT.