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![What the FTX collapse means for the future of crypto 1 Forkast Opinion Images 7](https://forkast.news/wp-content/uploads/2022/12/Forkast-Opinion-Images-7-1260x710.png)
What the FTX collapse means for the future of crypto
Centralized exchanges releasing ‘proof of reserves’ is not enough to win back users, while improving user experience will be key, writes Holger Arians of Banxa.
![Sam Bankman-Fried extradition in doubt after confused court hearing in Bahamas 2 WASHINGTON, DC - DECEMBER 08: CEO of FTX Sam Bankman-Fried testifies during a hearing before the House Financial Services Committee at Rayburn House Office Building on Capitol Hill December 8, 2021 in Washington, DC. The committee held a hearing on "Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States." (Photo by Alex Wong/Getty Images)](https://forkast.news/wp-content/uploads/2022/12/GettyImages-1357912812-1-1260x709.jpg)
Sam Bankman-Fried extradition in doubt after confused court hearing in Bahamas
FTX founder Sam Bankman-Fried appeared in court in the Bahamas, but did not agree to be extradited to the U.S.
![Markets: Bitcoin, Ether fall; Dogecoin drops after poll says Musk should quit as Twitter boss 3 Pile of Bitcoins sitting on a black desk. | Markets: Bitcoin, Ether fall; Dogecoin drops after poll says Musk should quit as Twitter boss](https://forkast.news/wp-content/uploads/2022/12/Bitcoin7-1260x840.jpg)
Markets: Bitcoin, Ether fall; Dogecoin drops after poll says Musk should quit as Twitter boss
Bitcoin and Ether prices fell in Tuesday morning trading in Asia as concern about the stability of crypto exchanges and a possible global recession continued to weigh on markets.
![Binance acquires Indonesian crypto exchange Tokocrypto 4 tokocrypto e1671456509811](https://forkast.news/wp-content/uploads/2022/12/tokocrypto-e1671456509811-1260x659.png)
Binance acquires Indonesian crypto exchange Tokocrypto
Binance, the world’s largest cryptocurrency exchange, has acquired Indonesia-based crypto exchange Tokocrypto, according to a CNBC report
![India’s CoinDCX publishes full proof of reserves 5 coindcx](https://forkast.news/wp-content/uploads/2022/12/coindcx-1260x840.jpg)
India’s CoinDCX publishes full proof of reserves
Cryptocurrency exchange CoinDCX, India’s first crypto unicorn, published its complete proof of reserves (PoR) on Monday detailing its USDT liabilities and reserves.
![Markets: Bitcoin, Ether dip; XRP leads declines across top 10 cryptos 6 Golden BTC Bitcoin and XRP Ripple Coins](https://forkast.news/wp-content/uploads/2022/09/xrp.jpg)
Markets: Bitcoin, Ether dip; XRP leads declines across top 10 cryptos
Bitcoin and Ether fell in Asian trading on Monday afternoon, with XRP leading declines across the top 10 non-stablecoin cryptocurrencies
![How Web3 can make travel less stressful for future holidays 7 some famous landmarks and travel destinations around the world with a Web 3.0 ahead road warning sign](https://forkast.news/wp-content/uploads/2022/11/Forkast-Opinion-Images-15-1260x710.png)
How Web3 can make travel less stressful for future holidays
The travel sector has many pain points and is ripe for disruption, writes Freddie Hickman of Hyper SQ. Here’s what blockchain can do, from tracking baggage to letting you resell your no-longer-wanted air ticket.
![Web 3.0 firms must ‘keep costs low,’ improve efficiency to navigate downturns, says Rotten Tomatoes cofounder 8 Patrick Lee](https://forkast.news/wp-content/uploads/2022/12/patrick-lee-1260x709.jpg)
Web 3.0 firms must ‘keep costs low,’ improve efficiency to navigate downturns, says Rotten Tomatoes cofounder
Patrick Lee, who cofounded Rotten Tomatoes and PKO Investments, says the US$35 million investment company has slowed Web 3.0 investments significantly.
![South Korea’s ‘metaverse’ province says will use virtual platform to expand ties with Vietnam 9 South Korea's Gyeongbok palance and Vietnam flag | South Korea’s ‘metaverse’ province says will use virtual platform to expand ties with Vietnam | south korea, metaverse, vietnam, metaverse news](https://forkast.news/wp-content/uploads/2022/12/Untitled-design-1-1260x709.jpg)
South Korea’s ‘metaverse’ province says will use virtual platform to expand ties with Vietnam
South Korea’s Gyeongbuk Province plans to use the metaverse to expand economic and other relations with Vietnam.
![Ripple CEO’s attorney to resign as counsel on XRP lawsuit against SEC 10 Ripple Vs SEC Images](https://forkast.news/wp-content/uploads/2022/12/Ripple-Vs-SEC-Images-1260x709.jpg)
Ripple CEO’s attorney to resign as counsel on XRP lawsuit against SEC
Ripple CEO Bradley Garlinghouse’s attorney has applied to withdraw as his counsel in Ripple’s ongoing lawsuit against the SEC.
![Markets: Bitcoin, Ether little changed after weekend slump; Binance BNB token regains some ground 11 Mazars, BNB and bitcoin | Markets: Bitcoin, Ether little changed after weekend slump; Binance BNB token gains back some ground | bitcoin price today, crypto market, crypto prices, ether, bnb](https://forkast.news/wp-content/uploads/2022/12/markets-monday-1260x945.png)
Markets: Bitcoin, Ether little changed after weekend slump; Binance BNB token regains some ground
Bitcoin and Ether were little changed on Monday after a weekend slump amid worries about a global recession and the stability of crypto exchanges.
![Binance’s proof-of-reserves auditor suspends work for crypto firms 12 Binance logo with stacked golen coins in the background](https://forkast.news/wp-content/uploads/2022/11/Binance-1-1260x709.png)
Binance’s proof-of-reserves auditor suspends work for crypto firms
Mazars, the financial auditing firm behind Binance’s proof-of-reserves (PoR) audit, has suspended all work for crypto firms.
![Venture capital firms slow Web 3.0 investments as investors turn cautious 13 Akio Tanaka (left), cofounder and partner of Infinity Ventures Crypto; Patrick Lee, cofounder and managing partner of PKO Investments. Images: Tanaka's and Lee's LinkedIn pages](https://forkast.news/wp-content/uploads/2022/12/vc-1260x709.jpg)
Venture capital firms slow Web 3.0 investments as investors turn cautious
Several venture funds tell Forkast they have become conservative and are only investing in ‘true believers’ of Web 3.0
![Markets: Bitcoin, Ether weaken; Litecoin leads declines across top 10 cryptos 14 Dogecoin, litecoin, etheteum and bitcoin, Markets: Dogecoin reenters top 10 tokens by market cap, Bitcoin and Ethereum up](https://forkast.news/wp-content/uploads/2022/09/dogecoin-litecoin-etheteum-and-bitcoin-2021-08-26-16-24-28-utc-1260x709.jpg)
Markets: Bitcoin, Ether weaken; Litecoin leads declines across top 10 cryptos
Bitcoin and Ether fell in Asian trading on Friday afternoon, with Litecoin leading declines across the top 10 non-stablecoin cryptos
![FTX seeks permission to sell Japan, Europe entities and LedgerX 15 FTX logo, with a frozen mountain in the background](https://forkast.news/wp-content/uploads/2022/11/FTX-Freeze-1260x709.png)
FTX seeks permission to sell Japan, Europe entities and LedgerX
Attorneys representing FTX are requesting permission from the U.S. bankruptcy court to sell four of the company’s branches: FTX Japan, FTX Europe, Embed, and LedgerX.
![Safe as houses? How tokenizing real estate offers a new approach to bricks-and-mortar investment 16 Safe as houses How tokenizing real estate offers a new approach to bricks-and-mortar investment](https://forkast.news/wp-content/uploads/2022/12/Safe-as-houses-How-tokenizing-real-estate-offers-a-new-approach-to-bricks-and-mortar-investment-1260x709.png)
Safe as houses? How tokenizing real estate offers a new approach to bricks-and-mortar investment
Putting property on-chain is a novel way of opening up opportunities for investors and landlords alike. The second article in Forkast’s three-part series on real estate tokenization explores what they stand to gain.
![Hong Kong’s SFC appoints new chief who calls for stronger crypto regulation 17 Hong Kong begins public consultation on crypto licensing regime](https://forkast.news/wp-content/uploads/2022/10/微信截图_20221031115228-1260x715.png)
Hong Kong’s SFC appoints new chief who calls for stronger crypto regulation
Julia Leung, the next chief executive of Hong Kong’s Securities and Futures Commission (SFC) due to start her three-year term on Jan. 1, called for stricter crypto regulation when speaking at the city’s Fintech Week last month.
![US lawyers, Bahamas liquidators trade barbs over who rules FTX bankruptcy jurisdiction 18 Sam Bankman-Fried, former chief of FTX. Image: FTX](https://forkast.news/wp-content/uploads/2022/12/sbf-4-1260x697.jpg)
US lawyers, Bahamas liquidators trade barbs over who rules FTX bankruptcy jurisdiction
Sam Bankman-Fried has reportedly made a second application for bail in the Bahamas – this as lawyers feud over control of the FTX bankruptcy, raising concern the sour grapes may seep into efforts to have Bankman-Fried extradited to face fraud charges in the U.S.
![Hong Kong Stock Exchange debuts ‘Asia’s first’ crypto futures ETFs 19 hong kong skyline](https://forkast.news/wp-content/uploads/2022/12/hong-kong-1260x837.jpg)
Hong Kong Stock Exchange debuts ‘Asia’s first’ crypto futures ETFs
Hong Kong launched two exchange-traded funds (ETFs) tracking cryptocurrency futures on Friday, the first of their kind in Asia, the local exchange said.
![Japan plans to ease corporate tax rates for cryptocurrency issuers 20 Japan's Liberal Democratic Party logo, Tokyo skyline | Japan’s ruling party plans to ease corporate tax rates for cryptocurrency issuers | japan, japan crypto tax, japan corporate crypto tax, fumio kishida](https://forkast.news/wp-content/uploads/2022/12/japan-ldp-1260x945.png)
Japan plans to ease corporate tax rates for cryptocurrency issuers
Japan’s ruling party approved a proposal that exempts companies issuing crypto from taxes on unrealized gains on retained tokens.
![Markets: Bitcoin, Ether fall with equities as concerns about recession knock Wall Street lower 21 bitcoin crypto currency diagram | Markets: Bitcoin, Ether fall with equities as concerns about recession knock Wall Street lower | crypto price today, bitcoin price, ether price](https://forkast.news/wp-content/uploads/2022/12/bitcoin-crypto-currency-diagram-2022-07-07-16-02-20-utc-1260x840.jpg)
Markets: Bitcoin, Ether fall with equities as concerns about recession knock Wall Street lower
Bitcoin and Ether prices fell Friday morning in Asia, along with most of the top 10 non-stablecoin crypto, as U.S. stocks had their biggest declines in weeks.
![Animoca founder says Asia is ‘moving on’ from FTX fiasco 22 Yat Siu, cofounder and chairman of Animoca Brands.](https://forkast.news/wp-content/uploads/2022/12/yat-1260x705.jpg)
Animoca founder says Asia is ‘moving on’ from FTX fiasco
Asia’s cryptocurrency community is “on the path of moving on” from the FTX fiasco, following the arrest of FTX founder Sam Bankman-Fried, said Yat Siu, cofounder and chairman of Hong Kong-based blockchain gaming studio and venture capital firm Animoca Brands.
![Markets: Bitcoin, Ether fall; Solana rises as top 10 cryptos retreat 23 Sellers of Solana NFTs outpace buyers in May, Solana logo over charts](https://forkast.news/wp-content/uploads/2022/05/Solana-1-1260x841.png)
Markets: Bitcoin, Ether fall; Solana rises as top 10 cryptos retreat
Bitcoin and Ether weakened in Asian trading on Thursday afternoon, with Solana rising amid drops across other top 10 non-stablecoin cryptocurrencies
![Binance “deliberately” caused FTX collapse, Kevin O’Leary claims 24 Kevin O’Leary, chairman of venture capital firm O’Leary Ventures and star of TV’s Shark Tank. | Binance “deliberately” caused FTX collapse, Kevin O’Leary claims](https://forkast.news/wp-content/uploads/2022/12/oleary2.png)
Binance “deliberately” caused FTX collapse, Kevin O’Leary claims
Kevin O’Leary Kevin O’Leary, chairman of venture capital firm O’Leary Ventures and star of TV’s Shark Tank, said in a congressional hearing on Wednesday that Binance Global Inc.’s chief executive and founder Changpeng Zhao deliberately caused the collapse of Bahamas-based cryptocurrency exchange FTX.com.
![FTX Bahamas Co-CEO warned authorities on Nov. 9 of illegal customer asset transfers, documents show 25 FTX Logo, with two people talking face to face in the background](https://forkast.news/wp-content/uploads/2022/11/ftx-1-1260x945.png)
FTX Bahamas Co-CEO warned authorities on Nov. 9 of illegal customer asset transfers, documents show
Ryan Salame, the former co-CEO of FTX’s Bahamian entity tipped off the Securities Commission of the Bahamas about FTX violating its internal procedures in transferring customer funds to Alameda Research.
![Japan ruling party lawmaker calls for regulatory clarity after FTX debacle 26 tokyo lawmaker akihisa shiozaki and tokyo tower | ftx japan, japan crypto regulation, ftt](https://forkast.news/wp-content/uploads/2022/12/Untitled-design-1260x709.jpg)
Japan ruling party lawmaker calls for regulatory clarity after FTX debacle
A Japanese lawmaker called for more transparent regulations following the FTX meltdown, where investors were not warned of the risks with FTX Token.
![MetaMask partners with PayPal for Ethereum purchases through wallet 27 A person walking by the PayPal logo. | MetaMask partners with PayPal for Ethereum purchases through wallet](https://forkast.news/wp-content/uploads/2022/12/paypal-1260x861.jpg)
MetaMask partners with PayPal for Ethereum purchases through wallet
ConsenSys Inc., the company behind leading crypto wallet MetaMask, announced on Thursday a new partnership with PayPal Holdings Inc.
![Could NFTs have prevented Taylor Swift’s concert tickets debacle? 28 shady man scalping a pair of concert tickets](https://forkast.news/wp-content/uploads/2022/12/Forkast-Opinion-Images-3-1260x710.png)
Could NFTs have prevented Taylor Swift’s concert tickets debacle?
The trillion-dollar concert ticketing sector is plagued by scalping and other Web2-era problems, writes Ryan Kenny of SeatlabNFT. Here’s how blockchain can help fans and artists.
![US Senator Elizabeth Warren submits crypto know-your-customer bill in wake of FTX collapse 29 Senator Elizabeth Warren at the Senate Committee on Banking, Housing, and Urban Affairs in Washington DC, on Dec. 14, 2022](https://forkast.news/wp-content/uploads/2022/12/Screenshot-2022-12-14-204239-2-1260x632.png)
US Senator Elizabeth Warren submits crypto know-your-customer bill in wake of FTX collapse
As U.S. prosecutors line up charges against Sam Bankman-Fried, the founder of the collapsed FTX cryptocurrency exchange, Senator Elizabeth Warren is seeking to pass bipartisan regulation to rein in the “dark underbelly” of the crypto industry.
![FTX collapse not the worst for crypto investors this year, says Chainalysis study 30 Stressed young woman open her empty wallet and calculating expenses at home](https://forkast.news/wp-content/uploads/2022/12/stressed-young-woman-open-her-empty-wallet-and-cal-2021-10-06-09-52-16-utc-1260x709.jpg)
FTX collapse not the worst for crypto investors this year, says Chainalysis study
The bankruptcy of cryptocurrency exchange FTX doesn’t represent the biggest losses for crypto investors in 2022, according to a report from Chainalysis.
![Markets: Bitcoin rebounds then retraces amid hawkish Fed comments, Solana gains 31 Bitcoins and U.S. cash sitting on a table. | Markets: Bitcoin rebounds then retraces amid hawkish Fed comments, Solana gains](https://forkast.news/wp-content/uploads/2022/12/BitcoinMoney2-1-1260x840.jpg)
Markets: Bitcoin rebounds then retraces amid hawkish Fed comments, Solana gains
Bitcoin held onto gains in Thursday morning trading in Asia, though had pulled back from an earlier spike above US$18,000 as the U.S. Federal Reserve raised interest rates in line with expectations.
![South Korean official says no confirmation Binance pulling out of Busan city crypto exchange project 32 Haeundae in Busan | S. Korean city official refutes reports of Binance, FTX pulling out of Busan’s crypto exchange project | binance news, cz binance, changpeng zhao](https://forkast.news/wp-content/uploads/2022/12/haeundae-in-busan-2021-08-29-06-53-46-utc-1260x828.jpg)
South Korean official says no confirmation Binance pulling out of Busan city crypto exchange project
An official in the South Korean city of Busan said the authorities have received no confirmation that Binance has pulled out of a partnership to establish the country’s first city-backed crypto exchange, as reported by local media.
![Sam Bankman-Fried in Bahamas police custody, faces criminal charges in U.S. 33 Sam Bankman-Fried in custody, faces criminal charges in US](https://forkast.news/wp-content/uploads/2022/12/Sam-Bankman-Fried-in-custody-faces-criminal-charges-in-US-1260x710.png)
Sam Bankman-Fried in Bahamas police custody, faces criminal charges in U.S.
Top blockchain and crypto news: SBF denied bail, US extradition likely next. The Block chief quits over secret FTX loans. Hong Kong readies digital asset rules.
![Markets: Bitcoin, Ether strengthen; Solana leads gains in most top 10 cryptos 34 Sellers of Solana NFTs outpace buyers in May, Solana logo over charts](https://forkast.news/wp-content/uploads/2022/05/Solana-1-1260x841.png)
Markets: Bitcoin, Ether strengthen; Solana leads gains in most top 10 cryptos
Bitcoin and Ether increased in Asian trading on Wednesday afternoon, with Solana leading gains across most top 10 non-stablecoin cryptocurrencies
![Terra fugitive Do Kwon has registered address in Serbia: S. Korean local media 35 do kwon in serbia | Terra fugitive Do Kwon has registered address in Serbia: S. Korean local media | do kwon news, do kwon serbia](https://forkast.news/wp-content/uploads/2022/12/kwon-in-serbia-1260x945.png)
Terra fugitive Do Kwon has registered address in Serbia: S. Korean local media
Interpol fugitive and chief of Terraform Labs Pte. Ltd. Kwon Do-hyung has registered his residential address in the Republic of Serbia.
![FTX an ‘old-fashioned embezzlement' says new CEO as US authorities charge Bankman-Fried with fraud 36 John J. Ray III, Chief Executive Officer, FTX Group, at the Investigating the Collapse of FTX, Part I congressional hearing in Washington, DC, on Dec. 13.](https://forkast.news/wp-content/uploads/2022/12/John-Ray.png)
FTX an ‘old-fashioned embezzlement’ says new CEO as US authorities charge Bankman-Fried with fraud
Members of a U.S. Congressional hearing expressed frustration about the timing of Bankman-Fried’s arrest, saying they wanted him to testify under oath so the public could get the answers they are seeking about the collapse of FTX.
![Wemade appeals against the court ruling in favor of WEMIX delisting 37 wemix graphic | Wemade appeals against court’s ruling in favor of WEMIX delisting | wemix delisting, wemade news, wemix price, wemix news](https://forkast.news/wp-content/uploads/2022/12/wemix-1-1260x945.png)
Wemade appeals against the court ruling in favor of WEMIX delisting
Wemade Co. filed an immediate appeal against the court’s Dec. 7 decision that rejected the developer’s request to disallow four of the nation’s largest crypto exchanges from delisting its native cryptocurrency, WEMIX.
![Markets: Bitcoin, Ether prices rise as November U.S. inflation reading lower than expected 38 shopping cart with us dollar bills inside, golden bitcoin token | Markets: Bitcoin, Ether prices rise as November U.S. inflation reading lower than expected | bitcoin price today, ether price, crypto market today, us cpi, fed interest rate](https://forkast.news/wp-content/uploads/2022/12/cpi-markets-1260x945.png)
Markets: Bitcoin, Ether prices rise as November U.S. inflation reading lower than expected
Bitcoin and Ether both rose more than 3% in Wednesday morning in Asia, as the U.S. consumer price index came in lower than expected.
Binance resumes USDC withdrawals amid record stablecoin outflows
Binance, the world’s largest cryptocurrency exchange, announced at 12:54 a.m. on Wednesday in Hong Kong that USDC stablecoin withdrawals have resumed.
![Crypto savings, staking products not protected in Hong Kong, finance regulator says 39 hong kong 2021 08 26 18 13 04 utc](https://forkast.news/wp-content/uploads/2022/12/hong-kong-2021-08-26-18-13-04-utc-1260x841.jpg)
Crypto savings, staking products not protected in Hong Kong, finance regulator says
The Hong Kong SFC said that virtual asset investments offering high-interest returns on cryptocurrency deposits and those that guarantee additional assets at fixed rates are unregulated products that are not protected by law.
![Bitcoin up 5% as U.S. inflation cools in November 40 food US dollar](https://forkast.news/wp-content/uploads/2022/12/cpi-1260x840.jpg)
Bitcoin up 5% as U.S. inflation cools in November
Bitcoin jumped more than 5% on Tuesday evening Hong Kong time, after the U.S. Bureau of Labor Statistics said that the consumer price index (CPI), a key inflation indicator, was up 7.1% in November from a year earlier, less than the expected 7.3%, and down from 7.7% in October. The CPI rose 0.1% in November from October.
![Binance 'temporarily' freezes USDC stablecoin withdrawals, cites need for NY banks to reopen 41 USDC withdraws paused on Binance](https://forkast.news/wp-content/uploads/2022/12/Picture3-2.png)
Binance ‘temporarily’ freezes USDC stablecoin withdrawals, cites need for NY banks to reopen
The Binance cryptocurrency exchange “temporarily paused” USDC stablecoin withdrawals while it carried out a “token swap,” the company announced Tuesday.
![SEC charges FTX founder Sam Bankman-Fried with defrauding investors 42 SEC - NEW YORK, NEW YORK - JUNE 23: Sam Bankman-Fried speaks onstage during the first annual Moonlight Gala benefitting CARE - Children With Special Needs - hosted by Michael Cayre, Roy Nachum and MegaMoon Museum at Casa Cipriani on June 23, 2022 in New York City. (Photo by Craig Barritt/Getty Images for CARE For Special Children )](https://forkast.news/wp-content/uploads/2022/12/SBF-SEC-2-1260x708.png)
SEC charges FTX founder Sam Bankman-Fried with defrauding investors
FTX’s Sam Bankman-Fried has been charged by the U.S. SEC for orchestrating a years-long fraud on investors, the agency announced on Tuesday.
![Markets: Bitcoin, Ether rise; BNB is biggest loser in top 10 cryptos 43 binance](https://forkast.news/wp-content/uploads/2022/08/binance-1.jpg)
Markets: Bitcoin, Ether rise; BNB is biggest loser in top 10 cryptos
Bitcoin and Ether rallied in Asian trading on Tuesday afternoon. BNB was the biggest loser across the top 10 non-stablecoin cryptocurrencies
![Crypto market implosions, bankruptcies bring sweeping job losses ... and opportunity 44 People lined up at a job fair. | Crypto market implosions, bankruptcies bring sweeping job losses … and opportunity.](https://forkast.news/wp-content/uploads/2022/12/jobfair-1260x840.jpg)
Crypto market implosions, bankruptcies bring sweeping job losses … and opportunity
By some estimates, job cuts in the cryptocurrency-specific industry are running at about 30-40%, which means tough times for employers and employees, and compensation packages are also taking a hit.
![New FTX CEO says he found 'utter failure of corporate controls' at the exchange 45 John J. Ray III and Sam Bankman-Fried](https://forkast.news/wp-content/uploads/2022/12/John-J.-Ray-III-and-Sam-Bankman-Fried-1260x709.png)
New FTX CEO says he found ‘utter failure of corporate controls’ at the exchange
John J. Ray III, the new CEO of FTX.com, said the company’s failure was caused by the “concentration of control in a very small group of grossly inexperienced and unsophisticated individuals.”
![Sam Bankman-Fried arrested in Bahamas -- could other FTX executives be next? 46 House Financial Services Committee Examines Digital Assets, Sam Bankman-Fried | Sam Bankman-Fried arrested in Bahamas; what comes next for the former billionaire? | sam bankman fried arrested, sam bankman fried news, sbf news, ftx bahamas, ftx investigation](https://forkast.news/wp-content/uploads/2022/12/grumpy-looking-sbf-getty-1260x840.jpg)
Sam Bankman-Fried arrested in Bahamas — could other FTX executives be next?
The fall from grace: Once one of the most admired figures in crypto, the former head of the FTX exchange is unlikely to see his Bahamas penthouse anytime soon after being arrested Monday on U.S. charges that are expected to lead to his extradition.
![Why local currency stablecoins are needed in non-US countries 47 several cryptocurrency coins](https://forkast.news/wp-content/uploads/2022/11/2-1-1260x710.png)
Why local currency stablecoins are needed in non-US countries
Stablecoins in USD are becoming the digital world’s default currency — which burdens ordinary crypto users and monetary policies in smaller nations, writes Wei Zhou of Coins.ph.
![Markets: Bitcoin, Ether rise in mixed trading; U.S. equities gain ahead of inflation data 48 Stacks on Bitcoin on a black background. | Markets: Bitcoin, Ether rise in mixed trading; U.S. equities gain ahead of inflation data](https://forkast.news/wp-content/uploads/2022/12/bitcoinnew-1260x840.jpg)
Markets: Bitcoin, Ether rise in mixed trading; U.S. equities gain ahead of inflation data
Bitcoin and Ether rose in Tuesday morning trading in Asia, with other top 10 non-stablecoin cryptocurrencies putting in a mixed performance.
![Sam Bankman-Fried arrested in the Bahamas, expected to be extradited to U.S. 49 Sam Bankman Fried | Sam Bankman-Fried arrested in the Bahamas, expected to be extradited to U.S. | FTX news, Sam bankman fried arrested, ftx bahamas](https://forkast.news/wp-content/uploads/2022/12/sam-bankman-fried-2-1260x839.jpg)
Sam Bankman-Fried arrested in the Bahamas, expected to be extradited to U.S.
Sam Bankman Fried, founder and former CEO of FTX exchange, was arrested and taken into custody by the Royal Bahamas Police on Monday.
U.S. Justice Department mulls charging Binance over potential money laundering violations: report
Prosecutors at the U.S. Department of Justice (DOJ) are reportedly split on filing charges against Binance and its executives on possible money laundering and sanctions violations, as part of a long-running criminal investigation.
![KuCoin’s BTC, ETH reserves overcollateralized, says auditor Mazars 50 Logos of KuCoin and Mazars](https://forkast.news/wp-content/uploads/2022/12/KuCoin-1260x718.jpg)
KuCoin’s BTC, ETH reserves overcollateralized, says auditor Mazars
KuCoin, a Seychelles-based cryptocurrency exchange, on Monday released its proof of reserves report issued by third-party auditor Mazars, which concluded that the exchange’s reserves of Bitcoin, Ether, USDT and USDC are overcollateralized.
![Markets: Bitcoin, Ether fall; Dogecoin leads retreat in top 10 cryptos 51 Golden dogecoin coin. Cryptocurrency dogecoin. Doge cryptocurrency. | Markets: Bitcoin, Ether prices fall; Dogecoin, Shiba Inu bull run continues; BNB gains | bitcoin, eth, dogecoin, shiba inu, bnb, xrp](https://forkast.news/wp-content/uploads/2022/11/golden-dogecoin-coin-cryptocurrency-dogecoin-dog-2021-09-03-01-30-09-utc-1260x840.jpg)
Markets: Bitcoin, Ether fall; Dogecoin leads retreat in top 10 cryptos
Bitcoin and Ether weakened in Asian trading on Monday afternoon, with Dogecoin leading the decline across top 10 non-stablecoin cryptocurrencies
![Coniferous crypto: What the industry must do to survive this winter 52 yellow crossing sign with words "crypto winter" and crypto coins](https://forkast.news/wp-content/uploads/2022/11/Forkast-Opinion-Images-2-1260x710.png)
Coniferous crypto: What the industry must do to survive this winter
Crypto is weathering this year’s extreme turbulence so far. But its long-term health will require the sector’s urgent attention to regulation, education and security, writes Oliver Linch, CEO of Bittrex Global.
![Hong Kong mulls regulatory requirements for local licensed crypto exchanges: report 53 How tokenization could transform Hong Kong’s fixed income markets](https://forkast.news/wp-content/uploads/2022/05/How-tokenization-could-transform-Hong-Kongs-fixed-income-markets.png)
Hong Kong mulls regulatory requirements for local licensed crypto exchanges: report
The Hong Kong Securities and Futures Commission (SFC) is drafting regulatory requirements for the local licensed crypto exchanges, in light of the FTX debacle, according to a report on Monday by Hong Kong public broadcaster RTHK
![S.Korea discusses control over crypto listings after WEMIX delisting 54 Seoul skyline in the night, South Korea.](https://forkast.news/wp-content/uploads/2022/12/seoul-skyline-in-the-night-south-korea-2022-02-02-05-07-02-utc-1-1260x840.jpg)
S.Korea discusses control over crypto listings after WEMIX delisting
S.Korean authorities may mandate companies to pursue direct approval from regulators to list their crypto on local digital assets exchanges.
![The Block CEO resigns after reports of undisclosed loans from Alameda Research 55 The Block CEO resigns after reports of undisclosed loans from Alameda Research](https://forkast.news/wp-content/uploads/2022/12/SBF-The-Block-CEO-1260x709.png)
The Block CEO resigns after reports of undisclosed loans from Alameda Research
Michael McCaffrey, the CEO of crypto news outlet The Block, resigned after reports revealed that he received undisclosed multi-million dollar loans from Alameda Research.
![Terra cryptocurrency fugitive Do Kwon flew to Serbia last month, South Korean prosecutor says 56 do kwon and serbia flag waving | Terra cryptocurrency fugitive Do Kwon flew to Serbia last month, South Korean prosecutor says | do kwon latest news, daniel shin, terraform labs, terra luna, south korea do kwon](https://forkast.news/wp-content/uploads/2022/12/do-kwon-serbia-1260x945.png)
Terra cryptocurrency fugitive Do Kwon flew to Serbia last month, South Korean prosecutor says
Interpol fugitive Kwon Do-hyung flew to the Republic of Serbia last month, South Korean prosecutors told Forkast, confirming local media reports.
![Markets: Bitcoin, Ether down as markets brace for November inflation data 57 Two bitcoins standing on a pile of money. | Markets: Bitcoin, Ether down as markets brace for November inflation data](https://forkast.news/wp-content/uploads/2022/12/Bitcoin1-1260x841.jpg)
Markets: Bitcoin, Ether down as markets brace for November inflation data
Bitcoin and Ether fell slightly in Monday morning trading in Asia, along with all other non-stablecoin cryptocurrencies in the top 10, excluding Litecoin.
Sam Bankman-Fried misses deadline to respond to Senate Committee hearing
Sam Bankman-Fried, the founder of the now-bankrupt FTX exchange, has missed the deadline set by the U.S. Senate Committee to confirm his appearance at an upcoming hearing.
![Markets: Bitcoin rises, Ether is biggest gainer in top 10 cryptos 58 close up of ethereum on a stack of bitcoin golden coins. | Markets: Bitcoin little changed, Ether rises ahead of ‘Shanghai’ upgrade, XRP climbs](https://forkast.news/wp-content/uploads/2022/11/AusETF-1260x840.jpg)
Markets: Bitcoin rises, Ether is biggest gainer in top 10 cryptos
Bitcoin and Ether gained in Asian trading on Friday afternoon, with Ether leading the rally across all the top 10 non-stablecoin cryptocurrencies
![SEC advises public firms to disclose crypto risks 59 SEC](https://forkast.news/wp-content/uploads/2022/12/SEC-1260x833.jpg)
SEC advises public firms to disclose crypto risks
The U.S. Securities and Exchange Commission (SEC) has advised publicly-listed firms to disclose their exposure to the cryptocurrency market, in light of the fallout of the FTX collapse.
![Bankman-Fried’s parents cancel classes at Stanford Law School for next year 60 sbf parents](https://forkast.news/wp-content/uploads/2022/12/sbf-parents-1260x700.jpg)
Bankman-Fried’s parents cancel classes at Stanford Law School for next year
The Stanford Law School professor parents of Sam Bankman-Fried, the founder of the collapsed cryptocurrency exchange FTX.com who has been accused of misusing customer funds, are not on next year’s class schedule at the school.
![Wemade to buyback US$10 mln in WEMIX after delisting verdict 61 WEMIX logo in flames | Wemade to buyback US$10 mln in WEMIX after delisting verdict | wemade, wemix news, wemix price, wemix classic](https://forkast.news/wp-content/uploads/2022/12/wemix-flames-1260x945.png)
Wemade to buyback US$10 mln in WEMIX after delisting verdict
Wemade, a S.Korean blockchain game maker, announced that it will buyback and burn US$10 million worth of its WEMIX token to stabilize its value.
![U.S. considering bill to require crypto miners to report carbon emissions 62 mining rigs](https://forkast.news/wp-content/uploads/2022/12/mirning-1260x704.jpg)
U.S. considering bill to require crypto miners to report carbon emissions
U.S. cryptocurrency miners would be required to report greenhouse gas emissions under a new bill submitted to the Senate, reflecting criticism the industry is adding to use of fossil fuels blamed for global warming.
![Markets: Bitcoin, Ether prices rise as gains in U.S. equities help cryptocurrencies bounce back 63 Crypto currency Gold Bitcoin | Markets: Bitcoin, Ether prices rise as gains in U.S. equities help cryptocurrencies bounce back | bitcoin price today, bitcoin news, ether price today, crypto market price](https://forkast.news/wp-content/uploads/2022/12/crypto-currency-gold-bitcoin-2021-08-29-08-17-23-utc-1260x664.jpg)
Markets: Bitcoin, Ether prices rise as gains in U.S. equities help cryptocurrencies bounce back
Bitcoin rose back above the US$17,000 mark in Friday morning trading in Asia, helped by gains in U.S. equities overnight.
![Sam Bankman-Fried probed over Terra-LUNA crash: report 64 Sam Bankman-Fried, CEO of FTX. Image: Getty Images](https://forkast.news/wp-content/uploads/2022/11/IMG_9621-1260x840.jpg)
Sam Bankman-Fried probed over Terra-LUNA crash: report
Federal prosecutors are reportedly investigating Sam Bankman-Fried for possible market manipulation that led to the Terra-LUNA crash in May
![Hong Kong's virtual asset licensing regime to take effect next June 65 hong kong 2021 08 26 18 13 04 utc](https://forkast.news/wp-content/uploads/2022/12/hong-kong-2021-08-26-18-13-04-utc-1260x841.jpg)
Hong Kong’s virtual asset licensing regime to take effect next June
Hong Kong passed the amendment to the bill that includes a licensing regime VASP on Wednesday, which will come into effect on June 1, 2023.
![Trader loses 70 ETH over bug in NFT marketplace Blur 66 Art Gobbler NFTs displayed on OpenSea](https://forkast.news/wp-content/uploads/2022/12/Art-Gobblers-Screencap_16x9-1260x709.png)
Trader loses 70 ETH over bug in NFT marketplace Blur
A bug in the new bidding system of non-fungible token (NFT) marketplace Blur caused a user to lose 70 ETH by accidentally overbidding on an Art Gobbler NFT.
![Markets: Bitcoin, Ether inch up; Shiba Inu leads rise across top 10 cryptos 67 Shiba Inu creator makes brief appearance, before disappearing again](https://forkast.news/wp-content/uploads/2022/05/14183933516_0b11d8b976_k-1260x840.jpg)
Markets: Bitcoin, Ether inch up; Shiba Inu leads rise across top 10 cryptos
Bitcoin and Ether inched up in Asian trading on Thursday afternoon, with Shiba Inu leading gains across most top 10 non-stablecoin cryptocurrencies. See related article: Markets: Bitcoin, Ether drop as SEC’s Gensler says crypto firms running out of time to comply with securities laws Fast facts See related article: FTX failure a ‘wake-up call’ for […]
Some 97% of Binance’s liabilities collateralized by Bitcoin, wrapped Bitcoin: Mazars
Some 97% of Binance’s scrutinized crypto liabilities are collateralized by Bitcoin and Wrapped Bitcoin, according to a report by auditing firm Mazars about Binance’s proof of reserves
![South Korea’s Wemade shares drop, WEMIX token plunges after delisting verdict 68 man in suit holding wooden block with downward sloping line, wemix logo | South Korea’s Wemade shares drop 20%, WEMIX token plunges 70% after delisting verdict | wemix, wemade, south korea, upbit, okx](https://forkast.news/wp-content/uploads/2022/12/wemix-drop-1260x945.png)
South Korea’s Wemade shares drop, WEMIX token plunges after delisting verdict
The South Korean blockchain game maker’s WEMIX cryptocurrency will be removed from the country’s four major cryptocurrency exchanges that collectively account for more than 95% of the country’s crypto trading volume.