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‘Buckle up’ for downsizing crypto market as employees laid off
The industry should fasten its seat belt, an industry watcher told Forkast, as the largest of crypto firms headline widespread layoffs amid the 2022 market crunch.

Singapore warms up to crypto industry — on its own terms
Crypto companies have voted with their feet in response to the city-state’s restrictions on their business. But they are still keeping an eye on opportunities.

CoinSwitch Kuber launches rupee index for Indian crypto market
Indian cryptocurrency exchange CoinSwitch Kuber launched CRE8 on Thursday, a rupee index tracking the Indian crypto market. See related article: India gets second crypto unicorn within two months Fast facts CRE8 claims to give traders real-time information on the Indian rupee-based crypto market, based on trades on the CoinSwitch exchange. “Until now, investors in India […]

Solana hangs on in crypto top 10 after major outage; DOGE, DOT hot on its heels
Following another system outage on Thursday, Solana’s (SOL) market capitalization has continued to fall as Dogecoin (DOGE) and Polkadot (DOT) are hot on its heels to possibly bump it out of the crypto top 10 by market cap. See related article: Solana loses consensus after bots flood network, SOL takes hit Fast facts While the […]

Kanye West changes anti-NFT stance, files to trademark YEEZUS name
The rapper, record producer and fashion designer is seeking trademark protection for his YEEZUS name, signaling an intent to launch namesake amusement parks, non-fungible tokens (NFTs), toys and more. See related article: UK regulator slams Kim Kardashian for endorsing speculative token Fast facts Applications for 17 NFT and metaverse experience trademarks were made to the […]

Fidelity’s crypto arm wants to add Ethereum trading, plans hiring spree
Fidelity Digital Assets, the crypto-focused subsidiary of Fidelity Investments, has planned a hiring spree to extend services to include Ethereum trading and custody. See related article: Fidelity allows retirement investments in Bitcoin Fast facts Fidelity Digital Assets was founded in 2018 to enable institutional investors to store and trade Bitcoin — its parent company announced […]

Goblintown NFTs notch up over US$10 mln in sales over 24 hours
Goblintown NFTs, a new meme-adjacent collection, surpassed the likes of Bored Ape and Mutant Ape Yacht Club, according to CryptoSlam. See related article: Azuki fortunes reverse as sales soar after floor price drop Fast facts Launched on May 22, Goblintown NFTs are unapologetically crude drawings of goblin-like creatures, with a culture built around poor grammar, […]

Binance’s venture arm raises US$500 mln to invest in Web3, blockchain
Binance Labs’ fundraise comes as venture capital investments face headwinds from expectations of interest rate increases. See related article: Binance’s investment in Forbes is a wake-up call for the crypto industry Fast facts See related article: Binance, a16z among investors backing Musk’s Twitter bid with US$7B

Why blockchain gaming needs more rules and regulations
The right balance of regulations can better protect gaming companies’ intellectual property as well as players’ assets, writes Henry Chang of Wemade.

South Korea arrests man for allegedly stealing crypto based on personal data
South Korean police said Wednesday they arrested a man in his 30s on fraud charges for allegedly stealing about US$658,000 in cryptocurrencies based on personal data leaked on local social media platform Naver Band. See related article: Guilty verdicts handed down in S.Korea’s biggest crypto scam Fast facts The man allegedly stole cryptocurrencies from 90 […]

Retail investors shouldn’t invest in crypto: Singapore’s deputy PM
Singapore’s Deputy Prime Minister Heng Swee Keat cautioned retail investors to steer clear of investments in cryptocurrencies, saying the nascent asset class “is a highly risky area.” See related article: Singapore wants to bring some adult supervision to crypto Fast facts Many investors suffered losses and even lost their life savings in the recent meltdown […]

Crypto market reverses course after strong start to the week
Bitcoin dropped more than 6.5% in the past 24 hours to trade below US$30,000 as the world’s largest cryptocurrency by market capitalization gave up most of the gains made over the U.S. holiday weekend. It was trading at US$29,850 at the time of publishing. See related article: Bitcoin, Ethereum, crypto at 2022’s lowest point Fast […]

Former OpenSea employee arrested amid insider trading allegations
The U.S. Department of Justice (DOJ) has charged Nate Chastain, a former employee of the non-fungible token (NFT) marketplace OpenSea, with wire fraud and money laundering for allegedly using confidential information from the platform to trade NFTs. See related article: Insider trading scandal rocks world’s biggest NFT platform OpenSea Fast facts The DOJ alleges Chastain, […]

Terra’s LUNA moonshot can’t escape gravity of market misgivings
Top blockchain and crypto news: Investors shun LUNA 2.0. Ethereum gains amid relief rally. China’s stimulus goes digital.

Philippines gets new government, will new crypto taxes follow?
Cryptocurrency companies in the Philippines await legislation from the new Ferdinand Marcos Jr. administration on how the government will tax the industry. Some are worried.

South Korea to launch crypto oversight committee after Terra crash
In its urgency to reign in the cryptocurrency industry in the wake of the Terra collapse, South Korea will launch a “Digital Asset Committee” by the end of June, according to a local news report. See related article: South Korean authorities cite LUNA debacle to call for speedier crypto oversight Fast facts The committee will […]

Sophia the Robot launches ‘Baby Singularities’ NFT collection on OpenSea
The “social” humanoid developed by the Hong Kong-based Hanson Robotics released her non-fungible token (NFT) collection, Baby Singularities, on OpenSea on Wednesday, according to a statement on her verified Twitter handle. See related article: Meta showcases focus on AI, announces new voice assistant program Fast facts Sophia, who gained fame for being the world’s first […]

Macao needs China’s heft in tech to introduce CBDC, official says
Lei Wai Nong, Macao’s secretary for economy and finance, said China’s expertise in developing its digital yuan could help the specially administered region introduce a central bank digital currency (CBDC), according to local media reports. See related article: China to issue free digital yuan to boost locked down economy Fast facts Lei said he will […]

Dunamu denies making US$100 million off of LUNA
Dunamu, the South Korean fintech company and operator of the country’s largest crypto exchange Upbit, rebutted claims that it profited by over 130 billion Korean won (US$105 million) off of LUNA Classic last year. See related article: S.Korea eyes restraints on crypto unicorn Dunamu over monopoly concerns Fast facts Last week, multiple local media reports […]

BNB Chain teases out roadmap to boost decentralization, support dApps
BNB Chain’s roadmap for the year will prioritize faster transactions and enhanced support for decentralized applications (dApps), the world’s largest cryptocurrency exchange by volume said. See related article: Binance rebrands blockchains for metaverse, DeFi expansions Fast facts In its 2022 technical roadmap released Tuesday, BNB Chain said it is working to offer end users more […]

Kassio launches crypto-based financial services in India
Global crypto asset management platform Kassio has launched its services in India to help its users extract value from their crypto holdings beyond just trading, the company said in a statement. See related article: CoinDCX offers to let Indians earn yield on crypto holdings Fast facts Kassio offers instant crypto-backed loans and interest earnings up […]

Singapore plans digital assets initiative with financial industry
The Monetary Authority of Singapore (MAS) has announced Project Guardian, a collaborative initiative with the financial industry to explore the economic potential and value-adding use cases of asset tokenization, according to a statement from Deputy Prime Minister Heng Swee Keat on Tuesday. See related article: Singapore wants to bring some adult supervision to crypto Fast […]

Ethereum scaler Optimism airdrops OP tokens
Popular Ethereum layer-2 scaling solution Optimism airdropped its new OP governance token to nearly 249,000 eligible wallets on Wednesday morning Asia time. See related article: Vitalik Buterin: Layer 2 is the future of Ethereum scaling Fast facts The airdrop was first announced in an April blog post which outlined plans for the network to launch […]

South Korea’s Dunamu, Sooho.io to develop SWIFT-like bridge for Web3
South Korea’s smart contract auditing firm Sooho.io is partnering with Lambda256, the blockchain subsidiary of Upbit operator Dunamu, to develop a bridge layer connecting the country’s fragmented decentralized finance (DeFi) and Web 3.0 ecosystem. See related article: Two crypto exchanges reach unicorn status in South Korea Fast facts The new bridge will work as a […]

Memo to Crypto World: Wall Street is here to stay
Wall Street did it! At least that is one of the theories about the cause of the nearly US$50 billion meltdown of Terraform Labs stablecoin and LUNA cryptocurrency. How does that stand up?

Shiba Inu creator makes brief appearance, before disappearing again
The pseudonymous creator of Shiba Inu, Ryoshi, came online after a year on Monday only to delete all of its social media activity, and disappear again. See related article: Shiba Inu metaverse tease fuels 60% price boost Fast facts Ryoshi, who last tweeted on May 29, 2021, deleted all tweets and Medium blog posts, leaving […]

Sellers of Solana NFTs outpace buyers in May
With over 1 million vendors, unique non-fungible token (NFT) sellers on the Solana blockchain hit an all-time high in May, outpacing unique buyers, according to data tracker CryptoSlam. See related article: Solana NFT sales drop by 21% after OpenSea integration Fast facts From April to May, the number of unique sellers grew by almost 170%. […]

First Digital to launch Asia’s first secondary market for private crypto equity assets
The Hong Kong-based public trust company Tuesday announced a US$20 million funding round to build up a secondary market for private equity and digital assets, according to a press release. See related article: Singapore wants to bring some adult supervision to crypto Fast facts The venture for empowering startups Nogle and the Blockchain Technology venture […]

Terra’s Mirror Protocol fixes exploit that drained more than US$2 million
Whether the fixing of a pricing error by Mirror Protocol, the decentralized finance (DeFi) application built on Terra Classic, will help prevent a drainage of the pool similar to last year will only be known by the end of U.S. trading hours on Tuesday. See related article: Winning back the trust of the Terra community […]

India almost ready with crypto consultation paper: Official
The Indian government is studying how other countries have regulated the asset class before drafting laws for the industry, the secretary for economic affairs Ajay Seth told local media. See related article: Crypto regulation has to ‘take its time’: India FM Nirmala Sitharaman Fast facts “Our consultation paper is fairly ready. We have gone into […]

Russian official calls for crypto mining regulation: Report
Russia’s Deputy Minister of Industry and Trade Vasily Shpak called for regulating cryptocurrency mining as the industry has grown too big to ignore, Interfax news agency reported on Friday. See related article: Russia uncovers a crypto mining farm in its oldest prison: report Fast facts Shpak said that crypto mining activities took up over 2% […]

Why children around the world need crypto education
Financial literacy is a life skill that is often neither taught at school nor home, writes Grace ‘Ori’ Kwan of Orca. How can we close this knowledge gap?

Ethereum passes US$2,000 mark as crypto market rises
Ethereum gained over 10% in 24 hours to reach US$2,000 on Tuesday morning in Asia after spending the better part of a week below the mark. Ethereum was trading at US$1,985 at press time. See related article: Bitcoin, Ethereum, crypto at 2022’s lowest point Fast facts The world’s second-largest cryptocurrency hit a low of US$1,721 […]

Prada is pioneering its first solo NFT drop Timecapsule
Luxury Italian fashion house Prada announced a scheduled June 2 drop of its first independent non-fungible tokens (NFT), Timecapsule NFT, following its January NFT collaboration with Adidas. See related article: How high fashion is waking up to blockchain’s possibilities Fast facts First started in December 2019, Prada Timecapsule is a monthly online event where an […]

How DAOs are remaking capitalism into a community-owned economy
Fueled by seismic shifts in societal values, decentralized autonomous organizations are now poised to go mainstream, writes Hannes Graah of Gro.

Governments pushing for CBDCs smell blood in Terra Classic’s struggles
Advocates for central bank digital currencies argue their inherent stability supersedes any benefits so-called stablecoins, algorithmic or otherwise, could offer.

Tezos, generative NFTs take spotlight at Art Basel, Hong Kong
The Tezos blockchain showcased the evolving relationship between art, technology and culture at a three-day interactive exhibition, The Ever-Evolving World of Art, at Art Basel, Hong Kong, which ended Sunday. See related article: How Asia’s generative NFT art is reshaping the global creative culture Fast facts The event featured NFT works from 22 international digital artists, […]

China to issue free digital yuan to boost locked down economy
Shenzhen, Guangzhou, and Xiong’an New Area announced they are distributing free digital yuan “red packets” to boost local consumption amid China’s economic slowdown fueled by mass Covid lockdowns. See related article: Covid-19, postponed Asian Games to push digital yuan into the slow lane? Fast facts See related article: What I learned from my role in […]

Terra 2.0 new LUNA is down 70% since restart
The new LUNA was trading under US$6 on Monday morning Asia time, after peaking at US$18.87 shortly following the launch of the Terra 2.0 blockchain on Saturday, according to data from CoinGecko. See related article: Winning back the trust of the Terra community a tall order for Do Kwon: Experts Fast facts LUNA Classic (LUNC) […]

NFTs based on late Qing dynasty painter Wu Changshuo’s artwork sell out
Non-fungible tokens (NFTs) featuring Chinese late Qing dynasty painter Wu Changshuo’s artwork debuted on Tencent’s Huanhe NFT platform on Thursday with all 28,000 copies selling out immediately after the drop, reflecting a still robust market for such assets in China. See related article: Chinese stock image agency VCG tests NFT marketplace Fast facts The Wu […]

RBI wants its CBDC to bring ‘little or no disruption’
The Reserve Bank of India (RBI) is aligning its central bank digital currency (CBDC) design with monetary policy objectives and financial stability, the central bank said in its annual report. See related article: Report: Stablecoins, CBDCs may not resolve financial inclusion, international remittance challenges Fast facts Finance Minister Nirmala Sitharaman announced in February the RBI […]

Iagon’s Ethereum-Cardano bridge launches for USDC transfers
The world’s second-largest stablecoin USDC and ERC-20 IAG tokens can now be bridged from Ethereum to the Cardano network through Iagon’s cross-chain bridge powered by the Milkomeda sidechain. See related article: Wormhole to bridge Polkadot, Kusama to Ethereum, Solana Fast facts A cross-chain bridge allows for crypto assets of one blockchain to be converted for […]

Winning back the trust of the Terra community a tall order for Do Kwon: Experts
Do Kwon’s proposal to create a new Terra network chain is set to go live this weekend — what does Terra 2.0 entail and will it successfully win back its following?

Move-to-earn app STEPN to limit service in China
STEPN on Friday said it would stop providing Global Positioning System (GPS) and Internet Protocol (IP) location services to users in mainland China starting mid-July. See related article: Chinese runners offer substitute running to earn STEPN’s GMT for commission Fast facts STEPN said the move was made to abide by Chinese regulations and that it […]

ARK Investment, 21Shares take another try at a spot Bitcoin ETF
Veteran investor Cathie Wood’s ARK Investment Management and Swiss investment product issuer 21Shares are trying their luck again at getting a spot Bitcoin exchange-traded fund (ETF) approved. See related article: SEC comes around on Bitcoin ETFs Fast facts Cboe BZX Exchange, Inc. is seeking the Securities and Exchange Commission’s (SEC) approval to a proposed rule […]

Terra to burn leftover UST (USTC) stablecoins in community pool
The Terra governance system has given a 99.39% approval on Friday Asia time to burn about 1.38 billion TerraClassicUSD (USTC), or approximately 11% of the total supply of the stablecoin’s supply. See related article: Terra, LUNA vote ends in favor of Do Kwon’s new chain proposal Fast facts There is a total of about 11.2 […]

Chinese stock image agency VCG tests NFT marketplace
Visual China Group (VCG), China’s largest stock image provider, has started a non-fungible token (NFT) marketplace that lets users outside of mainland China pay with Ether. See related article: China’s diktat against NFT flipping spawns an ingenious industry Fast facts The platform, dubbed “Vault by 500px,” went live with a beta version on Wednesday, and […]

Non-Fungible Man NFT hero coming to Comic Con India
Pop culture event Comic Con India (CCI) will dive into the metaverse with the launch of non-fungible token (NFT) collectibles Non-Fungible League. See related article: How the metaverse is closing the gap between virtual and reality Fast facts The Non-Fungible League will create and mint heroes for the metaverse, and will contain a series of […]

CBDCs, stablecoins can coexist: Fed Vice Chair Lael Brainard
U.S. Federal Reserve Vice Chair Lael Brainard said a central bank digital currency (CBDC) could coexist and complement stablecoins in her Thursday testimony to a House Financial Services Committee virtual hearing. See related article: CBDC tracker shows U.S. falling further behind Fast facts CBDCs are digital currencies released and backed by central banks, while stablecoins […]

Huobi acquires Bitex for Latin America expansion
The world’s third-largest cryptocurrency exchange in terms of trading volume Thursday said it acquired Latin American crypto exchange Bitex to expand its footprint in the region. See related article: Huobi Group poised to establish regional hub in Singapore Fast facts Though terms of the deal were not disclosed, Huobi said it plans to integrate Bitex’s […]

‘Crypto is not something that can be ignored anymore’: NEAR Foundation CEO
Flament’s comments come as governments around the world step up regulation of the sector plagued by frequent frauds, high-profile run-on-the-banks and misrepresentation from the anonymity blockchain and cryptocurrency offer.

CoinDCX offers to let Indians earn yield on crypto holdings
The operator of the Indian cryptocurrency exchange is working with large institutional borrowers, third-party lending partners and staking platforms to generate yield on cryptocurrency and digital assets, CoinDCX said in a statement. See related article: CoinDCX investment arm to invest US$13 mln in Web3 startups Fast facts The yield program doesn’t come with lock-in periods […]

Andreessen Horowitz’s crypto, Web 3.0 warchest swells to US$7.6B
a16z crypto said its fourth fund raised US$4.5 billion, bringing the total amount of funds raised for investment in crypto and Web 3.0 startups by the famed Silicon Valley venture capital firm to more than US$7.6 billion. See related article: Binance, a16z among investors backing Musk’s Twitter bid with US$7B Fast facts Around US$1.5 billion […]

What does the new Australian Labor government mean for the crypto industry?
Changes in government don’t come about too often in Australia, so there’s always plenty to unpack when it does, including what’s in store for investors in the world of cryptocurrency.

China Supreme Court calls for mass blockchain adoption in judicial system
The Supreme People’s Court of China urged the local judicial system to adopt blockchain technology to build up connections between courts across the country by 2025. See related article: How blockchain technology is shaking up courtrooms in Asia Fast facts The Supreme Court said in a document published on Wednesday that blockchain can utilize the […]

JPMorgan sees upside for Bitcoin, crypto amid market downturn
A JPMorgan strategist said digital assets are the bank’s preferred alternative asset class while placing Bitcoin’s fair price value at 28% higher than its current price of about US$29,000. See related article: JPMorgan predicts $150,000 Bitcoin price in the long run Fast facts “Going forward, we see upside for Bitcoin and crypto markets more generally,” […]

Why a Hong Kong CBDC is coming — for institutions
Governments around the world are racing to develop their own digital currencies, but an e-HKD may not make sense for Hong Kong’s people. John Mitchell of Episode Six explains why Hong Kong is unique.

Crypto tax preparer CoinTracker launches in India
The digital assets tax compliance and portfolio tracking firm’s launch in India comes after the country announced a series of measures to benefit off the gains made in cryptocurrencies. See related article: India tax breaks crypto’s back Fast facts Crypto users in India can use CoinTracker to aggregate and reconcile cryptocurrency and non-fungible token (NFT) […]

Bitcoin mining hashrate, difficulty drop since crypto crash
Bitcoin’s hashrate dropped by 10.6% to 204.4 exahashes per second on Wednesday on a seven-day average from its peak earlier this month, Blockchain.com data show. See related article: Beijing banned crypto mining, so China miners went underground Fast facts The Bitcoin mining difficulty level fell by 4.33% to 29.9 trillion at block height 737,856 on […]

Moonbirds NFTs drained in US$1.5 mln phishing scam
Around US$1.5 million worth of 29 Moonbirds non-fungible tokens (NFT) were stolen in a phishing scam on Wednesday. See related article: Beeple’s Twitter account latest victim to phishing scam hacks Fast facts A phishing attack is where scammers use deceptive means to direct victims to malicious links to steal personal information. Twitter user @0xLosingMoney has […]

Terra, LUNA vote ends in favor of Do Kwon’s new chain proposal
Terra’s governance vote closed on Wednesday evening Asia time with 65.50% of governance voters in favor of Terraform Labs CEO Do Kwon’s proposal to create a new blockchain. See related article: Terra raises aUST initial token float to 30% in revival plan amendment Fast facts Kwon’s “Terra Ecosystem Revival Plan 2” ditches the algorithmic stablecoin […]

Tether USDT shaken by stablecoin market storm
Top blockchain and crypto news: Billions cut ties with Tether. Are Terra’s UST troubles just beginning? China’s miners stay one step ahead.

Kerner at Blockchain Coinvestors says Terra was a Ponzi strategy
The crypto community is still dealing with the fallout from the multibillion-dollar collapse of Terra-LUNA. At a Davos event organized by Forkast, we asked what caused the crash and if it was foreseeable.

How can I become a metaverse real estate mogul?
If buying a home is the American Dream and key to building wealth, what is that like in the metaverse? Crypto newcomer Joel Stein finds out.

China expands use of the digital yuan to high school campuses
The Lu Xun High School in China’s Hainan province has provided students with a new campus smart card device with digital yuan payment functionalities, further expanding use of the e-currency at education institutions, China’s largest state-owned broadcaster China Central Television (CCTV) reported Tuesday. See related article: Covid-19, postponed Asian Games to push digital yuan into […]

Coinbase is the first crypto firm to make the Fortune 500 list
Nasdaq-listed Coinbase Global, Inc. became the first cryptocurrency company to make it to the Fortune 500 list of the biggest U.S. corporations on Monday. See related article: Coinbase blames India’s central bank for exit Fast facts Coinbase’s 2021 revenue of US$7.8 billion brought the company to the 437th rank in Fortune’s annual list. The top […]

S. Korea finance regulator to audit Terra and related exchanges
The Financial Supervisory Service (FSS) of South Korea will perform an on-site inspection of Terraform Labs and financial services linked to TerraUSD (UST) or LUNA. See related article: Are we heading for a post-Terra crypto winter? Fast facts The FSS said at an emergency National Assembly meeting on Tuesday that the audit aims to prevent […]

Hydropower plant in China’s Hubei province fined for powering crypto mining
Chinese authorities have fined a hydropower plant in Central China’s Hubei province 43,493 yuan (US$6,528) for “illegally supplying electricity to virtual currency mining operations,” as the country continues to crack down on cryptocurrency operations. See related article: Beijing banned crypto mining, so China miners went underground Fast facts In addition to the fine, the authorities […]

Brave integrates Solana as part of browser’s Web3 push
Brave announced on Wednesday it has added support for the Solana blockchain to expand Web 3.0 access for the browser’s 15.5 million daily users. See related article: What decentralization can offer Web 3.0 and social media | Part 1 Fast facts The Brave Wallet can now be used to buy, sell and hold Solana-based cryptocurrencies. […]

China’s BSN to launch overseas public chain without crypto support
China’s state-backed infrastructure Blockchain-based Service Network (BSN) announced on Tuesday that it is preparing the launch of BSN Spartan on Aug. 31, a new international network for non-cryptocurrency public chains. See related article: Resist the temptation on NFTs, Chinese state-backed developer says Fast facts “We’re not against public chains, but we’re against crypto,” BSN developer […]

Beijing banned crypto mining, so China miners went underground
Authorities and Bitcoin miners play a cat-and-mouse game as miners find means to stay off the government radar and dodge crackdowns.

Crypto crash justifies RBI’s stance: central bank chief
Reserve Bank of India (RBI) governor Shaktikanta Das said in a local media interview that the central bank has rightly been cautioning against cryptocurrencies, following the collapse of Terra’s UST and LUNA. See related article: RBI calls for crypto ban in India, again Fast facts Das told CNBC TV18 on Monday that if crypto had […]