Forkast.News is now Forkast Labs
cybercrime

Arming up for a better fight against crypto-related crime

The current technologies in use do little to deter crypto money laundering, writes Dr. Mark van Staalduinen. What can nations do about this?
kz

Kazakh crypto miners remain hopeful, assess satellite option amid unrest

Internet blackouts are partially restored but access remains unpredictable to support full crypto mining, industry players say.
Bitcoin

Is Bitcoin’s rocky start to 2022 a sign of things to come?

The 2022 crypto market has had a tough start as Bitcoin and Ethereum dipped below significant price points. But crypto experts say it’s not all doom and gloom.
Binance CEO Changpeng Zhao is richest man in Asia, Bloomberg data shows

Binance CEO Changpeng Zhao is the richest Asian, Bloomberg data shows

Binance CEO Changpeng Zhao is now the richest Asian person with an estimated net worth of US$96 billion, even without counting his crypto fortune, according to the Bloomberg Billionaires Index. Fast facts The daily index ranks the world’s 500 richest people, a list on which the 44-year-old Canadian founder would place 11th, according to the […]
Bitcoin and crypto mining farm. Big data center.

China officially labels crypto mining as ‘obsolete’

China’s top economic planning body has officially designated crypto mining as “obsolete,” reinforcing government efforts to stamp out the industry entirely.  Fast facts
Kakao's Klaytn blockchain platform | Kakao’s Klaytn gets five new friends to drive global expansion

Kakao-backed Klaytn announces 5 partners for gaming and metaverse expansion

Klaytn, a public blockchain platform under South Korean internet giant Kakao, announced on Monday five partnerships to drive plans to become a global blockchain benchmark for the increasingly competitive gaming and metaverse space in 2022. Fast facts Klaytn is partnering with Japanese tech giant GMO Group, Indonesia’s Innovation Factory, NFT marketplace East NFT, U.S.-based entertainment […]
GettyImages 1343593017

US central bank chief says he will tackle higher inflation

Federal Reserve Chairman Jerome Powell will reiterate his pledge to prevent entrenched inflation, in testimony released before his Senate nomination hearing on Tuesday.  Fast facts “We will use our tools to support the economy and a strong labor market and to prevent higher inflation from becoming entrenched,” he said in a statement prepared for delivery. […]
Ajla Tomljanovi

Aussie tennis star rides NFT wave as Australian Open looms

Australian cryptocurrency exchange BTC Markets has partnered with the country’s No. 2 tennis star Ajla Tomljanovic ahead of the Australian Open to release limited edition non-fungible tokens (NFTs). Fast facts The NFTs will be in the form of Proof of Attendance Protocol, akin to a digital concert ticket stub proving attendance,  that will allow owners […]
phantabear

Taiwan icon Jay Chou’s PhantaBear NFT dethrones Bored Ape Yacht Club

A new non-fungible token (NFT) collection backed by Taiwanese superstar Jay Chou has dethroned Bored Ape Yacht Club (BAYC) on the OpenSea NFT marketplace in trading volume, reflecting growing interest in celebrity-endorsed digital collectibles. Fast facts The PhantaBear NFT series, co-created by Jay Chou’s hipster brand PHANTACi, sold out its 10,000 algorithmically-created NFTs on Jan. […]
CFTC logo on a brick wall

Is the CFTC expanding its powers over crypto without authorization from Congress?

The CFTC is asserting greater regulatory powers over the crypto industry than ever before. But does the agency have the statutory backing to do so?
and
PBOC

China’s digital yuan wallet gets 16 million downloads in debut week

China’s pilot e-CNY wallet application, currently available in a dozen major cities, topped 16 million downloads in the first week after its launch, according to two data providers. Fast facts
Sega's Sonic the Hedgehog | Sonic creator Sega may shelve NFT project if fan backlash continues

Sonic creator Sega may shelve NFT project if fan backlash continues

Sega, the Japanese gaming giant, has vowed to backtrack on its NFT (non-fungible tokens) plans if fans continue to criticize the project. Fast facts (Update removes mention of Mortal Kombat)
Kazakhstan

Kazakhstan internet restoration still not enough for crypto miners, NetBlocks says

Limited restoration of internet access in Kazakhstan is not enough to bring the world’s second-largest crypto mining hub back fully online, according to internet tracker NetBlocks.  Fast facts Last week, internet access in the central Asian nation was shut off after protests over fuel prices spread across the country, resulting in more than 100 deaths […]
PayPal

PayPal confirms exploring USD-backed stablecoin for payments

Payments giant PayPal confirmed it is exploring its own stablecoin after evidence of such a project was found in its iPhone app’s code. Fast facts “We are exploring a stablecoin; if and when we seek to move forward we will of course, work closely with relevant regulators,” PayPal’s Senior Vice President of Crypto and Digital […]
GettyImages 1321730005

Race to be crypto hotspot heats up in Miami, New York

What’s behind the crypto cheerleading by U.S. mayors? Are their city coins savvy moves — or will the bespoke crypto end up worthless?
Tendermint CEO Peng Zhong

Tendermint CEO Peng Zhong on how the Cosmos ecosystem is connecting a multi-chain world

In a special Q&A, a core contributor to the rapidly expanding Cosmos ecosystem discusses the ‘internet of blockchains’ and the new cross-chain economy.
The Sandbox Mega City poster | The Sandbox metaverse unveils partners for Mega City

The Sandbox metaverse names Mega City project partners

Gaming metaverse the Sandbox announced the partners for its upcoming Hong Kong-influenced virtual cultural hub.
Google's New office in Taiwan,

Foxconn’s Taiwan subsidiary receives investment from Google for metaverse projects

The US tech giant will pour $40M via private placement in Ennoconn, as the iPhone supplier continues to dream big for metaverse.
Kazakhstan, Kazakh riots hit crypto miners amid internet blackout

Kazakh riots hit crypto miners amid internet blackout

Bitcoin hashrates tumble as miners unprepared for an outage, experts say.
A Meituan food delivery worker wearing yellow uniform, China's largest food delivery platform Meituan accepts e-CNY payment

China’s largest food delivery platform Meituan accepts e-CNY payment

Hong Kong-listed Chinese food delivery giant Meituan, which occupies 70% of the market share, on Wednesday started to accept digital yuan for payments, as tested by Forkast.News.  Fast facts Users first need to link their wallets to Meituan in the e-CNY app; then they can pay for an order by selecting digital yuan in the […]
FlashCrash

Flash crash hits crypto market, but prices steady throughout Asia trading day

Bearish concerns over Federal Reserve rate hikes show a continued correlation with traditional markets, but industry watchers see changing dynamics at play.
Samsung’s newer TV line ‘The Frame’ | LG to follow Samsung in mixing NFT features in its flagship TV line

LG to follow Samsung adding NFT features to flagship TVs

The ability to display, buy and even mint NFTs is seeping into mainstream products from South Korea’s largest corporations.
Australian Open

Australian Open comes to metaverse platform Decentraland

The Australian Open (AO) is one of the biggest sporting events on the world tennis calendar, and now there is another way to watch, as this year’s tournament will also be held in Decentraland — the decentralized metaverse platform. Tennis fans will be able to participate further through buying non-fungible tokens (NFTs) linked to live […]
Tax authorities recover US$9M from India’s biggest crypto exchanges

Tax authorities recover US$9M from India’s biggest crypto exchanges

Some of India’s largest crypto exchanges, including WazirX, blame ambiguity in the regulation of cryptocurrencies for missed tax payments.
kazakhstan flag is depicted on a sports cloth fab 2021 08 30 05 37 44 utc

Amid riots over fuel prices, Kazakhstan government resigns

Since China’s crypto bans, Kazakhstan has become a popular destination of energy-intensive crypto mining companies.
The sign of e-CNY, E-CNY’s transaction volume, private wallets surges in October

China’s digital yuan app now publicly accessible, one step closer to launch

But e-CNY adoption remains an issue, with mobile payment platforms such as Alipay and WeChat Pay already ubiquitous.
and
Bitcoin Conference Draws Cryptocurrency Fans To Miami

CBDCs and the year that may reshape crypto markets

Top blockchain and crypto news: CBDCs at the crossroads. A token gesture from Samsung. NFTs survive in China.
canaan

Chinese mining rig maker Canaan deploys 10K machines in Kazakhstan

Chinese cryptocurrency mining rig maker Canaan announced Tuesday that it has entered into multiple partnerships in Kazakhstan and deployed over 10,000 mining machines in the country, as the company steps up efforts to expand globally. Fast facts Canaan said in a statement it has successfully launched the last batch of mining machines online under its […]
Goldman Sachs: Bitcoin could reach $100k by beating gold

Goldman Sachs: Bitcoin could reach $100K price by beating gold

Goldman Sachs, one of the world’s largest banks, joins the list of analysts predicting the price of Bitcoin could reach US$100,000, according to a report by Bloomberg. Fast facts According to Goldman Sachs estimates, Bitcoin’s float-adjusted market capitalization is just shy of US$700 billion, which accounts for a 20% share of the “store of value” […]
OpenSea

Bitcoin, Ethereum price level sluggish while NFT sales volume surges

The crypto market leaders are trading sideways so far in the new year. But NFT trading volume has exploded, with strong Q1 performance expected.
Asian man sitting in darkness with glowing script symbols and hacking system

What are the 3 key trends in cybersecurity in 2022?

Cryptocurrency is fueling crimes like malicious mining and ransomware attacks, writes Andrew Brandt of Sophos. What can a company do to protect itself?
A South Korean woman wears a mask and plastic gloves cast her vote in a polling station on the Parliamentary election in 2020 | Crypto commitments are an election issue for South Korea’s presidential candidates

Crypto is presidential election campaign issue for South Korea

In South Korea, a new presidential administration will be chosen in March. Here’s where the four major candidates stand on Korea’s booming virtual asset space.
and
guangxi

South China’s Guangxi region looks to cross-border e-CNY trade uses

Guangxi, China’s southern provincial-level region, is researching cross-border finance, supply-chain service platforms and e-CNY applications, according to a report by local state-run media Guangxi Daily. Fast facts The Guangxi autonomous region — often seen as a gateway for Association of Southeast Asian Nations (ASEAN) trade — plans to support cross-border circulation of capital, according to the […]
and
cryptopunk

CryptoPunk NFT sells for $820K, reflecting Chinese investor interest

A CryptoPunk non-fungible token (NFT) — CryptoPunk #8690 — was sold at an auction in Shanghai organized by Shanghai Jiahe Auction earlier this week for 5,232,500 yuan (US$823,300), with a starting price of 1.5 million yuan (US$236,000), reflecting growing investor interest in NFTs in China despite criticism from state-controlled media. Fast facts V.V Yu, general manager […]
and
Web 3.0 modern internet concept; businessman studying how to capitalize web 3.0 trend with organization charts

Ignore the rise of Web3 credit unions at your peril

Today’s consumers are looking for more equitable financial services, writes Sean Rach of hi. Here’s how blockchain can offer a nonprofit banking alternative.
close up photo of NFT coins with neon lighting

Top 5 NFT trends to watch in 2022

NFTs are finding novel uses across many sectors, from fashion to real estate. What industries stand to benefit most from this technology in the year ahead?
Seoul, South Korea at the Bukchon Hanok historic district. | South Koreans required to report foreign crypto accounts in 2022

South Koreans required to report overseas crypto accounts

In South Korea, virtual asset investors with more than 500 million Korean won, or approximately US$418,935, worth of crypto assets in overseas accounts must report to their regional tax authorities beginning in 2023. Fast facts According to a new year guidebook by the Ministry of Economy and Finance, any resident or domestic corporation with overseas […]
Bitcoin on China's flag, China continues to ban cryptocurrencies

China moves to ban internet marketing services for crypto

The Chinese government published a draft regulation on Dec. 31 stating that no organization or individual is allowed to provide internet marketing for illegal financial activities, which include cryptocurrency transactions. Fast facts The regulation, drafted by the People’s Bank of China — China’s central bank — and other Chinese government institutions stipulates that any organization or […]
CZ

Binance faces regulatory rebuke in Ontario, obtains preliminary approval in Bahrain

The world’s largest crypto exchange continues struggling to stay compliant, but it has seen some luck in the Middle East.
Bitcoin with birthday cake, a reflection on Bitcoin on the 12th Bitcoin Genesis Day

Happy birthday, Bitcoin! You’re still killing it

Love it or hate it, Bitcoin can be a powerful force for good — and it’s here to stay, writes Peter Vessenes, co-founder of The Bitcoin Foundation.
Sydney crypto

After a stellar year for Bitcoin and record crypto prices, what to expect in 2022

2021 was a big year for crypto. As we enter a new year, Forkast.News asks market watchers what might be in store for the next 12 months.
Final Fantasy XIV: Endwalker | Japan’s Square Enix reveals blockchain gaming ambitions for 2022

Japan’s Square Enix reveals blockchain gaming ambitions for 2022

Yosuke Matsuda, president of Square Enix — the game developer behind Final Fantasy, Dragon Quest and Kingdom Hearts — recently reiterated the company’s blockchain ambitions while acknowledging ongoing concerns about the new trend. Fast facts In a new year’s letter posted on the company website, Matsuda emphasized that incorporating blockchain technology into gaming holds “the […]
birthday cake with candles and drip icing 2021 08 29 09 29 22 utc

Bitcoin at 13: The new age of crypto

With wider acceptance as a financial asset, a teenage Bitcoin may not see the explosive 200% average annual returns of the past, but also may experience less price volatility.
blockchain technology concept 2021 08 26 15 33 00 utc 2

Top 5 blockchain trends for 2022 and beyond

Looking beyond this year’s headlines like El Salvador’s Bitcoin adoption, here are the key developments in blockchain technology that will have lasting impact in the new year and beyond.
South Korea flag waving against cloudy sky | South Korea cryptocurrency exchanges update

South Korea crypto exchange underdogs: Where are they now?

A regulatory hurricane swept away half of South Korea’s crypto exchanges in 2021. Who are the survivors — and are there larger lessons for the rest of the world?
bitcoin and safety lock, How to protect crypto privacy in the age of regulation

How to protect crypto privacy in the age of regulation

It’s a myth that crypto transactions are anonymous, writes Warren Paul Anderson of Discreet Labs. Confusing anonymity with privacy is what causes trouble.
Developing in Asia: Forkast’s 5 biggest regulatory stories in 2021

Crypto in Asia: 5 top fintech regulatory stories of 2021

Countries acted to encourage — or discourage — cryptocurrency and other blockchain-based assets, sending markets wildly up and down.
Ethereum

The top 5 ‘Ethereum killers’ of 2021

Ethereum was game-chaging at its 2015 launch, but today it’s showing its age. As Eth2 upgrades slowly unfold, who are the top rivals trying elbow out the #2 blockchain?
the word of rules on wooden blocks, What lies ahead for crypto regulations in 2022

What lies ahead for crypto regulations in 2022

From China’s ban to FATF’s travel rule, crypto regulations have been top of mind this year. How might regulatory impulses and current trends play out?
various cryptocurrency coins, How DeFi is devouring traditional finance, bit by bit

How DeFi is devouring traditional finance, bit by bit

2021 will go down as the year the DeFi giant woke up, writes Derek Alia of Futureswap. What lies in store for decentralized finance in the year to come?
Hands holding crystal ball with icons of Bitcoin, Ethereum, NFTs and community

Looking ahead: 3 crypto predictions for 2022

As 2021 draws to a close, what are this year’s milestones and trends to watch in the year ahead? Forkast.News consults experts to find out.
Bitcoin

Year in cryptocurrency: biggest surprises of 2021

While increasing crypto adoption was predictable, 2021 also saw much that was unexpected. Here are the events that shocked even crypto natives.
Screen Shot 2021 12 23 at 12.02.00 AM

Hackers infiltrate Monkey Kingdom NFT community, steal US$1.3M

Hackers scam 7,000 Solana, or US$1.3 million, from would-be buyers of a new NFT collection of the Monkey Kingdom project.
olympic-flag-featured, These e-CNY hard wallets might get people talking at the Winter Olympics

These e-CNY hard wallets might get people talking at the Winter Olympics

China prepares to show off its tech innovation muscles at the Beijing Winter Olympics as it unveils some unusual-looking wallets for its new digital yuan.
and
compliance on a keyboard, Will 2022 be the year of crypto regulation?

Will 2022 be the year of crypto regulation?

Global shifts are underway in crypto regulations, writes Huong Hauduc of Bequant. How might the political and market forces play out next year?
Crypto Santa’s naughty and nice list for Christmas 2021

Crypto Santa’s naughty and nice list for Christmas 2021

Who in the crypto world deserves Santa love this year, and whose chimney should be snubbed? The elves at Forkast.News help the big man with his list.
blockchain

Year in review: Top China blockchain news in 2021

China tries to stamp out Bitcoin mining while increasing its influence over blockchain technology and preparing the digital yuan for launch. What lies in store for 2022?
and
bitcoin and wallet, Why I got a Bitcoin wallet, and how it can be used for crypto gift-giving and receiving

Why I got a Bitcoin wallet, and how it can be used for crypto gift-giving and receiving

Curious to use Bitcoin but don’t know where to start? Forkast.News explains how.
The word DEFI in gold font color with silver coins

Are liquidity miners mercenary capitalists or infrastructure providers?

Liquidity mining plays a unique role in the DeFi ecosystem. How does it work?
Atlantic Council CBDC tracker map

CBDC tracker shows U.S. falling further behind

Of the Big Four central banks, including those of the EU, UK and Japan, only the Federal Reserve has not progressed beyond research mode in central bank digital currencies.
Cryptocurrency coins in sand | Japan’s SBI invests in Singaporean crypto exchange Coinhako

Japan’s SBI invests in Singapore crypto exchange Coinhako

Japan’s financial conglomerate SBI Holdings announced a joint investment in Singapore’s virtual asset exchange Coinhako with Switzerland-based Sygnum Bank. Fast facts The investment is made through a fund formed in Singapore named the SBI-Sygnum-Azimut Digital Asset Opportunity fund. SBI expressed certainty in supporting Coinhako’s international expansion and other startups that have growth potential in the […]
and
Official website of Maezawa's NFT, 'Rendezvous' | Japanese billionaire issues NFT from space

Japanese billionaire Yusaku Maezawa issues NFT from space

Yusaku Maezawa, founder of Japan’s largest online fashion retailer Zozotown, tweeted about turning a photo he took in space into a non-fungible token (NFT), saying it may be the very first NFT to be issued from space. Fast facts Named “Rendezvous,” the NFT includes a photo that Maezawa took while the Russian Soyuz MS-20 he […]
and
Golden bitcoins and South Korea flag | Spending mistakenly sent Bitcoin will not be punished: South Korea ruling

Bitcoin sent by mistake, recipient will not be punished for keeping it: South Korea ruling

An investor who received $1.25M in Bitcoin by accident will not be criminally penalized, raising questions on the legal status of cryptocurrencies.
Moderation

Does content moderation on platforms like OpenSea amount to censorship?

What are the responsibilities of blockchain companies when it comes to freedom of expression? A controversial cartoonist finds out the boundaries.
GameFi tokens and stablecoins can now be used to pay for goods and services

xSpend allows GameFi tokens, stablecoins to pay for real-world goods and services

Crypto finance platform XLD Finance wants to enable users to spend GameFi tokens and stablecoins to pay for real-world goods and services. Fast facts The company has launched its first project, xSpend, which allows users from Bangladesh, India, Indonesia, Malaysia and the Philippines to purchase mobile prepaid credits on the platform using GameFi tokens and stablecoins. Users may also pay Philippine-based […]
Jack Dorsey's Block is getting sued for trademark infringement over new name

H&R Block claims trademark infringement by Square’s new name ‘Block’

U.S.-based tax preparation service company H&R Block has filed a trademark infringement case over Square’s new name, Block. Fast facts The lawsuit states: “Block brings this lawsuit to protect consumers from being deceived and to prevent a Silicon Valley tech company from stealing Block’s name.” According to a press release from H&R Block, fintech firm […]
port of Antwerp, How blockchain can transform the global shipping sector

How blockchain can transform the global shipping sector

Blockchain promotes trust and can greatly cut transaction costs, writes Edmund To of GSBN. So why is the shipping industry still clinging to paper documents?
Ethereum

New Cosmos, Mastercard projects to boost Ethereum scalability

With Ethereum usage at all-time high, a Cosmos ‘bridge’ to other blockchains and Mastercard rollups aim to solve a major problem plaguing the Eth network.
stablecoin concept expressed as coins juxtaposed with US$1 bills

Regulators and the problem of unstable stablecoins

Federal regulators have turned their sights on stablecoins. But is the attempt to tame this digital currency too late?
presents g5de115ed8 1280

The Forkast.News guide to last-minute blockchain and crypto gift ideas

Not yet done with your holiday shopping? Here are ideas for all the loved ones on your list, whether they are tech-savvy or merely crypto-curious.
Nexon's KartRider | Game company Nexon America now accepts crypto for in-game items

Game company Nexon America now accepts crypto for in-game payments

Asia’s gaming giant Nexon’s US subsidiary supports cryptocurrencies for players in buying items inside its popular online games.
court

Court in Beijing says losses caused by crypto mining deals not protected by law

In a contract dispute case, a Beijing court in Chaoyang district on Wednesday ruled a legal arrangement for Bitcoin mining to be invalid, signaling how China’s legal system may view future crypto-related disputes. Fast facts In May 2019, the plaintiff, Fengfu Jiuxin company, signed purchases and services contracts with blockchain technology company Zhongyan Zhichuang, with the latter […]

Delivered weekly on Thursdays

The Current Forkast

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