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ROK's NFT series “Double Eleven 2021: Common Prosperity” | Photo courtesy of ROK

‘Double Eleven 2021: Common Prosperity’ — how an NFT project examines Chinese tech giants’ dominance

In a 48-second, computer-generated 3D animation, ROK uses a decentralized format to offer an ironic take on China’s internet giants crowding to host the shopping holiday.
Seoul District Court | South Korean court holds crypto exchange liable in hacking case

South Korean court favors investors in crypto-hacking lawsuit against exchange

The Seoul District Court made an unprecedented ruling in favor of investors who lost their virtual assets in a hacking incident at crypto exchange Coinrail. Fast facts On Wednesday, the court ruled that Linus Co., the operator of the Coinrail exchange, needs to pay the plaintiffs 380 million Korean won (about US$320,000). The plaintiffs, consisting […]
China patent

For China, quantity of blockchain patent applications not necessarily quality: report

The greatest number does not mean the greatest significance, analytics firm PatSnap says.
and
Philadelphia city joins Miami and NYC in blockchain ambitions

Philadelphia joins Miami, NYC in city government blockchain ambitions

Inspired by Miami’s launch of a city token — MiamiCoin — Mark Wheeler, the city of Philadelphia’s chief innovation officer, announced an initiative to bring blockchain and Web 3.0 technology to city governance. Fast facts Wheeler is currently conducting a discovery process to hold conversations with blockchain and Web 3.0 technology developers to understand the […]
Kazakhstan

Kazakhstan’s legal crypto miners won’t face power restrictions: energy minister

While Kazakhstan — a popular destination for Chinese crypto miners as they look for more regulation-friendly shores — continues to face power shortages, the country’s energy minister has said the authority will not restrict power consumption for legal crypto miners, according to a government statement. Fast facts Magzum Mirzagaliyev, Kazakhstan’s minister of energy, said at […]
FinTech in ASEAN 2021 report

Funding in crypto firms in Southeast Asia surges over 400% in 2021

Amid rising retail and institutional investor interest in cryptocurrencies like Bitcoin and Ethereum, investments poured into crypto firms in Southeast Asia in the first nine months of 2021 surged by over 400% compared with full year 2020 to US$356 million, according to the FinTech in ASEAN 2021 report by UOB, PwC Singapore and the Singapore […]
SEC halts token registration of America's first legal DAO

SEC halts token registration of America’s first legal DAO

The U.S. Securities and Exchange commission halted the token registration of American CryptoFED, the first legally recognized decentralized autonomous organization in the U.S. Fast facts Wyoming-based American CryptoFED became the first DAO in the U.S. to achieve legal status in July after Wyoming passed a law that recognized DAOs as limited liability companies. A DAO […]
Evergradne

Crypto markets shudder as Evergrande fears re-emerge

As speculation continues over the fate of the Chinese property development giant, crypto markets were not spared the downturn over fears of its potential collapse.
Ripple launches liquidity hub

Ripple to launch ‘game-changer’ liquidity hub amid XRP legal battles with SEC

Trying to move beyond XRP, Ripple hopes its customers will join RippleNet with a wallet that supports fiat and other cryptos like Bitcoin and Ether.
blockchain, satellite, AI

Cambridge Centre for Carbon Credits to build carbon credit marketplace on Tezos blockchain

World leaders at the COP26 climate summit this month promised to end deforestation by 2030. But significant challenges to achieving the goal remain to be overcome. The Cambridge Centre for Carbon Credits, based at the University of Cambridge, this week launched with the goal to build a decentralized marketplace of verifiable carbon credits to support […]
Circle sets up regional hub in Singapore

USDC stablecoin issuer Circle sets up regional hub in Singapore, launches Circle Ventures

Circle, the digital payment company that operates the USD Coin (USDC) stablecoin, this week announced it is setting up a regional hub in Singapore and looking to partner with local businesses for its stablecoin Lighthouse Project. Fast facts U.S.-based Circle says its move into Singapore is part of its global expansion plans and the company […]
Beeple

Beeple’s first physical artwork sells for $29M at auction

The digital artist who helped launch the non-fungible token craze earlier this year, Beeple, has sold his first physical artwork and accompanying NFT for US$28.9 million at a live Christie’s auction in New York on Tuesday night. Fast facts Beeple’s first physical work “Human One” is a seven-foot-tall box with LED screens on each side […]
golden bitcoins of new digital money on banknotes 2021 09 03 12 19 35 utc

Double-whammy U.S. inflation news sends Bitcoin flirting with US$69,000

Within minutes of reports showing U.S. consumer prices rising and weekly wages falling, Bitcoin surged on inflation fears.
mining panel

Bitcoin mining is ‘infinitely sustainable,’ says Blockstream executive

Panel explores sustainability issues surrounding the energy-intensive industry at Bitcoin & Beyond Virtual Summit.
Golden Bitcoins and South Korea flag | S. Korea’s finance minister still believes in 20% crypto tax for 2022

South Korea’s finance minister still believes in 20% crypto tax for 2022

Despite movement from both the ruling Democratic Party and the conservative party to delay the 20% virtual asset gains tax, South Korean finance minister still thinks it should start as planned for Jan. 1, 2022.
Bitcoin and Beyond conference, The media's role in driving growth in crypto

The media’s role in driving growth in crypto

Panel looks at best practices in news coverage from Decrypt Media, CoinDesk, South China Morning Post.
Angie Lau, Sheila Warren, Perianne Boring, Sam Bankman-Fried

Why the crypto industry needs compromise and education

FTX founder and CEO Sam Bankman-Fried says building products that people want is what matters most, and the crypto industry and regulators will need to find compromises to resolve some of the industry’s pressing issues.
Indian crypto bill could be introduced in the parliament this month

Middle-ground India crypto bill could be introduced this month

The Indian government is looking to introduce a cryptocurrency bill in the winter session of parliament in a bid to “fast track” regulation of a rapidly growing ecosystem, CNBC-TV18 reported. Fast facts India first drafted a bill to ban all cryptocurrencies in the budget session of 2021, but it was never tabled for discussions. Officials […]
Discord

Discord CEO hints at integration with Ethereum to mixed response

Co-founder and CEO of popular social media platform Discord, Jason Citron, has hinted at integration with Ethereum via wallets such as MetaMask by tweeting a screenshot of Discord connecting to the world’s number two blockchain along with the caption “probably nothing.” Fast facts It came in response to another tweet by writer Packy McCormick, which […]
BitMEX CEO expects 5 to 10 countries to adopt Bitcoin by next year

BitMEX CEO expects 5 to 10 countries to adopt Bitcoin by next year

While El Salvador carved out its place in history as the first country in the world to adopt Bitcoin as legal tender, there are others that may follow for an array of reasons.
Screen Shot 2021 11 09 at 12.22.46 AM 1

What is the future of crypto and DeFi regulations?

From China’s crackdowns to El Salvador’s Bitcoin adoption, where is the world headed in how governments regard crypto? An expert panel explores the future of decentralized finance in the global economy.
Tim Cook

Apple boss Tim Cook says he owns cryptocurrency

Apple CEO Tim Cook has revealed that he owns cryptocurrency during a discussion yesterday at the New York Times’ Dealbook conference, responding to a question as to whether he owned either Bitcoin or Ethereum. Fast facts While he did not reveal which cryptocurrencies he held, the tech boss said in an interview with Andrew Ross […]
Singapore skyline

Crypto exchange Huobi to stop serving Singapore-based customers

Cryptocurrency exchange Huobi Global will stop serving Singapore-based customers from March 31, 2022 to comply with Singapore laws, according to a company announcement on Nov. 9. Fast facts “To comply with the laws of Singapore, we will have to include Singapore as a restricted jurisdiction. Regrettably, this means Huobi Global can no longer offer services […]
Coinbase. | Coinbase reports growth in Q4 earnings despite decline in users

Coinbase reports 75% drop in Q3 profits — despite SHIB listing

The largest U.S.-based cryptocurrency exchange, Coinbase, earned just US$406 million net income in Q3 this year — a 74.7% decline over the previous quarter — according to the company’s investor earnings report released yesterday. Fast facts That figure represents a 500% increase over Q3 last year, but is significantly less than the US$1.6 billion in […]
Screen Shot 2021 11 08 at 11.52.06 PM

United we stand: crypto experts debate tribalism

Crypto is ‘a behavioral economics experiment,’ says Real Vision co-founder Raoul Pal. ‘Your incentive system is not a like button on Facebook, it’s money.’
SM Entertainment's metaverse-themed K-pop group, aespa | SM Entertainment to utilize NFTs for attracting fans into their metaverse

SM Entertainment to invite K-pop fans into their metaverse through NFTs

One of South Korea’s largest entertainment agencies, SM Entertainment, plans to create future content under its SM Culture Universe (SMCU) metaverse in NFTs — according to its founder Lee Soo-man at Solana’s Breakpoint 2021 conference. Fast facts Lee said SM’s own metaverse, the SMCU, needs to be a place for creation where K-pop prosumers can […]
Bitcoins in sand, how are institutional adoption and the recent events impacting Bitcoin mining

How is the launch of Bitcoin futures ETFs affecting crypto mining?

After the SEC approved a Bitcoin futures ETF, the cost of crypto mining rigs jumped. Coincidence? Varit Bulakul of The Brooker Group explains.
Stefan Rust and Brittany Laughlin

Unlocking the power of Bitcoin through smart contracts

As Ethereum has become the preferred blockchain for smart contracts, what’s the future of the Bitcoin blockchain?
Screen Shot 2021 11 08 at 11.58.38 PM

Thinking big: Blockchain paradigm shift may upend the social contract

Trust, data privacy and job elimination are some of the challenges that society will face as blockchain ushers in Web3.0, according to Don Tapscott.
Cryptocurrency coins on dark background, what is driving the digital asset surge in 2021.

3 themes driving institutional adoption of digital assets

What makes 2021’s roaring crypto market different from 2017’s are the banks and VCs piling in, writes Calvin Shen of Hex Trust. What’s behind their crypto adoption?
Growth in number of active exchanges by business model

Crypto exchange industry consolidating as DEXes surge in popularity

The highly competitive cryptocurrency exchange industry appears to be consolidating, according to blockchain analytics provider Chainalysis as part of its Competitive Landscape Report that will be released next week. Fast facts The number of active cryptocurrency exchanges peaked at 845 in August 2020 and stood at 672 as at August 2021, Chainalysis reported. The exchanges […]
Real Vision co-founder and CEO Raoul Pal and Ethereum creator Vitalik Buterin at the Singapore FinTech Festival 2021

Vitalik Buterin: How DeFi, NFTs and DAOs are building a value exchange layer for Web 3.0

Speaking at the Singapore FinTech Festival, Ethereum’s creator discusses DeFi adoption and why he expects Ethereum’s ‘killer ecosystem’ to grow over the next few years.
Ethereum Rallies After First Quarter Slump

Ethereum drives crypto comeback as US tax fears leave market unfazed

Top blockchain and crypto news: Ethereum rises and rivals follow. Taxing times for US investors. New life for reborn crypto miner.
shipping containers sailing on the sea, Companies from China, Australia, Japan, and Saudi Arabia Start a Blockchain Platform for Energy and Metal Trading

Companies in China, Australia, Japan, Saudi Arabia start blockchain platform for energy, metal trading

Amid the global energy crisis, nine companies from four countries — China, Japan, Australia and Saudi Arabia — announced they will jointly build a blockchain documentation platform to speed up customs clearance and cargo delivery to trade the commodities of energy, chemical products and metal. Fast facts Platform participants includes Sinochem Energy, Mitsui.Co, Macquarie CGM, Saudi […]
MAS Ravi Menon

How Singapore is looking at Web 3.0 and DeFi as it prepares for a digital Singapore dollar

Speaking at the Singapore FinTech Festival, Singapore central bank chief Ravi Menon announces the launch of Project Orchid, a digital dollar project.
Affinidi-Finnovate

Temasek-founded Affinidi launches new business unit to bring Web 3.0 to financial services to Southeast Asia

Affinidi, a Singapore-based technology company founded by state-owned investment firm Temasek, today announced the launch of a new business unit called Finnovate that aims to serve millions of underbanked individuals and small and medium enterprises across Southeast Asia by leveraging on Web 3.0 blockchain technologies. Fast facts Affinidi Finnovate is partnering with the financial services […]
Bukele Bitcoin

Will El Salvador’s lead on Bitcoin inspire others to follow suit?

The Central American nation is the first to adopt Bitcoin as legal tender. As many countries face similar issues of large unbanked population and high remittance fees, will others follow suit?
BlockFi files for Bitcoin spot ETF with the SEC amid regulatory heat

BlockFi files for Bitcoin spot ETF with SEC amid regulatory heat

New Jersey-based crypto banking services provider BlockFi and investment management firm Neuberger Berman jointly filed for a Bitcoin spot exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission on Tuesday. Fast facts In September, the U.S. got its first Bitcoin-linked ETF with the launch of ProShares Bitcoin Strategy Fund. But ProShares’ ETF was backed […]
cryptocurrency trading

Crypto funds see record $8.9B investment inflows so far this year

Signaling increased confidence in the future of digital assets, cryptocurrency investment products saw institutional investment inflows of US$174 million last week — the 12th consecutive week of inflows — bringing year-to-date inflows to a record US$8.9 billion, according to digital assets manager CoinShares. Fast facts Institutional investment into crypto products have surged this year with […]
BTC/ETH

Bitcoin and Ethereum prices soar to new all-time highs, crypto market now worth $3 trillion

BTC and ETH are surging to dizzying new heights today as part of a broader crypto market rally. What’s going on?
cityscape of manhattan empire state building in 2021 08 29 09 02 17 utc

CityCoins announces debut of NYCCoin

Before the crypto-enthusiastic mayor-elect has been sworn in, a grassroots effort announces it will launch a Bitcoin-backed token to support the city.
Mastercard partners Amber Group, Bitkub and CoinJar to launch crypto-linked payment cards

Mastercard joins Amber Group, Bitkub and CoinJar to launch crypto payment cards

Mastercard has partnered with three crypto companies in Asia Pacific — Hong Kong-based Amber Group, Bitkub in Thailand, and CoinJar in Australia — to launch crypto-funded payment cards, according to a Nov. 8 media statement. Fast facts The three companies are the first APAC-based cryptocurrency platforms to join Mastercard’s global Crypto Card Program, which enables […]
gibraltar

Huobi migrates spot trading services to regulated entity in Gibraltar

Cryptocurrency exchange Huobi Global, which obtained a distributed ledger technology license from the Gibraltar Financial Services Commission in 2018, will be migrating its spot trading services to the regulated entity in Gibraltar (“Huobi Gibraltar”), the company announced today. Fast facts Huobi has received approval from the Gibraltar Financial Services Commission to migrate its cryptocurrency spot […]
Hong Kong

New Hong Kong youth association hopes to nurture ‘patriotic fintech talents’

The city’s disaffected post-protest youth and recent statistics suggest a brain drain in the city’s future.
Beijing metaverse

Beijing budgets $37M for government affairs blockchain platform

China’s capital city, Beijing, is  inviting public tenders on a project to build a blockchain platform and computing center for government affairs with a total bidding price of 242 million yuan (approximately US$37.8 million). Fast facts The bidding project, “Beijing Municipal Experimental Blockchain Platform,” is for storing residents’ and city facility’s information and dealing with […]
blockchain concept, What are the digital assets powering the DeFi revolution

What are the digital assets powering the DeFi revolution?

Digital assets are disrupting financial services in ways not seen since the Middle Ages, writes Alex Tapscott of Ninepoint Partners. Here is the taxonomy for the future of finance.
mining

Chinese edtech company pivots to crypto mining amid China’s clampdown on tutoring

As China continues to crack down on the private tutoring sector, one education-tech company has decided to pivot into blockchain and cryptocurrency mining. Fast facts Nasdaq-listed Meten Holding Group, which officially changed its name from Meten EdtechX Education Group in August, has moved forward with plan for the new business venture in the crypto world, […]
south korea flag waving against cloudy sky 2021 09 01 07 29 52 utc

South Korean regulator confirms that NFTs are not virtual assets

The country will follow global crypto guidelines in excluding non-fungible tokens (NFTs) from its categorization of virtual assets — meaning income from NFTs may remain untaxed in Korea.
Ethereum sets new all-time high again as crypto market cap nears US$3 trillion

Ethereum sets new all-time price high as crypto market cap nears $3 trillion

Ethereum reached a new all-time price high of US$4,766 earlier today, flying past its previous all-time high record of US$4,634 set five days ago, according to CoinGecko data. Fast facts The world’s second-largest cryptocurrency by market value has been on a record run since late last month. On Oct. 28, Ethereum’s price climbed to US$4,416 for the first time. The […]
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hashport validator partners

hashport launches to power cross-network digital asset transfers

hashport, a public utility that facilitates the movement of digital assets between distributed ledger technology networks without the need for a native network token, today announced that it will launch on Nov. 9, according to a media statement. At launch, hashport will connect the Hedera public distributed ledger to the Ethereum and Polygon networks. Fast […]
decentralized network concept, Challenging the status quo: Why we need decentralized systems

Disrupting the status quo: Why the world needs decentralization

The familiarity of centralized systems may feel comforting, but decentralized technologies like blockchain are the wave of the future, writes Corey Petty of Status.
Solana Ventures, Lightspeed Venture Partners and FTX logos, man playing game on computer

Solana Ventures, Lightspeed Venture Partners and FTX partner to invest $100M in Web3 gaming

Solana Ventures, Lightspeed Venture Partners and cryptocurrency exchange FTX today announced that they are partnering to invest US$100 million on gaming studios and projects building on the Solana blockchain. Fast facts “Gaming has a massive opportunity to bring the next billion users to Web3,” said Amy Wu, partner at Lightspeed Venture Partners, in a statement. […]
a man who wears a VR glasses, Chinese companies rush to register metaverse-related trademarks

Chinese companies rush to register metaverse-related trademarks

Chinese companies are in a craze for trademark registrations related to the metaverse, and Baidu and NetEase are the latest tech giants to register such trademarks. Fast facts According to the QiChacha, a website where you can search for information about Chinese company information, shows that NetEase has applied for three trademarks with the metaverse: […]
Solana

What Solana prices will be at the end of 2021 and beyond

As Solana surges to new all-time highs, 50 fintech experts surveyed by Finder offer predictions on SOL’s price outlook for the end of the year and longer-term.
IMG 0686

Goldman Sachs executive says tokenization redefines liquidity transaction

The traditional financial industry is getting its feet wet in tokenization of assets, and there’s an influx of interest in the private asset space, as Mathew McDermott, managing director of Goldman Sachs, said today at a Hong Kong Fintech Week panel moderated by Angie Lau, editor-in-chief and founder of Forkast.News. Fast facts McDermott said Goldman […]
mBridge-panel at hong kong fintech week 2021

Asia-Middle East multiple CBDC bridge builds out business use cases for international payments

22 private sector finance heavyweights together with the BIS and central banks of China, Hong Kong, Thailand, and UAE aim to achieve a production-ready international trade settlement platform using CBDCs.
Canaan

Crypto mining rig maker Canaan sues two Chinese tech companies over patent infringement

Canaan is seeking $14 million in alleged losses from Shenzhen HighSharp Electronic Technology and Sichuan Yinbimei Technology.
IPO bound PayTM may launch crypto services if legalized

IPO-bound Paytm may launch crypto services if legalized in India

India digital payments giant Paytm will consider launching crypto-related services if it becomes a regulated asset class in the country, Paytm CFO Madhur Deora told Bloomberg TV on Thursday. Fast facts “Bitcoin is still in a regulatory gray area, if not a regulatory ban in India,” Deora said. “If it [Bitcoin and other cryptocurrencies] was […]
Metaverse

Fashion, art, games and community: What does a decentralized metaverse mean for you?

The idea of the metaverse has gone from the realm of science fiction to the latest business model of major companies from Facebook to Nike. What do metaverses powered by blockchain look like, and why is there so much interest in Decentraland?
Singapore skyline with DBS Bank building

DBS’ digital assets under custody surge 200% in Q3, bank to scale up digital exchange

DBS Bank — Southeast Asia’s largest lender — intends to scale its crypto exchange as it invests in blockchain and wants to be nimble to adapt to how DeFi evolves.
Neobank Revolut is building its own crypto exchange

Neobank Revolut looks to build its own crypto exchange

London-headquartered fintech startup Revolut is looking to build its own crypto exchange, according to a new job posting. Fast facts The selected candidate will lead neobank Revolut’s “technical team to architect and build Revolut Crypto exchange,” the job posting says. The candidate will need experience in building order matching engines, like those used on crypto […]
Untitled design

Miami and NYC leaders vie for crypto-mayor title

The bell has rung on the friendly, post-Election Day competition between leaders of two major American cities for who will be the crypto-friendliest mayor of all.
Bitcoin fuel

The Bitcoin-energy connection intensifies

Equities and Bitcoin have a clearly demonstrated bond, but now oil is strengthening its relationship to crypto, too
Solana ecosystem October

What is the Solana ecosystem and how is it fueling SOL’s stratospheric rise?

Solana prices keep cresting to new heights, making SOL a top-five cryptocurrency by size. What makes Solana and its ecosystem stand out? Forkast.News explains.
Serum Markets Analytics dashboard

Aleph.im launches Serum Markets to provide DeFi trading data on Solana

Project Serum, a decentralized exchange on the Solana blockchain, has seen its total value locked (TVL) more than double over the past month to US$2.468 billion, according to data from a new Serum Markets Analytics dashboard launched today. Fast facts Solana — a high performance blockchain and alternative to Ethereum — has been gaining ground […]
South Korea's Ruling Democratic Party Presidential Candidate Lee Jae-myung | Lee Jae-myung considers setting up a government unit for virtual assets

South Korea presidential candidate mulls a virtual assets government unit

Lee Jae-myung, the ruling Democratic Party’s candidate for the upcoming presidential election in South Korea, may include in his election pledges setting up a government sector dedicated to supervising the virtual asset industry. Fast facts It is reported that Lee is considering including a plan in his presidential campaign to set up a unit similar […]
file folders with words of compliance and regulations, Why progressive DeFi regulation will lead the next economic revolution

How DeFi regulation can propel the next economic revolution

DeFi is here to stay, but regulations are still lacking. Jason Blick of EQIBank explores the challenges and how authorities can move forward.
BTS

K-pop sensation BTS gets ready to sell NFTs, as label looks to cash in on loyal A.R.M.Y fanbase

BTS’ label dreams bigger than just dominating the K-pop world — they want to digitize the IP even more.
Kakao Game's mobile golf game, Friends Shot | South Korean IT firms race toward the metaverse

South Korea’s Kakao, Com2uS, others race toward the metaverse

Information Technology (IT) firms in South Korea set up shop in the realm of the metaverse, with their first step being non-fungible token (NFT) platforms.
police

Chinese police raid what may be the nation’s first e-CNY money-laundering case

Police crack a tele-fraud case related to digital yuan money laundering, potentially thanks to the CBDC’s ‘managed anonymity’ feature.
Solana hits new ATH

Solana hits new ATH, briefly overtakes Tether as 4th-largest cryptocurrency

The price of Solana (SOL), the native cryptocurrency of the high-performance proof-of-stake Solana blockchain, hit a new all-time high US$245.69 this morning Asia time and briefly overtook Tether as the fourth-largest cryptocurrency by market value, according to CoinGecko data. Fast facts Solana’s price surge comes ahead of the inaugural Breakpoint conference organized by the Solana Foundation, which will […]
Jerome Powel

Federal Reserve to taper bond purchases, prompting concerns over BTC impact

As the U.S. economy shows signs of recovery from the pandemic-related recession, the Federal Reserve has announced it will begin tapering the US$120 billion a month it spends on bond purchases, hoping to address concerns of rising inflation. This has caused unease in the crypto industry as Bitcoin adoption over the past 18 months has […]

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