Forkast.News is now Forkast Labs
Binance logo seen through magnifying glass

Binance challenges CFTC’s global reach in legal clash

Binance hits back at CFTC, stating U.S. laws can’t police global crypto operations; claims Binance.US operates separately.
Bitcoin ETF | SEC accepts BlackRock’s Bitcoin ETF application for review | ETF, BlackRock, U.S., BTC-Bitcoin, Regulation & Law

Bitcoin ETF fever sends BTC to heights not seen since May 2022

As Bitcoin breaks past $35,000, optimism brews in the crypto market. Is this the end of the prolonged ‘crypto winter’ investors have dreaded?
North America retains crypto crown even as US regulatory clouds loom Chainalysis

North America retains crypto crown even as US regulatory clouds loom: Chainalysis

The United States is the region’s top driver of crypto activity.
Astar Network logo

Astar, Startale Labs announce Web3 partnership with Japanese telecom giant, KDDI 

Astar Network and Startale Labs partner with Japanese telecom giant KDDI to boost Web3 adoption.
Chinas central bank to ‘resolutely curb crypto speculation

China’s central bank to ‘resolutely curb’ crypto speculation; Hong Kong updates regulations

PBOC to crack down on crypto speculation, as Hong Kong restricts access to certain “complex” virtual asset products.
Coins.ph logo

Philippines’ Coins.ph may have lost US$6 million worth of XRP in hack: The Block

Coins.ph, a cryptocurrency exchange based in the Philippines with millions of users, appeared to have lost 12.2 million XRP tokens, The Block reported on Friday.
Paypal/Visa/Scwab/Goldman Sachs/BlackRock/Fidelity International/Abrdn logos

Is TradFi’s entry into DeFi a turning point or a sign of greater battles ahead?

The pillars of Wall Street are muscling their way into crypto and decentralized finance. Who stands to benefit the most?
Bitcoin Ethereum NFT

Bitcoin briefly rallies above US$30,000 following Grayscale’s new ETF application

Bitcoin gained over 10% this past week, boosted by Grayscale’s renewed spot Bitcoin ETF application.
Binance

Binance says it signed agreements with new euro banking partners 

Binance announced it has secured new fiat partners for euro services after its former partner cut ties with the exchange last month.
Hand holding up closed sign

LBRY shuts down operations

LBRY issued a final goodbye to the crypto community before winding down operations.
SEC chairman Gary Gensler | FTX sues LayerZero Labs to recover US$21 million

SEC drops all charges against Ripple’s CEO Garlinghouse and co-founder Larsen

The XRP token rose over 6% on the day after the SEC dismissed the charges against Ripple’s top executives.
SBF trial

Prosecution winds up case against Bankman-Fried ahead of six-day pause in trial

FTX’s former general counsel Can Sun testified he was “shocked” by $7 billion in missing customer funds as the prosecution’s case starts to draw to a close.
Bitcoin ETF | SEC accepts BlackRock’s Bitcoin ETF application for review | ETF, BlackRock, U.S., BTC-Bitcoin, Regulation & Law

Grayscale files for new spot Bitcoin ETF on NYSE Arca

Grayscale said that its fund is ready to operate as an ETF upon regulatory approval.
Gemini Falling stars

Gemini, Genesis, DCG sued by New York Attorney General

The lawsuit alleges that the companies defrauded over 230,000 investors.
The Wallet Wars logo visible on a black background

Wallet Wars’ raW Pass NFTs sells out in 5 minutes

Wallet Wars, a Space Invaders-inspired game with a Web3 twist: upgradeable NFT spaceships.”
Coinbase logo

Coinbase taps Ireland as European hub ahead of MiCA regime

Coinbase said that the regulatory clarity MiCA provides to the industry is “hugely welcome.”
Binance Japan Bitcoin ETF

Binance’s rollercoaster week: expansion, setbacks, and the ghost of FTX’s collapse

Top blockchain and crypto news: Is Japan a new frontier for Binance? AI art sweeps NFT sales. ETF buzz electrifies Bitcoin.
Single Bitcoin cryptocurrency on a silver through gold metallic gradient background lying face up in the centre

Lightning Labs to enable stablecoins on Bitcoin ecosystem with Taproot Assets

Taproot Assets will “accelerate the process of bringing Bitcoin to those billions of people,” according to Lightning Labs.
digital euro

ECB to kick off digital euro preparation phase on Nov. 1

The central bank said that the preparation phase is not a decision on the issuance of a digital euro.
israel-and-palestine-conflict-or-war-situation-ref-2022-11-02-16-22-02-utc

OFAC sanctions Gaza-based crypto exchange allegedly linked to Hamas

The U.S. takes action against 10 Hamas-linked entities, including Gaza-based money transfer business and crypto exchange Buy Cash.
By royal decree — the UK moves toward regulating crypto

UK emerges as world’s third-largest economy in terms of crypto transaction volume: Chainalysis

The U.K. is also listed as the 14th economy on Chainalysis’ Global Crypto Adoption Index.
Hong Kong

Over 40% of Hong Kong investors shun digital assets post-JPEX Scandal, survey reveals

The survey aimed to measure the public attitude towards virtual asset investments, following the JPEX incident.
Image of a smartphone displaying the Trust Wallet application's earn page.

Trust Wallet’s TWT up 7%, leads top 100 cryptos in gains

TWT price rose over 15% during the past week, after Trust Wallet announced a major rebranding upgrade.
Sui network

SUI Foundations denies supply manipulation allegations

SUI fell to a new all-time low on Wednesday following supply manipulation allegations, which the Sui Foundation denies.
A huge euro logo is seen in front of the headquarters of the ECB in Frankfurt, Germany.

EU adopts new crypto tax rules, mandate data sharing from crypto firms

The new data sharing rules will go into effect 20 days after their publication in the Official Journal.
scam

Rampant scams highlight critical need for greater crypto literacy

The plight of the Philippines — which has a high rate of crypto adoption but is also plagued by fraud — offers a window into why the industry’s ‘do your own research’ mantra isn’t enough.
FTX Founder Sam Bankman-Fried. | Former FTX executive Nishad Singh negotiating guilty plea on fraud charges: Bloomberg

FTX top lieutenant Nishad Singh bought US$3.7 million house after learning about the exchange’s misuse of customer funds

Nishad Singh testified he bought a house a month before FTX’s collapse despite learning of the exchange’s misuse of customer funds weeks prior.
Fractionalized NFTs

Traders split from Blur for fractionalized NFTs

As the NFT tide shifts, traders seek new horizons. While Blur and OpenSea grapple with change, SoFi and fractionalized assets emerge as the next big wave.
israel-and-palestine-conflict-or-war-situation-ref-2022-11-02-16-22-02-utc

Binance freezes over 100 accounts on Israeli police request: Financial Times

Israeli police requested information on 200 additional crypto accounts.
Binance

Binance.US suspends USD withdrawals

Users can still withdraw cryptocurrencies, according to the exchange’s updated terms of use.
Young man holding XRP Ripple coin in hand with green bush in background - Cryptocurrency and Digital asset concept

XRP support for Roblox “inaccurate”: Decrypt 

Correction: This article originally stated that the XRP cryptocurrency is available for in-game payments in Roblox and Smite through the payment processor BitPay. Roblox has denied the report and BitPay has since deleted its announcement on X. Roblox, a popular online game with an average of 65.5 million daily active users, has denied claims that […]
japanese cherry blossom tree along a scenic view

Binance Japan — death knell or savior for the nation’s smaller crypto exchanges?

Few tokens and too many exchanges are a bad recipe for Japan’s smaller crypto trading houses. The experts say there’s room for up to five only. So what happens to the little guy now that the world’s largest exchange Binance has rolled back into town?
OSL logo and Hong Kong skyline | Hong Kong's OSL Asset Management obtains license to invest in blockchain and AI | sfc hong kong crypto license regime

OSL exchange’s HK$1 billion sale is “factually inaccurate,” says BC Technology

OSL’s parent firm said investors should exercise caution due to the “unusual movement” in the company’s stock price.
Binance logo

Binance halts new user registration in the U.K.

The exchange added that it will also stop releasing new products and services in the country.
Coins with bitcoin symbol on red light and crypto stocks chart background. Concept of a cryptocurrency market crisis.

Fake BlackRock ETF news prompts US$57 mln in Bitcoin long liquidations

Bitcoin briefly spiked to US$29,388 after the fake post, before tracing back the gains.
SBF

FTX exec Nishad Singh testifies on Bankman-Fried’s ‘excessive’ and ‘flashy’ spending

FTX co-founder Nishad Singh testified on Bankman-Fried’s “excessive” spending including political donations coordinated in a group chat titled “Donations Processing.”
Nearly half of Tether reserves are now in US Treasury bills

Tether freezes 32 addresses related to terrorism in Israel and Ukraine

Tether says it froze US$873,000 in USDT linked to terror activities in Israel and Ukraine. CEO Ardoino stresses crypto’s traceability.
Solana, What is the Solana ecosystem and how is it fueling SOL’s stratospheric rise

Solana Foundation partners with DMCC Dubai

The SOL token rose over 5% in the 24-hour after the partnership was announced.
Binance logo is displayed on a screen

Binance: One year on from FTX’s downfall

Inside the world’s largest crypto exchange’s annus horribilis.
A red Ferrari 296 GTB parked in a white parking lot.

Ferrari starts accepting crypto payments in the US

The luxury car maker said it started accepting crypto payments due to popular demand from its crypto investor customers.
Bitcoin and DeFi

A Bitcoin ETF is coming to the US. Here’s what to expect when that happens

A spot Bitcoin ETF will allow BTC be easily tradeable without the headaches and pitfalls of self-custody. Its arrival — likely just around the corner — will mark the moment crypto goes mainstream.
Merlion statue fountain in Merlion Park and Singapore city skyline at night.

Upbit Singapore receives in-principal license from MAS

Singapore’s major payment institution license will enable Upbit to continue offering regulated digital asset services while awaiting its full license.
Sydney, Australia

Australian Treasury to release crypto draft legislation by 2024 

The Australian Department of the Treasury said it will accept feedback on the draft bill by December.
Tether coin

Tether appoints Paolo Ardoino as new CEO

Ardoino takes Tether’s helm after serving as the USDT stablecoin issuer’s chief technical officer since 2017.
Mastercard plastic electronic credit cards macro close up. ISTANBUL, TURKEY - February 2022.

Mastercard’s Ciphetrace VP discusses decade-long maturation of cryptocurrency

Crypto is “part of the future,” said Melissa Wisner, vice president of crypto risk at Ciphertrace, during her panel discussion at D3 Bahamas.
D.C. Court of Appeals greenlights Grayscale’s bid for Bitcoin ETF

Weekly Market Wrap: Bitcoin falls below US$27,000 following CPI and Israeli conflict

Bitcoin was subdued by the mounting geopolitical concerns around Israel’s war with Hamas and the ongoing FTX lawsuit.
Former FTX Founder And CEO Sam Bankman-Fried's Trial Continues In New York

Caroline Ellison told Alameda Research about FTX user deposits last November: Cointelegraph

Alameda Research reportedly did not know about the misuse of FTX user deposits until last November.
FTX, authorities investigate potential US$477 mln theft

Russian hackers may be behind FTX hack: Elliptic

The research firm said that on-chain data point toward Russian hackers, instead of the previously-suspected North Korean Lazarus Group.
cryptocurrency coins and tokens

Bitcoin slightly dips following U.S. CPI report

With the U.S. CPI holding steady and predictions favoring unchanged Fed rates, Bitcoin remains resilient.
Gaza tensions, digital tremors, NFTs are not dancing in September, Joe Lubin talks traditional system’s twilight.

Israel-Palestine crisis: Navigating the intersection of conflict, aid and blockchain

Top blockchain and crypto news: Gaza tensions, digital tremors, NFTs are not dancing in September, Joe Lubin talks traditional system’s twilight.
Japan crypto tax

Japanese yen-backed digital currency set to launch next July

The DCJPY could play a central role in the future’s currency system, according to DeCurret Holdings.
Coinbase advertisements in Time Square

Coinbase Q3 trading volume drops 52% from last year

The current crypto bear market caused Coinbase’s trading volume to drop to levels not seen since 2020.
Philip Davis, the Prime Minister of the Bahamas, during the D3 Bahamas event

Digital assets are here to stay, Bahamas prime minister says

Bahamian Prime Minister Philip Davis said the island nation will continue to be a pioneer in the digital asset space.
From left to right: Forkast Editor-in-Chief Angie Lau, Bahamas Securities Commission Executive Director Christina Rolle, and Hogan Lovells Partner John Salmon in a panel discussion at D3 Bahamas

FTX collapse helped the evolution of crypto regulation, says Bahamas securities regulator

FTX’s collapse and the crypto winter helped regulators familiarize themselves with the rapidly evolving crypto industry, said Christina Rolle of the Bahamas Securities Commission.
Catherine Ellison

Sam Bankman-Fried planned to raise money from Saudi crown prince, Ellison testifies

Caroline Ellison details how Sam Bankman-Fried planned to raise capital from Saudi Crown Prince Mohammed Bin Salman as FTX struggled to repay lenders.
DeFi word and gold coins

ESMA says DeFi can bring greater financial inclusion, but warns of volatility risks

The regulator said that DeFi doesn’t pose a risk to financial stability, due to its small size, but said it needs to be monitored in the future.
Ethereum falls to the ground as NFT sales plunge. User watches the apocalyptic fall.

Ethereum NFT production falls to all-time low in September

NFT production on Ethereum fell to an all-time low in September, as the floor prices of blue-chip NFT collections continued their decline.
BlackRock

BlackRock shares go digital on JPMorgan’s Onyx blockchain

JPMorgan’s Onyx blockchain showcased near-instant collateral transfer in BlockRock’s tokenized share transaction with Barclays.
Coins.ph and Circle partnership

Philippines Coins.ph partners with Circle for USDC remittances

Coins.ph joins forces with Circle to introduce USDC remittances, targeting a more efficient and affordable money transfer solution for millions of Filipinos abroad, supporting the UN’s goal of trimming remittance costs by 2023.
Hata David Low CEO Malaysia

Malaysia grants Hata in-principle approval to operate digital asset exchange

The Malaysian Securities Commission has given crypto firm, Hata, a conditional approval to operate a “digital asset exchange” with a “digital broker” license.
Binance CEO Changpeng Zhao. Image: Binance

Brazilian congressional committee calls for Binance CEO Zhao’s indictment 

The congressional committee accused Changpeng Zhao and three other executives, along with 45 individuals, of running a financial pyramid scheme in the country.
NFT displayed on a smartphone

UK committee calls for tighter NFT copyright and fan token measures

The committee said fraudulent non-fungible token advertising could harm both NFT artists and investors.
Penguin financial market

Pudgy Penguins were bred for the NFT Winter

As ‘Floptober’ rattles the NFT world, Pudgy Penguins emerge as unlikely victors, spotlighting the potential of IP-focused tactics.
NFT and cash

NFTs are here to stay — just not as we once knew them

Once driven by speculation and vanity car plate-like profile images, NFTs are now becoming more useful — with value that is not captured by market prices.
Former FTX Founder And CEO Sam Bankman-Fried's Trial Continues In New York

Former Alameda CEO Caroline Ellison testifies in ex-boyfriend Sam Bankman-Fried’s trial

Caroline Ellison, Sam Bankman-Fried’s ex-girlfriend and former CEO of Alameda Research, details how the trading firm took around $14 billion from FTX customers to repay lenders.
bitmain 941 e1502991601767

Bitmain reportedly suspended employee salaries from September

Bitmain, one of the world’s largest Bitcoin application-specific integrated circuit (ASIC) manufacturers, has suspended employee salary payments from September, according to a Tuesday report by China-based tech news outlet Leiphone. See related article: Hamas crypto donation accounts frozen by Israel police Fast Facts See related article: CMCC Global raises US$100 mln to launch Hong Kong […]
Seoul, South Korea skyline at night | South Korea approves cryptocurrency bill to protect investors, goes into effect in one year

S.Korea’s crypto market rebounds in H1 but down 48.5% from 2021 close

South Korea’s cryptocurrency market has bounced back during the first half of this year but is still almost 50% below its value at the end of 2021, according to the Korea Financial Intelligence Unit (KOFIU), a government agency that oversees the nation’s anti-money laundering regime. See related article: Hamas crypto donation accounts frozen by Israel […]
Joe Lubin

Blockchain’s 2 billionth user could be an AI, says Joe Lubin

The CEO of blockchain services provider Consensys and co-founder of Ethereum spoke to Forkast at the Token 2049 crypto conference in Singapore. He discussed decentralization and what he sees as the crucial role to be played by blockchain in AI and vice-versa.
Hong Kong crypto network Mixin hacked US$200 million

Binance users in Hong Kong hooked by US$450,000 phishing attacks

The Hong Kong police warned on Monday that 11 Hong Kong-based Binance users lost over US$446,000 (HK$3.5 million) in cryptocurrencies to phishing text messages in the last two weeks. See related article: Gitcoin error sends US$460,000 to digital void Fast Facts See related article: CMCC Global raises US$100 mln to launch Hong Kong Web3 fund
Israel flag depicted in paint colors on old stone wall close up. Textured banner on rock wall background

Hamas crypto donation accounts frozen by Israel police

Israel Police’s cyber unit, Lahav 443, halts Hamas’ cryptocurrency fundraising efforts following Israeli crypto firms’ aid initiatives for war-affected citizens.
israel-and-palestine-conflict-or-war-situation-ref-2022-11-02-16-22-02-utc

Israel crypto firms launch emergency crypto fund

Crypto Aid Israel, a fund aiding war-impacted citizens, uses a multi-signature wallet for Bitcoin, Ether, and stablecoins donations.
Cryptocurrency golden bitcoin image for crypto currency | Cryptos show resilience; BNB gains on Binance Japan launch; US credit rating downgraded

Crypto investment products record highest inflows since July: CoinShares

Inflows in cryptocurrency investment products reached US$78 million last week, the highest volume since July, according to crypto asset manager CoinShares.  See related article: Alameda had a US$65 bln line of credit, says FTX co-founder Gary Wang Fast Facts See related article: DOJ seeks to block Bankman-Fried from bringing up Anthropic fundraise in court

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.