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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
bridge

Clay Nation launches Cardano-Polygon NFT bridge in The Sandbox 

Clay Nation, a project of 10,000 non-fungible tokens (NFTs), announced the launch of a new blockchain bridge for Cardano and Polygon networks in The Sandbox metaverse.  See related article: DOJ seeks to block Bankman-Fried from bringing up Anthropic fundraise in court Fast Forkast See related article: NFT creators seek alternatives after OpenSea cuts royalties
A man wearing a hoodie using laptop with green codes | German government warns of ‘Godfather’ malware targeting banking, crypto apps | crypto malware, germany crypto, crypto hack, godfather malware, godfather virus

Gitcoin error sends US$460,000 to digital void

Crowdfunding platform Gitcoin’s project lead Jonathan Miller said he accidentally sent approximately US$460,000 worth of Gitcoin tokens (GTC) to an unrecoverable contract address. See related article: DOJ seeks to block Bankman-Fried from bringing up Anthropic fundraise in court Fast Forkast See related article: SBF trial kicks off, Singapore gives crypto licenses as blockchain data comes […]
FTX founder Sam Bankman-Fried | FTX founder Sam Bankman-Fried | sam bankman fried news, bahamas, ftx

DOJ seeks to block Bankman-Fried from bringing up Anthropic fundraise in court

Sam Bankman-Fried, the co-founder and former chief executive officer of cryptocurrency exchange FTX, should be blocked from bringing up artificial intelligence firm Anthropic’s latest fundraising efforts in his defense against the U.S. Department of Justice (DOJ), prosecutors said in a court filing on Sunday. See related article: Little-known FTX co-founder Gary Wang testifies in Sam […]
Hong Kong, Singapore and Japan crypto regulation

Can Asia’s progressive regulators tame crypto’s Wild West?

The Web3 sun is shining in Hong Kong, Singapore and Japan, where forward-thinking regulations are fostering crypto’s growth while boosting investor protections.
Gary Wang and Caroline Ellison

Alameda had a US$65 bln line of credit, says FTX co-founder Gary Wang

Gary Wang, co-founder and former chief technology officer of cryptocurrency exchange FTX, testified on Friday that Alameda Research, the sister trading firm of the exchange, had a special line of credit of up to US$65 billion from FTX, that allowed the firm to spend US$8 billion of customer funds. See related article: Little-known FTX co-founder […]
D.C. Court of Appeals greenlights Grayscale’s bid for Bitcoin ETF

Weekly Market Wrap: Bitcoin falls 1.3% following U.S. jobs report

Bitcoin fell 1.3% in the hour following the U.S. jobs report, fueling market concerns that borrowing costs will remain high over a longer period of time.
Coinbase logo on a computer screen with a stack of crypto coins

Coinbase is “doubling down” on Singapore following license, says country director

The largest U.S.-based cryptocurrency exchange will be launching more products and services in the Lion City, Coinbase’s Hassan Ahmed says.
and
Illumination Preview At European Central Bank

ESMA publishes second MiCA consultation paper

The European Securities and Markets Authority (ESMA) is seeking feedback on the second consultation paper on the Markets in Crypto-Assets (MiCA) bill, published on Thursday.  See related article: Binance ICO raised less than US$5 mln: Forbes Fast Facts See related article: What Europe’s new spot Bitcoin ETF means for global markets
Image of Ledger hardware wallets on a glass table

Ledger cuts 12% of workforce, citing macroeconomic conditions

Cryptocurrency hardware wallet developer Ledger said it is cutting 12% of its workforce, according to a Thursday letter to employees by chief executive officer Pascal Gauthier. See related article: Binance ICO raised less than US$5 mln: Forbes Fast Facts See related article: Governments could access Ledger wallet private keys, says CEO
Binance logo, above three piles of golden coins

Binance ICO raised less than US$5 mln: Forbes

Binance’s 2017 initial coin offering (ICO) of its Binance Coin (BNB) reportedly raised less than US$5 million, contrary to the US$15 million claimed by the company and its Chief Executive Officer Changpeng Zhao.  See related article: U.S. SEC denied immediate access to Binance.US software Fast Facts See related article: Binance Japan partners with mega bank […]
SBF trial Wang

Little-known FTX co-founder Gary Wang testifies in Sam Bankman-Fried trial

Wang admits he implemented special privileges in the exchange’s code to enable Alameda Research to withdraw unlimited funds.
A chart depicting the fundraising across the crypto industry, from Messari.io

Crypto fundraising in Q3 lowest in three years: Messari

The amount of funds raised by cryptocurrency firms dropped to a three-year low of US$2.1 billion in the third quarter of 2023, according to a new report published by on-chain intelligence firm Messari. See related article: CMCC Global raises US$100 mln to launch Hong Kong Web3 fund Fast Facts See related article: HKEX to launch […]
Crypto trust on trial Bankman-Fried faces judgment

Crypto trust on trial: Bankman-Fried faces judgment

Top blockchain and crypto news: Spotlight on Bankman-Fried, Pudgy Penguins’ new revenue stream and Google’s Web3 goggles
Hong Kong and blockchain graphic | Hong Kong to invest US$6.37 million to spur Web3 growth | hong kong web3 web 3.0 crypto news

HKEX to launch smart contract settlement platform

Hong Kong Exchanges and Clearing Limited (HKEX) announced on Wednesday that it is implementing a smart contract upgrade to its Connect, a system that bridges Hong Kong and China’s stock markets, to enhance post-trade workflows and reduce settlement risk. See related article: SFC to monitor illegal VATP activities with Hong Kong Police Force Fast Facts […]
Hong Kong Skyline. | Singapore-based crypto unicorn Amber Group slashes Hong Kong workforce, SCMP reports

CMCC Global raises US$100 mln to launch Hong Kong Web3 fund

CMCC Global, a Hong Kong-based blockchain-focused venture capital fund, announced Wednesday that it raised US$100 million to launch the “Titan Fund.” See related article: SFC to monitor illegal VATP activities with Hong Kong Police Force Fast Facts See related article: Valkyrie CIO expects US spot Bitcoin ETF approval in Q2 2024 (Update adds comment from […]
SBF trial

Sam Bankman-Fried committed ‘massive fraud,’ says prosecutor in opening statements

Prosecutors allege the founder of the failed FTX cryptocurrency exchange had a reputation that was “built on lies” as hotly awaited trial begins.
Hong Kong

SFC to monitor illegal VATP activities with Hong Kong Police Force

The Securities and Futures Commission (SFC) of Hong Kong and the Hong Kong Police Force announced Wednesday the establishment of a working group to monitoring and investigating illegal activities related to Virtual Asset Trading Platforms (VATPs).  See related article: Hong Kong crypto network Mixin loses US$200 million in hack Fast Facts See related article: JPEX […]
Seoul, South Korea skyline at night | South Korea approves cryptocurrency bill to protect investors, goes into effect in one year

Bank of Korea to kick off wholesale CBDC pilot

South Korea’s central bank will be launching a pilot program for its central bank digital currency (CBDC) to explore infrastructure requirements, according to an Oct. 4 joint statement by the Bank of Korea (BOK), the nation’s Financial Services Commission (FSC) and the Financial Supervisory Service (FSS). See related article: CBDCs are coming. Here’s why you […]
CBDCs better poised for cross-border payments than Bitcoin, stablecoins: ECB study

EU wholesale CBDC plans to publish within weeks, France central bank governor says

European Union central banks will publish plans for a wholesale central bank digital currency (CBDC) in the coming weeks, François Villeroy de Galhau, the governor of France’s central bank, said at a Tuesday event in Paris. See related article: US legislators to discuss CBDC prevention bill on Sept. 20 Fast Facts See related article: Nepal […]
Ripple Vs SEC Images

XRP up over 4% after judge denies SEC’s interlocutory motion

The XRP token rose 4.42% after a federal judge denied the U.S. Securities and Exchange Commission’s (SEC) motion to overturn its recent loss against Ripple Labs. XRP traded at US$0.5308 at 2:45 p.m. in Hong Kong on Tuesday, according to CoinMarketCap data.  See related article: HK’s SFC & US SEC crack the whip as Blockchain […]
NFT cryptocurrency peaks and bottoms

How the NFT market peaks and bottoms differently from the rest of the industry

Cryptocurrencies and NFTs are evolving and carving out distinct niches, prompting a closer look at their diverging paths and the emerging trends in the digital financial landscape.
Web3 and human privacy

To succeed, Web3 must become human-centered

Web2 may be easier than ever to use, but its users are plagued by personal data theft and other security risks. Here’s how Web3 can do better.
Ripple

Ripple attains Singapore license to offer digital payment token services

The Asia-Pacific branch of Ripple Labs has received a Major Payments Institution license from the Monetary Authority of Singapore.
Uptober NFT floptober

Uptober in crypto, Floptober in NFTs

October’s ghouls and ghosts seem to spook NFT markets too. While Bitcoin shines bright every autumn, NFT traders brace for a ‘floptober’ dip.
James Tromans, Google Cloud

Silver Lining? Google Cloud’s head of Web3 talks Big Tech possibilities for the blockchain

At the Token 2049 crypto conference in Singapore held Sept. 13 to 14, Google Cloud’s James Tromans spoke to Forkast about a possible marriage between Webs 2 and 3.

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