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Chinese banknote and Bitcoin, Why did China throw down more crypto bans when it did

The curious timing behind China’s thunder and lightning at crypto

China assaulted crypto with a new ferocity just as Bitcoin options expired and Evergrande escaped death. Coincidence? Ben Caselin of AAX lays out the clues.
trading cryptocurrencies bitcoin ethereum

Crypto funds see 6th consecutive week of inflows led by Bitcoin: CoinShares data

Cryptocurrency investment products saw inflows of US$95 million last week, with total inflows over the past six weeks of US$320 million, according to digital assets fund manager CoinShares. Fast facts “The continued inflows suggest the recent headwinds for digital assets, such as the widened China ban, were seen as buying opportunities for investors,” wrote CoinShares […]
Input Output HK CEO Charles Hoskinson giving the keynote speech at the Cardano Summit

IOHK has big plans for Cardano, including Dish, Chainlink partnerships

At the Cardano Summit over the weekend, IOHK founder Charles Hoskinson revealed a slew of partnerships and other developments for the Cardano blockchain
Singapore securities exchange ADDX tokenizes Partner Group's global private equity fund

Singapore securities exchange ADDX tokenizes Partners Group global private equity fund

Singapore-based digital securities exchange ADDX today announced it had tokenized an allocation to a global private equity fund by Partners Group, a private equity firm listed on the SIX Swiss Exchange. Fast facts The allocation from the Partners Group Global Value SICAV Fund is the first from a major private equity firm that has been tokenized, […]
Binance Singapore

Binance to restrict Singapore users from buying crypto and spot trading on Binance.com

Amid growing regulatory heat, Binance — the world’s largest cryptocurrency exchange by trading volume — will restrict users in Singapore from buying cryptocurrencies using fiat, spot trading and liquid swaps on its main Binance.com platform starting Oct. 26, according to a company announcement. Fast facts Binance is advising Binance.com users in Singapore to cease all […]
South Korea flag waving against cloudy sky | Damage to crypto market limited in South Korea despite mass closure of exchanges

Damage to South Korean crypto market limited despite mass closure, regulator says

South Korea’s virtual asset industry is expected to withstand major regulatory reconstruction
XinFin’s XDC Network and Tradeteq

XinFin’s XDC Network and Tradeteq partner on NFTs for trade finance

Singapore-based blockchain protocol eXchange inFinite (XinFin) and trade finance distribution platform Tradeteq today announced their partnership to tokenize trade finance assets into non-fungible tokens (NFTs), according to a company statement shared with Forkast.News. Fast facts Atul Khekade, co-founder of XinFin, told Forkast.News in an interview that traditional trade finance assets that are typically paper-based such […]
Doors in Beijing, China

Chinese crypto exchange Huobi looks to the world as China shuts the door on crypto

Huobi’s diversified businesses outside of China reached nearly 70% in terms of trading volumes, and have been on the rise, its co-founder tells Forkast.News.
China

Industry players scramble, evaluate options as China bans all crypto transactions

China’s intensified crackdown on cryptocurrency leaves service providers looking to stay compliant with Friday’s abrupt announcement.
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Report: Indian crypto industry will grow over 200% to reach US$241M by 2030

Ban or no ban, Indian crypto industry is thriving

India’s crypto industry will grow over 200% to reach $241M by 2030, a new study says.
China Flag with cracked bitcoin icon, Key things to know about China’s latest crypto ban

China’s crypto ban: what you need to know

How is China’s latest clampdown on crypto different from its previous bans — and how do authorities plan to catch the scofflaws? Henri Arslanian of PwC breaks it down.
Crypto markets shrug off China’s latest ban

Crypto markets shrug off China’s latest saber-rattling

Is China’s influence over Bitcoin and the global crypto market waning? Chinese exchanges get a thrashing as decentralized exchanges get happy on clampdown news.
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Bitcoin in front of Chinese flag, China's crackdown on cryptocurrencies intensifies

What does China’s crypto ban really mean? Insights from the ground

China’s hardline stance against crypto is already rippling beyond its borders. A mainland crypto insider explains the global shakeup yet to come.
Latest Consumer Technology Products On Display At Annual CES In Las Vegas

Why DeFi holds the key to metaverse success

A profound shift is underway in online culture, writes Anndy Lian of BigOne Exchange. Here’s how decentralized finance might one day power the NFT and metaverse economy.
Lagos Nigeria

Chinese blockchain Conflux partners with GIGXPAD to tokenize real-world assets in Africa

GIGXPAD, a decentralized finance (DeFi) project based in Africa, is partnering with public blockchain network Conflux to tokenize real-world assets, according to a company statement shared with Forkast.News. Fast facts The collaboration, which marks the Chinese blockchain Conflux’s first use case in Africa, will see GIGXPAD deploying a decentralized crowdfunding platform on Conflux. According to […]
Scenery spot of Zhejiang, A city of Zhejiang province announced to adopt Blockchain for tracking carbon emissions Province,

Chinese city adopts blockchain to track carbon emissions

Huzhou City in Zhejiang, a province in eastern China, announced the launch of a blockchain to track and record carbon emissions records. Fast facts The blockchain was built by Beijing Zhongdian Puhua Information Technology Co., Ltd., a subsidiary of State Grid. The data will be provided to third-party carbon accounting agencies, governments, and individuals for […]
The9

The9 teams up with Polygon and Protocol Labs on new NFT platform, game projects

The9 Ltd., a Chinese gaming company that pivoted earlier this year to cryptocurrency mining — along with Polygon and Protocol Labs — are forming an ecosystem collaboration on The9’s non-fungible token (NFT) platform NFTSTAR and GameFi play-to-earn projects. Fast facts The company said in a statement released on Thursday that NFTSTAR and The9’s GameFi projects will […]
South Korea flag waving against cloudy sky | Doomsday for South Korean exchanges as they meet deadline for compliance with new regulations

Fewer South Korean crypto exchanges remain in business under new industry regulations

Around 35 virtual asset exchanges will vanish as of midnight Friday, as the country imposes new rules designed to protect consumers.
China

Crypto market is shaken as China declares all crypto transactions illegal

Bitcoin and Ethereum prices fall after Beijing intensifies crackdown on crypto trading, mining.
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mining

BIT Mining invests in crypto site in Ohio to expand U.S. operation

The cryptocurrency mining industry is attracting more investment money. Hong Kong-headquartered crypto miner BIT Mining said it had entered into an agreement to jointly invest in a crypto mining data center in the U.S. state of Ohio, with access to power capacity of up to 85 megawatts. Fast facts The development of the Ohio mining […]
RMB USD

Digital yuan could come to overseas users to challenge dollar dominance: policy bank expert

China may be a small step closer to internationalizing the yuan, though its central bank says the e-CNY is now mostly tested for domestic use.
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Sushiswap developer rejects claims of US$1B vulnerability

SushiSwap developer rejects claims of billion-dollar bug

SushiSwap, a Japanese decentralized exchange, has dismissed the claims of a white hat hacker who says two contracts on the exchange have a vulnerability that puts US$1 billion worth of user assets at risk. Fast facts An anonymous white hat hacker published a report on Thursday claiming there is a loophole in the emergency withdrawal […]
Sourtheast Asia flags, How Southeast Asia flowered into a global crypto hub

How Southeast Asia flowered into a global crypto hub

Until recently, most Southeast Asians had no internet. Now the region is abloom with blockchain innovation. How did they do it?
Plutus dAppStore coming to Cardano

Cardano to host storefront for developers to upload their DApps

With the Cardano blockchain now supporting smart contract capabilities, developers will soon be able to upload their decentralized applications (DApps) and make them available to others through a Plutus dAppStore, according to a blog post by Input Output HK (IOHK) ahead of the Cardano Summit taking place this weekend. Fast facts “The store will provide […]
Umbrella Network, a decentralized oracle, has acquired Lucidity, a blockchain-based advertising and analytics platform, to bring more transparency to advertisers.

Umbrella Network acquires platform for transparency in digital media buying

Umbrella Network, a decentralized oracle, has acquired Lucidity, a blockchain-based advertising and analytics platform, to bring more data transparency to advertisers, according to a company statement. Fast facts The acquisition was completed in August 2021 for an undisclosed amount, according to the company statement. Lucidity will be integrated with Umbrella Network as part of the […]
Blockchain technologies used by the top 100 public companies

81 of top 100 companies use blockchain technology, Blockdata research shows

Survey shows growing consensus on adoption, investment and use cases. ‘Blockchain is here to stay.’
Amber Group

Crypto unicorn Amber Group eyes listing in U.S. despite lack of regulatory clarity

Amber Group, a Hong Kong-based crypto financial services company, is eyeing a direct listing in the U.S. within the next two years, Amber Group co-founder and CEO Michael Wu told the South China Morning Post in an interview. Fast facts Founded in 2017, Amber Group propelled to unicorn status this year following its US$100 million Series […]
NFT startup Dapper Labs raised US$250 million this week

As big investors pour $930M into 2 NFT startups, what do the tea leaves say for the rest?

Marquee investors like Softbank and Andreessen Horowitz are heaping love on Sorare and Dapper Labs. What does this mean for the future of the non-fungible tokens sector?
Dubai panorama at sunset, UAE

UAE regulators to allow crypto-assets trading

The United Arab Emirates Securities and Commodities Authority (SCA) and Dubai World Trade Centre Authority (DWTCA) have signed an agreement to support crypto-assets trading and related financial activities in the DWTCA free zone. Fast facts The agreement allows the DWTCA to issue approvals and licenses for financial activities related to crypto assets and the SCA […]
Flag of South Korea | All you need to know about South Korea's crypto crackdown as regulatory deadline comes this Friday

South Korea’s crypto crackdown: What you need to know

The country’s crypto industry has been turned upside down with stricter operating rules that take effect tomorrow.
Beijing

After Evergrande, will virtual real estate be the next alternative asset class?

The property market is increasingly expensive and out of reach for today’s younger generation. Digital land sales may hit home with some buyers.
Crypto Investors Get Ready, India Crypto Tax in the Works

Investors get ready, India crypto tax in the works

The Indian ministry of finance has formed a panel to examine how income from crypto investments can be taxed, according to a report by Inc42. Fast facts The panel will evaluate whether crypto income can be taxed as capital gains or if it requires the formation of a new category. The committee is required to […]
Bhutan to adopt Ripple’s XRP technology for CBDC pilot

Bhutan to adopt Ripple’s XRP technology for CBDC pilot

Ripple’s win in Bhutan comes as it suffers a setback in a US court as judge rebuffs Ripple’s request for SEC’s internal trading decisions over XRP.
EvergrandeBitcoin

Crypto investors brush off Evergrande

The cryptocurrency market has rebounded in the past 24 hours as news broke that China Evergrande Group, the second largest property developer in the world’s most populous nation, has taken a step back from falling off a potential debt cliff today. Fast facts While the overall cryptocurrency market is still down for the week, all […]
Cobo CEO Discus Fish

Crypto platform Cobo raises $40M to expand one-stop DeFi shop for institutions

Cobo, a Singapore-based crypto custody and asset management platform, today announced the completion of its US$40 million Series B fundraise to accelerate the rollout of its decentralized finance (DeFi) as a service (DaaS) product. Fast facts In an interview, Cobo Chief Operating Officer Lily Zhuo told Forkast.News that Cobo’s DeFi as a service (DaaS) product, […]
China's Evergrande Crisis Shakes Global Stock Markets

Crypto markets plunge as roof falls in on Evergrande

Top blockchain and crypto news: Evergrande end-game roils crypto markets. SEC takes aim at stablecoins. How close is China’s digital yuan to the finish line?
India may not be ready to follow the El Salvador way but cannot “shut out” crypto, finance minister says

India may not be ready to follow El Salvador’s lead, but don’t rule out cryptocurrency, finance minister says

Nirmala Sitharaman says ‘a futuristic thing can’t be shut out’ as the country considers crypto regulation, including a possible blanket ban.
BinanceAus

After Singapore, Binance pulls back from Australia under growing regulatory pressure

Following similar moves in Singapore, embattled crypto exchange Binance — the largest in the world by trading volume — is ending its derivatives trading in Australia by year’s end, according to a company blog post on Tuesday. Fast facts Aussie traders will have 90 days to reduce or close their positions on options, futures and […]
Hacker steals US$35M worth of assets in second Avalanche hack

Second Avalanche hack hits Vee Finance for $35M in assets

Decentralized finance platform Vee Finance, which is based on the Avalanche blockchain, has suffered from a hack that saw the loss of Ether and Bitcoin tokens worth US$35 million, the lending platform announced on Tuesday. Fast facts Vee Finance suspended the platform’s contracts as well as its deposit and borrow function to protect user assets […]
Studio audio headphones for recording sound in male hands on a blurred studio background of a music studio. Sound recording process.

What is Audius and could it be the next Spotify?

Audius is enjoying outsized buzz. Should Spotify be scared? In this Forkast.News explainer, learn how this blockchain startup could threaten music industry money — and power.
Insurance

Over 90% of the world’s poor are not insured, but blockchain could soon change that

Blockchain and parametric insurance offer a bigger safety net for the world’s most vulnerable, writes Jan Stockhausen of Etherisc. Here’s how it works.
SEC Chair Gary Gensler says most cryptocurrencies including stablecoins are securities

SEC chair Gensler doubts crypto longevity: interview

In an interview by the Washington Post on Tuesday, U.S. Securities and Exchange Commission Chairman Gary Gensler questioned the future of cryptocurrency, saying, “I don’t think there’s a long-term viability for five- or six thousand private forms of money. History tells us otherwise.” He added that “in the meantime, it’s worthwhile to have an investor […]
Golden bitcoins and South Korea flag | South Korean exchanges in limbo step back except for one

S. Korean crypto exchanges at crossroads on cash-to-crypto service suspension

With only a few days left until Korea’s regulatory deadline for virtual asset exchanges, all have accepted the government mandate in service suspension except for one exchange, Gopax. Fast facts Twenty-four virtual asset exchanges in South Korea are in limbo — they have only met one of two new requirements, and were subsequently asked by […]
Canaan

Chinese rig maker Canaan to buy back shares up to $20M to bring up valuation

Chinese crypto mining rig maker Canaan Inc. announced Monday that its board of directors has authorized a share repurchase program, in a signal of confidence in crypto mining’s future and a belief that its own stock is undervalued. Fast facts Nasdaq-listed Canaan said it may repurchase up to US$20 million worth of its outstanding American […]
Bitcoin mining

Bitcoin miners expected to face tougher digging but demand continues growing

As total hashrate recovers, adjustment would follow four increases after as many declines since China intensified crypto mining clampdown.
Crypto mooncake and mooncake NFT

How crypto enthusiasts in Asia are celebrating the Mid-Autumn Festival this year

From crypto-embossed mooncakes to mooncake NFTs to gatherings in the metaverse, how Asia’s crypto fans are celebrating the Mid-Autumn Festival.
Indian crypto bill could be introduced in the parliament this month

Banks blocking transactions? No problem. Indians find ways to continue trading crypto

As major banks distance themselves from crypto business, alternative trading methods like peer-to-peer transfers are gaining popularity among investors
Evergrande

Evergrande’s uncertainty rocks crypto market

Crypto investors and industry watchers are following closely the potential collapse of Chinese property giant Evergrande.
Community, Why community is key to blockchain and crypto project success

Why community is key to blockchain and crypto project success

Blockchain communities are instrumental to shaping how projects develop and operate, writes Humpty Calderon of Ontology. What are the signs of a thriving ecosystem?
Coinbase

Crypto exchange Coinbase nixes plan for lending product after SEC lawsuit threat

Coinbase, the largest cryptocurrency exchange in the United States, has dropped its plans to launch its high-yield-generating “Lend” product following the U.S. Securities and Exchange Commission’s threat to sue the exchange if they did. Fast facts Coinbase Chief Legal Officer Paul Grewal disclosed in a blog post earlier this month that the company had received […]
Bitcoin and other cryptocurrencies

Solana funds see institutional investment inflows despite recent network outage

Despite suffering a network outage due to a denial-of-service attack that took the Solana network offline for 17 hours on Sept. 14, Solana funds continued to see inflows of US$4.8 million last week, according to digital asset manager CoinShares. Fast facts “This suggests investors were happy to shrug-off the attack, seeing it as teething problems […]
crypto miner, Bitcoin mining rigs become unprofitable in less than 17 months, which generates as much e-waste as the Netherlands produces in a year

Bitcoin mining rigs generate as much e-waste as the Netherlands

The amount of electronic waste generated by the Bitcoin network is comparable to the amount of discarded electronic equipment in a small country like the Netherlands, a study published by the academic journal Resource, Conservation and Recycling states. Fast facts According to the paper, a Bitcoin mining machine can lose 35% of its profit potential […]
Upbit's About page on its owner Dunamu's official website | Upbit becomes first exchange to be registered under the South Korean authorities

Upbit becomes South Korea’s first newly registered crypto exchange

Upbit can operate as a virtual monopoly as it becomes the country’s first licensed business to handle cryptocurrencies.
Shanghai

Conflux, Shanghai Maritime partner on offshore RMB stablecoin in free trade zone

A focus of China’s free trade and shipping, Shanghai will explore in pilot project cross border trading with offshore renminbi stablecoin.
National flag of Kyrgyzstan

Kyrgyzstan cracks down on illegal crypto mining

Kyrgyzstan is cracking down on cryptocurrency mining farms that are using power illegally, local media outlet 24.kg reported Saturday, citing a release from the State Committee for National Security of Kyrgyzstan. Fast facts Authorities have spotted over 500 crypto mining farms that were illegally connected to power grids, leading to power shortages, as one set of […]
BobaNetwork

Boba network announces mainnet launch of layer 2 optimistic rollup

ETH 2.0 is expected to address transaction speeds and gas fees on the world’s number two blockchain, but a growing number of layer-2 protocols are looking to solve those issues today.
Csomos

Cosmos price reaches for the stars as market remains firmly on the ground

As most of the crypto market stagnates, Cosmos has been on a tear over the weekend, gaining 35% since Saturday morning Asia time to reach an all-time high of US$44.54 this morning, according to CoinMarketCap.com. Fast facts Though it dropped slightly to US$41.72 just before press time, this jump marks the first time the ATOM […]
Crypto exchange Binance logo with magnifying glass

Binance faces US probe for possible insider trading and market manipulation

Binance, the world’s largest cryptocurrency exchange by trading volume, is reportedly now under investigation for possible insider trading and market manipulation by the United States Commodity Futures Trading Commission (CFTC). Fast facts According to a Bloomberg report that cited unnamed sources, investigators from the CFTC — the agency that regulates the U.S. derivatives markets — […]
Athlete waiting for the starting gun, More Chinese cities to compete for the next batch of e-CNY pilots

4 Chinese cities to compete for inclusion in e-CNY pilot programs

Four Chinese cities announced they will compete for inclusion in the next batch of digital renminbi pilot projects. They are Guangzhou, Tianjin, Yiwu and Fuzhou. Fast facts Guangzhou and Tianjin have written their goals into their city’s “14th Five-Year Financial Industry Reform Plan,” and Yiwu’s plan has been reported to the State Council. Guangzhou is […]
South Korean crypto exchange KDEX's main webpage shows announcement of service suspension | Black Friday in South Korea as more than half of its crypto exchanges announce shutdown

Black Friday in South Korea as crypto exchanges announce shutdown

All but four platforms in South Korea obligated to announce the suspension of their services by today.
Banking challenges of Indian crypto exchanges continue as largest public bank blocks UPI payments

India’s largest public bank bars payments to crypto exchanges

Most banks distance themselves from virtual asset platforms as the country’s central bank lobbies for a ban.
AVAX SHIB

In crypto market, altcoins get a chance to shine

AVAX and SHIB outperform Bitcoin, which gained in price but shied from the $50K mark.
crypto mining farm

China’s Inner Mongolia seeks out stealth crypto mining operations

China’s Inner Mongolia region — once a thriving cryptocurrency mining hub that has enacted a series of measures to rein in the sector — is tightening its crackdown by hiring a contractor to monitor and ferret out mining operations. Fast facts The Inner Mongolia Development and Reform Commission announced on Wednesday a bidding result for […]
Chinese RMB banknote

China’s e-CNY rollout enters ‘sprint stage’ for Beijing Winter Olympics

Digital yuan expected to undergo its first crucial international test despite concerns it can be used as a surveillance tool.
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treasury

U.S. Treasury prepares to recommend stricter regulation on stablecoins

The U.S. Treasury is preparing a raft of recommendations for stricter oversight of Tether and other stablecoins, as unnamed insiders say the department has identified the greatest risks posed by the tokens, according to a recent Bloomberg report. Fast facts Making sure investors are able to transfer money in and out of tokens is a […]
bitcoinbeach

El Salvador’s Bitcoin adoption, one week on

It’s hot on Bitcoin Beach and the Twitterverse, but the new legal tender doesn’t have uptake elsewhere in the Central American country.
Crypto exchange CEO Changpeng Zhao

Crypto exchange Binance wants centralized headquarters amid regulatory heat

Under scrutiny around the world, the largest cryptocurrency exchange wants to do a better job engaging with regulators.
Avalanche

Avalanche’s AVAX token surges to all-time high after $230M fundraise

AVAX — the native token of the Avalanche blockchain — today surged to a new all-time high of US$68.34, according to CoinGecko data, boosted by news of a US$230 million investment into the Avalanche ecosystem. AVAX has increased by 60% over the past seven days. Fast facts Launched in September 2020, Avalanche is an open, […]
Institutional DeFi poised to become a $1 trillion industry, Blockdata says

Institutional DeFi poised to become a $1 trillion industry, Blockdata says

Blockchain research firm sees explosive growth in smart contract-based products that can replace existing financial services.
Man casting his vote to a ballot box mockup, quadratic funding can democratize community capital allocation

How quadratic funding promotes projects for the common good

What is quadratic funding, and why is this mathematical method ideal for allocating capital for a community? Pranav Sharma of Woodstock Fund explains.
Babel Finance, Babel Finance survives short-term debt requirements

Hong Kong-based crypto lender Babel Finance expands to Singapore

Babel Finance, a Hong Kong-based crypto lender and asset manager, today announced it is opening a business headquarters in Singapore named Babel Asia, as the company looks to serve more clients globally. Fast facts Babel Asia plans to serve as a base for future merger and acquisition activities, together with Babel Finance to drive mainstream […]
kombucha

Logging each step in tea production on a blockchain — from farm to cup

With the ease of counterfeiting products like premium tea, keeping a tamper-proof digital paper trail can record each step along the way.

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