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![South Korean banks find workaround to cash in on crypto services 1 Golden bitcoins and South Korea flag | South Korea's NH Nonghyup Bank makes investment in crypto custodian Cardo](https://forkast.news/wp-content/uploads/2021/09/golden-bitcoins-and-south-korea-flag-PNHDMAM-1260x840.jpg)
South Korean banks find workaround to cash in on crypto services
NH Nonghyup is the third bank in South Korea to invest in a virtual asset custody service while they are prohibited from running their own.
![Unmade in China: Beijing’s crypto cold war turns hot 2 china crypto ban](https://forkast.news/wp-content/uploads/2021/09/china-crypto-ban-1260x710.png)
Unmade in China: Beijing’s crypto cold war turns hot
Top blockchain and cryptocurrency news: Beijing’s crypto crusade comes to a head. Chinese mining caves in. Mr. Goxx reaps robust returns.
![Retail malls, move over. Crypto mining is in for Malaysia's Hatten Land 3 Hatten Land mall](https://forkast.news/wp-content/uploads/2021/09/Hatten-Land-mall-1260x698.png)
Retail malls, move over. Crypto mining is in for Malaysia’s Hatten Land
Malaysian property developer Hatten Land has signed an agreement, through a subsidiary, with Singapore-based digital asset management company Frontier to share proceeds from jointly operating at least 1,000 cryptocurrency mining rigs within Hatten Land properties in Malaysia, according to a company statement released today. Fast facts Hatten Land has previously announced that it would repurpose […]
![BeePool, Tiger Brokers among the latest to respond to China’s crypto ban 4 BeePool_Tiger Brokers](https://forkast.news/wp-content/uploads/2021/09/BeePool_Tiger-Brokers.png)
BeePool, Tiger Brokers among the latest to respond to China’s crypto ban
China’s stepped-up cryptocurrency ban continues to send shockwaves through the industry, as more crypto service providers are shutting their doors to users in China. BeePool and Tiger Brokers are among the latest to announce service suspensions. Fast facts China-based BeePool, the fourth-largest Ethereum mining pool in hashrate, said Tuesday that it has stopped registering new […]
![CFTC slaps $1.25M fine on crypto exchange Kraken for illegal offerings 5 CFTC levies US$1.25M fine on crypto exchange Kraken for illegal offerings](https://forkast.news/wp-content/uploads/2021/09/image5-1260x843.png)
CFTC slaps $1.25M fine on crypto exchange Kraken for illegal offerings
The U.S. Commodity Futures Trading Commission has slapped a US$1.25 million fine on Kraken, one of the largest cryptocurrency exchanges in the U.S., for Commodity Exchange Act (CEA) violations, the CFTC announced yesterday. Fast facts The CFTC, in its settlement with Payward Ventures Inc., the San Francisco-based company doing business under the name Kraken, said […]
![CBDC plans advance in Nigeria, Chile, Tajikistan 6 National flag of Nigeria, developing countries are pushing CBDC projects](https://forkast.news/wp-content/uploads/2021/09/national-flag-of-nigeria-KKPSKQG-1260x840.jpg)
CBDC plans advance in Nigeria, Chile, Tajikistan
Nigeria, Chile and Tajikistan have taken major steps in their plans for central bank digital currencies (CBDCs), while mainland China, Hong Kong, Thailand and the United Arab Emirates explore the potential for CBDCs in cross-border payments. Fast facts The Central Bank of Nigeria (CBN) has launched a website for eNaira, the country’s CBDC, which will […]
![Fetch.ai, Algbra partner to bring AI-driven DeFi services to minority communities 7 Fetch.ai and Algbra](https://forkast.news/wp-content/uploads/2021/09/Fetchai-and-Algbra-1260x709.jpeg)
Fetch.ai, Algbra partner to bring AI-driven DeFi services to minority communities
Fetch.ai, an artificial intelligence lab based in the British city of Cambridge, today announced its partnership with Algbra, a London-based fintech platform, to bring artificial intelligence (AI) and machine learning to decentralized finance (DeFi) and the banking sector to provide minority communities with greater access to financial services. Fast facts According to a statement shared […]
![Ant Group and Tencent obtain the most blockchain patents in China: report 8 Ant Group, Tencent](https://forkast.news/wp-content/uploads/2021/09/Timmy-6.png)
Ant Group and Tencent obtain the most blockchain patents in China: report
China saw a fivefold increase in blockchain patents last year despite the Covid-19 shutdown.
![China’s BSN to set up foundation in Singapore to fuel international expansion 9 BSN](https://forkast.news/wp-content/uploads/2021/09/截圖-2021-09-28-下午7.00.46.png)
China’s BSN to set up foundation in Singapore to fuel international expansion
China’s Blockchain-based Service Network (BSN) — a public-private nationwide infrastructure project to spur mass adoption of blockchain technology — is moving a step closer to more international exposure, as the company behind it is working to register a foundation based in Singapore. Fast facts Red Date Technology, the company China tapped to manage its BSN, […]
![How central banks are wielding blockchain in soft power competition 10 US dollar and chinese yuan,How central banks are wielding blockchain in soft power competition](https://forkast.news/wp-content/uploads/2021/09/us-and-chinese-yuan-with-white-puzzle-for-exchange-E9M4H7U-1260x840.jpg)
How central banks are wielding blockchain in soft power competition
China’s crypto ban is part of a global battle over freedom and ideology, writes Michael B. Greenwald. How can the US lead the world in a different path?
![Crypto mining players continue to flee China as latest ban kicks in 11 Mining](https://forkast.news/wp-content/uploads/2021/09/截圖-2021-09-28-下午5.48.13.png)
Crypto mining players continue to flee China as latest ban kicks in
China’s earlier efforts to eradicate mining may not have been as effective as the government had hoped, but Friday’s announcement is having an impact.
![The curious timing behind China's thunder and lightning at crypto 12 Chinese banknote and Bitcoin, Why did China throw down more crypto bans when it did](https://forkast.news/wp-content/uploads/2021/09/chinese-banknote-and-bitcoin-USRAH38-1260x664.jpg)
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.
![Crypto funds see 6th consecutive week of inflows led by Bitcoin: CoinShares data 13 trading cryptocurrencies bitcoin ethereum](https://forkast.news/wp-content/uploads/2021/09/trading-bitcoin-1260x840.jpg)
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 […]
![IOHK has big plans for Cardano, including Dish, Chainlink partnerships 14 Input Output HK CEO Charles Hoskinson giving the keynote speech at the Cardano Summit](https://forkast.news/wp-content/uploads/2021/09/Screenshot-2021-09-28-at-11.04.24-1260x684.png)
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 Partners Group global private equity fund 15 Singapore securities exchange ADDX tokenizes Partner Group's global private equity fund](https://forkast.news/wp-content/uploads/2021/09/ADDX-1260x709.jpg)
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 to restrict Singapore users from buying crypto and spot trading on Binance.com 16 Binance Singapore](https://forkast.news/wp-content/uploads/2021/09/Binance-Singapore-1260x709.jpg)
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 […]
![Damage to South Korean crypto market limited despite mass closure, regulator says 17 South Korea flag waving against cloudy sky | Damage to crypto market limited in South Korea despite mass closure of exchanges](https://forkast.news/wp-content/uploads/2021/09/south-korea-flag-waving-against-cloudy-sky-DVGMXHR-3-1260x548.jpg)
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 partner on NFTs for trade finance 18 XinFin’s XDC Network and Tradeteq](https://forkast.news/wp-content/uploads/2021/09/XinFins-XDC-Network-and-Tradeteq-1260x709.jpg)
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 […]
![Chinese crypto exchange Huobi looks to the world as China shuts the door on crypto 19 Doors in Beijing, China](https://forkast.news/wp-content/uploads/2021/09/China-door-1260x837.jpg)
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.
![Industry players scramble, evaluate options as China bans all crypto transactions 20 China](https://forkast.news/wp-content/uploads/2021/09/截圖-2021-09-27-下午5.43.04-1260x660.png)
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.
![Ban or no ban, Indian crypto industry is thriving 21 Report: Indian crypto industry will grow over 200% to reach US$241M by 2030](https://forkast.news/wp-content/uploads/2021/09/golden-bitcoin-and-flag-of-india_cc-by-20-1.jpg)
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's crypto ban: what you need to know 22 China Flag with cracked bitcoin icon, Key things to know about China’s latest crypto ban](https://forkast.news/wp-content/uploads/2021/08/微信截图_20210820214225-1260x708.png)
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 saber-rattling 23 Crypto markets shrug off China’s latest ban](https://forkast.news/wp-content/uploads/2021/09/China-crypto-ban-1260x709.jpg)
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.
![What does China’s crypto ban really mean? Insights from the ground 24 Bitcoin in front of Chinese flag, China's crackdown on cryptocurrencies intensifies](https://forkast.news/wp-content/uploads/2021/09/golden-bitcoins-and-chinese-flag-PLNTQRU-1260x840.jpg)
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.
![Why DeFi holds the key to metaverse success 25 Latest Consumer Technology Products On Display At Annual CES In Las Vegas](https://forkast.news/wp-content/uploads/2021/09/Virtual-Reality-Headset.jpg)
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.
![Chinese blockchain Conflux partners with GIGXPAD to tokenize real-world assets in Africa 26 Lagos Nigeria](https://forkast.news/wp-content/uploads/2021/09/Lagos-Nigeria-1260x709.jpg)
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 […]
![Chinese city adopts blockchain to track carbon emissions 27 Scenery spot of Zhejiang, A city of Zhejiang province announced to adopt Blockchain for tracking carbon emissions Province,](https://forkast.news/wp-content/uploads/2021/09/beautiful-hangzhou-west-lake-scenery-GP9BKC4-1260x840.jpg)
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 teams up with Polygon and Protocol Labs on new NFT platform, game projects 28 The9](https://forkast.news/wp-content/uploads/2021/09/the9-logo_750x430.jpg)
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 […]
![Fewer South Korean crypto exchanges remain in business under new industry regulations 29 South Korea flag waving against cloudy sky | Doomsday for South Korean exchanges as they meet deadline for compliance with new regulations](https://forkast.news/wp-content/uploads/2021/09/south-korea-flag-waving-against-cloudy-sky-DVGMXHR-2-1260x548.jpg)
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.
![Crypto market is shaken as China declares all crypto transactions illegal 30 China](https://forkast.news/wp-content/uploads/2021/09/截圖-2021-09-24-下午8.02.44.png)
Crypto market is shaken as China declares all crypto transactions illegal
Bitcoin and Ethereum prices fall after Beijing intensifies crackdown on crypto trading, mining.
![BIT Mining invests in crypto site in Ohio to expand U.S. operation 31 mining](https://forkast.news/wp-content/uploads/2021/09/截圖-2021-09-24-下午6.28.57.png)
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 […]
![Digital yuan could come to overseas users to challenge dollar dominance: policy bank expert 32 RMB USD](https://forkast.news/wp-content/uploads/2021/09/截圖-2021-09-24-下午6.02.38-1260x658.png)
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.
![SushiSwap developer rejects claims of billion-dollar bug 33 Sushiswap developer rejects claims of US$1B vulnerability](https://forkast.news/wp-content/uploads/2021/09/Screenshot-2021-09-24-at-17.29.18-1260x702.png)
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 […]
![How Southeast Asia flowered into a global crypto hub 34 Sourtheast Asia flags, How Southeast Asia flowered into a global crypto hub](https://forkast.news/wp-content/uploads/2021/09/flags-of-southeast-asia-countries-aec-asean-econom-P2ESLEG-1260x840.jpg)
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?
![Cardano to host storefront for developers to upload their DApps 35 Plutus dAppStore coming to Cardano](https://forkast.news/wp-content/uploads/2021/09/Cardano-1-1260x709.jpg)
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 acquires platform for transparency in digital media buying 36 Umbrella Network, a decentralized oracle, has acquired Lucidity, a blockchain-based advertising and analytics platform, to bring more transparency to advertisers.](https://forkast.news/wp-content/uploads/2021/09/Umbrella-1260x802.jpg)
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 […]
![81 of top 100 companies use blockchain technology, Blockdata research shows 37 Blockchain technologies used by the top 100 public companies](https://forkast.news/wp-content/uploads/2021/09/Blockchain-technologies-1260x779.jpeg)
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.’
![Crypto unicorn Amber Group eyes listing in U.S. despite lack of regulatory clarity 38 Amber Group](https://forkast.news/wp-content/uploads/2021/09/Amber-Group-1260x709.jpg)
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 […]
![As big investors pour $930M into 2 NFT startups, what do the tea leaves say for the rest? 39 NFT startup Dapper Labs raised US$250 million this week](https://forkast.news/wp-content/uploads/2021/09/1_-PBfYmLSFrTMsn7SKx2IbA-1260x754.jpeg)
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?
![UAE regulators to allow crypto-assets trading 40 Dubai panorama at sunset, UAE](https://forkast.news/wp-content/uploads/2021/09/dubai-panorama-at-sunset-uae-Z4845ZT-1260x840.jpg)
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 […]
![South Korea’s crypto crackdown: What you need to know 41 Flag of South Korea | All you need to know about South Korea's crypto crackdown as regulatory deadline comes this Friday](https://forkast.news/wp-content/uploads/2021/09/flag-of-south-korea-GTNJDS8-1260x840.jpg)
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.
![After Evergrande, will virtual real estate be the next alternative asset class? 42 Beijing](https://forkast.news/wp-content/uploads/2021/09/NFTBeijing-1260x709.jpg)
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.
![Investors get ready, India crypto tax in the works 43 Crypto Investors Get Ready, India Crypto Tax in the Works](https://forkast.news/wp-content/uploads/2021/09/bitcoin-75896-wo-1260x840.jpg)
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 44 Bhutan to adopt Ripple’s XRP technology for CBDC pilot](https://forkast.news/wp-content/uploads/2021/09/Bhutan-1260x709.jpg)
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.
![Crypto investors brush off Evergrande 45 EvergrandeBitcoin](https://forkast.news/wp-content/uploads/2021/09/Evergrande_Followup-1260x709.jpg)
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 […]
![Crypto platform Cobo raises $40M to expand one-stop DeFi shop for institutions 46 Cobo CEO Discus Fish](https://forkast.news/wp-content/uploads/2021/09/Cobo-CEO-Discus-Fish-1260x709.jpg)
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, […]
![Crypto markets plunge as roof falls in on Evergrande 47 China's Evergrande Crisis Shakes Global Stock Markets](https://forkast.news/wp-content/uploads/2021/09/Evergrande-City-Center.jpg)
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 El Salvador's lead, but don't rule out cryptocurrency, finance minister says 48 India may not be ready to follow the El Salvador way but cannot “shut out” crypto, finance minister says](https://forkast.news/wp-content/uploads/2021/09/Smt._Nirmala_Sitharaman_addressing_a_press_conference_on_June_28_2021_in_New_Delhi_cropped-1-1260x717.jpg)
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.
![After Singapore, Binance pulls back from Australia under growing regulatory pressure 49 BinanceAus](https://forkast.news/wp-content/uploads/2021/09/BinanceAus-1260x709.jpg)
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 […]
![Second Avalanche hack hits Vee Finance for $35M in assets 50 Hacker steals US$35M worth of assets in second Avalanche hack](https://forkast.news/wp-content/uploads/2021/09/Screenshot-2021-09-22-at-12.39.55-1260x680.png)
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 […]
![What is Audius and could it be the next Spotify? 51 Studio audio headphones for recording sound in male hands on a blurred studio background of a music studio. Sound recording process.](https://forkast.news/wp-content/uploads/2021/09/studio-audio-headphones-for-recording-sound-in-mal-KR2MT2B-1-1260x742.jpg)
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.
![Over 90% of the world's poor are not insured, but blockchain could soon change that 52 Insurance](https://forkast.news/wp-content/uploads/2021/09/insurance-concepts-7Z28PM3-1260x840.jpg)
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 Gensler doubts crypto longevity: interview 53 SEC Chair Gary Gensler says most cryptocurrencies including stablecoins are securities](https://forkast.news/wp-content/uploads/2021/09/GettyImages-145009756-1260x840.jpg)
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 […]
![S. Korean crypto exchanges at crossroads on cash-to-crypto service suspension 54 Golden bitcoins and South Korea flag | South Korean exchanges in limbo step back except for one](https://forkast.news/wp-content/uploads/2021/09/golden-bitcoins-and-south-korea-flag-P9WDP8A-3-1260x840.jpg)
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 […]
![Chinese rig maker Canaan to buy back shares up to $20M to bring up valuation 55 Canaan](https://forkast.news/wp-content/uploads/2021/09/截圖-2021-09-21-下午5.54.18.png)
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 miners expected to face tougher digging but demand continues growing 56 Bitcoin mining](https://forkast.news/wp-content/uploads/2021/09/截圖-2021-09-21-下午5.23.50.png)
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.
![How crypto enthusiasts in Asia are celebrating the Mid-Autumn Festival this year 57 Crypto mooncake and mooncake NFT](https://forkast.news/wp-content/uploads/2021/09/crypto-mid-autumn-festival-1260x709.jpg)
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.
![Banks blocking transactions? No problem. Indians find ways to continue trading crypto 58 Indian crypto bill could be introduced in the parliament this month](https://forkast.news/wp-content/uploads/2021/09/Screenshot-2021-09-21-at-14.38.32-1260x680.png)
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’s uncertainty rocks crypto market 59 Evergrande](https://forkast.news/wp-content/uploads/2021/09/EvergrandeFeature-1260x709.jpg)
Evergrande’s uncertainty rocks crypto market
Crypto investors and industry watchers are following closely the potential collapse of Chinese property giant Evergrande.
![Why community is key to blockchain and crypto project success 60 Community, Why community is key to blockchain and crypto project success](https://forkast.news/wp-content/uploads/2021/09/classmate-solidarity-team-group-community-concept-PR55CKK-1260x1121.jpg)
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?
![Crypto exchange Coinbase nixes plan for lending product after SEC lawsuit threat 61 Coinbase](https://forkast.news/wp-content/uploads/2021/09/Coinbase-1260x709.jpg)
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 […]
![Solana funds see institutional investment inflows despite recent network outage 62 Bitcoin and other cryptocurrencies](https://forkast.news/wp-content/uploads/2021/09/Bitcoin-1-1260x709.jpg)
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 […]
![Bitcoin mining rigs generate as much e-waste as the Netherlands 63 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](https://forkast.news/wp-content/uploads/2021/09/cryptocurrency-mining-rig-using-graphic-cards-to-m-PT5UKEV-1260x840.jpg)
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 becomes South Korea’s first newly registered crypto exchange 64 Upbit's About page on its owner Dunamu's official website | Upbit becomes first exchange to be registered under the South Korean authorities](https://forkast.news/wp-content/uploads/2021/09/스크린샷-2021-09-20-오후-8.16.55-1260x557.png)
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.
![Conflux, Shanghai Maritime partner on offshore RMB stablecoin in free trade zone 65 Shanghai](https://forkast.news/wp-content/uploads/2021/09/截圖-2021-09-20-下午6.16.45.png)
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.
![Kyrgyzstan cracks down on illegal crypto mining 66 National flag of Kyrgyzstan](https://forkast.news/wp-content/uploads/2021/09/截圖-2021-09-20-下午6.10.01.png)
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 […]
![Boba network announces mainnet launch of layer 2 optimistic rollup 67 BobaNetwork](https://forkast.news/wp-content/uploads/2021/09/BobaNetwork.png)
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.
![Cosmos price reaches for the stars as market remains firmly on the ground 68 Csomos](https://forkast.news/wp-content/uploads/2021/09/FF_CosmosTitle-1260x709.jpg)
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 […]
![Binance faces US probe for possible insider trading and market manipulation 69 Crypto exchange Binance logo with magnifying glass](https://forkast.news/wp-content/uploads/2021/09/Binance-1-1260x709.jpg)
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 — […]
![4 Chinese cities to compete for inclusion in e-CNY pilot programs 70 Athlete waiting for the starting gun, More Chinese cities to compete for the next batch of e-CNY pilots](https://forkast.news/wp-content/uploads/2021/09/fit-athlete-running-race-in-athletics-racetrack-on-P9HWU3D.jpg)
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 […]
![Black Friday in South Korea as crypto exchanges announce shutdown 71 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](https://forkast.news/wp-content/uploads/2021/09/스크린샷-2021-09-17-오후-5.53.28-1260x717.png)
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.
![India's largest public bank bars payments to crypto exchanges 72 Banking challenges of Indian crypto exchanges continue as largest public bank blocks UPI payments](https://forkast.news/wp-content/uploads/2021/09/executium-9pCV2MB65y8-unsplash-1260x840.jpg)
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.