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![More teens in South Korea buy crypto despite strict pending regulations 1 Seoul, South Korea | More South Korean teens get into crypto investment](https://forkast.news/wp-content/uploads/2021/08/seoul-south-korea-P8DLM3J-1260x841.jpg)
More teens in South Korea buy crypto despite strict pending regulations
New data shows increasing deposits made by teens in virtual currency despite new rules that may close down many platforms in less than a month.
![Hong Kong-based crypto exchange Bilaxy hacked; over $21M loss 2 Hacked, hong kong crypto exchange bilaxy loses 21million in the attack](https://forkast.news/wp-content/uploads/2021/08/cpu-vulnerability-3d-render-hacked-processor-conce-8WUSGAS-1260x709.jpg)
Hong Kong-based crypto exchange Bilaxy hacked; over $21M loss
The 20th hijack this month, after Poly Network, Solend and Liquid.
![Solana crosses $100 price level 3 Solana Logo, Solana crosses $100 price level](https://forkast.news/wp-content/uploads/2021/08/微信截图_20210827174342-1260x709.png)
Solana crosses $100 price level
As Bitcoin and Ethereum drop after a quick ascent, the surge of Solana (SOL) continues. SOL hit a new all-time high of US$102.07 today, with its market cap reaching over US$29 billion. The world’s eighth largest cryptocurrency has been consecutively hitting new all-time highs in the past four days. Fast facts The market cap of […]
![Three state-owned banks in China release e-CNY usage data 4 CNY counting machine, E-CNY related business is on a trend](https://forkast.news/wp-content/uploads/2021/08/CNY-1260x716.png)
Three state-owned banks in China release e-CNY usage data
Tens of billions in digital yuan circulate through the banks’ systems, as leaders encourage wider adoption.
![Ethereum network splits into two; update is urged 5 Blockchain, Ethereum network splits into two; update is urged](https://forkast.news/wp-content/uploads/2021/08/blockchain-technology-concept-PEHGTVU-1260x735.jpg)
Ethereum network splits into two; update is urged
A network patch designed to fix a bug on the Geth network has led to the world’s second-largest blockchain splitting in two.
![Square's Jack Dorsey to build decentralized Bitcoin exchange 6 BTC](https://forkast.news/wp-content/uploads/2021/08/FF_BTC-1260x840.jpg)
Square’s Jack Dorsey to build decentralized Bitcoin exchange
Jack Dorsey, CEO of tech giants Square and Twitter, announced on Friday that Square’s new decentralized finance division, TBD, plans to build a decentralized Bitcoin exchange. Fast facts “We’ve determined TBD’s direction: help us build an open platform to create a decentralized exchange for Bitcoin,” he tweeted. Project lead for TBD Mike Brock also tweeted […]
![Singapore central bank announces 15 finalists for Global CBDC Challenge 7 Global CBDC Challenge](https://forkast.news/wp-content/uploads/2021/08/Global-CBDC-Challenge-1260x709.jpg)
Singapore central bank announces 15 finalists for Global CBDC Challenge
The Monetary Authority of Singapore (MAS) today announced 15 finalists for its “Global CBDC Challenge” — a competition to develop retail Central Bank Digital Currency (CBDC) solutions to improve payment services and promote financial inclusion. Fast facts According to MAS, the Global CBDC Challenge attracted over 300 submissions from more than 50 countries, with over […]
![Why some big investors are diving into DeFi but others are holding back 8 Decentralized Finance (DeFi)](https://forkast.news/wp-content/uploads/2021/08/Decentralized-Finance-1260x709.jpg)
Why some big investors are diving into DeFi but others are holding back
Decentralized finance (DeFi) is attracting a lot of attention from traditional banks and venture capital, but many institutions remain firmly on the sidelines. Forkast.News explores why.
![S. Korea crypto exchanges told no grace period for do-or-die reporting deadline 9 Golden bitcoins and South Korea flag | New FSC head says no to extension of reporting deadline for crypto exchanges](https://forkast.news/wp-content/uploads/2021/08/golden-bitcoins-and-south-korea-flag-P9WDP8A-1260x840.jpg)
S. Korea crypto exchanges told no grace period for do-or-die reporting deadline
A looming deadline for crypto exchanges in South Korea to either meet new compliance requirements or face closure will not be extended, the country’s newly nominated chief financial regulator says. The rules are designed to improve investor protection and transparency in crypto transactions, but many exchanges have been calling for a longer grace period. Fast […]
![How Bitcoin and Ethereum are rekindling with equities 10 equity market chart, the crypto assets 's correlation with equity](https://forkast.news/wp-content/uploads/2021/08/ethereum-coin-with-stock-graph-background-digital-KVYNKPQ-1260x945.jpg)
How Bitcoin and Ethereum are rekindling with equities
What is the relationship between crypto assets and stock prices? An analysis week’s market trends.
![Axie Infinity tweet suggests willingness to work with Philippines on tax demand 11 Axie Infinity, said looking forward to work with government after philippines announced taxation](https://forkast.news/wp-content/uploads/2021/08/https___bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com_public_images_b06bf3b3-2402-4f75-be58-fa85e9f93815_1554x862-e1630054223355-1260x664.jpg)
Axie Infinity tweet suggests willingness to work with Philippines on tax demand
Axie Infinity, one of the world’s most popular non-fungible token (NFT) games, tweeted that it is “looking forward to working with physical nations” and called for its digital users to abide by the laws of their home countries, presumably a reference to local tax laws. Fast facts The tweet came just days after the Philippines government stated […]
![Solana price hits all-time high as Bitcoin, crypto market dip 12 solana](https://forkast.news/wp-content/uploads/2021/08/solana-1-1260x718.png)
Solana price hits all-time high as Bitcoin, crypto market dip
Bitcoin’s price dropped following a quick ascent past US$50K, but analysts say the rally is set to continue. Meanwhile, Solana again defied the overall market to post a new price high.
![Crypto mining rig giant Bitmain confirms TSMC chip price jump 13 Bitmain](https://forkast.news/wp-content/uploads/2021/08/截圖-2021-08-27-下午4.03.58.png)
Crypto mining rig giant Bitmain confirms TSMC chip price jump
China-based Bitmain, one of the world’s biggest producers of cryptocurrency mining rigs, confirmed in a social media post a 20% price hike in the chips it buys from Taiwan Semiconductor Manufacturing Company (TSMC). Fast facts Bitmain said on Thursday in a WeChat post that TSMC had informed all clients, including the mining rig maker, that […]
![Websites can now have ETH sent directly to their domain name 14 Ethereum](https://forkast.news/wp-content/uploads/2021/08/FF_ENS-1260x841.jpg)
Websites can now have ETH sent directly to their domain name
Anyone who owns a website is now able to receive crypto payments directly to their domain name, as Ethereum Name Service announces full integration with the centralized web. Fast facts Making the announcement on Twitter Friday morning, the new upgrade will bring interoperability between the centralized web and the blockchain-based ENS system. The internet currently […]
![Former India central bank chief says cryptocurrencies have a 'potential future' 15 Ex-Reserve Bank of India governor Raghuram Rajan says cryptocurrencies have a potential future](https://forkast.news/wp-content/uploads/2021/08/Shri_Raghuram_Rajan_taking_charge_as_the_new_Chief_Economic_Advisor_in_the_Ministry_of_Finance_in_New_Delhi_on_August_29_2012-1260x963.jpg)
Former India central bank chief says cryptocurrencies have a ‘potential future’
While India’s parliament considers a potential nationwide ban on all private virtual currencies, a former governor of India’s central bank says some cryptocurrencies have a “potential future” in the global economy. Raghuram Rajan, ex-governor of India’s central bank and former chief economist at the International Monetary Fund, made his comments at a Reuters Global Markets […]
![AAX to launch its own NFT marketplace, following other crypto exchanges 16 AAX](https://forkast.news/wp-content/uploads/2021/08/FF_AAX-1260x732.png)
AAX to launch its own NFT marketplace, following other crypto exchanges
Amid the immense growth in the non-fungible token market, leading Singapore-based crypto exchange AAX is planning to launch its own NFT marketplace in the “near future,” according to a press release shared with Forkast.News. Fast facts In preparation for the launch, AAX is running a campaign in which its users can auction NFTs for charity […]
![How blockchain is transforming shipping and redefining global trade 17 shipping containers in a port](https://forkast.news/wp-content/uploads/2021/08/GSBN_SEA-Cargo-Release-1260x840.jpg)
How blockchain is transforming shipping and redefining global trade
Rising from the rubble of a Covid economy, shipping companies are now using blockchain technology to rebuild profitability and reduce inefficiencies.
![Forkast.News exclusive: Antinalysis is out, proud and ready to tell (almost) all 18 darknet tool, Antinalysis](https://forkast.news/wp-content/uploads/2021/08/markus-spiske-FXFz-sW0uwo-unsplash-1260x840.jpg)
Forkast.News exclusive: Antinalysis is out, proud and ready to tell (almost) all
In a special Q&A, an Antinalysis spokesperson reveals the source of the company’s controversial data and disputes that it’s for criminals. ‘Privacy is a human right.’
![Bitcoin mining difficulty increases 13.2% 19 Bitcoin mining](https://forkast.news/wp-content/uploads/2021/08/Bitcoin-mining-1.png)
Bitcoin mining difficulty increases 13.2%
Bitcoin miners saw another mining difficulty adjustment on Wednesday night, with an increase of 13.24%, according to data from BTC.com. Fast facts The mining difficulty level is now at 17.62 trillion at block height 697,536, reflecting a 13.24% increase from the last adjustment, the data showed. The latest adjustment follows two increases after four consecutive […]
![Taiwan Semiconductor chip price increase on the way 20 TSMC](https://forkast.news/wp-content/uploads/2021/08/TSMC-1260x840.jpg)
Taiwan Semiconductor chip price increase on the way
Amid global supply shortage, the move could impact clients such as mining rig maker Bitmain, which sources TSMC’s wafers for its Antminer S19 series.
![South Korea unveils “death note” for crypto exchanges 21 South Korean national flag on a pole waving against cloudy sky background | South Korea unveils "death note" for crypto exchanges](https://forkast.news/wp-content/uploads/2021/08/south-korea-flag-waving-against-cloudy-sky-DVGMXHR-1260x548.jpg)
South Korea unveils “death note” for crypto exchanges
24 out of 63 digital currency exchanges in South Korea are not expected to meet new compliance requirements and will most likely be shut down in less than a month.
![DeFi TVL hits all-time high, breaking past correlation with Ethereum price 22 crypto marketcap chart, DeFi TVL hits all-time high](https://forkast.news/wp-content/uploads/2021/08/cryptocurrency-marketplace-platform-trading-theme-5H5MV65-1260x826.jpeg)
DeFi TVL hits all-time high, breaking past correlation with Ethereum price
While DeFi has historically moved with the Ethereum price, the latest all-time high in total value locked in can largely be attributed to new blockchains purpose-built for the sector and institutional interest.
![Chinese tech company Meitu reports $17M loss on Bitcoin holdings in 1H 2021 23 Meitu logo and Bitcoin cryptocurrency](https://forkast.news/wp-content/uploads/2021/08/Meitu-Bitcoin-1260x709.jpg)
Chinese tech company Meitu reports $17M loss on Bitcoin holdings in 1H 2021
Meitu, a Hong Kong-listed Chinese technology company best known for its popular beauty apps, saw an RMB111,907, 000 (US$17.3 million) impairment loss on its Bitcoin holdings in the first six months of 2021, the company reported in its latest financial results. Fast facts According to Meitu’s Aug. 25 HKEX filing: “the decrease in fair value […]
![BIS, HKMA partner on Project Genesis to tokenize green bonds 24 Hong Kong Monetary Authority (HKMA) and Bank for International Settlements (BIS) logos superimposed on Hong Kong skyline](https://forkast.news/wp-content/uploads/2021/08/HKMA-BIS-1260x709.jpg)
BIS, HKMA partner on Project Genesis to tokenize green bonds
The Bank for International Settlements (BIS) Innovation Hub Hong Kong Centre and the Hong Kong Monetary Authority (HKMA) are collaborating on Project Genesis — a green finance project for the tokenization of green bonds using blockchain technology, according to a BIS statement. Fast facts Project Genesis — the BIS Innovation Hub’s first green finance project […]
![Cardano Foundation partners with Coinfirm for AML/CFT compliance 25 ADAFTAF](https://forkast.news/wp-content/uploads/2021/08/FF_ADAFTAF-1260x709.jpg)
Cardano Foundation partners with Coinfirm for AML/CFT compliance
In the latest from the world’s third-largest cryptocurrency, which has gone from strength to strength this month, the Cardano Foundation is partnering with blockchain analytics provider Coinfirm.io to ensure the network complies with the Financial Action Task Force’s guidelines. Fast facts In a company announcement this week, the Cardano Foundation said it would be using […]
![Bitcoin ATM firms and Chainalysis form cooperative to protect public 26 cash from atm, Bitcoin atm manufacturer digitalmint coopeerates with chainanalysis](https://forkast.news/wp-content/uploads/2021/08/cash-money-from-the-atm-atm-banking-446T5KC-1260x894.jpg)
Bitcoin ATM firms and Chainalysis form cooperative to protect public
Bitcoin ATM operators DigitalMint and Coinsource are joining blockchain analytics company Chainalysis to form the Cryptocurrency Compliance Cooperative (CCC). The mission of the CCC is to bolster compliance standards and protect consumers in the cash-to-cryptocurrency industry. Fast facts Leaders in the cash-to-crypto business say they are on the mission to create a safer environment for […]
![Hacked crypto exchange Liquid secures $120M loan from FTX 27 FTX logo](https://forkast.news/wp-content/uploads/2021/08/FF_FTX.png)
Hacked crypto exchange Liquid secures $120M loan from FTX
While the funds stolen in last week’s cyberattack on Liquid are yet to be returned, the Japanese exchange has secured a US$120 million loan from fellow exchange FTX to cover losses. Fast facts Sam Bankman-Fried, the billionaire CEO of Hong-Kong based FTX, took to Twitter to make the announcement, saying he had always admired Liquid’s […]
![UK's Financial Conduct Authority: Binance has complied with requirements 28 London skyline](https://forkast.news/wp-content/uploads/2021/08/London-skyline-1260x709.jpg)
UK’s Financial Conduct Authority: Binance has complied with requirements
Binance Markets Limited, the British affiliate of the world’s largest cryptocurrency exchange, is now compliant with the requirements that the U.K.’s Financial Conduct Authority imposed on the company in June, the FCA said Wednesday. Fast facts The FCA had, back in June, issued a warning to Binance Markets Limited and the Binance Group and imposed […]
![Bitcoin bulls brace. CryptoPunks’ pulling power. China’s crypto lawfare. 29 Bitcoin’s rise corrals other coins](https://forkast.news/wp-content/uploads/2021/08/Bull-Wallstreet-1260x732.jpg)
Bitcoin bulls brace. CryptoPunks’ pulling power. China’s crypto lawfare.
Top blockchain and crypto news: Is another Bitcoin bull run coming soon? Punks rocking NFTs. Why crypto contracts may not be enforceable in China.
![Dark web tool Antinalysis is back and openly available on the internet 30 Dark web, Antinalysis is back](https://forkast.news/wp-content/uploads/2021/08/Untitled-design-1260x945.png)
Dark web tool Antinalysis is back and openly available on the internet
The previous version of Antinalysis, which was based on the AMLBot API, was shut down but within a week it has respawned not just on the darknet but also on the clearnet.
![Thai SEC proposes new rules for digital asset custodians 31 fingers holding a bitcoin](https://forkast.news/wp-content/uploads/2021/08/bitcoin-3-1260x633.jpg)
Thai SEC proposes new rules for digital asset custodians
Thailand’s Securities and Exchange Commission (SEC) on Wednesday launched a public consultation on its proposed amendments to regulations for the custody of crypto holdings in digital asset businesses. Fast facts The additional regulations — which the SEC said are intended to enhance investor protection — include requiring digital asset businesses to comply with “the principles […]
![Hong Kong’s Resources Capital Football Club kicks off NFT goals 32 Hong Kong’s Resources Capital Football Club](https://forkast.news/wp-content/uploads/2021/08/RCFC-DSC07628-1260x840.jpg)
Hong Kong’s Resources Capital Football Club kicks off NFT goals
The team joins a growing number of football clubs around the world launching non-fungible tokens (NFTs) as they look to engage fans and generate new revenue streams.
![Guangzhou court uses blockchain for online cross-examination 33 Court gavel on keyboad, China is adopting blockchain evidence](https://forkast.news/wp-content/uploads/2021/08/laptop-computer-with-legal-court-gavel-on-keyboard-7JRLR6A-1260x840.jpg)
Guangzhou court uses blockchain for online cross-examination
In a legal first for the region, the Guangzhou Intermediate People’s Court used a new blockchain system in a lending dispute case so the parties can submit evidence and do cross-examination online. Fast facts The “blockchain electronic cross-examination system” allows each side to upload its evidence online. The opposing party, under the judge’s supervision, can cross-examine the […]
![Celsius Network grows 1,900% this year, US$20B AUM 34 Celsius pays off USDC loan on Aave, unlocks over US$41 7 million in collateral](https://forkast.news/wp-content/uploads/2021/08/celsius-network-assets-defi-1260x709.png)
Celsius Network grows 1,900% this year, US$20B AUM
In another sign of decentralized finance’s continued growth, Celsius Network has just announced it now has more than US$20 billion in assets under management – making it one of the largest DeFi platforms in the world. Fast facts These figures came from Celsius’ most recent quarterly internal audit, according to a company press release, which […]
![Crypto bank in South Korea says it aims to comply with strict but unclear new law 35 Sandbank, A virtual asset bank in South Korea | Sandbank aims to comply with Korea's strict yet unclear regulations](https://forkast.news/wp-content/uploads/2021/08/스크린샷-2021-08-25-오후-1.06.22-1260x608.png)
Crypto bank in South Korea says it aims to comply with strict but unclear new law
Sandbank, a South Korean bank for virtual assets, says it is in the process of acquiring the necessary certification needed to legally operate in the country. However, the financial authorities have yet to decide whether their requirements apply to crypto banks. Fast facts In an announcement, Sandbank told its customers it has put acquiring the […]
![Dogecoin is going to the dogs, including real-world canines 36 DogeLasers](https://forkast.news/wp-content/uploads/2021/08/FF_Dogenations-1260x709.jpg)
Dogecoin is going to the dogs, including real-world canines
Just as Dogecoin prices are once again going to the dogs, a Chicago animal shelter is asking for DOGE donations to help real-life dogs in the dumps. Fast facts PAWS Chicago has launched a “Dogenation” campaign, which allows animal lovers to donate to the charity in cryptocurrencies — not just Dogecoin — via QR codes […]
![Vogue Singapore catwalks to a metaverse with NFT launch 37 From left to right: ‘The RenaiXance Rising’ by The Fabricant and Shavonne Wong; Olivier Rousteing’s sketches of the ‘Flame Dress’](https://forkast.news/wp-content/uploads/2021/08/Vogue-Singapore-NFTs-1260x709.jpg)
Vogue Singapore catwalks to a metaverse with NFT launch
The magazine unveils two digital-only covers as well as fashion, beauty and design NFTs, all for sale in a new metaverse.
![Fetch.ai brings AI and machine learning to NFT creators 38 NFT art generated by Fetch.ai's blockchain](https://forkast.news/wp-content/uploads/2021/08/Fetch-NFT.jpg)
Fetch.ai brings AI and machine learning to NFT creators
Fetch.ai, an artificial intelligence lab based in the British city of Cambridge, today announced the launch of its new non-fungible token (NFT) platform, Colearn Paint, that will allow creators to automatically generate NFTs using a machine learning algorithm. Fast facts Alongside the surge in NFT sales over the past year, NFT marketplaces have proliferated. According […]
![Court in China says trading in cryptocurrency ‘not protected by law’ 39 China Bitcoin](https://forkast.news/wp-content/uploads/2021/08/China-Bitcoin.png)
Court in China says trading in cryptocurrency ‘not protected by law’
The ruling by Shandong’s High Court backs up China’s official stance against trading in cryptocurrencies. What does this mean for investors?
![Former South Korea presidential advisor sentenced for crypto scam 40 Seoul Central District Court | Former presidential campaign committee member sentenced to jail for crypto scam](https://forkast.news/wp-content/uploads/2021/08/gettyimages-1232429829-594x594-1.jpg)
Former South Korea presidential advisor sentenced for crypto scam
A South Korean professor, formerly a committee member in current president Moon Jae-in’s presidential campaign, has been sentenced to two years in prison for promoting a scam cryptocurrency. Fast facts According to local reports, the professor and former advisor to Moon Jae-in’s 2017 electoral campaign was sentenced to two years in jail on fraud charges […]
![CryptoPunk NFTs smash records as VISA purchases a CryptoPunk for US$150K 41 CryptoPunks](https://forkast.news/wp-content/uploads/2021/08/punk-variety-2x.png)
CryptoPunk NFTs smash records as VISA purchases a CryptoPunk for US$150K
CryptoPunks sales volume increased by over 1,100% in the last 24 hours
![Why institutional investors cannot afford to ignore DeFi 42 Bitcoin on dollar banknotes, institutional investors should not missed De-Fi](https://forkast.news/wp-content/uploads/2021/08/dollar-banknotes-and-bitcoins-on-a-wooden-table-PC4R3MW-1260x840.jpg)
Why institutional investors cannot afford to ignore DeFi
Much of traditional finance still believes DeFi is too risky and not worth the bother, writes Ilia Maksimenka of PlasmaFinance. Are these perceptions accurate?
![Bitcoin miners may soon face tougher digging 43 Bitcoin mining](https://forkast.news/wp-content/uploads/2021/08/Bitcoin-mining.png)
Bitcoin miners may soon face tougher digging
As the crypto hashrate continues to recover, miners will likely have to work harder for their coins.
![Ripple: SEC ex-chief Hinman’s views on XRP are ‘dubious’ 44 XRP cryptocurrency](https://forkast.news/wp-content/uploads/2021/08/XRP-1-1260x709.jpg)
Ripple: SEC ex-chief Hinman’s views on XRP are ‘dubious’
Ripple also challenges SEC’s use of ‘deliberative process privilege’ to prevent agency documents on Bitcoin, Ethereum and XRP from disclosure.
![Poly Network hackers return remaining stolen assets 45 Poly Network hacking saga ends](https://forkast.news/wp-content/uploads/2021/08/kevin-ku-w7ZyuGYNpRQ-unsplash-1260x945.jpg)
Poly Network hackers return remaining stolen assets
The Poly Network hacking saga has finally reached a happy ending with the crypto thieves releasing the last key to the remaining funds of 28,953 Ether and 1,032 Wrapped Bitcoin tokens, worth approximately US$141 million, on Monday. According to Poly Network, the company is in the process of returning full asset control to users, although […]
![Futures exchange pays e-CNY for warehousing fees 46 Dalian cross sea bridge,Dalian Commodity Exchange pay e-CNY for warehousing fees in the futures trading](https://forkast.news/wp-content/uploads/2021/08/dalian-cross-sea-bridge-PJYXP35-1260x840.jpg)
Futures exchange pays e-CNY for warehousing fees
Dalian Commodity Exchange paid storage fees to a delivery warehouse in the form of e-CNY, the first time applying central bank digital currency (CBDC) in futures trading. Fast facts According to the report, Dalian Liangyun Group, which received the e-CNY warehousing fees, said that e-CNY transfer has no inter-bank transfer fees, and it would not […]
![Iran expected to lift Bitcoin mining ban next month 47 Iran](https://forkast.news/wp-content/uploads/2021/08/Iran-f.jpg)
Iran expected to lift Bitcoin mining ban next month
Iran, which imposed a temporary ban on Bitcoin mining a few months ago, is expected to lift the prohibition next month, according to local media reports. Fast facts The Iran Power Generation, Distribution and Transmission Company told the state-run ISNA that the ban will be lifted on Sept. 22, local English media Financial Tribune reported. […]
![Philippines wants to tax Axie Infinity and players' earnings 48 Axie Infinity, The Philippines wants to tax Axie Infinity and its players' earnings](https://forkast.news/wp-content/uploads/2021/08/1f9lGB2CdZNWlBofvtgL35Q-1260x630.png)
Philippines wants to tax Axie Infinity and players’ earnings
With play-to-earn crypto games like Axie Infinity continuing to attract users, tax authorities in the Philippines are looking into taxing such blockchain-based game companies as well as the income earned by users on such platforms, according to a report by the Manila Bulletin. Fast facts Philippines’ finance undersecretary Antonette C. Tionko said earnings from these […]
![USDC to be 100% backed by cash, US Treasuries 49 Circle](https://forkast.news/wp-content/uploads/2021/08/FF_Circle-1260x1260.jpg)
USDC to be 100% backed by cash, US Treasuries
Circle, issuer of the world’s second-largest stablecoin USDC, has announced plans to be 100% backed by cash and short-term U.S. Treasuries by September. The company’s most recent attestation showed USDC’s US$22.2 billion supply was backed by only 61% “cash and cash equivalents.” Fast facts Circle had indicated earlier in the month that it wishes to […]
![El Salvador rolls out 200 Bitcoin ATMs ahead of nationwide adoption 50 BTC ATMs](https://forkast.news/wp-content/uploads/2021/08/FF_Chivo-1260x709.jpg)
El Salvador rolls out 200 Bitcoin ATMs ahead of nationwide adoption
In preparation for El Salvador adopting Bitcoin as legal tender, the nation is rolling out 200 ATMs and preparing 50 bank branches across the nation to allow residents to exchange crypto for fiat easily, President Nayib Bukele has announced over the weekend via Twitter. Fast facts With El Salvador’s Bitcoin adoption bill coming into effect […]
![Solana sees investment inflows of $7M, largest of any digital asset: CoinShares 51 bitcoin cryptocurrency](https://forkast.news/wp-content/uploads/2021/08/bitcoin-2-1260x709.jpg)
Solana sees investment inflows of $7M, largest of any digital asset: CoinShares
After six consecutive weeks of outflows, institutional sentiment for digital assets is turning, with net inflows of US$21 million last week, according to CoinShares, Europe’s largest digital assets fund manager. Fast facts Total assets under management (AUM) across all digital asset fund providers rose to US$57.3 billion, the highest since mid-May, driven by the recent […]
![Shaanxi Expressway accepts digital yuan as tolls 52 The capital city of Shaanxi, Xi'an, it's iconic bell tower at dusk. Now Shaanxi Province accepts e-CNY as toll fee, and plan to popularize it to the whole province](https://forkast.news/wp-content/uploads/2021/08/xian-bell-tower-at-dusk-PS76SB5-4-1260x1029.jpg)
Shaanxi Expressway accepts digital yuan as tolls
Shaanxi Province has built the province’s first toll lane that supports digital yuan payments; the first payment was successfully made on August 16. Fast facts Shaanxi Province says it will continue to install digital renminbi payment equipment at all expressway toll stations in the province. Shaanxi Province is located in the western inland region of China, and […]
![Digital yuan trials now looking like a 'soft launch' stage 53 e-CNY](https://forkast.news/wp-content/uploads/2021/08/截圖-2021-08-23-下午7.38.30.png)
Digital yuan trials now looking like a ‘soft launch’ stage
China’s high penetration of smartphones, digital-savvy population helps reduce e-CNY testing time, observers say
![Bitcoin price above $50K, Cardano and Solana at all-time highs as crypto market surges 54 Crypto market barchart, Bitcoin, solana and cardano goes up](https://forkast.news/wp-content/uploads/2021/08/cryptocurrency-trading-platform-software-L3426JU-1-1260x569.jpeg)
Bitcoin price above $50K, Cardano and Solana at all-time highs as crypto market surges
Led by Ethereum rivals, crypto prices are in an upswing with over $2.1 trillion in total market cap. Is this the start of another crypto bull run?
![Survey predicts crypto will rival or replace fiat within 10 years 55 Cryptocurrency coins on dollar banknotes, digital assets are expected to rival fiat in 5-10 years](https://forkast.news/wp-content/uploads/2021/08/group-of-cryptocurrency-coin-on-dollar-banknotes-b-S5LU6L4-1260x840.jpg)
Survey predicts crypto will rival or replace fiat within 10 years
Cryptocurrency and other digital assets are expected to rival or displace fiat currencies within the next decade, according to Deloitte’s 2021 Global Blockchain Survey. Fast facts More than three quarters of the 1,280 executives and practitioners surveyed by Deloitte, the global consulting, tax services and auditing firm, think that digital assets “will serve as a […]
![The9 sets up another joint venture to mine crypto in Kazakhstan 56 The9](https://forkast.news/wp-content/uploads/2021/08/the9-logo_750x430.jpeg)
The9 sets up another joint venture to mine crypto in Kazakhstan
The9 Ltd., a Chinese gaming company that only a few months ago pivoted its business to crypto mining, is setting up another joint venture in Kazakhstan as it ramps up its mining operations in the Central Asian nation that shares a border with China. Fast facts Nasdaq-listed The9 has signed an investment memorandum through a subsidiary […]
![Bit Digital reports growing losses as it moves crypto miners from China to North America 57 Bit Digital](https://forkast.news/wp-content/uploads/2021/08/BIT-Digital-1260x610.png)
Bit Digital reports growing losses as it moves crypto miners from China to North America
Bit Digital, a New York-headquartered Bitcoin mining company that has had significant operations in China, recorded growing losses in the second quarter of this year as it continued relocating its China-based machines to North America. Fast facts In the second quarter of this year, Nasdaq-listed Bit Digital booked a net loss of US$1.34 million, compared […]
![Liquid crypto exchange hackers use ETH mixer to evade detection 58 Hacker](https://forkast.news/wp-content/uploads/2021/08/FF_Hacker-1260x721.jpg)
Liquid crypto exchange hackers use ETH mixer to evade detection
The hunt for hackers who stole an estimated US$97 million from the Japanese crypto exchange Liquid last week has hit some snags as the cybercriminals have been actively hiding their tracks with a crypto mixing tool as they move to transfer their loot into other wallets. Fast facts According to public blockchain information on Etherscan, […]
![Taiwanese startup XREX raises $17 million to advance crypto payment services 59 XREX co-founders](https://forkast.news/wp-content/uploads/2021/08/XREX-co-founders-1260x840.jpg)
Taiwanese startup XREX raises $17 million to advance crypto payment services
XREX’s fundraise reflects Taiwan’s ambition to be part of fintech and blockchain innovation in spite of the island’s strict banking regulations.
![Binance taps former SGX chief regulatory officer as Singapore CEO 60 Singapore Richard Teng](https://forkast.news/wp-content/uploads/2021/08/Singapore-Richard-Teng-1260x709.jpg)
Binance taps former SGX chief regulatory officer as Singapore CEO
Binance Singapore today announced the appointment of Richard Teng, former chief regulatory officer of the Singapore Exchange (SGX), as chief executive, bolstering its leadership ranks with former regulators while battling growing regulatory woes around the world. Fast facts Teng was CEO of the Abu Dhabi Global Market for six years before stepping down in March. […]
![As China cracks down on crypto, blockchain technology keeps flowering 61 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)
As China cracks down on crypto, blockchain technology keeps flowering
Steelmaker Ansteel Group and lithium battery producer Tianneng are the latest companies to make use of blockchain in accordance with China’s national strategy.
![Binance imposes mandatory KYC for all services with immediate effect 62 KYC](https://forkast.news/wp-content/uploads/2021/08/KYC-1260x709.jpg)
Binance imposes mandatory KYC for all services with immediate effect
Beset by legal and regulatory woes around the world, Binance — the world’s largest cryptocurrency exchange by trading volume — today announced that it is implementing mandatory know-your-customer (KYC) with immediate effect as it steps up its anti-money laundering (AML) compliance. Fast facts All new Binance users are now required to complete “intermediate verification” — which […]
![Digital securities exchange ADDX join Investcorp to offer tokenized US real estate fund 63 real estate, ADDX and Investcorp tokenise US real estate fund](https://forkast.news/wp-content/uploads/2021/08/brian-babb-XbwHrt87mQ0-unsplash-1260x841.jpg)
Digital securities exchange ADDX join Investcorp to offer tokenized US real estate fund
ADDX, a digital securities exchange headquartered in Singapore formerly known iSTOX, has partnered with Investcorp, a Bahrain-based alternative investment management firm to offer a tokenized real estate fund focused on residential properties in the United States, ADDX announced on Thursday. Fast facts Investcorp raised US$150 million for the fund that has invested in five multi-family […]
![Come next month, will all of South Korea's crypto exchanges hit a regulatory wall? 64 Golden bitcoins and South Korea flag | Zero exchanges in Korea ready for impending deadlin](https://forkast.news/wp-content/uploads/2021/08/golden-bitcoins-and-south-korea-flag-PNHDMAM-1260x840.jpg)
Come next month, will all of South Korea’s crypto exchanges hit a regulatory wall?
Despite a looming compliance deadline, currently there are no crypto exchanges in South Korea that meet the new government reporting requirements to continue operating, according to financial authorities. Fast facts The Financial Services Commission (FSC) revealed through a press release that none of the domestic cryptocurrency trading platforms have successfully complying with the nation’s new […]
![Aussie tech entrepreneur offers Bitcoin to those vaccinated against Covid 65 Schebesta](https://forkast.news/wp-content/uploads/2021/08/FF_Schebester-1260x711.png)
Aussie tech entrepreneur offers Bitcoin to those vaccinated against Covid
Finder.com CEO Fred Schebesta is offering AU$5 (US$2.85) worth of Bitcoin to every Australian who is fully vaccinated against Covid-19. Fast facts Announcing the plan on Sydney radio this week, the self-made millionaire said he was looking for a way to contribute to the vaccination effort and thought this could be a way to help. […]
![Coinbase partners with Mitsubishi UFG for entry to Japan 66 Japan](https://forkast.news/wp-content/uploads/2021/08/FF_Japan2-1260x709.jpg)
Coinbase partners with Mitsubishi UFG for entry to Japan
The largest cryptocurrency exchange in the U.S. has partnered with one of Japan’s largest banks to gain market entry. What does the move say about the Japanese market as the industry is rocked by yet another crypto exchange hack?
![Canadian regulator seeks enforcement action against crypto exchange OKEx 67 Ontario buildings](https://forkast.news/wp-content/uploads/2021/08/Ontario-buildings-1260x840.jpg)
Canadian regulator seeks enforcement action against crypto exchange OKEx
The Ontario Securities Commission (OSC) is seeking to bring an enforcement action against Aux Cayes Fintech Co. Ltd., which operates the OKEx platform, for allegedly violating Ontario securities law, according to a statement. Fast facts According to the statement of allegations filed by the OSC’s enforcement team on Aug. 18, Seychelles-incorporated Aux Cayes — which […]
![Thai-listed Brooker Group reports $24 million in crypto holdings in 1H 2021 68 cryptocurrency bitcoin](https://forkast.news/wp-content/uploads/2021/08/bitcoin-1-1260x840.jpg)
Thai-listed Brooker Group reports $24 million in crypto holdings in 1H 2021
The Brooker Group, a publicly listed financial consultancy and capital management company in Bangkok, this week reported that it held US$23.86 million of digital assets, according to its financial results for the first six months of 2021. Fast facts The Brooker Group also reported an impairment loss of US$12 million in the first half of […]
![Justin Sun's Weibo account blocked again 69 justin sun feature image](https://forkast.news/wp-content/uploads/2020/06/justin-sun-feature-image.jpg)
Justin Sun’s Weibo account blocked again
TRON founder Justin Sun’s social media account on Weibo, China’s Twitter-like microblog platform, appears to have been blocked again, along with the accounts of several other cryptocurrency-related interests. Fast facts TRON is a blockchain with a cryptocurrency native to the system founded by Sun in 2017. Sun, 31, has been active on social media, and […]
![Cardano hits new all-time high as upcoming smart contracts send ADA into new price discovery 70 Cardano hits new high price](https://forkast.news/wp-content/uploads/2021/05/FF_Cardano.jpg)
Cardano hits new all-time high as upcoming smart contracts send ADA into new price discovery
Cardano’s Alonzo upgrade is fueling ADA’s price growth into top-3 cryptocurrency. Major crypto players are now also signaling bullishness on Cardano.
![Calling Poly Network incompetent, upset hackers refuse to give back remaining $141M 71 hacker, Poly Network recovers US$427 million](https://forkast.news/wp-content/uploads/2021/08/pexels-anete-lusina-5240547-1260x841.jpg)
Calling Poly Network incompetent, upset hackers refuse to give back remaining $141M
The Poly Network hackers have returned assets worth around US$427 million, the company announced on Thursday. But hackers accused the company of “incompetency” and are refusing to give back the rest of the loot. Fast facts The hackers had transferred the stolen assets worth over US$600 million in total to mutli-signature wallets controlled by the […]
![China shuts down website and social media of high-profile blockchain center 72 China](https://forkast.news/wp-content/uploads/2021/08/GettyImages-457951404.jpg)
China shuts down website and social media of high-profile blockchain center
China continues its crackdown on certain illegal social organizations, as authorities shut down the website and social media accounts of the China Blockchain Application Center — a organization once led by some of the nation’s most prominent crypto industry leaders, state media China National Radio reported yesterday. Fast facts The China Blockchain Application Center was […]