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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 […]

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 […]

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 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 […]

China’s high penetration of smartphones, digital-savvy population helps reduce e-CNY testing time, observers say

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?

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 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, 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 […]

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, […]

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 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. […]

Steelmaker Ansteel Group and lithium battery producer Tianneng are the latest companies to make use of blockchain in accordance with China’s national strategy.

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 […]

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 […]

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 […]

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. […]

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?

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 […]

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 […]

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’s Alonzo upgrade is fueling ADA’s price growth into top-3 cryptocurrency. Major crypto players are now also signaling bullishness on Cardano.

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 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 […]

Aleph.im, a cross-blockchain storage and computing network, announced today the release of a decentralized indexing tool for the Solana blockchain ecosystem. Fast facts

Crypto traders who suffered losses on Binance due to tech outages are turning to arbitration and crypto litigation finance.

As ESG drives more corporate agendas, Sonic Capital’s Sphere aims to provide access to blockchain investment opportunities toward a greener future.

The Bank of Thailand today published the results of its retail central bank digital currency (CBDC) study and public survey, which the central bank says will guide the development of the country’s CBDC pilot test. Fast facts The Bank of Thailand underscored that a CBDC for the general public “must not adversely affect monetary policy […]

A district court in Shanghai has ruled that Bitcoin is virtual property, not a currency that is allowed to circulate, according to a statement released earlier this week. Fast facts A Minhang district court in Shanghai stated this week that it heard a case in which a plaintiff purchased Bitcoin mining machines from a defendant […]

The central bank of the Netherlands has issued a warning that Binance — the largest cryptocurrency exchange in the world by trading volume — is illegally operating in the country. Fast facts Binance is providing crypto services in the Netherlands without the required legal registration with De Nederlandsche Bank (DNB), according to the regulator. “This […]

In what will likely be a relief for many Salvadorans, El Salvador’s finance minister said the use of BTC will remain “totally optional” and businesses will not be sanctioned for not using it when the country’s controversial BTC law comes into effect on Sept. 7, reports Yahoo News. Fast facts The country’s adoption of BTC […]

Top blockchain and crypto news: A darkweb stain is scrubbed away. Solana’s moment in the sun. Alibaba huddles with Tencent.

Money laundering token tracer developed using AMLBot application programming interface was suspended within eight hours of public exposure.

Despite having verified it, and with investors already spending millions on the project, OpenSea has delisted the NFT series after being notified by its creator.

Operating costs and crypto bear market suck up cash after former lottery operator bets on digital assets

Asia is now tops in the world in cryptocurrency adoption. Vietnam, India and Pakistan are now the top three countries in the world in crypto use — and other Asian countries aren’t far behind, according to Chainalysis’ 2021 Global Crypto Adoption Index published today. Fast facts Thailand, China and the Philippines also ranked in the […]

The Securities and Exchange Board of India, a markets watchdog, has asked depositories to employ blockchain to record and monitor the creation of securities and covenants involving non-convertible securities, according to a report by Livemint. Fast facts SEBI formed a group in November to suggest ways to strengthen the process of creating and monitoring securities, […]

In China, digital yuan testing, which increasingly looks like a soft rollout, is continuing full steam ahead, with more banks allowing their customers to top up their e-CNY wallets. Fast facts An additional 13 banks have started to allow their customers to recharge their wallets directly in the e-CNY app, bringing the total number of […]

Bybit, a cryptocurrency exchange based in Singapore, announced today a multi-year partnership with popular esports team NAVI (“Natus Vincere”), which will display Bybit’s logo on NAVI’s jerseys as well as charity initiatives, school projects, and anti-hate and anti-bullying campaigns. Fast facts “The Covid-19 pandemic has changed many established conventions in a number of human experiences,” […]

Poly Network wants to hire the hacker who stole over US$600 million worth of tokens from the platform last week — as its chief security advisor, according to a tweet by the company. Fast facts In response to the job offer, the hacker posted a joke on the Ethereum blockchain that was shared in a […]

Binance — the world’s biggest cryptocurrency by trading volume — today announced the appointment of Greg Monahan, a former U.S. Treasury criminal investigator, as its global anti-money laundering officer, according to a company statement. Fast facts Monahan’s appointment comes as Binance seeks to bolster its compliance efforts amid increasing scrutiny from regulators around the world — […]

BC Technology Group, a Hong Kong-listed technology digital asset company and parent of OSL, the first licensed digital asset platform in the city, today announced that its group revenues rose 54% year on year to HK$153 million (US$20 million) in the first half of 2021, driven by a 70% increase in OSL’s digital asset business […]

IBM Japan, Mitsui Chemicals and Nomura Research Institute have announced a new consortium to explore how blockchain technology can be used to create better plastic recycling methods, according to a press release from the NRI. Fast facts Making new plastics from recycled plastics is an exact process that requires knowing the specific chemical makeup of […]

Following a few years of inactivity, the Dogecoin Foundation is being reestablished with Ethereum co-founder Vitalik Buterin serving as the organization’s “blockchain and crypto adviser,” according to an announcement posted Tuesday on the foundation’s website. Fast facts Originally founded in 2014, the non-profit organization aims to support the Dogecoin ecosystem and community with a particular […]

With the Taliban takeover of Afghanistan capturing headlines around the world, Jack Butcher, the founder of New York-based graphic design agency Visualize Value, has partnered with the Cooperative for American Remittances (CARE) humanitarian charity to launch a non-fungible token fund to provide “care packages” to displaced Afghan families. Fast facts The NFT care packages are […]

Union Bank of the Philippines and Hex Trust, a Hong Kong-based digital asset custodian, today announced that the bank was partnering with Hex Trust to provide digital asset custody services to it as it enters the digital asset sector. Fast facts As part of the collaboration, Hex Trust will provide digital asset custody as an […]

Notwithstanding Iron Finance’s collapse, stablecoins can play important roles for consumers and the economy, writes Julian Hosp of Cake DeFi.

If cabinet approves crypto bill by November, it could be introduced as early as parliament’s winter session.

Ripple claims the SEC’s request for 1 million more of the company’s internal messages is costly and unlikely to resolve disputes at the heart of the litigation.

The number of digital yuan patents is growing, with patent applications related to digital currency numbering 271 since the beginning of last year, data compiled by Mpaypass.com show, as tests of e-CNY continue under the Chinese government’s watchful eye. Fast facts The data shows that the total number of patent applications since 2020 has surpassed […]

Twitter’s much anticipated decentralized social media standard, Bluesky, finally has a project lead in crypto developer Jay Graber, Graber announced yesterday on her own Twitter account. Fast facts Bluesky was announced in late 2019, and Twitter CEO Jack Dorsey said decentralization could address some of the key issues surrounding social media, such as moderation. “Centralized […]

Accessibility of Alibaba Auction through Tencent’s WeChat service hints at closer relationship between two longtime rivals.

The hackers claim that trust issues with the Poly Network team are slowing down the complete handover of stolen assets.

In another criticism of El Salvador’s planned Bitcoin adoption, global credit scoring agency Fitch Ratings has warned the move will likely adversely affect credit ratings of the country’s insurance sector, due to heightened foreign exchange and earnings volatility risk. Fast facts Fitch Ratings explained in a press release on Monday that once a law comes […]

Non-fungible tokens are taking the art and collectibles world by storm. But more valuable uses for NFTs lie just around the corner, writes Ilja Laurs of Dappscape.

South Korean internet giant Kakao this week announced that its newly established non-profit entity headquartered in Singapore — the Klaytn Foundation — will lead the development and global expansion of the Klaytn blockchain, according to a company release. Fast facts The Klaytn Foundation, together with Krust, Kakao’s newly established global accelerator unit, and GroundX, which […]

U.S. software behemoth Microsoft is looking to develop anti-piracy measures on Ethereum using research from Chinese internet giant Alibaba and Carnegie Mellon University, according to a paper released by Microsoft’s research department. Fast facts Partnering with Alibaba and Carnegie Mellon, Microsoft says the new system — dubbed “Argus” — will run on a public blockchain […]

Digital asset investment products saw outflows of US$22 million last week — the sixth consecutive week of outflows, according to CoinShares, Europe’s largest digital assets fund manager. Fast facts Total outflows for the past six weeks amount to US$115 million and mark the longest run of consecutive outflows since January 2018, CoinShares reported. However, the […]

Solana prices are soaring to all-time highs and SOL is now a top-10 crypto. In this Forkast.News explainer, learn why investors are heaping love on this Ethereum rival.

A new report by DappRadar shows that interest in NFTs has come mainly from the United States and Indonesia, and that Russia and India have a presence in the market as well. Fast facts DappRadar, an NFT and decentralized finance and decentralized app store and a data provider, revealed this month in its user behavior […]

In welcome news for the U.S. crypto industry, the Treasury Department is slated to clarify that only crypto companies that fit its definition of “brokers” will have to comply with new tax reporting requirements outlined in the country’s US$1 trillion infrastructure bill, Bloomberg reports. Fast facts Quoting an anonymous Treasury source, Bloomberg reported that crypto […]

HIVE Blockchain Technologies, a Vancouver-headquartered crypto mining company, is buying 1,800 machines from Chinese mining rig maker Bitmain to expand its mining operation. Fast facts HIVE said that it had ordered 1,800 Antminer S19j Pro miners from Bitmain, and the new machines are expected to bring an aggregate hash power of 180 petahash per second, […]

Chinese tech giant Tencent’s music streaming arm, QQ Music, has jumped on the non-fungible token bandwagon and over the weekend sold out its first NFT featuring popular Mando-pop singer Tiger Hu. Fast facts QQ Music, one of China’s major music entertainment platforms, plans to roll out a slew of music NFTs. Over the weekend, all […]

Cardano breached the US$2 mark for the first time in almost three months as key developers announced a release date for the planned “Alonzo” hard fork on Friday, which will allow full smart contract functionality on the network. Fast facts Slated for full release on September 12, the upgrade to Cardano’s mainnet completes the Alonzo […]

Asian nations are leading the world in retail crypto investment, according to a recent report by Finder.com, which found that of 27 countries surveyed, the top five were all in Asia. Fast facts Vietnam was by far the leader in crypto adoption, with 41% of respondents saying they owned at least one cryptocurrency. Indonesia and […]

Solana price hits new record and enters top 10, beating Uniswap, following launch of blockchain communication bridge Wormhole and sellout debut of Degenerate Ape NFTs.

Hermez Network, a prominent zero-knowledge cryptography-based scaling project, will merge with India-based Polygon, an Ethereum scaling project, Polygon announced on Friday. Fast facts Polygon has initiated the process of merging Hermez, including its technology, team, live solutions and HEZ tokens into its ecosystem. Hermez will operate under the name Polygon Hermez as a part of […]

GoSats, an Indian Bitcoin rewards app, has launched a new cash back card that will allow Indians to earn up to 100% of their spending in Bitcoin and provide a chance to win one full Bitcoin on every spend, GoSats announced in a tweet. Fast facts The GoSats prepaid RuPay debit cards will be released […]

While Delhi goes back and forth over a crypto ban, crypto’s huge growth potential in the world’s second most populous country is captivating American venture capital.

As cryptocurrencies gain increasing adoption, the profile of crypto investors in Singapore — one of Asia’s biggest hubs for traditional finance as well as the emerging crypto industry — is broadening from younger investors to mature investors who see crypto as a viable long-term investment, according to the State of Crypto in Singapore report published today. […]

Gold and cryptocurrency have more in common than not, and savvy investors would do well to hold both, writes Sylvia Carrasco of Goldex.

Taiwanese VC firm attracts big investors as it bets on future of region and staying-power of NFTs.