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![Why honest centralization is superior to chaotic decentralization 1 Standing on the ground full of arrows, honest centralized decision better than chaotic decentralized decision](https://forkast.news/wp-content/uploads/2021/08/taking-decisions-for-the-future-PUQPG57-1260x840.jpg)
Why honest centralization is superior to chaotic decentralization
Are DAOs and decentralization always beneficial for the group or the user? Antoni Trenchev of Nexo urges you to think again.
![Chinese DeFi platform Poly Network suffers US$600M hack 2 ransomware 2321110](https://forkast.news/wp-content/uploads/2021/08/ransomware-2321110-1260x835.jpg)
Chinese DeFi platform Poly Network suffers US$600M hack
Impact of one of the biggest heists in the industry looks set to be mitigated as hackers agree to return funds.
![BitMEX pays US$100M to settle AML, KYC compliance breach charges 3 Höptner](https://forkast.news/wp-content/uploads/2021/08/FF_Bitfinex2.1-1-1260x679.png)
BitMEX pays US$100M to settle AML, KYC compliance breach charges
After nearly a year under investigation, crypto exchange and derivatives trading platform Bitmex has agreed to pay as much as US$100 million to settle charges brought by the U.S. Commodity Futures Trading Commission and the Financial Crimes Enforcement Network, according to a company blog post. Fast facts Alex Höptner, BitMEX’s CEO, told Forkast.News in a […]
![Cardano ADA surges 20% with smart contracts on the horizon 4 Cardano](https://forkast.news/wp-content/uploads/2021/08/FF_CardanoFinish-1260x709.jpg)
Cardano ADA surges 20% with smart contracts on the horizon
As Cardano’s Alonzo Purple upgrade launches and the full roll-out of smart contract support is teased, the price of ADA — the native cryptocurrency of the Cardano blockchain network — surged more than 20% in the past 24 hours. ADA was trading at US$1.71 at press time — its highest in over two months, according to […]
![NFTs and the music industry: K-pop's new token economy | Part 2 5 Brave Girls, Se7en](https://forkast.news/wp-content/uploads/2021/08/Copy-of-Thumbnail-template-1-2.png)
NFTs and the music industry: K-pop’s new token economy | Part 2
K-pop superstars Brave Girls, Se7en and A.C.E. are among the latest to jump on the non-fungible token bandwagon. Are fans buying it?
![US Senate passes $1 trillion infrastructure bill with crypto tax requirements 6 Congress](https://forkast.news/wp-content/uploads/2021/08/FF_Infrastruture-1260x840.jpg)
US Senate passes $1 trillion infrastructure bill with crypto tax requirements
Despite strong lobbying attempts from the crypto industry for last-minute amendments, the Biden administration’s US$1 trillion infrastructure bill passed the Senate last night with heightened tax reporting requirements for crypto “brokers” and possible ramifications for crypto miners, as Yahoo News reports. Fast facts A compromise amendment requiring unanimous consent to be added to the bill […]
![SEC seeks 1 million Slack messages from Ripple for XRP litigation 7 SEC, Slack and Ripple logos](https://forkast.news/wp-content/uploads/2021/08/SEC_Slack_Ripple_logos-1260x709.jpg)
SEC seeks 1 million Slack messages from Ripple for XRP litigation
The US Securities and Exchange Commission wants to review ‘terabytes’ of Ripple’s Slack chats for evidence of XRP-related wrongdoing. How much is too much?
![Hong Kong artists embrace NFTs as OpenSea trading volume explodes 8 Szabotage and Valentina Loffredo Hong Kong NFT Artists, Hong Kong artists are exploring NFTs as the market booms](https://forkast.news/wp-content/uploads/2021/08/Szabotage-Valentina-Loffredo-Hong-Kong-NFT-Artists.png)
Hong Kong artists embrace NFTs as OpenSea trading volume explodes
Despite speculation that the NFT market is cooling, OpenSea continues to post record transaction volumes, and Hong Kong artists are getting in on the action.
![Tencent blockchain applet IOU accused of breaking Chinese competition law 9 Wechat application's icon on a phone, tencent's blockchain iou applet was alleged as monopoly](https://forkast.news/wp-content/uploads/2021/08/IMG_20210810_161651-1-1260x757.jpg)
Tencent blockchain applet IOU accused of breaking Chinese competition law
Chinese blockchain company RongxinChain has alleged that Tencent’s IOU applet is operating in breach of the country’s Unfair Competition Law, according to a report by the Shenzhen Baoan District Credit Promotion Association. Fast facts Tencent’s IOU blockchain applet went online in July on the company’s “super app,” Wechat, allowing users to issue legally valid IOUs […]
![India’s CoinDCX crypto exchange becomes unicorn with US$90M in funding 10 cryptocurrencies, India's cryptocurrency exchange CoinDCX becomes unicorn](https://forkast.news/wp-content/uploads/2021/06/cryptocurrency-1260x776.jpg)
India’s CoinDCX crypto exchange becomes unicorn with US$90M in funding
CoinDCX, an Indian cryptocurrency exchange, has become the country’s first crypto unicorn with a US$90 million Series C fundraise, the company announced today. The funding was led by Facebook co-founder Eduardo Saverin’s B Capital. The fresh funding pegs CoinDCX’s valuation at US$ 1.1 billion. Fast facts Founded in 2018, CoinDCX offers a range of crypto […]
![Ethereum investment product market share rises to 26% amid fund outflows 11 Ethereum cryptocurrency](https://forkast.news/wp-content/uploads/2021/08/Ethereum-3-1260x709.jpg)
Ethereum investment product market share rises to 26% amid fund outflows
Despite a recent recovery in crypto prices, digital asset investment products last week saw outflows of US$26 million, according to CoinShares, Europe’s largest digital asset fund manager. It was the fifth consecutive week in which institutional money flowed out of cryptocurrencies, mainly Bitcoin. Fast facts Bitcoin — the largest cryptocurrency by market value — bore […]
![USDC issuer Circle to become full-reserve digital currency bank 12 CryptoGraphs](https://forkast.news/wp-content/uploads/2021/08/FF_CryptoGraphs-1260x840.jpg)
USDC issuer Circle to become full-reserve digital currency bank
Amid a period of increasing regulatory interest in stablecoins, Circle, the digital payment company that issues USDC, the world’s second-largest stablecoin , has announced plans to become a full-reserve national digital currency bank in the U.S. Fast facts In a company blog post, CEO and co-founder Jeremy Allaire said the company was prepared to operate […]
![Bitcoin's price rises above $45K as gold and silver slump 13 BTC](https://forkast.news/wp-content/uploads/2021/08/FF_Bitcoins-1260x732.jpg)
Bitcoin’s price rises above $45K as gold and silver slump
After hovering aroud the US$35,000 mark through most of June and July, Bitcoin’s price has started rising again this past month. In the past 24 hours, Bitcoin’s price broke US$45,000 for the first time since mid-May amid the market-wide crash from the historic highs in April, according to data from CoinMarketCap. Fast facts Conversely, gold […]
![Crypto platform Poloniex agrees to $10M settlement with SEC 14 U.S. Securities and Exchange Commission building](https://forkast.news/wp-content/uploads/2021/08/SEC-building-1260x840.jpg)
Crypto platform Poloniex agrees to $10M settlement with SEC
Cryptocurrency platform Poloniex has agreed to pay more than US$10 million to settle charges for operating an unregistered online digital asset exchange, according to an announcement by the U.S. Securities and Exchange Commission (SEC). Fast facts According to the SEC’s order, Poloniex violated securities laws from July 2017 to November 2019 as the company did […]
![Tether unveils reserves and backing for its USDT stablecoin in new report 15 Tether](https://forkast.news/wp-content/uploads/2021/08/FF_Tether-1260x802.jpg)
Tether unveils reserves and backing for its USDT stablecoin in new report
To assuage critics and to abide by a legal settlement, Tether Holdings Limited, the issuer of the world’s largest stablecoin USDT, has released a report by an independent accountant, which found that Tether’s tokens are 100% backed by its reserves. Fast facts In its review of Tether’s latest Consolidated Reserves Report, Cayman Island-based accounting firm […]
![Unocoin now allows Indians to buy pizza, coffee with Bitcoin 16 arturo rey 5yP83RhaFGA unsplash](https://forkast.news/wp-content/uploads/2021/08/arturo-rey-5yP83RhaFGA-unsplash-1260x709.jpg)
Unocoin now allows Indians to buy pizza, coffee with Bitcoin
Several cryptocurrency payment methods exist around the world, but new service is the first major one of its kind in India.
![Crypto miners set to be snared by U.S. infrastructure bill 17 WASHINGTON, DC - AUGUST 08: The U.S. Capitol Building is seen on August 8, 2021 in Washington, DC. The Senate will vote on amendments for the legislative text of the $1 trillion infrastructure bill ahead of August recess. (Photo by Samuel Corum/Getty Images)](https://forkast.news/wp-content/uploads/2021/08/Infrastructure_CapitolBuilding-1260x840.jpg)
Crypto miners set to be snared by U.S. infrastructure bill
A landmark US$1 trillion infrastructure bill moved one step closer to becoming law on Sunday, notably without carve-outs for cryptocurrency miners and network validators. What does it mean for the industry?
![Crypto exchange Zipmex in Asia-Pacific tie-up with Visa 18 Visa card number, crypto exchange Zipmex integrates payment network with visa](https://forkast.news/wp-content/uploads/2021/08/details-of-a-credit-card-numbers-and-chip-6SEHJZV-1260x840.jpg)
Crypto exchange Zipmex in Asia-Pacific tie-up with Visa
Singapore-headquartered cryptocurrency exchange Zipmex has announced that it has struck a cooperation agreement with Visa. Fast facts The exchange’s payment network, ZipSend, will be integrated into Visa’s global merchant network. Visa will also cooperate with another 50 cryptocurrency platforms. Zipmex plans to launch Visa-branded payment cards later this year. In July, Visa said that its […]
![First SEC DeFi bust made in US$30M fraud case 19 DeFI](https://forkast.news/wp-content/uploads/2021/08/FF_DeFi-1260x840.jpg)
First SEC DeFi bust made in US$30M fraud case
The U.S. Securities and Exchange Commission has taken its first regulatory action involving decentralized finance in a case involving the “unregistered sales of more than US$30 million in securities,” according to an agency press release. Fast facts Gregory Keough and Derek Acree were charged along with their Cayman Islands-based company, Blockchain Credit Partners, over allegedly […]
![Axie Infinity NFT market trade tops US$1B as player numbers surge 20 Axie Infinity Logo](https://forkast.news/wp-content/uploads/2021/08/微信截图_20210809110817-1260x755.png)
Axie Infinity NFT market trade tops US$1B as player numbers surge
Axie Infinity’s founder has announced that the company’s non-fungible token market trading volume hit US$1 billion this morning, having already announced that it had more than 1 million daily active players last Friday. Fast facts DappRadar shows the Axie NFT market now has a trading volume of US$1.126 billion, ranking first among all markets. It […]
![Cardano's Alonzo Purple testnet begins onboarding users 21 Hoskinson](https://forkast.news/wp-content/uploads/2021/08/2-1260x709.jpg)
Cardano’s Alonzo Purple testnet begins onboarding users
Cardano’s much-anticipated Alonzo Purple upgrade has begun onboarding users to its testnet, according to a 12-part Twitter thread by developer Input Output Hong Kong. Fast facts Alonzo Purple is the third and final stage of the Alonzo upgrade, following Blue and White, and when complete will be the first fully public Cardano testnet to support […]
![What is the regulatory outlook for virtual asset exchanges in Hong Kong and Singapore? 22 Regulations book, Hong Kong's provision on crypto asset regulation](https://forkast.news/wp-content/uploads/2021/08/regulations-book-law-rules-and-regulations-concept-DX9P32Z-1260x840.jpg)
What is the regulatory outlook for virtual asset exchanges in Hong Kong and Singapore?
Singapore and Hong Kong are at the forefront of regulations over crypto exchanges, writes Vince Turcotte of Eventus Systems. Here’s why trade surveillance and risk management will be critical.
![Latest digital yuan trial launches with backing of JD.com, Bank of Communications 23 e-CNY](https://forkast.news/wp-content/uploads/2021/08/截圖-2021-08-06-下午5.51.58.png)
Latest digital yuan trial launches with backing of JD.com, Bank of Communications
E-commerce company’s tie-up with government-owned lender suggests hybrid private-state future for central bank digital currency.
![China’s central bank to accelerate digital yuan pilots for Winter Olympics 24 Counting RMB, PBoC said to push forward e-cny for winter olympics](https://forkast.news/wp-content/uploads/2021/08/counting-rmb-by-hand-Q4TXGFN-1260x664.jpg)
China’s central bank to accelerate digital yuan pilots for Winter Olympics
The Business Administration Department at China’s central bank has said it will push forward pilots of the e-CNY digital currency in the Winter Olympics area to cover all payment scenarios. Fast facts To promote the digital yuan for the Winter Games, two batches of e-CNY red packets were distributed in Beijing in February and June, totaling 50,000,000 yuan […]
![TBCASoft raises $25M from Naver, SoftBank 25 TBCASoft](https://forkast.news/wp-content/uploads/2021/08/截圖-2021-08-06-下午6.00.51.png)
TBCASoft raises $25M from Naver, SoftBank
Blockchain startup TBCASoft has announced the initial close of its series-B funding round, raising US$25 million from Naver Financial and SoftBank as it aims to tap more commercial growth. Fast facts U.S.-based TBCASoft announced its latest financing round on Wednesday, led by Naver Financial — the fintech arm of Korean internet giant Naver Corp. — […]
![Cambodian state digital currency sees strong uptake 26 Cambodia](https://forkast.news/wp-content/uploads/2021/08/FF_Cambodia-1260x835.jpg)
Cambodian state digital currency sees strong uptake
Since its launch in October 2020, Cambodia’s central bank digital currency project, Bakong, has reached 5.9 million users across the country, according to a report by Nikkei Asia. Fast facts The figure includes users of member bank mobile apps, with the number of Bakong electronic wallet addresses doubling in June from three months before to […]
![Binance winds down derivatives trading in Hong Kong 27 Binance logo and Hong Kong Victoria Harbour with boat](https://forkast.news/wp-content/uploads/2021/08/Binance-1260x709.jpg)
Binance winds down derivatives trading in Hong Kong
Binance — the world’s largest cryptocurrency exchange by trading volume — today announced that it will be restricting the use of its derivatives products for customers from Hong Kong. Fast facts Hong Kong customers will, with immediate effect, not be able to open new Binance deriviative product accounts, according to a Binance announcement posted at […]
![Ripple expands XRP into NFTs amid escalating legal battles 28 XRP the native cryptocurrency of the XRP Ledger](https://forkast.news/wp-content/uploads/2021/08/XRP-1260x709.jpg)
Ripple expands XRP into NFTs amid escalating legal battles
As court grants CEO request to obtain info from Binance to bolster defense in SEC lawsuit, Ripple seeks to expand use cases for XRP Ledger.
![Indian Olympic medalists to get free cryptocurrencies 29 Gold medal on black with blank face for text, concept for winning or success](https://forkast.news/wp-content/uploads/2021/08/olympic-gold-medal-PNJJ33L-1260x840.jpg)
Indian Olympic medalists to get free cryptocurrencies
Indian athletes who have won medals at the Tokyo Olympics have been promised free cryptocurrencies by Indian crypto exchange Bitbns, according to a report by the Economic Times. Fast facts Bitbns will create systematic investment plans denominated in Bitcoin and Ethereum worth around US$2,695 for gold medalists, US$1,348 for silver medalists and US$674 for bronze […]
![New York Times article explores underbelly of memecoins 30 DOGE](https://forkast.news/wp-content/uploads/2021/08/FF_Doge-1260x840.jpg)
New York Times article explores underbelly of memecoins
A revealing feature article on the hidden world of “hypecoins” was published by the New York Times yesterday, in which journalist David Segal recounted the process of creating and then selling his own hypecoin, which he called IdoitCoin. Fast facts Hypecoins, otherwise known as memecoins, are tokens with little or no intrinsic value, created only […]
![Decentralized music streaming platform Audius reaches 5M users 31 music](https://forkast.news/wp-content/uploads/2021/08/FF_Music-1260x840.jpg)
Decentralized music streaming platform Audius reaches 5M users
As blockchain begins to make its way into more consumer applications, decentralized, Ethereum-based music streaming platform Audius has reached 5 million monthly users for the first time, Yahoo! Finance reports. That milestone makes Audius one of the biggest consumer-centric blockchain applications. Fast facts Launched in 2019, Audius boasts approximately 100,000 artists, including big names such […]
![Ether price and trading volume surging as Ethereum upgrade goes live 32 Ether coin on a stock chart, the ethereum finished the upgrade](https://forkast.news/wp-content/uploads/2021/08/ether-cryptocurrency-on-the-tablet-WUBHEYL-1260x840.jpg)
Ether price and trading volume surging as Ethereum upgrade goes live
Ethereum’s London hard fork sees a smooth launch as the crypto market sends Ether’s price soaring.
![Venezuela launches CBDC amid runaway inflation and currency redenomination 33 Maduro](https://forkast.news/wp-content/uploads/2021/08/FF_Maduro-1260x840.jpg)
Venezuela launches CBDC amid runaway inflation and currency redenomination
In an effort to curb runaway inflation, Venezuela’s central bank is removing six zeros from its currency and putting a digital bolivar into circulation on Oct. 1, according to reporting by Bloomberg. Fast facts An example of a central bank digital currency, the digital bolivar was announced by the Venezuelan central bank’s Twitter account yesterday […]
![Ethereum rising: 3 reasons why Ether’s price could soon break $3,000 34 Ethereum coin with stock graph, ethereum is under frenzy](https://forkast.news/wp-content/uploads/2021/08/ethereum-coin-with-stock-graph-background-digital-FPEJNGK-1260x945.jpg)
Ethereum rising: 3 reasons why Ether’s price could soon break $3,000
Will Google greenlighting US crypto ads, Ethereum’s London upgrade and clearer regulations pave the way for another Ether price rally?
![Google lifts crypto advertising ban 35 Google](https://forkast.news/wp-content/uploads/2021/08/Googlr-1260x840.jpg)
Google lifts crypto advertising ban
In a long-awaited reversal of a 2018 policy decision, Google will allow crypto exchanges and wallets to advertise on its platform in the U.S. But not everyone’s happy.
![Bosch starts machine learning trials with Fetch.ai using AI, blockchain 36 Fetch.ai and Bosch logos](https://forkast.news/wp-content/uploads/2021/08/FetchAI_Bosch-1260x709.jpg)
Bosch starts machine learning trials with Fetch.ai using AI, blockchain
Bosch, a German manufacturing and technology company, today announced that it will be using a decentralized machine learning network built by Fetch.ai, an artificial intelligence lab based in the British city of Cambridge, to predict potential failures in manufacturing machinery. Fast facts The Bosch research team will be initiating machine learning trials on the Fetch.ai […]
![The9 expands to Kazakhstan with new crypto mining joint venture 37 The9](https://forkast.news/wp-content/uploads/2021/08/the9-logo_750x430.jpeg)
The9 expands to Kazakhstan with new crypto mining joint venture
The9 Ltd., a Chinese gaming company that only a few months ago pivoted to crypto mining, has signed a term sheet through a company unit with an enterprise in Kazakhstan to set up a joint venture. The move is a bid to ramp up crypto mining operations in the Central Asian nation. Fast facts Nasdaq-listed […]
![DBS Bank’s digital exchange assets surge 60% in Q2 38 DBS Bank logo and Bitcoin, Ethereum and XRP cryptocurrencies](https://forkast.news/wp-content/uploads/2021/08/DBS-1260x709.jpg)
DBS Bank’s digital exchange assets surge 60% in Q2
DBS eyes bigger investor base as digital assets under custody top US$100 million.
![U.S. infrastructure bill set for possible change following crypto industry backlash 39 US Senate](https://forkast.news/wp-content/uploads/2021/08/FF_Senate-1260x840.jpg)
U.S. infrastructure bill set for possible change following crypto industry backlash
An amendment has been introduced to the US$1 trillion infrastructure bill currently before the U.S. Senate that would exempt bitcoin miners and other validators from a provision seeking to raise funds for its fulfilment, according to a report by CNBC. Fast facts As Forkast.News has reported, the provision sought to raise US$28 billion over the […]
![Binance partners with Shopify and others to offer crypto payments online 40 Binance](https://forkast.news/wp-content/uploads/2021/08/FF_Binance.jpg)
Binance partners with Shopify and others to offer crypto payments online
Amid a turbulent time for the world’s largest crypto exchange, Binance has announced a new partnership with Alchemy Pay to bring crypto payment options to e-commerce platforms such as Shopify. Fast facts Running on the exchange’s Binance Pay feature, the partnership will allow users and merchants to send and receive crypto globally in over 40+ […]
![Rothschild's RIT Capital leads funding round for Aspen Digital to provide crypto services for institutional investors 41 Aspen Digital. Left to Right, Ethan Tong, Yang He, Allen Ng](https://forkast.news/wp-content/uploads/2021/08/Aspen-Digital-1260x840.jpg)
Rothschild’s RIT Capital leads funding round for Aspen Digital to provide crypto services for institutional investors
Hong Kong-based Aspen Digital, a digital asset management platform for institutional investors, announced on Wednesday that it has secured US$8.8 million in pre-A funding to develop a one-stop shop for asset managers to invest in digital assets and manage their clients’ portfolios. Fast facts The funding round was led by RIT Capital Partners, the London-based […]
![Could Ethereum’s upgrade affect miners' manipulations for extra profits? 42 Ethereum](https://forkast.news/wp-content/uploads/2021/08/Ethereum-2-1260x709.jpg)
Could Ethereum’s upgrade affect miners’ manipulations for extra profits?
Cryptocurrency miners are front-running Ethereum transactions to make profits called MEV that critics decry as unfair. What can be done about it?
![How blockchain can bring litigation finance to small investors 43 Judge's mallet and coin bags, is it a good idea to finance litigation supported by blockchain technology](https://forkast.news/wp-content/uploads/2021/08/monitoring-JS8LMQ7-1260x767.jpg)
How blockchain can bring litigation finance to small investors
Investing in litigation was once limited to the wealthy. But a lawsuit’s monetary potential can now be tokenized for sale to the masses. Is that a good idea?
![Taxing times for crypto. Ethereum hard fork takes knife to fees. Tencent bets on NFTs. 44 U.S. Senate Continues Debate On Infrastructure Bill](https://forkast.news/wp-content/uploads/2021/08/US-Senate.jpg)
Taxing times for crypto. Ethereum hard fork takes knife to fees. Tencent bets on NFTs.
Top blockchain and crypto news: Is Ethereum’s price flatlining on eve of revolution? Uncle Sam wants pay to play. China’s Big Tech toes the line with NFTs.
![Two Chinese provinces use state blockchain platform for export credit insurance worth US$3.27B 45 Trading Ship, blockchain platform helps cross-border trade financing](https://forkast.news/wp-content/uploads/2021/08/trading-ship-TNXAS3S-1260x840.jpg)
Two Chinese provinces use state blockchain platform for export credit insurance worth US$3.27B
Chinese central bank branches in Fujian and Guangxi provinces have announced that their provinces did US$2.4 billion and US$875 million, respectively, of blockchain-based export credit insurance financing for the first half of 2021. Fast facts Fujian Province struck a total of 6,516 insurance deals, and Guangxi Province saw 166 enterprises participate. On May 17, the […]
![Canaan grows crypto rig sales as Chinese miners tool up abroad 46 Canaan](https://forkast.news/wp-content/uploads/2021/08/Canaan-1260x595.png)
Canaan grows crypto rig sales as Chinese miners tool up abroad
North America emerges as hardware demand hotspot amid Beijing’s regulatory onslaught against cryptocurrency sector.
![Ethereum prices hit resistance as major London Upgrade looms 47 Ethereum coin, ether's price up and down befor lodon hard fork](https://forkast.news/wp-content/uploads/2021/08/close-up-of-on-a-blue-coin-ethereum-logo-PG4ZWX4-1260x840.jpg)
Ethereum prices hit resistance as major London Upgrade looms
ETH rose in a historic run in anticipation of ‘Ethereum halving’ — but dipped on the eve of the London hard fork. Forkast.News asks top cryptocurrency analysts to find out why.
![Mastercard partners with Australian exchange for crypto card 48 Mastercard](https://forkast.news/wp-content/uploads/2021/08/FF_Mastercard3-1260x840.jpg)
Mastercard partners with Australian exchange for crypto card
In a further move towards cryptocurrency adoption, Mastercard has partnered with one of Australia’s oldest crypto exchanges, CoinJar, to launch one of the country’s first crypto payment cards. Fast facts The card became available on Tuesday in a digital form through integration with Apple Pay and Google Pay, and will be available in a physical […]
![SEC chair labels crypto industry 'Wild West,' asks for more powers 49 Gary Gensler](https://forkast.news/wp-content/uploads/2021/08/FF_GaryGensler-1260x862.jpg)
SEC chair labels crypto industry ‘Wild West,’ asks for more powers
The cryptocurrency trading industry has been labeled a “Wild West,” riddled with fraud and investor risk, by U.S. Securities and Exchange Commission Chair Gary Gensler, according to a Reuters report. Fast facts Calling on Congress at the Aspen Security Forum to give the SEC more power to regulate the industry, Gensler said many of the […]
![Bitcoin SV suffers a new 51% attack 50 Bitcoin](https://forkast.news/wp-content/uploads/2021/08/FF_BitoinSV-1260x840.jpg)
Bitcoin SV suffers a new 51% attack
Bitcoin SV has suffered another 51% attack beginning around 11:45 am EDT on Tuesday resulting in up to three versions of the chain being mined simultaneously, as initially reported by analytics firm CoinMetrics.io. It is the fifth such attack on the network since late June. Fast facts Further reporting by the firm reported all of […]
![HSBC blocks UK customer payments to Binance 51 HSBC](https://forkast.news/wp-content/uploads/2021/08/FF_HSBC-1260x801.jpg)
HSBC blocks UK customer payments to Binance
Binance’s woes continue to mount as global banking giant HSBC is now blocking its customers in the United Kingdom from making credit card payments to Binance, according to Yahoo News. Binance is the world’s largest cryptocurrency exchange. Fast facts HSBC’s move follows similar actions taken by NatWest — a Scotland-based bank with 12.5 million customers […]
![Ethereum addresses using DeFi soar 65% to over 2.9M 52 Ethereum logo](https://forkast.news/wp-content/uploads/2021/08/Ethereum-1260x709.jpg)
Ethereum addresses using DeFi soar 65% to over 2.9M
The Ethereum ecosystem is continuing to see strong growth, with institutional capital ‘flooding’ into decentralized finance and decentralized autonomous organizations flourishing.
![United Nations-associated NFT art project builds on Polkadot to fight climate change 53 DigitalArt4Climate](https://forkast.news/wp-content/uploads/2021/08/DigitalArt4Climate-1260x709.jpg)
United Nations-associated NFT art project builds on Polkadot to fight climate change
The DigitalArt4Climate NFT initiative aims to promote art via blockchain technology to inspire environmental activism around the world.
![Blockchain applications that will change the world in the next 5 years 54 Decentralized network, the blockchain application can change the world in a near future](https://forkast.news/wp-content/uploads/2021/08/global-business-network-PUPMLTD-1260x841.jpg)
Blockchain applications that will change the world in the next 5 years
The next half decade will see mass adoption of decentralized technology, writes Max Kordek of Lisk. Here are the leading uses.
![Marathon Digital to buy more mining rigs from Bitmain 55 Marathon Digital](https://forkast.news/wp-content/uploads/2021/08/marathon-hardin-data-center_03-1-1260x946.jpeg)
Marathon Digital to buy more mining rigs from Bitmain
Nasdaq-listed Marathon Digital Holdings, one of the biggest Bitcoin mining companies in North America, has announced a deal to buy an additional 30,000 mining machines from Bitmain to boost its mining capacity. Fast facts Marathon has entered into a contract with Bitmain to purchase 30,000 Antminer S19j Pros worth a total of US$120.7 million, the […]
![Tencent climbs aboard NFT bandwagon with new trading app 56 Tencent huanhe NFT](https://forkast.news/wp-content/uploads/2021/08/Tencent-huanhe.png)
Tencent climbs aboard NFT bandwagon with new trading app
Chinese internet giant Tencent is making a foray in the world of non-fungible tokens, launching an NFT trading platform named Huanhe. Fast facts The tech conglomerate has rolled out the Huanhe app — built on the company’s own Zhixin chain — on its Android application platform. Its debut sales feature 300 audio NFTs created based […]
![Crypto mining rig maker Canaan names new CFO 57 crypto mining rig, the manufacture of rigs Cannan appoints new CFO](https://forkast.news/wp-content/uploads/2021/08/crypto-currency-mining-rig-with-graphics-cards-and-P7ATDWZ-1260x841.jpg)
Crypto mining rig maker Canaan names new CFO
Cryptocurrency mining rig manufacturer Canaan has announced the appointment of James Jin Cheng as its new CFO, following the resignation of his predecessor in February. Fast facts Cheng was previously vice president of Chinese internet recruiting platform Zhaopin Ltd., which listed on the New York Stock Exchange in 2014 before being taken private in 2017. […]
![Miami prepares launch of city cryptocurrency 58 Miami](https://forkast.news/wp-content/uploads/2021/08/FF_miami-1260x840.jpg)
Miami prepares launch of city cryptocurrency
The city of Miami is set to launch its own cryptocurrency, MiamiCoin, tomorrow. The token will allow people to invest in the city to fund infrastructure projects and events, according to a report by Decrypt. Fast facts The token is being released in partnership with CityCoin, a project that facilitates cities releasing their own tokens […]
![Square acquires Afterpay for $29B to expand into 'buy now pay later' 59 Jack Dorsey](https://forkast.news/wp-content/uploads/2021/08/FF_Dorsey-1260x840.jpg)
Square acquires Afterpay for $29B to expand into ‘buy now pay later’
Global payments giant Square — which recently made moves into decentralized finance — is acquiring Australian “buy now pay later” fintech company Afterpay for US$29 billion (AU$39 billion) to expand its range of services, according to a recent company press release. Fast facts The purchase will enable Square’s CashApp and Seller business units to offer […]
![Singapore poised to grant one of first approvals to crypto exchange Independent Reserve 60 Australian cryptocurrency exchange Independent Reserve CEO Adrian Przelozny](https://forkast.news/wp-content/uploads/2021/08/Independent-Reserve_Adrian-Przelozny-1260x709.jpg)
Singapore poised to grant one of first approvals to crypto exchange Independent Reserve
Australian cryptocurrency exchange Independent Reserve said Monday that it had received an “in-principle approval” for a Major Payment Institution License in Singapore to operate as a regulated digital payment token (DPT) service provider, according to a company statement. Fast facts Founded in Australia in 2013, Independent Reserve set up its first overseas operations in Singapore […]
![Crypto crimes surge to record levels in Hong Kong 61 Hacker](https://forkast.news/wp-content/uploads/2021/08/FF_Hackers-1260x842.jpg)
Crypto crimes surge to record levels in Hong Kong
Crypto-related crime has hit record levels in Hong Kong for the first six months of this year, with one victim losing HK$124 million (US$15.95 million) to fraudsters, according to the South China Morning Post. Fast facts Hong Kong police recorded 496 such cases totaling HK$214.4 million (US$27.58 million) in just the first half of this […]
![Will Facebook's metaverse future transform how we live online? 62 Zuckerberg/VR](https://forkast.news/wp-content/uploads/2021/08/MetaverseImage-1260x709.jpg)
Will Facebook’s metaverse future transform how we live online?
Facebook CEO Mark Zuckerberg has a vision for metaverses — online worlds that one day will replace big parts of our offline lives. But some say that future is already here.
![NFT market OpenSea transaction volume hits record high 63 Non-Fungible Token, Opensea hit a new trasaction volume](https://forkast.news/wp-content/uploads/2021/08/HD_M280_03-1260x840.jpg)
NFT market OpenSea transaction volume hits record high
Non-fungible token marketplace OpenSea’s July transaction volume reached a new high of almost US$325 million, a 118% increase from an historic high attained in June. Fast facts The new numbers make OpenSea the most active NFT marketplace. OpenSea’s July NFT transaction numbers and transaction fees were also records, at 457,700 and US$21.78 million, respectively, breaking […]
![Chinese central bank shows no sign of softening stance on crypto 64 PBOC](https://forkast.news/wp-content/uploads/2021/08/PBOC.jpeg)
Chinese central bank shows no sign of softening stance on crypto
People’s Bank of China vows to keep sector under ‘heavy pressure’ as it pushes digital yuan.
![Binance in Malaysia ban as it ends derivatives trading in Germany, Italy, Netherlands 65 Binance logo 1](https://forkast.news/wp-content/uploads/2021/05/Binance-logo-1.jpg)
Binance in Malaysia ban as it ends derivatives trading in Germany, Italy, Netherlands
World’s biggest cryptocurrency exchange steps up compliance and cuts product offerings, with a ban in Malaysia and end of lucrative derivatives business in three EU nations.
![U.S. infrastructure bill could bring sweeping regulatory changes to crypto 66 US Senate](https://forkast.news/wp-content/uploads/2021/08/FF_Infrastructure-1260x840.jpg)
U.S. infrastructure bill could bring sweeping regulatory changes to crypto
A provision in an infrastructure bill being debated by the U.S. Senate has prompted concerns in the crypto industry as it boosts Internal Revenue Service reporting requirements for investors and brokers. Fast facts According to the New York Times, the provision is an effort to help fund a US$ 1 trillion bipartisan bill and could […]
![Singapore crypto financial services unicorn Matrixport closes fundraise 67 Matrixport, Asia's newest crypto unicorn](https://forkast.news/wp-content/uploads/2021/08/Matrixport-1260x732.jpeg)
Singapore crypto financial services unicorn Matrixport closes fundraise
Matrixport, a Singapore-based digital asset financial services platform, today announced the completion of a series-C funding round, bringing the company’s valuation to more than US$1 billion. Fast facts The funding round was led by partners of DST Global, C Ventures and K3 Ventures, with other investors including Qiming Venture Partners, CE Innovation Capital and Tiger […]
![How NFTs can track patient consent for clinical trials and give you greater control over your own health data 68 DNA](https://forkast.news/wp-content/uploads/2021/08/dna-3539309_1920-1260x630.jpg)
How NFTs can track patient consent for clinical trials and give you greater control over your own health data
A new NFT platform built on Hedera Hashgraph aims to give patients greater control over their health information. How does it work?
![Japan's Monex and SBI report strong Q2 results 69 Bitconi](https://forkast.news/wp-content/uploads/2021/08/FF_Q2Report-1260x840.jpg)
Japan’s Monex and SBI report strong Q2 results
Two of Japan’s largest crypto firms, Monex and SBI Groups, have seen strong performances in the second quarter of the year, according to the groups’ respective Q2 reports. Fast facts SBI operates two domestic exchanges, SBI VC Trade and the TaoTao platform, as well as the mining arm SBI Crypto and U.K.-based liquidity provider B2C2. […]
![10 key blockchain developments in healthcare toward Covid-19 in 2021 70 Staff are seen preparing Pfizer vaccine doses inside the Melbourne Showgrounds COVID-19 Vaccination Centre on July 20, 2021 in Melbourne, Australia](https://forkast.news/wp-content/uploads/2021/07/GettyImages-1329618208-1-1260x1575.jpg)
10 key blockchain developments in healthcare toward Covid-19 in 2021
Blockchain technology is part of the important work being done toward a safer and healthier world. Lucas Schweiger of Blockdata summarizes this year’s strides forward.
![Bitcoin mining difficulty rising again as miners resettle and get back to work 71 Bitcoin money on computer](https://forkast.news/wp-content/uploads/2021/07/golden-bitcoin-money-on-computer-2021-04-02-21-13-13-utc-1260x840.jpg)
Bitcoin mining difficulty rising again as miners resettle and get back to work
The global Bitcoin hashrate is now on an uptrend as miners pushed out by China resettle on friendlier shores and resume investing big money in mining equipment.
![South Korea’s Busan city to establish digital asset exchange 72 A city view of Busan, South Korea | Busan city to establish a digital asset exchange](https://forkast.news/wp-content/uploads/2021/07/busan-city-2021-04-06-17-10-24-utc-1260x840.jpg)
South Korea’s Busan city to establish digital asset exchange
Busan, the “blockchain city” of South Korea, is in the early stages of building its own platform for digital asset transactions. Fast facts According to Coindesk Korea, Busan city has started setting up detailed plans and strategies in establishing a digital asset exchange. Its plans include building an ecosystem for securities token-based digital asset transactions […]