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Jeanhee Kim

Jeanhee has edited marquee features such as the Crain’s New York Business 40 Under 40, Fast 50 and Most Powerful Women. As a contributing editor for Forbes Asia in 2021 she edited the debut of the 100 to Watch. Earlier she worked as a producer at Oxygen Media and Meredith Interactive and as a writer or editor at Money and Working Woman magazines.

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March 2022

Biden pushes the U.S. on CBDCs in sweeping crypto executive order

President Joe Biden on Wednesday urged the federal government to research and develop a digital dollar in an executive order describing broader directives for a coordinated and comprehensive U.S. approach to digital assets. See related article: CBDC tracker shows U.S. falling further behind Fast facts “My Administration places the highest urgency on research and development […]

Ukraine cancels crypto airdrop, promises NFTs

Vice Prime Minister Mykhailo Federov said on Thursday that Ukraine would cancel a crypto airdrop created to reward its donors that had been announced just one day before. Fast facts “After careful consideration we decided to cancel airdrop. Every day there are more and more people willing to help Ukraine to fight back the agression. […]

Polkadot, crypto companies donate millions to Ukraine

Ukraine’s Minister of Digital Transformation Mykhailo Fedorov on Tuesday thanked crypto companies by name for their financial support in their defense against the Russian invasion. Fast facts “I am grateful to @gavofyork, who made an impressive donation of $5M from @Polkadot $DOT. This will certainly contribute to the Ukrainian victory as well as support civil […]

US asks crypto exchanges to comply with Russian sanctions: report

The U.S. is asking crypto exchanges around the world to prevent Russia from skirting sanctions imposed after it invaded Ukraine last week, Bloomberg reported. See related article: Binance may join sanctions imposed on Russian targets Fast facts The Biden administration is concerned that cryptocurrencies can be used to evade heavily regulated traditional financial systems. The […]

February 2022

Biden to order crypto oversight: report

President Biden’s executive order directing agencies to devise a comprehensive strategy to regulate cryptocurrencies and other digital assets and examine a digital dollar may be issued next week, according to Yahoo! Finance. Fast facts The order, expected weeks ago, was delayed by a disagreement between the White House and the Treasury over its scope, Bloomberg […]

Peirce dissents from SEC’s US$100M BlockFi settlement

SEC Commissioner Hester Peirce, dubbed Crypto Mom, dissented in Monday’s US$100M BlockFi settlement, saying the punishment does not fit the crime.

E-CNY chief says digital dollar poses no threat to China

China does not expect significant impact on its monetary system if the digital dollar were introduced, said Mu Changchun, director-general of the People’s Bank of China Digital Currency Initiative on Wednesday. He spoke at a panel organized by the Atlantic Council think tank to support the release of the International Monetary Fund’s report on central […]

US taxpayer rejects IRS refund for staking rewards

A U.S. taxpayer fighting the Internal Revenue Service (IRS) over whether newly created tokens are taxable income announced Thursday that he has rejected the government’s offer of a refund in order to force the government to clarify its policy. Fast facts On Thursday, Joshua Jarrett shared on Twitter that the IRS had offered him a […]

$10M in NFT money laundering, fraud likely to grow in 2022: report

The two most popular NFT-related crimes, money laundering and wash trading, resulted in illicit profits of US$10 million in 2021, according to a report released Wednesday by blockchain forensics firm Chainalysis. Fast facts While the US$10 million of global NFT criminal activity is relatively small, Chainalysis reported a spike in the use of illicit funds […]

FTX to buy Asian fintech Liquid for undisclosed sum

Fresh off a US$32 billion valuation, crypto derivatives exchange FTX Trading said Wednesday it will acquire its Japanese competitor Liquid Group and all its subsidiaries. Fast facts The deal is expected to close in March, according to a Liquid release. “Following FTX’s acquisition of Liquid, Quoine will gradually integrate FTX’s products and services into its […]

Non-US XRP investors petition for congressional investigation of SEC

Lawyer for 63,000 XRP investors invites non-US investors to demand a congressional investigation of the SEC for impropriety.

FTX reaches US$32B valuation after closing $400M series C

The owner and operator of cryptocurrency exchange FTX.COM announced Monday it closed US$400 million in a Series C fundraise that now values the company at US$32 billion. Fast facts Investors participating in this round included Temasek, SoftBank Vision Fund 2 and Tiger Global, among others. The company said all of the investors have participated in […]

January 2022

SEC scrutinizing crypto lending by Celsius, Gemini, Voyager: reports

The U.S. Securities and Exchange Commission is scrutinizing the cryptocurrency companies Celsius Network, Gemini Trust and Voyager Digital about their practice of paying interest on crypto token deposits, Bloomberg.com reported on Thursday. Fast facts The SEC has begun an enforcement review focused on whether these tokens are unregistered securities, the report states, citing unnamed sources […]

Amid SEC lawsuit, Ripple buys back stock and raises value to US$15B

San Francisco-based Ripple Labs announced Tuesday that on the heels of a strong year it bought back the shares it sold in a 2019 fundraise and is now valued at US$15 billion. Fast facts The blockchain payments platform developer is in the middle of a 13-months-long lawsuit filed by the U.S. Securities and Exchange Commission […]

Crypto market briefly up, then falls as US Fed leaves interest rates unchanged

The global cryptocurrency market rose along with smaller gains in the broader equity and bond markets in the aftermath of a Federal Reserve Open Market Committee statement Wednesday afternoon that it would leave interest rates untouched at near zero but expects to raise them soon. As the market digested the latest report, prices began trending […]

SEC wins time to resist crucial document handover to Ripple in XRP lawsuit

A federal judge on Monday has given the U.S. Securities and Exchange Commission (SEC) until Feb. 17 to fight her earlier order to turn over to the defendant Ripple Labs certain sensitive government documents in the agency’s lawsuit alleging the XRP token is an unregistered security. Fast facts Ripple and XRP investors initially believed they […]

Digital dollar leaps closer to reality with new Fed paper

Though the world’s most powerful central bank does not stake a position, its discussion paper is a big step toward supporting a future US digital currency.

Crypto.com discloses details of US$34M hack

The fast-growing crypto exchange Crypto.com discloses large amounts of Bitcoin and Ether were stolen from 483 customers.

Russia central bank calls for ban on crypto

Russia needs new laws for a comprehensive ban on crypto and crypto-related activities within its borders, the Bank of Russia stated in a report published Thursday.  Fast facts The recommendation is the latest in a global cryptocurrency crackdown from China and other Asian nations to the United States, as governments fear instability and loss of […]

Animoca Brands valued at US$5B after latest fundraise

Hong Kong-based Animoca Brands announced a US$358,888,888 capital raise Tuesday that values the blockchain gaming and open metaverse company at US$5 billion. Fast facts The round was led by New York-based Liberty City Ventures, with more than 18 other investors around the world, including Kingsway Capital, Sequoia China, Smile Group, Soros Fund Management and Winklevoss […]

Fed nominee looks to Congress for guidance on US digital dollar

The U.S. Federal Reserve is deferring to Congress to decide whether to introduce a central bank digital currency (CBDC), Lael Brainard told the Senate banking committee Thursday at her Fed vice chair nomination hearing. Fast facts Republican Senator Cynthia Lummis asked whether the vice chair nominee believed that the digital dollar should be available to […]

Kim Kardashian sued for alleged crypto pump-and-dump

An investor is suing Kim Kardashian; boxer Floyd Mayweather, Jr.; Hall of Fame basketball player Paul Pierce, and the cofounders of Ethereum Max for allegedly colluding to promote the cryptocurrency last spring in a pump-and-dump scheme, according to papers filed on Jan 7. Fast facts The investor, Ryan Huegerich, brought the federal suit in the […]

Ripple responds to SEC motion to strike its fair notice defense

Attorneys for Ripple Labs Inc. filed a response with a federal judge Monday asserting the U.S.  Securities and Exchange Commission is misapplying a recent ruling in another case in an attempt to deprive Ripple of an affirmative defense in the ongoing lawsuit, SEC v. Ripple Labs Inc.  Fast facts In Monday’s letter, Ripple argued the […]

US central bank chief says he will tackle higher inflation

Federal Reserve Chairman Jerome Powell will reiterate his pledge to prevent entrenched inflation, in testimony released before his Senate nomination hearing on Tuesday.  Fast facts “We will use our tools to support the economy and a strong labor market and to prevent higher inflation from becoming entrenched,” he said in a statement prepared for delivery. […]

Amid riots over fuel prices, Kazakhstan government resigns

Since China’s crypto bans, Kazakhstan has become a popular destination of energy-intensive crypto mining companies.

December 2021

Hackers infiltrate Monkey Kingdom NFT community, steal US$1.3M

Hackers scam 7,000 Solana, or US$1.3 million, from would-be buyers of a new NFT collection of the Monkey Kingdom project.

CBDC tracker shows U.S. falling further behind

Of the Big Four central banks, including those of the EU, UK and Japan, only the Federal Reserve has not progressed beyond research mode in central bank digital currencies.

Latest Elon Musk plug sends Dogecoin price soaring — briefly

Dogecoin rallied 31% when Elon Musk tweeted that Tesla will accept it for payment of “merch.”

Elon Musk named Time Person of the Year

One of the most influential cheerleaders for cryptocurrency is named Time’s 2021 Person of the Year for his work on electric cars and space rockets.

INX exec says crypto CEOs should talk to the SEC

Chief business officer of the first SEC-registered digital security says crypto companies got caught with their hands in the cookie jar.

Top crypto CEOs face House committee grappling with regulations

Stablecoins, US dollar primacy and energy consumption were among the topics in the questioning homing in on how to regulate the crypto industry.

Fidelity launches spot Bitcoin ETF in Canada

One of the world’s largest asset managers sought SEC approval of a spot Bitcoin ETF in March and is still awaiting a response.

Self-proclaimed Satoshi to pay US$100M in damages

A jury cleared Craig Wright of all but one charge in a civil trial brought by the estate of his alleged former business partner, David Kleiman.

Yellen clarifies anti-money-laundering reporting rules for DeFi

In written responses to questions from Sen. Pat Toomey, Treasury Secretary Janet Yellen releases non-custodial service providers from strict reporting rules.

SEC chair Gensler calls stablecoins ‘poker chips’ again

Conversation between current and former SEC chairs at annual digital asset compliance summit focused on regulating crypto.

Stocks, Bitcoin fall on Omicron, inflation concerns

Fed chairman Jerome Powell signaled that tighter monetary policy may be coming, which sent Bitcoin price’s down slightly.

Crypto exchange Bullish announces soft launch

Initial operations are available to invited institutional investors including Hong Kong crypto finance service provider, Amber Group.

November 2021

Twitter CEO Jack Dorsey resigns

Twitter’s stock rose 10% on the news, and his other company, Square, also opened up 4%.

Hex Trust to provide financial services for Animoca gamers

Hex Trust and Animoca Brands team up to tackle a key problem in gamefi.

Animoca to cover victims’ losses in Phantom Galaxies-related hack

Blockchain gaming company Animoca reacts to a US$1.1 million scam on a Discord server for its upcoming new game release.

U.S. develops crypto-asset ‘roadmap’; is the Fedcoin on its way?

Three U.S. agencies released a joint statement outlining a plan to fast-track crypto-asset regulation in 2022.

Ontology partners with bloXmove on decentralized transport infrastructure

BloXmove will use the Ontology blockchain to allow people to have one decentralized, secure identifier to share across multiple transportation apps.

Martha Stewart releases Thanksgiving-themed NFTs

American lifestyle guru Martha Stewart auctions a storytelling NFT recounting her first, disastrous Thanksgiving dinner.

AVAX hits all-time high after Ava Labs’ deal with Deloitte

Following news of a strategic alliance with Big Four accounting firm Deloitte, AVAX rose above US$106, up 90% for the month.

ICBC agrees to Federal Reserve risk compliance measures

As global markets continue to watch the Evergrande debt crisis nervously, Chinese bank branch agrees to U.S. risk management measures.

SEC enlists court to compel Terraform Labs and its CEO to testify

The creator of the Mirror protocol and its CEO Do Kwon have little recourse but to comply with the SEC subpoena to produce documents and testify.

SEC rejects spot Bitcoin ETF

The SEC rejected a Bitcoin spot ETF, citing the possibility of fraud, which briefly sent BTC prices down.

Mayor says Miami will pay crypto dividends to residents

Mayor Francis Suarez may be on his way to eliminating taxes by paying residents a crypto dividend

Double-whammy U.S. inflation news sends Bitcoin flirting with US$69,000

Within minutes of reports showing U.S. consumer prices rising and weekly wages falling, Bitcoin surged on inflation fears.

CityCoins announces debut of NYCCoin

Before the crypto-enthusiastic mayor-elect has been sworn in, a grassroots effort announces it will launch a Bitcoin-backed token to support the city.

Miami and NYC leaders vie for crypto-mayor title

The bell has rung on the friendly, post-Election Day competition between leaders of two major American cities for who will be the crypto-friendliest mayor of all.

Eric Adams wants New York to have a cryptocurrency

NYC Mayor-elect Eric Adams said he wanted to ‘look at what’s preventing the growth of Bitcoins and cryptocurrency in our city.’

US$66 billion at stake but only mild interest in Bitcoin trial

The outcome of a Miami civil trial may uncover who Bitcoin creator Satoshi Nakamoto really was, and who owns his rumored US$66 billion in Bitcoin.

October 2021

Bitcoin passes US$65,000 to an all-time high

On the morning after the successful debut of the first U.S.-approved Bitcoin futures exchange-traded fund, Bitcoin’s price surpassed $65,000, reaching an all-time high. Fast facts On Wednesday, Bitcoin reached a high of US$67,276.79, according to Coingecko. Bitcoin’s previous peak was US$64,804.72 on April 14, 2021. The first U.S. Bitcoin-futures exchange-traded fund, ProShares Bitcoin Strategy ETF, […]

Hong Kong issues technical white paper on e-HKD

The Hong Kong Monetary Authority (HKMA) on Monday released a white paper proposing potential technical architecture and design for the infrastructure of a digital Hong Kong dollar. The paper is one of the deliverables described in Project e-HKD, a feasibility study the HKMA announced in June 2021. Fast facts Hong Kong began its exploration of […]

September 2021

SEC chair Gensler doubts crypto longevity: interview

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

June 2021

Special Series, Part 3: Digital dragons and digital dollars

In the last installment of a 3-part series on blockchain in Asia, Forkast.News examines: Everyone knows money has value. But does it also have ‘values’?
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Special Series, Part 2: China lays digital groundwork for a new Silk Road

How China’s deployment of the digital yuan intertwines economics with geopolitics and concrete with virtual infrastructure, from Cambodia to the Caribbean.
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Special series, Part 1: China bets on the blockchain

Long before most governments, the Asian superpower saw the potential in Bitcoin’s technology to spawn the next internet and a new form of money.
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