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Danny Park

Danny is a journalist at Forkast.News. Originally from South Korea, Danny has produced content for media companies in Korea, Hong Kong and China. He holds a Bachelor of Journalism and Business Marketing from the University of Hong Kong.

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September 2023

South Korea sentences ex-Coinone crypto exchange executives for bribery

Two former employees at Coinone were sentenced Tuesday for accepting bribes in exchange for listing certain cryptocurrencies on the platform.

JPMorgan’s U.K. bank Chase bans payments linked to crypto

Chase, the U.K.-based digital bank, told customers Tuesday in an email that it will ban U.K. clients from making crypto-related payments.

Binance Japan partners with mega bank MUFJ on stablecoin project

Mitsubishi UFJ and Binance Japan will collaborate on the issuance of fiat-pegged stablecoins.

Hong Kong crypto network Mixin loses US$200 million in hack

Mixin Network announced Monday that the database of its cloud service provider was hacked, resulting in the loss of approximately US$200 million.

South Korean entertainment firm NHN to build blockchain games on Sui despite local ban

NHN Corporation announced Friday that it has partnered with U.S.-based Mysten Labs to launch an on-chain game scheduled for 2024.

South Korea’s Kakao, Com2Us wind down metaverse units

South Korea’s top internet company Kakao and leading game developer Com2uS are sizing down their metaverse teams after large losses.

South Koreans hold nearly US$100 billion in crypto overseas

South Korean investors and corporations hold over 131 trillion Korean won (US$97.9 billion) worth of cryptocurrencies in overseas accounts.

SEC will load more charges on crypto exchanges and DeFi, says enforcement chief

The U.S. SEC will expand its regulatory enforcement onto crypto exchanges, intermediaries and decentralized finance (DeFi) entities.

Citigroup debuts digital token service for institutional clients

Citigroup announced Monday the launch of its new blockchain-based cross-border payments solution for institutional clients.

US legislators to discuss CBDC prevention bill on Sept. 20

The U.S. House Financial Services Committee announced last Friday that it will discuss a new bill to prevent the issuance of a CBDC.

SEC fines Stoner Cats for selling unregistered securities as NFTs

NFT markets fear more enforcement action may be heading their way, while NFT offerings as securities fail to convince the SEC.

FTX gets green light to sell US$3.4 billion in crypto assets

A U.S. bankruptcy court in Delaware approved failed crypto exchange FTX’s motion to sell its crypto assets at a court hearing on Wednesday.

Astar, Polygon joins power to launch zkEVM solution for wider Web3 adoption

Japan-based Astar Network announced Wednesday that it is launching its zkEVM solution powered by Polygon’s Chain Developer Kit.

Hong Kong crypto exchange CoinEx suffers hack, at least US$43 million lost

Hong Kong-based cryptocurrency exchange CoinEx Global suffered a security breach on Tuesday, resulting in an estimated loss of US$43 million in cryptocurrencies.

Binance.US cuts one-third of workforce; CEO Brian Shroder steps down

The U.S. affiliate of the world’s largest cryptocurrency exchange Binance has laid off one-third of its staff, or more than 100 employees.

Standard Chartered’s crypto custody arm Zodia launches in Singapore

Zodia Custody owned by Standard Chartered, announced Tuesday that it is launching its services in Singapore for financial institutions.

Animoca Brands raises US$20 million to boost Mocaverse

Animoca Brands announced Monday that it has raised US$20 million to accelerate the development of Mocaverse, its flagship project.

FTX sues LayerZero Labs to recover US$21 million

FTX cryptocurrency exchange has filed a lawsuit against LayerZero Labs to recover $21.37 million allegedly withdrawn from the exchange illegally.

U.S. SEC moves to appeal Ripple court decision

The U.S. Securities and Exchange Commission (SEC) submitted a filing last Friday that pushed the court of the Southern District of New York to appeal its ruling on the agency’s lawsuit against Ripple Labs.

Korea Blockchain Week: diverging crypto paths for the US and Asia

The annual Korea Blockchain Week conference in Seoul is running from Sept. 4 to 10. Crypto industry leaders and advocates from around the world have gathered in the South Korean capital to discuss all things blockchain, including the growing regulatory gap between the U.S. and Asia.

Former FTX exec Ryan Salame to forfeit US$1.5 billion after pleading guilty to charges

Salame pleaded guilty Thursday in New York to two criminal charges related to the collapse of the FTX cryptocurrency exchange last November.

North Korean hackers stole US$41 million from gambling site: FBI

North Korea-backed Lazarus Group was behind the US$41 million hack of online crypto gambling platform Stake.com on Monday, FBI says.

U.S. CFTC charges three DeFi projects for illegal derivatives offerings

CFTC charged three U.S.-based decentralized finance protocols – Opyn, ZeroEx and Deridex – on Thursday for omitting necessary registrations .

US regulation could stifle blockchain innovation, says former White House cybersecurity director

Blockchain innovation in the U.S. could suffer from over-regulation of the crypto industry, cybersecurity expert Carole house said.

South Korea’s Hana bank partners with BitGo on digital asset services

KEB Hana Bank, one of South Korea’s largest financial institutions, will offer digital asset custody services from the latter half of 2024.

China court says virtual assets legally protected as properties

Virtual assets remain legal property protected by law in China, said a Friday report from People’s Court Daily.

SEC delays verdict on BlackRock’s ETF application; Will Bitcoin ETFs see light of day?

After Grayscale’s legal win, the SEC decided to postpone its decision on spot Bitcoin ETF applications. Will these proposals be greenlit? And when?

Bitcoin falls back to US$26,000, Ether nears ‘death cross,’ while investors await US jobs report for August

Bitcoin, Ether and other cryptos were down Friday morning. U.S. equities were flat as investors look towards August’s jobs report later Friday.

August 2023

Cryptos down as Grayscale ETF news loses shine

Bitcoin, Ether and most other top ten cryptos traced back gains made following news of Grayscale’s legal win against the SEC.

Green ink across crypto after Grayscale scores SEC win

A U.S. court’s landmark decision to side with Grayscale on its Bitcoin ETF application to the SEC sent crypto prices upward Wednesday morning in Asia.

Bitcoin, Ether trading flat as SEC targets firm offering NFTs

Bitcoin, Ether were little changed. Cardano led gains while Solana posted losses as experts say crypto prices are looking up.

Crypto market cautious after Fed’s Powell says US inflation still ‘too high’

Bitcoin, Ether and other top 10 non-stablecoin cryptocurrencies held steady, despite Fed chair Jerome Powell’s hawkish comments on U.S. inflation.

Sam Bankman-Fried’s lawyers granted unlimited prison visits; FTX tries to sell crypto holdings

Sam Bankman-Fried’s lawyers can visit him in jail on a daily basis, a U.S. district court ruled on Wednesday, while FTX’s new CEO wants to sell its crypto.

Mastercard and Binance end crypto card partnership, services shut down in Latin America, Middle East

Mastercard and cryptocurrency exchange Binance will end their crypto debit card program in Argentina, Brazil, Columbia and Bahrain from Sep. 22.
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Tornado Cash founders charged with money laundering crypto, including proceeds from North Korean heists

The Tornado Cash mixer’s co-founders have been charged by the U.S. Department of Justice with money laundering and sanctions violations.

Sam Bankman-Fried pleads not guilty to misusing customer funds

Sam Bankman-Fried, the founder of FTX, pleaded not guilty to a set of new charges tied to last year’s collapse of his crypto empire.

Binance denies Russia sanctions violation reported by WSJ

Binance continues to help a significant amount of Russian funds move abroad through crypto transactions, according to The Journal.

Japan Nomura’s crypto custody firm Komainu bags Dubai license

announced Tuesday that it received an operating license from the Virtual Asset Regulatory Authority (VARA) in Dubai.

Coinbase buys equity stake in Circle

Coinbase Global announced Monday that it is acquiring an equity stake in Circle Internet Financial, the issuer of the USDC stablecoin.

Tornado Cash sanctions upheld by US court

A U.S. district court has concluded that the Treasury Department’s sanctions on cryptocurrency mixer Tornado Cash are valid.

SEC wants to question Terra’s Daniel Shin, could ask South Korea for help

The U.S. SEC could call for South Korea’s cooperation in questioning Daniel Shin, co-founder of Terraform Labs.

Bitcoin dives to US$28,500; Coinbase buoyed by US futures approval; Fed minutes cast shadow over equities

Bitcoin, Ether and Top 10 crypto fell on Thursday morning in Asia. Coinbase receives futures approval.

Cryptos decline on the back of Wall Street losses and Fed speculation

Bitcoin and Ether fell on Wednesday along with all other top 10 cryptos, NFTs moved down while U.S. stock futures steadied after a rocky Tuesday.

Shiba Inu surges; DeGods Season 3 unveiled; risk sentiment improves for US stocks

Bitcoin dipped slightly, having hovered around the $29,380 level throughout the weekend. Ether and most other top 10 crypto were little changed.

Slowing US inflation data inspires hope for a crypto price rally

Bitcoin and Ether dipped on Friday morning in Asia, while U.S. CPI data points to a potential rally in the crypto market.

Coinbase launches its own blockchain in first for a publicly listed company

Coinbase Global announced the public launch of its Ethereum layer-2 blockchain Base on Wednesday.

S.Korean prosecutors to submit XRP ruling to prove Terra-Luna as securities

South Korean prosecutors are looking to submit the recent U.S. ruling on Ripple to a Seoul court to prove Luna as financial securities.

PayPal launches fully backed and regulated USD stablecoin on Ethereum

Paypal, the California-based online payments giant, announced Monday that it is launching an Ethereum blockchain-based stablecoin pegged to the U.S. dollar.

There will never be an X (Twitter) token: Elon Musk

Elon Musk appeared to put an end to recent speculation of X issuing its crypto token, in a tweeted reply Saturday to another user on the platform.

First aid kits, boots and batteries — how small but significant crypto funds are used in global conflicts

As war rages in eastern Europe, this first installment in a two-part series looks at the growing use of crypto funding in global conflicts, focusing on the small but significant provision of supplies to pro-Russian mercenary groups in Ukraine.
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Bitcoin, Ether steady; Coinbase bullish; traders await US jobs report

Bitcoin and Ether remained stable Friday morning in Asia as Litecoin led losers among other top 10 cryptos. Coinbase execs bullish after upbeat Q2 results.

Bitcoin, Ether down; Litecoin slips after halving event

Bitcoin, Ether and all other top 10 non-stablecoin cryptocurrencies dipped in Thursday morning trading in Asia, including Litecoin following its halving event.

China is Binance’s largest market with US$90 billion despite crypto ban: WSJ

Binance users in China traded about US$90 billion worth of cryptocurrency-related assets in May despite the crypto ban since 2021.

Cryptos show resilience; BNB gains on Binance Japan launch

Bitcoin, Ether and most other top ten tokens gained Wednesday morning in Asia, with BNB leading winners after Binance Japan launch.

Bitcoin, Ether drop in Asia afternoon trading amid DeFi hack reports; most other leading tokens decline

Bitcoin and Ether fell in early Tuesday afternoon trading in Asia, with Bitcoin slipping below support at US$29,000. Ether fell more than 2%.

July 2023

Blockchain sleuths win Arkham’s US$5,000 bounty for Terra, Do Kwon’s wallet info

Arkham Intel Exchange on Monday said two blockchain sleuths had won the bounty for new evidence of wallets owned by Terraform Labs and its imprisoned co-founder Kwon Do-hyeong.

South Korea crypto lender Delio says operations in peril amid prosecutor raids, lawsuit

Delio halted interest payments for all users on Monday, after announcing difficulties in providing services as usual.

SEC hints at appeal of Ripple decision in court filing against Terraform Labs

The SEC has hinted it may be set to appeal a recent court ruling against the agency in its case against Ripple Labs and the XRP token.

Bitcoin price falls, heads for weekly loss; Ether flat, Matic leads gainers, Solana the losers

Bitcoin fell on Friday morning in Asia as other top 10 cryptocurrencies traded mixed. Bitcoin again slipped below support at US$30,000.

Bitcoin, Ether trade flat as buzz around Bitcoin ETFs and Ripple court ruling fades

Bitcoin edged higher on Thursday morning, along with most other top 10 cryptocurrencies, but the token looks to have lost support at the US$30,000 line.

Bitcoin loses grip on US$30,000 as profit-taking kicks in; XRP gains as other top 10 crypto fall

Bitcoin slipped under US$30,000 on the back of profit-taking and long liquidations as the recent run up on optimism about exchange-traded funds seemed to run out of steam.

Bitcoin dips but recovers back above US$30,000; Ether, most other top 10 crypto lose ground

Bitcoin dipped under US$30,000 in early Asia trade before recovering. Ether and other top 10 cryptocurrencies fell, while NFT trading slumped.

Bitcoin dips over weekend, other top 10 cryptos mixed; US stock futures edge down

Bitcoin rose to trade at over US$30,300 on Monday morning in Asia, but the price fell over the weekend to around the pre-Ripple ruling level.

After U.S. court rules Ripple XRP is not a security, industry remains cautious

In a long-awaited decision, the U.S. court ruled in favor of Ripple Labs in its case against the Securities and Exchange Commission, providing a boost to most cryptocurrency prices. But industry participants remain wary.

Celsius founder Alex Mashinsky arrested, pleads not guilty to fraud

Alex Mashinsky, founder and CEO of Celsius Network, pleaded not guilty after being arrested in the U.S. Thursday on several fraud-related criminal charges.

USDC issuer Circle trims workforce

Stablecoin issuer Circle has reduced its workforce and investment in non-core activities.

Seoul prosecutors chasing Do Kwon establish crypto investigations team

The Seoul Southern District Prosecutors’ Office announced that it will launch the Virtual Asset Joint Investigation Unit at the end of this month.

South Korea mandates new accounting rules for domestic crypto sector

South Korea’s FSC is requiring companies that issue or own cryptocurrencies to provide detailed crypto disclosures from 2024.

Gamers can now earn Bitcoin rewards on Minecraft via Zebedee

Zebedee, a New Jersey-based payments technology firm, will allow Minecraft players to earn Bitcoin by completing in-game quests.

Crypto ‘extremely speculative’ investment, not money, says Bank of England Governor Bailey

Bank of England governor Andrew Bailey said Bitcoin and other cryptocurrencies don’t meet standards to be recognized as money.

South Korea holds first court hearing for Terra co-founder Daniel Shin on crypto fraud charges

South Korea on Monday held the first preliminary hearing for Terraform Labs co-founder Daniel Shin and seven other former employees on charges related to the collapse of the Terra-Luna crypto project.

South Korea, Singapore, Thailand clarify crypto rules as U.S. in state of regulatory ‘warfare’

While Asia nations such as Singapore and Thailand seem to be following the U.S. regulator in frowning upon certain products offered by crypto exchanges, the approach in Asia so far seems to be clarity instead of court battles, in contrast with North America
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