Monika Ghosh

The Lido decentralized autonomous organization (DAO) almost unanimously approved the sale of about US$25 million worth of treasury tokens to venture capital firm Dragonfly Capital on Thursday.  See related article: Lido Finance floats 2nd proposal to sell LDO to Dragonfly Capital Fast facts The voting page shows over 99% of the community members voted in […]

A U.S. bankruptcy court in New York approved crypto platform Voyager Digital’s request to return to customers US$270 million held in a custodial account at Metropolitan Commercial Bank (MCB), the Wall Street Journal reported.  See related article: Voyager crypto refund plan unconfirmed; fiat to be returned in full Fast facts The funds at the MCB […]

Crypto trading platform ZB.com, which halted withdrawals on Tuesday citing maintenance, may have been hacked to the tune of US$4.8 million, blockchain analytics firm PeckShield said on Wednesday. See related article: Nomad Bridge alerts law enforcement amid US$200 mln attack Fast facts According to PeckShield, hackers drained 21 different tokens from ZB.com, including USDT, USDC, […]

The U.S. Senate Agriculture Committee introduced a bill on Wednesday to put the Commodity Futures Trading Commission (CFTC) at the helm of regulating all cryptocurrencies classified as commodities.  See related article: US crypto bill could undermine market protections: SEC, Gensler Fast facts The bill would give the CFTC “exclusive jurisdiction” over all “digital commodities,” which […]

Crypto platform Zipmex on Aug. 2 began to resume the withdrawal of certain altcoins such as Solana, Ripple and Cardano, the firm said in a blog post, after it halted customer withdrawals on July 20.  See related article: Zipmex seeks moratorium from creditors in Singapore court Fast facts From Aug. 2, Zipmex users could withdraw […]

Bitcoin is the worst option for increasing the efficiency of cross-border payments while stablecoins occupy an intermediary position, the European Central Bank (ECB) said in a study published Monday.  See related article: Cryptocurrency is worthless: ECB Christine Lagarde Fast facts Central bank digital currencies (CBDCs) and domestic instant payment systems have the highest potential for […]

The New York Department of Financial Services (NYDFS) slapped a US$30 million fine on the crypto arm of trading app Robinhood on Tuesday for allegedly violating the bank secrecy act, anti-money laundering, and cybersecurity regulations. See related article: Sam Bankman-Fried buys 7.6% of Robinhood; stock jumps Fast facts The financial regulator also asked the firm […]

Binance and Paxos Trust Company, which issues the dollar-pegged stablecoin BUSD (Binance USD), released the first unaudited breakdown of the reserves backing the token on Aug. 1. See related article: Binance spent over US$1B on compliance, founder Changpeng Zhao says Fast facts According to the reserve report, BUSD was backed by US$738 million in cash, […]

Blockchain payments company Ripple released 1 billion of XRP from three escrow accounts on August 1, pushing the price of its native token down by 3.4% in the past 24 hours, according to CoinGecko data. See related article: SEC fails to block XRP holders from aiding in Ripple case Fast facts In December 2017, Ripple […]

The U.S. Federal Deposit Insurance Corporation (FDIC) clarified in a statement on Friday that it only protects insured bank customers in case a bank fails, and not assets issued by crypto companies.  See related article: Crypto lender Voyager ordered to stop misleading claims over deposit insurance Fast facts The FDIC’s comments come a day after […]

Bitfinex and Tether’s chief technology officer Paolo Ardoino said on Sunday that Tether plans to support ETH 2.0, amid widespread speculations that the Merge may get delayed yet again.  See related article: Ethereum one step closer to Eth2 with Ropsten testnet merger Fast facts While the Merge has been delayed multiple times, developers said it […]

The Law Commission of England and Wales recommended classifying cryptocurrencies and non-fungible tokens (NFTs) as a new type of property in a consultation paper published on Thursday. See related article: Basel Committee starts public consultation on banks’ crypto asset exposures Fast facts The Law Commission, an independent statutory body responsible for reviewing and reforming laws, […]

Solana-based decentralized finance protocol Nirvana Finance was exploited in a flash loan attack for US$3.49 million on July 28, the firm announced in a Twitter post, causing its tokens to topple by more than 80%. See related article: C.R.E.A.M. Finance suffers $28M flash loan hack Fast facts Using flash loans on lending protocol Solend, the […]

A U.S. federal district court dismissed the U.S. Securities and Exchange Commission’s motion to revoke the “amici curiae” or “friends of the court” status granted to XRP holders in an order on Tuesday.  See related article: SEC wins time to resist crucial document handover to Ripple in XRP lawsuit Fast facts In a letter to […]

Ethereum has been on a tear, gaining 14% in the past 24 hours. The world’s second-biggest cryptocurrency by market capitalization is now up ​​more than 47% in the past 14 days ahead of the Merge. See related article: Vitalik Buterin says Ethereum to be 55% complete post-merge Fast facts Ethereum is up 13.9% over the […]

Crypto lender Vauld, which halted withdrawals earlier this month, is facing hostile action from multiple creditors, according to a new affidavit reviewed by Moneycontrol.  See related article: Nexo in talks to buy out Vauld Fast facts As per the affidavit, Vauld has received two demand letters and two civil claims from four creditors.  One of […]

Venture capitalists (VCs) poured at least US$17.5 billion into the crypto and blockchain industry in the first half of this year, Reuters reported, citing PitchBook data.  See related article: Blockchain, crypto investment soars in H1 2021 Fast facts VC investments in blockchain and crypto startups topped US$26.9 billion in 2021. North American startups were at […]

Investment banking firm Jefferies downgraded the MicroStrategy stocks from “hold” to “underperform.” See related article: Michael Saylor’s MicroStrategy buys more Bitcoin Fast facts MicroStrategy, the largest corporate holder of Bitcoin, has a premium valuation for a low-growth asset, Jefferies said in a research report released on Tuesday. Jefferies kept the MicroStrategy price target unchanged at […]

Crypto exchange Zipmex, which announced that it is in serious discussions with potential investors on Monday, is looking to raise US$50 million to cover its exposure to Babel Finance and Celsius Network, Bloomberg reported.  See related article: Zipmex says considering possible offer Fast facts Zipmex’s fundraising target is close to its exposure to Babel Finance, […]

After bankrupt crypto broker Voyager Digital rejected a proposal to buy out its assets and loans — except the loan to insolvent crypto hedge fund Three Arrows Capital — FTX CEO Sam Bankman-Fried (SBF) took to Twitter to lash out.  See related article: FTX proposes buying out Voyager assets and loans except for 3AC to […]

Crypto exchange FTX launched a joint offer with West Realm Shires, which runs FTX.US, and Alameda Ventures, on Friday, which would allow bankrupt crypto lender Voyager Digital customers to get their hands on their bankruptcy claims in advance.  See related article: ​​Voyager crypto refund plan unconfirmed; fiat to be returned in full Fast facts Regarding […]

The U.S. Securities and Exchange Commission (SEC) alleged in a civil suit filed last week that nine of the 25 crypto assets traded in the first-ever cryptocurrency insider trading case were securities and that leaking confidential information, therefore, amounted to securities fraud.  See related article: Former Coinbase manager arrested on insider trading charges Fast facts […]

Three Arrows Capital (3AC) cofounders Su Zhu and Kyle Davies denied allegations by 3AC liquidators that they moved money out of the crypto hedge fund before its collapse. See related article: 3AC founders moved money out of troubled hedge fund, allege liquidators Fast facts Zhu and Davies claimed that they were forced into hiding due […]

Ethereum co-founder Vitalik Buterin said on Thursday that Ethereum will be about 55% complete after the “merge,” when the network moves from proof-of-work (PoW) to a proof-of-stake (PoS) consensus system.  See related article: Eth2 merger closer as ninth shadow fork goes live Fast facts “Proof of stake is much more secure than proof of work, […]

The U.S. Department of Justice (DOJ) arrested former Coinbase product manager Ishan Wahi and his brother, Nikhil Wahi, on allegations of wire fraud in a first-ever cryptocurrency insider trading scheme, the agency said in a statement on Thursday.  See related article: Former OpenSea employee arrested amid insider trading allegations Fast facts The Wahi brothers are […]

Former Celsius employees allege the firm failed to ensure proper risk management and traded customer funds without proper approvals.

Residential rehabilitation centers around the world are starting to see a new kind of patient with an old problem: gambling addiction focused on crypto trading.

The Financial Services and Markets Bill introduced in the U.K. parliament on Wednesday seeks to regulate stablecoins as a means of payment.  See related article: Financial Stability Board calls for high regulatory standards for stablecoins Fast facts The legislation was largely awaited as it aimed at strengthening the U.K. financial system post-Brexit.  In April, then-Chancellor […]

Court filings in Singapore by the lawyers appointed by Three Arrow Capital’s creditors allege money was being moved out of the troubled crypto hedge fund into a company controlled by its founders.

In a presentation on Monday, embattled crypto lender Celsius Network presented a plan of action as it enters Chapter 11 proceedings to restructure and stabilize its business in an effort to placate stakeholders.   See related article: Celsius says it owes its users US$4.72B amid a US$1.19B balance sheet deficit Fast facts The firm expects to […]

Following a record first half last year, investments in startups focusing on the cryptocurrency industry are down amid the so-called crypto winter, data showed.  See related article: Polkadot is top crypto held by VCs and hedge funds in Q4 2021 Fast facts Venture capital funding in crypto startups fell nearly 26% to US$9.3 billion across […]

Spot and derivatives crypto trading volumes have declined by over 15% since May to around US$4.2 trillion, the lowest since January 2021, Bloomberg reported citing data from CryptoCompare.  See related article: Indian crypto trading volume drops as much as 63% after new tax Fast facts In June alone, spot trading volumes dropped by 28% to […]

Circle Internet Financial, the issuer of USDC, on Thursday released a detailed but unaudited breakdown of the reserves backing the second-largest stablecoin by market capitalization. See related article: Questions over Circle’s USDC reserves linger despite assurances Fast facts The breakdown showed that Circle had US$42.12 billion in U.S. Treasurys and US$13.58 billion in cash as […]

A day after filing for Chapter 11 bankruptcy, Celsius Network disclosed a US$1.19 billion deficit in its balance sheet in a new filing on Thursday by restructuring lawyers Kirkland & Ellis LLP. See related article: Celsius files for bankruptcy after closing DeFi loans Fast facts The document showed that Celsius had US$4.31 billion in assets […]

The embattled U.S. crypto lender wants to continue certain operations during the restructuring process but customers will have to wait for the Chapter 11 proceedings to address their claims.

Fresh claims that emerged over the weekend about the status of Circle’s USDC reserves cast doubts on the ability of the so-called stablecoin to maintain its peg. In a deep dive, Forkast examined the allegations and reached out to the company for its version of events.

Crypto lender Celsius Network continued to repay its loans on Tuesday, paying off US$71.9 million USDC owed to Aave and freeing up over US$417 million worth of stETH, on-chain data showed.  See related article: Celsius repays over US$113 mln in debt; recovers US$122 mln in collateral Fast facts The latest repayment has closed Celsius’ USDC […]

Voyager Digital said in a Monday blog update that customers’ USD deposits will be returned in full “after a reconciliation and fraud prevention process” but it has yet to receive the green light on its cryptocurrency refund proposal.  See related article: Voyager faces delisting from Toronto Stock Exchange after bankruptcy filing Fast facts Voyager filed […]

Celsius Network repaid around US$78 million in USDC to Aave and US$35 million in DAI to Compound on Monday, blockchain data on Etherscan shows.  See related article: Celsius repays debts, cuts jobs amid bankruptcy fears Fast facts The troubled cryptocurrency lender unlocked at least US$122 million in collateral through its latest set of repayments.  Celsius […]

Celsius deployed over US$1 billion of assets in decentralized finance (DeFi) and incurred over US$350 million in losses, according to a report by blockchain analytics firm Arkham Intelligence.  See related article: Celsius repays debts, cuts jobs amid bankruptcy fears Fast facts Celsius handed over about US$530 million in corporate funds to an asset manager who […]

Cryptocurrency lender Celsius has hired new restructuring lawyers from Kirkland & Ellis LLP for advice on bankruptcy filing amid severe liquidity issues, the Wall Street Journal (WSJ) reported on Sunday.  See related article: Celsius said to be hiring restructuring attorneys, exploring financing options Fast facts Kirkland & Ellis is also advising Voyager Digital, which filed […]

Infrawatch PH, a public policy think tank in the Philippines, wrote to the country’s Department of Trade and Industry calling for a ban on Binance for promoting cryptocurrencies without proper licensing, according to a letter accessed by Bitpinas.  See related article: Crypto is based on the greater fool theory: Philippines’ incoming central bank chief Fast […]

Embattled cryptocurrency lender Celsius Network has reorganized its board of directors amid bankruptcy speculation, according to filings published by U.K. government executive agency Companies House on Wednesday. See related article: Celsius repays debts, cuts jobs amid bankruptcy fears Fast facts Celsius appointed David Barse and Alan Jeffrey Carr as directors in late June, filings show. […]

After Voyager Digital filed for Chapter 11 bankruptcy on Tuesday, the Toronto Stock Exchange suspended trading in Voyager shares on Wednesday, announcing an expedited delisting review.  See related article: Voyager crypto firm loaned US$377 mln to Sam Bankman-Fried’s Alameda Research Fast facts According to Voyager’s bankruptcy filing, the firm has over 100,000 creditors and US$1.1 […]

India’s 30% tax on cryptocurrencies, which met with a public outcry, has deterred the trading frequency of 83% traders, according to a survey conducted by crypto exchanges WazirX and ZebPay. See related article: Only the big fish will survive as India cracks the whip on crypto: Binance-backed WazirX Fast facts The survey included 9,500 respondents […]

Celsius Network has paid back US$142.8 million of its debt to Maker since July 1, data from DeFi Explore shows, as the embattled cryptocurrency lender looks to avoid a complete collapse.  See related article: Goldman Sachs said to raise US$2B for Celsius assets: report Fast facts With the repayment, Celsius’ liquidation price for its Wrapped […]

Celsius Network’s cryptocurrency CEL is up 32.1% over the past 14 days leading to Monday in Asia, even as speculation around the lender filing for bankruptcy heats up.  See related article: Celsius community adopts GameStop tactics to squeeze out short sellers Fast facts CEL token gained 17% over the past 24 hours, peaking at US$0.94, […]

Investment firm VanEck has filed an application for a spot Bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC), despite Grayscale’s application getting rejected on Tuesday.  See related article: Next step for spot Bitcoin ETF in the US may be a courtroom battle Fast facts VanEck had filed for a spot Bitcoin […]

Grayscale Investments filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) within an hour of the markets regulator rejecting an application that would have allowed its spot Bitcoin exchange-traded fund (ETF) to trade on the New York Stock Exchange (NYSE). See related article: Bitcoin ETF rejection could trigger Greyscale to sue the SEC […]

Delaware-based Bitcoin mining hosting firm Compass Mining announced Tuesday that its chief executive officer Whitney Gibbs and chief finance officer Jodie Fisher have resigned, effective immediately. See related article: U.S. leads in Bitcoin mining as China’s share drops to zero: Cambridge data Fast facts The firm’s board has appointed chief technology officer Paul Gosker and […]

Crypto broker Voyager Digital issued a notice of default on Monday to hedge fund Three Arrows Capital (3AC), for failing to service a loan worth about US$665 million. See related article: Amid 3AC exposure, Voyager Digital cuts daily withdrawal limit Fast facts Last week, Voyager said it had asked for US$25 million worth of USD […]

The U.S. investment bank is looking to raise the money to buy up distressed assets from the troubled crypto lender, a Fortune report said, citing people familiar with the matter. See related article: Celsius said to be hiring restructuring attorneys, exploring financing options Fast facts A deal would allow investors to buy up Celsius Network’s […]

In his first interview after the collapse of TerraUSD (UST) and its sister token LUNA in May, CEO Do Kwon dismissed allegations of fraud and told The Wall Street Journal, “There is a difference between failing and running a fraud.” See related article: Winning back the trust of the Terra community a tall order for […]

A day after Voyager Digital disclosed its exposure to crypto hedge fund Three Arrows Capital (3AC), it slashed daily withdrawal limits to US$10,000 from US$25,000. See related article: Sam Bankman-Fried steps in to bail out BlockFi Fast facts On Wednesday, crypto trading platform Voyager said it had loaned over US$650 million worth of USDC and […]

After rescuing crypto-asset broker Voyager Digital last week, crypto exchange FTX founder Sam Bankman-Fried, often known as SBF, has now agreed to bail out crypto lender BlockFi.  See related article: BlockFi among those that foreclosed on Three Arrows Capital: report Fast facts FTX agreed to extend a US$250 million revolving credit facility to BlockFi on […]

Crypto lender Celsius Network’s native token CEL saw an uptick of around 50% on Tuesday as community members attempted a short squeeze.  See related article: CEL down over 50% since Celsius Network’s withdrawal freeze Fast facts In a short squeeze, bulls attempt to buy out the underlying asset to push up its price and make […]

Felipe M. Medalla, an economist slated to be the next governor of the Philippines central bank, is not interested in regulating crypto, which he believes is based on “the greater fool theory.”  See related article: Philippines gets new government, will new crypto taxes follow? Fast facts “The only reason you’re using this [cryptocurrencies] is you […]

High taxes amid a bear market are tempering the enthusiasm for NFTs among Indians. But industry participants expect the country’s unique cultural and demographic characteristics to provide a long-term fillip to the industry.

El Salvador President Nayib Bukele took to Twitter on Sunday to reassure Bitcoin investors, claiming such investments are safe and will grow “immensely” after the bear market. See related article: El Salvador’s Bitcoin adoption, one week on Fast facts “My advice: stop looking at the graph and enjoy life. If you invested in #BTC your […]

The market capitalization of Tether, the world’s largest stablecoin, has dipped to an eight-month low of US$69.4 billion, according to CoinGecko data. See related article: Tether, USDT market cap has dropped by US$10B since UST collapse Fast facts Tether’s market cap has fallen almost US$3 billion since June 14 as investors pull out in a […]

Analysis by the blockchain data platform found the collapse of TerraUSD (UST) took place in three stages — a few large trades broke UST’s peg triggering a selloff, there were attempts to restore the peg, but continued selloff finally drained all funds. See related article: Run on UST cuts the ground from under Terra’s feet Fast facts […]

Amid the ongoing insolvency risk, crypto lender Celsius has hired restructuring attorneys from the law firm Akin Gump Strauss Hauer & Feld LLP, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. See related article: CEL down over 50% since Celsius Network’s withdrawal freeze Fast facts Celsius is exploring financing options […]

Still recovering from the Terra-LUNA debacle that wiped off billions of dollars in investor wealth, people sold off cryptocurrencies amid a market slump over expectations that the Fed will act faster to tame inflation.

The total value locked (TVL) in decentralized finance (DeFi) fell to US$63.12 billion as prices across the broad crypto market fell. The declines were highlighted by the TRON algorithmic stablecoin USDD losing parity with the U.S. dollar on Monday, along with a 17% drop in the TRON native token TRX over the past 24 hours.  […]

Philippines senator and boxing legend Manny Pacquiao is launching non-fungible token (NFT) project Pacman to commemorate his late Jack Russell Terrier. See related article: Are PewDiePie, Manny Pacquiao and Spencer Dinwiddie riding the blockchain wave? Fast facts The cartoonish boxer dog-themed NFT collection pays tribute to Pacquiao’s pet Pacman, who was accidentally run over by […]

The survey by one of the Big Four accounting firms found over 85% of U.S. merchants are prioritizing the enabling of cryptocurrency payments while around 83% are doing the same for stablecoins. See related article: AMC rival Regal enables crypto payments for moviegoers Fast facts The survey found that 87% of merchants believe accepting crypto […]

The Helium Network, a decentralized wireless network, announced a model expansion on Saturday to address the demand for unlimited wireless protocols. See related article: Fantom releases upgrades to enhance speed, scalability, and decentralization Fast facts The Helium Network, which rewards crypto to users for deploying hotspots and providing network coverage, has launched over 848,000 hotspots […]

The Reserve Bank of India (RBI) is planning to introduce a central bank digital currency (CBDC) in stages this fiscal year, T Rabi Shankar, deputy governor of the central bank, said in a press conference on Wednesday.  See related article: RBI wants its CBDC to bring ‘little or no disruption’ Fast facts “Process of [the] […]

Layer 1 blockchain Fantom has unveiled upgrades to boost settlement speed and platform efficiency, the Fantom Foundation announced on Thursday.  See related article: Fantom overtakes Binance Smart Chain in DeFi TVL Fast facts Fantom’s upgrades include the implementation of all London EIP-1559 changes and a new variation of the consensus mechanism called Lachesis Light Repeater, […]

Blockchain data analytics platform Nansen has struck a multi-year collaboration deal with Google Cloud to provide crypto investors with real-time access to market intelligence, the Accel and GIC-backed firm announced on Thursday.  See related article: Foxconn’s Taiwan subsidiary receives investment from Google for metaverse projects Fast facts Running its platform on Google Cloud’s open and […]

Ethereum’s move to proof of stake (PoS) is inching closer as the network’s oldest testnet Ropsten is expected to transition to PoS on Wednesday night Asia time. See related article: Ethereum PoS move is now being tested on a mainnet shadow fork Fast facts Ropsten’s proof-of-work (PoW) chain will merge with its PoS Beacon Chain […]

Hong Kong-based Animoca Brands, which invests in non-fungible tokens (NFTs) and metaverse projects, has invested over US$1.5 billion across more than 340 investments as of April 30, according to its unaudited financial results released on Monday. See related article: Animoca Brands’ new Japan arm aims to connect fans in Web 3.0 world Fast facts Between […]