Articles by
Pradipta Mukherjee
Pradipta Mukherjee is a business reporter and has worked for Bloomberg News and Business Standard in India. An MBA and a post-graduate in Economics, Mukherjee focuses on financial markets and corporates. She is a Mary Morgan Hewett award recipient for Women in Journalism. She has also won the Jefferson Fellowship; the Thomson Reuters Foundation fellowship on ‘Social Media and Digital Journalism’ at The Chinese University of Hong Kong; the Kiplinger Fellowship at Ohio University, USA; and most recently, the National Press Foundation's fellowship on 'International Trade.'
September 2023
Top 10 cryptos mixed, SEC again delays decision on Ark Invest ETF filing
Toncoin led losses among top 10 cryptos. Bitcoin dropped while Ether rose marginally.
Bitcoin, Ether rise; BNB leads gains among top 10 cryptos
Binance’s BNB token gained the most after Binance Japan and Mitsubishi UFJ Trust and Banking Corporation jointly announced they are collaborating on the issuance of fiat-pegged stablecoins.
Bitcoin, Ether fall with Toncoin leading losses in top 10 cryptos
Bitcoin fell below US$26,500 while Ether dipped below US$1,600 in the past 24 hours.
U.S. SEC denied immediate access to Binance.US software
A U.S. federal judge has denied the U.S. Securities and Exchange Commission immediate access to Binance.US’ software, in response to the regulator’s motion demanding more detailed information from Binance and greater availability of its executives for depositions.
JPEX crypto exchange shuts trading amid Hong Kong regulator probe
Dubai-based cryptocurrency exchange JPEX is shutting trading its platform amid a probe by the Hong Kong’s Securities and Futures Commission that said the firm was operating as an unlicensed entity, according to media reports.
Most top 10 cryptos rise; Tron, Toncoin biggest gainers
Bitcoin rises past US$26,500. All other top 10 cryptos gain, except BNB.
Solana leads winners in top 10 cryptos as Bitcoin, Ether extend gains
All top 10 cryptos gained in Thursday afternoon trade in Asia, except Toncoin.
Bitcoin, Ether continue to slide; altcoins under pressure
Bitcoin remained under US$26,000 and Ether dropped below US$1,600 in Tuesday afternoon trade in Asia.
Bitcoin, Ether extend losses; G20 eyes global crypto regulation
Bitcoin started the week below US$26,000 while Ether dropped to US$1,611. Toncoin and XRP lead losers in the last 24 hours.
India’s G20 presidency has failed to advance global crypto governance, ex-finance secretary says
With nine months under its G20 presidency belt, India’s approach to cryptocurrency governance remains static. Amid regulatory ambiguity, the nation’s crypto industry struggles to cope with stringent tax rules.
Bitcoin below US$26,000, most other top 10 cryptos extend losses
Bitcoin, Ether and other cryptos dropped on Friday afternoon in Asia. Toncoin and Tron gained.
August 2023
All top 10 cryptos fall except Dogecoin, as boost from Grayscale ETF ruling fades
Bitcoin, Ether and most other top 10 cryptos dropped on Thursday after a Wednesday rally on news of Grayscale receiving a favorable ruling against the SEC.
India’s CoinSwitch crypto exchange fires 44 employees as trading volumes drop
CoinSwitch, an Indian cryptocurrency exchange backed by Tiger Global and Sequoia Capital, has laid off 44 employees from its customer support team due to a drop in customer queries with falling trading volumes.
Crypto market gets boost from favorable court ruling for Grayscale against U.S. SEC
Prices of all cryptocurrencies rose on Wednesday after a U.S. court backed Grayscale on its Bitcoin ETF application, compelling the SEC to review its rejection of the application.
Bitcoin, Ether gain; traders cautious as U.S. regulator goes after NFT firm
Bitcoin, Ether rose less than 1% in the past 24 hours while posting losses on the week. Polkadot led gains among top 10 cryptos.
Asia’s richest man bets on blockchain, CBDC
Mukesh Ambani, Asia’s richest man from India, said on Monday that his Reliance Industries Ltd. is exploring blockchain-based platforms and central bank digital currencies (CBDC).
India’s PM advocates global ethical framework for cryptocurrency, artificial intelligence
Amid growing concerns around algorithm biases and their societal impact, India Prime Minister Modi calls for international consensus on ethical AI and crypto governance at the B20 summit.
Bitcoin dips below US$26,000, crypto faces downward pressure amid Fed’s rate hike signals
Bitcoin and other major cryptocurrencies face headwinds on the first trading day of the week in Asia following the U.S. central bank’s Jackson Hole Symposium remarks, while Tron bucks the trend with modest gains.
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.
Blockchain tech in Thailand gets boost from new pro-crypto leader
Blockchain technology in Thailand could soon receive a boost by new Prime Minister Srettha Thavisin, who had promised during his campaign to give 10,000 baht (US$300) through digital wallets to every Thai citizen aged 16 years and above.
India’s CoinDCX exchange lays off 12% of staff
CoinDCX, one of India’s largest cryptocurrency exchanges, said on Wednesday it is laying off 12% of its staff due to the impact of a prolonged bear market and local tax rules.
Tether stops USDT stablecoin mints on three blockchains
Tether, the issuer of the world’s largest stablecoin USDT, announced on Thursday that it will discontinue support for its flagship stablecoin, on three blockchains, Kusama, Bitcoin Cash SLP (Simple Ledger Protocol) and Omni Layer.
XRP erases gains from Ripple’s partial victory as Bitcoin falls 10% in a week
Macroeconomic factors hit investor sentiment while a U.S. judge’s consent to SEC over its ongoing tussle with Ripple Labs affects crypto prices.
Bitcoin steady at US$28,500; Dogecoin leads market decline in Asia
Global institutional intrigue in digital currencies grows but the cryptocurrency market shows no signs of rallying.
Bitcoin extends losses as BNB falls after Binance closes payment service
Bitcoin extends the day’s losses but keeps above US$29,000, while Binance’s BNB drops amid exchange’s payment service closure.
Bitcoin inches up; Dogecoin, Solana lead losses
Bitcoin rose slightly in the past 24 hours while Ether lost. Dogecoin and Solana were the day’s biggest losers, both dropping by over 1%, although both posted gains on the week.
Y00ts NFTs to migrate again — this time to Ethereum
Y00ts, a non-fungible token (NFT) collection that has been the second most traded NFT collection on Polygon over the past week, announced that it will migrate to Ethereum, the world’s largest blockchain for NFTs.
U.S. senators reintroduce crypto anti-money laundering bill
Two U.S. senators have re-introduced the ‘‘Digital Asset Anti-Money Laundering Act of 2023’’ after months of delay, which puts greater emphasis on industry participants such as miners and validators. If the bill is passed, all crypto participants will be required to report transactions of over US$10,000.
Bitcoin, Ether extend gains; top 10 cryptos mixed
Litecoin lost the most in the past 24 hours, followed by XRP, while Tron led gains.
Kenya suspends Worldcoin over security concerns
The Republic of Kenya has suspended Worldcoin, a cryptocurrency project co-founded in 2019 by OpenAI chief Sam Altman, while the country’s security and data protection services look into the authenticity and legality of the project, the Ministry of the Interior and National Administration said on its Facebook page on Wednesday.
Bitcoin returns above US$29,000 support level, most top 10 tokens rise
Bitcoin was the day’s biggest gainer, rising 2.11% in the past 24 hours. Ether rose 1.11%.
Bitcoin, Ether extend losses; most other top 10 cryptos fall
Bitcoin fell in Tuesday afternoon trading in Asia, dipping below the support level of US$29,000.
July 2023
Tether says USDT excess reserves reached US$3.3 billion in Q2
Tether Holdings Limited, the issuer of stablecoin USDT, released its consolidated reserves report for the second quarter of 2023 on Monday, showing consolidated assets of at least US$86.5 billion against total liabilities of US$83.2 billion. Tether reported an increase of approximately US$850 million in its excess reserves, totaling around US$3.3 billion as of June 30, the close of the quarter.
Bitcoin, Ether drop; Dogecoin, Polygon lead losers
Bitcoin and Ether dropped in afternoon Asia trading. Dogecoin, Polygon led losses while Tron and Litecoin gained.
National Australia Bank to block some crypto exchanges
NAB, one of Australia’s “big four” banks, announced it is taking action to block some payments to “high-risk” cryptocurrency exchanges, as part of its new measures aimed at protecting customers from scams.
S. Korea’s Shinhan Bank, SCB TechX, complete second stablecoin trial on Hedera
Shinhan Bank, the second largest bank in South Korea, and SCB TechX, the technology unit of Siam Commercial Bank, the oldest bank in Thailand, announced on Tuesday that they completed a second stablecoin transaction trial on the Hedera, a public distributed ledger network.
Financial Stability Board recommends stricter global crypto regulation after year of industry blow-ups
The Financial Stability Board (FSB) published on Monday a global regulatory framework for crypto-asset activities to provide a global regulatory and supervisory foundation for crypto. The recommendations made to the G20 – the 20 leading economies of the world – are based upon the principle of “same activity, same risk, same regulation.”
XRP leads gains as Bitcoin, top 10 cryptos rally after Ripple’s win against U.S. SEC
A favorable U.S. court ruling for Ripple boosted Bitcoin prices. All top 10 non-stablecoin cryptos rallied with XRP prices gaining 62% in the past 24 hours.
Bitcoin, Ether fall; all other top 10 cryptos mixed
Bitcoin prices fell below US$30,500 in the past 24 hours while its trading volume has gained over 20%. Ether also fell. Cardano and BNB were the day’s biggest losers.
Bitcoin inches up, holds above US$30,500; all other top 10 cryptos mixed
Bitcoin trade volumes dropped in the last 24 hours but the token is holding steady above US$30,500. Binance’s BNB token posted the biggest gain while most other top 10 cryptocurrencies traded mixed.
Bitcoin steady above US$30,000, all top 10 cryptos rise on market optimism
Bitcoin breached US$31,000 level in the past 24 hours after falling back to hold above US$30,000. Ether and all other top 10 cryptos gained.
Bitcoin dips but holds above US$30,000, all other top 10 cryptos drop
All top 10 cryptocurrencies, including Bitcoin and Ether, drop over the last 24 hours while investors brace for more interest rate hikes in the U.S.
Japanese gaming firm Sega backs out of blockchain: Bloomberg
Japanese multinational gaming firm Sega Corp. is withdrawing from blockchain-based games as play-to-earn games are “boring,” according to Shuji Utsumi, the company’s co-chief operating officer cited by Bloomberg on Friday.
Singapore’s DBS starts e-CNY bank services for China clients
Singapore-based DBS bank has introduced a “merchant collection solution” using e-CNY – China’s central bank digital currency – to allow corporate clients of DBS China to collect payments from their customers in e-CNY, and avail the automated settlement of e-CNY directly into their bank deposit account.
Australian regulator searches Binance’s local offices: Bloomberg
Australian Securities and Investments Commission (ASIC), the country’s financial services regulator, searched the local offices of Binance on Tuesday as part of an ongoing investigation of the exchange’s derivatives business, a Bloomberg report said.
Airchains to record land ownership with NFTs for Indian city
Indian Web3 firm Airchains has announced a partnership with the New Town Kolkata Development Authority of West Bengal, to release 500,000 NFTs in hopes to enhance registration and transfer of land ownership.
Singapore to require crypto firms to hold customer assets in a trust; restricts lending, staking by retail users
Cryptocurrency service providers in Singapore will have to keep customer assets under a statutory trust before the end of the year, for safekeeping purposes, the city state’s central bank announced Monday.
Blockchain Alliance’s Raj Kapoor says the technology can reshape India’s governance systems
Kapoor founded the India Blockchain Alliance five years ago and gives an update on how the technology is being used in police reports to real estate transactions, as well as challenges of CBDC adoption and plans for tokenization of assets. He spoke in an interview for Forkast IQ.
June 2023
US SEC says Bitcoin ETF applications inadequate: WSJ
The U.S. Securities and Exchange Commission (SEC) said the recent series of spot Bitcoin exchange-traded fund (ETF) applications by asset managers were inadequate and not sufficiently clear, according to a report by Wall Street Journal on Friday.
FXHASH NFT upgrade to allow users to mint on both Tezos and Eth
FXHASH, the largest non-fungible token (NFT) platform by sales volume on the Tezos blockchain, has announced an upgrade that allows users to choose between Tezos and Ethereum, along with on-chain minting for both networks.
Bitcoin, Ether rise along with all other top 10 cryptos
Cyptocurrency investor sentiment continues to improve with Litecoin posting strong gains as its halving event in August gets closer.
Bitcoin dips but holds above US$30,000, all top 10 cryptos drop
Despite a slight dip in crypto prices, positive investor sentiment persists, buoyed by the potential of Bitcoin ETFs, rising institutional adoption, and recovery from regulatory concerns.
Bitcoin holds above US$30,000, most other top 10 cryptos mixed
Bitcoin slipped 0.04% but remained above US$30,000. Ether fell 0.97% to US$1,875.
Singapore outlines design framework for interoperable networks in collaboration with financial firms
The Monetary Authority of Singapore (MAS), the city state’s central bank, has proposed a framework for designing open, interoperable networks for digital assets, developed jointly with the Bank for International Settlements and other financial institutions.
Bitcoin slips but remains above US$30,000; Asian, European, U.S. stock futures stay down
Bitcoin prices drop 1.04% to US$30,416 in 24 hours, while Ether fell 0.98% to US$1,893.
JPMorgan begins euro payments on its blockchain platform: Bloomberg
New York-headquartered investment bank JPMorgan Chase & Co. has launched euro-denominated transactions on its blockchain-based payment system, JPM Coin, Bloomberg reported on Friday.
SoftBank-backed crypto bank Xapo to expand services in India
Xapo Bank, a Gibraltar-based cryptocurrency bank backed by SoftBank, DST Global and Ribbit Capital, has announced its expansion to India, the world’s most populous nation.
Ripple gets in-principle approval for Singapore digital payment license
The Asia-Pacific arm of San Francisco-based technology firm Ripple Labs saidThursday it received in-principle approval to start offering digital payment services in Singapore.
Singapore central bank, Amazon, IMF unveil ‘purpose-bound’ money technical concept
The Monetary Authority of Singapore (MAS) released on Wednesday a whitepaper for “purpose bound” money, detailing a technical overview of digital currencies designed for specific purposes.
Citadel, Fidelity, Schwab-backed crypto exchange launches amid U.S. crackdown
EDX Markets, a cryptocurrency exchange with backing from major Wall Street players such as Citadel Securities, Fidelity and Charles Schwab, officially launched on Tuesday.
Independent Reserve plans Hong Kong office, explores further Southeast Asia expansions
Independent Reserve may have a new Hong Kong office in the “next few months,” the Singapore chief of the Australian crypto exchange said in an exclusive interview. Focusing on institutional clientele, the exchange aims to double trade volumes and expand its user base this year.
Bitcoin remains above US$25,000; NFT sales down; Asian, European markets gain with U.S. futures mixed
Bitcoin, Ether and most top 10 non-stablecoin cryptos rose in Friday afternoon trading in Asia after weeklong slump.
Bitcoin below US$25,000; all top 10 cryptos fall
Bitcoin and Ether extended losses in Thursday afternoon trade in Asia amid U.S. regulator’s clampdown on top crypto exchanges.
Bitcoin, Ether extend losses; XRP drops most among top 10 cryptos
Bitcoin and Ether continued to slide amid lawsuits against top crypto exchanges in the U.S.
Bitcoin rises above US$26,000; all other top 10 cryptos gain as U.S. regulatory battle rumbles on
All top 10 cryptos, including Binance’s BNB, gained on Tuesday afternoon trade in Asia for the first time this week amid ongoing lawsuits with the U.S. SEC.
Bitcoin stays below US$26,000 in mixed market, Binance’s BNB biggest loser in 24 hours
BNB token of crypto exchange Binance dropped 5.5% in 24 hours amid lawsuits against the exchange by the U.S. SEC.
EU’s MiCA crypto rules published in official journal
The Official Journal of the European Union published on Friday the European Union’s landmark Markets in Crypto Assets law (MiCA), stating that the regulation would enter into force in 20 days from the date of publication.
SEC Chair Gary Gensler offered to advise Binance in 2019: CNBC
The U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler allegedly offered to serve as an advisor to Binance, the world’s largest cryptocurrency exchange, in 2019, according to a CNBC report on Wednesday that cited documents filed by the regulator.
Binance moved billions of dollars in client funds to accounts of company officials, SEC says in new filing
The U.S. Securities and Exchange Commission (SEC) has submitted a new court filing to support its lawsuit against the world’s largest cryptocurrency exchange, Binance.
U.S. court orders SEC to respond to Coinbase’s rulemaking petition
The U.S. Securities and Exchange Commission (SEC) has been ordered on Tuesday by the United States Court of Appeals for the Third Circuit to respond to cryptocurrency exchange Coinbase’s pending petition for rulemaking within seven days.
SEC sues Coinbase for violating securities rules a day after Binance lawsuit
The U.S. SEC sued Coinbase, the largest cryptocurrency exchange in the U.S., for allegedly breaching securities rules, less than 24 hours after the regulator sued Binance on similar charges.
Crypto industry reacts to SEC’s lawsuit against Binance
The SEC sued Binance on Monday, amid mounting regulatory scrutiny of crypto exchanges. Industry experts shared insights on what this could mean for Binance and how it could drive crypto innovation out of the U.S.