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.'
March 2023
Bitcoin, Ether rise along with most top 10 cryptos, amid ‘bull trap’ warning
Bitcoin and Ether gained in Wednesday afternoon trading in Asia, along with most other top 10 non-stablecoin cryptocurrencies by market capitalization. Asian equities mostly rose on Wednesday as investors digested economic recovery indications as Hong Kong ended its mask mandate.
February 2023
Bitcoin, Ether prices fall; Solana biggest loser in top 10 cryptos
Bitcoin and Ether fell in Tuesday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization, despite U.S. equities rising on Monday after last week’s selloff. Asian stock markets mostly rose on Tuesday as investors absorbed key economic indicators across the region.
Japanese tech, finance firms sign pact to build metaverse economic zone
About 10 Japanese companies, including Fujitsu, Mitsubishi and Sumitomo Mitsui, have agreed to advance Japan’s metaverse plans with the establishment of the “Japan Metaverse Economic Zone”.
Markets: Bitcoin, Ether gain; Polygon, XRP biggest losers
Bitcoin and Ethereum rose in Monday afternoon trade in Asia along with most of the top 10 non-stablecoin cryptocurrencies by market capitalization. Asian markets dropped on Monday, following last Friday’s Wall Street selloff, as investors brace for more interest rate hikes in the U.S. due to persistently high inflation.
Janet Yellen urges strong regulatory framework for crypto as India leads G20 push for regulation
U.S. Treasury Secretary Janet Yellen told Reuters after the G20 meeting in India on Saturday that while the U.S. has not indicated any outright bans, it is critical to put in place a strong regulatory framework for the cryptocurrency industry.
Markets: Bitcoin, Ether extend losses; Polygon, Solana biggest losers
Bitcoin and Ether fell in Wednesday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization.
Markets: Bitcoin gains, returns to US$25,000; XRP biggest winner in top 10 cryptos
Bitcoin and Ether prices rose in Tuesday afternoon trade in Asia, while all other top 10 non-stablecoin cryptocurrencies were mixed. XRP led gains at 2.37%, while Solana and Polygon dropped saw the largest declines.
Markets: Bitcoin rises above US$24,000; Solana gains most in top 10 cryptos
Bitcoin rose above US$24,000 in Monday afternoon trade in Asia while all other top 10 non-stablecoin cryptocurrencies were mixed. Ether gained 0.18%, while Solana strengthened the most across the top 10 cryptos.
Markets: Bitcoin, Ether extend gains; Cardano rises most among top 10 cryptos
Bitcoin and Ether prices strengthened in Wednesday afternoon trade, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Cardano led gains at 6.91%, followed by Dogecoin at 5.21%, though prices of top 10 tokens remain subdued on the week.
Singapore’s DBS Digital Exchange’s Bitcoin trade volume grows 80% in 2022
DBS Digital Exchange (DDEx), one of Asia’s first bank-backed digital exchanges, has reported a year-on-year increase of 80% in Bitcoin traded in financial year 2022, while the number of Bitcoin custodized with the bank doubled from 2021.
Markets: Bitcoin, Ether drop; BNB biggest loser in top 10 cryptos
Bitcoin and Ether dropped in Tuesday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Binance’s native token BNB led the day’s decline across the top 10 cryptos.
India discussing crypto, regulation with G20, says finance minister
As India moves forward with its one-year presidency of the Group of 20 (G20), it is discussing cryptocurrency and regulation with the group’s members, India’s Finance Minister Nirmala Sitharaman said.
Markets: Bitcoin, Ether prices extend losses; Dogecoin sole gainer among top 10 cryptos
Bitcoin continued to trade below US$22,000 in Monday afternoon trading in Asia. All other top 10 non-stablecoin cryptocurrencies dropped except Dogecoin.
Markets: Bitcoin, Ether extend gains; Polygon leads top 10 cryptos
Bitcoin and Ethereum extended gains on Wednesday afternoon in Asia along with all other top 10 non-stablecoin cryptocurrencies by market capitalization.
Markets: Bitcoin rises as Polygon gains most in top 10 cryptos
Bitcoin prices gained in Tuesday afternoon trading in Asia while Ethereum dropped with most other top 10 non-stablecoin cryptocurrencies by market capitalization.
Markets: Bitcoin, Ether extend losses: Solana, Polygon biggest losers
Bitcoin and Ethereum prices dropped in afternoon trading on Monday in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Bitcoin continued trading under US$23,000, while Solana and Polygon led losses.
Markets: Bitcoin stays above US$23,000; Cardano leads gains in top 10 cryptos
Bitcoin traded above US$23,000 throughout Wednesday afternoon trading in Asia, while Ethereum and other top 10 non-stablecoin cryptocurrencies were mixed. Cardano led gains with 2.03% followed by XRP’s 1.13%.
India crypto industry on ‘Stairway to Heaven’ as government ignores requests in Budget
Cryptocurrency exchanges in India had lobbied the government to reduce taxes introduced last year, arguing the levies were backfiring by driving local investment offshore.
January 2023
Markets: Bitcoin, Ether drop; Dogecoin rebounds
Bitcoin and Ethereum prices fell during Tuesday afternoon trading in Asia along with most other top 10 non-stablecoin cryptocurrencies. Dogecoin was the exception in that list as it rebounded from morning losses.
Markets: Bitcoin, Ether extend gains; Solana leads among top 10 cryptos
Bitcoin and Ethereum were up in Monday afternoon trading in Asia, while all other top 10 non-stablecoin cryptocurrencies were mixed. Solana led gains at 5.08%.
Markets: Bitcoin, Ether extend losses; Solana, Cardano biggest losers in top 10 cryptos
Bitcoin and Ethereum fell in Wednesday afternoon trading in Asia, as Solana and Cardano led losses among the other top 10 non-stablecoin cryptocurrencies by market capitalization.
Markets: Bitcoin rises above US$23,000; Polkadot, BNB lead gains across top 10 cryptos
Bitcoin broke the US$23,000 resistance line in Tuesday afternoon trading in Asia, with most other top 10 non-stablecoin cryptocurrencies by market capitalization also higher.
India’s CoinDCX exchange says crypto tax rules are reducing government revenue
India announces its full year budget on Feb. 1, the last before general elections in 2024, and the cryptocurrency and digital asset industry is lobbying the government for changes in tax rules, among others.
Markets: Bitcoin slips, remains above US$22,000; Dogecoin leads gains
Bitcoin dipped 0.89% in Monday afternoon trading in Asia but remained above a four-month high of US$22,00, while all other top 10 non-stablecoin cryptocurrencies by market capitalization were mixed.
Accelerator Graviton to help Indian Web3 start-ups get funding
India-focused accelerator Graviton has announced an initiative to help Indian Web 3.0 start-ups get up to US$50,000 in funding
Markets: Bitcoin dips below US$21,000
Bitcoin slipped below US$21,000 in Friday afternoon trade in Asia while prices of other top 10 non-stablecoin cryptocurrencies were mixed.
Binance among top Bitcoin receivers of Bitzlato’s illegal funds, FinCEN says
The Financial Crimes Enforcement Network (FinCEN), a bureau of the United States Department of the Treasury that combats financial crimes, has named Binance, the world’s largest cryptocurrency exchange, as one of the top three receiving counterparties of Bitzlato Ltd.
Markets: Bitcoin, Ethereum extend losses
Bitcoin and Ethereum fell Thursday afternoon in Asia, along with all other top 10 non-stablecoin cryptocurrencies on market concerns the U.S. Federal Reserve may increase interest rates further to tackle inflation.
National Australia Bank to launch AUDN stablecoin: report
National Australia Bank, one of the four major banks in the country, has created a stablecoin AUDN for cross-border transactions and carbon credit trading, according to an Australian Financial Review report.
Coinbase asks Japan customers to withdraw holdings as it halts operations
Coinbase Global Inc., the world’s second largest cryptocurrency exchange by trade volume, has asked customers in Japan to withdraw crypto and fiat holdings by Feb. 16, as it halts operations “to conduct a complete review” of its business in the country.
Markets: Bitcoin, Ether rise further; Dogecoin leads gains in top 10 cryptos
Bitcoin and Ethereum gained in Wednesday afternoon trading in Asia, while price movements of top 10 non-stablecoin cryptocurrencies were mixed, with Dogecoin leading gains.
India’s WazirX crypto exchange releases proof of reserves, says 90% of user assets in Binance wallets
Some 90% of user assets at WazirX, India’s largest crypto exchange by volume, are held in wallets at Binance while the remaining 10% are stored in hot and warm wallets, revealed WazirX’s proof of reserves that the company released on Wednesday.
Thai regulator probes Zipmex crypto exchange amid acquisition: report
Thailand’s Securities and Exchange Commission (SEC) has written to cryptocurrency exchange Zipmex Thailand seeking clarification on whether it has been operating as a digital-asset fund manager without permission, according to a Bloomberg report.
Markets: Bitcoin, Ether strengthen; XRP leads gains in top 10 cryptos
Bitcoin and Ethereum prices rose in Wednesday afternoon trading in Asia along with all other top 10 non-stablecoin cryptocurrencies, with XRP leading gains.
India’s CoinSwitch exchange to add non-crypto products amid punishing taxes on digital asset trading
Indian cryptocurrency exchanges faced a flurry of taxes on trading last year that saw volumes across most platforms drop as much as 90%, slashing income from trading fees. What’s a crypto exchange to do? Maybe sell mutual funds?
Coinbase to cut 20% of its remaining workforce
Coinbase, the largest cryptocurrency exchange in the U.S., will be letting go of about 950 employees, or about 20% of its current workforce, as part of “a further restructuring plan,” which is expected to be “substantially complete” by the second quarter of 2023.
India’s Decimal Point Analytics gets US$750,000 grant funding to develop tokenization solutions
India’s Decimal Point Analytics (DPA), a research and data analytics firm, has received grant funding of up to US$750,000 from The Hashgraph Association, a Switzerland-headquartered non-profit organization, to develop an asset tokenization platform on Hedera’s distributed ledger technology (DLT) network.
Markets: Bitcoin slips, Cardano leads losses in top 10 cryptos
Bitcoin dropped in afternoon trading on Tuesday along with most other top 10 non-stablecoin cryptocurrencies by market capitalization. Ethereum rose further while Dogecoin led gains.
Slumdog Millionaire composer A. R. Rahman tunes into metaverse
Indian music composer A. R. Rahman, who won Best Original Score at the Oscars for the movie Slumdog Millionaire, has launched the ‘Katraar’ metaverse platform to promote new music creations and other art forms.
Markets: Bitcoin, Ether extend rise; Cardano leads gains in top 10 cryptos
Bitcoin, Ethereum extended gains in afternoon trade in Asia on Monday along with the top 10 non-stablecoin cryptocurrencies by market capitalization. Cardano rose the most in the last 24 hours, followed by Polygon, BNB and Dogecoin.
Indian crypto exchanges may lose US$1.2 trillion of trade volume in next four years: research
India’s current cryptocurrency tax structure “may lead to a loss of approximately US$1.2 trillion of local exchange trade volume in the next four years,” according to research by Esya Centre, a technology policy think tank in India.
Indonesia to set up crypto stock exchange this year: report
Indonesia plans to set up a crypto stock exchange in 2023, ahead of moving regulatory powers to securities authorities from a commodities jurisdiction.
Ripple expects SEC ruling in first half, clearer global regulations for digital assets in 2023
Ripple Labs Inc. expects a court decision in the first six-months of this year in the case filed against the company by the U.S. Securities Exchange Commission. The SEC sued Ripple in December 2020 for allegedly selling US$1.3 billion in unregistered securities.
Markets: Bitcoin, Ether inch up, XRP leads gains in top 10 cryptos
Bitcoin and Ethereum prices inched up in Tuesday afternoon trading in Asia, along with most other top 10 non-stablecoin cryptocurrencies by market capitalization. XRP led gains at 3.22%, followed by Polygon at 1.76% and Litecoin at 1.74%.
Hong Kong financial service providers gear up for retail crypto traders
Hong Kong’s financial services providers, including local brokers and fund managers, are seeking advice to prepare for new licensing requirements which will allow them to provide services to retail traders, according to a media report.
Markets: Bitcoin, Ethereum up, Cardano leads gains
Bitcoin and Ethereum prices were little changed on Monday morning in Asia along with most non-stablecoin top 10 cryptocurrencies by market capitalization. Cardano led gains with 1.65% while BNB lost most with 0.96%.
December 2022
FTX customers file lawsuit for priority repayment
Former customers of FTX have filed a class action lawsuit against the bankrupt cryptocurrency exchange and its top executives, including Sam Bankman-Fried, to seek priority rights to repayment before any non-customer creditors.
Kraken to shut Japan operations
Kraken announced on Wednesday that it will “cease its operations” in Japan and deregister from the Financial Services Agency.
Markets: Bitcoin, Ether fall, Dogecoin extends holiday blues
Bitcoin and Ethereum prices fell on Wednesday afternoon in Asia along with all other non-stablecoin top 10 cryptocurrencies by market capitalization.
Markets: Bitcoin, Ether extend gains; XRP biggest winner in top 10 cryptos
Bitcoin and Ethereum extended gains on Tuesday afternoon in Asia along with almost all other non-stablecoin top 10 cryptocurrencies by market capitalization. XRP was the biggest winner, rising nearly 4.8% in the last 24 hours.
India’s religious festivals coming to a metaverse near your avatar?
India loves religious festivals, but are its citizens ready to attend such celebrations in virtual reality? An Indian startup reckons they are and launched its first effort this year, saying 20,000 avatars showed up.
Markets: Bitcoin, Ether inch up, Dogecoin leads decline across top 10 cryptos
Bitcoin and Ethereum inched up in Monday afternoon trading in Asia. Most other non-stablecoin top 10 cryptocurrencies by market capitalization were little changed
The last 12 months the year to forget, says India’s WazirX crypto exchange
A lot of the troubles for India exchanges in 2022 will run into next year as they shed staff and run down reserves to stay afloat, and not all are expected to make it.
India’s CoinDCX publishes full proof of reserves
Cryptocurrency exchange CoinDCX, India’s first crypto unicorn, published its complete proof of reserves (PoR) on Monday detailing its USDT liabilities and reserves.
Bitcoin up 5% as U.S. inflation cools in November
Bitcoin jumped more than 5% on Tuesday evening Hong Kong time, after the U.S. Bureau of Labor Statistics said that the consumer price index (CPI), a key inflation indicator, was up 7.1% in November from a year earlier, less than the expected 7.3%, and down from 7.7% in October. The CPI rose 0.1% in November from October.
November 2022
Singapore’s Matrixport eyes US$100 mln fundraiser at US$1.5 bln valuation
Singapore-based crypto lender Matrixport is hoping to raise US$100 million at a valuation of US$1.5 billion, according to a Bloomberg report citing unnamed sources.
Binance releases proof of reserves
The world’s largest cryptocurrency exchange Binance released its proof of reserves (PoR) on Friday to provide transparency on user funds.
India’s CoinDCX crypto exchange publishes proof of reserves
Cryptocurrency exchange CoinDCX, India’s first crypto unicorn, published its proof of reserves on Thursday
Fake crypto awards on the rise during football world cup: research
Global cybersecurity firm Kaspersky has warned against fraudsters taking advantage of football fans during the ongoing FIFA World Cup Qatar 2022.
Question: How do financial rules work when rogue individuals run companies? Answer: Not very well.
Calls for tougher rules on cryptocurrency have been echoing ever louder through the offices of global financial regulators since the collapse of the FTX exchange. But the firm did not invent dodgy business practices, so what can regulators and the industry do?
Japan’s central bank to test digital yen with three megabanks: report
The Bank of Japan, the country’s central bank, will conduct experiments with three megabanks and regional banks on a digital yen, according to a report by Nikkei on Wednesday.
India’s CoinSwitch launches platform to enable multi-exchange trading with single login
Indian crypto exchange CoinSwitch has launched CoinSwitch Pro, a multi-exchange trading platform that lets users trade crypto assets in Indian Rupees across multiple exchanges with a single login.
Singapore’s DBS bank completes intraday repurchase transaction on JPMorgan’s blockchain-based platform
Singapore-based DBS bank, the largest lender in Southeast Asia, has said it is the first bank in Asia to complete an intraday repurchase transaction on a blockchain-based network.
Crypto exchange Bitget to expand workforce by 50%, registers in Seychelles
Cryptocurrency exchange Bitget plans to hire about 400 more staff, taking its total workforce to 1,200 by the first quarter of 2023, the company said in a statement on Tuesday.
Football most popular sport among crypto investors: KuCoin survey
Football is the most popular sport among crypto investors and 48% of fans among these investors are interested in trading fan tokens for sports teams during the FIFA World Cup, according to a new survey by Seychelles-based crypto exchange KuCoin.
Hong Kong residents spend most time online globally: NordVPN survey
Hong Kong residents spend the most time online – almost half of their lives – mainly watching videos on YouTube followed by scrolling through social media channels, according to a new survey by virtual private network provider NordVPN.
Singapore’s central bank says not possible to protect local users from FTX fallout
The Monetary Authority of Singapore (MAS) said on Monday that it was not possible for the central bank to protect local users from FTX’s collapse as the crypto exchange operated offshore and was not licensed by MAS.
Crypto exchange Bullish says it has no exposure to FTX
Crypto exchange Bullish has said it does not have any exposure to now-bankrupt FTX and Alameda Research, and expects FTX’s bankruptcy to have no impact on Bullish’s operations. The exchange is operated by Bullish (GI) Limited and regulated by the Gibraltar Financial Services Commission.
Bahamas regulator orders transfer of all FTX digital assets to government wallet
The Securities Commission of The Bahamas (Commission) on Nov. 12 ordered the transfer of all digital assets of FTX Digital Markets to a digital wallet controlled by the Commission, for “safekeeping,” in an announcement on Nov. 17.
New FTX chief says lack of controls at bankrupt exchange ‘unprecedented’
John J. Ray III, a Chicago-based lawyer and the new CEO of now-bankrupt crypto exchange FTX, has criticized the lack of “appropriate corporate governance” across FTX Group companies under Sam Bankman-Fried, the founder and former CEO of FTX.
Indian crypto exchange CoinSwitch says proof of reserves shows sufficient reserves to match clients’ stake
Indian crypto exchange CoinSwitch’s proof of reserves summary, that was shared on Thursday, stated that as of Nov. 4, the exchange’s overall holdings of crypto and fiat balances in Indian Rupees (INR) exceeded those held by the exchange on behalf of its users.
Crypto winter may last until end of 2023: Coinbase research
The collapse of FTX may extend crypto winter to the end of 2023, according to a monthly outlook report by U.S.-based crypto exchange Coinbase dated Nov. 15.