Articles by

Timmy Shen

Timmy Shen is a Taipei-based journalist at Forkast. Previously, he wrote for Caixin Global and TechNode, covering topics ranging from fintech to fan economy. He also cares about LGBT+ issues and is a shabu shabu fanatic. Timmy holds an MS degree from Columbia Journalism School.

Author's profile on Twitter @timmyhmshen Author's profile on LinkedIn Timmy Shen
Page of 10

December 2022

Sam Bankman-Fried arrested in Bahamas — could other FTX executives be next?

The fall from grace: Once one of the most admired figures in crypto, the former head of the FTX exchange is unlikely to see his Bahamas penthouse anytime soon after being arrested Monday on U.S. charges that are expected to lead to his extradition.

Bankman-Fried may face subpoenas if he does not testify

The embattled founder of failed cryptocurrency exchange FTX may be subpoenaed if he declines to testify at the two hearings on the platform’s meltdown in Washington DC next week.

Bitcoin mining difficulty drops more than 7% as cash crunch hits miners

Miners face a liquidity crunch as cryptocurrency prices slide, with the world’s largest publicly-listed miner, Core Scientific, saying it may run down its cash reserves by the end of this year.

VPN in China may be at risk as users report connection issues on Twitter

VPN services, a reliable tool for Chinese internet users to bypass the Great Firewall, are reporting connectivity issues in the mainland after anti-lockdown protest content flooded Twitter.

Sam Bankman-Fried points blame for FTX collapse to Alameda, says he was blindsided

Bankman-Fried beamed into New York from the Bahamas to give his version of what happened at FTX, mentioning his own failure of oversight and being “frankly surprised” by what was going on at his company’s sister brokerage.

FastForkast headlines

KuCoin’s BTC, ETH reserves overcollateralized, says auditor Mazars

SEC advises public firms to disclose crypto risks

U.S. considering bill to require crypto miners to report carbon emissions

Sam Bankman-Fried hires attorney Mark Cohen amid probes of failed FTX exchange

Sam Bankman-Fried ‘not sure’ if he will testify before Congress on Dec. 13

Crypto exchange Bybit to cut 30% of staff to ‘navigate market slowdown’

Coinbase disables NFT transfer on iOS app, citing hefty in-app fees

Sam Bankman-Fried says not aware of any improper use of funds in FTX downfall

Indonesia central bank releases whitepaper on digital rupiah, to develop wholesale CBDC first

December 2022

Sam Bankman-Fried could face decades in jail if convicted of law violations in FTX collapse, lawyers say

The former CEO of the collapsed crypto exchange “needs to keep his mouth shut” and stop making public comments that could be used against him in future court cases, lawyers tell Forkast.

At FTX’s first bankruptcy hearing, lawyer calls out ‘substantial amount’ of missing, stolen assets

In the first day of FTX’s bankruptcy hearing, FTX counsel says the organization was run as ‘personal fiefdom’ of Sam Bankman-Fried.

Binance says it will set up crypto recovery fund, industry standards group

Changpeng Zhao, founder and chief executive of Binance, tells the B20 Summit in Indonesia that the world’s largest cryptocurrency exchange aims to help improve business and operation standards in the crypto industry.

FTX files for bankruptcy, Sam Bankman-Fried steps down as CEO, FTX US and 130 additional affiliates have filed for bankruptcy, its new CEO John J. Ray III says.

Binance chief says FTX bailout deal ‘didn’t make sense’

Changpeng Zhao, founder of the world’s largest crypto exchange, said its earlier pledge to acquire FTX fell through partially due to regulatory concerns.

Industry reacts: FTX bankruptcy fears rise after Binance scraps rescue

There are not many white knight investors that are large enough to bail out the embattled crypto exchange, industry insiders say.
, and

Crypto exchange outflows rise amid FTX fiasco

Over 5.2 billion stablecoins left crypto exchanges on Wednesday, the most in five months, on-chain data showed.

Crypto exchanges see more withdrawals over fears of FTX liquidity

Large volumes of stablecoins moved out of exchanges, including KuCoin, OKX, Kraken, Huobi and Binance over the past week.

Hong Kong needs engineering talent to reclaim role as digital asset hub

Hong Kong’s latest FinTech policies indicate it wants to reclaim its position as a hub for cryptocurrencies and digital assets, but that means finding the right people for the job.

FastForkast headlines

Indonesia central bank releases whitepaper on digital rupiah, to develop wholesale CBDC first

Digital Currency Group receives offers to buy CoinDesk: report

Changpeng Zhao says Binance has ‘no negative balances involved’ in proof of reserves

Disgraced FTX founder SBF to speak at New York Times Dealbook Summit despite controversy

Crypto mining firm Foundry to buy mining sites from embattled Compute North

Huobi plans Southeast Asia, Europe, Caribbean expansion

Binance says it will hire 600 by year end, bring total employees to 8,000

SEC gets support from New Sports Economy Institute in XRP lawsuit against Ripple

FTX owes US$3.1 billion to top 50 unnamed creditors, court filing shows

Taiwan’s top three crypto exchanges say operations unaffected amid FTX fallout

FTX requests Chapter 15 bankruptcy case moved to Delaware, hearing on Tuesday

HK crypto over-the-counter service Genesis Block to end trading: Reuters

China’s state blockchain infrastructure Xinghuo BIF partners Malaysian MyEG to fuel global push

Ripple gets support from Blockchain Association in XRP lawsuit against SEC

Coinbase officially enters the fray in XRP lawsuit to support Ripple against SEC

Vitalik Buterin seeks to build proof-of-reserves protocol with Binance as ‘guinea pig,’ says Binance chief

Mining rig maker Canaan’s stocks fall as Q3 profits shrink

SEC gets more support in XRP lawsuit against Ripple

Japan’s NTT Docomo to develop Web 3.0 with Accenture, Astar Network

Bitcoin miner Riot Blockchain’s stock drops amid widening Q3 losses

Alameda says ‘wasn’t us’ amid speculation about BitDAO’s 20% plunge

SEC gets more time to file reply briefs in XRP lawsuit against Ripple

Bitcoin mining difficulty falls 0.2% in latest adjustment

Digital wallet Cryptillian seeks to back Ripple against SEC in XRP lawsuit

BIS’ ‘Project Mariana’ to explore CBDC integration with DeFi

Huobi plans to move HQ to the Caribbean, Justin Sun says

Markets: Bitcoin, Ether rise; Dogecoin, Shiba Inu biggest gainers in top 10 crypto

Coinbase seeks to weigh in on XRP lawsuit to support Ripple against SEC

November 2022

World’s largest Bitcoin miner Core Scientific’s stock tumbles amid liquidity crisis

The Nasdaq-listed company expects to deplete its cash resources by the end of this year.

US alleges Chinese spies used Bitcoin to bribe law enforcement officer

Two Chinese intelligence officers allegedly paid a double agent to help steal files related to a federal investigation into a China-based global telecom firm, reported to be Huawei.

Taiwan singer Annie Yi taps LGBT NFTs with artist son to advocate inclusion

The singer-actress and son Harrison Yu said they launched the Theirsverse NFT brand in New York to engage marginalized groups in the early building of Web 3.0.

Binance targets expansion in Philippines, Turkey, executive says

The world’s largest crypto exchange’s regional head of Asia says the Philippines’ GameFi community and rampant inflation in Turkey present opportunities for Binance.
, and

China’s international blockchain push may face Huawei-like obstacles

China spent billions on its ‘belt and road’ infrastructure network to expand trade so what are its plans for a domestic and international digital infrastructure built on blockchain?

FastForkast headlines

Coinbase seeks to weigh in on XRP lawsuit to support Ripple against SEC

Binance confirms equity in Elon Musk’s Twitter acquisition

SEC takes no position on two motions in support of Ripple in XRP lawsuit

BIS’ mBridge shows CBDCs enhance cross-border payment efficiency: HKMA

Meta, Taiwan LGBT group launch NFTs for upcoming pride

Bitcoin mining difficulty logs new high, up 3.4%

Hong Kong, BIS explore CBDC-backed stablecoins in retail prototype

SEC asks court to deny Ripple motion for summary judgment in XRP lawsuit

BNB Chain back online after around $100 mln lost in possible exploit

Binance gets nod to operate in Kazakhstan

Ripple slams SEC’s opposition to brief motions in XRP lawsuit

SEC opposes motions from two firms seeking to back Ripple in XRP lawsuit

Asus launches NFT platform to plug into Web 3.0

Markets: Bitcoin price holds above US$19,000; Ether rises, XRP biggest gainer

Bitcoin miner reserves hit lowest level since Feb 2010

Two firms seek to weigh in on XRP lawsuit between SEC, Ripple