Forkast
Bitcoin News
Bitcoin and Ether rose during Wednesday afternoon trading in Hong Kong, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization.
Zoltan Vardai
Regulation
Police in China’s Shanxi Province made 21 arrests in relation to an alleged USDT money laundering scheme amounting to over US$54 million.
Tom Zuo
Investment Insights
Change won't happen overnight, but tokenization is a trend that will trigger seismic shifts in the financial landscape, writes Hamilton Keats of Krayon Digital.
Hamilton Keats
Bitcoin News
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.
Danny Park
Altcoins
Despite ample Ethereum holdings, traders appear less willing to invest in NFTs. Ethereum wallet growth data in 2023 suggests low NFT sales, while Ether used for NFT sales has dropped to 2021 levels.
Yehudah Petscher
Altcoins
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.
Pradipta Mukherjee
Bitcoin News
Bitcoin and Ether both fell below key price levels earlier but returned above as investors remained optimistic after the U.S. Securities and Exchange Commission (SEC) accepted the second Bitcoin exchange-traded fund (ETF) application for review, from asset manager Valkyrie.
Zoltan Vardai
Market Analysis
China’s Zhejiang province, the home province of e-commerce giant Alibaba Group,has established a metaverse industrial association.
Tom Zuo
Regulation
Stablecoins play a pivotal role as a safe-haven medium of exchange in times of high inflation, writes James Glasscock. But they’re not without risks.
James Glasscock
Bitcoin News
Bitcoin dipped under US$30,000 in early Asia trade before recovering. Ether and other top 10 cryptocurrencies fell, while NFT trading slumped.
Danny Park
Regulation
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.”
Pradipta Mukherjee
Altcoins
XRP continued its rally after XRP issuer Ripple’s favorable ruling last week in its lawsuit with the U.S. Securities and Exchange Commission (SEC).
Zoltan Vardai
Regulation
As the US is engulfed in regulatory strife, Asian countries are rolling out legal frameworks that attract crypto investment, protect consumers and encourage innovation.
Mahin Gupta
Advanced Blockchain Technologies
Beijing municipal government plans to train 10,000 engineering talents each year in emerging technologies including blockchain, AI and big data.
Tom Zuo
Bitcoin News
The U.S. SEC has accepted BlackRock’s application for a spot Bitcoin ETF, a major step for the potential launch of the country’s first spot Bitcoin ETF.
Tom Zuo
Bitcoin News
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.
Danny Park
Bitcoin News
Bitcoin rose to US$31,736 on Friday, bolstering Ethereum to above US$2,000, after the court ruled that the sale of XRP did not constitute a security. Bitcoin needs a close above US$31,000 to pave the way for US$32,500, market experts told Forkast.
Zoltan Vardai
Altcoins
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.
Pradipta Mukherjee
Regulation
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.
Danny Park
Regulation
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.
Danny Park
