SEC FUD can’t stop the fun in NFTs
NFT Community Resilience: Amid SEC scrutiny, builders thrive with Bitcoin NFTs soaring, Polygon’s mystery unveil, art sales surging, and IP licensing advancements.
Inside The Sandbox: A glimpse into the metaverse with co-founder Sebastien Borget
Sebastien Borget of The Sandbox and Yehudah Petscher of Forkast Labs discuss the promise of the metaverse, the role of NFTs and the potential impact of Apple’s Vision Pro.
Why the US is waging war on Binance, Coinbase
Top blockchain and crypto news: Binance, Coinbase in SEC firing line. Solana NFTs slump as Bitcoin’s surge. New dawn in Hong Kong crypto regulations.
Apple’s VR/MR Brings the metaverse back into focus
Apple’s Vision Pro VR is the new door to the metaverse. This headset may not be the first, but like CryptoPunks, it’s set to redefine how we see and use NFTs
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.
Return of the NFTs?
NFTs reach new heights as May sees record-breaking transactions, hinting at widespread adoption.
Hong Kong’s crypto rules offer level playing field, investor protection, says OSL exchange executive
OSL is one of only two digital assets trading platforms in Hong Kong licensed to offer services to professional investors.
What’s next for crypto miners after US debt ceiling deal?
Top blockchain and crypto news: Miners dodge tax bullet. Blur, Binance heat up NFT lending. Chinese cities’ plans reveal nationwide Web3 ambition.
Hong Kong to be digital asset rules sandbox for China, says former city regulator
Virtual assets will receive the same regulatory clarity in Hong Kong as their real-world counterparts, says former Hong Kong SFC regulator Angelina Kwan.
The Flippenings: Bear to Bull Market and Ethereum NFTs to Bitcoin Ordinals
China’s possible entry into NFTs, Russia’s crypto payments, and new token standards fuel market optimism.
Bitcoin and Ethereum: Two titans battle for NFT supremacy
Unpacking the NFT disparity at Veecon & BTC Miami 2023: established ETH vs emerging BTC. CryptoSlam seeks to bridge the gap.
In battle to be Asia’s crypto hub, which city will emerge victorious?
Top blockchain and crypto news: Asia’s crypto hub race. Is US debt ceiling fight a boon or a bane for crypto? China’s red carpet for metaverse investment.
DAO communities – we need to talk about decentralization
Just how decentralized are today’s DAOs? When compared to the world’s largest transnational corporations, not so much, says Pat Rawson, co-founder of Web3 innovation network Curve Labs.
VeeCon: Rekindling the NFT Community’s Fire
VeeCon 2023 NFT conference inspires and strengthens the market with community focus and innovation. Gary Vaynerchuk’s keynote resonates with fans worldwide.
Hong Kong? Singapore? Tokyo? Seoul? Dubai? The race is on for the Web3 hub of Asia | Part 2
While U.S. regulators continue debating over whether cryptocurrencies are securities or commodities, the digital assets industry is being pleasantly welcomed by several Asian cities. And the competition is really hotting up now.
Hong Kong? Singapore? Tokyo? Seoul? Dubai? The race is on for the Web3 hub of Asia | Part 1
As U.S. regulators file lawsuits against cryptocurrency platforms, prompting some digital asset companies to seek more favorable jurisdictions, a fleet of cities in Asia are putting out the welcome mat, seeking to attract the jobs and investment that Web3 technologies promise. Right now, Hong Kong seems to be grabbing the limelight, but it has competition.
Circle: US regulation can help create the ‘most stable stablecoin’
Circle Vice President of Global Policy Corey Then says he is optimistic that U.S. regulatory developments can eventually benefit local players despite ongoing scrutiny.
Hong Kong’s e-HKD pilot puts the world on notice
Rollout of the central bank digital currency in Hong Kong is a potential game-changer and a move that others may soon look to follow.
Bitcoin history shows first financial transaction was almost an NFT
Internet sleuths unearth the first financial transaction on Bitcoin, showcasing the potential of NFTs.
Bank of Korea and financial regulator in turf war over who supervises crypto industry
Bank of Korea, the central bank, seems uncomfortable with the Financial Services Commission, the country’s regulator, having the mandate over the cryptocurrency industry. The bank is pushing for more say, arguing crypto can influence the stability of the overall financial market and that involves the central bank.
Looking to expand Web3 activities into Japan? Watch the biggest firms for clues, says gaming protocol founder.
While the community might be small, there’s a growing buzz around Web3 in Japan, with overseas companies now taking note. For clues on how to make it big in the land of the rising sun, follow the lead of the nation’s largest firms, says Sebastien Guillemot, co-founder of Paima Studios.
Elon Musk’s NFT rocket launch. What has he done to Milady?
NFTs were ready for takeoff this week and Elon Musk’s tweet blasted it off.
Japan government’s crypto czar touts nation’s Web3 capabilities
Japan was an early believer in blockchain and cryptocurrencies until exchange hacks brought a crackdown. But that was then. Now the government has become a crypto cheerleader.
Bitcoin congestion issues continue amid BRC-20 memecoin, Ordinals surge
Bitcoin network faces heightened congestion with over 5 million inscriptions, exacerbating block space demand as BRC-20 tokens achieve a market cap milestone of $1 billion, contributing to increased activity on the network.
Gamers stand to win big with NFTs, they just don’t know it yet
NFTs are changing in-game item ownership and value, yet the gaming industry remains skeptical. With microtransactions set to exceed $76 billion this year, it’s time for gamers to understand the benefits of NFT technology.
Largest banks should fill crypto void after lender failures, says Standard Chartered’s Geoff Kendrick
In the final installment of a three-part interview series, Geoff Kendrick, head of crypto research at Standard Chartered Bank, outlines the lender’s approach to crypto and why he thinks exploration of blockchain use cases is just beginning.
Central bank digital assets can legitimize risk in the crypto space, says Standard Chartered’s Geoff Kendrick
In the second installment of a three-part interview series, Geoff Kendrick, head of crypto research and EM FX West at Standard Chartered Bank, talks altcoins, stablecoins and the legitimization of crypto risk through central bank digital assets.
A tidal wave of wash sales makes up most NFT volume
CryptoSlam introduces new wash trade metrics to help traders and professionals uncover the truth behind NFT sales volumes across major blockchains.
Bitcoin rediscovers its mojo as banks stumble, says Standard Chartered’s Geoff Kendrick
Against a backdrop of increasing turmoil in traditional banking, Bitcoin is on a four-month winning run that could, tailwinds permitting, soon turn into a surge.
Ethereum had over US$635 mln in NFT wash trades in April, CryptoSlam reveals
Nearly 60% of April NFT sales on Ethereum have been flagged as wash trades, with Blur marketplace’s token farming incentivizing the activity, CryptoSlam data shows.
Could Bitcoin mining make renewable energy more profitable?
Andrew Webber of Digital Power Optimization says more renewable energy would get built “if it was more profitable” and that’s where Bitcoin mining can help.
Trading, talent and tech leveling up in NFTs
NFT prices and trading volume are dropping but this could be an indicator of a maturing market.
Bitget crypto exchange still hiring, eyes Hong Kong license, to rebrand BitKeep wallet
Seychelles-based cryptocurrency exchange Bitget expects more clarity on Hong Kong’s licensing regime from June as the city pushes ahead with plans to attract blockchain and cryptocurrency entrepreneurs.
Why I’m excited about commercial IP NFTs
NFT IP allows traders to multiply their brands and grow. The Nakamigos collection has leveraged this advantage of the technology.
Coinbase says SEC’s legal threats punish transparency, undermine public listing process
Coinbase said the Securities and Exchange Commission seems to be undermining its own role as the monitor of companies registering to sell shares to the public
NFTs: Bear Market or Burst Bubble?
The culture of collecting unique digital assets may be here to stay, but data suggests that NFT prices may continue to fall.
Japan’s Web3 pivot needs global mindset, flexibility to succeed, says incubator founder
Japan’s welcome mat for Web3 is shifting the tone from “buzzword” to opportunity, but success will hinge on the authorities adopting a global, flexible view toward this new technology, says Yudai Suzuki, co-founder of Fracton Ventures.
Bitcoin’s mempool congestion eases after millionth Ordinals inscription
Mempool congestion issues subsided after the Bitcoin network surpassed 1 million Ordinals inscriptions.
From billionaire to Montenegro jail: The rapid rise and fall of Terra chief Do Kwon
South Korea’s Do Kwon went from a poster boy of digital finance as a co-founder of the US$40 billion Singapore-based Terraform Labs to a fugitive on Interpol’s wanted list, all in a matter of several rollercoaster years. He’s now in a Montenegro jail where he may face more time in detention as the U.S. and South Korea demand his extradition to face a long list of charges, including securities fraud – allegations he has repeatedly denied. The following is a timeline of how we got here.
Politics will be Trojan Horse for NFTs
Former President Donald Trump’s NFT collection’s floor price may be dropping, but media coverage may extend his profits from the digital trading cards.
East meets West at DAO Tokyo conference as Japan plays catch up
The global culture of decentralized autonomous organizations arrived in Japan last week for DAO Tokyo, the first event of its kind in Asia according to the organizers, drawing over 350 founders and contributors from all corners of the world for discussions on all things DAO.
Kraken to withdraw US$1.17 bln of staked Ether in line with SEC ruling, settlement
As part of its February settlement with the Securities and Exchange Commission (SEC), the U.S.-based Kraken crypto exchange has submitted the largest Ether withdrawal request since Wednesday’s upgrade to the Ethereum blockchain. The SEC ordered Kraken to shut down what it called unregistered staking programs.
Forkast NFT indexes reveal the hidden costs of y00ts, DeGods’ moves across blockchains
Forkast Labs’ NFT indexes reveal Polygon’s US$3 million incentive to move y00ts over to its blockchain may have cost its users.
Ethereum Shanghai upgrade prompts Ether withdrawals, but no stampede for exits
Ether holders withdrew more than US$102 million worth of Ether in the first six hours after the Shanghai upgrade opened the door to cash out the staked token, though analysts see the amount as within expectations.
Crypto firms hardpressed to find U.S. bank partners as industry blames ‘Operation Choke Point 2.0’
NYDFS superintendent Harris called the idea of Operation Choke Point 2.0 “ludicrous,” but industry participants largely disagree. Was the shutdown of the three largest crypto-friendly institutions a coordinated effort to unbank crypto?
NFT.NYC is back to deliver the Woodstock of NFTs
The NFT industry is gathering at New York for NFT.NYC, but the overloading frequency of events could be causing “event fatigue.”
Ethereum blockchain upgrade unlocks US$34 billion in Ether, what does it mean for crypto prices?
The upcoming upgrade to the Ethereum blockchain will allow users to withdraw millions of “staked” Ether, the native cryptocurrency, for potential sale. That would typically indicate a flood of selling pressure awaits the token, but not everyone is buying that.
Blur nemesis OpenSea releases OS Pro trading tools, Gemesis NFT
OpenSea has reignited the marketplace battle by introducing its own pro tool. What’s in it for NFT traders?
Crypto exchange Fasset hopes to win Indonesia license next month
Dubai-based Fasset says Indonesia digital asset adoption is still in early stages, but the country’s young population is taking to crypto faster, encouraging exchanges to move in despite infrastructure constraints.
Binance rejects U.S. charges of violating trading rules, manipulating markets
Binance CEO Changpeng Zhao said the charges are “an unexpected and disappointing civil complaint” in response to the CFTC lawsuit filed on Monday against him and the world’s largest crypto exchange.
Hong Kong blockchain initiatives natural evolution for finance hub, says Signum Digital CEO
Hong Kong’s new crypto licensing regime isn’t the only bullish sign for the city’s digital asset industry, says Signum Digital, the first company to win a preliminary license to handle securitized tokens in the city.
Hong Kong may face backlog in virtual asset license applications as demand grows, former SFC regulator says
Angelina Kwan, who helped shape early Hong Kong automated trading services and internet trading regulation, told Forkast the upcoming virtual asset licensing regime is almost identical to that for traditional financial institutions.
India imposes money laundering regulations on crypto industry
India’s crime fighting agencies have been investigating crypto exchanges and individuals on money laundering charges and have now put the onus on exchanges to report suspicious transactions.
Circle’s USDC stablecoin regains parity as regulators act to stop bank run risk
Circle said its $3.3 billion of USDC cash reserves at the collapsed Silicon Valley Bank will be available Monday after regulators stepped in to backstop deposits.
Bet on the Black? Take a punt on the Red? Or maybe put it all down on an NFT?
Savvy traders are quick to extract liquidity to reinvest into the “slot machines” of the NFT casino, according to CryptoSlam’s NFT strategist.
Most of NFT industry working on recycled liquidity, says Forkast Labs’ co-founder
NFT sales and market capitalization show rising investor activities, but recycled liquidity and wash trading may tell a different story, Forkast Labs co-CEO says.
Ethereum validators win ‘short term’ as Blur, OpenSea rivalry drives up gas fees
Ethereum validators are benefiting from the increasingly heated competition between the two largest NFT marketplaces that is driving up gas fees, but the windfall may not last much longer.
Where is China’s digital economy heading? The ‘Two Sessions’ may give some pointers
Look for blockchain, self-reliance in technology discussions in China’s biggest political meetings of the year as China’s President Xi Jinping’s aims to build a digital economy.
Singapore’s DDEx eyes security token offerings, mulls adding more cryptocurrencies
DBS bank’s digital exchange, which serves institutional clients, said macroeconomic conditions last year were not suitable for security token offerings (STO), but it will explore opportunities for such listings in 2023 and plans to add more crypto tokens.
Bitcoin’s price gains this year bring needed relief to cash-strapped crypto mining industry
Officials at Bitcoin mining companies say the rebound in prices so far this year for the world’s biggest cryptocurrency has thrown a lifeline to the industry after some miners sought protection from creditors last year amid the slump in the token’s price.
At least US$577 million of Blur-linked NFT sales are wash trades, CryptoSlam says
NFT data aggregator Cryptoslam has flagged more than half a billion dollars worth of NFT wash trades related to Blur since the marketplace’s Valentines airdrops started
Hong Kong’s new crypto regulation may lure Web3 firms back, experts say
Hong Kong’s proposed crypto licensing regime received Huobi Global’s pledge to return to the city, and more companies may follow, industry experts told Forkast.
Centralized crypto exchanges are dying, so long live centralized crypto exchanges?
Multi-billion dollar bankruptcies, fraud allegations, scandal, and plunging cryptocurrency prices in 2022 all characterized why investors came to distrust centralized exchanges. Yet, some commentators expect platforms to become ever more centralized … and regulated.
How tokenizing real estate can turn the ‘rules’ on their head – by mastering them first
The digital asset space is ripe for regulation, and tokenized real estate is no exception. But views differ when it comes to finding a framework that fits.
Truck industry as real-world crypto use case? How blockchain could replace system that leaves U.S. truckers out of pocket
The current payment system relied on by truck drivers runs through third parties and adds costs to supply chains and consumers. Could blockchain tech provide an alternative, and would truckers trust it?
Be careful what you wish for? Regulators pick up pace in the crypto industry crackdown
Last year was memorable in the emerging world of digital assets for the sheer number of corporate failures. The industry itself has been asking for clearer legal guidelines to help development. Is that what’s happening now?
A house divided? SEC Commissioner Peirce attacks agency’s fines against Kraken exchange
Hester Peirce said using enforcement action to dictate law in an emerging industry is the act of a “lazy” regulator, after the SEC fined the U.S.-based Kraken crypto exchange for failing to register staking programs.
Blockchain developers have taken a decentralized interest in cloud storage – will it shake up the industry?
Blockchain developers want a piece of the multi-billion dollar cloud computing pie. Do current heavyweights in the industry – Amazon, Google and Microsoft – have cause for concern?
South Korea prosecutors say Serbia ready to help fraud investigation into Terra’s Do Kwon
Prosecutors flew to Serbia earlier this month as part of an investigation into Terraform Labs chief Do Kwon, who faces fraud accusations related to the US$40 billion collapse of his Terra-Luna cryptocurrency project in May last year.
JPMorgan report shows institutional trader interest shifting to AI from blockchain after crypto slump
Nearly three out of four institutional traders surveyed “have no plans to trade crypto,” while most see Artificial Intelligence as the next big disrupter.
Bankrupt FTX threatens legal action to claw back donations to politicians, charities
The move marks a shift in tone from December when recipients of FTX donations were requested to “voluntarily” return the funds.
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.