Tether fined $41M for misleading claims it was fully backed by fiat

Tether, the issuer of the world’s most popular stablecoin USDT, has been fined US$41 million by the U.S. Commodity Futures Trading Commission (CFTC) over “untrue or misleading” claims that its USDT stablecoin was fully backed by corresponding fiat currencies. Fast facts The CFTC said in a Friday statement that from at least June 1, 2016 to […]

Crypto trading platform Bakkt goes public

U.S.-based Bakkt, a cryptocurrency custodian and trading platform, went public Monday on the New York Stock Exchange after an announcement by Intercontinental Exchange, or ICE, which owns Bakkt and the NYSE. Fast facts Unlike its competitor Coinbase, which chose a direct listing on Nasdaq, Bakkt is going public by merging with a special-purpose acquisition company, […]

Steam, Epic Games take opposing stance on blockchain, NFT games

Two of the largest PC video game stores, Steam and Epic Games, have adopted different approaches to blockchain and non-fungible token (NFT)-based games — Steam has shunned them while Epic is open to it. Fast facts As NFT games like Axie Infinity are soaring in popularity, Valve, which operates Steam, has added games “built on […]

20% crypto tax is critical issue in next South Korea presidential election

Candidates and possible contenders in South Korea’s next presidential election call for delaying a plan to tax virtual assets — currently scheduled to begin in January — in a bid to appeal to millennial and Generation Z voters. Fast facts Lawmakers from both the ruling democratic party and the opposition party have spoken out against […]

Chinese President Xi Jinping underscores blockchain importance in transport

Chinese President Xi Jinping said on Thursday at the United Nations Global Sustainable Transport Conference the country needs to uphold an innovation-driven approach and create more drivers for development. He specifically mentioned in his remarks the integration of blockchain. Fast facts Xi said more should be done to develop smart transport and smart logistics and […]

E-CNY soft rollout continues as Beijing Capital Airport accepts CBDC payment

The soft rollout of the electronic Chinese yuan (e-CNY) continues across China in advance of its expected formal launch in time for the Beijing Winter Olympics in February. In the latest sign, Beijing Capital International Airport has become the first airport in the country to support payment by the central bank digital currency (CBDC), which […]

Ripple joins Digital Pound Foundation as it looks to expand its CBDC business

Ripple, a San Francisco-based blockchain payments company, has joined the Digital Pound Foundation, a non-profit organization supporting the implementation of a digital pound in the United Kingdom, according to a Ripple blog post. Fast facts As a foundation member, Ripple will be represented on the board by Susan Friedman, Ripple’s head of policy. Other foundation […]

Sotheby’s to auction digital art in a digital world

Sotheby’s, the 277-year-old auction house, is launching its own immersive digital experience to offer prospective buyers a new way of engaging with the latest art-world craze — non-fungible token (NFT) artworks — according to a press release shared with Forkast.News. Fast facts Sotheby’s is creating a metaverse to allow users to explore and learn about […]

China Mobile launches a network-less E-CNY wallet

The state-run Industrial and Commercial Bank of China (ICBC) and telecommunications service giant China Mobile on Wednesday jointly announced the launch of a fiat digital-yuan hard wallet that allows equipped phones to transact in e-CNY without a mobile network. Fast facts The wallet, SIM Pay, is a super-SIM card with near-field communication (NFC) technology. NFC […]

Binance taps former Dubai financial services official as regulatory liaison chief

Binance — the world’s biggest cryptocurrency by trading volume — today announced the appointment of Mark McGinness, former head of international relations at the Dubai Financial Services Authority (DFSA), as its chief regulatory liaison officer, according to a company statement. Fast facts McGinness’ appointment comes as Binance bolsters its compliance efforts and navigates regulatory headwinds […]

Crypto mining pool AntPool to stop IP access from mainland China

AntPool, currently the world’s second-largest Bitcoin mining pool in terms of real-time hashrate, announced today that it is stopping the connection of IP addresses from the Chinese mainland beginning Friday. Fast facts AntPool said in its statement it decided to make the adjustment to abide by the Chinese government’s relevant rules on crypto mining and […]

Taiwanese fintech startup XREX collaborates with TRM Labs to ramp up security

XREX Inc., a Taipei-headquartered crypto-fiat exchange and trade technology platform, today announced a partnership with TRM Labs, a blockchain intelligence provider, to ramp up its platform’s security and enhance its ability to combat fraud and suspicious activities. Fast facts XREX said in a statement it has put to use the risk management tools developed by […]

East Asia falls from 1st to 4th place in share of global crypto transaction volume

East Asia’s share of global cryptocurrency transactions plunged to 14% in June 2021 from 31% in April 2019 when it was by far the world’s largest crypto economy, according to blockchain data provider Chainalysis’ 2021 Eastern Asia Report published today. Fast facts China’s crypto crackdown in May saw East Asia — with China the biggest […]

Another Chinese state-run media outlet faults NFT frenzy

The Chinese government-aligned newspaper Guangming Daily published an opinion article to criticize non-fungible token (NFT) hype, which is “definitely not good for the healthy development of NFT.” Fast facts The article cited Gartner, a global technology research company, and its report Hype cycle for emerging technology, indicating that NFTs are at a high point of hype. The […]

Crypto platforms Cobo, Gate.io leave mainland following China crypto ban

Cryptocurrency investors on the Chinese mainland continue to feel the chill from the country’s latest crypto ban, as more and more industry players exit the Chinese market. Cobo, a Singapore-based crypto management platform, is among the latest to opt out. Fast facts In order to reflect the regulatory requirements on the mainland, Cobo said Wednesday […]

Public blockchain Nervos launches cross-chain ‘Force Bridge’ on mainnet

Nervos, a public blockchain backed by China Merchants Bank International and Sequoia China, today announced the mainnet launch of its cross-chain “Force Bridge,” according to a company statement shared with Forkast.News. Fast facts The Force Bridge enables cross-chain transactions between Nervos and Ethereum, with support for ETH and whitelisted ERC-20 tokens, including Dai (DAI), Tether […]

Australian Securities Exchange to launch crypto-related ETF

Hot on the heels of a similar exchange-traded fund being approved in the U.S., the Australian Securities Exchange is close to launching the “BetaShares Crypto Innovators ETF,” which will grant exposure to global companies working in the digital asset space, according to the Financial Review. Fast facts Using the ticker “CRYP,” the ETF aims to […]

China’s state-backed blockchain network, U.S. firm team up to enhance CBDC efficiency

China’s Blockchain-based Service Network (BSN) — a public-private nationwide infrastructure project to spur mass adoption of blockchain technology — is partnering with a New York-based blockchain company to advance interoperability as BSN actively expands its global presence to lure more developers to use the blockchain network. Fast facts Cypherium, a smart contract technology provider focusing on central […]

Crypto lender Celsius bags US$400M despite regulatory heat

In spite of ongoing regulatory issues, cryptocurrency lender Celsius Network has raised US$400 million in an investment round pegging the valuation of the company at US$3 billion. Fast facts The funding was led by U.S. growth equity firm WestCap and Caisse de dépôt et placement du Québec (CDPQ), a global investment group.  Celsius will use the funds to […]

TikTok’s first NFT collection auction goes live featuring rapper Curtis Roach

Popular short-video app TikTok has started its non-fungible token (NFT) auction of “TikTok Top Moments” that feature works of a series of rappers and artists, as the social media giant appears keen to jump on the NFT bandwagon. Fast facts The auction of Detroit rapper Curtis Roach’s “Bored in the House” NFT has gone live, […]

Bitmain to supply 10K Antminer rigs to Bit Digital for U.S. expansion

Crypto miners in China may be under siege and driven out of business or forced to flee to friendlier shores. But one corner of the country’s crypto mining industry — the mining machine manufacturers — does not seem to be affected much. Chinese mining rig maker Bitmain, for example, has recently secured a deal with […]

Binance to shut down yuan trading on C2C platform after China’s crypto ban

Binance — the largest cryptocurrency exchange in the world by market value — is set to close down the yuan trading feature on its customer-to-customer platform on Dec. 31, the company said today in a statement, in a move to “meet regulatory requirements of the local government.” Fast facts Binance also said it will conduct […]

South Korean crypto exchange toughens anti-money laundering efforts

Coinone, one of South Korea’s major cryptocurrency exchanges, is creating a new center to strengthen its anti-money laundering capabilities. Fast facts Coinone announced yesterday it has established an anti-money laundering (AML) center and is making Suspicious Transaction Reports (STRs) to financial authorities. Coinone’s AML Center, along with its partner NH Nonghyup Bank, will conduct know-your-customer […]

Hex Trust integrates Hedera Hashgraph into custody platform

Hong Kong-based digital asset custodian Hex Trust has integrated enterprise-grade public blockchain network Hedera Hashgraph into its Hex Safe custody platform, the company announced today. Fast facts With the integration, Hex Trust’s Hex Safe custody platform will support HBAR — the Hedera network’s native cryptocurrency — and tokens issued using the Hedera Token Service (HTS), […]

‘Squid Game’ NFTs being traded on OpenSea

An unidentified NFT (non-fungible token) creator with user name 9194C0 on digital marketplace OpenSea has created nearly 2,000 NFTs that replicate the globally popular Netflix series ‘Squid Game’ with some being traded for more than 1 ETH. Fast facts The NFTs replicate a card that appears on the television series inviting the protagonist to join […]

Ripple to fund solar energy projects in the U.S.

San Francisco-based blockchain payments company Ripple has partnered with Nelnet Renewable Energy, the renewable energy investment business of NYSE-listed Nelnet, on a US$44 million clean energy fund to support solar energy projects in the United States, the company said. Fast facts The solar projects financed by the Ripple Nelnet Renewable Energy Fund are estimated to […]

Blockchain analytics firm Elliptic bags $60M from SoftBank, Wells Fargo, others

Blockchain analytics company Elliptic has raised US$60 million in its Series C funding round led by Evolution Equity Partners and Japanese investment giant SoftBank, the company has announced. Fast facts Elliptic counts a number of marquee investors among its existing backers who participated in the current financing round, including Digital Currency Group, Wells Fargo Strategic […]

McDonald’s China launches first NFT to commemorate 31 years in mainland market

Working with Chinese blockchain Conflux, McDonald’s China has launched its first NFT to commemorate its 31st anniversary in the Chinese mainland market and the official opening of its new headquarters in Shanghai. The NFT, “Big Mac Cube,” is a three-dimensional digital token inspired by McDonald’s branding and the shape of its new headquarters building.  Fast […]

UK gambling watchdog takes shot at soccer NFT platform Sorare

The U.K. Gambling Commission has launched an investigation into Sorare, the French fantasy soccer non-fungible token (NFT) platform. Fast facts The gambling watchdog said that any activity on Sorare by British citizens falls outside of gambling regulations in Great Britain, since Sorare is not registered with the commission. Therefore, the notice advised Sorare users to […]

Postal Savings Bank of China tapped for development role in digital yuan payments

The Postal Savings Bank of China has become one of the appointed research and development institutions for the electronic Chinese yuan (e-CNY), allowing the bank to hold a first-mover advantage in the competition for position in China’s electronic payments market, its owner, the state-owned China Post Group, said in an article. Fast facts The bank […]

Samsung backs blockchain-based gaming, invests in Axie Infinity

South Korean conglomerate Samsung is increasingly involved in the burgeoning world of blockchain-based gaming, while within Korea, games with blockchain elements are banned from official release in the country. Fast facts Samsung Next, the tech giant’s investment subsidiary, participated in a US$152 million Series B round of Sky Mavis, the Vietnam-based blockchain game company and […]

Altcoin Stacks STX price surges 70% as crypto market slumps

While most of the market was down around 5% coming into the Asia trading day this morning, altcoin Stacks was up over 70% in 24 hours on Sunday night, according to data from CoinMarketCap, hitting a high of US$2.45 — the highest point the token had reached since the market-wide crash in May. The price has fallen […]

Sri Lanka to study digital banking, blockchain and crypto mining regulation

Sri Lanka has formed a panel to recommend a regulatory framework covering the growth of digital banking, blockchain and cryptocurrency mining, the government has announced. Fast facts Developing an integrated system of digital banking, blockchain and cryptocurrency mining is crucial for Sri Lanka to keep up with its regional neighbors while expanding international trade, the […]

Shenzhen has the most e-CNY pilot program uses, Chinese state-owned media says

According to a Shenzhen state-owned newspaper, Shenzhen now has nearly 120,000 e-CNY pilot program application scenarios, ranking first in the country. Fast facts In October last year, Hong Kong’s neighboring city, Shenzhen, became the first e-CNY pilot city, which rolled out the first batch of 50,000 e-CNY red packets with a total value of 10 […]

Blockchain technology to aid journalists in South Korea

A South Korean tech company is partnering with the largest organization of professional journalists in the country to develop digital tools and techniques to tackle problems in the journalism industry. Fast facts Media technology developer PUBLISH recently announced signing a memorandum of understanding (MOU) with the Journalists Association of Korea (JAK), which represents over 11,000 […]

Cryptocurrency now on the table for Aussie homebuyers

Australians are now able to buy a house using cryptocurrency, as Lloyds Auctions Australia has announced it is accepting Bitcoin for purchases of real estate in online auctions, according to a press release shared with Forkast.News. Fast facts While Covid lockdowns impacted how in-person real estate auctions could take place in Australia, Lloyds began looking […]

China’s national blockchain network to expand to Turkey, Uzbekistan

China’s Blockchain-based Service Network (BSN) — a public-private nationwide infrastructure project to spur mass adoption of blockchain technology — is setting up more portals overseas, as it moves a step closer to more international exposure. Fast facts Red Date Technology, the company China tapped to manage its BSN, announced today that it is working to […]

China’s Jiangsu province works to wipe out covert crypto mining

China’s eastern province of Jiangsu today announced that it is cracking down on covert cryptocurrency mining activities, in response to the notice jointly issued two weeks ago by the National Development and Reform Commission (NDRC) and several other public security and information technology authorities. Fast facts The Jiangsu Communications Administration said it is strengthening its […]

SEC approves next best thing to a Bitcoin ETF in the U.S.

Editor’s Note On October 8, 2021, a Forkast.News article was published with the inaccurate SEO headline “Bitcoin Futures ETF Approved By SEC.” One of our readers rightfully identified this mistake. We have made the correction, and we apologize. Serving the community is our top priority, and Forkast.News would like to thank @scottmelker for bringing it […]

New Zealand exchange closes $12M funding round

New Zealand-based exchange Easy Crypto has closed a NZ$17 million (US$11.75 million) Series A funding round, in what may be the largest investment raised for a startup from the country. Fast facts Led by venture capital fund Nuance Connected Capital, Easy Crypto told Forkast.News the funding round was oversubscribed by 50%, helped along by participation […]

South Korea calls for legal review on DeFi businesses

As South Korea’s ongoing efforts at regulating cryptocurrency continues, a top financial services official said DeFi (decentralized finance) businesses need legal review before they are officially recognized as providers of financial services such as loan-for-consumption. Fast facts At the National Assembly’s annual review, lawmaker Oh Gi-hyoung, member of the National Policy Committee, asked Jeong Eun-bo, Korea’s Financial […]

Tether lashes out at report that claims it is not 100% backed

Tether is facing another round of scrutiny as the world’s number one stablecoin responds to a damning Bloomberg report published yesterday that claimed — among other things — that Tether is not fully backed as the company claims and is using its reserves to make crypto-backed loans. Fast facts In the article, reporter Zeke Faux […]

Crypto exchange Binance looks to Ireland for regional HQ

Binance — the largest cryptocurrency exchange in the world — is looking at setting up regional headquarters in Ireland, according to Reuters. Fast facts “Historically, we claim that we don’t have headquarters. We are actually just in the process of establishing a few headquarters in different parts of the world,” Binance CEO Changpeng Zhao told […]

Ukrainian president seeks revision of cryptocurrency bill

Ukrainian President Volodymyr Zelenskyy returned a cryptocurrency bill to Parliament for revision on Tuesday, demanding the National Securities and Stock Market Commission of Ukraine be designated the country’s main crypto regulator. Fast facts The crypto bill had passed the second parliamentary hearing on September 8. Had Zelenskyy signed the bill, it would have made the country the fifth […]

Crypto travel rule transactions tested between Abu Dhabi, Singapore

Notabene, a travel rule solution provider, this week announced that it has successfully completed travel rule test transactions between four Abu Dhabi Global Market (ADGM)-licensed firms and three crypto companies in Singapore. Fast facts In July, the Financial Action Task Force (FATF) — the global anti-money laundering (AML) and counter-financing of terrorism (CTF) standards-setter — […]

India gets second crypto unicorn within two months

Indian crypto exchange CoinSwitch Kuber has become the country’s second crypto unicorn after raising US$260 million in a Series C funding round, the startup announced. Fast facts The latest funding round drew in marquee investors — it was led by Coinbase Ventures and Andreessen Horowitz (a16z). Existing investors Sequoia, Paradigm, Ribbit and Tiger Global also participated […]

South Korea will tax crypto but not NFTs

South Korea’s finance minister says that while income from virtual asset transactions will be taxed starting Jan. 1, 2022, NFTs (non-fungible tokens) are not to be taxed yet. Fast facts At the National Assembly’s annual review on Wednesday, Minister of Economy and Finance Hong Nam-ki said the government plans to start taxing virtual asset gains […]

SHIB price surges, biggest gains since May

Outstripping the explosive growth of Dogecoin in the past week, copycat memecoin SHIB was up over 300% over the past four days this morning, briefly reaching a five-month high of US$0.00003436, according to CoinGecko. Fast facts Trading at US$0.00003079 at press time, this marks the second massive jump in the Shiba Inu coin’s price since […]

U.S. crypto enforcement team to target cybercrime

Making the most of cybersecurity awareness month, which marks its 18th year this October, the U.S. Department of Justice has announced it is launching a national cryptocurrency enforcement team targeting cybercrime. Fast facts During a virtual speech at the Aspen Cyber Summit on Wednesday, Deputy Attorney General Lisa Monaco said: “Cryptocurrency exchanges want to be […]

Singapore’s UOB and ADDX exchange partner on US$37 million sustainability-linked digital bond

Singapore’s United Overseas Bank (UOB) and digital securities exchange ADDX today announced the digitization of a S$50 million (US$37 million) sustainability-linked bond using blockchain and smart contract technology. Fast facts The bond allocation was part of a S$675 million (US$496 million) sustainability-linked bond issued on Sept. 29 by Singapore-based energy provider Sembcorp Industries, through its […]

Ripple partners with Qatar’s largest bank to improve cross-border payments

Blockchain payments company Ripple has partnered with Qatar National Bank (QNB) to improve cross-border payments and launch a new remittance platform, Ripple announced on Tuesday. Fast facts QNB will pilot RippleNet, a network of banks and other payment companies developed using Ripple’s technology, with QNB Finansbank in Turkey as part of a group rollout, the […]

Brazil seeks to make Bitcoin a legal ‘payment currency’

Brazil’s legislators are expected to discuss in the next few days a bill that seeks to establish a regulatory framework for cryptocurrencies, which may be a major step toward making Bitcoin a legal “payment currency” in the country if approved by the congress. Fast facts Bill 2.303/15, proposed by Federal Deputy Aureo Ribeiro, aims to […]

Bitcoin mining difficulty rose to the hardest since June

Bitcoin miners saw another mining difficulty adjustment on Tuesday, with an increase of 4.71%, according to data from BTC.com. Fast facts The mining difficulty level is now at 19.89 trillion at block height 703,584, reflecting the most difficult level since a previous adjustment on June 14, the data show. The latest increase follows five increases after four […]

Sky Mavis receives $3B valuation in funding round amid tumultuous period for Axie Infinity

Sky Mavis, the company behind leading non-fungible token game Axie Infinity, has raised US$152 million in a Series B funding round with a valuation of nearly US$3 billion, according to news outlet The Information. Fast facts Led by venture capital firm Andreessen Horowitz, Sky Mavis said it will use the funds to improve its blockchain […]

U.S. Bank launches Bitcoin custody service as more banks enter crypto realm

U.S. Bank, the country’s fifth-largest retail bank, will now offer custody services for cryptocurrencies, starting with Bitcoin, the bank announced on Tuesday. New York Digital Investment Group, a fintech firm dedicated to Bitcoin, is the first crypto sub-custodian in the bank’s network of providers, the statement said. Fast facts The services are geared toward institutional […]

Global bodies propose regulatory standards and greater oversight for stablecoins

The Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) today published a joint report proposing that international standards for payment, clearing and settlement systems should be applied to “systemically important stablecoin arrangements.” Fast facts The BIS, CPMI and IOSCO report comes amid the […]

SEC chair Gensler: No plans to ban crypto, says it’s ‘up to Congress’

The U.S. Securities and Exchange Commission has no plans to ban cryptocurrencies, chair Gary Gensler said during a congressional hearing on Tuesday. He added that any decision to ban crypto is “up to Congress.” Fast facts Gensler responded to Rep. Ted Budd’s question about whether the U.S. plans to ban crypto along the lines of […]

MetaMask Institutional partners with crypto custodians BitGo, Qredo, Cactus Custody

MetaMask Institutional (MMI), the version of the MetaMask decentralized finance (DeFi) wallet for institutions, today announced its partnership with digital assets custodians U.S.-based BitGo, British Virgin Islands-headquartered Qredo, and Hong Kong-based Cactus Custody to facilitate companies seeking access to DeFi. Fast facts The partnership comes amid growing institutional interest in DeFi and aims to address […]

TikTok makes high-profile entry into NFT market with NY Times ad buy

TikTok, an app that is popular for making and sharing short videos, is jumping onto the non-fungible token (NFT) bandwagon. TikTok placed a full-page advertisement in the New York Times to promote its entry into that market. Fast facts The fast-growing social media platform, which has just surpassed 1 billion monthly users worldwide, announced plans […]

Bitcoin funds lead 7th consecutive week of inflows: CoinShares data

Bitcoin investment products saw inflows of US$69 million last week amid improving investor sentiment, according to digital assets fund manager CoinShares. Fast facts “We believe this decisive turnaround in sentiment is due to growing confidence in the asset class amongst investors and more accommodative statements from the U.S. Securities [and] Exchange Commission and the Federal […]

Laos hires Tokyo blockchain startup to explore CBDC

Laos enlisted Soramitsu, a blockchain company headquartered in Tokyo, Japan, to explore a central-bank backed digital currency (CBDC). The Lao Central Bank and Soramitsu’s research will begin as early as this month. Fast facts The Central Bank of Laos reportedly has recently signed a memorandum with the Japan International Cooperation Agency to discuss the development […]

Hong Kong issues technical white paper on e-HKD

The Hong Kong Monetary Authority (HKMA) on Monday released a white paper proposing potential technical architecture and design for the infrastructure of a digital Hong Kong dollar. The paper is one of the deliverables described in Project e-HKD, a feasibility study the HKMA announced in June 2021. Fast facts Hong Kong began its exploration of […]

e-CNY wallet launched in China allows transfer via chat window

Chinese communications giant China Mobile and Industrial and Commercial Bank of China jointly released an e-CNY wallet based on the upgraded SMS service Message over 5G. The wallet allows users to transfer money, check balances, pay bills, and perform other functions through the chat window. Fast facts Message over 5G is an upgraded text message […]

Bug bites DeFi protocol Compound again

Technical woes continue to beset decentralized finance (DeFi) protocol Compound this week as a hack resulted in 202,472 COMP, or US$68 million at the time, being transferred from its reservoir to its Comptroller where the funds remain vulnerable to being drained by subsequent transactions. Fast facts Yearn.Finance developer Banteg tweeted about the hack late Sunday […]

Singapore grants crypto licenses to DBS and Australian exchange Independent Reserve

The Monetary Authority of Singapore (MAS) today granted licenses to DBS Vickers (DBSV), the brokerage arm of DBS Bank, and Independent Reserve, an Australian cryptocurrency exchange, to provide digital payment token services under the Payment Services Act (PS Act). Fast facts Formal approval from MAS, which follows its earlier “in-principal approval” granted to both companies […]

Government-backed NFT art-trading market launched in China’s new duty-free port

The Hainan International Art Exchange Center on Wednesday launched an NFT art-trading platform that supports e-CNY payments, according to China News’ report. According to the staff of the center, the blockchain platform provides services for the purchase and sale of art between art institutions. Institutional traders will be able to tokenize physical artworks as NFTs […]

Tehran bourse CEO steps down after discovery of illegal crypto mining in basement

Ali Sahraee, the CEO of Tehran Stock Exchange, has resigned after Iranian authorities recently busted an illegal crypto mining operation in the basement of the bourse building, according to a report by Iran’s state media. Fast facts The authorities discovered the illegal mining rigs during a sudden inspection. The operation was being run by several […]

dYdX price surges 80% in a week to all-time high

dYdX, the governance token for the dYdX exchange protocol, surged to a new all-time high of US$27.86 today, according to CoinGecko data. Fast facts dYdX is a decentralized exchange (DEX) built on Ethereum that currently supports perpetual contracts, margin trading and spot cryptocurrency trading, as well as lending and borrowing. It is a non-custodial exchange […]

Following crypto ban, digital wallet imToken restricts some access for China users

Decentralized wallet imToken is restricting access to some of the services it offers for users in China, in the wake of the latest ban imposed by top Chinese authorities last Friday. Fast facts The company has restricted users in China from accessing and using third-party financial applications, including those from decentralized crypto exchanges, stake mining […]

Ripple launches $250M fund for NFT creators to build on XRP Ledger

Ripple, a San Francisco-based blockchain payments company currently embroiled in litigation against the U.S. Securities and Exchange Commission, has launched a US$250 million “creator fund” for content creators, brands and marketplaces to build non-fungible token (NFT) use cases on the XRP Ledger, according to a company blog post. Fast facts Ripple’s latest move to expand […]

Cabs in Chinese city Xi’an pilot digital RMB as fare

The Xi’an taxi industry and the Bank of Xi’an launched an e-CNY pilot program to accept e-CNY as fare, becoming the first city in China to accept digital renminbi as a taxi fare, a local newspaper reported. Fast facts Ten cabs selected as pilot vehicles have QR codes posted, and passengers can scan the QR […]

Retail malls, move over. Crypto mining is in for Malaysia’s Hatten Land

Malaysian property developer Hatten Land has signed an agreement, through a subsidiary, with Singapore-based digital asset management company Frontier to share proceeds from jointly operating at least 1,000 cryptocurrency mining rigs within Hatten Land properties in Malaysia, according to a company statement released today. Fast facts Hatten Land has previously announced that it would repurpose […]

Delivered weekly on Thursdays

The Current Forkast

An unmissable weekly round up of the biggest stories in emerging tech from an Asian perspective, featuring commentary from Forkast Editor-in-Chief Angie Lau. Check out recent editions.