TWICE, 2PM K-pop agency JYP plans foray into NFTs
JYP Entertainment, a South Korean entertainment conglomerate that counts K-pop acts including 2PM and TWICE among its stars, has unveiled a plan to partner with blockchain company Dunamu to set up a non-fungible token platform dedicated to K-pop. Fast facts JYP’s partnership with Dunamu, the operator of Korea’s biggest crypto trading platform, Upbit, will involve […]
Cardano expands access to ecosystem with Nexo and Orion partnerships
Input Output Hong Kong, one of the companies behind the Cardano blockchain, is expanding the Cardano ecosystem through partnerships with Nexo, a cryptocurrency lending platform and decentralized finance liquidity aggregator Orion Protocol. Fast facts Input Output Hong Kong is partnering with Nexo to integrate ADA — the native cryptocurrency of the Cardano blockchain — to the […]
South Korean crypto exchanges tighten personal trading rules for employees
Three of the biggest cryptocurrency exchanges in South Korea have tightened restrictions on virtual currency trading by their employees in a move designed to comply with the nation’s crypto regulations. Fast facts Bithumb announced that starting this month, it had banned its employees from trading cryptocurrencies using Bithumb accounts. The exchange has made employees sign […]
Philippine bourse eyes role as crypto exchange
The Philippine Stock Exchange wants to be the country’s platform for trading crypto assets when regulators issue rules to govern the sector, according to a report by CNN Philippines. Fast facts Stock exchange President and CEO Ramon Monzon said the bourse’s management had first discussed the idea of setting up a domestic crypto exchange two […]
Wuhan incubator plan aims to boost blockchain sector
The Bureau of Economics and Information Technology in the Chinese city of Wuhan plans to cultivate more than 100 blockchain companies within three years. Fast facts Authorities in Wuhan issued a document outlining the blueprint, according to which rewards of up to 2 million yuan (about US$309,000) and blockchain technology research program subsidies of 500,000 yuan (US$77,250) […]
Marathon Digital boosts Bitcoin production 17%
Marathon Digital Holdings mined 265.6 Bitcoins last month, a 17% increase over the previous month, according to a company press release. Fast facts That mining increased the company’s holdings to 5,784 bitcoins with an estimated market value of US$206.1 million. The total includes a bulk purchase of 4,182 bitcoins the company bought in January for […]
Crypto ‘Michelin Guide’ to rate tokens in South Korea
The Korea Institute of Virtual Asset Valuation, launched last month, is set to release its first report in July 15, evaluating 10 domestic cryptocurrencies. The new non-profit organization is aiming to provide information to help protect investors from buying crypto coins based on misleading disclosures. Fast facts At the end of every month, 10 domestic […]
Vietnam to launch cryptocurrency pilot
Vietnamese Prime Minister Phạm Minh Chính has asked the country’s central bank to pilot a cryptocurrency program from 2021 to 2023, English-language newspaper Việt Nam News reports. Fast facts The plan was signed off in Prime Minister’s Decision No. 942/QĐ-TTg on the country’s broad development strategy of moving towards digital government. It also encompassed artificial […]
Coinbase seeks ‘hundreds’ of engineers for India tech hub
Despite uncertainty surrounding cryptocurrency regulation in India, Coinbase — the largest cryptocurrency exchange in the United States — is stepping up its expansion plans in the world’s second-most populous country and home to fast-growing projects such as Polygon and Instadapp. Fast facts Coinbase is looking to build out its India tech hub, which was announced […]
Mintable closes $13M series-A, set to integrate Ripple XRP Ledger
Mintable, a Singapore-based non-fungible token platform, this week closed a US$13 million series-A funding round, with U.S. payments technology company Ripple Labs investing. Fast facts Mintable, currently built on the Ethereum and Zilliqa blockchains, enables users to create, buy and sell NFTs using fiat or cryptocurrency. Mintable intends to use the fresh capital to scale […]
Crypto exchange Binance in regulators’ crosshairs as scrutiny mounts
As countries step up their implementation of the Financial Action Task Force’s standards, the list of regulators that have Binance in their crosshairs just keeps growing longer. Fast facts Thailand’s Securities and Exchange Commission today filed a criminal complaint against Binance — the world’s largest cryptocurrency exchange by trading volume — for operating a digital asset […]
Chinese ‘smart city’ to give away 3 million e-CNY to promote exercise
The Chinese city of Xiong’an, a prototype so-called smart city, has launched a new round of digital yuan giveaways. Fast facts Unlike previous giveaways, which have been based on a lottery system, authorities are handing out 3 million yuan in e-CNY based on the number of steps people walk in a bid to encourage fitness. […]
Musk sells memecoin fans another pup with Baby Doge
Elon Musk has once again sent a coin’s price skyward with a simple tweet; this time more than doubling the price of the memecoin Baby Doge by inserting its name into the lyrics of popular children’s song, “Baby Shark”. Fast facts Replacing the title of the song with the name of the coin, the tweet […]
Japan’s SoftBank Invests US$200m in Brazilian crypto exchange
Japanese conglomerate SoftBank’s Latin America fund has plowed US$200 million into Brazilian crypto exchange Mercardo Bitcoin, according to a Reuters report. Fast facts The investment is SoftBank’s largest in Latin America to date, and brings the valuation of Mercardo’s parent company, 2TM Group, to US$2.1 billion, making it the eighth-most valuable fintech firm in the […]
South Korean finance watchdog warns banks over crypto AML compliance
The chief of South Korea’s main finance sector regulator has said that no banks will be exempted from anti-money laundering and counter-financing of terrorism compliance when they sign contracts with virtual asset trading platforms. Fast facts According to South Korea’s crypto exchange regulations, crypto trading platforms must acquire contracts with local banks to provide their […]
Huobi to impose tighter OTC trading restrictions
Crypto exchange Huobi yesterday issued an announcement in simplified Chinese saying that it would implement a “T+1” withdrawal freezing time for all over-the-counter trades, meaning that traders can transfer cryptocurrency out only 24 hours after depositing it. In some cases, the freeze will last up to 36 hours. Fast facts At present, the announcement appears […]
Trading platform Robinhood fined US$70M over outages, false information
Trading platform Robinhood has been fined some US$70 million in a case involving system outages and allegedly misleading information.
Wealth managers need to create digital asset offerings, Capgemini says
Wealth management firms need to develop new offerings around emerging trends such as the rise of digital assets and sustainable investing, according to Capgemini’s World Wealth Report 2021.
Exchange Crypto.com revs up sports sponsorships as Formula 1 partner
Formula 1 has announced that Hong Kong-based Crypto.com will be an inaugural global partner for the new F1 Sprint series in 2021.
Taiwan to introduce new AML rules for crypto exchanges on July 1
Taiwan is set to enact new anti-money laundering rules that take effect July 1 to further boost AML requirements for crypto exchanges.
Mining rig maker Bitmain inks purchase deal with TeraWulf
Bitmain has signed a deal to sell 30,000 of its Antminer machines to TeraWulf, a U.S. crypto miner that claims to use mostly clean energy.
Institutional investors appear to cool on Bitcoin, data suggest
Institutional demand for cryptocurrency appears to be slowing, according to a report by analytics company Glassnode.
South Korean crypto exchange Bithumb dismisses ‘listing fee’ claims
Bithumb — South Korea’s second-largest crypto exchange — has rubbished claims that it is charging token issuers fees to list their coins on its platform.
Crypto exchange Coinbase to launch crypto app store in international strategy
Nasdaq-listed Coinbase, the largest cryptocurrency exchange in the United States, announced today its plans to expand its business internationally as it seeks to improve its asset-listing process and build a crypto app store. Fast facts: “We’re seeing crypto quickly mature from its initial use case of trading bitcoin to the trading of thousands of new […]
Hong Kong’s Cyberport invests in digital asset custodian Hex Trust
Hex Trust, a Hong Kong-based digital asset custodian, today announced that it has secured investment from Cyberport, a technology incubator project backed by the Hong Kong government.
NFL star Tom Brady, supermodel Gisele Bündchen take stakes in FTX crypto exchange
Cryptocurrency exchange FTX today announced that American football star Tom Brady and his wife, Gisele Bündchen, are taking equity stakes in it, in a multi-year partnership.
Gold loses shine for India’s crypto-curious young investors
Crypto investment in India has grown from about US$200 million to nearly US$40 billion in the past year, driven in large measure by demand among young investors.
Singapore crypto exchange Coinhako sees trade soar 500%, eyes IPO
Singapore cryptocurrency exchange Coinhako today announced a 500% increase in trading volume during the first five months of 2021 compared to the whole of 2020.
Executives at crypto exchange V Global arrested in US$1.9B fraud case
Four executive employees of South Korean crypto exchange V Global have been arrested on charges of alleged fraud involving more than US$1.9 billion.
China’s Agricultural Bank launches fintech center in ‘smart city’ of Xiong’an
Agricultural Bank of China has set up a fintech innovation center in Xiong’an, a model for a so-called smart city.
Huobi bans users in China, Taiwan from crypto derivatives trades
Chinese cryptocurrency exchange Huobi has stopped providing crypto derivative trading services to users in China and Taiwan.
Ethereum’s institutional outflows hit record US$50M, CoinShares data says
Ethereum is bearing the brunt of negative sentiment on crypto, with net outflows from institutional products related to the token hitting a record of US$50 million last week.
Samsung Asset Management launches metaverse fund
Samsung Asset Management, South Korea’s biggest asset manager, has launched a fund tied to a virtual world known as the metaverse.
Mexican finance minister reiterates crypto ban after bank unveils Bitcoin plan
Mexico’s finance minister reiterated his country’s ban on cryptocurrencies on Monday, saying they are not legal tender and are not to be treated as currencies within the country
Bitcoin hashrate falls to lowest in 22 months amid China mining clampdown
Bitcoin’s hashrate fell to 58.7971 exa hashes per second on Sunday — the lowest point since August 2019.
Singapore central bank joins IMF, World Bank to push state digital currencies
The Monetary Authority of Singapore is inviting proposals for retail central bank digital currency innovations to improve payment services.
Hong Kong to press ahead with digital dollar, e-CNY plans
Hong Kong’s financial secretary has reiterated the city’s determination to develop digital versions of the Hong Kong dollar and the mainland Chinese yuan.
Lawmaker clarifies Paraguay won’t try to make Bitcoin legal tender
Lawmaker Carlos Rejala tamped down speculation that Paraguay might follow El Savador’s footsteps in making Bitcoin legal tender.
Shiba Inu price jumps 25% after Elon Musk throws new Twitter bone on dog
Elon Musk set off a new SHIB price rally after tweeting that he would name his Shiba Inu—the dog breed that the joke meme coin is named after—’Floki.’
Crypto exchange Gemini buys carbon offsets, pledges carbon-neutrality
Crypto exchange Gemini has bought US$4 million in carbon credits to offset the environmental impact of its Bitcoin holdings
Australian blockchain project targets construction sector traceability
Accountancy giant KPMG is partnering with Australian property group Mirvac to create a blockchain platform to track the provenance of buildings.
Palestine looks to launch central bank digital currency
Following Israel’s recent tests of a digital shekel, the Palestinian Monetary Authority is looking to launch its own central bank digital currency.
Mining rig maker Bitmain halts sales amid flood of second-hand machines
Chinese crypto mining rig maker Bitmain has decided to suspend global spot sales of its Antminer machines, as some of its clients are reselling their rigs.
Blockchain data cruncher Chainalysis raises $100M to expand in Asia Pacific
Chainalysis, the blockchain and cryptocurrency data analytics firm, announced today that it has raised US$100 million in a Series E funding round with a US$4.2 billion valuation. Fast facts: Headquartered in New York, Chainalysis provides blockchain-based software that enables governments and businesses to detect and prevent cryptocurrency crime and money laundering. Chainalysis’ series E round […]
Tesla, Facebook and Netflix stock tokens launch on Solana blockchain
Swiss-based Digital Assets AG, a firm focused on the design of tokenized stock infrastructure, has launched over 50 tokenized stocks on the Solana public blockchain.
Suspects arrested in US$500M ransomware crypto laundering case
Law enforcement agencies in several countries have arrested suspected members of a crypto-linked cybercrime group believed to be responsible for laundering more than US$500 million from ransomware attacks.
Paraguay university to accept crypto for tuition fees
A university in Paraguay has announced that it will begin accepting cryptocurrency as payment for tuition starting from August.
Bitcoin ETFs start trading on Brazil, Dubai stock exchanges
QR Capital’s Bitcoin exchange-traded fund — the first Bitcoin ETF in Latin America — has been listed on Brazil’s stock exchange.
Israeli central bank tests digital shekel using Ethereum
The Bank of Israel is testing its central bank digital currency, the digital Shekel, in a private permissioned ecosystem using Ethereum.
Following forced closure, Hong Kong’s Apple Daily preserved on blockchain
A tech-savvy activist is using blockchain technology to preserve content from Hong Kong’s Apple Daily, which was yesterday forced by the government to shut down.
China’s Ant Group launches blockchain-boosting transmission network
Ant Chain, Ant Group’s technology brand, has launched a new blockchain communication technology at Ant Chain’s first developer conference.
South Korea points to crypto regulation efforts after calls for watchdog to quit
South Korea’s presidential office has reacted defensively to a petition calling for the chief of the country’s main finance sector regulator to step down over comments he made about cryptocurrencies.
Survey: 32% of novice traders only invested in crypto in past year
Nearly one in three novice traders reported making no traditional investments outside crypto over the past year, according to a survey published today by Overbit, a Singapore-based cryptocurrency exchange. In contrast, 85.3% of professional traders reported diversifying their investment portfolios to stock, real estate or other traditional assets. Fast facts: The survey of 3,000 traders […]
Australian auction house begins accepting crypto for all items
Auction house Lloyds Auctions Australia has begun accepting cryptocurrency for all purchases on its marketplace.
Rig maker Bitmain offers help to Chinese miners looking to relocate abroad
Chinese mining rig maker Bitmain is offering assistance to clients that want to relocate their cryptocurrency mining operations from China to other countries.
Binance NFT marketplace launches with auction of Dali, Warhol
Crypto exchange Binance is launching a non-fungible token marketplace, auctioning NFTs of artworks by Andy Warhol and Salvador Dali.
Court grants Ripple access to SEC’s internal trading policies on XRP
A judge has granted Ripple’s request to force the U.S. Securities and Exchange Commission to reveal its non-public policies regarding whether agency employees may buy and sell XRP and other cryptocurrencies, according to a screenshot of a new legal filing shared by the lawyer representing XRP holders. Fast facts: Earlier this month, Ripple sought the […]
John McAfee dead by suicide in Spanish jail before extradition to US
John McAfee has died by suicide in a prison cell in Barcelona after a Spanish court authorized his extradition to the US where he faced tax evasion charges.
Chinese crypto mining rig maker Bitmain suspends sales as prices drop
Chinese mining rig maker Bitmain has stopped selling in-stock cryptocurrency mining equipment amid a plunge in the prices following a shutdown of major mining pools in China.
Bitcoin mining rig maker Canaan breaks ground in Kazakhstan
Canaan, one of the world’s biggest crypto mining rig makers, has launched its own crypto mining business in Kazakhstan.
South Korean crypto exchange Upbit in dock in trading tech case
South Korean crypto exchange Upbit — the country’s biggest — is facing a lawsuit filed by a university foundation alleging patent infringement.
Taiwan developing Covid-19 blockchain platform to track jab history
A team of doctors and engineers in Taiwan is developing a blockchain-based platform that could keep track of residents’ vaccination histories and health conditions.
U.S. SEC settles with Loci over unregistered securities offering
The U.S. SEC has settled charges against Loci and its CEO, John Wise, for allegedly making false statements in connection with a sale of digital asset securities.
Indian crypto investors could be stung by 2% foreign operator levy
Indian cryptocurrency investors could face a 2% levy on transactions made through foreign-owned crypto exchanges operating in the country.
Iran seizes record haul of 7,000 crypto mining machines
Iranian police have confiscated 7,000 cryptocurrency mining machines from an abandoned factory in western Tehran, the largest batch discovered in recent days.
Chinese payment giant Alipay starts selling NFTs
Chinese payment app Alipay has started selling non-fungible token artwork, finding buyers for a combined 8,000 editions of two artworks within one day.
U.S. Treasury nominees pledge beefed-up crypto AML enforcement
Two nominees to the U.S. Treasury Department have promised, if they are confirmed in their posts, to implement new regulations relating to cryptocurrency.
Report: US cryptocurrency crimes surging by 300% a year
Crypto-related crime in the US increased an average of over 300% per year from 2017 to 2020with a total of 82,135 cases last year alone.
Polkadot DeFi hub Acala’s Karura network wins first Kusama auction
Decentralized finance hub Acala Network’s sister network, Karura, has won the first parachain lease auction on Kusama, Polkadot’s pre-production network, and is now successfully producing blocks, according to an announcement today. Fast facts: The successful completion of Kusama’s first parachain slot auction and Karura’s launch brings Polkdot ever closer to its rollout. Karura raised more […]
South Korean crypto exchange Upbit to sue Pica Project after delisting coin
South Korean cryptocurrency exchange Upbit is preparing legal action against crypto coin issuer Pica Project, whose tokens it has delisted from its platform.
French central bank, SEBA Bank wrap CBDC securities settlement test
France’s central bank has successfully completed a central bank digital currency experiment involving the settlement of listed securities with Switzerland’s SEBA Bank.
Bearish crypto sentiment focused on Bitcoin, CoinShares says
Bitcoin is in its sixth consecutive week of institutional outflows, with US$89 million exiting the coin, according to a weekly fund flows report.