Contributor
Dylan Butts is a Forkast journalist based in Hong Kong. He has previously wrote for publications such as NBC and the South China Morning Post, covering a wide range of topics including business and technology. Dylan holds a bachelor's degree in economics from St. Lawrence University and a master's in journalism from the University of Hong Kong.
Regulation
The Securities and Exchange Commission of Brazil (CVM) has banned Singapore-based cryptocurrency exchange Bybit from brokering “securities” within the country. See related article: Thailand mandates warnings on crypto ads Fast facts The CVM released a declaratory act, in an announcement on Monday, that ordered the suspension of Bybit’s security offerings and intermediation services directly or […]
Dylan Butts
Regulation
The Australian Federal Police (AFP) have set up a crypto crime unit that will trace and seize illicit cryptocurrency linked to money laundering and other criminal activity, the Australian Financial Review (AFR) reported Monday. See related article: Ukraine National Police takes down crypto fraud cybercrime group Fast facts Launched in August, the unit will help […]
Dylan Butts
Regulation
Singapore’s largest bank, DBS, aims to expand its cryptocurrency and digital assets offerings to 300,000 new clients in the face of the crypto bear market, according to a Financial Times report on Tuesday. See related article: Why DBS’ move into the digital asset space is more than a token gesture Fast facts In an interview, […]
Dylan Butts
Regulation
U.S. Congressman Brad Sherman, who chairs a House subcommittee on investor protection and a leading crypto skeptic in Washington, is seeking more stringent cryptocurrency regulation, if not all-out bans, according to a report by the LA Times. See related article: CFTC, SEC seek input on hedge fund crypto reporting rules Fast facts In an interview […]
Dylan Butts
Altcoins
Polygon was selected as one of the 2022 participants for Disney’s accelerator program on Wednesday, triggering the project’s cryptocurrency MATIC to rise by more than 15%. See related article: Aespa, NCT’s SM Entertainment builds metaverse studio Kwangya Fast facts The Walt Disney Company did not announce any of its own crypto projects, but the 2022 […]
Dylan Butts
Market Trends
Animoca Brands has raised US$75 million in a new round of fundraising in a move toward an “open metaverse,” defying plummeting markets and a drop in non-fungible token (NFT) sales during the crypto winter season, the Hong Kong-based blockchain game specialist announced on Tuesday. See related article: Animoca says crypto winter ‘a great time’ for […]
Dylan Butts
NFT Marketplaces
GameStop has launched its non-fungible token (NFT) marketplace, allowing artists, gamers, content creators and community members to buy, sell and trade NFTs, the video game retailer announced on Tuesday. See related article: eBay acquires NFT marketplace KnownOrigin Fast facts The marketplace can be accessed through Web3 wallets such as the GameStop Wallet unveiled in May. […]
Dylan Butts
Regulation
The U.S. Office of Government Ethics (OGE) said federal employees of the executive branch owning cryptocurrencies or mutual funds investing in the sector need to recuse themselves from any matter related to the industry. See related article: CFTC Commissioner Pham suggests regulators stay tech-neutral on stablecoins Fast facts The July 5 memo clarified that the […]
Dylan Butts
Bitcoin News
In a letter to the U.S. Commerce Department, the National Association of Federally-Insured Credit Unions (NAFCU) warned that the cost of developing a central bank digital currency (CBDC) outweighs the “hypothesized benefits.” See related article: Hong Kong to research retail CBDC cybersecurity with Israel, BIS Fast facts The organization’s July 5 letter was in line […]
Dylan Butts
Regulation
Genesis Chief Executive Officer Michael Moro confirmed on Wednesday the cryptocurrency brokerage was exposed to the now-bankrupt hedge fund Three Arrows Capital (3AC). See related article: Three Arrows Capital files for Chapter 15 bankruptcy Fast facts Genesis sold collateral and hedged downside once 3AC was unable to meet margin call requirements on a loan, Moro […]
Dylan Butts
