Contributor
Timmy Shen is a Taipei-based journalist at Forkast. Previously, he wrote for Caixin Global and TechNode, covering topics ranging from fintech to fan economy. He also cares about LGBT+ issues and is a shabu shabu fanatic. Timmy holds an MS degree from Columbia Journalism School.
Regulation
Binance.US, a cryptocurrency exchange set up by Binance chief Changpeng Zhao to serve U.S. clients, has pulled out of a US$1.3 billion deal to buy bankrupt crypto lender Voyager Digital, the company said Tuesday, citing a lack of clear regulations in the country for the crypto industry.
Timmy Shen
Altcoins
Ethereum-linked digital asset investment products saw inflows of around US$17 million in the week ending April 21, up from US$300,000 in the previous week, appearing to show investor confidence following the blockchain’s milestone upgrade, Coinshares report shows.
Timmy Shen
Bitcoin News
Bitcoin’s mining difficulty level rose 1.72% on Thursday to a record high, while the network’s hashrate increased, showing miners are applying more computing power.
Timmy Shen
Bitcoin News
Shares of Singapore-based cryptocurrency miner Bitdeer have slid more than 35% since their Nasdaq debut on April 14, and were trading at US$6.41 at closing on Wednesday.
Timmy Shen
Altcoins
CoinShares data showed Ethereum-linked products saw little investment interest with inflows of around US$300,000 in the week ending April 14, accounting for a tiny portion of the total US$114 million weekly inflow into digital assets and despite the blockchain’s milestone upgrade last week.
Timmy Shen
Regulation
The U.S. House Financial Services Committee is set to hold a hearing on April 19 to discuss a draft bill released over the weekend on regulating stablecoins, a class of digital currency designed to offer price stability by being pegged to another asset’s value.
Timmy Shen
Regulation
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.
Timmy Shen
Regulation
Binance CEO Changpeng Zhao said regulators need to come up with clear crypto regulations and should understand that the crypto industry is different from the traditional financial industry.
Timmy Shen
Altcoins
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.
Timmy Shen
Regulation
China has fined Bitmain, one of the world’s biggest producers of cryptocurrency mining rigs, nearly US$3.6 million for alleged tax violations, according to the Beijing tax authorities.
Timmy Shen
