Meta’s Mark Zuckerberg is still optimistic about the metaverse
Meta’s Mark Zuckerberg said that he remains optimistic about the future of the metaverse over a “five-to-ten-year horizon” despite widespread skepticism of his company’s venture into the technology.
Telegram plans decentralized crypto exchange, wallets following FTX collapse
Telegram plans to build non-custodial wallets and decentralized exchanges for cryptocurrencies following the collapse of the FTX exchange says CEO Pavel Durov.
It’s time for more institutions to adopt blockchain and crypto: Opinion
Despite the myriad benefits of blockchain and cryptocurrency, institutional interest remains mixed in Asia Pacific. What lessons should the industry learn from 2022 to overcome the barriers to adoption?
Philippine Blockchain Week: Blockchain adoption struggles in the Philippines as businesses ‘invest to survive’
Blockchain adoption in the Philippines is struggling because businesses are focused on survival, according to Dr. Donald Lim, lead convenor at Philippine Blockchain Week in Manila.
Grayscale holdings questioned amid crypto investment giant’s silence
Top blockchain and crypto news: Grayscale’s cryptic reserves. Binance rides to the rescue? China hit by protests and digital dissent.
Markets: Bitcoin rises, Ether leads gains across most top 10 non-stablecoin cryptos
Bitcoin and Ether strengthened in Asian trading on Wednesday afternoon, with Ether the biggest gainer among top 10 non-stablecoin cryptocurrencies that also generally increased. See related article: Diverging paths of two CEOs running FTX’s Alameda Research may meet again in court Fast facts See related article: Dominica releases ‘world’s first national’ crypto token with Huobi, […]
Diverging paths of two CEOs running FTX’s Alameda Research may meet again in court
Employee accounts of life at Sam Bankman-Fried’s flagship cryptocurrency trading arm Alameda Research paint a picture of overworked and inexperienced millennials running a ship headed for the rocks: one seemingly escaped.
S. Korea’s Wemade files injunction against country’s top 4 crypto exchanges
The blockchain game maker fights delisting of its symbolic WEMIX crypto token.
Kraken pays over US$360K to US Treasury to settle Iran sanctions allegations
U.S.-based cryptocurrency exchange Kraken has agreed to pay over US$362,000 to settle claims that it violated sanctions against Iran, the Treasury said Monday.
Will the future metaverse amplify the good or the evils of the real world?
The metaverse has the potential to improve access to opportunities and create a better version of the offline world. How do we prevent it from perpetuating society’s ills?
U.S. cryptocurrency lender BlockFi files for Chapter 11 bankruptcy, will lay off about 200 staff
Crypto lender BlockFi Inc. and eight of its affiliates have filed for Chapter 11 bankruptcy reorganization in the U.S.
Blockchain is transforming capital markets, and Singapore is leading the way: Opinion
Asset tokenization and DeFi hold tremendous potential for the finance sector, writes Han Kwee Juan of DBS Bank. Here’s how the Singaporean government is at the forefront of change.
U.S., S. Korea applied for over 75% of world’s metaverse patents: report
Companies based in the U.S. and South Korea have filed for more than 75% of patent applications related to the metaverse, VR and AR.
Nigeria seeks distinction between digital assets and crypto
Nigeria seeks to advance digital asset trading in the country but is drawing a distinction between digital assets and cryptocurrencies.
Australian fintech firm launches new AUD stablecoin, AUDE
Australian blockchain fintech startup Ettle Pty Ltd. has completed the first transaction on its recently launched Australian dollar-pegged stablecoin, AUDE.
S.Korean Wemade’s stock falls 30% after exchanges announce WEMIX token delisting; CEO blames Upbit exchange
The delisting poses a great obstacle to the game maker’s growing blockchain empire, while Wemade’s CEO blames the crypto exchange
Question: How do financial rules work when rogue individuals run companies? Answer: Not very well.
Calls for tougher rules on cryptocurrency have been echoing ever louder through the offices of global financial regulators since the collapse of the FTX exchange. But the firm did not invent dodgy business practices, so what can regulators and the industry do?
The crash and burn of FTX: What lessons does it teach us?
As FTX victims and creditors sift through the pieces, how much of this blowup should regulators have seen coming — and could it happen again?
Genesis jitters keep investors on edge as contagion risks grow
Top blockchain and crypto news: Fear stalks crypto as Genesis wobbles. FTX cleanup begins. China’s NFT scene shrinks.
Singapore’s DBS bank completes intraday repurchase transaction on JPMorgan’s blockchain-based platform
Singapore-based DBS bank, the largest lender in Southeast Asia, has said it is the first bank in Asia to complete an intraday repurchase transaction on a blockchain-based network.
S.Korea’s Ifland metaverse launches globally in 49 countries
South Korea’s telecommunications giant SK Telecom (SKT) is launching its Ifland metaverse in 49 countries in North America, Europe, the Middle East and Asia.
SBF’s parents, FTX executives bought Bahamas property worth US$121 million: Reuters
The parents of Sam Bankman-Fried, along with senior executives of the now-bankrupt FTX, bought at least 19 properties worth nearly US$121 million in the Bahamas over the past two years.
China’s foreign exchange bureau urges stronger legislation to regulate crypto trade
China should integrate legislation on cryptocurrencies in order to better regulate crypto tradings, said Huang Hui, a deputy director of the Supervision and Inspection Department of State Administration of Foreign Exchange.
FTX failed because of humans, not crypto
Human greed and deception led to FTX’s fall. That’s why the antidote is not more regulations but could be found in blockchain’s original promises, writes Marieke Flament, CEO of NEAR Foundation.
Beyond crypto: Why would companies want cryptocurrency-free blockchains?
Cryptocurrencies are getting in the way of the mass adoption of blockchain technology, especially by tech businesses, says Red Date Technology chief Yifan He.
Blockchain isn’t broken
Despite the crypto meltdown, there’s plenty to be optimistic about.
HK crypto over-the-counter service Genesis Block to end trading: Reuters
Genesis Block, a cryptocurrency over-the-counter trading service in Hong Kong, will close its trading portal on Dec. 10, Reuters reported on Friday citing an email the company sent to customers.
Australia to revamp cryptocurrency rules after FTX collapse
The country is one of the first to say it will act to set up regulations to prevent a collapse similar to FTX, which filed for bankruptcy protection and froze the assets of hundreds of thousands of investors.
China’s state blockchain infrastructure Xinghuo BIF partners Malaysian MyEG to fuel global push
China’s state blockchain infrastructure Xinghuo Blockchain Infrastructure and Facility has signed an agreement with Malaysian digital service provider MY E.G. Services Berhad to own and operate an “international supernode,” as China continues its international blockchain push.
Markets: Bitcoin, Ether fall along with top 10 cryptos, led by Polygon’s Matic
Bitcoin fell during Wednesday afternoon trading in Asia along with all other top 10 cryptocurrencies, excluding stablecoins, led by declines in Polygon’s Matic.
How Hong Kong and Singapore can make Asia the center of crypto’s future
Yes, there is rivalry between the two global finance hubs. But their strengths are also complementary for Asia to become an even bigger crypto powerhouse, writes Lily Z. King.
Markets: Bitcoin, Ether fall as FTX implosion, job cuts in tech industry cloud outlook
Bitcoin and Ether prices fell in Thursday morning trading in Asia along with all other top 10 tokens by market capitalization, excluding stablecoins.
FTX collapse leaves investors jittery over crypto contagion
Top blockchain and crypto news: FTX fallout spooks sector. Crypto.com’s $400 million ‘accident.’ Hong Kong’s new digital asset drive.
Mastodon is the hot new alternative to Twitter: Can it decentralize social media?
Can decentralized platform Mastodon, named after an extinct elephant, replace the little blue bird that has dominated the world’s social media landscape for over a decade?
Terra cofounder Daniel Shin’s Chai Corp. raided by S.Korean authorities
Daniel Shin’s Chai Corporation, which partnered with Terraform Labs in 2019, is accused of violating capital market rules in past dealings with Terra.
DeFi’s real estate revolution: The rise of tokenization
The tokenization of property in DeFi differs greatly from the securitization that led to the global financial crisis. In this introductory part of a special series of three articles, Forkast looks at the origins of the phenomenon, what’s new about it, and the promise it holds for investors.
FTX bankruptcy and fallout; Tuesday updates and commentary
The following is a running compilation of views and comments on the FTX bankruptcy and implications for the industry.
Crypto.com claims user funds safe despite ‘accidental’ Ether transaction
The chief executive of Crypto.com, said the exchange’s exposure to FTX when it shut was under US$10 million.
Hong Kong said it remains upbeat on digital assets after FTX debacle
Hong Kong remains bullish on virtual assets in the financial sector after the FTX debacle, while maintaining the view that regulation of businesses is a prerequisite for market development.
Former Huobi CEO Leon Li offers US$14 mln loan to cover funds locked in FTX
Huobi Global’s ex-CEO Leon Li has extended a US$14 million loan to New Huo Technology after a subsidiary had US$18 million of cryptocurrency locked in the bankrupt FTX exchange.
S.Korea summons ex-Terra exec Daniel Shin over US$100M in LUNA gains
Daniel Shin has been summoned by South Korean prosecutors to attend an investigation as a suspect for allegedly earning ill-gotten profits with LUNA.
AAX crypto exchange says it is suspending withdrawals amid FTX fallout
Hong Kong-based crypto exchange AAX is suspending withdrawals for seven to 10 days for a scheduled system upgrade to protect users.
Binance chief says FTX bailout deal ‘didn’t make sense’
Changpeng Zhao, founder of the world’s largest crypto exchange, said its earlier pledge to acquire FTX fell through partially due to regulatory concerns.
FTX allegedly used customer assets in Alameda bailout: report
A portion of the bailout package worth at least US$4 billion that FTX’s Sam Bankman-Fried sent to Alameda Research was allegedly comprised of customer funds.
Why fears of a dying NFT market are overblown
The NFT ecosystem is doing better than what selective data would have us believe, writes Long Do of Anomura. But the sector should know that people want more than just a pretty picture.
Binance set to swallow FTX as run on exchange allows CZ to swoop
Top blockchain and crypto news: FTX concedes defeat in long battle with Binance. Crypto eyes Congress races. Hong Kong U-turns on digital assets.
Binance buys FTX: Updates on what it means for the crypto industry
The following is a running compilation of views and comments on Binance’s takeover of the FTX exchange amid speculation of solvency problems at FTX.
Japan’s NTT Docomo to develop Web 3.0 with Accenture, Astar Network
NTT Docomo, Japan’s largest mobile phone operator, has partnered information technology firm Accenture and blockchain infrastructure Astar Network to explore Web 3.0 adoption.
U.S. midterms: gridlock… and progress on crypto industry regulation?
In a period of toxic divide between the Democrats and Republicans, the need to figure out how to regulate the growing cryptocurrency industry is one of the few issues both parties seem to agree on.
Zuckerberg’s Meta plans to lay off thousands of employees: WSJ report
Meta Platforms Inc. is planning its first significant mass layoff later this week that may affect many thousands of employees.
Stablecoin, CBDC issues take center stage at Singapore’s Future of Finance Forum
Central bank digital currencies draw fire over inflation, privacy and threat to innovation, as questions raised over status of stablecoins in digital asset ecosystem.
Digital Transformation Boost
How can collaboration help advance digital age and blockchain technologies?
Markets: Bitcoin, Ether fall; Dogecoin interest fades
Bitcoin and Ether dropped in afternoon trading in Asia along with almost every other top 10 cryptocurrency by market capitalization, excluding stablecoins. MATIC was the only coin to gain.
How sustainable is that fast-fashion minidress? Blockchain can help you find out
Fashion’s ‘greenwashing’ scandals could be a thing of the past if blockchain is used to hold companies accountable, writes Lars Rensing of Protokol.
Hong Kong needs engineering talent to reclaim role as digital asset hub
Hong Kong’s latest FinTech policies indicate it wants to reclaim its position as a hub for cryptocurrencies and digital assets, but that means finding the right people for the job.
LG Electronics seeks Web3 talent for blockchain, NFT efforts
LG Electronics is recruiting chief technical officers (CTOs) to lead the company’s growing Web3 business.
Blockchain without cryptocurrencies: How might China’s BSN change Web3?
By excising cryptocurrencies from the ecosystem, crypto-hostile China could steal a march in enterprise blockchain, says Red Date Technology chief Yifan He.
Chainlink, green asset exchange MVGX to explore crypto carbon trading
Singapore blockchain-based carbon credits exchange Metaverse Green Exchange (MVGX) will partner crypto data provider Chainlink to explore tokenized carbon trading.
India forms new crypto advocacy body with Coinbase, Polygon
Cryptocurrency exchanges and Web 3.0 companies, including Coinbase and Polygon, have formed the Bharat Web3 Association in India to strengthen regulation and consumer protection for the industry.
Dashcam maker Hivemapper issues crypto HONEY for road image contribution
San Francisco-based dashcam maker and decentralized mapping service provider Hivemapper issued cryptocurrency tokens HONEY to reward dashcam users for contributing driving data and road imagery on Friday Hong Kong time, according to a press release shared with Forkast.
Curiosity ‘always’ fuels innovation, says blockchain co-creator Stuart Haber
U.S. computer scientist Stuart Haber, recognized with Scott Stornetta as the co-inventor of blockchain, says he is excited to see the evolution of the technology, not only in the financial sector, but also in entertainment, business, and technology industries.
‘End of the beginning’ in blockchain development, Singapore FinTech Festival speakers declare
Bursting of speculative bubble described as a turning point in the evolution of digital assets as industry players and observers welcome promise of mainstream adoption and better governance.
Singapore’s Project Ubin+ to study cross-border FX with CBDCs
The MAS launched Project Ubin+ on Thursday, a collaborative initiative with international partners to explore cross-border foreign exchange settlements using wholesale CBDC.
How soulbound tokens can lift billions of lives around the world
What are soulbound tokens, and how can they end the ‘credit paradox’ that has been holding back the unbanked masses? Fakhul Miah of CreDA explains.
Singapore fintech fest raises profile of industry that wants to ‘disappear’
Digital asset and blockchain highlights of event draw huge crowds, even as industry figures say they want the technology behind them to become just a normal component of the finance system.
India’s finance minister urges G20 nations to come on board to regulate crypto
Indian Finance Minister Nirmala Sitharaman has urged all Group of 20 (G20) nations, as well as international bodies like the International Monetary Fund and Financial Stability Board, to come together to help regulate crypto assets. See related article: India’s finance minister sees 46% growth in blockchain technology use in next few years Fast facts Sitharaman […]
Hong Kong crypto policy turns on hopes of economic revival
Top blockchain and crypto news: Hong Kong rethinks digital assets. CBDC to debut in India. China’s e-yuan privacy problem.
Payments platform StraitsX to show real-world stablecoin use at Singapore Fintech Festival
Singapore-based StraitsX, a payments infrastructure for digital assets, will pilot stablecoin applications at the ongoing Singapore Fintech Festival.
Singapore lender DBS explains its DeFi experiments, plans
DBS, the largest bank in Southeast Asia, said it tested trading of foreign exchange and government bonds using permissioned decentralized finance (DeFi) liquidity pools on a public blockchain as part of the city-state’s Project Guardian exploration of blockchain in finance.
DBS bank says it tested blockchain DeFi protocols for forex, bond transactions
The bank is in the center of developments shepherded by the Monetary Authority of Singapore to explore digital financial technologies emerging around blockchain.
Asia’s largest metaverse Zepeto targets sex abuse, exploitation
Naver Z Corp. announced its partnership with INHOPE to protect youth from sexual abuse and exploitation on the virtual platform.
USDC stablecoin issuer Circle wins Singapore digital payment license
The issuer of the world’s second-largest stablecoin is joining a fleet of companies in the digital asset industry moving into Singapore. What’s the attraction?