Search results: dollar

Do Kwon’s proposal to create a new Terra network chain is set to go live this weekend — what does Terra 2.0 entail and will it successfully win back its following?

U.S. Federal Reserve Vice Chair Lael Brainard said a central bank digital currency (CBDC) could coexist and complement stablecoins in her Thursday testimony to a House Financial Services Committee virtual hearing. See related article: CBDC tracker shows U.S. falling further behind Fast facts CBDCs are digital currencies released and backed by central banks, while stablecoins […]

Governments around the world are racing to develop their own digital currencies, but an e-HKD may not make sense for Hong Kong’s people. John Mitchell of Episode Six explains why Hong Kong is unique.

Top blockchain and crypto news: Billions cut ties with Tether. Are Terra’s UST troubles just beginning? China’s miners stay one step ahead.

The crypto community is still dealing with the fallout from the multibillion-dollar collapse of Terra-LUNA. At a Davos event organized by Forkast, we asked what caused the crash and if it was foreseeable.

If buying a home is the American Dream and key to building wealth, what is that like in the metaverse? Crypto newcomer Joel Stein finds out.

Reserve Bank of India (RBI) governor Shaktikanta Das said in a local media interview that the central bank has rightly been cautioning against cryptocurrencies, following the collapse of Terra’s UST and LUNA.  See related article: RBI calls for crypto ban in India, again Fast facts Das told CNBC TV18 on Monday that if crypto had […]

Terra’s LUNA and UST implosion is dragging down an already ailing market. What do other developments suggest about crypto’s long-term future?

Russia’s invasion of Ukraine has shown that cryptocurrency regulations need to expand beyond the jurisdiction of a single government and blockchain technology can help with that, said panelists at ‘Crypto Rising,’ a series of virtual monthly events organized by Forkast.

Tether, the operator of the world’s largest stablecoin USDT, has seen US$10 billion of its market capitalization shaved off since TerraUSD’s (UST) collapse.  See related article: Nearly half of Tether reserves are now in US Treasury bills Fast facts USDT’s market capitalization was at US$73.35 billion at the time of publishing, following an all-time high […]

Blockchain was once associated overwhelmingly with cryptocurrencies — and specifically its poster children, Bitcoin and Ethereum. The latter, in particular, has thrust the industry forwards into the realm of smart contracts integration.  Ethereum started to bear fruit arguably most prominently last year amid a boom in non-fungible tokens (NFTs), while decentralized finance (DeFi) offered a […]

In an exclusive interview with Forkast, the lawyer representing the claimant discusses what the result means for NFTs and digital ownership.

The man at the center of one of crypto’s biggest flops is trying to resurrect the Terra-LUNA project as his tribe of followers and out-of-pocket investors want to know what went wrong.

Jeremy Allaire, CEO of Circle, which issues the second-largest stablecoin USDC, claims to have foreseen Terra and algorithmic stablecoin UST’s collapse six months ago because it was “a house of cards.” See related article: Terra shuts down indefinitely after coming back online; LUNA, UST still on life support Fast facts “There were two things that […]

Top blockchain and crypto news: Terra puts down the fork. Bitcoin loses its shine in Singapore. China’s miners dig in.

Pakistani crypto exchange RAIN has urged the country’s finance ministry to regulate and impose a 15% tax on cryptocurrencies, local media reported. See related article: Pakistan takes a fresh look at cryptocurrency Fast facts RAIN told regulators that Pakistan can earn roughly US$90 million in taxes through a capital gains tax on cryptocurrency assets, according […]

Solana-based non-fungible token (NFT) collection Okay Bears copycat “Not Okay Bears” has been delisted from marketplace OpenSea after recording millions of dollars in sales. See related article: Okay Bears NFTs record sellout helps Solana net US$2B in sales Fast facts Not Okay Bears are mirror images of the 10,000 versions of the original, and have […]

Terra’s LUNA and UST stablecoin implosions are roiling the crypto world and beyond. Picking up the pieces won’t be easy — nor finding a good path forward.

Terraform Labs co-founder and CEO Do Kwon proposed a hard fork of the Terra blockchain in the “Terra Ecosystem Revival Plan 2,” which will abandon the algorithmic stablecoin UST. See related article: UST loses dollar peg as Terra market cap slumps Fast facts Under the proposal, the network will be forked with the original chain […]

The price of LUNA, the native token of Terra, is now as volatile as low-cap meme currencies, and is currently at 23,716.5% from its all-time low set on Friday, according to CoinGecko data. See related article: UST loses dollar peg as Terra market cap slumps Fast facts The Terra network suffered a major meltdown last […]

A developmental shift in the cryptocurrency industry is ushering in geographical shifts among crypto companies, with a number of businesses abandoning locations once hailed as crypto hubs in favor of jurisdictions with regulatory regimes more to their liking.  Forkast sat down with two of the crypto industry’s rainmakers who are among those spearheading this trend […]

LUNA, the collateral used by Terraform Labs to back its TerraUSD (UST), has been in a freefall. But experts tell Forkast the crisis is likely to make the pioneering stablecoin stronger, and the community behind stablecoins better.

The wife of the CEO of Terraform Labs sought protection after an unidentified individual visited their home in South Korea, local police told Forkast.

The world’s largest cryptocurrency exchange will delist a number of trading pairs linked to TerraUSD (UST), an algorithmic stablecoin that has been in a freefall since earlier this week. See related article: Tether stabilizes after burning 3 billion tokens amid redemptions Fast facts Binance Friday said it will remove and cease the trading of several […]

The world’s largest stablecoin destroyed a total of 3 billion USDT tokens in an account known as Tether Treasury through two separate burns on Thursday, according to data from blockchain tracker Whale Alert. See related article: Terra shuts down indefinitely after coming back online; LUNA, UST still on life support Fast facts “Burn burn burn,” […]

Terra officially halted block production at 09:58 am HKT on Friday, block height 7607789, after restarting the network from an overnight shutdown to prevent possible governance attacks. Terra said validators are working on a plan to restart the network but did not release any further details. See related article: Terra plunges back to earth as […]

Terra’s sacrifice of LUNA pushes the UST up to US$0.84. Meanwhile, South Korea plans the institutionalization of crypto.

Bitcoin’s price has dipped to its lowest point since December 2020 amidst bearish cryptocurrency market sentiments to trade at US$28,652, according to CoinMarketCap data at press time. See related article: Terra LUNA’s sacrifice pushes UST to US$0.84 Fast facts The crypto bear run extended on Thursday, as China’s inflation rose by 1.5% in April from […]

The ‘virtual land’ sale that broke Ethereum was also a fiasco for buyers. Should Yuga Labs have seen it coming and taken preventative action?

U.S. Treasury Secretary Janet Yellen reiterated her stance on stablecoin regulations and said it’s “highly appropriate” to have a framework ready by the end of this year, as TerraUSD (UST) loses its dollar peg. See related article: Run on UST cuts the ground from under Terra’s feet Fast facts Yellen said at a Tuesday hearing […]

A probable run on terraUSD (UST) has weighed on the ability of the company and the non-profit behind the pioneering stablecoin project to defend its dollar peg.

Gen Z is already keen on metaverse real estate. Will using DeFi to finance property deals — in the real or virtual world — be the next frontier?

As decentralized finance redefines the way money moves, a do-or-die moment is approaching for traditional finance sector businesses, says Anthony Scaramucci.

The non-fungible token market posted a strong bounceback in April. As one industry watcher tells Forkast, the nature of the rebound points to more room for recovery.

Coinbase’s non-fungible token (NFT) marketplace has opened to all customers after the beta version was released to a select group of users in April, the Nasdaq-listed cryptocurrency exchange announced on Wednesday. See related article: Coinbase’s NFT market enters beta for select customers Fast facts Coinbase first announced its NFT marketplace in October 2021, and over […]

Top blockchain and crypto news: Otherdeeds debacle stings with gas fee spike. Algorand scores World Cup deal. Will China be forced to embrace Bitcoin?

Except for a bout of recession in March 2020, Bitcoin has been fairly resilient to the vagaries of global financial crisis. But with murmurs of another recession gaining steam, Forkast examines the cryptocurrency’s relevance as a safe haven.

Following a year of explosive price gains, the SHIB token is inching closer toward becoming a top 10 cryptocurrency. Will this so-called “Dogecoin killer” succeed? Forkast.News explores what’s in store for Shiba Inu.

There’s never a dull moment in the news business. Now, as media outlets explore blockchain, the Associated Press’s Dwayne Desaulniers says more change is coming.

Goldman Sachs Group Inc. offered its first Bitcoin-backed loan, setting another milestone in Wall Street’s cryptocurrency adoption, Bloomberg reported on Friday. See related article: Crypto milestone on Wall St.: Goldman Sachs makes OTC Bitcoin trade  Fast facts The cash loan’s Bitcoin collateral was owned by the borrower, according to the Bloomberg report. The banking giant […]

The city-state wants to position itself as a hub for cryptocurrency service providers while holding onto its reputation as an important cog in the global AML, ATF compliance machinery.

The city’s de facto central bank Wednesday sought public consultations on the e-HKD, as the Hong Kong Monetary Authority (HKMA) chief expressed concerns on a retail digital Hong Kong dollar intensifying competition in the retail payments space. See related article: Hong Kong to press ahead with digital dollar, e-CNY plans Fast facts See related article: […]

Former Microsoft strategist Joe McCann’s new crypto fund Asymmetric has gained backing from a16z’s Marc Andreessen and Solana cofounders Anatoly Yakovenko and Raj Gokal, The Block reported. See related article: KuCoin launches $100 mln fund for NFT projects Fast facts Asymmetric is aiming to raise US$1 billion to be split into a venture investment fund […]

Bored Ape Yacht Club’s (BAYC) official Instagram profile was hacked to promote a fraudulent phishing link to scam millions of dollars worth of non-fungible tokens (NFTs) from victims on Monday.  See related article: Why NFT scams are on the rise — and how to stop them Fast facts OpenSea, the largest NFT marketplace, has banned […]

NFT in gaming is not only for play-to-earn, writes Nicholas Douzinas of Ajuna Network. It should also be fun and foster human connections.

Tokenizing an asset allows its trading to be faster and cheaper, writes Oi-Yee Choo of ADDX. It can also broaden opportunities for small investors.

CoinDCX cofounder Sumit Gupta tells Forkast in an exclusive interview the crypto exchange that recently raised US$135 million will look to triple its headcount by the end of the year.

Binance, the world’s largest cryptocurrency exchange by trading volume, denied sharing client data with Russian authorities, following a Reuters investigation into the exchange’s ties with the country.

Joe Biden’s executive order on crypto has put America on course for solid success in the digital asset space, says the Blockchain Association’s Kristin Smith.

While the cryptocurrency industry continues to wait with bated breath for a spot-traded Bitcoin exchange-traded fund (ETF) to be approved in the U.S., three separate crypto funds were given the green light in Australia this week.  Australia’s ETFS Management (AUS) Ltd., or ETF Securities, launched a Bitcoin and an Ethereum fund, in partnership with Switzerland-based […]

TRON founder Justin Sun announced on Thursday a new decentralized dollar-pegged algorithmic stablecoin on the Tron blockchain called USDD. See related article: What are stablecoins, and why are some governments so afraid of them? Fast facts The TRON Decentralized Autonomous Organization (DAO) intends to raise US$10 billion within the next year to fund a crypto […]

A Porsche dealership in Baltimore, Maryland, has begun accepting mainstream crypto payments for vehicles, along with DOGE and Shiba Inu, according to a Tweet by U.S.-based crypto payment service provider BitPay. See related article: Lamborghini’s last all-gas Aventador to be auctioned with NFT Fast facts See related article: Hic Hic Hurray! Scottish distillery Ardbeg to […]

An attempt to assuage Axie Infinity players miffed by falling earnings isn’t turning out too well for developer Sky Mavis, Forkast learns, as loyalists bemoan it may be too little, too late.

The cryptocurrency market returned strong from the Easter holidays with Terra LUNA leading major coins with an 18.5% rebound to trade at US$91.43, on Tuesday morning Asia time. See related article: Is Terra — whose LUNA coin is now at another all-time high — really where the smart money is? Fast facts Terra reached its […]

Zhou Xiaochuan, the former governor of the People’s Bank of China, said in a speech on Saturday that the digital yuan is designed to focus on transactions for people and merchants and not to replace SWIFT or weaponize the currency. See related article: The digital yuan’s de-dollarization Fast facts See related article: Hong Kong makes […]

Xinhua News Agency’s affiliate newspaper, Economic Information Daily, Thursday published an op ed suggesting measures for the further adoption of the digital yuan. See related article: The digital yuan’s de-dollarization Fast facts See related article:Hong Kong makes apt testbed for e-CNY cross-border use

Circle, the issuer of the world’s second-largest stablecoin USDC, has raised US$400 million in its latest funding round with major investments from BlackRock and Fidelity Management and Research, as the stablecoin issuer looks to explore possibilities with the traditional financial world. See related article: Circle’s growth outpaces Tether as it doubles valuation Fast facts Circle […]

In an exclusive interview with Forkast, the head of government-founded Blockchain-based Service Network (BSN) cautioned against packaging NFTs as investment products despite the temptation to profit off the euphoria.

FLUID aims to disrupt the virtual asset market-making industry by lowering fees and latency. Fast facts Blockchain investors GSR, Ghaf Capital, and 21Shares led the round. FLUID aims to tackle a multi-trillion-dollar market problem of illiquidity in virtual assets. The firm wants to enhance liquidity across spot trading, derivatives, futures, synthetics, tokenized assets, and security […]

Top blockchain and crypto news: Market contagion hits crypto. Ethereum developer pays price for bad Korea move. China whacks more crypto miners.

Trading volumes at India’s major cryptocurrency exchanges slumped to their lowest in years after new taxes kicked in on April 1, according to research by Crebaco. See related article: Coinbase’s India launch hits road bump Fast facts U.S. dollar trading volume dropped by 72% on WazirX, 59% on ZebPay, 52% on CoinDCX and 41% on […]

Providing access to global customers and higher income, NFTs are changing lives in some of the poorest places in the world, writes Katherine Ng.

Crypto market downturns can dredge up bad memories of ICOs. What lessons can investors learn from the past — and how is Bitcoin different?

NFTs are seen as investments rather than aesthetic collectibles to Goldman clients, while the investment bank struggles to distinguish blue chip projects from the pretenders.

Oversight by the American commodities regulator of the Bitcoin futures ETF by Teucrium helped with the SEC approval.

Would gamers and developers still feel disdain for NFTs if companies used blockchain technology differently? Will Deane explores the possibilities.

The metaverse is envisioned as the next iteration of the internet, introducing an immersive digital universe. Find out what this means for the future of our online lives — beyond all the marketing hype — in this Forkast.News explainer.

Lightning Labs raised $70 million in series B funding to build a stablecoin and asset protocol on the Bitcoin network. See related article: Will the growing regulatory heat on stablecoins stifle innovation? Fast facts Investors include Valor, Baillie Gifford, Goldcrest, Kingsway, Stillmark, Brevan Howard, NYDIG, and others. Elizabeth Stark, co-founder and CEO of Lightning Labs, […]

Our virtual and in-person events bring people together to join conversations that matter. Previous Events Crypto Rising CBDCS & Stablecoins: The Asia Perspective We are in a history defining moment where money is evolving. It’s not easy to replicate cash, and central bankers around the world face unique challenges. The U.S. is softening up to […]

Since March 31, WAVES’ price has dipped more than 45% while the ecosystem’s native stablecoin USDN has been knocked off its dollar peg.

India needs to discourage people from investing in cryptocurrencies and digital assets, a senior MP from the ruling party told Forkast in an exclusive interview.

Bitcoin is now a reserve asset for Terra’s UST. What does this portend for the $186 billion stablecoins market?