Forkast.News is now Forkast Labs

Tornado Cash developer Alexey Pertsev to remain in jail until February

Alexey Pertsev, a developer of the now-sanctioned crypto mixer Tornado Cash, has been ordered to stay in jail until Feb. 20 at least.

At FTX’s first bankruptcy hearing, lawyer calls out ‘substantial amount’ of missing, stolen assets

In the first day of FTX’s bankruptcy hearing, FTX counsel says the organization was run as ‘personal fiefdom’ of Sam Bankman-Fried.

Markets: Bitcoin, Ether prices rise as top 10 cryptos strengthen

Bitcoin and Ether strengthened in Asia trade on Wednesday afternoon, reversing some of their losses on Monday and Tuesday. Top 10 cryptocurrencies by market capitalization, except stablecoins, also increased.

S.Korea’s top regulator says digital assets, virtual assets are different

While the crypto industry grapples with the definition of blockchain-based digital tokens, South Korea wants to nail down the terminology.

CoinMarketCap launches proof-of-reserve tracker for crypto exchanges

CoinMarketCap has introduced a proof-of-reserve tracker for centralized crypto exchanges in a bid to improve transparency.

New York State passes two-year moratorium on some crypto mining facilities

New York became the first U.S. state to enact a temporary ban on new cryptocurrency mining permits at fossil fuel plants, despite lobbying against the measure. 

Markets: Bitcoin, crypto rise as FTX contagion fears ease

Bitcoin recovered above US$16,000 in Wednesday morning trading as it rose along with Ether and the rest of the crypto top 10 by market capitalization, excluding stablecoins.

Regulators should seek greater disclosure from stablecoin issuers: HK monetary authority researchers

Regulators should seek more disclosure from stablecoin issuers, as stablecoins could transmit risk from markets to traditional finance, according to researchers at the Hong Kong Monetary Authority

Cathie Woods buys the dip as Ark Invest scoops up Coinbase, GBTC shares: Bloomberg

Cathie Wood’s Ark Investment Management has bought over 1.3 million shares of Coinbase Global since the start of November, and 450,000 shares of Grayscale Bitcoin Trust (GBTC).

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.

Cardano, blockchain payment firm Coti to launch algorithm stablecoin Djed in Jan 2023

Proof-of-stake blockchain platform Cardano and blockchain payment platform Coti will launch an algorithmic stablecoin Djed in January 2023

Warren Buffet’s Berkshire Hathaway warns of scam crypto site with same name

Berkshire Hathaway, the investment conglomerate run by billionaire Warren Buffet, has issued a warning about a fake cryptocurrency website that uses the Berkshire Hathway name.

Football most popular sport among crypto investors: KuCoin survey

Football is the most popular sport among crypto investors and 48% of fans among these investors are interested in trading fan tokens for sports teams during the FIFA World Cup, according to a new survey by Seychelles-based crypto exchange KuCoin. 

Huobi plans Southeast Asia, Europe, Caribbean expansion

Huobi Global, one of the world’s largest cryptocurrency exchanges, plans to ramp up its investments in Southeast Asia and Europe as part of its global expansion, the company said in a statement on Tuesday.

Thai crypto exchange eyes Hong Kong for possible public share sale in 2024: report

Bitkub, one of the largest crypto exchanges in Thailand, is aiming to list in Hong Kong as early as 2024 when it goes public.

Bitcoin price falls to more than two-year low amid growing concerns about FTX fallout

Investors are unnerved by the possibility of more failures among companies linked to the now bankrupt FTX exchange, fearing a repeat of the Terra-Luna stablecoin collapse in May that also brought down other businesses.

Binance says it will hire 600 by year end, bring total employees to 8,000

The world’s largest crypto exchange seeks to hire 600 more employees by the end of this year, its founder and chief executive officer said.

Coinbase Custody holds 635,000 BTC on behalf of Grayscale that refuses to share proof of reserves

Coinbase Custody Trust, the institutional investment arm of Coinbase Global, holds 635,000 BTC on behalf of Grayscale Bitcoin Trust, according to a note by Coinbase Custody CEO Aaron Schnarch. Digital investment firm Grayscale has also declined to share proof of reserves, citing security concerns.

Markets: Bitcoin, other tokens add to losses in Asia trading Monday

Bitcoin and Ether extended their losses through late Asian trading on Monday, as did all the top 10 non-stablecoin cryptocurrencies by market capitalization. Dogecoin was the biggest loser. 

Input Output announces privacy-centric blockchain and token on Cardano

Input Output Global Inc. (IOG), the firm behind the Cardano blockchain, is releasing a new data-protection and privacy-centric blockchain and accompanying token.

Man Group plans crypto hedge fund despite FTX, market turmoil: report

The world’s largest publicly traded hedge fund manager, Man Group Plc, plans to launch a cryptocurrency exclusive fund.

Markets: Bitcoin, other crypto start week lower as FTX collapse continues rumble through the industry

Bitcoin and Ether both fell in Monday morning trading in Asia along with all of the top 10 non-stablecoin cryptocurrencies by market capitalization.

FTX requests Chapter 15 bankruptcy case moved to Delaware, hearing on Tuesday

FTX Trading will be at a hearing on Nov. 22 in a bankruptcy court in Delaware, as the troubled exchange seeks to transfer a related case from New York to the Delaware court, according to a court filing.

Ethereum software developer ConsenSys co-launches Ethereum Climate Platform at COP27

Core Ethereum contributor ConsenSys co-launched the Ethereum Climate Platform (ECP) at the COP27 climate change conference in Egypt.

Markets: Bitcoin, Ether rise as most top 10 cryptos rally

Bitcoin and Ether inched up in Friday evening trade in Asia with most other top 10 cryptocurrencies by market capitalization, excluding stablecoins. Dogecoin and Solana lost ground for a second consecutive day.

Markets: Bitcoin flat, most crypto top 10 fall as Fed indicates further rate rises

Bitcoin traded little changed Friday morning in Asia, while Ether fell along with most other non-stablecoin top 10 cryptocurrencies by market capitalization.

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.

Class action lawsuit targets SBF, celebrity FTX endorsers Tom Brady, Naomi Osaka and others

Sam Bankman-Fried and roughly a dozen of the embattled exchange’s celebrity endorsers are the subject of a class action lawsuit filed by FTX users.

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.

Vitalik Buterin sounds warning over risks of DeFi

Ethereum cofounder Vitalik Buterin has sounded a warning against the pitfalls of decentralized finance (DeFi) and self-custody, namely of bugs in smart contract code.

Crypto winter may last until end of 2023: Coinbase research

The collapse of FTX may extend crypto winter to the end of 2023, according to a monthly outlook report by U.S.-based crypto exchange Coinbase dated Nov. 15.  

Twitter Users are Looking for Alternative

Elon Musk’s messy Twitter acquisition has users looking for a decentralized social media alternative.

Markets: Bitcoin inches up, Ether falls; most top 10 crypto rebound

Bitcoin inched up during Wednesday afternoon trade in Asia while most of the top 10 cryptocurrencies by market capitalization, excluding stablecoins, rallied from recent losses.

Who is exposed to FTX? A running compilation on a rapidly moving target

The number of creditors with claims on the collapsed FTX cryptocurrency exchange and its affiliates may run into the hundreds of thousands and possibly more than 1 million.

AAX crypto exchange at risk of capital deficit, says market vulnerable from FTX collapse

AAX wants to reopen withdrawal services with additional capital, while VP Caselin told Forkast AAX is caught in a market-wide vulnerability.

NFT platform, art collective launch collaboration in aid of Ukraine

NFT platform laCollection has launched a series of collaborations with international artists to raise funds for Ukrainian cultural institutions.

Trezor, Ledger report surge in hard wallet sales amid FTX meltdown

What to do when one of the world’s most trusted crypto exchanges implodes? For many it’s finding a safer place for their assets, and that is typically hardware wallets.

Markets: Bitcoin, Ether rise amid positive inflation data, despite reports of Russian missile strikes in Poland

Bitcoin and Ether rose on Wednesday morning in Asia amid reports of alleged Russian missile strikes on Poland while inflationary data out of the U.S. provided support.

FTX hacker becomes 35th largest Ethereum holder

The address associated with the FTX hack swapped US$48.2 million worth of DAI stablecoins to 37,570 Ether and became the 35th largest holder of the world’s second-largest crypto.

Shark Tank’s Kevin O’Leary says FTX debacle will never happen again

O’Leary remains committed to crypto even after losing his investment in FTX.com, but said that the industry will become more regulated.

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.

Binance says it will set up crypto recovery fund, industry standards group

Changpeng Zhao, founder and chief executive of Binance, tells the B20 Summit in Indonesia that the world’s largest cryptocurrency exchange aims to help improve business and operation standards in the crypto industry.

FTX bankruptcy and fallout: Monday updates and commentary

The following is a running compilation of views and comments on the FTX bankruptcy and implications for the industry.

Singapore’s central bank partners New York Fed to explore wholesale CBDCs

The Monetary Authority of Singapore (MAS) has partnered The New York Innovation Center of the Federal Reserve Bank of New York, to study if wholesale central bank digital currencies (wCBDCs) can make cross-border payments more efficient.

Shark Tank’s Kevin O’Leary says ‘FTX still has value,’ its story still being written

While FTX’s cash crunch has rattled global markets and investors, a White Knight investor could quickly turn the tide for the company, O’Leary told Forkast in an interview.

Markets: Bitcoin, Ether prices rise as crypto market shows sign of pick-up

Bitcoin and Ether strengthened in Friday afternoon trading in Asia, reversing some of Wednesday’s and Thursday’s sharp losses. All other top 10 cryptocurrencies by market capitalization, excluding stablecoins, also increased.

FTX liquidity crunch leads to contagion fears; Friday updates and running commentary

The following is a running compilation of views and comments on the possible short- and long-term outcomes of FTX’s liquidity crunch.
and

FTX US warns user trading could be halted ‘in a few days’

Sam Bankman-Fried says FTX US is insulated from FTX.com’s liquidity crunch, but the American-based platform could freeze trading in the next few days.

Markets: Bitcoin, Ether gain in crypto market rebound off slowing U.S. inflation

Bitcoin rose on Friday in Asia along with Ether and most other major tokens, reversing  a three-day slump as the Consumer Price Index (CPI) released Thursday showed inflation in the U.S. slowed in October.
and

Industry reacts: FTX bankruptcy fears rise after Binance scraps rescue

There are not many white knight investors that are large enough to bail out the embattled crypto exchange, industry insiders say.
, and

FTX debacle has crypto industry pointing finger at regulators in call for clear rules of the road

The FTX.com unraveling has prompted crypto industry leaders to demand clearer rules of the road for trading digital assets.

Sequoia Capital marks down US$214 mln FTX stake to zero

Venture capital firm Sequoia Capital has written down its entire US$213.5 million investment in FTX, the company revealed in a tweet on Thursday.

Ark Invest swoops in to buy US$21.4 mln in Coinbase shares

Cathie Wood’s Ark Invest seized the opportunity provided by Wednesday’s market downturn to snatch a considerable chunk of Coinbase stock.

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.

Bitcoin hits lowest price in two years as Binance cancels FTX acquisition

Just over 24 hours after news of Binance’s planned acquisition of FTX shook the crypto market, a reversal of that decision sent prices even lower.

Binance pulls out of FTX buyout; latest updates and commentary

The following is a running compilation of views and comments on Binance’s announcement that it will not go ahead with the acquisition of FTX.com.

FTX provided US$4.1 billion bailout to Alameda Research: data

FTX exchange sent Alameda Research 173 million FTT tokens on Sept. 28, worth US$4.1 billion at the time.

Singapore’s Temasek holds stake in FTX, a target of Binance takeover

Singapore’s state-owned investment firm Temasek is a shareholder in embattled cryptocurrency exchange FTX, which faces a possible takeover by bigger rival Binance

Binance boosts emergency insurance fund to US$1 billion on market volatility

Binance, the world’s largest cryptocurrency exchange, has raised its emergency insurance fund “SAFU” to US$1 billion equivalent in cryptocurrencies, founder Changpeng Zhao said in a Tweet on Wednesday. 

Crypto exchanges see more withdrawals over fears of FTX liquidity

Large volumes of stablecoins moved out of exchanges, including KuCoin, OKX, Kraken, Huobi and Binance over the past week.
and

Markets: Bitcoin, Ether slump eases but market sell-off continues

Bitcoin recovered slightly in Wednesday afternoon trading in Asia after hitting a year-low of US$17,604 this morning amid news of Binance’s takeover of the FTX exchange following speculation of solvency issues at FTX, although several coins extended their declines.

‘Pharma bro’ Martin Shkreli to Do Kwon: jail isn’t that bad

“Pharma bro” Martin Shkreli has tried to reassure Terra chief Do Kwon that life in jail is “not the worst”, while they discussed the Binance-FTX deal on the UpOnlyTV podcast.

Markets: Bitcoin hits year low, Ether slumps as Binance rescue of FTX unnerves investors

Bitcoin fell to a year’s low of US$17,603 in Tuesday morning trading in Asia as Binance Global Inc.’s takeover of the FTX exchange unnerved investors.

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.

Markets: Bitcoin, Ether prices drop; Matic the only coin to gain

Bitcoin and Ether slumped in Tuesday afternoon trade in Asia, with almost every other top 10 cryptocurrencies by market capitalization, excluding stablecoins, also losing ground. For the second consecutive day, polygon was the only coin that strengthened.

Markets: Bitcoin, Ether prices fall with most of crypto top 10, Polygon flips Solana

Bitcoin dipped below US$21,000 in Tuesday morning trading in Asia as Ether and most other tokens in the cryptocurrency top ten by market capitalization, excluding stablecoins, lost ground.

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.

Binance to sell FTX token holdings amid questions over trading arm Alameda finances

Binance CEO Changpeng Zhao said Binance will liquidate its remaining FTT tokens issued by the second-largest crypto exchange FTX amid questions over Alameda Research.

Markets: Bitcoin, Ether prices pull back after weekend gain on sign U.S. inflation may be easing

Bitcoin and Ether fell in Monday morning trading in Asia as the crypto market gave up some gains made on the weekend on the back of U.S. job numbers on Friday.

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.

Markets: Bitcoin, Ether gain; DOGE leads top 10 crypto losses; Hang Seng rises 5%

Bitcoin and Ether gained with mixed results across the top 10 cryptocurrencies by market capitalization, excluding stablecoins. The Hong Kong Hang Seng Index gained 5.30% amid speculation that the Chinese economy will soon reopen.