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California financial regulator launches probe into FTX

The state of California has launched an investigation into the ‘apparent failure’ of crypto asset platform FTX.

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.
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FTX assets frozen by Bahamas securities regulator

The Securities Commission of the Bahamas has frozen assets of FTX and related parties, and has suspended its registration.

FTX Japan ordered to suspend operations by the country’s regulators 

FTX Japan was ordered by the country’s Financial Services Agency (FSA) to suspend operations until Dec. 9 and put together a “business improvement plan.”

Bitcoin gains 5% as U.S. inflation slows down in October

Bitcoin gained 5% after the U.S. Bureau of Labor Statistics reported that the consumer price index (CPI), a key inflation indicator, rose 0.4% in October from September. CPI was up 7.7% from a year earlier, less than the expected 7.9%, and down from 8.2% in September. October’s CPI recorded the smallest 12-month increase since January. 

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. 

Crypto exchange outflows rise amid FTX fiasco

Over 5.2 billion stablecoins left crypto exchanges on Wednesday, the most in five months, on-chain data showed.

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.

Will Contagion Spread?

Binance backs out of its initial offer to buy FTX. What could happen to FTX next?

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.

US regulators DoJ, SEC, CFTC probe crypto platform FTX

US regulators the Department of Justice, the Securities and Exchange Commission and the Commodity Futures Trading Commission are probing beleaguered crypto exchange FTX.

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.

The fall of FTX “not good for anyone,” CZ says

The sudden downfall of top cryptocurrency exchange FTX will bring in more regulatory scrutiny and raise the difficulty of obtaining licenses around the world, Binance founder and chief executive Changpeng Zhao said in an internal note, which he shared with the public via Twitter on Wednesday. 

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.

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.
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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.

Coinbase says it has minimal exposure to FTX, downplays risk

Coinbase said new users have registered on the exchange, while the crypto exchange claimed it has limited exposure to the underwater crypto exchange FTX.

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.

Alameda says ‘wasn’t us’ amid speculation about BitDAO’s 20% plunge

BitDAO, or BIT, the token supported by crypto exchange Bybit, dropped more than 20% within an hour at one stage around noon on Tuesday in Asia.

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.

Indian crypto exchange WazirX introduces profit, loss function

WazirX, India’s largest cryptocurrency exchange by trade volume, has introduced a profit and loss function for users to analyze and calculate their investments. 

South Korea’s online KakaoBank to open accounts for Coinone exchange users this month

KakaoBank, one of South Korea’s online-only banks with nearly 20 million users, said it will start providing accounts for users of Coinone exchange in November.

Token price of Ethereum-based play-to-earn company Gala Games falls some 20% after hacking scare

The network says the apparent attack was just a preemptive safeguard against an issue with a cross-chain bridge.

Bitcoin, Ether prices rise, Polygon leads top 10 in gains, Doge, Shib retreat

Bitcoin and Ether rose in Friday morning trading in Asia. Polygon’s Matic led gains in the top 10 tokens after Instagram said it would use Polygon to integrate NFTs into its platform.

Markets: Bitcoin, Ether fall; top 10 crypto mixed following Fed rate hike

Bitcoin and Ether dropped in Thursday afternoon trading in Asia, while the rest of the top 10 cryptocurrencies by market capitalization, excluding stablecoins, posted mixed results.

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.

Markets: Bitcoin, Ether rise; Dogecoin, Shiba Inu biggest gainers in top 10 crypto

Bitcoin and Ether traded up in Tuesday afternoon trading in Asia, while memecoins Dogecoin and Shiba Inu were the biggest gainers among the top 10 coins by market capitalization excluding stablecoins.

Markets: Bitcoin, Ether prices fall; Dogecoin, Shiba Inu bull run continues; BNB gains

Bitcoin and Ether prices fell in Tuesday morning trading time in Asia, while memecoin Dogecoin and Shiba Inu had the biggest gains among the top 10.

Sam Bankman-Fried says Hong Kong could become Asia’s Web 3 hub

The founder of crypto exchange FTX, which moved out of Hong Kong in 2021, said that the city could emerge as a Web3, blockchain and cryptocurrency hub.

Markets: Bitcoin, Ether drop; ADA leads decline across top 10 crypto

Bitcoin dropped nearly 3% in afternoon trading in Asia. All other top 10 cryptocurrencies by market capitalization, excluding stablecoins, declined following a strong two-day rally by most tokens.

Blockchain will be YouTube for finance, says CEO of South Korean blockchain firm Streami

The use of blockchain technology in finance will have an impact similar to that of YouTube on the media industry, said Lee Jun-haeng, CEO of South Korea-based blockchain company Streami.

SBF: FTX stablecoin, ‘Second Great Stablecoin War’ are coming

Sam Bankman-Fried, founder of the crypto exchange FTX, says he hopes FTX will soon join most other major exchanges in having launched a stablecoin.

Crypto a rising currency of choice for drug smugglers in India

India has witnessed an increase in drug smuggling using cryptocurrencies and the darknet, according to the country’s Home Minister Amit Shah. 

Kazakhstan’s central bank to test CBDC on BNB chain

The National Bank of Kazakhstan [NKB] will be testing the integration of their central bank digital currency (CBDC) on the BNB Chain.

Hong Kong mulls plans to legalize retail crypto trading: Bloomberg

Hong Kong is mulling plans to legalize retail crypto trading to regain its status as a global digital asset hub.

FTX CEO Sam Bankman-Fried says action needed on global rules for cryptocurrencies

Bankman-Fried says the global crypto industry needs a “passporting” policy framework that lowers barriers for crypto businesses.

A 100% reserve is a must for any stablecoin: Wemade CEO

A stablecoin that is not stable is an ‘oxymoron,’ said Henry Chang, CEO of South Korea-based blockchain game developer Wemade.

Hong Kong crypto firm Q9 Capital gets Dubai provisional approval

Hong Kong-based crypto investment firm Q9 Capital has received a provisional virtual asset approval from Dubai’s Virtual Asset Regulatory Authority (VARA), the company said on Wednesday in a statement shared with Forkast.

Aptos debut underwhelms amid questions over design and performance

Top blockchain and crypto news: Aptos launch falls short. Why FTX chief is calling for crypto regulations. Is Hong Kong paving way for a retail CBDC?

Markets: Bitcoin price hits three-week high; top 10 cryptos gain, led by Ether

Bitcoin posted a three-week high in afternoon trading in the Asia time zone. Ether led gains across all top 10 cryptocurrencies by market capitalization, with a 12% surge. Cardano’s ADA and Solana’s token also registered double-digit gains.

Crypto.com, Gate.io sign on to boost Busan’s blockchain aspirations

South Korea’s Busan signs agreements global cryptocurrency exchanges Crypto.com and Gate.io to grow the city’s blockchain ecosystem.

Markets: Bitcoin price back above US$20,000, Ether jumps as U.K. votes to regulate crypto

Bitcoin was trading above US$20,000 for the first time in almost three weeks on Wednesday morning trading in Asia.

Aptos rollout faulted for slow processing speeds; native token plunges

The blockchain network was built by former members of the Meta stablecoin project, with well-known investors and considerable buzz as the new ‘Solana killer.’

‘Hacktober’ continues with US$1 mln taken from BitKeep token swap service

An unidentified hacker stole over US$1 million in Binance Coin (BNB) tokens from decentralized multi-chain wallet BitKeep’s token swap service on Monday, according to a Tuesday statement by the company. See related article: Crypto hackers on track for bonanza year as theft surges, Chainalysis says Fast facts “Our development team managed to contain the emergency […]

Mastercard to let banks offer crypto services to clients

Global payments company Mastercard intends to enable financial institutions to offer crypto services to customers with its new Crypto Source program. See related article: Binance partners Mastercard to launch card in Argentina for bill payment, everyday purchases Fast facts The program will allow financial institutions to tap into Mastercard’s partners to buy, hold and sell […]

Markets: Bitcoin, Ether rise along with all top 10 crypto as inflation sell-off turns bullish

Bitcoin rose in Friday evening trading in Asia to jump past its US$19,000 support line, with Ether and all other top 10 cryptocurrencies by market capitalization gaining, led by XRP.  See related article: Ethereum price undervalued since The Merge: report  Fast facts Bitcoin gained 3.33% in the past 24 hours to trade at US$19,647 at […]

Crypto hackers on track for bonanza year as theft surges, Chainalysis says

Decentralized finance sites are the preferred choice of hackers as crypto heists look to be on course to hit a record high this year.

Bitcoin fans pitch Satoshi Nakamoto for Nobel Prize in Economics

Bitcoin advocates have once again launched their annual campaign to have Satoshi Nakamoto — the pseudonymous creator/s of Bitcoin — named as the recipient of the Nobel Prize in Economic Sciences. See related article: What’s next for Binance after $100 million BNB hack? Fast facts On Oct. 10, the Royal Swedish Academy of Sciences awarded […]

Crypto.com to invest US$145 mln in France as base for European operations

Crypto.com said on Wednesday that the exchange will invest €150 million (US$145.5 million) in France to set up a European headquarters in Paris and expand operations in the region. See related article: Crypto.com enters South Korea market with two local startup acquisitions Fast facts The Singapore-based exchange said it will focus on compliance, business development […]

Markets: Bitcoin, Ether prices rise; BNB little changed following BSC hard fork

Bitcoin gained in Thursday morning trading in Asia, with the world’s largest cryptocurrency holding above support at US$19,000. Ether, second on the list of top 10 cryptocurrencies by market capitalization, excluding stablecoins, also gained. Other coins on the top 10 moving higher included Solana, XRP and Tron. Cardano fell. See related article: Binance to hard […]

Blockchain.com granted in-principle approval for Singapore license

Cryptocurrency exchange Blockchain.com has received in-principle approval from the Monetary Authority of Singapore (MAS) for a license to offer “digital payment token” services in the city-state.  See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts Blockchain.com is the second crypto exchange to earn the central bank’s in-principle approval […]

OpenSea begins support for Avalanche blockchain

OpenSea, the peer-to-peer non-fungible token (NFT) marketplace, has launched native support for the Avalanche blockchain, according to the platform’s verified Twitter account. See related article: Warner Music taps OpenSea NFT marketplace to guide artists to Web3 Fast facts Starting on Oct.12, content creators on Avalanche can display, list, and trade their NFTs on the world’s […]

Markets: Bitcoin, Ether inch up; XRP rebounds following positive lawsuit ruling

Bitcoin inched up today to remain above the US$19,000 support line amid mixed results among the top 10 cryptocurrencies by market capitalization, excluding stablecoins, led in gains by Tron. XRP rebounded from losses yesterday. See related articles:  Binance to hard fork BNB Smart Chain amid heated debate around decentralization  Fast facts Bitcoin gained 0.17% in […]

Indian investors allegedly duped in crypto cloud mining scam

About thirty investors in India have been allegedly duped of US$54,653 through a crypto cloud mining app, local media reported.   See related article: India financial crime unit cites ‘Chinese-controlled entities’ in alleged crypto fraud Fast facts Investors from Solapur city in India’s Maharashtra state were allegedly duped by fraudsters who lured them to download the […]

Solana-hosted DeFi platform Mango exploited for over US$100 mln

Mango Markets, a decentralized platform hosted on the Solana blockchain, was exploited for over US$100 million. See related article: What is the Solana ecosystem and how is it fueling SOL’s stratospheric rise? Fast facts Mango’s token MNGO was severely impacted, dropping 42.9% in the past 24 hours to US$0.023 as of 11:15 a.m. in Hong […]

BSC to hard fork on Wednesday after US$100 mln exploit

BNB Smart Chain (BSC), the blockchain network launched by the world’s largest cryptocurrency exchange Binance, will perform a hard fork and upgrade on Wednesday as a fix following an Oct. 6 vulnerability, according to an announcement on Tuesday. See related article: BNB Chain back online after around $100 mln lost in possible exploit Fast facts […]

BNB Chain back online after devs deploy update to save funds

Through quick identification and cooperation of network validators, most funds were saved in last week’s BNB Chain exploit.

Markets: Bitcoin, Ether fall with other top 10 crypto – BNB, Dogecoin lead losers

Bitcoin fell in Friday evening trading in Asia to dip below the US$20,000 support line as the top 10 cryptocurrencies by market capitalization lost ground, led by Dogecoin and BNB. See related articles: Markets: Bitcoin dips; BNB drops on chain glitch; Ether, XRP little changed Fast facts: Bitcoin lost 1.39% in the past 24 hours […]

BNB Chain back online after around $100 mln lost in possible exploit

Binance’s BNB Chain has come back online after being suspended earlier in the morning when an exploit was identified, the blockchain announced on Twitter on Friday afternoon in Asia. See related article: Binance suspends BNB blockchain on potential exploit; Peckshield reports US$572 mln hack Fast facts Changpeng Zhao, cofounder and chief executive officer of Binance, […]

Markets: Bitcoin dips; BNB drops on chain glitch; Ether, XRP little changed

Bitcoin dipped under the US$20,000 support line in Friday morning trading in Asia, a price it has repeatedly fluctuated around for several weeks. Ether, the second largest token by market capitalization, was little changed and up about 2% on the week. Most other coins in CoinMarketCap’s top 10 by market capitalization were flat to lower. […]

What lies ahead for crypto in India

Binance in India – potential or problem?

Markets: Bitcoin, Ether prices rise; XRP leads widespread gains among top 10 crypto

Bitcoin gained in Thursday evening trading in Asia and remained above US$20,000. Ether values fluctuated in the day but eventually rallied. Of the top 10 cryptocurrencies by market capitalization, XRP led gains while stablecoins Tether and Binance USD declined on the day. See related articles: Markets: Bitcoin dips but holds above US$20,000, Ether falls, XRP […]

Mastercard launches crypto exchange risk assessment tool

Financial services company Mastercard Inc. has launched Crypto Secure, a technology solution designed to help banks identify fraud-prone crypto exchanges, the company announced in a press release. See related article: Binance partners Mastercard to launch card in Argentina for bill payment, everyday purchases Fast facts The service uses artificial intelligence algorithms and blockchain data to […]

Markets: Bitcoin price rises above US$19,000, Ether and rest of crypto top 10 gain

Bitcoin rose above US$19,000 in Tuesday morning trading in Asia, with Ether and the rest of the top 10 cryptocurrencies by market capitalization gaining. The moves reflected strong gains in U.S. equity indexes on Monday after rounding out September with significant losses. See related article: Markets: Bitcoin price falls below US$19,000, XRP down, BNB only […]

Markets: Bitcoin, Ether slip; XRP slumps; Hang Seng Index touches 11-year low in Hong Kong

Bitcoin and Ether prices fell in Monday evening trading in Hong Kong amid widespread losses among the top 10 cryptocurrencies by market capitalization, with BNB being the sole gainer. In equity markets, Hong Kong’s Hang Seng Index at one stage fell to the lowest level in 11 years. See related article: Markets: Bitcoin price falls […]

Markets: Bitcoin price falls below US$19,000, XRP down, BNB only gainer in crypto top 10

Bitcoin was back under US$19,000 in Monday morning trading in Asia, a level it has fluctuated around for most of the past two weeks, boxed in by global macroeconomic concerns that have also hit equity markets. Ether also fell. BNB was the only gainer among the top 10 cryptocurrencies by market capitalization. See related article: […]

India’s ED freezes more crypto in E-Nuggets money laundering case

India’s financial crime fighting agency has frozen additional cryptocurrencies worth around US$58,000 as part of an ongoing money laundering probe against mobile gaming application E-Nuggets and its former executive. See related article:  Indian authorities probe alleged $125 mln money laundering cases involving crypto, report says Fast facts The additional cryptocurrencies include WRX, the utility token […]

Busan taps K-pop metaverse to win 2030 World Expo bid

Busan, South Korea’s second-largest city, is opening a virtual space on Naver Z’s Zepeto metaverse at 12 p.m. on Friday, Korea time, to promote the city in efforts to host the World Expo in 2030. See related article: South Korea’s Busan city wants to be blockchain central. Did everyone get the memo? Fast facts The […]

Scalability is Ethereum’s post-Merge focus: Vitalik Buterin

Vitalik Buterin identified Ethereum’s next big challenges as scalability and layer 2 implementations at the Converge22 conference.

USDC coming to five additional blockchain ecosystems

Circle Internet Financial, Inc., the global financial technology company behind the USD Coin (USDC) stablecoin, will soon be making the token available on five additional blockchains, Chief Product Officer Nikhil Chandhok said on Wednesday at the company’s Converge22 conference.  See related article: U.S. Fed has growing interest in CBDCs, says Jeng at Crypto Council for […]

Kevin O’Leary to launch Web3 fund with backing from UAE; pushes back on Jamie Dimon

Kevin O’Leary plans to launch a Web 3.0-focused investment fund called Cipher, the Shark Tank investor told Forkast Editor-in-Chief Angie Lau at the Converge22 blockchain and cryptocurrency conference on Wednesday in San Francisco.  See related article: Capital gains: How Web3 property rights can transform the digital economy Fast facts “We’ve got to get away from this […]