Search results: dollar

The People’s Bank of China said it expanded its digital yuan pilot program to 11 more cities, including in Hangzhou, which hosts the Asian Games in September. See related article: The digital yuan’s de-dollarization Fast facts The 11 cities that will trial China’s central bank digital currency (CBDC) are Tianjin, Chongqing, Guangzhou, Fuzhou, Xiamen, and […]

In contrast to the rising crypto market, NFT sales have declined significantly in March, but one industry watcher says there’s no need to panic just yet.

Augmented reality (AR) glasses maker Nreal raised US$60 million in its Series C+ led by Alibaba, which joins rival Chinese tech giants Tencent and ByteDance in a race into the metaverse.  See related article: Why the metaverse is a trillion dollar opportunity Fast facts See related article: Foxconn’s Taiwan subsidiary receives investment from Google for […]

Binance US is on track for an initial public offering (IPO) in two to three years, with a “couple of hundred million dollars” in funding to be announced in April, Binance US CEO Brian Shroder said at the Binance Blockchain Week on Monday.  See related article: Binance US under probe for ties with trading affiliates: […]

The Japanese trustee for Mt. Gox is likely to distribute the remaining trove of Bitcoins held by the defunct cryptocurrency exchange sooner than later, former CEO Mark Karpeles tells Jake Adelstein in an exclusive interview for Forkast.

India’s crypto tax represents both a threat to the industry and an opportunity to create a regulatory framework to support it, says Polygon’s Jaynti Kanani.

Russia State Duma deputy and Energy Committee chairman Pavel Zavalny proposed Bitcoin and national currencies as payment options for energy exports to “friendly countries,” such as Turkey and China, at a press conference on Thursday. See related article: EU says crypto included in sanctions against Russia and Belarus Fast facts Zavalny proposed gold and Russia’s […]

With explosive growth in the past 12 months, the non-fungible token industry is getting too big to ignore IP licenses, experts say.

BAYC is one of the hallmark NFT collections and a billion-dollar ecosystem. This Forkast explainer explores the cartoon primates and what makes them so special.

Growth drivers of the NFT ecosystem The growing popularity of NFTs is stunning, having risen from several hundred million dollars in sales when the market first started, to around US$20 billion in 2021. We believe the exponential growth seen around the world can be explained by the product-market fit: NFTs have effectively provided a bridge […]

The Sandbox metaverse is made up of 166,464 unique land NFTs, digital pieces of real estate, that players can own to publish their creations, monetize their games or rent to other creators. These lands will host a wide range of experiences, and their limited number makes The Sandbox seem like a virtual Manhattan when it […]

From the lookout: Unbeknownst to those outside the NFT space, there’s a mammoth blockchain game on the horizon. Even before the launch of Star Atlas, which promises cinema-quality graphics, investors are already pouring millions of dollars to purchase in-game NFT items. The unreleased game’s leaderboard shows a player with US$4 million worth of assets. This […]

In March 2021, a non-fungible token (NFT) in the form of artist Beeple’s digital collage sold for US$69 million at a Christie’s auction. It created a buzz among retail and professional investors who began to take a serious look into this new revenue stream for digital artists. Around the same time, Dapper Labs’ NBA Top […]

Traditional banks are failing the nearly 2 billion people in the world without access to financial services, writes Khalid Howladar. But DeFi can be a lifeline.

The rapid rise of NFTs has sparked concerns about speculative bubbles as well as the negative impact on the environment. As discussed earlier, China permits trading in NFTs so long as there is a holding period after each purchase. The country’s state media have also warned against speculative behavior surrounding NFTs.  In places such as […]

Ethereum’s market value passing up Bitcoin’s may not be a matter of if, but when. Dr. Kosrow Dehnad and Joe Duncan offer a predictive model.

Cryptocurrencies have won credit for their role in Ukraine’s war, showing utility that will drive them beyond the battlefield, says Amber Group’s Michael Wu.

Europe’s first metaverse-themed exchange-traded fund (ETF), the ETC Group Global Metaverse UCITS ETF (METR), listed on the London Stock Exchange Thursday, available for sale across Europe. See related article: Hong Kong gears up for its first metaverse ETF Fast facts The ETF will track the Solactive ETC Group Global Metaverse Index, which currently offers exposure […]

Top blockchain and crypto news: PoW spared as Europe revamps MiCA rules. Yuga Labs acquires CryptoPunks rights. China’s Mango TV makes NFT debut.

Terraform Labs CEO and founder Do Kwon has accepted bets worth millions of dollars on Terra’s cryptocurrency LUNA trading higher than US$88 in a year’s time, which was the price of the token at the time of the bet. See related article: Is Terra — whose LUNA coin is now at another all-time high — […]

Amid Russia’s invasion of Ukraine, two divergent narratives about crypto are being told, writes Alex Tapscott. Which version is correct?

Cryptocurrency is being used both to fund Ukraine’s defense and prevent Russia’s ability to skirt sanctions in what may become a pivotal moment for the industry.

War-mongering Russia is finding itself increasingly isolated. Can cryptocurrency help the rogue state soften the blow of sanctions?

As Russia’s economy began to tank, data shows many turned to Bitcoin and other cryptocurrencies as a store of value and means of transacting.

President Joe Biden on Wednesday urged the federal government to research and develop a digital dollar in an executive order describing broader directives for a coordinated and comprehensive U.S. approach to digital assets. See related article: CBDC tracker shows U.S. falling further behind Fast facts “My Administration places the highest urgency on research and development […]

‘Lazy minting’ may seem affordable but heightens the risk of NFT theft, writes Anthem Blanchard of Herasoft. Is storing NFTs on-chain the solution?

Stranded away from home, Web 3.0 company Everstake founder Sergey Vasylchuck realized he could still help his war-torn homeland Ukraine by raising funds through a DAO.

Bitcoin and other cryptos are being used on both sides of the fight, raising ethical issues that cut to the core of decentralization, says AAX’s Ben Caselin

War-mongering Russia is finding itself increasingly isolated. What if the rogue state tries to regain its financial footing via cryptocurrency?

Look for progress reports on e-CNY, blockchain technology, new digital infrastructure, and subtle mentions of the international sanctions against Russia.

Top blockchain and crypto news: Digital currency battling Russian invasion. Ethereum remains NFT projects’ chain of choice. China to lock up crypto traders.

With limited access to donations through traditional crowdfunding, cryptocurrencies and NFTs offer immediate help, Trippy Labs tells Forkast.

The trading volume of the USDT-RUB pair spiked to a 10-month high and outpaced the ruble’s Bitcoin pair as international sanctions against Russia shake local financial stability.  See related article: US asks crypto exchanges to comply with Russian sanctions: report Fast facts The daily trading volume of the BTC-RUB pair surged to over 3 billion […]

The multi-faceted metaverse provides new channels for gaming, socialization, art exhibitions and more. Who’s leading the race and how?

More people in the region are in thrall to play-to-earn gaming as it adapts to offer real-world uses, says Infinity Ventures Crypto founding partner Brian Lu.

BitMEX founders Arthur Hayes and Benjamin Delo pleaded guilty to violating the Bank Secrecy Act’s anti-money-laundering provisions, the U.S. Attorney’s Office in Manhattan said on Thursday. See related article: BitMEX pays US$100M to settle AML, KYC compliance breach charges Fast facts Under the terms of the plea agreement, Hayes and Delo will each pay US$10 […]

When the world’s biggest crypto exchange acquires a major stake in the business publication it once sued for defamation, should we worry?

Heilongjiang province in northeastern China has joined the bid to compete with 10 other cities to become the next digital yuan pilot city, it announced on Monday.  See related article: E-CNY chief says digital dollar poses no threat to China Fast facts See related article: Hong Kong makes apt testbed for e-CNY cross-border use

China’s National Intellectual Property Administration (CNIPA) said on Monday that 16,000 trademarks containing the word “metaverse” have been filed.  See related article:  Why the metaverse is a trillion dollar opportunity Fast facts CNIPA opposed the high number of filings, vowing to crack down on “malicious registrations” of trademarks, such as piggybacking on the rising popularity […]

Charitable giving in Bitcoin and other cryptocurrencies is growing by leaps and bounds. Michael B. Greenwald and Logan Weber explain the risks and benefits.

An asset bought and valued in crypto becomes decoupled from crypto prices, a split that reflects the differences between crypto investors and NFT buyers.

Azuki, an anime avatars NFT collection, is in a tight race with the CryptoPunks for the weekly sales volume title, building on its successful debut month in January, according to CryptoSlam data.  See related article: ‘All eyes are on it:’ CryptoPunks at center of copyright legal dispute Fast facts Azuki traded the top spot with […]

Hong Kong’s first metaverse-themed exchange-traded fund (ETF), the CSOP Metaverse Concept ETF, is scheduled to be listed on Feb. 21 on the Stock Exchange of Hong Kong, according to a CSOP Asset Management disclosure document.  See related article: NFTs, metaverse listed as top ‘must watch’ security risks in Hong Kong Fast facts The metaverse ETF […]

President Biden’s executive order directing agencies to devise a comprehensive strategy to regulate cryptocurrencies and other digital assets and examine a digital dollar may be issued next week, according to Yahoo! Finance. Fast facts The order, expected weeks ago, was delayed by a disagreement between the White House and the Treasury over its scope, Bloomberg […]

The city’s global reach, Hong Kong dollar and mainland ties make it a good fit for Chinese authorities to trial e-CNY international payments.

DeFi can put investors at risk if they don’t understand how it works, writes Korapat Arunanondchai. Here’s how to improve user experience.

Top blockchain and crypto news: Super Bowl score for digital asset exchanges. CryptoPunks holders face copyright conundrum. Hong Kong warns of NFT risks.

Warren Buffett’s Berkshire Hathaway purchased US$1 billion of Brazilian neobank Nubank Class A stock in Q4 2021 while selling billions of dollars of stock in Mastercard and Visa. Fast facts Buffett’s holding company dumped US$1.3 billion and US$1.8 billion from Mastercard and Visa, respectively, according to a Feb. 14 filing with the U.S. Securities and […]

Vitalik Buterin’s advocacy of synthetic wombs misses the point, writes Izzy Howell of Cypher. Here’s why crypto can do more for gender equality.

Phillips, a global auction house, launched a nine-day non-fungible token (NFT) auction on Monday, Valentine’s Day, in Hong Kong. Fast facts Six artworks are being auctioned as NFTs. One NFT for bidding is an auction data-generated NFT “Drowning in Love” made by MonoC, a virtual artist developed by Gusto Collective. MonoC is a virtual metahuman […]

As more countries announce plans for central bank digital currencies, will that break crypto’s promise as the future of money?

North Korea’s foreign affairs ministry wrote on its website Tuesday that the U.S. is behind the claim that the socialist state hacked millions of dollars worth of cryptocurrency. Fast facts The Democratic People’s Republic of Korea (DPRK) warned that it considers the act of spreading rumors about a “non-existent” cryptocurrency theft to be a serious […]

Upcoming digital yuan trial to piggyback on Hong Kong’s popular Faster Payment System for smoother cross-border transactions.

The new token economy offers unparalleled opportunities for content creators, writes Weiwei Geng of Unite.io. Improving user experience will be key.

Decentralized finance has not yet done much real-world good, writes Ben Sheppard. But putting it to work on small infrastructure projects can do just that.

A 30% tax doesn’t legalize cryptocurrencies but exchanges no longer worry about a ban, while investors would pay taxes at twice the rate of other asset gains.

In a first for the country, the Sovereign Yidindji Government in Australia has issued a CBDC with its first transaction occurring this week.

Indian crypto exchanges are experiencing a surge in trading volume since finance minister Nirmala Sitharaman announced a 30% tax on crypto transfers at the budget session of parliament on Tuesday.  Fast facts Binance-owned WazirX’s 24-hour trading volume has soared by 56.26% while its WRX token price jumped 25.3%, as of press time.  The trading volume […]

Meta (formerly Facebook)-backed stablecoin project Diem’s intellectual property and assets have been sold to cryptocurrency bank Silvergate Capital Corporation for US$182 million, both entities confirmed on Monday. Fast facts “[W]e identified a need for a U.S. dollar-backed stablecoin that is regulated and highly scalable to further enable them to move money without barriers,” said Silvergate […]

All eyes will be on Beijing for the upcoming games — will China use the spotlight to officially launch its CBDC?

The Sovereign Yidindji Government (SYG) in northeastern Australia has released a central bank digital currency (CBDC) and a digital ID system on blockchain wallet network MetaMUI. Fast facts The Aboriginal people of Yidindji have lived in the territory for over 60,000 years and in 2014 established the SYG. The SYG and the Australian government, including […]

The recent crypto price plunge has done little to rattle new investors. Are they just buying the dip, or is there more to it? Q9 Capital’s James Quinn explains.

The Bank of Japan’s (BOJ) chief called on the U.S. and Europe to cooperate on creating a global technical standard for a central bank digital currency (CBDC), Reuters reported on Friday.  Fast facts The central bank has not made a decision on the issuance of a CBDC, but has conducted experiments while deliberating on the […]

OpenSea is the world’s largest open marketplace for NFTs. Find out what’s driving everyone there in this Forkast explainer.

CBDCs can increase financial inclusion and prevent crime, according to blockchain expert Tiana Laurence. What’s not to like about state-backed digital money?

The global cryptocurrency market rose along with smaller gains in the broader equity and bond markets in the aftermath of a Federal Reserve Open Market Committee statement Wednesday afternoon that it would leave interest rates untouched at near zero but expects to raise them soon. As the market digested the latest report, prices began trending […]

Mark Lamb of CoinFLEX takes a 20-year view of crypto and predicts ‘infinitely bigger’ growth than imagined today, with stablecoins leading the transformation.

Bitcoin and Ethereum fall below psychologically important levels as rising uncertainty clouds markets. Is the Fed also depressing crypto’s prospects?

A pro basketball player and an ex-banker are aiming for a slam-dunk with a ‘creator first’ content platform. Calaxy co-founder Solo Ceesay explains how.

Microsoft announced on Tuesday a US$68.7 billion acquisition plan of gaming giant Activision Blizzard as part of its reach for the emerging metaverse market. Fast facts “Gaming is the most dynamic and exciting category in entertainment across all platforms today and will play a key role in the development of metaverse platforms,” said Satya Nadella, […]

Savvy cryptocurrency investors now know what the biggest players have long done, writes Michal Cymbalisty of Domination Finance — ‘buying the f* dip!’

The CFTC is asserting greater regulatory powers over the crypto industry than ever before. But does the agency have the statutory backing to do so?