Search results: Wallet

Working with Chinese blockchain Conflux, McDonald’s China has launched its first NFT to commemorate its 31st anniversary in the Chinese mainland market and the official opening of its new headquarters in Shanghai. The NFT, “Big Mac Cube,” is a three-dimensional digital token inspired by McDonald’s branding and the shape of its new headquarters building.  Fast […]

The Postal Savings Bank of China has become one of the appointed research and development institutions for the electronic Chinese yuan (e-CNY), allowing the bank to hold a first-mover advantage in the competition for position in China’s electronic payments market, its owner, the state-owned China Post Group, said in an article. Fast facts The bank […]

According to a Shenzhen state-owned newspaper, Shenzhen now has nearly 120,000 e-CNY pilot program application scenarios, ranking first in the country. Fast facts In October last year, Hong Kong’s neighboring city, Shenzhen, became the first e-CNY pilot city, which rolled out the first batch of 50,000 e-CNY red packets with a total value of 10 […]

As South Korea’s ongoing efforts at regulating cryptocurrency continues, a top financial services official said DeFi (decentralized finance) businesses need legal review before they are officially recognized as providers of financial services such as loan-for-consumption. Fast facts At the National Assembly’s annual review, lawmaker Oh Gi-hyoung, member of the National Policy Committee, asked Jeong Eun-bo, Korea’s Financial […]

Officials are concerned that many investors may not be aware crypto trading is taxed in a similar way to share trading.

MetaMask Institutional (MMI), the version of the MetaMask decentralized finance (DeFi) wallet for institutions, today announced its partnership with digital assets custodians U.S.-based BitGo, British Virgin Islands-headquartered Qredo, and Hong Kong-based Cactus Custody to facilitate companies seeking access to DeFi. Fast facts The partnership comes amid growing institutional interest in DeFi and aims to address […]

Korea crypto tax pause called for meanwhile Tiktok jumps into NFTs

Much of the growth in the region is driven by strong grassroots adoption rates led by Vietnam, India and Pakistan, new data from Chainalysis shows

In a special Q&A, a Canadian law advisor who works with Chinese clients breaks down the ban’s potential legal boundaries and concerns held by overseas Chinese.

Chinese social media has been abuzz since authorities lowered the boom on crypto. Forkast.News has been following the chatter. Here’s what they’re saying on Weibo, the Chinese equivalent of Twitter.

Top blockchain and cryptocurrency news: Beijing’s crypto crusade comes to a head. Chinese mining caves in. Mr. Goxx reaps robust returns.

Amid China’s new clampdown, why is DeFi surging and the RMB-to-crypto market important? Sam Bankman-Fried analyzes what it all means and why FTX is leaving Hong Kong for a new home.

Huobi’s diversified businesses outside of China reached nearly 70% in terms of trading volumes, and have been on the rise, its co-founder tells Forkast.News.

China’s intensified crackdown on cryptocurrency leaves service providers looking to stay compliant with Friday’s abrupt announcement.

How is China’s latest clampdown on crypto different from its previous bans — and how do authorities plan to catch the scofflaws? Henri Arslanian of PwC breaks it down.

Is China’s influence over Bitcoin and the global crypto market waning? Chinese exchanges get a thrashing as decentralized exchanges get happy on clampdown news.

China’s hardline stance against crypto is already rippling beyond its borders. A mainland crypto insider explains the global shakeup yet to come.

A profound shift is underway in online culture, writes Anndy Lian of BigOne Exchange. Here’s how decentralized finance might one day power the NFT and metaverse economy.

D-day for Korean crypto exchanges meanwhile e-CNY project speeds up

While a US digital dollar is stuck at pole position, China’s digital yuan is nearing the finish line. Michael B. Greenwald of Tiedemann Advisors explains why it matters to the future global economy.  

China may be a small step closer to internationalizing the yuan, though its central bank says the e-CNY is now mostly tested for domestic use.

Survey shows growing consensus on adoption, investment and use cases. ‘Blockchain is here to stay.’

Cobo, a Singapore-based crypto custody and asset management platform, today announced the completion of its US$40 million Series B fundraise to accelerate the rollout of its decentralized finance (DeFi) as a service (DaaS) product. Fast facts In an interview, Cobo Chief Operating Officer Lily Zhuo told Forkast.News that Cobo’s DeFi as a service (DaaS) product, […]

Decentralized finance platform Vee Finance, which is based on the Avalanche blockchain, has suffered from a hack that saw the loss of Ether and Bitcoin tokens worth US$35 million, the lending platform announced on Tuesday. Fast facts Vee Finance suspended the platform’s contracts as well as its deposit and borrow function to protect user assets […]

Audius is enjoying outsized buzz. Should Spotify be scared? In this Forkast.News explainer, learn how this blockchain startup could threaten music industry money — and power.

Blockchain and parametric insurance offer a bigger safety net for the world’s most vulnerable, writes Jan Stockhausen of Etherisc. Here’s how it works.

Black Friday for Korean exchanges while E-CNY launch in final stretch

Most banks distance themselves from virtual asset platforms as the country’s central bank lobbies for a ban.

Digital yuan expected to undergo its first crucial international test despite concerns it can be used as a surveillance tool.

It’s hot on Bitcoin Beach and the Twitterverse, but the new legal tender doesn’t have uptake elsewhere in the Central American country.

What is quadratic funding, and why is this mathematical method ideal for allocating capital for a community? Pranav Sharma of Woodstock Fund explains.

Canaan reports record revenues meanwhile Korea says no to crypto tax delay

As the trading volume in non-fungible tokens begins to slow down from recent record heights, leading NFT marketplace OpenSea has been rocked by an insider trading scandal involving a senior team member. Fast facts The company, dubbed “the eBay of NFTs,” issued a statement yesterday acknowledging it became aware on Tuesday that an employee had […]

FTX hit by hack rumor meanwhile Korea updates crypto death note

Scams and fake news have long dogged the crypto world. This week saw two major blockchain companies and a global retailer get swept up by hack rumors or hoaxes.

E-CNY problems to be solved, also China sees warning over NFT hype

A few altcoins managed to stand out coming into the working week as Solana’s tear comes to an end.

In this Forkast.News explainer, learn why blockchains with smart contract capability are surging in popularity and the new darlings of investors.

PBOC still working out regulatory rules, acceptance environments and payment systems.

Why is Axie Infinity so popular, and what is the potential of play-to-earn gaming? Two venture capitalists share insights on Asia’s special place as GameFi’s hub.

A Canadian-American citizen, who laundered tens of millions of dollars for cybercriminals including North Korea’s military intelligence agency hackers, has been sentenced to 11 years in prison, the U.S. Department of Justice announced. Fast facts Ghaleb Alaumary, 36, pleaded guilty to money laundering in 2020 and has been asked to pay US$30 million in restitution […]

El Salvador’s Bitcoin embrace may be a domino for some emerging markets, but a fierce rival to the BTC is also coming to the fore.

Top blockchain and cryptocurrency news: El Salvador’s BTC experiment. EthereumMax and the power of celebrity. Hong Kong shores up regulatory oversight.

What are the different kinds of blockchain, and how do they compare? Learn all about public, private and permissioned platforms in this Forkast.News explainer.

The Central American nation opens up the next chapter in the history of the world’s biggest cryptocurrency.

In China, over 20 publicly listed companies have disclosed they are bringing to market e-CNY-related services and products, such as hardware wallets, a digital yuan payment system for schools, and a mobile phone SIM card that can pay for bike rentals with digital yuan at the tap of a phone, according to a report by […]

Charles Randell, chairman of the U.K.’s Financial Conduct Authority and chair of the Payments Systems Regulator, singled out celebrity influencer Kim Kardashian in his latest speech for endorsing a relatively unknown and unregulated token. Fast facts In June, Kardashian endorsed EthereumMax, a project launched by unknown developers in May 2021. Kardashian, wife of rapper Kanye […]

Gajesh Naik and Laya Mathikshara, two Indian 13-year-olds, are getting global recognition — and making astronomical sums — through their ventures in crypto and NFTs.

TokenSociety.io, a non-fungible token minting platform and marketplace for the entertainment industry, has completed its first NFT Drop for the pilot episode of “Men of the House,” a situation comedy TV series, the company announced today. Fast facts The pilot episode of “Men of the House” is completely financed through the sale of its NFTs […]

The veil of uncertainty that has shrouded crypto regulatory discussions seems to be lifting, but how the government will regulate and tax digital money remains to be seen.

India crypto exchanges allow bank deposits while FTT token on a roll

Donkey, launched Sept. 1, aims to become a DeFi service that brings more South Korean investors into decentralized finance by making their favorite cryptos more scalable and available. Fast facts Donkey is a virtual asset deposit and lending protocol that runs on the Ethereum blockchain where anyone can deposit crypto as collateral and borrow other […]

The United States, Vietnam, Thailand, China and the United Kingdom lead global adoption in decentralized finance (DeFi), according to Chainalysis’ Global DeFi Adoption Index published this month. Fast facts “While grassroots cryptocurrency adoption generally is highest in emerging markets, DeFi adoption is strongest in high-income countries that already had substantial cryptocurrency usage, especially amongst traders […]

Top blockchain and crypto news: Does TBD stand for Twitter Boss Decision? NFTs’ ballooning interest. How billions in e-yuan are coursing through China.

The multiplayer online role-playing game is widely popular elsewhere, while Korea bans play-to-earn crypto and NFT trading.

A week out from El Salvador’s adoption of BTC as legal tender, the country’s legislative assembly has approved a US$150 million trust to help facilitate exchange between BTC and the U.S. dollar – the nation’s current official currency, according to a report by local newspaper El Diario de Hoy. Fast facts Last week, Forkast.News reported […]

FOMO Pay, a Singapore-based fintech company, announced today that it has obtained a license from the Monetary Authority of Singapore (MAS) to provide Digital Payment Token Service — the first such approval out of 170 applicants for the city-state that is rapidly becoming a global crypto hub. Fast facts FOMO Pay said it had been […]

MetaMask, a non-custodial wallet that allows users to interact with the Ethereum blockchain and Ethereum-compatible networks such as Polygon, has seen its monthly active users surge over 1,800% in the past year to surpass 10 million, according to ConsenSys, an Ethereum blockchain software developer. Fast facts Alongside the explosive growth of the Ethereum ecosystem from […]

Nigeria, a country with one of the world’s highest cryptocurrency adoption rates, is moving ahead with its plan for a central bank digital currency pilot project called Project Giant. The Central Bank of Nigeria has selected Bitt Inc., a Barbados-based fintech startup, as its technical partner for the project, which is scheduled to launch on […]

Though crypto is not yet part of daily life, it may be a matter of time, writes Simon Yu of StormX. Here are the keys to the industry’s long-term success.

Korea’s love for crypto continues while Crypto exchange Bilaxy hacked

The 20th hijack this month, after Poly Network, Solend and Liquid.

Tens of billions in digital yuan circulate through the banks’ systems, as leaders encourage wider adoption.

A network patch designed to fix a bug on the Geth network has led to the world’s second-largest blockchain splitting in two.

Jack Dorsey, CEO of tech giants Square and Twitter, announced on Friday that Square’s new decentralized finance division, TBD, plans to build a decentralized Bitcoin exchange. Fast facts “We’ve determined TBD’s direction: help us build an open platform to create a decentralized exchange for Bitcoin,” he tweeted. Project lead for TBD Mike Brock also tweeted […]

What is the relationship between crypto assets and stock prices? An analysis week’s market trends.

Anyone who owns a website is now able to receive crypto payments directly to their domain name, as Ethereum Name Service announces full integration with the centralized web. Fast facts Making the announcement on Twitter Friday morning, the new upgrade will bring interoperability between the centralized web and the blockchain-based ENS system. The internet currently […]

In a special Q&A, an Antinalysis spokesperson reveals the source of the company’s controversial data and disputes that it’s for criminals. ‘Privacy is a human right.’

Korea reveals crypto exchange ‘Death Note’: DeFi investment booms

In the latest from the world’s third-largest cryptocurrency, which has gone from strength to strength this month, the Cardano Foundation is partnering with blockchain analytics provider Coinfirm.io to ensure the network complies with the Financial Action Task Force’s guidelines. Fast facts In a company announcement this week, the Cardano Foundation said it would be using […]

While the funds stolen in last week’s cyberattack on Liquid are yet to be returned, the Japanese exchange has secured a US$120 million loan from fellow exchange FTX to cover losses. Fast facts Sam Bankman-Fried, the billionaire CEO of Hong-Kong based FTX, took to Twitter to make the announcement, saying he had always admired Liquid’s […]

In preparation for El Salvador adopting Bitcoin as legal tender, the nation is rolling out 200 ATMs and preparing 50 bank branches across the nation to allow residents to exchange crypto for fiat easily, President Nayib Bukele has announced over the weekend via Twitter. Fast facts With El Salvador’s Bitcoin adoption bill coming into effect […]