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Israel confiscates suspicious Binance accounts allegedly linked to Islamic State: Reuters

Binance says it works closely with law enforcement to freeze funds and the news agency’s report left out “critical facts.”

What JPMorgan’s First Republic takeover means for the crypto industry

Top blockchain and crypto news: JPMorgan swoops as another bank falls. NFT market rivalry heats up. Bitget seeks Hong Kong exchange license.

Bitcoin, Ether rise; ADA is day’s biggest gainer; investors await European Central Bank’s interest rate decision 

Bitcoin and Ether rose in Thursday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Cardano’s ADA token saw the day’s biggest gains.

Bitcoin back above $29,000, Ether gains; Matic leads winners on Polygon tools update

Bitcoin and Ether rose in early Thursday morning trading in Asia, with most other top 10 non-stablecoin cryptocurrencies mixed.

Fed hikes rates by a quarter point, Bitcoin drops 0.48%

Bitcoin, the largest cryptocurrency by market capitalization, dropped 0.48% on Thursday, Hong Kong time, after the Federal Reserve’s Federal Open Market Committee said it would raise interest rates by 25 basis points, as widely expected. The latest rate bump brings the target range to 5%-5.25%, the highest since September 2007. See related story: Bitcoin, Ether, […]

Bitcoin, Ether gain most among top 10 cryptos; U.S. stock futures mixed ahead of Fed’s rate decision 

Bitcoin gained 2.18% in 24 hours while Ether rose 1.67%.
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Crypto miner Bitdeer expands to Bhutan, partners state-owned investment arm

Singapore-headquartered cryptocurrency miner Bitdeer Technologies is planning to expand its mining operations to Bhutan and raise up to US$500 million for a fund through a new partnership with the Himalayan kingdom’s state-owned investment company Druk Holding and Investments.

Coinbase opens Bermuda-based crypto derivatives exchange amid conflict with U.S. regulators

Coinbase, the publicly listed largest cryptocurrency exchange in the U.S., opened its offshore derivatives exchange in Bermuda on Tuesday.

Biden administration pushes for 30% electricity tax in swipe at crypto miners

The administration of U.S. President Joe Biden is campaigning for a tax on cryptocurrency miners equal to 30% of the cost of the power they use, citing what it calls “negative spillovers” from the industry.

Bitcoin, Ether, Litecoin rise, BNB stumbles; US equity futures flat ahead of Fed interest rate decision

Bitcoin and Ether gained ground in Wednesday morning trading in Asia, with most other top 10 tokens mixed. Litecoin gained, BNB was the biggest loser.

Bitcoin inscriptions: Are Ordinals a boon or a drag on the network?

Now that the Bitcoin Ordinals genie is out of the bottle, a debate is raging about whether they’re good for the original blockchain and their long-term consequences.

Temasek denies investment in algorithmic crypto developer Array

Temasek, Singapore’s state-owned investment firm, has denied that it had invested in Array, an algorithmic cryptocurrency developer.

Bitcoin, Ether drop; BNB, Polkadot biggest losers in top 10 cryptos; U.S. stock futures weaken

Bitcoin dropped 2.09% in Tuesday afternoon trade in Asia while Ether lost 0.81%. BNB fell 2.93% and Polkadot declined 2.66%.
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Sotheby’s launches NFT marketplace for transactions on Ethereum, Polygon networks

Sotheby’s, which accounts for 24% of global art auction sales, has launched an online secondary marketplace for its curated NFTs as the 279-year-old auction house for fine art expands its push into digital assets.

Bitcoin, Ether lose ground; Polkadot leads losers among top 10; U.S. equity futures slip

Bitcoin dipped to US$28,000 in Tuesday morning trading in Asia and then fell through that support line later in the morning. Ether and other top 10 cryptocurrencies also fell.

Securities or not, crypto in the US needs new regulations and clearer guidance

CFTC and SEC disagree over whether cryptocurrencies are securities, and two big lawsuits clouding the industry’s future invoke laws that long predate the digital era.
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Bitget crypto exchange still hiring, eyes Hong Kong license, to rebrand BitKeep wallet

Seychelles-based cryptocurrency exchange Bitget expects more clarity on Hong Kong’s licensing regime from June as the city pushes ahead with plans to attract blockchain and cryptocurrency entrepreneurs.

Bitcoin, Ether fall amid renewed banking sector concerns; BNB is sole gainer in top 10 cryptos

Bitcoin dropped below US$29,000, while Ether fell below US$1,900 on Monday afternoon in Asia. Binance’s BNB was the only token in the top 10 cryptocurrencies to rise.

Why layer 3 is critical to innovation and blockchain’s future

How would layer 3 improve upon what layer-2 protocols do, and what barriers does this emerging technology still need to overcome? Tony Cheng of Foresight Ventures explains.

Bitcoin up on bank jitters, price forecasts; Ether dips, U.S. equity futures flat

Bitcoin edged up on Monday morning in Asia to hold above US$29,000. Ether fell below US$1,900. Most other top 10 non-stablecoin tokens traded lower except BNB.

Coinbase says SEC’s legal threats punish transparency, undermine public listing process

Coinbase said the Securities and Exchange Commission seems to be undermining its own role as the monitor of companies registering to sell shares to the public

Weekly Market Wrap: Bitcoin flirts with US$30,000, Ether regains US$1,900

Bitcoin rebounded from US$27,000 multiple times this week. Uncertainty over U.S. regulation and geopolitical tensions may continue weighing on the crypto market, industry experts told Forkast.

Bitcoin, Ether rise amid renewed recession fears after weaker-than-expected U.S. GDP

Bitcoin and Ether rose during Asian trading hours on Friday, while the top 10 non-stablecoin cryptocurrencies by market capitalization closed mixed. The SOL token saw the biggest gain. Asian equity markets strengthened after the Chinese central bank boosted short-term cash injections for the 11th day.

HKMA urges local banks to provide services to regulated digital asset firms

Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority, urged local lenders to provide banking services to regulated crypto firms.

Binance says it built 700-member compliance team to handle crypto crime, legal enquiries

Binance said it has more than 700 employees in its compliance team, which includes 170 staff working to combat crypto fraud.

Bitcoin gains after week of bank turbulence, Ether dips, U.S. equity futures lose steam

Bitcoin rose on Friday morning in Asia amid worries about U.S. banks and a possible recession. Ether edged lower. along with most other top 10 tokens.

What the US stands to lose if it keeps heaping scorn on crypto

The current US approach to regulating crypto flies against its history of supporting tech innovation and undermines its own national interest, writes Hamilton Keats of Krayon Digital.

Polygon developers get access to Google Cloud’s node service

Google Cloud has announced that its node hosting service, the Blockchain Node Engine, will be available for developers on the Polygon blockchain. 

Coinbase sues SEC in bid for clarity on crypto rules

Top blockchain and crypto news: Coinbase in court to force SEC’s hand. PEPE surge lifts memecoin mood. China paves CBDC path with payroll.

Bitcoin, Ether inch up; equities strengthen after phone call between China’s Xi Jinping, Ukraine’s Zelensky

Bitcoin and Ether rose during Asian trading hours on Thursday, while most top 10 non-stablecoin cryptocurrencies by market capitalization declined. Cardano’s ADA token saw the biggest gain.

Hong Kong’s SFC to release crypto exchange licensing guidelines in May: Bloomberg

Hong Kong’s Web3 industry can look forward to more regulatory clarity, with the city set to release its cryptocurrency exchange licensing framework in May

Investment bank H.C. Wainwright says ‘crypto winter over,’ rates Coinbase a ‘buy’

New York-based investment bank H.C. Wainwright has initiated a “buy” rating on publicly traded Coinbase Global Inc., the largest cryptocurrency exchange in the U.S., saying the company is poised to benefit from growth in the global digital asset economy as the so-called “crypto winter” of falling prices is over.

Bitcoin, Ether rebound after early morning fall; U.S. equity futures gain on Meta outlook

Bitcoin rose above US$29,000 on Thursday morning in Asia, rebounding from an earlier drop. Ether gained. Other top 10 non-stablecoin tokens traded mixed.

Mythical Games CEO says U.S. regulatory uncertainty accounted for firm’s conservative stance on crypto

The lack of clarity in crypto rules in the U.S. not only affects exchanges but also this U.S.-based blockchain gaming company, John Linden said.

US response to crypto is like ‘deer caught in headlights,’ says ex-CFTC chair

Christopher Giancarlo, the former chair of the CFTC, said the U.S. is resisting cryptocurrency innovation due to its threat to vested interests in the financial system.

Bitcoin, Ether, top 10 cryptos rise; Asian equity markets mixed

Bitcoin and Ether rose on Wednesday trade in Asia, along with all top 10 non-stablecoin cryptocurrencies, with Solana and Cardano leading the way.
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Binance.US cites ‘hostile’ regulator, yanks US$1.3 billion deal to buy Voyager Digital

Binance.US, a cryptocurrency exchange set up by Binance chief Changpeng Zhao to serve U.S. clients, has pulled out of a US$1.3 billion deal to buy bankrupt crypto lender Voyager Digital, the company said Tuesday, citing a lack of clear regulations in the country for the crypto industry.

Bitcoin bounces back to US$28,000, Ether gains; U.S. equity futures up on tech earnings

Bitcoin rose in Wednesday morning trading in Asia to reclaim the US$28,000 mark, with Ether and all other top 10 non-stablecoin cryptocurrencies moving higher.

Declaring proof of reserves is important, but it’s not enough

‘Proof of reserve’ is the new catchphrase and promise by crypto leaders eager to allay investor fears. But loopholes remain and audits might not mean what you think, writes Anndy Lian.

Bitcoin, all top 10 cryptos fall; Asian equity markets drop on rising Covid fears

Bitcoin fell in Tuesday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies. Polygon was the biggest loser followed by Solana.
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South Korea indicts Terra co-founder Daniel Shin; Shin rejects accusations

South Korean prosecutors on Tuesday indicted Terraform Labs co-founder Daniel Shin for alleged fraudulent transactions related to the collapse of the Terra-Luna crypto project.

CoinShares says weekly investment in Ethereum-linked products rebounds after hard fork

Ethereum-linked digital asset investment products saw inflows of around US$17 million in the week ending April 21, up from US$300,000 in the previous week, appearing to show investor confidence following the blockchain’s milestone upgrade, Coinshares report shows.

Coinbase ups the ante with SEC, asking court to require crypto clarity from regulator

Coinbase sued the U.S. SEC on Monday, asking that a court require the regulator to publicly respond to the Coinbase July 2022 petition asking for clearer crypto regulation guidelines. 

Bitcoin loses ground, Ether dips even as inflows rise; Litecoin edges up, with halving cited

Bitcoin fell below US$27,500 support on Tuesday morning in Asia. Ether and most other top 10 tokens traded lower amid a broader correction.

Until Web3 offers a better user experience, the masses will stay away

People won’t want to bother with a new technology if it’s painful to use, even if they’re aware of the potential benefits, writes Toby Rush of Redeem.

Japan’s Web3 pivot needs global mindset, flexibility to succeed, says incubator founder

Japan’s welcome mat for Web3 is shifting the tone from “buzzword” to opportunity, but success will hinge on the authorities adopting a global, flexible view toward this new technology, says Yudai Suzuki, co-founder of Fracton Ventures.

Russia is 2nd biggest Bitcoin miner after U.S.: report 

Russia is now the second largest Bitcoin miner after the U.S., according to a report by Russian media Kommersant. 

Bitcoin extends drop, stays below US$28,000; Solana, Polygon leads losers in top 10 cryptos

Bitcoin extended losses in Monday afternoon trade in Asia, along with all top 10 non-stablecoin cryptocurrencies by market capitalization, with Solana and Polygon as the biggest losers.
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Crypto leaders need to collaborate with regulators more — for the industry’s own good

A clear and balanced legal framework will encourage more crypto investment, while the industry can promote best practices, writes Mahin Gupta of Liminal.

Terraform Labs Kwon to get Montenegro court hearing May 11 on passport forgery charges

Kwon Do-hyeong will have a court hearing on May 11 in Montenegro on charges of allegedly attempting to travel using a false passport.

Bitcoin, Ether gain, but hold losses for the week; U.S. equity futures lose ground

Bitcoin rose on Monday morning in Asia but was boxed in below US$28,000. Ether and most other top 10 tokens gained, but not by enough to erase losses for the past week.

Weekly Market Wrap: Can Bitcoin float above US$27,500 after sinking below US$30,000?

Bitcoin fell to US$28,000 in the same week the European Parliament passed its landmark crypto framework. Industry analysts told Forkast that holding US$27,500 will be crucial for Bitcoin in order to spark an upward momentum.

Abu Dhabi calls for feedback on proposed legal framework for decentralized economy: CoinDesk

The UAE’s registration authority of Abu Dhabi Global Market is seeking feedback on its proposed legislative framework for distributed ledger technology, which will focus on disclosures, liquidation, and governance structures, according to a report by CoinDesk

Do Kwon: The Rise & Fall

Do Kwon has been charged by Montenegrin authorities for attempting to travel with forged documents as the US and South Korea race to extradite him.

Bitcoin, Ether decline; equities fall amid U.S.-China tension

Bitcoin and Ether fell by the end of Asian trading hours on Friday afternoon, together with all top 10 non-stablecoin cryptocurrencies by market capitalization apart from the BNB token. Asian equities declined along with U.S. futures, amid mounting political pressure between China and the U.S. Fast facts See related article: EU green lights MICA but […]

Sotheby’s to auction off NFTs owned by defunct hedge fund Three Arrows Capital

Leading auction house Sotheby’s said it will sell NFT artworks owned by the bankrupt crypto hedge fund Three Arrows Capital.

Bitcoin falls to near US$28,000, Ether flat, U.S. equities slide on rate hike worries

Bitcoin fell to near US$28,000 on Friday morning in Asia, with Ether trading flat and most other top 10 non-stablecoin tokens losing steam.

From billionaire to Montenegro jail: The rapid rise and fall of Terra chief Do Kwon

South Korea’s Do Kwon went from a poster boy of digital finance as a co-founder of the US$40 billion Singapore-based Terraform Labs to a fugitive on Interpol’s wanted list, all in a matter of several rollercoaster years. He’s now in a Montenegro jail where he may face more time in detention as the U.S. and South Korea demand his extradition to face a long list of charges, including securities fraud – allegations he has repeatedly denied. The following is a timeline of how we got here.

Bittrex in SEC’s crosshairs as compliance lawsuits keep coming

Top blockchain and crypto news: Bittrex in SEC line of fire. Bored Apes fall after whale sale. Chinese banks court crypto clients.

Bitcoin trades below US$29,000, Ether slips, as market eyes Europe’s MiCA vote

Bitcoin and Ether fell during afternoon trading hours in Asia on Thursday, while most other top 10 non-stablecoin cryptocurrencies by market capitalization strengthened. Crypto investors were cautious ahead of Europe’s vote on the Markets in Crypto Assets (MiCA) bill.

Crypto miner Bitdeer falls 35% since Nasdaq debut, reports net loss in 2022

Shares of Singapore-based cryptocurrency miner Bitdeer have slid more than 35% since their Nasdaq debut on April 14, and were trading at US$6.41 at closing on Wednesday.

Bitcoin falls below US$29,000, Ether slumps, U.S. equities stall on inflation concerns

Bitcoin slid below the US$29,000 mark on Thursday morning in Asia. Ether lost hold of US$2,000 in a sell-off across all top 10 non-stablecoin tokens.

Hong Kong court deems crypto as property, in ruling on defunct exchange Gatecoin

Hong Kong’s High Court has recognized cryptocurrency as property in a March 31 landmark ruling in a legal tussle involving defunct crypto exchange Gatecoin

US chip giant Intel abandons Bitcoin ASIC production

Intel has announced it would shut down its Bitcoin mining chip production a year after launch.

Bitcoin gains, holds above US$30,000; Solana, BNB biggest losers in top 10 cryptos

Bitcoin rose and traded above US$30,000 on Wednesday afternoon in Asia, while Ether fell along with most top 10 non-stablecoin cryptocurrencies by market capitalization. Solana lost the most, followed by Binance’s BNB token.
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U.K. could push out crypto regulation within a year: lawmaker Andrew Griffith

The U.K. could see digital asset regulation in the next 12 months as part of a push to turn the nation into a hub for digital assets, said economic secretary to the Treasury, Andrew Griffith

Bitcoin to peak at US$42,000 in 2023, end the year above US$35,000: Finder survey

Bitcoin is expected to hit a high of US$42,225 in 2023 and close the year around US$35,485, according to a survey by Finder.

Bitcoin reclaims US$30,000, Ether heads higher after grilling of SEC’s Gensler; Polkadot leads winners

Bitcoin rebounded above US$30,000 on Wednesday morning in Asia. All top 10 tokens rose after SEC chair Gary Gensler was criticized at a congressional hearing for his approach to digital assets.

The true cost of zero-fee crypto trading is anything but zero

Nothing in life is free. Be wary of crypto exchanges that offer ‘free trading,’ and ask hard questions about how they make money, writes Ben Caselin of MaskEX.

SEC’s Gary Gensler dodges question on whether Ethereum is a security

SEC Chair Gary Gensler did not give a direct answer when asked whether Ether is a security or a commodity at a congressional oversight hearing on Tuesday. 

Bitcoin slips, Ether inches above US$2,100

Bitcoin dropped on Tuesday afternoon in Asia but remained above US$29,000, while Ether and most top 10 non-stablecoin cryptocurrencies gained. Dogecoin and Solana fell on the day and rose on the week.
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Bitcoin hovers under US$29,500 level; Dogecoin gains

Welcome to The Daily Forkast – April 18, 2023 – presented by Megha Chaddah. Bitcoin and other major cryptocurrencies slipped in early morning Asia time. Meanwhile, Dogecoin shrugged off the overall down market, gaining almost 3% as sentiment around the memecoin got a lift after Twitter – led by Dogecoin fan Elon Musk – officially […]