Markets: Bitcoin, Ether little changed after weekend surge; Solana, XRP give back some gains
Bitcoin and Ether prices were little changed in Monday morning trading in Asia. Several of the top 10 non-stablecoin cryptocurrencies took a breather after strong gains over the weekend on the back of signs inflation may have peaked in the U.S.
Crypto lender Hodlnaut’s creditors reject restructuring plan, prefer liquidation: report
Creditors of Singapore-based crypto lending and borrowing platform Hodlnaut have rejected a proposed restructuring plan and wish to liquidate the company.
FTX’s collapse has led to many thinking about how to safeguard their digital assets.
Alameda liquidators get liquidated while consolidating funds on DeFi lending platform Aave
Alameda Research liquidators were liquidated for US$72,000 from an on-chain position on decentralized finance (DeFi) lending platform Aave while trying to consolidate funds
Weekly Market Wrap: Bitcoin rebounds above US$18,000, Ether gains over 13%
Bitcoin rallied above the US$18,000 mark for the first time in nearly a month. Is this the start of a bull run or just another relief rally on the back of easing inflation pressure?
Why is it harder to arrest Terra-Luna founder Do Kwon than FTX’s Sam Bankman-Fried?
South Korea’s attempts to extradite the founder of the collapsed Terra-Luna stablecoin will remain hamstrung while the courts in Seoul dispute the charges against him.
Markets: Bitcoin, Ether trade higher; Solana biggest weekly gainer among top 10 cryptos
Bitcoin and Ether rose in Friday afternoon trading in Asia, along with all other top 10 non-stablecoin cryptocurrencies, after the U.S. posted a 6.5% year-on-year increase in the Consumer Price Index for December, which came in lower than inflation readings in previous months.
Crypto.com announces 20% cut in headcount, cites post-FTX market conditions
Crypto.com will lay off 20% of its workforce, its co-founder and chief executive officer Kris Marszalek said Friday in a Twitter post.
SEC in the U.S. charges Genesis, Gemini with selling unregistered securities
The U.S. Securities and Exchange Commission on Thursday charged cryptocurrency lender Genesis Global Capital and crypto exchange Gemini Trust with offering and selling unregistered securities to retail investors.
Coinbase to cut jobs, shut down most of its cryptocurrency operations in Japan
Coinbase, the world’s second largest cryptocurrency exchange by trade volume, is cutting jobs and closing down most of its operations in Japan.
Markets: Bitcoin, Ether prices jump as U.S. indicator shows inflation pressure is easing
Bitcoin and Ether prices jumped in Friday morning trading in Asia after the December U.S. Consumer Price Index released overnight rose 6.5%.
Bitcoin price rebounds as U.S. inflation cools
Bitcoin rebounded above US$18,000 on Friday as the U.S. consumer price index, rose 6.5% in December, matching expectations and continuing a downtrend from previous months.
Nexo office in Bulgaria raided over fraud, money laundering suspicion
Cryptocurrency lender Nexo’s office in Bulgaria was raided by local authorities on Thursday over suspicion of money laundering, tax offenses, computer fraud and banking without a license.
Can blockchain-based websites give you personal domains to ensure
El Salvador establishes legal framework for all cryptocurrencies
El Salvador has passed landmark legislation that establishes a legal framework for all cryptocurrencies to build on the country’s “first-mover advantage.”
Markets: Bitcoin, Ether rise as investors await US inflation data; Polkadot gains
Bitcoin and Ether rose in Thursday afternoon trading in Asia, along with all other top 10 non-stablecoin cryptocurrencies, as investors anticipate signs of slower inflation in the upcoming Thursday release of the U.S. Consumer Price Index for December.
Shanghai Two Sessions: metaverse development requires stronger supervision
Shanghai Two Sessions’ delegate urges stronger supervision in the metaverse industry, as metaverse fever continues.
Binance obtains approval in Sweden to fuel Europe expansion
Binance, the world’s largest cryptocurrency exchange, has received regulatory approval from the Swedish Financial Supervisory Authority to operate as a financial institution to manage and trade in virtual currency, as part of the exchange’s continuing expansion in Europe.
Binance says it plans to expand hiring by as much as 30% in 2023 as rivals cut jobs
Binance, the world’s largest cryptocurrency exchange by volume, is planning to increase staff by as much as 30% this year.
FTX loses Miami Heat stadium sponsorship
National Basketball Association (NBA) team Miami Heat’s home arena will soon be renamed after a Florida judge ended the naming rights agreement between the bankrupt cryptocurrency exchange, FTX.com, and Miami-Dade County
Bankrupt FTX exchange has recovered US$5 bln worth of ‘liquid’ assets, lawyers say
The names of the crypto exchange’s 9 million customers and creditors will remain sealed from the public for at least three months.
How DeFi can overcome the stench of shitcoins and ponzinomics
DeFi Summer has cooled into Crypto Winter, but with a silver lining — investors are finally asking sensible questions like: ‘Where does the yield come from?’ writes Julian Koh of Ribbon Finance.
Markets: Bitcoin, Ether continue run up ahead of U.S. inflation report; Avalanche surges
Bitcoin and Ether prices rose in Thursday morning trading in Asia along with most other top 10 non-stablecoin cryptocurrencies, continuing almost a week’s run of price gains on signs of slower inflation in the U.S.
CBDCs may drive more funds into DeFi protocols, says Immunefi’s Mitchell Amador
Immunefi founder Mitchell Amador believes the future security risks of CBDCs will highlight the benefits of DeFi.
Hong Kong crypto exchanges to follow same laws as traditional finance
Hong Kong has passed a new licensing regime on for crypto exchanges that will subject providers to the same legislation and rules as traditional finance.
India’s WazirX crypto exchange releases proof of reserves, says 90% of user assets in Binance wallets
Some 90% of user assets at WazirX, India’s largest crypto exchange by volume, are held in wallets at Binance while the remaining 10% are stored in hot and warm wallets, revealed WazirX’s proof of reserves that the company released on Wednesday.
The battle for who gets to regulate cryptocurrencies continues as SEC v. Ripple Labs carry on larger implications for the crypto world.
Thai regulator probes Zipmex crypto exchange amid acquisition: report
Thailand’s Securities and Exchange Commission (SEC) has written to cryptocurrency exchange Zipmex Thailand seeking clarification on whether it has been operating as a digital-asset fund manager without permission, according to a Bloomberg report.
Binance U.S. gets court approval to buy Voyager Digital for US$20 mln
Binance’s U.S. wing has received court approval to buy Voyager Digital’s crypto platform for US$20 million, as part of Voyager’s plan to liquidate in bankruptcy.
Digital Currency Group in spotlight over suspicious fund transfers
Top blockchain and crypto news: DCG under investigation. Lido DAO surges as Ethereum’s Shanghai upgrade looms. Hong Kong burnishes crypto credentials.
Markets: Bitcoin, Ether strengthen; XRP leads gains in top 10 cryptos
Bitcoin and Ethereum prices rose in Wednesday afternoon trading in Asia along with all other top 10 non-stablecoin cryptocurrencies, with XRP leading gains.
India’s CoinSwitch exchange to add non-crypto products amid punishing taxes on digital asset trading
Indian cryptocurrency exchanges faced a flurry of taxes on trading last year that saw volumes across most platforms drop as much as 90%, slashing income from trading fees. What’s a crypto exchange to do? Maybe sell mutual funds?
DCG writes to shareholders to detail finances amid US$900 mln Twitter feud with Winklevoss
Barry Silbert of the Digital Currency Group wrote to shareholders on Tuesday to explain loans from its subsidiary Genesis Global Capital.
Bitcoin named dirtiest crypto of 2022, tops major tokens in carbon emissions: Forex Suggest
A Bitcoin transaction produced close to a metric ton of carbon emissions, while XRP was the most energy-efficient among the top 10 cryptocurrencies by market capitalization last year.
Binance’s BUSD-peg stablecoin has not always been fully collateralized: report
Binance Global, the world’s largest crypto exchange, has acknowledged flaws in its systems that allowed its BNB Smart Chain-based BUSD stablecoin to be under-collateralized by up to US$1 billion on at least three occasions, according to a Wednesday report from Bloomberg.
MetaMask developer ConsenSys to slash 100 or more staffers: report
ConsenSys, the Ethereum software firm behind cryptocurrency wallet MetaMask, is reportedly planning to lay off at least 100 employees.
Markets: Bitcoin, Ether follow U.S. equities higher on view inflation starting to ease despite hawkish Fed
Bitcoin and Ether prices rose in Wednesday morning trading in Asia along with most other top 10 non-stablecoin cryptocurrencies, continuing a strong start to the year on signs inflation is slowing in the U.S.
Coinbase to cut 20% of its remaining workforce
Coinbase, the largest cryptocurrency exchange in the U.S., will be letting go of about 950 employees, or about 20% of its current workforce, as part of “a further restructuring plan,” which is expected to be “substantially complete” by the second quarter of 2023.
Microsoft mulls US$10 bln investment in ChatGPT’s OpenAI
Microsoft is reportedly in talks to place a US$10 billion bet in OpenAI, the company behind ChatGPT
Taylor Swift’s Eras Tour was met with a series of ticketing nightmares as scalpers tried to resell tickets for as high as US$22,000. But could NFTs have solved that problem?
India’s Decimal Point Analytics gets US$750,000 grant funding to develop tokenization solutions
India’s Decimal Point Analytics (DPA), a research and data analytics firm, has received grant funding of up to US$750,000 from The Hashgraph Association, a Switzerland-headquartered non-profit organization, to develop an asset tokenization platform on Hedera’s distributed ledger technology (DLT) network.
Markets: Bitcoin slips, Cardano leads losses in top 10 cryptos
Bitcoin dropped in afternoon trading on Tuesday along with most other top 10 non-stablecoin cryptocurrencies by market capitalization. Ethereum rose further while Dogecoin led gains.
Paycoin seeks reapproval after S.Korea suspends the payments token: report
PayProtocol, the South Korean issuer of payments-focused cryptocurrency Paycoin (PCI), will reapply for a local license to stay in business.
Australian crypto exchange Swyftx to end interest yielding product, cites lack of regulation clarity
Australian crypto exchange Swyftx is ending its crypto-interest earning product Earn on Tuesday due to a “constantly changing regulatory landscape” in the country, according to a company announcement.
Can human psychology help save blockchain gaming?
NFTs in gaming have drawn mixed reactions, including gamer backlash and vitriol. What can the sector do to better meet gamers’ innermost needs?
German government warns of ‘Godfather’ malware targeting banking, crypto apps
Germany said “Godfather” virus generates a fake copy of a banking or crypto app login screen to appropriate a user’s information and steal funds.
Markets: Bitcoin, Ether rise with most of crypto market, Solana posts best start to the year for major token, BNB retreats amid Binance probe
Bitcoin and Ether gained in Tuesday trading in Asia along with most other top 10 non-stablecoin cryptocurrencies, helped by signs inflation pressure is easing in the U.S.
Crypto payments firm Wyre limits withdrawals as it mulls ‘strategic options’ amid market downturn
Wyre Payments, a San Francisco-based crypto payments firm, will implement withdrawal limits for user accounts, it said in a Twitter statement on Jan.7.
Trust and Compliance
Many crypto exchanges are implementing proof of reserves as trust and confidence are becoming two of the biggest watch words in the crypto space, but traditional institutions are also trying to bring the crypto sphere back to health.
Slumdog Millionaire composer A. R. Rahman tunes into metaverse
Indian music composer A. R. Rahman, who won Best Original Score at the Oscars for the movie Slumdog Millionaire, has launched the ‘Katraar’ metaverse platform to promote new music creations and other art forms.
Markets: Bitcoin, Ether extend rise; Cardano leads gains in top 10 cryptos
Bitcoin, Ethereum extended gains in afternoon trade in Asia on Monday along with the top 10 non-stablecoin cryptocurrencies by market capitalization. Cardano rose the most in the last 24 hours, followed by Polygon, BNB and Dogecoin.
Where is the stablecoin market heading in 2023?
FTX’s collapse triggered a stablecoin sell-off, but we will need them to survive the Crypto Winter, writes Vladimir Gorbunov of Choise.com.
Hong Kong pushes ahead with crypto hub plans as tech firms, startups show interest: financial secretary
Hong Kong will continue pushing ahead with the development of the Web 3.0 industry as it aims to become a regional hub for the nascent industry despite the series of collapses of crypto exchanges, said Paul Chan, the city’s financial secretary on Monday.
U.S. subpoenas hedge funds in Binance probe: report
Federal prosecutors have issued subpoenas to several U.S. hedge funds that have dealt with the world’s largest cryptocurrency exchange, Binance Global Inc.
US prosecutors, SEC probes Digital Currency Group: report
U.S. prosecutors and the Securities and Exchange Commission (SEC) have started to investigate cryptocurrency-focused conglomerate Digital Currency Group (DCG), Bloomberg reported on Saturday, citing unnamed sources.
Markets: Bitcoin back above US$17,000; Ether, crypto market extend weekend gains
Bitcoin and Ether rose in Monday morning trading in Asia, rising with the rest of the top 10 non-stablecoin cryptocurrencies by market capitalization, with Cardano and BNB changing the most.
Will crypto’s decentralized application layer boost mass adoption in 2023?
ChainSafe’s Aidan Hyman believes that crypto’s fully decentralized application layer may finally be complete in 2023.
Ripple Decision Soon?
Ripple expects a SEC ruling on a two-year-old suit and what regulations it could bring about.
Crypto exchange Huobi latest firm to slash staff: Reuters
Seychelles-based crypto exchange company Huobi plans to lay off about 20% of its staff, according to a Friday report from Reuters.
CeFi regulation may create an advantage for DeFi, Bitcoin.com CEO says
Dennis Jarvis of Bitcoin.com believes the incoming regulatory crackdown on CeFi may tip the scales in DeFi’s favor next year.
Lido DAO surges 35% over the last week, BitDAO gains 22%: Why?
LDO surged as Ethereum’s upcoming March upgrade is expected to resolve current risks in ETH staking. BitDAO also gained with its buyback plan.
Markets: Bitcoin, Ether slip; Cardano extends gains
Bitcoin and Ether dipped in Friday afternoon trading in Asia, with nearly all other top 10 non-stablecoin cryptocurrencies slipping. Dogecoin was the biggest loser, while Cardano’s ADA was the sole gainer in the top 10 cryptos.
SEC objects to Binance’s US$1 bln deal to buy Voyager Digital’s assets
The U.S. SEC has objected to Binance’s U.S. affiliate’s proposed US$1 billion purchase of bankrupt crypto lender Voyager Digital’s assets.
Hong Kong lawmaker says e-HKD has potential to be a stablecoin
Hong Kong should make efforts to encourage the establishment of virtual assets rating agencies, and consider developing the e-HKD, the city’s central bank digital currency in the works, into a stablecoin, a Hong Kong lawmaker said in a recent media interview.
Animoca Brands slashes Web3 fund target to US$1B: Bloomberg
Animoca Brands Corp. has scaled down the target amount for its Web 3.0 and metaverse investment fund to US$1 billion.
Digital Currency Group shuts down wealth management unit: report
Cryptocurrency-focused conglomerate Digital Currency Group (DCG) is shutting down its wealth management unit called HQ, CoinDesk, a DCG-owned media outlet, reported on Friday.
Markets: Bitcoin, Ether little changed; Polygon, XRP lead losers; Cardano holds onto gains
Bitcoin and Ether traded little changed Friday morning in Asia, with most other top 10 non-stablecoin cryptocurrencies losing ground.
NFT December sales surge to highest since June amid ‘tax-loss harvesting’
Slump in prices of some non-fungible tokens and other digital assets allows U.S. holders to take advantage of a loophole to reduce capital gains taxes.
Silvergate cuts 40% of staff after facing US$8.1B in withdrawals amid FTX collapse
Cryptocurrency bank Silvergate Capital has laid off 40% of its staff, or about 200 employees, after the collapse of FTX.com, which sparked mass withdrawals of around US$8.1 billion.
India’s Crypto Outlook
WazirX VP Rajagopal Menon sits down with Forkast to provide some insight as survival becomes a huge concern for crypto exchanges in India.
Markets: Bitcoin slips, Ether unchanged, Dogecoin gains most among top 10 coins
Bitcoin edged down and Ether remained unchanged on the day, in Thursday afternoon trading in Asia. Dogecoin was the biggest gainer among the top 10 non-stablecoin cryptocurrencies, while Litecoin recorded the largest loss.
Crypto P2E game investments not protected by law, China court says
A Shanghai court ruled that investments in cryptocurrency-powered play-to-earn (P2E) games are not protected by law in China.