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Bitcoin stays above US$30,000; ETF optimism dampens; further rate hikes expected

Bitcoin dipped on Monday morning in Asia but held above the US$30,000 support level. Ether edged lower along with most other top 10 non-stablecoin tokens.

South Korea, Singapore, Thailand clarify crypto rules as U.S. in state of regulatory ‘warfare’

While Asia nations such as Singapore and Thailand seem to be following the U.S. regulator in frowning upon certain products offered by crypto exchanges, the approach in Asia so far seems to be clarity instead of court battles, in contrast with North America
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Japanese gaming firm Sega backs out of blockchain: Bloomberg

Japanese multinational gaming firm Sega Corp. is withdrawing from blockchain-based games as play-to-earn games are “boring,” according to Shuji Utsumi, the company’s co-chief operating officer cited by Bloomberg on Friday. 

Singapore, Thailand clarify crypto rules; NFTs become new cultural frontier

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Weekly Market Wrap: Bitcoin holds above US$30,000; SEC officially silent over spot Bitcoin ETF applications

Bitcoin held above US$30,000 for most of the week but lost momentum as the SEC left investors guessing on how it will treat spot Bitcoin ETF applications.

Bitcoin rises back to US$30,000, Ether remains under US$1,900, top cryptos in the red

Crypto buying subsided as the U.S. regulator made no official comment on Bitcoin exchange-traded fund (ETF) applications and executives quit Binance, the world’s largest crypto exchange.

Tokenization makes the world a better place, and Asia is paving the way: Opinion

Hong Kong, Japan, Singapore and Thailand have regulations supporting the growth of tokenization, showing the world the benefits of fractionalizing assets.
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Binance executives Hillman, Christie say they are leaving, cite personal reasons

Binance Chief Strategy Officer Patrick Hillmann and Vice President for Compliance Steven Christie both confirmed they are leaving the firm.

Bitcoin loses US$30,000 peg, Ether falls as risk-off sentiment spreads to cryptocurrencies

Bitcoin fell below US$30,000 on Friday morning in Asia as traders took profits amid worries about interest rate hikes in U.S. markets.

Cardano ‘ghost chain’ outperforms top blockchains in NFT market

Despite a plunge in unique NFT buyers on Cardano, which earned it the nickname “ghost chain,” data reveals that the blockchain’s NFT market outperformed leading competitors such as Ethereum, Solana, and Polygon in June.

No surprise as Singapore, Thailand step up crypto regulation

Southeast Asia steps up regulation. No end in sight for NFT market decline. Voyager’s shrinking portfolio.

Bitcoin, Ether rise, top cryptos mixed, as investors await SEC response to Bitcoin ETF applications

Bitcoin and Ether rose during Thursday afternoon trading in Hong Kong, while most of the top altcoins were mixed, as investors await the U.S. Securities and Exchange Commission’s (SEC) response to spot Bitcoin ETF applications. See related article: Weekly Market Wrap: Bitcoin breaches US$31,195 following Fidelity’s spot Bitcoin ETF application Bitcoin, Ether rise, top 10 […]

Bitcoin, Ether, all other top 10 cryptocurrencies fall; Litecoin leads losers with Cardano

Bitcoin, Ether fell along with all top 10 cryptocurrencies. Litecoin and Cardano led the losers. The Forkast 500 NFT index rose, but NFT mood is pessimistic.

The NFT market’s historic new lows

NFT market recovers after Azuki’s Elementals mint debacle as traders report liquidity issues amidst price tumble.

Singapore’s DBS starts e-CNY bank services for China clients

Singapore-based DBS bank has introduced a “merchant collection solution” using e-CNY – China’s central bank digital currency – to allow corporate clients of DBS China to collect payments from their customers in e-CNY, and avail the automated settlement of e-CNY directly into their bank deposit account.

Bitcoin, Ether slip but remain above key price levels while altcoins struggle to find momentum

Bitcoin and Ether fell during Wednesday afternoon trading in Hong Kong but remained above key price levels, while most of the top altcoins were in the red.

Airchains to record land ownership with NFTs for Indian city

Indian Web3 firm Airchains has announced a partnership with the New Town Kolkata Development Authority of West Bengal, to release 500,000 NFTs in hopes to enhance registration and transfer of land ownership. 

Bitcoin trades flat after losing US$31,000 peg; Solana gains; Polygon, BNB lead losers

Bitcoin and Ether traded little changed on Wednesday morning in Asia, while the rest of the top 10 non-stablecoin cryptocurrencies were mixed.

Bitcoin, Ether slip but remain above key levels; top 10 cryptos mixed

Bitcoin and Ether fell during Tuesday afternoon trading in Hong Kong, while most of the top 10 non-stablecoin cryptocurrencies by market capitalization were mixed.

How Web3 is disrupting gaming business models and player economics: Opinion

From pay-to-play arcade video games to sales of home consoles, gaming’s evolution into peer-to-peer marketplaces is posing a new challenge to the status quo, writes Jackson Poon.

Bitcoin breaches US$31,000 on BlackRock’s updated ETF; Ether gains, Polygon leads winners

Bitcoin climbed above US$31,000 on Tuesday morning in Asia after Blackrock refiled its Bitcoin ETF application. Ether also gained amid institutional interest.

Bitcoin slips, Ether inches up, top 10 cryptos gain as investors remain upbeat

Bitcoin fell and Ether rose during Monday afternoon trading in Hong Kong, while most of the top 10 non-stablecoin cryptocurrencies by market capitalization strengthened.

Global shifts in crypto capital are underway. Here’s where the money is going

Digital assets funds have been flowing in waves all over the world since crypto’s inception, writes Amy Yu, CEO of SEBA Bank. Where is crypto capital going now?

Hong Kong launches task force to promote blockchain initiatives, developments

Hong Kong’s local government on Friday set up the Task Force on Promoting Web3 Development to promote the benefits of blockchain to real-world industries.

Bitcoin flat, Ether gains in mixed crypto market; Solana rebounds, Litecoin leads winners

Bitcoin traded flat above US$30,000 while most other leading tokens were mixed. Litecoin and Solana saw the biggest gains among the top 10.

Blockchain Alliance’s Raj Kapoor says the technology can reshape India’s governance systems

Kapoor founded the India Blockchain Alliance five years ago and gives an update on how the technology is being used in police reports to real estate transactions, as well as challenges of CBDC adoption and plans for tokenization of assets. He spoke in an interview for Forkast IQ.

Generative Art – The Golden Goose of NFTs

Dmitri Cherniak’s generative art NFT, ‘The Goose’, sold for US$5.4 million at Sotheby’s. The sale, a second highest for generative art, signals NFT art’s growing prominence and potential in the Web3 era.

US SEC says Bitcoin ETF applications inadequate: WSJ

The U.S. Securities and Exchange Commission (SEC) said the recent series of spot Bitcoin exchange-traded fund (ETF) applications by asset managers were inadequate and not sufficiently clear, according to a report by Wall Street Journal on Friday. 

Ripple executive spells out Asia future after license success in Singapore

Ripple Labs’ Asia-Pacific branch is offering digital payment services in Singapore after receiving in-principle approval of its license application from the MAS on June 22. What does that mean for the company’s Asia business?

Bitcoin ETFs, Azuki NFTs take off; India presses for crypto rules

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Bitcoin, Ether rise along with all other top 10 cryptos

Cyptocurrency investor sentiment continues to improve with Litecoin posting strong gains as its halving event in August gets closer.

Blockchain Association joins Coinbase in pushing back against SEC over crypto crackdown

The Blockchain Association said the U.S. SEC chair Gary Gensler should remove himself from enforcing rules on the crypto sector.

U.K. bill to regulate crypto assets passes into law, offering ‘rocket boost’ for economy

A U.K. bill to recognize cryptocurrency trading as a regulated financial activity passed into law on Thursday.

The bane of crypto today is quantity over quality: Opinion

The market now has 26,000 different cryptocurrencies and the total number of coins in circulation approaches infinity. How do those tokenomics make any sense?

Bitcoin gains with all top 10 crypto, Fidelity confirms Bitcoin ETF bid, U.S. economy rebounds

All top 10 cryptocurrencies rose, led by Solana, as another financial heavyweight applied to offer a Bitcoin exchange-traded fund and data showed the U.S. economy in good health. Stocks rose.

Binance to change euro banking partner from September

Binance’s euro banking partner, Paysafe Payment Solutions, will stop offering its services for the world’s largest cryptocurrency exchange from Sept. 25.

Crypto gets a boost following reports of Fidelity’s imminent Bitcoin spot ETF filing

Top blockchain and crypto news: Fidelity Investment is reportedly close to filing its own Bitcoin ETF. NFT traders seek liquidity. Singapore eyes asset tokenization.

Bitcoin remains above US$30,000, despite hawkish remarks from Powell

Bitcoin and Ether rose during Thursday afternoon trading in Hong Kong, while the top 10 non-stablecoin cryptocurrencies by market capitalization were mixed.

Ledger wallet launches institutional crypto trading platform

Ledger announced the launch of Ledger Enterprise Tradelink, a secure and regulation-friendly trading system for institutional investors.

Bitcoin, all other top 10 cryptos lose ground; Azuki Elementals NFT disappoints investors

Bitcoin dropped but remained above US$30,000, with all other major cryptocurrencies falling, as investors reacted to news of MicroStrategy’s Bitcoin purchase and ARK Invest’s spot Bitcoin ETF plan.

Bitcoin dips but holds above US$30,000, all top 10 cryptos drop

Despite a slight dip in crypto prices, positive investor sentiment persists, buoyed by the potential of Bitcoin ETFs, rising institutional adoption, and recovery from regulatory concerns.

Sony Network Communications to invest in Japanese Web3 developer Startale Labs

With the announcement of funding invested in Japanese firm Startale Labs, gaming giant Sony will increase its already active exploration of Web3 and the possibilities inherent in blockchain technologies.

Crypto in the land of geisha — the global Web3 community arrives in Kyoto

Geisha, kimono, tea ceremony — the Japanese city of Kyoto is a place rich in traditional culture. But as the national government pivots toward the cutting edge potential of digital assets and Web3, the city is this week playing host to one of Asia’s largest crypto get-togethers.

Why Asia’s Web3 ecosystem needs collaborative venture building: Opinion

Collaborative venture building involves pooling resources, expertise and ideas — a strategy ideal for Web3 startups to succeed, writes Katherine Ng.

Bitcoin, other top 10 cryptos rise; Fidelity said to plan spot Bitcoin ETF application in U.S.

Bitcoin rose along with other major cryptocurrencies. Fidelity reportedly plans a second spot Bitcoin ETF application in the U.S. following BlackRock’s move earlier this month. A strong day on Wall Street also offered support.

Can Azuki’s new Elementals spark the entire NFT market?

Azuki’s Elementals launch may be a turning point for the NFT market, with the continued decline of top projects’ floor prices.

Bitcoin holds above US$30,000, most other top 10 cryptos mixed

Bitcoin slipped 0.04% but remained above US$30,000. Ether fell 0.97% to US$1,875.

Singapore outlines design framework for interoperable networks in collaboration with financial firms

The Monetary Authority of Singapore (MAS), the city state’s central bank, has proposed a framework for designing open, interoperable networks for digital assets, developed jointly with the Bank for International Settlements and other financial institutions. 

Shanghai targets US$6.9 billion metaverse revenue from culture, tourism projects

Shanghai on Wednesday released a three-year plan to build its culture and tourism metaverse.

Crypto is sweeping South and SE Asia. Here’s why it matters to the rest of the world

Five countries in South and Southeast Asia now rank in the global top 10 for cryptocurrency adoption, embracing DeFi and defying government attempts to discourage crypto use. Is this a harbinger of larger trends to come?

Bitcoin loses ground, but holds above US$30,000; most other top 10 crypto decline

Bitcoin slipped in directionless trading while Ether retreated, but both held gains for the past seven days. Most other top 10 tokens lost ground, led by Solana, while Tron was in the green as markets entered the last trading week of June.

Bitcoin slips but remains above US$30,000; Asian, European, U.S. stock futures stay down

Bitcoin prices drop 1.04% to US$30,416 in 24 hours, while Ether fell 0.98% to US$1,893.

Switzerland freezes US$26 million in crypto held by Terraform Labs and Do Kwon

Swiss prosecutors have reportedly frozen about US$26 million in Bitcoin and other cryptocurrencies that belong to Terraform Labs and its chief executive officer Kwon Do-hyeong.

How blockchain gaming can level up: Opinion

Despite its potential, Web3 gaming has had mixed reviews from gamers and developers, writes Freddie Ng. Here are the challenges and opportunities.

Japan exempts cryptocurrency issuers from 30% tax on unrealized gains

Cryptocurrency issuers in Japan are now exempt from paying a 30% corporate tax on unrealized gains on tokens.

Bitcoin treads water above US$30,000; SEC approves first leveraged Bitcoin futures ETF

Bitcoin held ground above US$30,000 following a week of traditional financial institutions showing interest in financial instruments that include the token. The U.S. regulator approved the first leveraged Bitcoin Futures ETF on Friday.

Binance Abu Dhabi’s Longman discusses UAE’s crypto boom

Binance Abu Dhabi’s chief Dominic Longman discusses the UAE’s approach to cryptocurrencies and the state’s support for innovation.

JPMorgan begins euro payments on its blockchain platform: Bloomberg

New York-headquartered investment bank JPMorgan Chase & Co. has launched euro-denominated transactions on its blockchain-based payment system, JPM Coin, Bloomberg reported on Friday. 

OKX crypto exchange to be operational in Dubai within the year, says executive

Seychelles-registered cryptocurrency exchange OKX, which says it is the world’s second-largest crypto platform by trading volume, opened an office in Dubai on June 15 as part of its global expansion and aims to raise staff numbers to 30 to tap opportunities in the region.

Why DeFi token airdrops are risky and how to make them more secure: Opinion

Having a crypto wallet is necessary to participate in a token airdrop, but wallets are also vulnerable to hacks and mishaps, writes Ravindra Kumar of Frontier.

Bitcoin gains to hold above US$30,000; Ether little changed with top 10 crypto mixed

Bitcoin traded above US$30,000 to hold onto the strong gains made this week on the back of growing institutional interest in the token as an emerging asset.

Wall Street-backed crypto exchange a sign of lingering interest despite SEC’s crackdown

Top blockchain and crypto news: Wall Street backs new crypto exchange. NFT traders remain cautious. Alibaba’s incoming chairman is a crypto fan.

SoftBank-backed crypto bank Xapo to expand services in India

Xapo Bank, a Gibraltar-based cryptocurrency bank backed by SoftBank, DST Global and Ribbit Capital, has announced its expansion to India, the world’s most populous nation. 

Bitcoin slips but remains above US$30,000 as TradFi alumni enter crypto

Bitcoin fell and Ether rose during Thursday afternoon trading in Hong Kong, along with all the top 10 non-stablecoin cryptocurrencies by market capitalization. Bitcoin rose above US$30,000 earlier today, following news of institutions like BlackRock, Fidelity and Deutsche Bank entering the crypto space.

Ripple gets in-principle approval for Singapore digital payment license

The Asia-Pacific arm of San Francisco-based technology firm Ripple Labs saidThursday it received in-principle approval to start offering digital payment services in Singapore.

Bitcoin breaches US$30,000 on institutional interest; Ether, other tokens follow higher

Bitcoin breached US$30,000 in Thursday morning trading in Asia, leading gains across all top 10 cryptocurrencies by market capitalization.

Singapore central bank, Amazon, IMF unveil ‘purpose-bound’ money technical concept

The Monetary Authority of Singapore (MAS) released on Wednesday a whitepaper for “purpose bound” money, detailing a technical overview of digital currencies designed for specific purposes.

Bitcoin rises, remains above US$28,000; Ether, top 10 cryptos strengthen

Bitcoin and Ether rose during Wednesday afternoon trading in Hong Kong, along with all the top 10 non-stablecoin cryptocurrencies by market capitalization. Bitcoin rose above US$28,000 as signs of institutional crypto adoption bolstered investor sentiment.

Bitcoin surges above US$28,000 on institutional adoption; Ether gains; U.S. equity futures down

Bitcoin surged over 5% on Wednesday morning in Asia to breach the US$28,000 resistance level, leading a rally of the top 10 non-stablecoin tokens except XRP.

WisdomTree files new spot Bitcoin ETF application following BlackRock

New York-based asset manager WisdomTree has submitted a new application for a spot Bitcoin exchange-traded fund in the U.S., less than a week after BlackRock filed its application for a similar spot Bitcoin ETF.

Citadel, Fidelity, Schwab-backed crypto exchange launches amid U.S. crackdown

EDX Markets, a cryptocurrency exchange with backing from major Wall Street players such as Citadel Securities, Fidelity and Charles Schwab, officially launched on Tuesday.

Bitcoin inches up, Ether slips; top 10 cryptos mixed

Bitcoin rose and Ether fell during Tuesday afternoon trading in Hong Kong, while most of the top 10 non-stablecoin cryptocurrencies by market capitalization closed mixed.