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FTX Japan, the Japanese arm of the embattled crypto exchange FTX.com, said on Friday it has resumed yen withdrawals after the country’s Financial Services Agency (FSA) ordered the exchange on Thursday to suspend operations and put together a “business improvement plan.”

While FTX’s cash crunch has rattled global markets and investors, a White Knight investor could quickly turn the tide for the company, O’Leary told Forkast in an interview.

The state of California has launched an investigation into the ‘apparent failure’ of crypto asset platform FTX.

Sam Bankman-Fried sent his first series of tweets since Binance announced and then scrapped an offer to buy his cash-strapped cryptocurrency exchange. He apologized, acknowledged mistakes and said he will do right by FTX users.

FTX Japan was ordered by the country’s Financial Services Agency (FSA) to suspend operations until Dec. 9 and put together a “business improvement plan.”

There are not many white knight investors that are large enough to bail out the embattled crypto exchange, industry insiders say.

Over 5.2 billion stablecoins left crypto exchanges on Wednesday, the most in five months, on-chain data showed.

Cathie Wood’s Ark Invest seized the opportunity provided by Wednesday’s market downturn to snatch a considerable chunk of Coinbase stock.

The following is a running compilation of views and comments on Binance’s announcement that it will not go ahead with the acquisition of FTX.com.

Top blockchain and crypto news: FTX concedes defeat in long battle with Binance. Crypto eyes Congress races. Hong Kong U-turns on digital assets.

Bitcoin recovered slightly in Wednesday afternoon trading in Asia after hitting a year-low of US$17,604 this morning amid news of Binance’s takeover of the FTX exchange following speculation of solvency issues at FTX, although several coins extended their declines.

The following is a running compilation of views and comments on Binance’s takeover of the FTX exchange amid speculation of solvency problems at FTX.

Bitcoin fell to a year’s low of US$17,603 in Tuesday morning trading in Asia as Binance Global Inc.’s takeover of the FTX exchange unnerved investors.

NTT Docomo, Japan’s largest mobile phone operator, has partnered information technology firm Accenture and blockchain infrastructure Astar Network to explore Web 3.0 adoption.

Japan needs to further relax rules for its crypto industry, said lawmaker of Japan’s ruling Liberal Democratic Party Masaaki Taira.

Decentralized finance will stay niche unless the sector overcomes its myriad problems, including a lack of a credit system and regulations that inspire greater trust, writes Brian Pasfield.

The U.S. Department of Justice revealed on Monday that in 2021 it seized US$3.36 billion worth of stolen Bitcoin from Georgia real estate developer James Zhong.

Hong Kong’s latest FinTech policies indicate it wants to reclaim its position as a hub for cryptocurrencies and digital assets, but that means finding the right people for the job.

LG Electronics is recruiting chief technical officers (CTOs) to lead the company’s growing Web3 business.

KakaoBank, one of South Korea’s online-only banks with nearly 20 million users, said it will start providing accounts for users of Coinone exchange in November.

By excising cryptocurrencies from the ecosystem, crypto-hostile China could steal a march in enterprise blockchain, says Red Date Technology chief Yifan He.

HashKey Capital Singapore, an investment arm of Hong Kong-based HashKey Group, said on Friday that it received an in-principle approval for the Capital Markets Services license from the Monetary Authority of Singapore (MAS).

San Francisco-based dashcam maker and decentralized mapping service provider Hivemapper issued cryptocurrency tokens HONEY to reward dashcam users for contributing driving data and road imagery on Friday Hong Kong time, according to a press release shared with Forkast.

After dabbling in cryptocurrency product offerings, Goldman Sachs is now offering a service to clients to help analyze tokens and market trends.

Hong Kong and Singapore are now locked in a battle over the future of crypto in Asia – but who will emerge victorious?

Bursting of speculative bubble described as a turning point in the evolution of digital assets as industry players and observers welcome promise of mainstream adoption and better governance.

Digital wallet service provider Cryptillian Payment Systems has requested to file an amicus brief to support Ripple Labs Inc. in the latter’s ongoing court battle against the U.S. Securities Exchange Commission (SEC).

Binance is preparing to operate in South Korea’s crypto market, said CEO Changpeng Zhao at the Web Summit 2022 held in Lisbon.

The world’s largest crypto exchange seeks to become a bridge between traditional finance and cryptocurrencies.

What are soulbound tokens, and how can they end the ‘credit paradox’ that has been holding back the unbanked masses? Fakhul Miah of CreDA explains.

Digital asset and blockchain highlights of event draw huge crowds, even as industry figures say they want the technology behind them to become just a normal component of the finance system.

Markets: Bitcoin and Ether fall with crypto top 10 as Fed raises rates 75 bps

Top blockchain and crypto news: Hong Kong rethinks digital assets. CBDC to debut in India. China’s e-yuan privacy problem.

While October saw the emergence of two very popular NFT collections, sales failed to break US$500 million in the lowest figures since July 2021.

The issuer of the world’s second-largest stablecoin is joining a fleet of companies in the digital asset industry moving into Singapore. What’s the attraction?

Deputy director of monetary and capital markets at the IMF, Dong He, said at Hong Kong Fintech Week on Tuesday that his message to the crypto industry is to embrace regulation.

India’s Central Board of Indirect Taxes & Customs (CBIC), responsible for policy formulation and collection of indirect taxes like the goods and services tax (GST), has asked major cryptocurrency exchanges to provide details on the type of digital coins and tokens being traded and their valuation. 

The country looks to pass an initial bill that focuses on protecting digital asset investors and preventing unfair trade acts, ahead of wider legislation.

Cryptocurrency exchanges in Singapore are shifting focus to heavy-hitter investors, such as family offices and financial institutions, in line with the central bank’s warnings about the risks in retail crypto trading.

The billionaire founder of crypto exchange FTX, Sam Bankman-Fried, criticized regulations in Hong Kong and elsewhere that limit access to crypto investment to wealthy investors.

A hybrid middle ground between Web 2.0 and Web 3.0 is necessary before full Web 3.0 integration, argued Jehan Chu, co-founder and managing partner of blockchain venture capital firm Kenetic Capital, adding that “it’s not the fully decentralized future we were promised, but it’s the one we’re going to get first.”

Singapore-based Alta, a digital marketplace for alternative investments, has acquired private digital securities exchange Hg Exchange (HGX) for an undisclosed amount. 

Hong Kong reveals digital asset policies to distinguish itself from China, where cryptocurrency trading was banned in September last year.

South Korea-based blockchain game developer Wemade is working on a fix for WEMIX after four major crypto exchanges in the country added the cryptocurrency to an “investment warning” list for inaccurately reporting circulation numbers.

Bitcoin and Ether fell in Monday morning trading in Asia, along with most other top 10 cryptocurrencies by market capitalization, excluding stablecoins.

Visa International Service Association on Oct. 22 filed two trademark applications that hinted at plans of launching a crypto wallet.

The use of blockchain technology in finance will have an impact similar to that of YouTube on the media industry, said Lee Jun-haeng, CEO of South Korea-based blockchain company Streami.

When China banned cryptocurrency trading and mining in September 2021, it was feared that policy would make its way into Hong Kong. Seems that concern is getting a rethink.

The Nasdaq-listed company expects to deplete its cash resources by the end of this year.

Binance CEO Changpeng Zhao believes education is key to a wider, safer adoption of blockchain technology.

Europe’s new MiCA framework for regulating crypto shows the good that can happen when government works with and not against the industry, writes Nick Saponaro of Divi Labs.

Cash App users in the U.S. can now buy, send, and receive Bitcoin using the Lightning Network, directly within the app. 

Hong Kong-based crypto investment firm Q9 Capital has received a provisional virtual asset approval from Dubai’s Virtual Asset Regulatory Authority (VARA), the company said on Wednesday in a statement shared with Forkast.

Top blockchain and crypto news: Aptos launch falls short. Why FTX chief is calling for crypto regulations. Is Hong Kong paving way for a retail CBDC?

The central bank is also considering options such as banning crypto firms from offering credit facilities, leverage or staking services to retail traders.

Bitcoin posted a three-week high in afternoon trading in the Asia time zone. Ether led gains across all top 10 cryptocurrencies by market capitalization, with a 12% surge. Cardano’s ADA and Solana’s token also registered double-digit gains.

As a leading financial institution of South Korea, Shinhan is gearing up for business expansion into crypto — while a local ban remains on the books.

Lawmakers in the British Parliament’s lower house voted in favor of recognizing cryptocurrency assets as regulated financial instruments and products Tuesday.

Survey reveals popularity of crypto ownership among voters, their hopes for the industry’s growing potential and the need for regulation to protect consumers.

Bitcoin was trading above US$20,000 for the first time in almost three weeks on Wednesday morning trading in Asia.

Family offices and high net worth individuals (HNWI) will drive the adoption of digital assets across Asia, according to a joint report by professional services firm KPMG China and Hong Kong-based crypto asset management platform Aspen Digital. See related article: Hong Kong, BIS explore CBDC-backed stablecoins in retail prototype Fast facts The report, largely based […]

Apple is allowing NFTs in applications, but will not allow them to be used to unlock in-app content or features.

Cryptocurrency exchange FTX will reimburse US$6 million lost by users in a phishing attack over the weekend, according to founder Sam Bankman-Fried.

Rishi Sunak, who previously spearheaded the UK’s crypto hub ambitions as finance minister, has been elected by the Conservative Party on Monday following Liz Truss’ resignation last week. 

WEMADE, a South Korean blockchain game developer, recently launched its stablecoin, WEMIX$, for growing its blockchain ecosystem, which houses NFTs and DeFi.

Institutional adoption of Web3 in finance means getting traditional banks involved, which will in turn reshape the way banks work, says SC Ventures’ Alex Manson.

India’s lack of regulatory clarity on crypto and Web 3.0 is a driving force of critical human capital flight, according to a new report by Nasscom.

South Korean police raided local software company Hancom and home of chairman Kim Sang-cheol on Thursday amid speculation that Kim created a slush fund using crypto token Arowana, according to local media reports.

Bitcoin fell, but traded back above the US$19,000 support level in Friday morning trading in Asia. Ether lost ground along with most other top 10 cryptocurrencies by market capitalization, excluding stablecoins, but leading memecoin Dogecoin rose and Tron also edged higher. See related article: Twitter user prevents 200 billion BitBTC bridge exploit, highlighting major vulnerability […]

A Twitter user highlighted a vulnerability in BitBTC’s Optimism bridge and averted what could have been the latest in a string of bridge exploits this month.

Fidelity Digital Assets will allow clients to trade Ether from Oct. 28, according to a company email shared by Fidelity’s customers via Twitter. See related article: Fidelity considers Bitcoin trading on brokerage platform: WSJ Fast facts Institutional investors will be able to buy, sell and trade ETH, the second-largest cryptocurrency by market cap. “With the […]

In a Q&A with Forkast, First Digital Trust Chief Executive Officer Vincent Chok shared his views on Hong Kong getting back into crypto, regulations, and how the crypto pie in Asia is big enough for rivals Singapore and Hong Kong.