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Jeremy Allaire, CEO of Circle, which issues the second-largest stablecoin USDC, claims to have foreseen Terra and algorithmic stablecoin UST’s collapse six months ago because it was “a house of cards.” See related article: Terra shuts down indefinitely after coming back online; LUNA, UST still on life support Fast facts “There were two things that […]

Pakistani crypto exchange RAIN has urged the country’s finance ministry to regulate and impose a 15% tax on cryptocurrencies, local media reported. See related article: Pakistan takes a fresh look at cryptocurrency Fast facts RAIN told regulators that Pakistan can earn roughly US$90 million in taxes through a capital gains tax on cryptocurrency assets, according […]

The Securities and Exchange Board of India (SEBI) has suggested that no prominent public figures, including celebrities and sports personalities, should endorse crypto products, according to local media reports.   See related article: India’s crypto ads to get ‘highly risky’ banners starting April Fast facts Trading cryptocurrencies is not illegal in India, but the activity is […]

Klaytn, South Korean internet giant Kakao’s public blockchain, will build an open-permissioned blockchain for China’s state-backed Blockchain-based Service Network’s (BSN) infrastructure for the Middle Kingdom’s domestic use. See related article: Resist the temptation on NFTs, Chinese state-backed developer says Fast facts Klaytn said on Tuesday it will take part in establishing the Chongqing Chain, a […]

The South Korean National Assembly Research Service (NARS) asserted a 20% tax on cryptocurrency gains set for 2023 must maintain a 2.5 million won (US$1,942.20) threshold, contradicting new president Yoon Suk-yeol’s initiative to raise the limit to 50 million won, according to a report released on Thursday. See related article: S.Korea finance minister nominee wants […]

The world’s largest cryptocurrency exchange will delist a number of trading pairs linked to TerraUSD (UST), an algorithmic stablecoin that has been in a freefall since earlier this week. See related article: Tether stabilizes after burning 3 billion tokens amid redemptions Fast facts Binance Friday said it will remove and cease the trading of several […]

The ‘virtual land’ sale that broke Ethereum was also a fiasco for buyers. Should Yuga Labs have seen it coming and taken preventative action?

The series B round, led by Jump Crypto, helped push the cryptocurrency exchange’s valuation to US$10 billion, KuCoin said.

Blockchain consultancy TZ APAC has partnered with the National University of Singapore School of Computing (NUS Computing) to set up the Centre for Nurturing Computing Excellence, the company said in a statement.  See related article: CoinDCX chimes in on India’s growing blockchain education needs Fast facts The new center will enable students to learn from […]

India’s National Securities Depository Ltd. (NSDL) introduced a distributed ledger technology platform for the Debenture Covenant Monitoring system on Saturday to enhance monitoring of bonds. See related article: Indian market regulator asks depositories to use blockchain Fast facts The Debenture Covenant Monitoring system’s decentralized ledger will provide an immutable and verifiable audit trail of transactions […]

China’s digital yuan is now accepted on Guangzhou city trams and can be used to recharge Xiamen’s city public transport card, as the metropolises join an expanding network of cities using the digital currency. See related article: Chinese state media calls for wider e-CNY adoption Fast facts See related article: Xiamen issues China’s first blockchain-based […]

Despite Beijing’s rhetoric against speculation in non-fungible tokens, some in mainland China are trading on WeChat groups, spawning an industry that caters to the fervor over the asset class.

Hong Kong’s K11 retail and art complex is host to three events to showcase the new, wild and expensive world of non-fungible tokens as (debatable) art.

The diamond firm De Beers said it is deploying its Tracr blockchain, at scale, to provide immutable records of every diamond’s origin. See related article: Diamond sets record for most expensive object bought with crypto Fast facts De Beers, which developed Tracr, has already registered a quarter of its production by value on the network. […]

KoinBasket, a cryptocurrency investment start-up, has raised US$2 million in an early-stage funding round with the participation of leading global crypto veterans, the company said in a statement. See related article: India’s crypto shakedown be damned, CoinDCX raises $135 million Fast facts The Singapore-based company will use the funds for product and geographical growth, technology […]

Non-fungible token financing is still at a nascent stage and comes with significant risks for lenders and borrowers.

Blockchain can save time, money and reams of paperwork, writes Tim Bailey of Red Date Technology. But its future in global trade remains uncertain.

Algorand becomes FIFA’s new blockchain partner for the 2022 competition. Meanwhile, Square Enix sells Tomb Raider IP for blockchain ventures.

Japanese gaming giant Square Enix announced Monday that it is selling three of its gaming studios to Sweden-based Embracer Group for US$300 million and will use the funds for new businesses in blockchain technology, artificial intelligence and the cloud. See related article: Japan’s Square Enix reveals blockchain gaming ambitions for 2022 Fast facts Square Enix […]

The Algorand network has signed a deal to become the official blockchain technology partner of the 2022 FIFA World Cup in Qatar, and the 2023 Women’s World Cup in Australia and New Zealand. See related article: What is Algorand and why is it a blockchain to watch? Fast facts Algorand will assist FIFA in developing […]

Young investors demand more accessibility, transparency and accountability than traders of yore, writes Joe Jowett of StrikeX. What are the solutions?

Following a year of explosive price gains, the SHIB token is inching closer toward becoming a top 10 cryptocurrency. Will this so-called “Dogecoin killer” succeed? Forkast.News explores what’s in store for Shiba Inu.

There’s never a dull moment in the news business. Now, as media outlets explore blockchain, the Associated Press’s Dwayne Desaulniers says more change is coming.

Our Happy Company, cofounded by musician John Legend, has raised US$7.5 million in its seed round, as the company looks to expand its music non-fungible token (NFT) platform OurSong. Watch explainer: What does Music have to do with NFTs? Fast facts The financing round was led by Infinity Ventures Crypto and Animoca Brands, the company […]

South Korean asset manager Samsung Asset Management is reportedly set to list a blockchain exchange-traded fund (ETF) on the Hong Kong stock exchange (HKEX), local media reported on Thursday. See related article: South Korea’s largest financial group mulls crypto ETFs Fast facts The ETF set to list in Hong Kong will have the identical structure […]

Three Arrows Capital, a cryptocurrency trading and hedge fund manager, is moving its headquarters to Dubai from Singapore, becoming the latest among a growing number of firms looking to expand their presence in the Middle East. See related article: Dubai could be crypto’s promised land, Citi says Fast facts Su Zhu, cofounder of Three Arrows […]

Singapore says it wants to be a “responsible crypto hub”. Meanwhile, the Okay Bears lift Solana’s sales figures.

As many as 600 NFTs featuring a montage of audio calls and complaints made by Shanghai residents as they interacted with medical staff and neighborhood compound managers have appeared on OpenSea.

Binance has partnered with European banking service provider Contis to launch a crypto card for Ukrainian refugees, enabling crypto payments in the European Economic Area for those displaced by the war. See related article: Russians turn to crypto as Western sanctions hit the ruble Fast facts Kirill Khomyakov, Binance’s Ukraine general manager, said the crypto […]

The Bitcoin Mining Council, a voluntary forum of cryptocurrency mining companies supported by Michael Saylor’s MicroStrategy Inc., said its latest quarterly survey showed the global Bitcoin mining industry is relying more on electricity from sustainable sources.  See related article: Can Ethereum’s proof-of-stake transition save the planet? Fast facts The global Bitcoin mining industry had a […]

Dubai and neighboring Abu Dhabi have been on a tear when it comes to crypto service providers moving the core of their operations there.

Can blockchain embody the values of Earth Day? Consider its growing role in ESG and the energy-efficiency of newer crypto, writes Eddie Hui of MVGX.

Binance.US, the American crypto exchange set up by Binance cofounder Changpeng Zhao, will exit lobby group Blockchain Association and allocate resources to its own lobbying workforce in Washington, D.C. and state capitals, according to a media report.   See related article: Binance.US wins license in Puerto Rico to fuel growth Fast facts Binance.US is establishing its […]

The Korea Fair Trade Commission (KFTC) is reportedly planning to designate local crypto exchange Upbit owner Dunamu as an enterprise subject to limitations on mutual investment, which would add more regulations to the entity. See related article: Two crypto exchanges reach unicorn status in South Korea Fast facts A company with total assets over 10 […]

Cofounders of the Binance-backed Indian crypto exchange WazirX have reportedly moved to Dubai amid regulatory uncertainty and taxation, local media report. See related article: India’s crypto tax will incur losses for government, says WazirX CEO Fast facts Nischal Shetty and Siddharth Menon have reportedly moved to Dubai along with their families.  “Crypto has no boundaries,” […]

In the short history of DeFi, bridge hacks have accounted for an enormous amount of stolen funds, writes Joshua Tobkin. What can stop these attacks?

US authorities says North Korea is responsible for Ronin hack. Meanwhile, Binance and Gulf Energy initiate joint venture.

Indian cryptocurrency exchange CoinDCX’s latest funding comes as investors double down on the country’s potential to emerge as the world’s top market despite government apathy.  See related story: CoinDCX’s Sumit Gupta on CBDCs, regulation and India’s potential for crypto in 2021 Fast facts Series D funding was led by Pantera and Steadview Capital, the company […]

Hyundai Motor plans to support its own non-fungible token (NFT) community with an initial token release in collaboration with Meta Kongz this week, and a dedicated NFT website to launch in May. See related article: 20,000 line up for South Korean convenience store’s NFTs on White Day Fast facts Hyundai Motor, South Korea’s leading automobile […]

Binance has entered into a joint venture agreement in collaboration with billionaire Sarath Ratanavadi’s Gulf Energy Development to set up a crypto exchange in Thailand. See related article: Binance wins Abu Dhabi nod for another MENA outpost Fast facts Once the joint venture is established, it will apply for a digital asset exchange license with […]

Non-fungible tokens (NFTs) are going to be increasingly important with the rise in time spent on metaverses, Jayant Sinha, a member of parliament and Chairman of India’s Standing Committee on Finance, told The Economic Times on Monday.  See related article: India to make life hell for crypto investors: MP Fast facts Sinha’s comments come at […]

Zhou Xiaochuan, the former governor of the People’s Bank of China, said in a speech on Saturday that the digital yuan is designed to focus on transactions for people and merchants and not to replace SWIFT or weaponize the currency. See related article: The digital yuan’s de-dollarization Fast facts See related article: Hong Kong makes […]

Xiamen, a major city in China’s southeastern province Fujian, Friday issued China’s first batch of digital commemorative subway tickets based on Alibaba’s blockchain, AntChain. See related article: More courts in China accept blockchain-stored evidence Fast facts The digital ticket bears a likeness to a decorative metal badge,  and is themed with a combination of Xiamen […]

Circle, the issuer of the world’s second-largest stablecoin USDC, has raised US$400 million in its latest funding round with major investments from BlackRock and Fidelity Management and Research, as the stablecoin issuer looks to explore possibilities with the traditional financial world. See related article: Circle’s growth outpaces Tether as it doubles valuation Fast facts Circle […]

The stablecoin market cap grew by US$23 billion in an otherwise lackluster market for crypto assets, according to a quarterly report by CoinGecko. See related article: Bitcoin follows blue chips south amid market turmoil Fast facts Stablecoins were among the biggest beneficiaries from investor “derisking” into stablecoins, CoinGecko said in its report, with USDT remaining […]

FLUID aims to disrupt the virtual asset market-making industry by lowering fees and latency. Fast facts Blockchain investors GSR, Ghaf Capital, and 21Shares led the round. FLUID aims to tackle a multi-trillion-dollar market problem of illiquidity in virtual assets. The firm wants to enhance liquidity across spot trading, derivatives, futures, synthetics, tokenized assets, and security […]

Welcome to The Daily Forkast – April 13, 2022 – Presented by Megha Chaddah. Coming up on today’s show: Former Ethereum developer Virgil Griffith gets 63 months in prison. Coinbase snafu sets cat among the crypto pigeons in India. Huawei becomes latest of China’s tech giants to issue NFTs.  We’ll have more on those stories […]

The development allows the city to emerge as a top destination for asset managers looking to launch cryptocurrency-themed funds for professional investors. See related article: More traditional investors are eyeing cryptocurrency to diversify their portfolios Fast facts The Securities and Futures Commission (SFC)-licensed blockchain and virtual assets manager can manage portfolios that may comprise up […]

Bitcoin and Ethereum were down more than 5% each in Asian trading hours as cryptocurrency markets slumped in lockstep with traditional assets.

A shadow fork of the Ethereum mainnet went live on Tuesday, bringing it a step closer to the transition from proof of work (PoW) to a proof-of-stake (PoS) consensus mechanism for the Ethereum 2.0 upgrade. See related article: Can Ethereum’s proof-of-stake transition save the planet? Fast facts The Ethereum Foundation is currently working on a […]

In India, Mobikwik yanks crypto support. Meanwhile in the cyberspace, a Twitter hack promotes a fake NFT drop.

Solana non-fungible token (NFT) sales have risen by more than 60% in the 24 hours coming into Monday morning Asia time after leading marketplace OpenSea added support for the network mid-last week. See related article: Solana NFT sales drop by 21% after OpenSea integration Fast facts This marks a reversal of fortune for Solana-based NFTs […]

Terraform Labs (TFL) and the Luna Foundation Guard (LFG), the non-profit behind the Terra ecosystem, have acquired US$200 million worth of Avalanche’s AVAX tokens, diversifying its TerraUSD (UST) reserves beyond Bitcoin.  See related article: Terra’s US$10 billion Bitcoin Bet Sends LUNA to Record High Fast facts LFG purchased US$100 million worth of AVAX using UST […]

Chinese state media calls for stronger regulations of NFTs. Meanwhile, Sky Mavis raises $150M to offset Ronin hack.

News of Sky Mavis raising US$150 million to compensate users following the around US$600 million hack on its Ronin Bridge led to a surge in Axie non-fungible tokens (NFT) sales. See related article: Axie Infinity blockchain Ronin hacked for over $600M Fast facts Binance leads the round along with Hong Kong-based Animoca Brands, a16z, Dialectic, […]

Lightning Labs raised $70 million in series B funding to build a stablecoin and asset protocol on the Bitcoin network. See related article: Will the growing regulatory heat on stablecoins stifle innovation? Fast facts Investors include Valor, Baillie Gifford, Goldcrest, Kingsway, Stillmark, Brevan Howard, NYDIG, and others. Elizabeth Stark, co-founder and CEO of Lightning Labs, […]

Singapore on Tuesday passed a law requiring virtual asset service providers to be licensed if they do business overseas, according to Bloomberg.  See related article: How Singapore is reimagining its ‘Asian crypto hub’ image Fast facts The new legislation is an attempt by The Monetary Authority of Singapore (MAS) to ensure that it has adequate […]

RockX Tuesday said it raised US$6 million in series A funding, valuing the crypto staking platform serving institutional and high net worth investors at about US$30 million. Fast facts The funding was led by digital asset platform Amber Group and other crypto industry leaders including Matrixport, Primitive Ventures, FBG Capital, Draper Dragon, IMO Ventures, Alpha […]

Singapore’s largest lender won’t expand cryptocurrency trading on its exchange to retail investors any time soon due to “regulatory restrictions” in the island state. See related article: How Singapore is reimagining its ‘Asian crypto hub’ image Fast facts CEO Piyush Gupta said that regulatory agencies are “rightfully concerned” about holding back cryptocurrency trading for retail […]

In contrast to the rising crypto market, NFT sales have declined significantly in March, but one industry watcher says there’s no need to panic just yet.

Top blockchain and cryptocurrency news: Dubai’s crypto caravan. Mt. Gox unlocked. Digital yuan in play again.

Sushil Kumar Modi, a member of Parliament (MP), has urged India’s finance minister Nirmala Sitharaman to consider raising the capital gains tax on crypto income to over 30%, the flat rate scheduled to kick in from April 1.  See related story: India’s tax bogeyman is scaring off young crypto investors Fast facts The minister argued […]

DLT projects are defined by their network effects, writes Donald Thibeau of HBAR Foundation. Here’s why open networks and community are critical for success.

Ethereum sidechain Ronin, where play-to-earn blockchain game Axie Infinity runs, has been hacked for over US$600 million in crypto, making it one of the biggest hacks in crypto history. See related article: Axie Infinity becomes first NFT series to break $4B in sales Fast facts Ronin said the hacker compromised four of their own validator […]

Singapore-based cryptocurrency exchanges Crypto.com and Bybit have announced that they will be setting up offices in Dubai, as the industry continues its migration towards the United Arab Emirates (UAE).  See related article: As Binance shrinks away in Asia, will it put down roots in the Middle East? Fast facts See related article: Ripple launches first […]

Despite criticisms of play-to-earn games, blockchain innovations are here to stay and represent gaming’s future, writes William Wu of Catheon Gaming.

Ukraine launches its NFT Museum of War. Meanwhile, Bitcoin passes $47,000 mark.

The Australian Securities Exchange (ASX) has announced its highly anticipated AU$250 million (US$187 million) blockchain project has been delayed for release until late 2023 at the earliest. See related article: Australian Securities Exchange to launch crypto-related ETF Fast facts CHESS, or Clearing House Electronic Subregister System, was initially slated for a blockchain upgrade by April […]

A Hangzhou-based data firm has confirmed that it is working on the application of the digital yuan and the metaverse in the upcoming 2022 Asian Games.  See related article: China’s digital yuan app now publicly accessible, one step closer to launch Fast facts See related article: 2022 Asian Games in Hangzhou to sell torch NFTs […]

Ukraine’s Ministry of Digital Transformation launched the Meta History Museum of War on Friday, a museum hosted on the Ethereum and Polygon networks that chronicles the country’s war with Russia through non-fungible tokens (NFTs). See related article: Zelenskyy legalizes cryptocurrency in Ukraine Fast facts “Disinformation is used by Russia on a par with deadly military […]

Russia considers a bitcoin for oil proposal. Meanwhile, crypto markets make gains after weeks of volatility.

Azuki, an anime-inspired NFT avatar collection, surged over 140% in the past 24 hours to top Friday’s sales volume chart, surpassing Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club, according to CryptoSlam data.  See related article: Azuki, CryptoPunks battle it out for week’s top NFT title Fast facts With its latest spike, Azuki’s […]