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Bank stablecoin project; Watch for Fed taper in 2022

Banks releasing new stablecoin project meanwhile better watch for Fed taper in 2022

Top crypto CEOs face House committee grappling with regulations

Stablecoins, US dollar primacy and energy consumption were among the topics in the questioning homing in on how to regulate the crypto industry.

Is Terra — whose LUNA coin is now at another all-time high — really where the smart money is?

LUNA is now the 12th largest crypto, and Terra’s platform has been called ‘Alipay on the blockchain.’ What are Terra’s investment risks? Forkast.News explains.

Huobi Group poised to establish regional hub in Singapore

Huobi Group, which operates Chinese cryptocurrency exchange Huobi Global, has decided to set up a regional hub in Singapore, a representative of company has told Forkast.News. Fast facts In November, Huobi Global pledged to stop offering services to Singapore-based users from March 31, 2022, to comply with local laws, according to a company statement. Huobi […]

What is Cosmos — the ‘internet of blockchains’?

The Cosmos ecosystem is expanding rapidly with inter-blockchain transfers on the rise. What makes Cosmos different from other blockchains? Forkast.News explains.

Coinstore defies regulatory tension to enter India

Singapore-based crypto exchange Coinstore has entered the Indian market despite the regulatory wrangle that points toward an impending ban on all private cryptocurrencies, the company announced today. Fast facts Coinstore has launched its website and mobile application for Indian users and plans to set up offices in Bangalore, Delhi, and Mumbai that will support its […]

What is SafeMoon and can it safely reach the moon?

SafeMoon, known for high fees and social media hype, is now 85% below its all-time high. What lies in SafeMoon’s future?

Tether pledges to work with policymakers on stablecoin transparency

Tether, issuer of the world’s most popular stablecoin USDT, has responded in multiple tweets saying it will work with policymakers, after the U.S. Senate Banking Committee earlier this week sent letters to several stablecoin issuers — including Tether — to inquire about their operational features. Fast facts In the tweets, Tether said it appreciates the interest from […]

US Senate Banking Committee sends inquiries to stablecoin issuers

The U.S. Senate Banking Committee has sent letters to several stablecoin issuers to inquire about their operational features. Fast facts In a Monday tweet, Ron Hammond, director of government relations at the Blockchain Association, said the stablecoin issuers include Coinbase, Gemini, Circle, Paxos, TrustToken, Centre, Binance U.S. and Tether. “This is likely a sign of […]

Why Arbitrum and rollups are dominating Ethereum scaling

Arbitrum is leading the way in Ethereum scaling, according to a new report by Nansen, a blockchain analytics platform. What are the challenges that lie ahead?

India’s crypto market plummets as parliament schedules debate on bill to ban it

Bitcoin and Ethereum prices fell nearly 24% in India as investors sought to get ahead of a possible crypto prohibition.

What would Jerome Powell’s second term mean for crypto?

Top blockchain and crypto news: Fed nominations suggest no sudden moves. El Salvador’s Bitcoin lava affair. Dodgy dealings in China’s digital yuan.

What is Algorand and why is it a blockchain to watch?

Algorand ‘re-imagines’ blockchain by trying to solve key weaknesses of Bitcoin. Learn about this wannabe Ethereum killer in this Forkast.News explainer.

Square releases white paper for DEX to allow exchange of crypto, fiat and more

U.S. payments giant Square wants to build a decentralized platform called tbDEX for exchanging cryptocurrencies like Bitcoin as well as fiat currency and real-world goods. Fast facts Square released a white paper on Friday detailing how the platform would work. The white paper was released on the GitHub community for contributions. The protocol “facilitates decentralized […]

Crypto market cap plunges; South Korean banks head into metaverse

Crypto market cap plunges as South Korean banks head into metaverse

Bitcoin, crypto market downward trend continues

Bitcoin continued its downtrend today to reach a low of $55,861, its lowest price this month. The world’s first cryptocurrency has dropped by 18.6% since reaching a fresh all-time high of over US$69,000 last week. Bitcoin’s price low comes amid struggles in the overall crypto market, which has lost over US$400 billion from its total […]

Crypto exchange Gemini raises $400M for product and market expansion

Joining the slew of cryptocurrency exchanges that have completed investment rounds in recent months, New York-based cryptocurrency exchange Gemini this week announced the close of a US$400 million funding round led by Morgan Creek Digital, bringing the company’s valuation to US$7.1 billion. Fast facts Investors in the funding round — which was Gemini’s first-ever outside […]

More Chinese crypto news services appear to become unavailable

A few more Chinese cryptocurrency news sites are currently unavailable amid the country’s ongoing clampdown on the sector. Fast facts The website of ChainNews, one of China’s largest crypto news websites, was not available as of press time on Thursday. It tweeted on Nov. 15 that the site will be down for eight to 10 […]
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DeFi fraud and thefts rose 600% in 2021 to reach $10.5B

Billions have been stolen through hacks from decentralized finance protocols, with Ethereum seeing the bulk of losses, according to a report by Elliptic.

Crypto exchange Coinhako receives in-principle approval for Singapore license

Singapore-based cryptocurrency trading platform Coinhako has received in-principle approval from the Monetary Authority of Singapore for a digital payment token (DPT) service license — making it the first local native cryptocurrency exchange to announce that it is close to being granted the much-coveted license. Fast facts Coinhako is now working through the conditions of its […]

How to avoid getting rug-pulled in crypto and DeFi

Scams like the Squid Game Token rug pull are every investor’s nightmare. How to avoid hoaxes and not feel like a fool? Forkast.News explains.

India’s 1st parliamentary meeting on crypto ends with consensus on regulation — and no ban

While the government has yet to figure out the details, a crypto regulatory regime is expected to be released before February.

A crypto trader is rescued after being kidnapped by local gang for six days

A crypto investor in Hong Kong was rescued six days after being kidnapped earlier this month when he tried to meet a buyer offline who promised to purchase his Tether tokens.

Hong Kong’s First Digital Trust to custody security tokens on IX Swap

First Digital Trust, a Hong Kong-regulated trust and custodian specializing in digital assets, has become the first official custodian of IX Swap, a security token and cryptocurrency exchange, according to a company announcement today. Fast facts IX Swap is a decentralized finance (DeFi) automated market maker and liquidity pool for security tokens and tokenized stocks. […]

Indonesia’s top Islamic council says crypto use is forbidden for Muslims: report

The religious body’s decision comes after the country saw crypto transaction growth earlier this year.

Solana Breakpoint 2021 celebrates price ATH, technology and projects to come on the emerging blockchain

Rounding out an impressive year for the world’s No. 5 blockchain, Solana held its first global offline conference in Lisbon this week. Here’s a look at some of the key moments.

Ethereum’s Web 3.0 ecosystem expands, 3.4 million now into DeFi

Ethereum’s sprawling Web 3.0 ecosystem — which includes the majority of the decentralized finance (DeFi), stablecoins, non-fungible tokens (NFTs) and blockchain gaming worlds — continues to expand and draw users, with 3.4 million Ethereum addresses interacting with DeFi protocols, according to ConsenSys’ Web 3 Q3 2021 report published this week. Led by Ethereum co-founder Joseph […]

Crypto markets shudder as Evergrande fears re-emerge

As speculation continues over the fate of the Chinese property development giant, crypto markets were not spared the downturn over fears of its potential collapse.

BitMEX CEO expects 5 to 10 countries to adopt Bitcoin by next year

While El Salvador carved out its place in history as the first country in the world to adopt Bitcoin as legal tender, there are others that may follow for an array of reasons.

Crypto exchange Huobi to stop serving Singapore-based customers

Cryptocurrency exchange Huobi Global will stop serving Singapore-based customers from March 31, 2022 to comply with Singapore laws, according to a company announcement on Nov. 9. Fast facts “To comply with the laws of Singapore, we will have to include Singapore as a restricted jurisdiction. Regrettably, this means Huobi Global can no longer offer services […]

Ethereum drives crypto comeback as US tax fears leave market unfazed

Top blockchain and crypto news: Ethereum rises and rivals follow. Taxing times for US investors. New life for reborn crypto miner.

What are the digital assets powering the DeFi revolution?

Digital assets are disrupting financial services in ways not seen since the Middle Ages, writes Alex Tapscott of Ninepoint Partners. Here is the taxonomy for the future of finance.

South Korean regulator confirms that NFTs are not virtual assets

The country will follow global crypto guidelines in excluding non-fungible tokens (NFTs) from its categorization of virtual assets — meaning income from NFTs may remain untaxed in Korea.

Neobank Revolut looks to build its own crypto exchange

London-headquartered fintech startup Revolut is looking to build its own crypto exchange, according to a new job posting. Fast facts The selected candidate will lead neobank Revolut’s “technical team to architect and build Revolut Crypto exchange,” the job posting says. The candidate will need experience in building order matching engines, like those used on crypto […]

What is the Solana ecosystem and how is it fueling SOL’s stratospheric rise?

Solana prices keep cresting to new heights, making SOL a top-five cryptocurrency by size. What makes Solana and its ecosystem stand out? Forkast.News explains.

Stablecoin toss to US Congress as regulators circle

Top blockchain and crypto news: Stablecoins at regulatory crossroads. Squid Game crypto players suffer shocking fate. Are metaverses China’s new national insecurity?

BXH suffers US$130 million exploit; Squid game token meets deadly end

BXH suffers US$130 million exploit, also Squid game token meets deadly end

The Sandbox NFT metaverse platform raises $93M in Series B led by SoftBank

Sebastien Borget, COO and co-founder of The Sandbox tells Forkast.News how NFTs and an open and decentralized metaverse is transforming the way we live, work and play.

BXH says its exploit, now estimated at $139M, came from admin key leakage

The hacked DeFi platform called China’s cyber police first thing as most users appear to be in China.

Another DeFi platform, BXH, suffers $130M exploit

This follows an attack on Cream Finance that also resulted in a $130M hack.

Squid Game and BTS tokens emerge amid K-culture boom — and warnings to consumers

The wild popularity of South Korean Netflix TV series Squid Game and K-pop boy band BTS prompt parody tokens in the crypto space under circumstances that are being called into question.

Tales from the Crypt, 2021: 10 crypto horror stories

Behind this year’s giddy markets, evil and tragedies abound. Just in time for Halloween, Forkast.News shakes out the skeletons in crypto’s closet.

Unraveling the mystery behind why Bitcoin prices are all over the place

Even the most reliable media can report wildly different crypto numbers. Forkast.News dives into DeFi math and crypto exchange economics to find out who’s right.

What will Ethereum prices be as 2021 ends?

As Ethereum surges to a new all-time high, 50 fintech experts surveyed by Finder offer predictions on ETH’s year-end and longer-term price outlook.

Bitcoin propels crypto institutional inflows to record $1.5B

Crypto investment products saw record inflows last week of US$1.47 billion, with Bitcoin accounting for 99% of the inflows, according to digital assets fund manager CoinShares. Total crypto assets under management also reached a new peak of US$79.2 billion. Fast facts Bitcoin investment products saw record inflows of US$1.45 billion last week. “The record inflows […]

S. Korea’s top financial regulator accused of giving special treatment to Upbit

A lawmaker claims authorities gave the country’s largest crypto exchange privilege in meeting government requirements.

Ethereum price touches new all-time high in altcoins rally

Ethereum prices surged to new heights ahead of next week’s Altair Beacon Chain upgrade but then pulled back. How do crypto experts make sense of it?

South Korean theme park Lotte World opens on metaverse

Lotte World Adventure, one of the most popular South Korean amusement parks, is opening a virtual replica on Naver’s Zepeto metaverse. Fast facts Lotte World Adventure constructed “Magic Island,” its outdoor section of the park, onto the Zepeto metaverse, which opens tonight at 6 p.m. Korea time. Upon entering the Lotte World map on the […]

China’s crypto investors get creative to bypass domestic trading ban

Some are registering companies overseas, via — you guessed it — Taobao vendors.

Is Estonia, once a trailblazer in crypto, now killing it off?

Estonia revoked more than 70% of all crypto licenses last year. Its recently appointed anti-money-laundering chief wants to nullify the rest.

Samsung Next, others grow blockchain portfolio despite tightened South Korea regulations

Conglomerates including Samsung continue to invest in blockchain and crypto startups despite a government crackdown on the industry.

East Asia falls from 1st to 4th place in share of global crypto transaction volume

East Asia’s share of global cryptocurrency transactions plunged to 14% in June 2021 from 31% in April 2019 when it was by far the world’s largest crypto economy, according to blockchain data provider Chainalysis’ 2021 Eastern Asia Report published today. Fast facts China’s crypto crackdown in May saw East Asia — with China the biggest […]

Crypto exchanges diversify amid growing competition

As non-crypto players like Twitter and PayPal take up digital assets, Coinbase, Binance and others look for ways to expand offerings.

China to ‘outdate’ crypto mining industry with more restrictions

The country’s top economic planner hopes to prohibit investment in what it considers an energy-intensive sector.
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Australian Tax Office warns: taxpayers on the hook for crypto tax earnings

Officials are concerned that many investors may not be aware crypto trading is taxed in a similar way to share trading.

How should the world tackle crypto criminals and digital dangers?

Top blockchain and crypto news: US leads charge in ramping up cybersecurity. Crypto fans crow as Facebook flops. China bears down on metaverses.

How Singapore is emerging as a safe harbor for the Chinese crypto industry exodus

As China intensifies its crypto crackdown, regulatory clarity is a beacon for safer shores in Southeast Asia.

What are stablecoins, and why are some governments so afraid of them?

Stablecoins combine the portability of crypto with the price stability of fiat currencies. But are they all that stable?

Crypto on the beach: FTX and other players find paradise in the Caribbean

This week, FTX announced it is moving its headquarters from Hong Kong to the Bahamas, as the larger Caribbean region takes on a bigger role as host to virtual currency exchanges.

Singapore grants crypto licenses to DBS and Australian exchange Independent Reserve

The Monetary Authority of Singapore (MAS) today granted licenses to DBS Vickers (DBSV), the brokerage arm of DBS Bank, and Independent Reserve, an Australian cryptocurrency exchange, to provide digital payment token services under the Payment Services Act (PS Act). Fast facts Formal approval from MAS, which follows its earlier “in-principal approval” granted to both companies […]

Why China’s latest stomp on crypto is turbo-charging DeFi growth

DeFi tokens like dYdX soared after China’s latest move to throttle crypto. Is this a short-term spurt or decentralized finance shifting into high gear?

China’s crypto crackdown: What it means

China’s crypto crackdown and what it means

FTX CEO: This is the canary in China’s crypto ban coal mine

Amid China’s new clampdown, why is DeFi surging and the RMB-to-crypto market important? Sam Bankman-Fried analyzes what it all means and why FTX is leaving Hong Kong for a new home.

Industry players scramble, evaluate options as China bans all crypto transactions

China’s intensified crackdown on cryptocurrency leaves service providers looking to stay compliant with Friday’s abrupt announcement.
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Ban or no ban, Indian crypto industry is thriving

India’s crypto industry will grow over 200% to reach $241M by 2030, a new study says.

Crypto market is shaken as China declares all crypto transactions illegal

Bitcoin and Ethereum prices fall after Beijing intensifies crackdown on crypto trading, mining.
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South Korea’s crypto crackdown: What you need to know

The country’s crypto industry has been turned upside down with stricter operating rules that take effect tomorrow.

Second Avalanche hack hits Vee Finance for $35M in assets

Decentralized finance platform Vee Finance, which is based on the Avalanche blockchain, has suffered from a hack that saw the loss of Ether and Bitcoin tokens worth US$35 million, the lending platform announced on Tuesday. Fast facts Vee Finance suspended the platform’s contracts as well as its deposit and borrow function to protect user assets […]

What is Audius and could it be the next Spotify?

Audius is enjoying outsized buzz. Should Spotify be scared? In this Forkast.News explainer, learn how this blockchain startup could threaten music industry money — and power.

Evergrande’s uncertainty rocks crypto market

Crypto investors and industry watchers are following closely the potential collapse of Chinese property giant Evergrande.

India’s largest public bank bars payments to crypto exchanges

Most banks distance themselves from virtual asset platforms as the country’s central bank lobbies for a ban.

Why Cardano’s Charles Hoskinson says DeFi is ‘up for grabs’

As Cardano’s Alonzo upgrade goes live, founder Charles Hoskinson of IOHK calls DeFi a ‘bubble.’ How does he think the regulation that is sure to come will reshape DeFi in the future?