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Bitcoin, Ether drop; US equities rise as inflation cools

Bitcoin dipped on Monday morning in Asia but held above US$28,000. Most top 10 non-stablecoin cryptos dropped following a week unsettled by regulatory woes.

DeGods begins migration to Ethereum

Largest Solana NFT DeGods has started its migration to Ethereum just days after Y00ts began to move to Polygon.

Weekly Market Wrap: Bitcoin pops above US$29,000, market shrugs off Binance legal woes

With a U.S. regulator coming after Binance with a lawsuit and the seeming mounting pile of warnings and fines against other exchanges in the country, Bitcoin briefly skidded below US$26,677 only to rebound and pop up above US$29,000 on Thursday. Since then it has moved along the US$28,000 line, so what does this lawsuit by the heavyweight Commodity Futures Trading Commission mean for the broader crypto market?

Crypto investors remain optimistic despite crackdown

Most cryptocurrencies remained calm in spite of the CFTC-Binance lawsuit.

Bitcoin, Ether fall; top 10 cryptos mixed; gold closes March 8% higher

Bitcoin and Ether fell during Asian trading hours on Friday, while the rest of the top 10 non-stablecoin cryptocurrencies by market capitalization were mixed, amid mounting allegations against Binance

Crypto platforms need regulation as form of investor protection: HK’s SFC chief

Government officials from Hong Kong and mainland China talked about cryptocurrencies at the Boao Forum in China, as both chase Web3 ambitions.

Japan’s finance ministry to launch panel to assess digital yen: NHK

Japan’s Finance Ministry is reportedly planning to launch an expert panel next month to assess the feasibility of issuing a digital yen, according to NHK.

Bitcoin keeps its head held high despite options expiration

Welcome to The Daily Forkast – March 31, 2023 – presented by Megha Chaddah. Bitcoin holds above US$28,000 even as over US4 billion dollars worth of bitcoin option are set to expire later in the day. BNB prices saw a dip mid-week as news regarding the Binance-CFTC lawsuit came to light, but saw a slight […]

Bitcoin miner TeraWulf reports 146% revenue growth, expanded mining capacity

U.S.-based Bitcoin miner TeraWulf, which started operations in March last year, reported a 146% surge in revenue in the fourth quarter of last year compared to the previous quarter, citing expanded mining capacity. 

South Korea court rejects second arrest warrant request for Terraform Labs’ Daniel Shin

A South Korean court dismissed for the second time a request by prosecutors for an arrest warrant for Terraform Labs co-founder Daniel Shin.

Bitcoin fluctuates to hold US$28,000, Binance BNB token rises despite regulatory threat

Bitcoin dipped in Friday morning trading in Asia but held above US$28,000. The top 10 non-stablecoin cryptocurrencies traded mixed. Binance’s BNB led the winners.

Banking crisis shows why Bitcoin is needed more than ever

From the ashes of Lehman Brothers to this year’s bank failures, Bitcoin has proven itself as a necessary part of the global financial system, writes Mike Belshe, CEO of BitGo.

The future of digital transformation

From traditional finance to digital transformation – how can both learn from each other?

Bitcoin rises; Ether, other top 10 cryptos fall amid fresh Binance allegations

Bitcoin, the only gainer in the top 10 non-stablecoin cryptocurrencies by market capitalization, rose during Asian trading hours on Thursday.

HK-based venture fund hopes to raise US$100 mln for crypto investments: Bloomberg

Hong Kong-based asset management firm Plutus VC plans to raise US$100 million by the end of 2023 to fund investments in the cryptocurrency market, according to a Bloomberg report. The fundraising comes as the city moves to regain its status as an international finance and crypto hub.

Montenegro hints U.S. may get to extradite Terra fugitive Do Kwon ahead of South Korea

The U.S. may have gained an edge in a race with South Korea to extradite Terra chief Kwon Do-hyung from Montenegro on charges of fraud.

Hong Kong may license at least 8 crypto firms by year-end: former SFC regulator

Hong Kong may issue virtual asset trading licenses to at least eight cryptocurrency-related firms by the end of this year as part of the city’s new crypto licensing regime, said Angelina Kwan, chief executive officer of financial services firm Stratford Finance and a former regulator of the Hong Kong Securities and Futures Commission.

Binance denies China ties, says it started relocating staff out of China in 2021

The Binance comments came in response to a Financial Times article that cited internal documents and said the company had close ties with China despite claims it had left the country in 2017 following a government crackdown.

Bitcoin climbs above US$28,000, XRP leads winners for the week, U.S. equities jump

Bitcoin edged above US$28,000 in Thursday morning in Asia amid a broad rally in most top 10 non-stablecoin cryptocurrencies.

Why rollups-as-a-service will be to Web3 what AWS was to Web2

The blockchain world is hampered by many of the same problems as the early internet, writes Amrit Kumar of Altlayer. What could RaaS do for the industry?

Bitcoin passes US$28,000, Binance accused of hiding Chinese links

Welcome to The Daily Forkast – March 30, 2023 – presented by Joel Flynn for the latest in the crypto markets. Bitcoin once again passes the US$28,000 mark, with the wider crypto market also seeing gains over the last 24 hours. Binance has been accused of hiding extensive links to China for years after claiming […]

SEC Chair urges more resources to regulate crypto and technology at House Subcommittee hearing

SEC Chair urges for increased funding to address challenges posed by crypto markets and rapid technological innovation during House Subcommittee testimony.

SEC charges Beaxy cryptocurrency platform for violating securities laws

The SEC has charged the Beaxy crypto trading platform and its executives for operating as an unregistered exchange, broker, and clearing agency.

Binance concealed ‘extensive’ ties to China: Financial Times

Binance reportedly hid ties to China for years despite claiming to have left the country following Beijing’s regulatory clampdown in 2017.

Crypto exchange Fasset hopes to win Indonesia license next month

Dubai-based Fasset says Indonesia digital asset adoption is still in early stages, but the country’s young population is taking to crypto faster, encouraging exchanges to move in despite infrastructure constraints.

Russia delays CBDC pilot to await new law

Russia has postponed the trial of a digital ruble originally scheduled for April 1, as it awaits a regulatory framework to be adopted before the pilot, according to a report by state-owned news agency TASS.

Ripple exec says innovation is leaving the US.

As US authorities continue to police crypto regulations, we take a look at the direction the country’s crypto innovation is headed.

EU lawmakers impose €1,000 cap on anonymous crypto, cash transactions

European lawmakers have adopted legislation imposing a €1,000 (US$1,084) cap on anonymous cryptocurrency transactions, as part of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) package.

Binance faces legal battle as US regulator gets ready to rumble

Top blockchain and crypto news: Binance targeted in CFTC lawsuit. Law catches up with Do Kwon. Chinese banks bet on Hong Kong crypto.

Bitcoin rebounds above US$28,000, XRP leads gains among top 10 cryptos

Bitcoin rallied above US$28,000 in Wednesday afternoon trade in Asia after losing ground earlier in the week when U.S. regulators filed a lawsuit against Binance, the world’s biggest crypto exchange, for allegedly breaching trading rules.
and

Binance sees US$627 mln in net Ethereum outflow following CFTC lawsuit

Binance saw about US$627 million in net Ethereum-related withdrawals in the 24 hours through Tuesday morning, data from blockchain analytics platform Nansen showed.

Bitcoin holds ground, XRP continues run-up

Welcome to The Daily Forkast – March 29, 2023 – presented by Joel Flynn. Prices of Bitcoin and other cryptocurrencies remain steady Wednesday morning in Asia. While XRP continues to gain on expectations that Ripple Labs may win a favorable ruling in a lawsuit filed by the US Securities and Exchange Commission.

Bitcoin holds ground amid Binance lawsuit, XRP continues run up, U.S. equities dip

Bitcoin rebounded in Wednesday morning trading in Asia along with all other top 10 non-stablecoin cryptocurrencies. XRP led the winners.

OKX cryptocurrency exchange to apply for virtual asset license in Hong Kong

Seychelles-based cryptocurrency exchange OKX said it will apply for virtual asset licenses to operate digital asset services in Hong Kong.

Bankman-Fried charged with paying millions in bribes to Chinese government officials

Sam Bankman-Fried allegedly paid US$40 million in cryptocurrency bribes to at least one Chinese government official in November 2021.

Asia leads crypto regulations, innovation may leave the US, says Ripple’s Long

Asia-Pacific nation are leading the way in developing global cryptocurrency regulations that favor innovation, which is something that U.S. regulators should also take note of, said Ripple Labs Inc. President Monica Long

Walt Disney reportedly scraps metaverse plans

Entertainment conglomerate Walt Disney Co. has reportedly scrapped its metaverse plans as part of its decision to lay off 7,000 employees and reduce US$5.5 billion in expenses. 

Where is the Metaverse headed?

The conversation hasn’t died down, and the potential is still there. But what about the ambition?

Bitcoin, Ether extend declines amid U.S. lawsuit against Binance; Asian equities mixed

Bitcoin and Ether continued to fall in Tuesday afternoon trade in Asia, along with most other top 10 cryptocurrencies by market capitalization, after regulators in the U.S. pulled up Binance, the world’s biggest crypto exchange, for allegedly violating trading mandates.
and

Binance rejects U.S. charges of violating trading rules, manipulating markets

Binance CEO Changpeng Zhao said the charges are “an unexpected and disappointing civil complaint” in response to the CFTC lawsuit filed on Monday against him and the world’s largest crypto exchange.

Montenegro to hold Terra-Luna fugitive Do Kwon for 30 days, says Yonhap News

Kwon Do-hyung will be held in Montenegro for a month on charges of using forged travel documents, South Korea’s Yonhap News reported.

Crypto ebbs as CFTC sues Binance

Welcome to The Daily Forkast – March 28, 2023 – presented by Joel Flynn. US Regulators at the Commodity Futures and Trading Commission, or CFTC, are suing Binance and founder Chaopeng Zhao for “willful evasion” of U.S. laws.

Is our banking system obsolete?

For long, people could only put cash into a bank account or under the mattress, writes Eric Johnson. Will blockchain technology offer a viable alternative?

Bitcoin, other crypto fall as U.S. sues Binance; U.S. equities gain as banks stabilize

Bitcoin fell Tuesday morning in Asia along with most other top 10 non-stablecoin cryptocurrencies after the U.S. filed a lawsuit against Binance.

Binance, Zhao sued by CFTC for alleged regulatory violations

Binance and founder Changpeng Zhao have been sued by the CFTC for allegedly violating derivative rules

MicroStrategy buys 6,555 Bitcoin worth US$150 mln

MicroStrategy acquired 6,555 Bitcoin for around US$150 million, at an average price of US$23,238 per coin, between Feb. 16 and March 23

Bitcoin rises, most top 10 cryptos drop, amid mixed signals on state of banking sector

Bitcoin rose while Ether and most of the other top 10 non-stablecoin cryptocurrencies fell during afternoon trading in Asia on Monday.
and

What impact will Ethereum’s Shanghai upgrade have on ETH and crypto markets?

Despite the potential sell pressures after Ethereum’s upcoming hard fork, it’s more likely that ETH stakers will hold for the longer term, writes Bill Xing of Bybit.

China state-owned banks turn crypto-friendly in Hong Kong: Bloomberg

China banks in Hong Kong are offering services to crypto businesses, Bloomberg reported on Monday, as more digital asset firms operate in the city.

G7 nations set to push for stricter cryptocurrency regulations at Japan summit in May

The Group of Seven industrial countries will discuss tougher rules on cryptocurrencies to improve transparency, protect investors.

Bitcoin gains as investors diversify amid worries about banking system; U.S. equity futures rise

Bitcoin and the other top 10 non-stablecoin cryptocurrencies rose on Monday morning in Asia, as investors diversify amid the ongoing banking turmoil.

Zipmex buyer misses payment, could risk US$100 million buyout: Bloomberg

Zipmex cryptocurrency exchange’s US$100 million venture capital buyout may be in danger, after buyer V Ventures missed the US$1.25 million payment due on March 23

Weekly Market Wrap: Bitcoin hovers around US$28,000 as banking concerns return. Will it hit US$30,000?

As banking contagion worries reignited, Bitcoin traded firmly above US$28,000 for most of the week. Considering that Bitcoin was made for a potential banking crisis, industry experts are eyeing the US$30,000 mark for BTC.

Cryptocurrencies bounce back despite fed rate hike

Most cryptocurrencies saw a huge increase in price over the past week.

Bitcoin, Ether, Forkast 500 NFT index rise; gold nears year-high over banking sector concerns

Bitcoin and Ether rose during Asian trading hours on Friday, along with most of the top 10 non-stablecoin cryptocurrencies by market capitalization, with Litecoin posting the biggest gains.

Hong Kong blockchain initiatives natural evolution for finance hub, says Signum Digital CEO

Hong Kong’s new crypto licensing regime isn’t the only bullish sign for the city’s digital asset industry, says Signum Digital, the first company to win a preliminary license to handle securitized tokens in the city.

Bitcoin mining difficulty rises 7.6% to set new all-time high as hashrate jumps

Bitcoin’s mining difficulty level rose 7.56% on Friday, hitting an all-time high along with the network’s hashrate, showing miners are applying more computing power.

Bitcoin rebounds above US$28,000 as equities gain in U.S. on Treasury easing bank worries

Bitcoin bounced back above US$28,000 on Friday morning in Asia amid a rebound in all top 10 non-stablecoin cryptocurrencies and gains in equities overnight.

Bitcoin breaks above US$28,000 as Do Kwon detained in Montenegro

Welcome to The Daily Forkast – March 24, 2023 – presented by Joel Flynn for the latest in the crypto markets. Most major cryptocurrencies have seen a increase in their prices amid the Federal Reserve’s decision to raise the Fed rate by another 25-basis points. Terra Luna founder Do Kwon has been arrested by Montenegrin […]

Death and crypto taxes: Which one inspires greater dread?

Filing taxes on crypto assets is a ‘massive pain in the proverbial butt,’ writes Don Gossen of Nevermined. As IRS deadlines loom large, how can responsible investors avoid underreporting or overpaying?

Hong Kong may face backlog in virtual asset license applications as demand grows, former SFC regulator says

Angelina Kwan, who helped shape early Hong Kong automated trading services and internet trading regulation, told Forkast the upcoming virtual asset licensing regime is almost identical to that for traditional financial institutions.

South Korea confirms identity of man arrested in Europe as Terra-Luna fugitive Do Kwon, seeks extradition

South Korea’s police said they confirmed the identity of a man arrested in Montenegro, Europe, as the Terraform Labs co-founder Kwon Do-hyung, who is wanted on charges of fraud related to the collapse of the stablecoin and cryptocurrency project he led.
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Hong Kong poised for ambitious changes

Hong Kong has opened its doors to the world once more, and it spared no time hosting blockchain and web3 focused summits.

Bitcoin, Ether, Forkast 500 NFT index fall, gold rises, as Janet Yellen rules out broad bank deposit insurance

Bitcoin and Ether fell during Asian trading hours on Friday, along with most of the top 10 non-stablecoin cryptocurrencies by market capitalization, with Binance’s BNB sustaining the biggest loss in the top 10.

Bitcoin, other cryptos drop as Fed raises interest rates

The Fed’s decision to hike rates by 25 basis points was along expected lines. So, why are the markets sulking?

South Korea arrests former Coinone exchange official for alleged crypto-listing bribery

A former employee of the Coinone exchange was arrested Tuesday on charges of accepting bribes in exchange for listing certain cryptocurrencies.

SEC warns Coinbase of potential legal action over staking, separately targets Tron founder Sun

The Securities and Exchange Commission has warned Coinbase, the largest cryptocurrency exchange in the U.S., it may face legal charges related to staking services and digital asset listings.

How DAOs can be remade to be more efficient and successful

DAOs are exploding in popularity but still hampered by weak governance and treasury mismanagement. What can help these novel organizations become more effective?

Bitcoin tracks equities lower on downbeat Fed, Treasury comments on banks

Bitcoin fell on Thursday morning in Asia, tracking equities lower after the U.S. Fed indicated interest rates could stay higher for longer.

Bitget invests US$30 mln in BitKeep wallet, becomes controlling shareholder

Seychelles-based cryptocurrency exchange Bitget said it has invested US$30 million in decentralized multi-chain wallet BitKeep to become its controlling shareholder. 

Could decentralization bring back trust in crypto?

Decentralization’s the talk of the town after the collapses of several centralized institutions.

Magic Eden introduces Bitcoin Ordinals for NFT traders

Magic Eden, the largest Solana-based non-fungible token (NFT) marketplace, has launched its “audited” Bitcoin Ordinals for NFT traders.