Crypto derivatives exchange Bybit and Ontario Securities Commission agree on enforcement proceeding schedule
The Ontario Securities Commission in Canada and Bybit, a cryptocurrency derivatives exchange headquartered in Singapore, have come to an agreement on the schedule for Bybit’s upcoming enforcement proceeding, according to the OSC. Fast facts The first hearing between Bybit and the OSC — the agency that oversees securities legislation in Canada’s largest province by population […]
UK police seize record US$408 million in cryptocurrency in money-laundering investigation
London police announced on Tuesday they have seized a record £294 million (US $408 million) in cryptocurrency in less than a month, as part of an ongoing investigation into money laundering. Fast facts According to London police, their recent £180-million (US$248.8 million) seizure in cryptocurrency comes less than three weeks after a £114-million (US$157.5 million) […]
Stablecoins promise much, but can they deliver?
As issuer Circle prepares to list and China sounds the alarm over speculation, the mood among regulators is mixed, despite stablecoins’ clear appeal to investors.
Band Protocol launches Phase 2 to bring off-chain data to DeFi
Oracle platform Band Protocol is aiming to enable data providers like Google Cloud and Bloomberg to work better with decentralized applications.
NFTs and the music industry: Token gesture or transformative technology? | Part 1
In the first of a four-part series, Forkast.News looks at how non-fungible tokens may be changing who calls the tune in the recording business.
Bull run or BS? Where will crypto markets go after the Bitcoin crash?
Soaring BTC and altcoin prices earlier this year drew in new investors, who now worry about the current slump. Will crypto prices rise again, or are modest valuations here to stay?
Bitcoin outflows near $7M in ‘quietest’ crypto trading week for nine months
Cryptocurrency investment products saw a total outflow of US$4 million last week in the “quietest trading week since October 2020,” according to digital asset investment firm CoinShares’ weekly digital asset fund flows report. Fast facts Cryptocurrency markets remained soft, with Bitcoin seeing US$6.9 million of outflows. Trading volumes in investment products totaled just US$1.58bn for […]
Korean banks extend crypto contracts; Axie Infinity tokens surge
Korean banks extend partnerships with crypto exchanges — for now. And also in Korea, how to earn crypto during bathroom breaks.
Gravity DEX brings DeFi into Cosmos network’s orbit
Cosmos’s DeFi capital pulling power is set to get stronger as Gravity DEX launches, with Gravity Bridge and the Emeris DeFi portal on the way.
Derivatives will be crypto’s ‘next big thing’ says 100x CEO
Crypto industry gets the ‘overleveraged’ label and authorities are cracking down on derivatives providers. Alexander Höptner of 100x believes the pushback foreshadows the industry’s next big thing — derivatives.
Secret Ukraine crypto farm shut down amid suspected power theft
Cryptocurrency miners blamed for blackouts as government eyes excess electricity for mooted state crypto mining operation.
Hong Kong manga finds virtual home on blockchain as authorities silence publishers
NFTs offer haven as authors self-censor amid intensifying crackdown on free expression.
Huobi’s public blockchain expands with Animoca, CoinMarketCap and DeFi projects
Huobi Eco Chain, an open-source, decentralized public blockchain, today announced 11 new partners, including Hong Kong-based blockchain gaming company Animoca Brands and crypto data website CoinMarketCap — which is owned by Huobi rival Binance — that will run validating nodes to improve the stability and decentralization of the network. Fast facts Other new validators include […]
IBC Group moves out of China; Pavilions Hotels to accept crypto
IBC Group becomes the latest to seize Bitcoin and Ethereum mining operations in China as crypto gets the nod from Pavilions Hotels and Resorts.
Cryptocurrency tax holiday gets South Korean lawmaker’s vote
A legislator from the ruling Democratic Party of Korea today announced a proposal to defer tax on virtual assets for one year, after which income derived from cryptocurrencies would be treated as financial investment income for tax purposes. Fast facts Noh Woong-rae proposed deferring the levying of tax on income from crypto transactions until January […]
Musk sells memecoin fans another pup with Baby Doge
Elon Musk has once again sent a coin’s price skyward with a simple tweet; this time more than doubling the price of the memecoin Baby Doge by inserting its name into the lyrics of popular children’s song, “Baby Shark”. Fast facts Replacing the title of the song with the name of the coin, the tweet […]
Huobi to impose tighter OTC trading restrictions
Crypto exchange Huobi yesterday issued an announcement in simplified Chinese saying that it would implement a “T+1” withdrawal freezing time for all over-the-counter trades, meaning that traders can transfer cryptocurrency out only 24 hours after depositing it. In some cases, the freeze will last up to 36 hours. Fast facts At present, the announcement appears […]
Crypto exchange Coinbase to launch crypto app store in international strategy
Nasdaq-listed Coinbase, the largest cryptocurrency exchange in the United States, announced today its plans to expand its business internationally as it seeks to improve its asset-listing process and build a crypto app store. Fast facts: “We’re seeing crypto quickly mature from its initial use case of trading bitcoin to the trading of thousands of new […]
Evangelizing to different investor profiles
Millennials and Gen Z Millennials have earned the reputation of disrupting or killing traditional industries, and the financial sector is no exception. The disconnect between millennials and traditional investments is the result of various factors, such as their firsthand experience with the long-term effects of the 2008 global recession on assets and investments, as well […]
Tokenized asset market sizing and analysis
How value is created Our methodology for calculating the value of this market includes tokenized commodity, energy, currency (i.e., stablecoins), gold and real estate projects. Calculations include publicly listed projects found via Blockexplorers. It excludes cryptocurrency, as it’s a native digital asset, as well as DeFi projects because of their extreme volatility. All tokenized assets […]
Hong Kong’s Securities and Futures Commission’s new crypto rules will hinder opportunity
Hong Kong’s Securities and Futures Commission chief, Ashley Alder, kicked off a firestorm during Hong Kong FinTech Week 2020 by announcing a plan to regulate all cryptocurrency exchanges that operate in the city or target its citizens. These new proposed rules would replace a voluntary framework introduced in 2019 that allowed exchanges to opt in […]
China’s Agricultural Bank launches fintech center in ‘smart city’ of Xiong’an
Agricultural Bank of China has set up a fintech innovation center in Xiong’an, a model for a so-called smart city.
Huobi bans users in China, Taiwan from crypto derivatives trades
Chinese cryptocurrency exchange Huobi has stopped providing crypto derivative trading services to users in China and Taiwan.
Why big investors are pouring money into blockchain data analytics for crypto
Nansen, a Singapore startup, is the latest darling of venture capitalists like Andreessen Horowitz (a16z) bullish on the growing field of crypto analytics.
Digital asset exchange infrastructure geared for high-volume trading
Managing trading volume and geography The importance of having the right infrastructure to drive an exchange – any exchange, not just ones for digital assets – cannot be overstated. It provides the engine that lies behind every software platform. Investors need to know they can execute trades without outages or other interruption. As well, they […]
FATF: Most countries have yet to implement anti-terrorism crypto ‘travel rule’
Why are so few adopting FATF guidance for VASPs? Money laundering watchdog decries ‘continued misuse of virtual assets through jurisdictional arbitrage.’
South Korean crypto exchange fee revelations deal blow to sector’s credibility
Payment for listings raises questions over integrity of cryptocurrencies’ credit scores as compliance deadline nears.
Bitcoin not ideal for cyber crime, says Filecoin Foundation chair
Bitcoin was recovered by the FBI from the Colonial Pipeline ransomware cyber criminals DarkSide, sparking privacy concerns around cryptocurrencies.
What will Ethereum’s London hard fork do as an upgrade?
A major Ethereum upgrade via London hard fork — which experts call a ‘seismic shift’ for the industry — is coming soon. Are ‘Ethereum killers’ doomed?
Tesla, Facebook and Netflix stock tokens launch on Solana blockchain
Swiss-based Digital Assets AG, a firm focused on the design of tokenized stock infrastructure, has launched over 50 tokenized stocks on the Solana public blockchain.
Suspects arrested in US$500M ransomware crypto laundering case
Law enforcement agencies in several countries have arrested suspected members of a crypto-linked cybercrime group believed to be responsible for laundering more than US$500 million from ransomware attacks.
Iron Finance’s DeFi bank run — and how Mark Cuban got ‘rekt’
Iron Finance, once a DeFi darling, went from billions to bust in a day. Should investors have seen the crash coming? How stable are algorithmic stablecoins?
Crypto clampdown hits Sichuan; Dtravel launches Airbnb rival | The Daily Forkast
China’s crypto clampdown reaches Sichuan. A sneak preview into how China’s digital yuan works.
How DeFi exchanges like SynFutures may challenge TradFi and CeFi
Singapore-based decentralized exchange SynFutures has closed a $14 million series A round to bring crypto derivatives to new users around the world.
Airbnb to face decentralized rival as Dtravel launches
Former executives from online travel platforms have partnered with Binance-backed Travala.com to launch an Airbnb-like decentralized home-sharing platform.
Yunnan warns miners over power use; WazirX faces gov’t heat | The Daily Forkast
China’s crypto mining crackdown continues while Indian finance authorities probe one of the nation’s largest exchange WazirX.
Who’ll blink first in India’s crypto stand-off?
India’s central bank has clarified that cryptocurrencies are not illegal, but that does little to prevent lenders from refusing to provide crypto-related services.
Plasm Network closes $10M fundraise to bolster Polkadot ambitions
With Kusama slot parachain auctions underway, the first starting next week, Plasm and Shiden networks prepare for a multi-chain future with Polkadot.
Indian crypto exchange WazirX in probe over US$382M in suspect transactions
India’s Enforcement Directorate has issued a show cause notice to cryptocurrency exchange WazirX for alleged foreign exchange violations involving 27.9 billion rupees (US$382 million).
How the layer 2 race is scaling Ethereum before ETH 2.0
While the world waits for Eth 2, blockchain developers like Enya.ai and OMG Network are trying to solve Ethereum’s scalability issues via layer 2.
Foreign crypto exchanges eye India despite regulatory uncertainty
Despite regulatory uncertainty over cryptocurrency trading in India, some of the world’s largest crypto exchanges are looking to enter the market.
Bitcoin hot in Singapore; China crypto mining bans widen | The Daily Forkast
El Salvador’s adoption of Bitcoin has the world buzzing. Can Singapore be next? China mining crackdown continues.
China’s biggest crypto exchanges blocked from internet searches, social media
Huobi, OKEx and Binance have been blocked by the country’s most popular internet search engines and social media platforms.
How NFTs are redrawing Asia’s art scene from artists to galleries
From Phillips auction house in Hong Kong to Art Fair Philippines, non-fungible tokens are redefining how Asia appreciates, buys and profits from art.
Weibo blocks crypto accounts as Chinese clampdown continues
Microblog platform Weibo has blocked more than 30 influential Chinese cryptocurrency-related accounts amid a series of actions by Beijing against crypto mining and trading.
Australia’s first Bitcoin capital growth fund gaining interest
Australia’s first capital growth fund to offer institutional exposure to BTC has announced its received inquiries from some of the country’s largest companies.
What blockchain games like Alien Worlds say about life outside metaverses
In a special Q&A, Sarojini McKenna of Alien Worlds discusses play-to-earn gaming, digital assets like Trilium, and lives increasingly lived inside virtual worlds.
Luno crypto exchange looks to expand into Indonesia and SE Asia
Global crypto exchange Luno is in talks with conglomerate Lippo Group to launch operations in Indonesia in order to enter the Southeast Asian market.
Criticisms of Tether’s reserves are unfounded, says Bitfinex CTO
After Tether’s legal settlement with New York, USDT’s growth is exploding—dispelling concerns over Tether’s reserves, says Bitfinex CTO Paolo Ardoino.
Governments meet crypto industry; Hope for Bitcoin miners in Sichuan | The Daily Forkast
Governments meet up with the crypto industry to discuss how to regulate the booming industry as BC Group’s OSL ties up with SC Ventures.
Is India’s central bank greenlighting crypto? Bitcoin fees fall to new lows. Cardano rolls out Alonzo upgrade for DeFi.
Other top blockchain and crypto news: Thailand’s SEC tries to rein in DeFi via regulation. Will China’s future DCEP digital yuan offer smart contracts?
WazirX launches India’s first NFT marketplace
WazirX launched the country’s first NFT marketplace on Tuesday, featuring artists from India and other South Asian nations.
Cardano rebounds 15% as Alonzo smart contact testnet launches
Following the launch of Cardano’s first testnet for its smart contract platform, Alonzo, ADA’s price rebounded by 15% on Monday morning to reach US$1.65.
Bridging the DeFi data gap with indexing blockchain data
Blockchain technology has massive data requirements, but the data can be difficult and costly to access. What are some of the solutions?
Vitalik Buterin speaks: What lies in the future of Ethereum?
Breaking into occasional Mandarin at a Hong Kong conference, Ethereum’s visionary creator tells all — including why Ethereum 2.0 is taking so long.
Can Elon Musk shrink Bitcoin mining’s carbon footprint? PancakeBunny’s $200 million hack. Ray Dalio admits to owning crypto.
Other top blockchain and crypto news: Australia signals progressive approach to crypto as Hong Kong moves closer to banning retail crypto trading.
China’s cryptocurrency mining sector becomes target of fresh clampdown
Chinese authorities’ latest regulatory offensive against the crypto industry may not be as bad for the sector as it appears.
Solana gets Coinbase listing after SOL prices surge amid crypto market crash
Coinbase Pro adds Solana’s native token, opening the doors for US investors after SOL outperforms Bitcoin and most other cryptos amid market crash.
Bank on change: DeFi’s challenge to traditional finance and fintech
As mainstream finance embraces decentralized finance, neither it nor its younger challengers are likely to escape the evolutionary forces at work.
Thailand’s The Brooker Group still bullish on crypto, planning US$3M investment in DeFi
The Booker Group announced that it now holds approximately US$35 million in crypto and plans to invest US$3 million into DeFi in Q2.
What’s really behind the Bitcoin market crash? Tether USDT lifts veil on reserves. Facebook-backed Diem going to California.
Other top blockchain and cryptocurrency news: BlockFi’s accidental BTC millionaires. China’s Inner Mongolia asks citizens to report illegal crypto mining.
Bitcoin appears to stabilize after dramatic correction
The world’s biggest cryptocurrency may have found a new trading range after being battered yesterday following an apparent Chinese clampdown on cryptos, partly reversing losses of around 30% seen when investors dumped their coins on Wednesday.
Digital dollar’s values to fortify USD hegemony, says ex-CFTC chair
Former CFTC chairman Chris Giancarlo and Accenture’s David Treat are not in a CBDC race, but a ‘contest’ to develop money that reflects societal values.
Bitcoin long positions worth $1.5 billion liquidated amid crypto crash
Around US$1.5 billion of Bitcoin long positions were liquidated today across some of the world’s top crypto exchanges, including Binance and FTX, according to Bybt data.
Audience fave ‘Charlie bit me’ video to be auctioned off as NFT
The home video that has been viewed more than 880 million times is set to be sold as NFT to highest bidder — and then deleted forevermore from YouTube.
Led by Cardano ADA, green cryptos rise as Bitcoin, wider market sinks
ADA price holds strong as investors shift to greener cryptocurrencies and Cardano smart contracts get set to launch blockchain into DeFi and NFTs.
DBS Bank rolls out crypto estate planning for the ultra-rich
What will happen to your Bitcoin keys and crypto wallets when you die? Southeast Asia’s largest bank will now take care of it all for the super wealthy.
China’s miners on Tesla’s Bitcoin 180; Animoca Brands — a star is born | The Daily Forkast
Asia’s crypto industry reacts to Tesla backtracking Bitcoin payments, while Animoca Brands raises US$88,888,888 in a new funding round.
Crypto markets crash as Tesla stops taking Bitcoin for payments
Elon Musk drops ‘fossil fuel’ Twitter bomb on Bitcoin, triggering a BTC price crash and dragging down Ethereum, Dogecoin and Shiba Inu.
How FTX crypto exchange won over 1 million investors and grew 25-fold
FTX crypto derivatives exchange pioneered TRUMP crypto futures and now dwarfs Coinbase in trading volume. Is going public in FTX’s near future?
US dollar dominance waning as CBDCs enter global spotlight
Global US dollar reserves touched a 25-year low in Q4 2020, according to a new IMF report. Will a digital euro and e-RMB muscle in?
ICP takes crypto world by storm. Will Ethereum be the next Bitcoin? Goldman Sachs launches crypto trading desk.
Other top blockchain and cryptocurrency news: How Dogecoin copycat SHIB coin vaulted into crypto’s top 20. China unveils fingerprint ID for digital yuan.