Terra-Luna cofounder Daniel Shin may face fraud charges in South Korea, prosecutors say
South Korean prosecutors may charge Terraform Labs cofounder Daniel Shin with fraud for promoting the Terra stablecoin as a payment method despite multiple warnings from financial regulators that it was against the law.
Changpeng Zhao says Binance has ‘no negative balances involved’ in proof of reserves
Changpeng Zhao tweeted that Binance’s proof of reserves have “absolutely no negative balances involved” after the exchange released its PoR on Friday.
Bitcoin price follows slide in Asia equity markets amid growing China protests against Covid-19 lockdowns
Reports of civil disobedience, protests and clashes with the police in cities and universities in China are unnerving financial markets in Asia
Australian fintech firm launches new AUD stablecoin, AUDE
Australian blockchain fintech startup Ettle Pty Ltd. has completed the first transaction on its recently launched Australian dollar-pegged stablecoin, AUDE.
Markets: Bitcoin little changed, Dogecoin leads pack in muted morning of trading
Bitcoin was little changed in Monday morning trading amid mixed results from the other top 10 non-stablecoin cryptocurrencies following a relatively muted few days of trading over the Thanksgiving weekend in the U.S.
Singapore’s Matrixport eyes US$100 mln fundraiser at US$1.5 bln valuation
Singapore-based crypto lender Matrixport is hoping to raise US$100 million at a valuation of US$1.5 billion, according to a Bloomberg report citing unnamed sources.
Binance releases proof of reserves
The world’s largest cryptocurrency exchange Binance released its proof of reserves (PoR) on Friday to provide transparency on user funds.
Can crypto return?
Terra, 3AC and now FTX, it’s been a difficult year, but can crypto come back stronger?
Sam Bankman-Fried could face decades in jail if convicted of law violations in FTX collapse, lawyers say
The former CEO of the collapsed crypto exchange “needs to keep his mouth shut” and stop making public comments that could be used against him in future court cases, lawyers tell Forkast.
Markets: Bitcoin, Ether fall; Litecoin leads decline across most top 10 crypto
Bitcoin and Ether fell in Asian trading on Thursday afternoon, with Litecoin seeing the steepest drop in declines across most top 10 non-stablecoin cryptocurrencies ranked by market capitalization
S.Korean Wemade’s stock falls 30% after exchanges announce WEMIX token delisting; CEO blames Upbit exchange
The delisting poses a great obstacle to the game maker’s growing blockchain empire, while Wemade’s CEO blames the crypto exchange
MetaMask says “we changed nothing” in response to criticism update collects more user data
ConsenSys, which operates the popular cryptocurrency wallet MetaMask, said an update to the wallet has made no change to the data the platform collects from its users, only the wording had changed.
Stablecoin project Ardana on Cardano halts operation
Ardana, a stablecoin project being built on the Cardano blockchain, announced the project has been halted due to funding and uncertainty over its timeline.
Singapore police say they are investigating crypto lender Hodlnaut on fraud allegations
Singapore’s white-collar crime unit is investigating Hodlnaut on allegations of fraud, according to a statement on the website of the Singapore police dated Nov. 23.
Binance says it will set up US$1 billion ‘recovery’ fund for distressed crypto businesses
Binance said it will establish a US$1 billion fund for its “Industry Recovery Initiative” to mitigate the damage from the collapse of the FTX exchange.
Binance CEO Changpeng Zhao says he should have tweeted sooner about FTX woes
The chief executive officer of Binance, Changpeng Zhao, regrets sending ‘too late’ a tweet that contributed to the collapse of FTX.com.
Markets: Bitcoin little changed, Ether rises ahead of ‘Shanghai’ upgrade, XRP climbs
Bitcoin traded little changed Friday morning in Asia, while Ether rose amid a mixed performance by the top 10 non-stablecoin cryptocurrencies by market capitalization.
Crypto exchange Bybit establishes US$100 million fund to aid institutional clients
Crypto exchange Bybit has established a US$100 million fund to support its institutional clients
Russia plans launch of national crypto exchange
Russian lawmakers aim to launch a national cryptocurrency exchange, supported by the country’s Ministry of Finance and the Central Bank of Russia.
Scam Center Slavery?
It’s no secret that crypto scams and fraud are abundant – but those doing the scamming might be victims of something even more sinister.
India’s CoinDCX crypto exchange publishes proof of reserves
Cryptocurrency exchange CoinDCX, India’s first crypto unicorn, published its proof of reserves on Thursday
Markets: Bitcoin, Ether extend gains; Solana leads rise across most top 10 cryptos
Bitcoin and Ether increased in Asia trade on Thursday afternoon. The top 10 non-stablecoin cryptocurrencies by market capitalization also mostly rose, with Solana leading gains
Fake crypto awards on the rise during football world cup: research
Global cybersecurity firm Kaspersky has warned against fraudsters taking advantage of football fans during the ongoing FIFA World Cup Qatar 2022.
Hex Trust bags virtual asset license from Dubai
Digital asset custodian Hex Trust received the MVP license from Dubai’s Virtual Assets Regulatory Authority on Nov. 24.
Question: How do financial rules work when rogue individuals run companies? Answer: Not very well.
Calls for tougher rules on cryptocurrency have been echoing ever louder through the offices of global financial regulators since the collapse of the FTX exchange. But the firm did not invent dodgy business practices, so what can regulators and the industry do?
Digital Currency Group seeks to calm investors over Genesis loans: reports
Barry Silbert of DCG disclosed his company owes a US$575 million loan and a US$1.1 billion promissory note to its subsidiary Genesis Global Capital.
US senators call for holding FTX executives accountable to fullest extent of the law
U.S. Senators Elizabeth Warren and Sheldon Whitehouse called for holding former FTX CEO “and any complicit FTX executives” to the fullest extent of the law.
Wallet linked to defunct crypto exchange BTC-e suddenly activates
A wallet address linked to defunct crypto exchange BTC-e sent its largest transaction since August 2017 on Wednesday.
Disgraced FTX founder SBF to speak at New York Times Dealbook Summit despite controversy
Sam Bankman-Fried will speak at a time when he’s reportedly facing investigations with FTX undergoing bankruptcy protection proceedings.
The crash and burn of FTX: What lessons does it teach us?
As FTX victims and creditors sift through the pieces, how much of this blowup should regulators have seen coming — and could it happen again?
Markets: Bitcoin, Ether rise as Fed minutes suggest an easing in interest rate hikes
Bitcoin and Ether were both trading up as the U.S. Federal Reserve released meeting minutes suggesting it is looking to slow the rate of interest rate rises.
Japan’s central bank to test digital yen with three megabanks: report
The Bank of Japan, the country’s central bank, will conduct experiments with three megabanks and regional banks on a digital yen, according to a report by Nikkei on Wednesday.
Tornado Cash developer Alexey Pertsev to remain in jail until February
Alexey Pertsev, a developer of the now-sanctioned crypto mixer Tornado Cash, has been ordered to stay in jail until Feb. 20 at least.
New York Attorney General eyes ban of crypto purchases through retirement funds
New York Attorney General (NYAG) Letitia James has recommended prohibiting crypto investments in defined contribution plans and individual retirement accounts (IRAs).
Genesis jitters keep investors on edge as contagion risks grow
Top blockchain and crypto news: Fear stalks crypto as Genesis wobbles. FTX cleanup begins. China’s NFT scene shrinks.
At FTX’s first bankruptcy hearing, lawyer calls out ‘substantial amount’ of missing, stolen assets
In the first day of FTX’s bankruptcy hearing, FTX counsel says the organization was run as ‘personal fiefdom’ of Sam Bankman-Fried.
India’s CoinSwitch launches platform to enable multi-exchange trading with single login
Indian crypto exchange CoinSwitch has launched CoinSwitch Pro, a multi-exchange trading platform that lets users trade crypto assets in Indian Rupees across multiple exchanges with a single login.
One Bad Apple?
A majority of downfall of FTX was caused by a handful of people, but who else is to blame?
Markets: Bitcoin, Ether prices rise as top 10 cryptos strengthen
Bitcoin and Ether strengthened in Asia trade on Wednesday afternoon, reversing some of their losses on Monday and Tuesday. Top 10 cryptocurrencies by market capitalization, except stablecoins, also increased.
Singapore’s DBS bank completes intraday repurchase transaction on JPMorgan’s blockchain-based platform
Singapore-based DBS bank, the largest lender in Southeast Asia, has said it is the first bank in Asia to complete an intraday repurchase transaction on a blockchain-based network.
S.Korea’s top regulator says digital assets, virtual assets are different
While the crypto industry grapples with the definition of blockchain-based digital tokens, South Korea wants to nail down the terminology.
CoinMarketCap launches proof-of-reserve tracker for crypto exchanges
CoinMarketCap has introduced a proof-of-reserve tracker for centralized crypto exchanges in a bid to improve transparency.
Coinbase CEO reaffirms exchange’s BTC holdings after CZ’s tweet
Coinbase CEO Brian Armstrong is reassuring users about the financial health of the Nasdaq-listed crypto exchange, following a tweet — since deleted — from CZ of Binance.
Crypto mining firm Foundry to buy mining sites from embattled Compute North
Crypto mining firm Foundry Digital LLC plans to acquire two turnkey crypto mining facilities in the U.S. from troubled Compute North.
S.Korea’s Ifland metaverse launches globally in 49 countries
South Korea’s telecommunications giant SK Telecom (SKT) is launching its Ifland metaverse in 49 countries in North America, Europe, the Middle East and Asia.
New York State passes two-year moratorium on some crypto mining facilities
New York became the first U.S. state to enact a temporary ban on new cryptocurrency mining permits at fossil fuel plants, despite lobbying against the measure.
Markets: Bitcoin, crypto rise as FTX contagion fears ease
Bitcoin recovered above US$16,000 in Wednesday morning trading as it rose along with Ether and the rest of the crypto top 10 by market capitalization, excluding stablecoins.
Regulators should seek greater disclosure from stablecoin issuers: HK monetary authority researchers
Regulators should seek more disclosure from stablecoin issuers, as stablecoins could transmit risk from markets to traditional finance, according to researchers at the Hong Kong Monetary Authority
Cathie Woods buys the dip as Ark Invest scoops up Coinbase, GBTC shares: Bloomberg
Cathie Wood’s Ark Investment Management has bought over 1.3 million shares of Coinbase Global since the start of November, and 450,000 shares of Grayscale Bitcoin Trust (GBTC).
Crypto exchange Bitget to expand workforce by 50%, registers in Seychelles
Cryptocurrency exchange Bitget plans to hire about 400 more staff, taking its total workforce to 1,200 by the first quarter of 2023, the company said in a statement on Tuesday.
SBF’s parents, FTX executives bought Bahamas property worth US$121 million: Reuters
The parents of Sam Bankman-Fried, along with senior executives of the now-bankrupt FTX, bought at least 19 properties worth nearly US$121 million in the Bahamas over the past two years.
Bitcoin falls under $16K as Genesis temporarily halted withdrawals and redemptions.
Cardano, blockchain payment firm Coti to launch algorithm stablecoin Djed in Jan 2023
Proof-of-stake blockchain platform Cardano and blockchain payment platform Coti will launch an algorithmic stablecoin Djed in January 2023
Warren Buffet’s Berkshire Hathaway warns of scam crypto site with same name
Berkshire Hathaway, the investment conglomerate run by billionaire Warren Buffet, has issued a warning about a fake cryptocurrency website that uses the Berkshire Hathway name.
Football most popular sport among crypto investors: KuCoin survey
Football is the most popular sport among crypto investors and 48% of fans among these investors are interested in trading fan tokens for sports teams during the FIFA World Cup, according to a new survey by Seychelles-based crypto exchange KuCoin.
Huobi plans Southeast Asia, Europe, Caribbean expansion
Huobi Global, one of the world’s largest cryptocurrency exchanges, plans to ramp up its investments in Southeast Asia and Europe as part of its global expansion, the company said in a statement on Tuesday.
Hong Kong residents spend most time online globally: NordVPN survey
Hong Kong residents spend the most time online – almost half of their lives – mainly watching videos on YouTube followed by scrolling through social media channels, according to a new survey by virtual private network provider NordVPN.
China’s foreign exchange bureau urges stronger legislation to regulate crypto trade
China should integrate legislation on cryptocurrencies in order to better regulate crypto tradings, said Huang Hui, a deputy director of the Supervision and Inspection Department of State Administration of Foreign Exchange.
Thai crypto exchange eyes Hong Kong for possible public share sale in 2024: report
Bitkub, one of the largest crypto exchanges in Thailand, is aiming to list in Hong Kong as early as 2024 when it goes public.
US senators urge Fidelity to drop BTC retirement plan after FTX collapse
U.S. Senators Elizabeth Warren, Dick Durbin and Tina Smith asked Fidelity Investments to rethink its decision to grant retirement plan exposure to Bitcoin.
FTX alleged hacker is moving funds to dodge authorities: analysts
The alleged hacker behind the theft of hundreds of millions of dollars from the cryptocurrency exchange FTX is moving the funds around to separate wallets.
Bitcoin price falls to more than two-year low amid growing concerns about FTX fallout
Investors are unnerved by the possibility of more failures among companies linked to the now bankrupt FTX exchange, fearing a repeat of the Terra-Luna stablecoin collapse in May that also brought down other businesses.
Binance says it will hire 600 by year end, bring total employees to 8,000
The world’s largest crypto exchange seeks to hire 600 more employees by the end of this year, its founder and chief executive officer said.
Coinbase Custody holds 635,000 BTC on behalf of Grayscale that refuses to share proof of reserves
Coinbase Custody Trust, the institutional investment arm of Coinbase Global, holds 635,000 BTC on behalf of Grayscale Bitcoin Trust, according to a note by Coinbase Custody CEO Aaron Schnarch. Digital investment firm Grayscale has also declined to share proof of reserves, citing security concerns.
FTX Japan readies for resumption of withdrawals by end-2022: report
FTX Japan, a subsidiary of the now-bankrupt FTX.com, is preparing to resume withdrawals by the end of 2022 to Japanese customers, said an unnamed FTX Japan executive to local broadcaster NHK
Singapore’s central bank says not possible to protect local users from FTX fallout
The Monetary Authority of Singapore (MAS) said on Monday that it was not possible for the central bank to protect local users from FTX’s collapse as the crypto exchange operated offshore and was not licensed by MAS.
Do all Web3 projects need a token?
Should we be questioning which Web3 projects need tokens?
Markets: Bitcoin, other tokens add to losses in Asia trading Monday
Bitcoin and Ether extended their losses through late Asian trading on Monday, as did all the top 10 non-stablecoin cryptocurrencies by market capitalization. Dogecoin was the biggest loser.
S. Korea mulls requirement for digital asset exchanges to compensate sudden withdrawal suspension￼
South Korea’s FSC is considering a requirement that crypto exchanges offset investor losses for the sudden suspension of withdrawal services.
Bitcoin mining difficulty reaches all-time-high despite slump in price, FTX woes
Bitcoin mining difficulty rose 0.51% to an all-time-high in Monday’s biweekly adjustment, according to BTC.com.
FTX failed because of humans, not crypto
Human greed and deception led to FTX’s fall. That’s why the antidote is not more regulations but could be found in blockchain’s original promises, writes Marieke Flament, CEO of NEAR Foundation.
SEC gets support from New Sports Economy Institute in XRP lawsuit against Ripple
The U.S. SEC has received support from sports investing group New Sports Economy Institute, which submitted its amicus brief on Friday to weigh in on the ongoing lawsuit between the SEC and Ripple.