Filecoin on a tear as cautious optimism returns to crypto markets
Top blockchain and crypto news: Filecoin leads in market uptick. CryptoPunks in new glow as Tiffany jewelry. Chinese firms flock to Singapore.
Why DeFi remains attractive to institutions in a bear market
Despite the bleak macro outlook, more institutions are looking to gain exposure to the DeFi sector, writes Robert Alcorn of Clearpool. Here’s why.
IMF warning shrugged off; US stablecoin bill race
The crypto market shrugs off IMF’s predicted recession risk. Also, U.S lawmakers racing to introduce the stablecoin bill.
Voyager gives Sam Bankman-Fried’s ‘low-ball’ bailout offer a single digit
Top blockchain and crypto news: SBF’s Voyager rescue deal spurned. Tesla pulls U-turn with BTC sale. Tencent cuts local NFT staff as it looks abroad.
Tesla’s Bitcoin bump; Zipmex freezes withdrawals
Bitcoin drops after Tesla sells 75% of its bitcoin holdings. Meanwhile, South Korean authorities raid 15 companies as part of their Terra Luna investigations.
The Lummis-Gillibrand bill could reshape global crypto regulations
As a world leader, the US now offers a regulatory template for crypto that others are sure to follow, writes Michael Shing of XREX. Here are the key provisions.
Touchdown: How ex-NFL players are helping college athletes score with NFTs
As the NFT market slumps, some savvy former American footballers and their business partners have been spurred to push the technology’s potential.
Will Mt. Gox Bitcoin eruption smother hopes of rapid crypto recovery?
Top blockchain and crypto news: Payback time for Mt. Gox investors. USDC issuer strikes back as critics circle. Chinese bank fiasco hits a nerve.
Financial Stability Board calls for high regulatory standards for stablecoins
The failure of a crypto market player may have spillover effects on traditional finance such as short-term funding markets, says the Basel-based international body.
Why Singapore needs to rethink its approach to regulating crypto
Singapore wants to attract institutional capital while shielding its people from crypto — but it can’t have it both ways, writes Donovan Choy.
Stablecoins, USDC and the ‘Circle of trust’
Investor confidence in stablecoins has plummeted since the Terra fiasco. Circle’s chief of finance assesses how they’re holding up amid a barrage of “FUD”.
Circle says customers could redeem all of USDC in one day
In an exclusive interview with Forkast Editor-in-Chief Angie Lau, Circle Chief Financial Officer Jeremy Fox-Geen said reserves backing the so-called USDC stablecoin are ring-fenced from any potential fallout from the contagion engulfing crypto markets.
Sam Bankman-Fried’s Voyager debt emerges; Celsius reshuffles board
SBF’s Alameda Research debt to Voyager emerges. Meanwhile, South Korea agrees to cooperate with the US on Terra-Luna investigation.
Three Arrows Capital collapse sends tremors through crypto industry
Top blockchain and crypto news: Three Arrows target bankruptcy protection. Polium’s Web3 game plan pilloried. China’s tech giants get hands-on with NFTs.
Three Arrows, Voyager failures raise questions of who is next in crypto fall from grace
The crypto winter is killing off companies that took on big risks when markets were booming. So is this the shakeout all financial markets go through?
Crypto’s biggest problem is not volatility, but scalability
Notwithstanding this bear market, Web3’s more pressing issue is its inability to handle large volumes, writes Greg Gopman. Can sidechains offer a solution?
Monthly NFT sales fall below US$1 billion for first time in 12 months
Crypto industry sales are slumping, but it’s not just hedge funds and lenders that have been hit hard by the crypto winter. The NFT industry has also begun to feel the chill.
As the frenzy fades, what value do NFTs really have?
With NFT trading volumes slumping and regulators stepping in, Vignesh Sundaresan, who paid US$69 million for a Beeple artwork, shares his views on the space.
CFTC Commissioner Pham suggests regulators stay tech-neutral on stablecoins
The crash of Terra-LUNA threw the entire crypto space into a dark funk, and raised questions about the safety and role of stablecoins. CFTC Commissioner Caroline D. Pham offers a regulators’ viewpoint at a Forkast+ exclusive event.
Why tougher crypto regulations are urgently needed
Lack of public trust remain a big barrier to crypto adoption, writes Tristan Roozendaal. Here’s why regulators should ‘move fast and break things.’
Voyager calls time on Three Arrows as crypto fund teeters on the brink
Top blockchain and crypto news: Three Arrows fallout spreads. BIS calls BS on crypto. Chinese regulatory vacuum chills an NFT platform.
Singapore’s central bank says cryptocurrencies have ‘no fundamental value’
Whither Singapore in the cryptocurrency world? The Monetary Authority of Singapore has some views on that and as with most markets, there are winners and losers.
Warnings on crypto, Bitcoin have materialized, says central bank body BIS
Deeper structural flaws in crypto make it unsuitable as the basis of a monetary system that serves society, the Bank for International Settlements said in its annual report.
Mind the gap: Bridging the divide between DeFi and CeFi to grow yield
As traditional finance sector firms continue to seek upside crypto exposure, bringing DeFi yields to TradFi has a bright future, says B2C2’s Phillip Gillespie.
How a market slump may be helping Singapore’s stance against retail crypto
One door closes and another opens, which seems to be what’s happening in Singapore as the crypto price slump restructures the trading environment.
What is the right approach to regulating stablecoins?
Terra UST’s crash and burn is prompting calls for regulations. But lawmakers shouldn’t paint all stablecoins with the same brush, writes Alan Chiu.
Crypto winter ushers in account freezes as platforms feel the chill
Top blockchain and crypto news: Investors snowed in as liquidity crunch hits. Solend harpoons anti-whale maneuver. Chinese NFTs prove a tricky target.
Calls for policing NFTs gain ground as fraud cases rise
A perceived failure to address increasing fraud in the NFT industry prompts calls for regulation and the adoption of a more centralized approach to weed out bad actors.
Bitcoin, Ether recover as Fed guidance reduces policy uncertainty
Despite short-term volatility weighing on prices, an inevitable easing of monetary policy in response to the pandemic and other crises means Bitcoin and other cryptos will find value as a hedge against runaway inflation, market participants tell Forkast.
Cryptocurrencies take a pounding as inflation worries spark sell-off
Top blockchain and crypto news: Cryptos sink as inflation rises. Celsius freeze sends CEL token tumbling. Are Inner Mongolia’s miners catching a break?
Crypto on a roller coaster as market braces for Fed guidance on rates
Crypto markets posted some gains in Asia trading after a pummeling this week, but the sentiment shifted back to negative as markets across the board try to second-guess the Federal Reserve’s thinking on interest rates.
Has ‘Crypto Winter’ arrived with Bitcoin, Ether prices falling?
After what seems like a dead cat bounce, cryptocurrencies are falling again in Asian trade as markets head into the Federal Reserve’s announcement of its decision on interest rates on June 15.
Bitcoin, Ether bear brunt of market selloff amid fears of Fed rate increase
Still recovering from the Terra-LUNA debacle that wiped off billions of dollars in investor wealth, people sold off cryptocurrencies amid a market slump over expectations that the Fed will act faster to tame inflation.
Inflation bashes crypto market; South Korea’s new listing rules
Inflation hits crypto markets hard as Bitcoin drops almost 8%. Meanwhile, South Korean exchanges work on new rules to prevent another Terra Luna incident.
The metaverse isn’t a fad but part of the future economy
An open and interoperable metaverse economy will drive consumer activity — and it’s on a similar track for growth as e-commerce, writes Ben Caselin of AAX.
US crypto bill leaves ‘open question’ on securities: Tessler
A proposed US crypto bill may place crypto under the CFTC’s primary oversight, but that won’t exclude the SEC from the industry, Sidley Austin’s Lilya Tessler says.
On the shoulders of a giant: How a huge state fund is nurturing Web3
Singapore investment behemoth Temasek has been in the digital asset space for several years, and it’s doubling down on its commitment, says its blockchain chief.
Do Kwon loses appeal; India’s crypto pirate warning
As the Terra saga continues to unfold, Do Kwon loses an appeal against the SEC. Meanwhile, Circle’s head of policy slams CBDCs.
Crypto buyers in emerging economies find themselves caught between a rock and a hard place
Cryptocurrencies can offer citizens in emerging economies a potential buffer against runaway inflation and financial mismanagement by governments. But buying them increasingly means navigating onerous regulations and punishing taxes.