Search results: Tether

Bitcoin fell under US$30,000, despite the SEC accepting eight spot Bitcoin ETF applications for review this week. A weekly close under that psychological level could lead to more panic selling, industry experts told Forkast.

Police in China’s Shanxi Province made 21 arrests in relation to an alleged USDT money laundering scheme amounting to over US$54 million.

Stablecoins play a pivotal role as a safe-haven medium of exchange in times of high inflation, writes James Glasscock. But they’re not without risks.

The market now has 26,000 different cryptocurrencies and the total number of coins in circulation approaches infinity. How do those tokenomics make any sense?

A higher difficulty reading indicates it is more competitive to mine Bitcoin, reducing profit. The network’s hashrate also increased to a record high. 

The SEC sued Binance on Monday, amid mounting regulatory scrutiny of crypto exchanges. Industry experts shared insights on what this could mean for Binance and how it could drive crypto innovation out of the U.S.

Bitcoin fell Friday morning in Asia to trade below US$27,000. Ether and most other top 10 non-stablecoin tokens traded flat to lower. Litecoin gained.

Bitcoin’s mining difficulty level rose 3.4% on Thursday to an all-time high, as the network’s hashrate also increased to a record high.

Bitcoin traded above US$26,000 as the uncertainty around the U.S. debt ceiling negotiations caused global concerns over a potential governmental default. Crypto markets will stay muted until a deal is reached, Industry experts told Forkast.

Stablecoins are a key part of the crypto ecosystem, but banks like JPMorgan are now exploring deposit tokens as an alternative. Which is better, and why?

Investors remain cautious as U.S. debt talks continue despite slowing inflation and large NFT purchases.

Bitcoin and Ether prices fell on Friday morning in Asia. XRP gained after Hong Kong CBDC announcement by issuer Ripple.

Bitcoin prices rose on Thursday morning in Asia. Ether edged down, while other top 10 non-stablecoin cryptocurrencies by market capitalization gained.

Top blockchain and crypto news: Memecoin fever strains BTC network. Binance slams brakes on Bitcoin withdrawals. Chinese court allows crypto for repaying debt.

Cryptocurrencies in China can be legally used to settle basic relations debts such as exchange and labor, according to the Supreme People’s Court of China.

In the second installment of a three-part interview series, Geoff Kendrick, head of crypto research and EM FX West at Standard Chartered Bank, talks altcoins, stablecoins and the legitimization of crypto risk through central bank digital assets.

Bitcoin bounced around the US$28,000 mark as worries about bank failures were replaced by concerns about a recession in the U.S. Just for good measure, the IMF forecast the global economy will see its slowest growth in two decades.

The fall of Silvergate, SVB and Signature has left crypto firms scrambling for new banks. Will crypto banking head offshore for the long term?

Top blockchain and crypto news: USDC stabilizes after SVB collapse. Silvergate closes shop. China tightens financial supervision.

Top blockchain and crypto news: Blur’s success spurs changes at OpenSea. Is Binance eyeing US exit? Taiwan asset disclosure rules may include crypto.

Top blockchain and crypto news: Paxos halts BUSD issuance. Kraken faces disclosure charges. Beijing backs new blockchain research center.

Top blockchain and crypto news: BTC mining ETF outperforms. SBF under pressure as accusations mount. ‘China’s Instagram’ embraces NFTs.

Japan plans to introduce regulations by June this year that will allow domestic investors to trade certain stablecoins from overseas.

Top blockchain and crypto news: Where is Alameda Research’s money going? US tax loophole may give crypto investors a break. China’s blockchain momentum builds.

OKB, the utility token of OKX, jumped by up to 15% during Asia trading hours on Monday. OKT, the native token of the OKX Chain, was up 13%.

South Korea took a real shine to the metaverse in 2022, with the central government, regions and cities all interested in getting a piece of the virtual reality pie, despite criticism that the technology has a long way to go.

Several wallets associated with Alameda Research, the trading arm bankrupt cryptocurrency exchange FTX.com, came to life on Wednesday, swapping various tokens. 

The push to regulate DeFi is stronger than ever, and the sector would be wise not to fight but participate in that inevitability, writes Michael Shing of XREX.

Proof-of-stake blockchain platform Cardano and blockchain payment platform Coti will launch an algorithmic stablecoin Djed in January 2023

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.

Indian crypto exchange CoinSwitch’s proof of reserves summary, that was shared on Thursday, stated that as of Nov. 4, the exchange’s overall holdings of crypto and fiat balances in Indian Rupees (INR) exceeded those held by the exchange on behalf of its users.

Top blockchain and crypto news: FTX fallout spooks sector. Crypto.com’s $400 million ‘accident.’ Hong Kong’s new digital asset drive.

Bitcoin rose on Friday in Asia along with Ether and most other major tokens, reversing  a three-day slump as the Consumer Price Index (CPI) released Thursday showed inflation in the U.S. slowed in October.

By excising cryptocurrencies from the ecosystem, crypto-hostile China could steal a march in enterprise blockchain, says Red Date Technology chief Yifan He.

Tornado Cash, the Ethereum coin mixer slapped with sanctions by the U.S. Treasury back in August, has returned to the software hosting website GitHub amid a flurry of lawsuits against the Treasury for its action.

Bitcoin gained in Thursday evening trading in Asia and remained above US$20,000. Ether values fluctuated in the day but eventually rallied. Of the top 10 cryptocurrencies by market capitalization, XRP led gains while stablecoins Tether and Binance USD declined on the day. See related articles: Markets: Bitcoin dips but holds above US$20,000, Ether falls, XRP […]

Bitcoin continued trading above US$19,000 in Tuesday afternoon trading in Asia, rising above US$20,000 before declining. Ether and most of the other top 10 coins by market capitalization gained. See related article: Markets: Bitcoin price rises above US$19,000, Ether and rest of crypto top 10 gain Fast facts Bitcoin rose 3.85% in the past 24 […]

Bitcoin was back under US$19,000 in Monday morning trading in Asia, a level it has fluctuated around for most of the past two weeks, boxed in by global macroeconomic concerns that have also hit equity markets. Ether also fell. BNB was the only gainer among the top 10 cryptocurrencies by market capitalization. See related article: […]

India’s financial crime fighting agency has frozen additional cryptocurrencies worth around US$58,000 as part of an ongoing money laundering probe against mobile gaming application E-Nuggets and its former executive. See related article:  Indian authorities probe alleged $125 mln money laundering cases involving crypto, report says Fast facts The additional cryptocurrencies include WRX, the utility token […]

Polkadot updated its roadmap on Monday, expecting to deploy a technique called “asynchronous backing” on its development-testing network Kusama before the end of 2022, as a prelude to upgrading the mainnet for boosting the transaction speed. See related article: Markets: Bitcoin price back above US$19,000; Ether, Polkadot gain; XRP leads losers Fast facts See related […]

Bitcoin broke above the US$19,000 resistance level in Tuesday morning trading in Asia, as most other tokens on the top 10 list by market capitalization gained ground. XRP continued its slide from Monday to lead the decliners, but remains higher over the past seven days. See related article: Markets: XRP reverses gains, Bitcoin stuck under […]

Binance generated controversy when it told customers it would convert their holdings in three stablecoins to its own stablecoin. Some analysts say the concerns are overblown, others disagree.

Crypto exchanges in India say the number of female investors isn’t huge, but it is growing even as prices slide and new taxes eat into revenue.

Over a month after placing the Ethereum coin-mixing tool Tornado Cash under sanctions, the U.S. Treasury Department announced a way for Tornado Cash users to recover their funds on Tuesday.  See related article: Tether says didn’t freeze sanctioned Tornado Cash addresses so as to not interfere in investigations Fast facts The new guidance provides a […]

Top blockchain and crypto news: USDC gets the boot from Binance. MicroStrategy looks for Lightning strikes. STEPN heads to Hong Kong.

The world’s largest cryptocurrency exchange said the move was designed to “enhance liquidity and capital-efficiency for users.” 

Bitcoin held on to the US$20,000 mark, but was trending weaker in late Wednesday afternoon trading in Asia. Ether was also moving lower, along with most other top 10 coins by market capitalization. Cardano was the standout on the list with a marginal gain. See related article: Markets: Bitcoin dips back below US$20,000, Ether falls […]

The percentage of stablecoin USD Coin (USDC) supply held by the top 1% addresses dropped to a 22-month low on Monday, while USDC average trading volume in seven days surged to an all-time high on the same day, according to crypto data dashboard Glassnode. See related article: Vitalik Buterin says he used Tornado Cash to […]

ETHPoW, the token that will run on a potential Ethereum PoW fork, fell to an all-time low of US$50.36 on Thursday, down 64% from its Aug. 2 peak, according to CoinMarketCap.  See related article: Chandler Guo tells why he is the man who would hard fork Ethereum Fast facts The ETHPoW token is currently only […]

Bitcoin and Ethereum rose, along with nearly all other top 10 cryptocurrencies, in Thursday afternoon trading in Asia after the U.S. reported slower inflation in July and as Ethereum completed a test run for its upcoming shift to the proof-of-stake (PoS) model. See related article: Markets: Bitcoin, Ether rise with equities as US inflation shows […]

Binance will support Ethereum’s “Merge,” expected in September, and will evaluate if it would list any newly forked tokens, the world’s largest cryptocurrency exchange by trading volume said on Wednesday. See related article: USDC, Tether announce support for Ethereum proof-of-stake Fast facts Binance said it is closely monitoring the development of the merge, which could […]

Crypto’s volatility may be top of mind right now, but blockchain’s practical uses will be the industry’s future, writes Johannes Schweifer of CoreLedger.

WazirX users head for exits amid a dispute between Binance. Meanwhile, Circle and Tether announce support for the new ETH P-O-S.

Bitcoin and Ethereum fell in Wednesday afternoon trading in Asia, with almost all top 10 cryptocurrencies by market cap in the red. Solana was the biggest mover among the major coins, dropping 5.94% in the past 24 hours. See related article: Markets: Bitcoin falls as crypto market loses steam, equities dip ahead of inflation data […]

Circle Internet Financial Ltd., the issuer of the USDC stablecoin, froze over 75,000 USDC in funds linked to 81 sanctioned addresses at the cryptocurrency mixer Tornado Cash on Monday, according to data from crypto aggregator Dune Analytics. See related article: Bad actors in North Korea, Russia send record-high funds to crypto mixers Fast facts The […]

Singapore-based cryptocurrency exchange Bitget says it has launched a US$200 million “protection fund” to act as an “emergency insurance reserve” to protect user funds when their losses are not a consequence of their own actions or behavior on the platform.  See related article: How the crypto winter is laying groundwork for Web3 to reach its […]

Ethereum blockchain’s native token Ether (ETH) has surpassed Bitcoin (BTC) in the options market for the first time on Deribit exchange. See related article: Tether will support ETH 2.0 amid speculations of Merge delay Fast facts The cumulative dollar value of Ether options contract opens on Deribit was around US$5.7 billion, while open Bitcoin options […]

The ETH2 merge could once again be delayed. Meanwhile, Vitalik Buterin calls Michael Saylor “a total clown”.

Hoping to strike crypto riches, Joel Stein follows the footsteps of a master degen investor. Here are the secrets revealed to him.

Top blockchain and crypto news: Payback time for Mt. Gox investors. USDC issuer strikes back as critics circle. Chinese bank fiasco hits a nerve.

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”.

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.

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.

Top blockchain and crypto news: Investors snowed in as liquidity crunch hits. Solend harpoons anti-whale maneuver. Chinese NFTs prove a tricky target.

After a short-lived recovery, Bitcoin, Ether and other cryptocurrencies are trading lower on fears of a contagion risk from a possible financial implosion at Three Arrows Capital.

Terra’s LUNA/UST death spiral was entirely predictable — and it served as a stress test for better-designed stablecoins, writes Gytis Trilikauskis of MEV Capital.

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.

The downturn is forcing Web3 firms into a reset — and opening opportunities for Web2 entrepreneurs to enter the playing field, writes Lily Z. King of Cobo.

Wall Street did it! At least that is one of the theories about the cause of the nearly US$50 billion meltdown of Terraform Labs stablecoin and LUNA cryptocurrency. How does that stand up?

Advocates for central bank digital currencies argue their inherent stability supersedes any benefits so-called stablecoins, algorithmic or otherwise, could offer.     

The world’s third-largest cryptocurrency exchange in terms of trading volume Thursday said it acquired Latin American crypto exchange Bitex to expand its footprint in the region. See related article: Huobi Group poised to establish regional hub in Singapore Fast facts Though terms of the deal were not disclosed, Huobi said it plans to integrate Bitex’s […]

Terra’s LUNA and UST implosion is dragging down an already ailing market. What do other developments suggest about crypto’s long-term future?