Search results: USDC

Most countries allow only government to mint currency, but in the land of public-private partnerships, legal tender HKD notes are issued by private banks.

PayPal launches stablecoin. Traditional gamers take on NFTs. Tough times ahead for Huobi.

Rumors of arrest and insolvency plague the Huobi cryptocurrency exchange, which enjoys close ties to the Tron founder Justin Sun. How will Huobi respond?

As explored in the first installment of this two-part series, crypto funding is being used to provide small but important items to troops on the frontline. But beyond the battlelines, how can crypto help get aid to civilians in times of crisis?

Speaking at the WebX Asia conference in Tokyo, Circle’s Singapore-based vice president of strategy and policy discusses U.S. regulation, growing pains in the crypto industry and Asia’s burgeoning role as a Web3 innovator.

Arkham Intel Exchange on Monday said two blockchain sleuths had won the bounty for new evidence of wallets owned by Terraform Labs and its imprisoned co-founder Kwon Do-hyeong.

Shinhan Bank, the second largest bank in South Korea, and SCB TechX, the technology unit of Siam Commercial Bank, the oldest bank in Thailand, announced on Tuesday that they completed a second stablecoin transaction trial on the Hedera, a public distributed ledger network. 

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.

As the US is engulfed in regulatory strife, Asian countries are rolling out legal frameworks that attract crypto investment, protect consumers and encourage innovation.

Bitcoin rose to US$31,736 on Friday, bolstering Ethereum to above US$2,000, after the court ruled that the sale of XRP did not constitute a security. Bitcoin needs a close above US$31,000 to pave the way for US$32,500, market experts told Forkast.

Bitcoin dropped on Thursday morning in Asia to below US$30,500. Ether and most other top 10 non-stablecoin tokens also logged losses.

While Asia nations such as Singapore and Thailand seem to be following the U.S. regulator in frowning upon certain products offered by crypto exchanges, the approach in Asia so far seems to be clarity instead of court battles, in contrast with North America

A South Korean academic tracking on-chain data says Do Kwon, the imprisoned founder of the now collapsed Terra-Luna crypto project, seems to have outside help in moving stablecoins from his digital wallets into other cryptocurrencies.

Geisha, kimono, tea ceremony — the Japanese city of Kyoto is a place rich in traditional culture. But as the national government pivots toward the cutting edge potential of digital assets and Web3, the city is this week playing host to one of Asia’s largest crypto get-togethers.

Top blockchain and crypto news: Binance.US at risk. Ex-SEC official’s comments complicate Ripple suit. Hong Kong lawmaker aims to entice exchanges.

All top 10 cryptos, including Binance’s BNB, gained on Tuesday afternoon trade in Asia for the first time this week amid ongoing lawsuits with the U.S. SEC.

The SEC’s one-two punch of Coinbase and Binance couldn’t have come at a better time for Hong Kong and Singapore, as US crypto firms look to shift to friendlier shores, writes Hamilton Keats of Krayon Digital.

Virtual assets will receive the same regulatory clarity in Hong Kong as their real-world counterparts, says former Hong Kong SFC regulator Angelina Kwan.

The collapse of Silicon Valley Bank and others led to predictions of big shifts away from centralized finance. James Wo examines why that hasn’t happened yet.

Bitcoin gained 1.71% and Ether climbed 2.35%. Polygon gained the most in 24 hours followed by Tron.

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?

Circle Vice President of Global Policy Corey Then says he is optimistic that U.S. regulatory developments can eventually benefit local players despite ongoing scrutiny.

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 dropped 2.09% in Tuesday afternoon trade in Asia while Ether lost 0.81%. BNB fell 2.93% and Polkadot declined 2.66%.

Seychelles-based cryptocurrency exchange Bitget expects more clarity on Hong Kong’s licensing regime from June as the city pushes ahead with plans to attract blockchain and cryptocurrency entrepreneurs.

Bitcoin dropped below US$29,000, while Ether fell below US$1,900 on Monday afternoon in Asia. Binance’s BNB was the only token in the top 10 cryptocurrencies to rise.

Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority, urged local lenders to provide banking services to regulated crypto firms.

The current US approach to regulating crypto flies against its history of supporting tech innovation and undermines its own national interest, writes Hamilton Keats of Krayon Digital.

The U.S. House Financial Services Committee is set to hold a hearing on April 19 to discuss a draft bill released over the weekend on regulating stablecoins, a class of digital currency designed to offer price stability by being pegged to another asset’s value.

Securing keys is an issue that has bedeviled the crypto world, as the $600M Ronin and $300M Wormhole heists have painfully shown. Is there a better way?

A hacker took advantage of an old contract from Yearn Finance on Thursday to steal US$11.6 million in stablecoins.

NYDFS superintendent Harris called the idea of Operation Choke Point 2.0 “ludicrous,” but industry participants largely disagree. Was the shutdown of the three largest crypto-friendly institutions a coordinated effort to unbank crypto?

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.

Amid the current banking crisis, each side is exhibiting disdain for the other when neither holds the moral high ground, writes Rachel Lin of SynFutures.

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

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.

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

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?

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.

Top blockchain and crypto news: Banking woes boost Bitcoin. Arbitrum counts down to launch. Chinese billionaire faces US crypto scam charges.

The Bitcoin Fear & Greed index rose to a 16-month high of 68 points today, signaling that investors are becoming more greedy than fearful.

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

New York Community Bancorp will assume all deposits and certain loan portfolios of the failed Signature Bank, the FDIC said on Sunday.

As the U.S. banking system stared into the pit of bank runs and collapsing share prices, the authorities acted swiftly to try and pull everything back from the edge. However, Bitcoin seemed unperturbed. Is this what a safe haven looks like?

As bank after bank topples, fingers are pointing everywhere. But crypto is not to be blamed for this unfolding crisis, writes Winston Hsiao of XREX.

Bitcoin and Ether dropped in Thursday morning trading in Asia along with most other leading tokens amid broader concerns about bank liquidity.

The decision to shut down Signature Bank at the weekend was not related to cryptocurrencies, the New York regulator told Reuters on Tuesday.

Bitcoin and Ether continued strong price gains, with most of the top 10 non-stablecoin cryptocurrencies logging advances for the past seven days.

Bitcoin, the world’s largest cryptocurrency, rallied past the US$26,000 mark at 09:15 p.m. in Hong Kong, shortly after the release of the United States Consumer Price Index (CPI)

The recent U.S. banks fallout is a stress test for both traditional finance and digital assets but to weather the storm side by side is a powerful opportunity, says Circle Chief Strategy Officer Dante Disparte.

Bitcoin and Ether rose the most in the top 10 non-stablecoin cryptocurrencies by market capitalization on Tuesday afternoon in Asia. Cryptocurrencies have been on a rebound since U.S. regulators took charge of the failures in the banking industry and moved to protect deposits across crypto-linked banks.

Bitcoin continued to gain in morning trading in Asia, as regulators acted to backstop the U.S. banking industry. Most of the top 10 cryptocurrencies gained.

The recent U.S. bank failures are proof that the banking system is introducing systemic risks to the crypto industry, not vice versa, says Circle chief strategy officer Dante Disparte.

Euler Finance, a decentralized finance lending protocol has lost approximately US$197 million in an exploit, according to online crypto security analysts.

Bitcoin and Ether gained in Monday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization, after U.S. regulators took charge of Silicon Valley Bank and Signature Bank, both with exposure to crypto industry, protecting deposits and confirming that no losses will be borne by the taxpayer. 

Bitcoin and Ether led a rebound in cryptocurrencies in Asia morning trading as U.S. regulators backstopped banks with ties to the crypto industry.

USDC issuer Circle said Friday that it is withdrawing from “certain services that involve” California-based cryptocurrency bank Silvergate.

Hong Kong’s proposed crypto licensing regime received Huobi Global’s pledge to return to the city, and more companies may follow, industry experts told Forkast.

Bitcoin fell below US$24,000 in a mixed morning for the top 10 non-stablecoin cryptocurrencies by market capitalization on Monday in Asia.

The cryptocurrency industry this week reacted to the recent moves by U.S. authorities against Kraken and Paxos. Meanwhile, India has been calling for a collaborative approach to crypto regulations.

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

Binance Holdings Ltd., the world’s largest cryptocurrency exchange, acknowledged it mistakenly stored customer funds in the same wallet holding collateral for its Binance-pegged tokens, known as B-Tokens

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

Binance Global, the world’s largest crypto exchange, has acknowledged flaws in its systems that allowed its BNB Smart Chain-based BUSD stablecoin to be under-collateralized by up to US$1 billion on at least three occasions, according to a Wednesday report from Bloomberg.

Wyre Payments, a San Francisco-based crypto payments firm, will implement withdrawal limits for user accounts, it said in a Twitter statement on Jan.7.

NEAR Foundation’s Marieke Flament believes that Web3-based social media platforms could gain popularity in 2023.

Cryptocurrencies had a turbulent 2022 to say the least. Blockchain technology made progress but that failed to offset the multiple bankruptcies and hacks that plagued the industry through the year.

Japan’s Financial Services Agency (FSA) reportedly plans to allow the circulation of foreign-issued stablecoins in the local market next year.

Bitcoin and Ether fell in Thursday morning trading in Asia, along with all other non-stablecoin top 10 cryptocurrencies. Polkadot led losses with a drop of more than 2%, with Cardano and BNB following close behind.

Bitcoin prices rose Wednesday morning in Asia amid a week of volatile price movements in end-of-year trading.

The deal will need approval in a court hearing on January 5 and also faces a vote by creditors under Voyager’s chapter 11 bankruptcy filing.

Bitcoin and Ether prices fell in Tuesday morning trading in Asia as concern about the stability of crypto exchanges and a possible global recession continued to weigh on markets.