Search results: Hong Kong

Bitcoin and Ethereum moved lower in Asia afternoon trading on Thursday, with Solana recovering from a price drop blamed on a hack of its network. Bitcoin was priced at US$22,927 as of 4:30 p.m. in Hong Kong, down 1.12% in the last 24 hours. Ethereum edged down 0.9% to US$1,621, according to data from CoinMarketCap. […]

The massive Solana wallet exploit that began on Wednesday Hong Kong time is believed to be related to the Slope mobile wallet app, while there is no evidence to show the blockchain’s code was compromised, Solana said. See related article:  Bitcoin, Ethereum little changed; Solana still lower after network hack Fast facts See related article: […]

Bitcoin was trending lower to little-changed in early Asia trading on Thursday with most major cryptocurrencies losing ground. Solana remained lower after reports of a hack on its network. Bitcoin was priced at US$22,848 as of 8 a.m. in Hong Kong, off 0.6% in the last 24 hours. Ethereum dipped 0.8% to US$1,615, according to […]

Solana fell 4% in Asia afternoon trading on Wednesday as reports surfaced of a hack that had drained thousands of wallets holding the token. Bitcoin and Ethereum edged higher, though U.S.-China tensions were a broader concern across all markets. Bitcoin traded at US$23,187 as of 4:30 p.m. in Hong Kong, up 1.47% in the prior […]

Approximately 7,767 wallets have been affected in the Solana exploit as of 1 p.m. Hong Kong time. Solana-based wallets Slope and Phantom are on the list, Solana said. See related article: Cardano users said to be indirectly affected by Nomad’s US$200 mln exploit Fast facts See related article: Waves community approves repayment plan for lending […]

Bitcoin was trending lower in early Asia trading on Wednesday with most major cryptocurrencies falling. Bitcoin was priced at US$23,048 as of 8 a.m. in Hong Kong, down 1.2% in the prior 24 hours. Ethereum was little changed at US$1,643, up 0.3%, according to data from CoinMarketCap. See related article: Bitcoin, Ethereum lose ground; Polkadot […]

The cryptocurrency market is trading down in general, with Bitcoin and Ethereum down 2.2% and 6.1% over the past 24 hours in Tuesday evening trade in Hong Kong. See related article: ETH crosses Bitcoin in options market for first time in history Fast facts Bitcoin was trading at US$22,843.99, while Ethereum was changing hands at […]

A stolen painting may be lost forever, but a fraudulent Bitcoin transaction — with these legal strategies and tracing tools — can lead right to the criminal.

Major cryptocurrencies were lower in early Tuesday trading in Asia, with Ethereum losing 3% in the past 24 hours to trade at US$1,634 as of 8 a.m. in Hong Kong. Bitcoin dipped 0.2% to trade at US$23,267, according to data on CoinMarketCap. See related article: Bitcoin, Ethereum fall back after posting monthly gains for July […]

Bitcoin and Ethereum were trading lower by 1.3% and 0.4% over the past 24 hours in Monday evening trade in Hong Kong. See related article: Bitcoin, Ethereum fall back after posting monthly gains for July Fast facts Bitcoin was trading down 1.3% at US$23,331.73 over the past 24 hours at 5:20 p.m. HKT on Monday, […]

Crypto exchange CoinFLEX has let go a “significant number” of employees to cut costs and focus on its core business, according to a blog post published by the platform’s cofounders Sudhu Arumugam and Mark Lamb. See related article: ‘We’re in a crypto super cycle,’ says CoinFLEX CEO Fast facts The staff cuts and non-staff costs […]

The cryptocurrency market continued its rally in afternoon trading in Asia on Friday, with Bitcoin and Ethereum up 4.4% and 5.7%, respectively, over the past 24 hours. See related article: Crypto continues tear while Vitalik Buterin says Eth2 ‘not priced in’ Fast facts Bitcoin was at one point changing hands above the US$24,000 mark in […]

Solana-based decentralized finance protocol Nirvana Finance was exploited in a flash loan attack for US$3.49 million on July 28, the firm announced in a Twitter post, causing its tokens to topple by more than 80%. See related article: C.R.E.A.M. Finance suffers $28M flash loan hack Fast facts Using flash loans on lending protocol Solend, the […]

A new report by Chainalysis shows that sanctioned actors, especially in North Korea and Russia, are sending record sums to crypto mixers.

Ethereum has been on a tear, gaining 14% in the past 24 hours. The world’s second-biggest cryptocurrency by market capitalization is now up ​​more than 47% in the past 14 days ahead of the Merge. See related article: Vitalik Buterin says Ethereum to be 55% complete post-merge Fast facts Ethereum is up 13.9% over the […]

Bitcoin quickly rebounded above US$21,000 coming into Asian trading hours on Wednesday after falling below the mark overnight since the International Monetary Fund (IMF) cut its global growth outlook for this year and next, warning that the world economy may soon be on the cusp of an outright recession. See related article: IMF says crypto crash […]

Hong Kong-based digital asset trading platform OSL has started selling security tokens to institutional investors via a private placement, with the first purchasers including blockchain game company Animoca Brands, according to a press release on Tuesday. See related article: Chinese logistics network plans US fundraise via tokenized offerings Fast facts Each security token represents a […]

Crypto prices fall ahead of the Fed meeting. Meanwhile, the Philippines pushes for a crypto tax.

Binance founder and CEO Changpeng Zhao is suing the Hong Kong publisher of Bloomberg Businessweek for defamation for an article published last month. See related article: Binance fined by Dutch central bank for improper registration Fast facts Zhao Monday filed a lawsuit in Hong Kong against Modern Media Co. Ltd., which publishes the Chinese edition […]

From 2021 to 2026, the metaverse real estate market is expected to grow by $5.37 billion, at a compound annual growth rate of 61.74%, driven by the growing popularity of mixed reality and cryptocurrencies, according to a report from global market research firm Technavio. See related article: K-pop logs in to the metaverse strung by […]

Singapore-based crypto exchange Zipmex said on Thursday night Hong Kong time (HKT) it will prolong its customer withdrawal freeze until Friday “to prevent any technical issues,” without specifying a time. See related article: Singapore’s MAS to further strengthen crypto regulations Fast facts See related article: Singapore crypto lender reportedly owes retail investors US$363 million

Singapore-based cryptocurrency exchange Zipmex became the latest firm to block customers from withdrawing their tokens, citing volatile market conditions and financial difficulties of its partners, reportedly Babel Finance. See related article: Celsius says users can settle for cash at a discount or go long on crypto Fast facts “Due to a combination of circumstances beyond […]

The decentralized finance (DeFi) lending protocol will use Pocket’s distributed network to increase access for decentralized app (dApp) developers across 50 blockchain networks.  See related article: DeFi lending platform Aave to ‘build Twitter on Ethereum’ Fast facts Pocket, which on Tuesday tweeted a Cointelegraph report on the partnership, offers Aave a distributed network of over […]

Tencent’s insurance business WeSure chief executive officer Alan Lau has officially joined Hong Kong-based blockchain and game venture Animoca Brands as chief business officer, Lau’s LinkedIn page showed on Tuesday. See related article: Tencent launches XR unit to develop ‘benchmark’ VR products Fast facts Lau will be responsible for managing all of Animoca Brands’ portfolio […]

Fresh claims that emerged over the weekend about the status of Circle’s USDC reserves cast doubts on the ability of the so-called stablecoin to maintain its peg. In a deep dive, Forkast examined the allegations and reached out to the company for its version of events.

China had more than 264 million digital yuan transactions, with a total volume topping 83 billion yuan (about US$12.3 billion), as of May 31, People’s Bank of China (PBoC) official Zou Lan said at a press conference on Wednesday. See related article: China’s PBoC wants to link e-CNY with Hong Kong’s Faster Payment System Fast […]

Animoca Brands has raised US$75 million in a new round of fundraising in a move toward an “open metaverse,” defying plummeting markets and a drop in non-fungible token (NFT) sales during the crypto winter season, the Hong Kong-based blockchain game specialist announced on Tuesday.  See related article: Animoca says crypto winter ‘a great time’ for […]

Shanghai released a policy paper setting a goal to cultivate its metaverse-related industry to a total value of 350 billion yuan (US$52 billion) by the end of 2025.  See related article: Hong Kong gears up for its first metaverse ETF Fast facts See related article: China’s zero-Covid policy realigning global economy, financial markets

For central bank digital currencies to enhance cross-border payments, issuing institutions must take functionality into account to avoid unintended barriers, a joint report by three international financial bodies says.

Binance’s third approval in Europe came after the Bank of Spain allowed its Spanish subsidiary to register as a virtual asset services provider (VASP), the world’s largest crypto exchange by volume said Friday.  See related article: SEC said to probe Binance for rule violation in 2017 initial coin offering: report Fast facts The registration will […]

CoinFLEX has entered arbitration in the Hong Kong International Arbitration Centre (HKIAC) to recover US$84 million from a “large individual customer,” according to a blog post published by the crypto trading platform’s cofounders Sudhu Arumugam and Mark Lamb on Saturday. See related article: Roger Ver says he will issue statement on default dispute with CoinFLEX  […]

Players are being educated to turn into writers, content creators, streamers or e-sports players as earnings from play-to-earn games aren’t enough to substitute for a day job.

In a letter to the U.S. Commerce Department, the National Association of Federally-Insured Credit Unions (NAFCU) warned that the cost of developing a central bank digital currency (CBDC) outweighs the “hypothesized benefits.”  See related article: Hong Kong to research retail CBDC cybersecurity with Israel, BIS Fast facts The organization’s July 5 letter was in line […]

Some of Animoca Brands’ most successful investments were made during the previous crypto winter, Gen Kanai, director of strategic partnerships at the Hong Kong-based blockchain gaming studio, told Forkast. See related article: Animoca Brands investments have crossed US$1.5B Fast facts In a sit-down interview with Forkast at the IVS Crypto 2022 event held in downtown […]

Genesis Chief Executive Officer Michael Moro confirmed on Wednesday the cryptocurrency brokerage was exposed to the now-bankrupt hedge fund Three Arrows Capital (3AC). See related article: Three Arrows Capital files for Chapter 15 bankruptcy Fast facts Genesis sold collateral and hedged downside once 3AC was unable to meet margin call requirements on a loan, Moro […]

Hong Kong-listed beauty app Meitu said on Friday it is expecting a net loss of up to 349.9 million yuan (US$52 million) in the first half of 2022, driven by tumbling cryptocurrency prices.  See related article: Hong Kong-listed Meitu buys more Bitcoin, now has US$100 million in crypto Fast facts See related article: Software firm […]

Hong Kong-based cryptocurrency exchange OSL is reportedly laying off 40 to 60 employees, or about 15% of its workforce, to join a growing list of digital asset companies in scaling down operations amid tanking cryptocurrency prices. See related article: Coinbase, biggest US crypto exchange, cuts workforce by 18% Fast facts The job cuts are not […]

Crypto market maker and lender Genesis Trading may lose “hundreds of millions” due to its exposure to troubled crypto firms Three Arrows Capital (3AC) and Hong Kong-based lender Babel Finance, CoinDesk reported. See related article: Wall Street seems to sense opportunity in distressed crypto markets Fast facts Genesis is seeking at least partial reimbursement from its […]

Crypto hedge fund Three Arrows Capital (3AC) has been ordered to liquidate as plummeting crypto prices left the firm unable to repay creditors, Sky News reported. See related article: Contagion risk from Three Arrows Capital weighs on Bitcoin, crypto Fast facts A court in the British Virgin Islands appointed two senior members of global advisory […]

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.

One door closes and another opens, which seems to be what’s happening in Singapore as the crypto price slump restructures the trading environment.

In a decentralized society envisaged under crypto, everybody is reportedly equal. But as the market strains under considerable stress, it’s showing some are more equal than others.

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

Input Output Global (IOG), the development company that runs the Cardano blockchain, on Monday said it will postpone the testnet of the network’s Vasil hard fork to the end of June, citing software bugs and a focus on quality and security. See related story: Cardano’s Alonzo Purple testnet begins onboarding users Fast facts The engineering […]

Crypto exchange ByBit lays off 30% of its staff. And as the NFT market grows, how do we combat against scams?

Hong Kong-based Babel Finance announced on Monday it has reached “preliminary agreements” on debt repayments to counterparties following a redemption and withdrawal freeze instituted last Friday. See related article: Contagion risk from Three Arrows Capital weighs on Bitcoin, crypto Fast facts A preliminary restructuring of the debt repayment period has “eased” the company’s short-term liquidity […]

The crypto hedge fund got called out on social media Thursday for allegedly misappropriating US$1 million to cover risks of insolvency.

Bitcoin, Ethereum and TRX recover as the Federal Reserve raises interest rates. Meanwhile, Three Arrows Capital faces liquidation concerns.

Hong Kong-based Animoca Brands, which invests in non-fungible tokens (NFTs) and metaverse projects, has invested over US$1.5 billion across more than 340 investments as of April 30, according to its unaudited financial results released on Monday. See related article: Animoca Brands’ new Japan arm aims to connect fans in Web 3.0 world Fast facts Between […]

Beijing’s official GDP growth target is 5.5% this year, but some analysts don’t see how that makes sense in the face of Shanghai-size lockdowns. Could a China slowdown be good news for central bankers trying to tame inflation?

Top blockchain and crypto news: Investors shun LUNA 2.0. Ethereum gains amid relief rally. China’s stimulus goes digital.

The “social” humanoid developed by the Hong Kong-based Hanson Robotics released her non-fungible token (NFT) collection, Baby Singularities, on OpenSea on Wednesday, according to a statement on her verified Twitter handle.  See related article: Meta showcases focus on AI, announces new voice assistant program Fast facts Sophia, who gained fame for being the world’s first […]

Lei Wai Nong, Macao’s secretary for economy and finance, said China’s expertise in developing its digital yuan could help the specially administered region introduce a central bank digital currency (CBDC), according to local media reports. See related article: China to issue free digital yuan to boost locked down economy Fast facts Lei said he will […]

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?

The Hong Kong-based public trust company Tuesday announced a US$20 million funding round to build up a secondary market for private equity and digital assets, according to a press release. See related article: Singapore wants to bring some adult supervision to crypto Fast facts The venture for empowering startups Nogle and the Blockchain Technology venture […]

The Reserve Bank of India explores digital rupee options. Meanwhile, Terra’s new Luna coin drops significantly since launch.

Do Kwon’s proposal to create a new Terra network chain is set to go live this weekend — what does Terra 2.0 entail and will it successfully win back its following?

China’s state-backed infrastructure Blockchain-based Service Network (BSN) announced on Tuesday that it is preparing the launch of BSN Spartan on Aug. 31, a new international network for non-cryptocurrency public chains. See related article: Resist the temptation on NFTs, Chinese state-backed developer says Fast facts “We’re not against public chains, but we’re against crypto,” BSN developer […]

Hang Seng Index Company launched the China Metaverse Index on Monday to track the performance of 30 metaverse-related listed businesses in Hong Kong, Shanghai and Shenzhen.  See related article: Asian Games set for digital yuan, metaverse pilots, tech firm claims Fast facts Hang Seng Index Company is a subsidiary of major Hong Kong bank Hang […]

Startup platform Farandole has a plan to transform the traditional wine industry with NFTs, cryptocurrency and blockchain technology.

Blockchain was once associated overwhelmingly with cryptocurrencies — and specifically its poster children, Bitcoin and Ethereum. The latter, in particular, has thrust the industry forwards into the realm of smart contracts integration.  Ethereum started to bear fruit arguably most prominently last year amid a boom in non-fungible tokens (NFTs), while decentralized finance (DeFi) offered a […]

Terra has increased its initial token float — tokens that are tradable upon issuance — from 15% to 30% for pre-attack Anchor Protocol UST stakers (aUST) and post-attack LUNA and UST holders, in the latest update to the plan to revive its reeling ecosystem. See related article: No hard fork, governance vote in Kwon’s updated […]

Sony Music Entertainment has set up a new Greater China venture for its American label RCA Records to explore opportunities in streaming, non-fungible tokens (NFTs) and the metaverse. See related article: John Legend’s OurSong raises US$7.5 mln to fuel music NFTs Fast facts The new label, dubbed “RCA Records Greater China,” will make key hires […]

A vote pertaining to Terraform Labs CEO Do Kwon’s “updated and final” Terra revival plan was posted at 7:17 p.m. Wednesday Hong Kong time, with the majority favoring the proposal, while a preliminary vote was rejected in a landslide. See related article: No hard fork, governance vote in Kwon’s updated Terra revival proposal Fast facts […]

Top blockchain and crypto news: Terra puts down the fork. Bitcoin loses its shine in Singapore. China’s miners dig in.

Terraform Labs CEO Do Kwon posted an update to his proposal to revive Terra and LUNA at 4:55 p.m. Hong Kong time, which omitted the notice of putting the plan up for a governance vote. See related article: Do Kwon proposes Terra fork to ditch UST and ‘LUNA Classic’ Fast facts Kwon’s updated “Terra Ecosystem […]

Online image gallery Getty Images announced it will launch a non-fungible token (NFT) marketplace and debut digital collectibles on the Ethereum Virtual Machine-based Palm sidechain. See related article: Hong Kong’s South China Morning Post to make NFTs to preserve history Fast facts See related article: From in-print to online to on-chain: How will Web 3.0 […]

The Bitcoin community got a lift last year when it was reported Singapore’s sovereign wealth fund had bought Bitcoin. The company told Forkast in an interview that they do not own BTC, but they are keen on blockchain investments.

A developmental shift in the cryptocurrency industry is ushering in geographical shifts among crypto companies, with a number of businesses abandoning locations once hailed as crypto hubs in favor of jurisdictions with regulatory regimes more to their liking.  Forkast sat down with two of the crypto industry’s rainmakers who are among those spearheading this trend […]

LUNA, the collateral used by Terraform Labs to back its TerraUSD (UST), has been in a freefall. But experts tell Forkast the crisis is likely to make the pioneering stablecoin stronger, and the community behind stablecoins better.

The wife of the CEO of Terraform Labs sought protection after an unidentified individual visited their home in South Korea, local police told Forkast.

Top blockchain and crypto news: UST knocked out of Luna orbit. Making NFTs Instagrammable. China’s black market ‘digital collectibles’ trade.