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Aptos debut underwhelms amid questions over design and performance

Top blockchain and crypto news: Aptos launch falls short. Why FTX chief is calling for crypto regulations. Is Hong Kong paving way for a retail CBDC?

Singapore floats tests for retail crypto traders, plans to regulate stablecoins

The central bank is also considering options such as banning crypto firms from offering credit facilities, leverage or staking services to retail traders.

S.Korea’s Shinhan Securities lays groundwork toward hoped-for crypto expansion

As a leading financial institution of South Korea, Shinhan is gearing up for business expansion into crypto — while a local ban remains on the books.

‘Chinese Netflix’ iQIYI taps smart contract ERC-3475 to resolve copyright disputes

iQIYI, one of China’s largest online video platforms with over 100 million subscribers, is tapping Ethereum smart contract standard ERC-3475 to solve copyright-related issues, according to a press release on Sunday from the standard’s inventor, decentralized bond protocol DeBond.

South Korea’s MIR4 maker Wemade launches stablecoin

WEMADE, a South Korean blockchain game developer, recently launched its stablecoin, WEMIX$, for growing its blockchain ecosystem, which houses NFTs and DeFi.

Reinventing banking: Why is Standard Chartered so drawn to Web3?

Institutional adoption of Web3 in finance means getting traditional banks involved, which will in turn reshape the way banks work, says SC Ventures’ Alex Manson.

What is XRP and what is Ripple?

Why has Ripple Labs been in the U.S. SEC’s crosshairs and what’s the difference between Ripple and XRP?

Wash Trading

Welcome to The Daily Forkast – October 20, 2022 – presented by Joel Flynn. How can you spot when an NFT’s price is being artificially inflated? Anndy Lian joins us to talk more about the history of and the problems with wash trading in today’s NFT market.

Japan eases token vetting process to expand crypto offerings: report

Japan’s Virtual and Crypto assets Exchange Association (JVCEA), the self-regulatory body that oversees local crypto exchanges, will allow platforms to list cryptocurrencies without an existing lengthy screening process, according to Bloomberg. See related article: Japan pushes for tougher crypto AML regulations amid N. Korean cyberattacks Fast facts The easing is expected to take place as […]

Why local language education holds the key to crypto’s future

The crypto sector operates mainly in English, but more than 6 billion people — many of whom crypto would benefit the most — use other languages, writes Wei Zhou of Coins.ph.

Bitcoin makes the Guinness World Records list as the first decentralized cryptocurrency

Bitcoin also received additional entries to the annual list, now a record holder for the “oldest cryptocurrency,” the “most valuable cryptocurrency” and the “first blockchain.”

Aptos rollout faulted for slow processing speeds; native token plunges

The blockchain network was built by former members of the Meta stablecoin project, with well-known investors and considerable buzz as the new ‘Solana killer.’

Markets: Bitcoin price rises amid sweeping gains across top 10 crypto, Polygon increases 7%

Markets: Bitcoin price rises amid sweeping gains across top 10 crypto, Polygon increases 7%

Japanese gaming giant Konami is recruiting for expansion into Web3, metaverse

Konami Digital Entertainment Co., Ltd., a Tokyo-based video game company, announced a recruitment effort for 13 new positions to integrate its game titles with Web3 and metaverse technologies. See related article: NFTs may be the next killer app for video games, but some traditional players object Fast facts The game developer is planning to launch […]

Markets: Bitcoin, Ether rise; Polygon, Solana lead gainers among the top 10 tokens

Bitcoin and Ether rose as all top 10 tokens by market capitalization, excluding stablecoins, gained in Tuesday morning trading in Asia. Polygon led the list. Solana followed on news a leading non-fungible token (NFT) marketplace will suspend transaction fees. See related article: Gold commodities market could enter the blockchain, according to new industry initiative Fast […]

North Korea’s Lazarus Group attacks Japanese crypto firms, police say

North Korea-backed hacker group Lazarus has been sending phishing emails to Japanese crypto exchange employees to infect their computers with malware, causing some companies to have their systems hacked and cryptocurrencies stolen, Japan’s National Police Agency announced last week. See related article: DPRK hackers sneak US$52 mln in crypto into S.Korean exchanges: Chainalysis Fast facts […]

OpenSea begins support for Avalanche blockchain

OpenSea, the peer-to-peer non-fungible token (NFT) marketplace, has launched native support for the Avalanche blockchain, according to the platform’s verified Twitter account. See related article: Warner Music taps OpenSea NFT marketplace to guide artists to Web3 Fast facts Starting on Oct.12, content creators on Avalanche can display, list, and trade their NFTs on the world’s […]

DPRK hackers sneak US$52 mln in crypto into S.Korean exchanges: Chainalysis

South Korean media has reported that local crypto exchanges may become a “playground” for North Korean hackers.

Vincent van Gogh Sites Foundation launches legendary artist into Web3

Non-fungible tokens (NFTs) can be used to preserve and spread fine art and cultural heritage, tapping into new generations of audiences and patrons, said stakeholders.

Why appchains are critical to Web3’s future

What’s wrong with ‘fat protocols’ like Ethereum and Solana, and why should there be alternatives for the little guys? Yaoqi Jia of AltLayer explains.

UAE crypto market expected to grow 10-fold: report

The cryptocurrency market in the United Arab Emirates (UAE) is expected to grow 10 times, according to a new report from MENA blockchain ecosystem, Crypto Oasis, released Monday at a blockchain conference organized by the Dubai World Trade Centre.  See related article: New hire in Saudi Central Bank to work on crypto regulations: report Fast […]

A bear market may be painful, but it’s good for DAOs

When times are tough, a DAO must trim fat and focus on providing a better product or service to its community, writes Redmption of Harvest Finance.

Game Space to launch a dozen games by mid 2023, says investor Livio Weng

The former CEO of Huobi Global has jumped into the GameFi space.

Software firm Spexi raises US$5.5 mln to develop Flow blockchain-based drone imagery platform

Software company Spexi has raised US$5.5 million in seed funding to create Spexigon, the world’s first crypto-powered fly-to-earn drone imagery platform based on the Flow blockchain, according to a press release on Tuesday. See related article: X-to-Earn: Eat, sleep, do almost anything for pay in crypto  Fast facts See related article: Run-to-earn protocol Stepn announces […]

Joining The Sandbox metaverse: All the Cool Cats are doing it

Cool Cats Group LLC, the Web3 company behind the cartoon feline-based NFT collection Cool Cats, announced Thursday that it had received a strategic investment and partnership from Animoca Brands, owner of the metaverse platform The Sandbox.  See related article: Asus launches NFT platform to plug into Web 3.0 Fast facts In a tweet, Cool Cats’ […]

Dunamu, BTS’ Hybe launch first K-pop digital collectibles platform

Dunamu Inc., the mother company of South Korea’s largest crypto exchange Upbit, and Hybe Co., Ltd., the music agency behind K-pop mega group BTS, launched a K-pop digital collectible platform on Tuesday via their Los Angeles-based joint venture, LEVVELS Inc. See related article: Dunamu looks to K-pop group BTS NFTs to beat ‘Crypto Winter’ Fast […]

SEC fines Kim Kardashian US$1.26 mln for promoting EthereumMax

Reality TV star Kim Kardashian has been fined US$1.26 million by the U.S. Securities and Exchange Commission (SEC) for promoting EthereumMax (EMAX) tokens on her Instagram account without disclosing the US$250,000 payment she received for the endorsement. See related article: Bollywood megastar Amitabh Bachchan ponies up tax on NFT sale Fast facts The SEC said […]

3 reasons crypto will spring back after Crypto Winter

The crypto market has been down for months, but the industry’s long-term future is brighter than ever, writes Guilhem Chaumont of Flowdesk. Here’s why.

Europe cancels AML amendment that would have forced identity verification for non-custodial wallets: report

Amendments drafted by European Parliament members on anti-money laundering (AML) regulation removed provisions seeking compulsory identification for crypto transfers involving non-custodial wallets, according to crypto news outlet The Block reported on Thursday. See related article: EU seeks to limit banks’ crypto exposure  Fast facts See related article: Bitcoin, proof-of-work ban removed from European Union’s MiCA 

Tokenize plans acquisitions, fund raising to build exchange network

As the crypto slump drives job cuts and worse, some exchanges are seeing opportunity for expansion in the downturn, call it the fortune-favors-the-brave mantra.

ENS address registrations in September notch an all-time monthly high

The number of newly-registered Ethereum Name Service (ENS) addresses in September reached a monthly all-time high of 427,325 at the time of publication, despite total NFT trading volume falling 97% from January when sales peaked, according to data from Dune Analytics, a crypto analysis site. See related article: ENS domain name expires as developer is […]

Crypto wallet Metamask unveils all-in-one digital asset portfolio dApp

Global digital asset wallet Metamask recently launched a beta version of its new decentralized application (dApp) that would serve as a “one-stop shop” for managing crypto and non-fungible token (NFT) portfolios on different platforms. See related article: As “The Merge” succeeds, rival ETHPoW fork falters Fast facts “Portfolio DApp,” available to extension and mobile users, […]

Institutional finance, role of regulators in focus at TOKEN2049 crypto conference

The second Forkast report on Asia Crypto Week’s anchor event explores what bets TradFi players are making, how Asian investment patterns differ from those elsewhere, and what cooperation between crypto companies and regulators should look like

Australia gears up for state-backed digital currency trials

Top blockchain and crypto news: Digital dollar didgeridoos. Bitcoin softens as sterling sinks. ‘World’s dumbest’ crypto criminals nabbed in China.

Cryptocurrencies much more than trading tools, says Caselin at AAX exchange 

Who will regulate the regulators is a time-honored question and one Bitcoin enthusiasts raise when talking about the benefits of the token’s fixed supply versus the tendency of central banks to switch the money spigots off and on.

Japan plans new crypto transfer rules to combat money laundering

Japan is planning to introduce remittance rules to prevent money laundering through cryptocurrencies, Nikkei Asia reported Tuesday. See related article: China says it busted US$5.6B crypto money laundering ring Fast facts The Japanese authorities plan to revise “The Act on Prevention of Transfer of Criminal Proceeds” to require exchanges to provide user data when sending […]

Is crypto in a deep funk? Think again

Beyond the bear market, Web3 technology is shining bright in gaming and music, writes Hannes Graah of Gro. Are we at a tipping point for mass adoption?

Is the Philippines on track to becoming a blockchain hub?

The Philippines now ranks 2nd in the world for crypto adoption, but its path ahead is unclear, writes Emman Navalan. What are the hurdles it must overcome?

Chinese university sets up metaverse major, names department after metaverse

Nanjing University of Information Science & Technology has renamed its 25-year-old Information Engineering Department as the Metaverse Engineering Department. The university says it’s the first in China to offer a metaverse major, according to a local media report. See related article: South Korea and Meta to ramp up metaverse safety  Fast facts See related article: […]

Capital gains: How Web3 property rights can transform the digital economy

Digital ownership enabled by Web3 tech can challenge the monopolistic dynamics of Web2 and give people real equity, says Animoca Brands chief Yat Siu

Japanese banking giant Nomura’s crypto unit to be based in Switzerland

Tokyo-based financial services group Nomura Holdings, Inc., recently announced its new digital asset subsidiary named Laser Digital and respective holding company Laser Digital Holding, which will be active in Switzerland. See related article: Japan’s government approves policy to drive Web 3.0 adoption Fast facts Laser Digital will focus on secondary trading, venture capital and investor […]

Huobi Technology considers name change

Crypto exchange Huobi Global’s Hong Kong-listed sister company, Huobi Technology Holdings, is proposing renaming the group to “New Huo Technology Holdings Limited,” while its sister company, the crypto exchange Huobi Global, is reportedly seeking a buyer for the majority of its company. See related article: Huobi-incubated Chinese NFT platform iBox ends international operations  Fast facts […]

Girl group AKB48’s producer to launch metaverse idol; IEO in the works

J-pop is increasing ties with immersive metaverse technology, with Japan’s top record producer Akimoto recently announcing his ambitious virtual idol project.

India’s CoinDCX Twitter handle hacked to peddle XRP

CoinDCX, India’s first crypto unicorn, asked users not to click on any link or messages from its official Twitter handle as the company lost control of the social media account following a hack. See related article: How Twitter hackers social-engineered their way into VIP accounts to shill for bitcoin Fast facts “We are in the […]

India’s WazirX introduces new ‘learn and earn’ campaign with The Sandbox

WazirX, India’s largest cryptocurrency exchange by trade volume, has introduced a “learn and earn” campaign with The Sandbox, one of the biggest Ethereum-based metaverse game platforms.  See related article: WazirX launches India’s first NFT marketplace Fast facts The campaign started Sept. 19, and the top five winners will get free passes for The Sandbox’s recently […]

Will Ethereum ever surpass Bitcoin? This is “The Flippening”

Many believe Ethereum is destined to overtake Bitcoin’s dominance in an event known as “The Flippening.” Find out if Ethereum’s reign is inevitable in this Forkast explainer.

Digital dollar takes another step in White House’s “first ever” digital assets framework

The Fed will continue its CBDC research as Republicans pressure the central bank to clarify its stance on digital dollar issuance.

As “The Merge” succeeds, rival ETHPoW fork falters

ETHPoW, the Ethereum hard fork blockchain intended to preserve proof-of-work after the native chain transitioned to proof-of-stake, is facing technical difficulties despite months of anticipation.  See related article: Ethereum says Merge upgrade successfully completed, more to come Fast facts Prior to the fork, it was announced that ETHW tokens would be airdropped to Ethereum holders. […]

Markets: Bitcoin dips below US$20,000; Ether, ETC fall post-Merge

Bitcoin fell below the US$20,000 support line in Friday morning trading in Asia, while Ether saw a sell-off following the long-awaited network “Merge” on Thursday. The total cryptocurrency market capitalization fell below US$1 trillion as all top 10 tokens were trading down. See related article: Ethereum says Merge upgrade successfully completed, more to come Fast […]

Ethereum says Merge upgrade successfully completed, more to come

The Merge is a milestone in slashing electricity use on the Ethereum blockchain, but there are plenty more upgrades in the pipeline.

Tencent Cloud, Strange Universe Technology to explore virtual space for enterprise

Tencent Cloud, the cloud computing services arm of the Chinese tech giant, on Tuesday, announced it signed a memorandum of understanding with Web 3.0 firm Strange Universe Technology to create and host virtual reality (VR) spaces for businesses. See related article: Tencent Cloud continues blockchain expansion with two new platforms  Fast facts See related article: […]

KKR offers tokenized exposure to private equity fund on Avalanche

Global investment firm KKR has partnered with digital assets securities firm Securitize to offer tokenized positions for its clients with at least US$5 million in investible assets, exposing them to its US$4 billion health care equity fund, the Wall Street Journal reported. See related article: Guide to tokens and NFTs: what is ‘tokenization’ and how […]

China’s two systems for crypto: Trading is banned, but virtual assets can be protected

In a decision involving Litecoin, a Chinese court says there are no rules ‘that negate the protectability of cryptocurrency itself as virtual property.’

Crypto Fraud and Asset Recovery Network in U.K. launches Hong Kong chapter

The Crypto Fraud and Asset Recovery Network (CFAAR), which calls itself the first global network of its kind, has launched a Hong Kong-based chapter in collaboration with seven local finance, law, and crypto regulation experts.  See related article: Australia establishes federal crypto police unit Fast facts The Crypto Fraud and Asset Recovery network began in […]

Huobi to delist ‘privacy tokens’ including Monero, citing regulatory pressure

Crypto exchange Huobi has ceased topping-up service for seven kinds of privacy-focused tokens on its exchange as it prepares to delist the tokens on Sept. 19, citing regulatory concerns. See related article: Privacy protocol Monero completes upgrade to make transactions more private Fast facts See related article: Huobi-incubated Chinese NFT platform iBox ends international operations

All aboard the good ship Ethereum for The Merge. Next stop? 

The most critical upgrade in Ethereum’s history is just around the corner, so what will it mean for prices of cryptocurrency?

Markets: Bitcoin trades above US$22,000, Ether slips back, Solana rises

Bitcoin rose back above US$22,000 in Monday afternoon trading in Asia, while Ether slipped. Solana saw the second-biggest gain among the 10 largest coins by market capitalization after Bitcoin, while the rest of the top 10 were little changed. See related article: Markets: Bitcoin sole gainer in crypto top ten, Ether dips, Polkadot leads losers […]

Markets: Bitcoin sole gainer in crypto top ten, Ether dips, Polkadot leads losers

Bitcoin held weekend gains to move toward US$22,000 in Monday morning trading in Asia, while other tokens in the top 10 by market capitalization were flat to lower. Ether slipped, along with Polkadot and XRP. See related article: Markets: Bitcoin, Ether little changed; Polkadot leaps Dogecoin into crypto top ten Fast facts Bitcoin rose 0.3% […]

The metaverse is already here. What’s holding back the party?

Interoperability is a key characteristic for the metaverse to be useful, writes Dr. Dimitry Mihaylov of National Univ. of Singapore. But the technology and laws are still lacking.

FTX partnership boosts GameStop despite mixed quarterly results

GameStop shares jumped over 11% in after-market trading on Wednesday following an announced partnership with the cryptocurrency exchange giant FTX US, which will focus on “new e-commerce and online marketing initiatives.” See related article: FTX agrees to help South Korea’s Busan build its own crypto exchange Fast facts The announcement came in tandem with GameStop’s […]

Binance pushes out USDC in aggressive move to boost its own stablecoin

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

China has seen blockchain’s future and it doesn’t include cryptocurrencies

China’s Blockchain-based Service Network wears two hats in building blockchains: one for business in China and one for everywhere else, but it doesn’t see a role for crypto in either.

Slowdown in crypto interest to continue for rest of the year: KPMG

A slowdown in crypto investment — particularly in firms offering coins, tokens and non-fungible tokens (NFTs) — will continue in the second half of the current year, according to a new report by global audit and consulting firm KPMG.  See related article: Siloed regulatory efforts unlikely to help bring oversight to highly decentralized crypto industry […]

Crypto influencer collects, then returns, US$100K from investors in fake scheme

Crypto influencer Fatman Terra pitched his own fake investment scheme on Twitter — and found willing investors instantly — in an attempt to educate people about scams in the industry.  See related article: Terra’s Mirror Protocol fixes exploit that drained more than US$2 million Fast facts “In two hours, I received over one hundred DMs,” […]

Why play-to-earn gaming is losing steam and where GameFi must go next

Axie Infinity’s decline shows that earning can’t be everything, writes Riaz Lalani of Gambit Games. What went wrong with P2E and what can we learn from it?

Where will DeFi be after crypto winter ends?

The collapse of Celsius and Anchor wasn’t a failure of DeFi, writes Kaaran Kalantari of WingRiders. They failed to assess risk, and crypto Darwinism took shape.

Blockchain unchained: How crypto can empower women

How can blockchain help women gain financial independence? And how can female participation be boosted? Social entrepreneur Wendy Diamond explains

ENS provider reports third-highest monthly revenue, ahead of “The Merge”

Ethereum Name Service (ENS) reported its third-highest month of revenue in August, with 301,000 new “.eth” registrations, totaling 2.17 million names, according to a post on its verified Twitter handle. See related article: ENS domain name expires as developer is in prison, becomes up for grabs in Sept. Fast facts ENS generated 2,744 ETH, currently […]

Hong Kong hosts Digital Asset Series seminars for mass literacy

Hong Kong is hosting the Digital Asset Series (DAS) educational seminars, which started in August to continue into November this year. See related article: Why children around the world need crypto education Fast facts The free educational seminars will be delivered by industry experts, legal professionals, regulators and scholars from the finance-technology (fintech) sector, according […]

Director at China’s Securities Regulatory Commission deep-dives into Web 3.0 in new book, a year after China’s crypto ban

Nearly a year after China banned crypto trading and mining, the director of the Technology Supervision Bureau at Chinaøs Securities Regulatory Commission has published a book discussing Web 3.0 and blockchain technology. See related article: Shanghai turns to metaverse, NFTs to counter lockdown economic fallout Fast facts Yao Qian’s book “Web 3.0: Changes and Challenges […]

LG Electronics to launch Hedera-based crypto wallet

South Korea-based LG Electronics is reportedly preparing to release its first crypto wallet application named “Wallypto” in the third quarter of 2022.  See related article: S. Korea’s Danal, LG CNS to build ‘one-for-all’ Web3 payments platform Fast facts LG Electronics has been running a beta test of the application with developers since August and is […]

Ethereum’s Vitalik Buterin to release book on proof of stake

Vitalik Buterin will release a book on proof-of-stake consensus on Sept. 27, compiling various writings by the Ethereum founder over the last 10 years, according to his recent Twitter post. See related article: Vitalik Buterin says he used Tornado Cash to donate to Ukraine Fast facts The book, titled “Proof of Stake, The Making of […]