Search results: Stablecoin

Facebook CEO Mark Zuckerberg announced the social media giant is rebranding its corporate name to Meta as it focuses on building out its metaverse vision of an embodied internet with immersive spaces and experiences where people can digitally connect. Fast facts “The metaverse is the next chapter for the internet and it’s the next chapter […]

Behind this year’s giddy markets, evil and tragedies abound. Just in time for Halloween, Forkast.News shakes out the skeletons in crypto’s closet.

The Commodity Futures Trading Commission is ready to be the “primary cop on the beat” for digital assets, CFTC acting chair Rostin Behnam said at his confirmation hearing on Wednesday. Fast facts As of Tuesday, “the total size of the digital asset market was US$2.7 trillion and among that $2.7 trillion, nearly 60% were commodities. […]

More decentralization is being planned for Polkadot as its much-anticipated rollout draws close with the first batch of parachain slot auctions starting on Nov. 11.

As Ethereum surges to a new all-time high, 50 fintech experts surveyed by Finder offer predictions on ETH’s year-end and longer-term price outlook.

Tether Operations, the company behind Tether (USDT) — the largest stablecoin by market capitalization — today announced that it will be trialing Notabene’s crypto travel rule compliance product for cross-border stablecoin transfers. Fast facts USDT has a market capitalization of over US$70 billion and over US$64 billion in 24-hour trading volume, according to CoinGecko data. […]

Payments giant Mastercard and cryptocurrencies firm Bakkt Holdings Inc. announced on Monday they have partnered to facilitate cryptocurrency debit and credit card payments. The partnership will make it easier for merchants, banks and fintechs in the U.S. to offer a broad set of cryptocurrency services and ​​enable consumers to buy and sell digital assets through […]

The Australian government sees blockchain’s enormous benefits and is now actively developing the technology, writes Chami Akmeemana. What can other countries learn from this?

“For now, we do not have any plan for using e-CNY in the Belt and Road Initiative (BRI) countries yet,” China’s central bank chief said at the 2021 G30 International Banking Seminar, regarding the electronic yuan (e-CNY), the world’s first major central bank digital currency that is being slowly rolled out in China. Meanwhile, authorities […]

Ethereum prices surged to new heights ahead of next week’s Altair Beacon Chain upgrade but then pulled back. How do crypto experts make sense of it?

When the world’s largest cryptocurrency last reached a price high, China had yet to crack down on crypto mining, and there was no U.S. Bitcoin futures ETF. What do changing market conditions mean for the growth of Bitcoin and the crypto industry?

How the crypto economy is engaging with legislators, what policy makers need to know about Web 3.0 and what role the U.S. infrastructure bill has played in kickstarting better cryptocurrency education.

Top blockchain and cryptocurrency news: Bitcoin grows up. Facebook’s metaverse journey. China’s crypto investors find a workaround.

A group of U.S. lawmakers called on Facebook to halt its cryptocurrency and digital wallet project Novi hours after its pilot launch began on Tuesday, amid the company’s ongoing trust crisis. Senators Brian Schatz (D-HI), Sherrod Brown (D-OH), Elizabeth Warren (D-MA), Richard Blumenthal (D-CT) and Tina Smith (D-MN) said the tech giant “cannot be trusted […]

New York state Attorney General Letitia James has ordered two “unregistered crypto lending platforms” — one of which has appeared to be Nexo — to cease operations in New York, and requested another three platforms to provide information about their activities. Fast facts James said in a press release published on Monday: “Cryptocurrency platforms must […]

Facebook says it will create 10,000 jobs in the European Union over the next five years to build its highly anticipated metaverse — a digital platform that utilizes technology such as virtual and augmented reality that the company says has the potential to unlock new creative, social and economic opportunities. Fast facts According to a […]

Singapore is a major crypto hub. But for whom? In this primer, Malcolm Tan explains the island-state’s regulatory evolution and which groups are no longer in its favor.

Tether, the issuer of the world’s most popular stablecoin USDT, has been fined US$41 million by the U.S. Commodity Futures Trading Commission (CFTC) over “untrue or misleading” claims that its USDT stablecoin was fully backed by corresponding fiat currencies. Fast facts The CFTC said in a Friday statement that from at least June 1, 2016 to […]

Traditional finance evolved over centuries while DeFi is coming into its own in a few years, writes Adi Ben-Ari of Applied Blockchain. Are its risks inevitable?

As luxury brands eye the virtual realm, Zilliqa co-founder Max Kantelia looks forward to a convergence of desirable objects and digital opportunities.

Ripple, a San Francisco-based blockchain payments company, has joined the Digital Pound Foundation, a non-profit organization supporting the implementation of a digital pound in the United Kingdom, according to a Ripple blog post. Fast facts As a foundation member, Ripple will be represented on the board by Susan Friedman, Ripple’s head of policy. Other foundation […]

As non-crypto players like Twitter and PayPal take up digital assets, Coinbase, Binance and others look for ways to expand offerings.

Decentralized finance may look like it’s consuming TradFi, writes Will Hamilton of TCM Capital. But here’s why one won’t survive without the other.

Tether fires back while Easy Crypto closes Series A funding round

Tether is facing another round of scrutiny as the world’s number one stablecoin responds to a damning Bloomberg report published yesterday that claimed — among other things — that Tether is not fully backed as the company claims and is using its reserves to make crypto-backed loans. Fast facts In the article, reporter Zeke Faux […]

  Jerome Powell’s remarks on Sept. 30 following his testimony about the financial hardships of the pandemic caught the attention of crypto enthusiasts. Taking questions from the House Committee on Financial Services, Chairman Powell said the Federal Reserve would not seek a ban on crypto but reiterated that stablecoins should be regulated.  Bitcoin jumped by […]

Top blockchain and crypto news: US leads charge in ramping up cybersecurity. Crypto fans crow as Facebook flops. China bears down on metaverses.

The U.S. Securities and Exchange Commission has no plans to ban cryptocurrencies, chair Gary Gensler said during a congressional hearing on Tuesday. He added that any decision to ban crypto is “up to Congress.” Fast facts Gensler responded to Rep. Ted Budd’s question about whether the U.S. plans to ban crypto along the lines of […]

Hong Kong, a hotbed for crypto startups and exchanges, is at a crossroads, writes Jeremy Ng of Gemini. Here’s how the industry can better secure its future.

DeFi tokens like dYdX soared after China’s latest move to throttle crypto. Is this a short-term spurt or decentralized finance shifting into high gear?

Is China’s influence over Bitcoin and the global crypto market waning? Chinese exchanges get a thrashing as decentralized exchanges get happy on clampdown news.

A profound shift is underway in online culture, writes Anndy Lian of BigOne Exchange. Here’s how decentralized finance might one day power the NFT and metaverse economy.

While a US digital dollar is stuck at pole position, China’s digital yuan is nearing the finish line. Michael B. Greenwald of Tiedemann Advisors explains why it matters to the future global economy.  

Ripple’s win in Bhutan comes as it suffers a setback in a US court as judge rebuffs Ripple’s request for SEC’s internal trading decisions over XRP.

Top blockchain and crypto news: Evergrande end-game roils crypto markets. SEC takes aim at stablecoins. How close is China’s digital yuan to the finish line?

Decentralized finance platform Vee Finance, which is based on the Avalanche blockchain, has suffered from a hack that saw the loss of Ether and Bitcoin tokens worth US$35 million, the lending platform announced on Tuesday. Fast facts Vee Finance suspended the platform’s contracts as well as its deposit and borrow function to protect user assets […]

Evergrande debt woes hit crypto meanwhile Mooncakes are in the metaverse

As major banks distance themselves from crypto business, alternative trading methods like peer-to-peer transfers are gaining popularity among investors

Crypto investors and industry watchers are following closely the potential collapse of Chinese property giant Evergrande.

Blockchain research firm sees explosive growth in smart contract-based products that can replace existing financial services.

As Cardano’s Alonzo upgrade goes live, founder Charles Hoskinson of IOHK calls DeFi a ‘bubble.’ How does he think the regulation that is sure to come will reshape DeFi in the future?

As the trading volume in non-fungible tokens begins to slow down from recent record heights, leading NFT marketplace OpenSea has been rocked by an insider trading scandal involving a senior team member. Fast facts The company, dubbed “the eBay of NFTs,” issued a statement yesterday acknowledging it became aware on Tuesday that an employee had […]

Amid the country’s ongoing Senate inquiry into crypto regulation, the Reserve Bank of Australia has posted a job advertisement for a position within its central bank digital currency research team. Fast facts A successful applicant would join a new cross-disciplinary team to research “whether there is a case for a CBDC in Australia, and if […]

Ahead of the U.S. Banking Committee’s hearing on the “Oversight of the U.S. Securities and Exchange Commission” today, SEC Chairman Gary Gensler reiterated his call for crypto platforms and projects that have securities to register with the agency. Fast facts In prepared remarks, Gensler emphasized the concerns he sees over the lack of investor protection […]

E-CNY problems to be solved, also China sees warning over NFT hype

A few altcoins managed to stand out coming into the working week as Solana’s tear comes to an end.

Payments giant Mastercard announced it is extending its reach into the realm of cryptocurrency with the acquisition of CipherTrace, a blockchain analytics startup, for “greater security, transparency and trust to digital assets across the ecosystem.” Fast facts CipherTrace, which calls itself the world’s first blockchain forensics team, provides cryptocurrency tracking and investigation services. It launched an […]

Despite significant losses across the board, industry experts are not too concerned, seeing the plunge as normal market behavior.

Crypto platform CEO claims regulators use ‘intimidation tactics behind closed doors’ by refusing to provide clarity.

It’s hard to move forward on a CBDC when those in charge can’t agree. Is time running out for an American digital dollar?

Gajesh Naik and Laya Mathikshara, two Indian 13-year-olds, are getting global recognition — and making astronomical sums — through their ventures in crypto and NFTs.

TokenSociety.io, a non-fungible token minting platform and marketplace for the entertainment industry, has completed its first NFT Drop for the pilot episode of “Men of the House,” a situation comedy TV series, the company announced today. Fast facts The pilot episode of “Men of the House” is completely financed through the sale of its NFTs […]

India crypto exchanges allow bank deposits while FTT token on a roll

Singapore-based digital securities exchange ADDX today announced it had reached a US$200 million agreement that will give accredited investors in China access to digital securities covering various asset types, the company said. Fast facts According to a company statement, ADDX has reached an agreement with ICHAM, a Singapore-regulated wealth and fund management company, to be […]

Donkey, launched Sept. 1, aims to become a DeFi service that brings more South Korean investors into decentralized finance by making their favorite cryptos more scalable and available. Fast facts Donkey is a virtual asset deposit and lending protocol that runs on the Ethereum blockchain where anyone can deposit crypto as collateral and borrow other […]

The United States, Vietnam, Thailand, China and the United Kingdom lead global adoption in decentralized finance (DeFi), according to Chainalysis’ Global DeFi Adoption Index published this month. Fast facts “While grassroots cryptocurrency adoption generally is highest in emerging markets, DeFi adoption is strongest in high-income countries that already had substantial cryptocurrency usage, especially amongst traders […]

The founder of the now-defunct crypto exchange BitConnect is being sued for a US$2 billion “textbook Ponzi scheme” by the U.S. Securities and Exchange Commission, according to a Reuters report. Fast facts The SEC alleges BitConnect’s founder Satish Kumbhani, an Indian citizen, lied about the exchange’s ability to earn 40% returns on investments of BitConnect’s […]

Top blockchain and crypto news: Does TBD stand for Twitter Boss Decision? NFTs’ ballooning interest. How billions in e-yuan are coursing through China.

MetaMask, a non-custodial wallet that allows users to interact with the Ethereum blockchain and Ethereum-compatible networks such as Polygon, has seen its monthly active users surge over 1,800% in the past year to surpass 10 million, according to ConsenSys, an Ethereum blockchain software developer. Fast facts Alongside the explosive growth of the Ethereum ecosystem from […]

Facebook’s Novi is ready to launch. Here’s why the Diem crypto wallet might find an especially warm welcome in places like the Philippines and Malaysia.

Nigeria, a country with one of the world’s highest cryptocurrency adoption rates, is moving ahead with its plan for a central bank digital currency pilot project called Project Giant. The Central Bank of Nigeria has selected Bitt Inc., a Barbados-based fintech startup, as its technical partner for the project, which is scheduled to launch on […]

The Monetary Authority of Singapore (MAS) today announced 15 finalists for its “Global CBDC Challenge” — a competition to develop retail Central Bank Digital Currency (CBDC) solutions to improve payment services and promote financial inclusion. Fast facts According to MAS, the Global CBDC Challenge attracted over 300 submissions from more than 50 countries, with over […]

Decentralized finance (DeFi) is attracting a lot of attention from traditional banks and venture capital, but many institutions remain firmly on the sidelines. Forkast.News explores why.

Bitcoin’s price dropped following a quick ascent past US$50K, but analysts say the rally is set to continue. Meanwhile, Solana again defied the overall market to post a new price high.

While India’s parliament considers a potential nationwide ban on all private virtual currencies, a former governor of India’s central bank says some cryptocurrencies have a “potential future” in the global economy. Raghuram Rajan, ex-governor of India’s central bank and former chief economist at the International Monetary Fund, made his comments at a Reuters Global Markets […]

Top blockchain and crypto news: Is another Bitcoin bull run coming soon? Punks rocking NFTs. Why crypto contracts may not be enforceable in China.

Circle, issuer of the world’s second-largest stablecoin USDC, has announced plans to be 100% backed by cash and short-term U.S. Treasuries by September. The company’s most recent attestation showed USDC’s US$22.2 billion supply was backed by only 61% “cash and cash equivalents.” Fast facts Circle had indicated earlier in the month that it wishes to […]

The ideal metaverse is open and interoperable, says Jamie Burke of Outlier Ventures. Here’s how blockchain gaming and NFTs are closing in on that future.

The Brooker Group, a publicly listed financial consultancy and capital management company in Bangkok, this week reported that it held US$23.86 million of digital assets, according to its financial results for the first six months of 2021. Fast facts The Brooker Group also reported an impairment loss of US$12 million in the first half of […]

The Bank of Thailand today published the results of its retail central bank digital currency (CBDC) study and public survey, which the central bank says will guide the development of the country’s CBDC pilot test. Fast facts The Bank of Thailand underscored that a CBDC for the general public “must not adversely affect monetary policy […]

Solana hits all time high as GoSats launches bitcoin reward card

Poly Network hackers have returned stolen assets worth around US$340 million so far.