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SOL falls to six-week low, BNB biggest gainer despite reports of Binance violating Russian sanctions

Bitcoin recaptured the US$26,000 mark today, while Solana fell to a six-week low. BNB was the biggest gainer in the top 10, despite allegations against Binance resurfacing.

Rising tide or sinking ship

OpenSea’s royalty policy change ignites debate between tech advocates and creators. Mark Cuban calls it “a huge mistake as NFT market slides 6%.

Why FTX deserves a second chance

Despite the outrage against Sam Bankman-Fried and the now-bankrupt exchange, everyone would be better off with a relaunched FTX 2.0, writes Rachel Lin, CEO of SynFutures.

Tether stops USDT stablecoin mints on three blockchains

Tether, the issuer of the world’s largest stablecoin USDT, announced on Thursday that it will discontinue support for its flagship stablecoin, on three blockchains, Kusama, Bitcoin Cash SLP (Simple Ledger Protocol) and Omni Layer. 

SEC granted permission to file interlocutory appeal in Ripple case

Judge Analisa Torres has granted the U.S. Securities and Exchange Commission (SEC) the request to file an interlocutory appeal in its lawsuit against Ripple Labs.

Will Singapore steady the stablecoin ship?

Top blockchain and crypto news: Singapore steps up stablecoin rules. DeGods decline. Hong Kong’s third crypto license.

Coinbase cleared to offer crypto futures trading in the US

Coinbase, the largest cryptocurrency exchange in the U.S., has obtained regulatory approval to offer crypto futures trading services to eligible clients

Cryptos decline on the back of Wall Street losses and Fed speculation

Bitcoin and Ether fell on Wednesday along with all other top 10 cryptos, NFTs moved down while U.S. stock futures steadied after a rocky Tuesday.

BTC Markets CEO sees silver lining in Australian banks’ crypto clampdown

Australian banks are heightening scrutiny on digital asset exchanges and restricting crypto payments due to rising scams and frauds. Caroline Bowler, CEO of BTC Markets highlights the challenges and opportunities faced by the industry in the country.

Shiba Inu surges; DeGods Season 3 unveiled; risk sentiment improves for US stocks

Bitcoin dipped slightly, having hovered around the $29,380 level throughout the weekend. Ether and most other top 10 crypto were little changed.

SEC to appeal in Ripple case, says ruling is a matter of opinion

SEC seeks to appeal a court ruling in July that the programmatic sale of Ripple’s XRP cryptocurrency did not qualify as sales of financial securities.

Slowing US inflation data inspires hope for a crypto price rally

Bitcoin and Ether dipped on Friday morning in Asia, while U.S. CPI data points to a potential rally in the crypto market.

Is PayPal’s new stablecoin a watershed moment for crypto?

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

NFT gamers ready to get wrecked

Wreck League: New PVP NFT game with custom mechs set to dominate. Partnerships with Yuga Labs and Bored Ape Yacht Club promise big potential in shifting NFT market landscape.

Blockchain is fast, direct and all too cryptic — can it reshape international aid?

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?

Crypto’s fear and loathing: Will TradFi take over?

Moves by big financial institutions into digital assets are worrisome to crypto purists, but it could be just what crypto needs to shake off its doldrums, writes Konstantin Horejsi of Blocktrade.

Hackers hit Curve, China announces blockchain link & is FTX back?

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Coinbase launches bridge for layer-2 blockchain Base, sets mainet launch date

Coinbase launched a bridge for its Ethereum layer-2 blockchain “Base,” on Thursday and set Base’s mainet launch for Aug. 9.

HashKey Exchange and OSL licensed to serve retail investors

HashKey Exchange and OSL — the only two cryptocurrency exchanges licensed by the Hong Kong SFC — received license upgrades Thursday to service retail investors.

Japan’s blockchain group lobbies for tax change

Japan’s blockchain group urges tax change. Bitcoin NFT struggles but it may be a sleeping giant. Litecoin falls after halving.

Litecoin prices fall 6% after third halving event

Litecoin prices have lost over 6% since it completed its third halving event on Wednesday evening in Asia.

Litecoin completes third halving event

Litecoin has executed its third halving event on Wednesday, reducing block rewards for miners from 12.5 to 6.25 Litecoins per block.

Cryptos show resilience; BNB gains on Binance Japan launch

Bitcoin, Ether and most other top ten tokens gained Wednesday morning in Asia, with BNB leading winners after Binance Japan launch.

The diversity in NFTs

NFT trading volumes continue to stay low but gaming NFTs gave traders some positive news this week.

Binance Japan launches with 34 tokens, BNB debuts in the country

Binance announced the launch of Binance Japan on Tuesday, offering 34 cryptocurrencies.

Crypto’s latest inflection point an opportunity for Asia to lead, says Circle’s Yam Ki Chan

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.

Web3 has a big security problem, and the industry is not doing enough to protect users: Opinion

If Web3 wants to be an alternative to traditional finance, the industry must make itself less vulnerable to hacks and security breaches, writes Richard Meissner.

Is Worldcoin’s free crypto more than just a freebie?

Concerns arise over Worldcoin’s free crypto. NFT market does a crabwalk. Japan’s next big thing for the metaverse.

Sky Mavis and CyberKongz Plan to Win Together

CyberKongz plans a shift to the Ronin blockchain alongside Axie Infinity as Sky Mavis gears up for its first PFP collection and third-party NFT mint.

Russia to launch digital ruble CBDC payments on August 1

Russian President Vladimir Putin signed a digital ruble bill into law on Monday, approving the use of its central bank digital currency for payments starting from Aug. 1. See related article: Russia delays CBDC pilot to await new law Fast facts

Blockchain sleuths win Arkham’s US$5,000 bounty for Terra, Do Kwon’s wallet info

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.

New NFT Project makes it big; XRP & BTC pull up crypto

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

XRP triumphs over SEC, but crypto clarity remains in the shadows

Top blockchain and crypto news: Ripple not clear of hurdles | NFTs in historically slow period | Hong Kong banks dither

NFTs, Where did the buyers go?

Despite ample Ethereum holdings, traders appear less willing to invest in NFTs. Ethereum wallet growth data in 2023 suggests low NFT sales, while Ether used for NFT sales has dropped to 2021 levels.

How Asia is emerging as a safe haven for digital assets: Opinion

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

USDT’s goal is to be the dollar, not beat it, says Tether CTO

Scrutiny on the stablecoin’s reserves has intensified since USDT’s latest depegging scare. Paolo Ardoino, CTO of Tether and Bitfinex, delves into the composition of USDT reserves, explaining how the firm ensures dollar redemptions, irrespective of secondary market prices.

After U.S. court rules Ripple XRP is not a security, industry remains cautious

In a long-awaited decision, the U.S. court ruled in favor of Ripple Labs in its case against the Securities and Exchange Commission, providing a boost to most cryptocurrency prices. But industry participants remain wary.

Why culture and ownership are critical to the metaverse: Opinion

As stores of our identity, customs and creativity, NFTs will drive Web3 adoption and become central to the new digital economy, writes Yat Siu, executive chairman of Animoca Brands.

South Korea mandates new accounting rules for domestic crypto sector

South Korea’s FSC is requiring companies that issue or own cryptocurrencies to provide detailed crypto disclosures from 2024.

NFT recovery or new bottom discovery?

Blur has been adding demand for specific collections by incentivizing floor NFT trading, which may have mitigated aggressive price undercutting for liquidty.

Crypto ‘extremely speculative’ investment, not money, says Bank of England Governor Bailey

Bank of England governor Andrew Bailey said Bitcoin and other cryptocurrencies don’t meet standards to be recognized as money.

Despite the regulatory darkness in America, crypto’s dawn is nigh: Opinion

Crypto’s current turmoil in the US stands in stark contrast to other jurisdictions that are paving paths to for the industry to shine, writes Sean O’Connor.

South Korea, Singapore, Thailand clarify crypto rules as U.S. in state of regulatory ‘warfare’

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
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How did Do Kwon move US$18 mln in stablecoins to ‘unfreezable’ tokens while in Montenegro jail?

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.

No surprise as Singapore, Thailand step up crypto regulation

Southeast Asia steps up regulation. No end in sight for NFT market decline. Voyager’s shrinking portfolio.

The NFT market’s historic new lows

NFT market recovers after Azuki’s Elementals mint debacle as traders report liquidity issues amidst price tumble.

Global shifts in crypto capital are underway. Here’s where the money is going

Digital assets funds have been flowing in waves all over the world since crypto’s inception, writes Amy Yu, CEO of SEBA Bank. Where is crypto capital going now?

Blockchain Alliance’s Raj Kapoor says the technology can reshape India’s governance systems

Kapoor founded the India Blockchain Alliance five years ago and gives an update on how the technology is being used in police reports to real estate transactions, as well as challenges of CBDC adoption and plans for tokenization of assets. He spoke in an interview for Forkast IQ.

FXHASH NFT upgrade to allow users to mint on both Tezos and Eth

FXHASH, the largest non-fungible token (NFT) platform by sales volume on the Tezos blockchain, has announced an upgrade that allows users to choose between Tezos and Ethereum, along with on-chain minting for both networks. 

ApeCoin DAO replaces Yat Siu and Alexis Ohanian

ApeCoin DAO, the decentralized autonomous organization behind the ApeCoin cryptocurrency, has replaced Animoca Brands chairman Yat Siu and Reddit co-founder Alexis Ohanian, in its special council that oversees the Ape Foundation.

Blockchain Association joins Coinbase in pushing back against SEC over crypto crackdown

The Blockchain Association said the U.S. SEC chair Gary Gensler should remove himself from enforcing rules on the crypto sector.

The bane of crypto today is quantity over quality: Opinion

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?

Binance to change euro banking partner from September

Binance’s euro banking partner, Paysafe Payment Solutions, will stop offering its services for the world’s largest cryptocurrency exchange from Sept. 25.

Ledger wallet launches institutional crypto trading platform

Ledger announced the launch of Ledger Enterprise Tradelink, a secure and regulation-friendly trading system for institutional investors.

Can Azuki’s new Elementals spark the entire NFT market?

Azuki’s Elementals launch may be a turning point for the NFT market, with the continued decline of top projects’ floor prices.

Switzerland freezes US$26 million in crypto held by Terraform Labs and Do Kwon

Swiss prosecutors have reportedly frozen about US$26 million in Bitcoin and other cryptocurrencies that belong to Terraform Labs and its chief executive officer Kwon Do-hyeong.

Japan exempts cryptocurrency issuers from 30% tax on unrealized gains

Cryptocurrency issuers in Japan are now exempt from paying a 30% corporate tax on unrealized gains on tokens.

UAE welcomes digital assets as Ripple wins in Singapore

As Ripple receives an in-principle approval for Singapore’s digital payment license, institutional investors continue to look toward Bitcoin ETFs.

Why DeFi token airdrops are risky and how to make them more secure: Opinion

Having a crypto wallet is necessary to participate in a token airdrop, but wallets are also vulnerable to hacks and mishaps, writes Ravindra Kumar of Frontier.

Wall Street-backed crypto exchange a sign of lingering interest despite SEC’s crackdown

Top blockchain and crypto news: Wall Street backs new crypto exchange. NFT traders remain cautious. Alibaba’s incoming chairman is a crypto fan.

SoftBank-backed crypto bank Xapo to expand services in India

Xapo Bank, a Gibraltar-based cryptocurrency bank backed by SoftBank, DST Global and Ribbit Capital, has announced its expansion to India, the world’s most populous nation. 

Ordinals inspire a new type of Ethereum collectible called Ethscriptions

Ethereum developers inspired by Bitcoin’s ordinals launch ‘Ethscriptions’, a new on-chain collectible.

Citadel, Fidelity, Schwab-backed crypto exchange launches amid U.S. crackdown

EDX Markets, a cryptocurrency exchange with backing from major Wall Street players such as Citadel Securities, Fidelity and Charles Schwab, officially launched on Tuesday.

Whales are feasting on NFT Art

Sotheby’s NFT auction sees Ringers #879 rise to the record books as one of the highest ever generative art in Ether value.

Crypto in the time of cockroaches

An account of a holiday from hell draws parallel to the dark world of cybercrime and how anyone can fall victim to sophisticated crypto thefts.

Binance France under investigation for money laundering: CoinDesk

Binance France is reportedly under investigation for “aggravated” money laundering and the illegal provision of digital asset services.

Weekly Market Wrap: Crypto lawsuits, Hinman and a rare rate hike pause

Bitcoin dipped below US$25,000 for the first time in three months, as the SEC’s lawsuits continued to erode crypto investor appetite. Bitcoin needs to hold above US$24,000 to avoid more bearish momentum, industry experts told Forkast.

Asia lays out a welcome mat for crypto, while US bars its door

As the US escalates its crackdowns on digital asset companies, it’s also losing its dominance in crypto — to Asia’s advantage, writes Henry Liu of BTSE.

SEC lawsuit sees Binance.US wobble, trading platforms delist cryptos

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

How low can NFTs go?

SEC scrutiny sends NFT market into downturn. Traders liquidate or hold off as Forkast 500 NFT Index hits all-time low amidst crypto turbulence.

XRP reverses gains after document release in SEC lawsuit vs Ripple

Prices of XRP, which powers some of Ripple Labs’ payment services, reversed gains that followed the release of internal SEC documents related to the lawsuit against Ripple.

SEC FUD can’t stop the fun in NFTs

NFT Community Resilience: Amid SEC scrutiny, builders thrive with Bitcoin NFTs soaring, Polygon’s mystery unveil, art sales surging, and IP licensing advancements.