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Why DAO governance is riddled with problems and voting is a farce

DAOs are supposed to be democratic, egalitarian and inclusive, but those ideals are far from the current reality, writes Awa Sun Yin of Namada.

Bitcoin falls below US$23,000, Ether slides in crypto price slump across the board

Bitcoin and Ether prices slumped in Friday morning trading in Asia, along with all other top 10 non-stablecoin cryptocurrencies.

CBDC: Boon Or Bane?

Critics fear CBDCs could mean the end of cryptocurrencies, and an increasing number of countries are racing to develop their own.

Japanese banks to launch, test stablecoins on ‘Japan Open Chain’

Three major banks in Japan will issue stablecoins on an Ethereum-compatible blockchain created by the blockchain-related tools developer G.U. Technologies.

What policymakers need to know about the metaverse to make the real world a better place

The metaverse has the potential to make the real world more just and inclusive, writes Sébastien Borget of The Sandbox. Here are the key ingredients for its future success.

Bitcoin, Ether rise; Polygon leads rebound in top 10 non-stablecoin cryptocurrencies

Bitcoin and Ether rose in Thursday morning trading in Asia, along with all top 10 non-stablecoin cryptocurrencies. Polygon led the gains.

Singapore’s DDEx eyes security token offerings, mulls adding more cryptocurrencies

DBS bank’s digital exchange, which serves institutional clients, said macroeconomic conditions last year were not suitable for security token offerings (STO), but it will explore opportunities for such listings in 2023 and plans to add more crypto tokens.

Bitcoin Punks exceed 1,145 ETH in daily trading volume as Bitcoin Ordinals gain traction

Less than two months since the launch of the Ordinals protocol, Bitcoin Ordinals are gaining traction. Yuga Labs announced its first Bitcoin-native NFT collection, on the same day Bitcoin Punks saw over 1,145 ETH in trading volume. Industry commentators told Forkast what this could be for the Bitcoin network.

Blur NFT wash trading soars, fueling market distortions

Top blockchain and crypto news: Blur wash trading explodes. Coinbase extends developer foray with Base test. Hong Kong crypto embrace gets Beijing’s nod.

Bitcoin, Ether rise along with most top 10 cryptos, amid ‘bull trap’ warning

Bitcoin and Ether gained in Wednesday afternoon trading in Asia, along with most other top 10 non-stablecoin cryptocurrencies by market capitalization. Asian equities mostly rose on Wednesday as investors digested economic recovery indications as Hong Kong ended its mask mandate.
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Bitcoin, Ether fall; Polkadot leads losers among top ten tokens

Bitcoin fell in Wednesday morning trading in Asia, although held above the US$23,000 lower resistance line. Polkadot led the losers, while Litecoin rose.

Liquid staking TVL surpasses lending, becomes the second-largest among DeFi services

The total value of crypto assets deposited in liquid staking protocols rose to US$14 billion, surpassing lending services before Ethereum’s Shanghai update. 

Bitcoin, Ether prices fall; Solana biggest loser in top 10 cryptos

Bitcoin and Ether fell in Tuesday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization, despite U.S. equities rising on Monday after last week’s selloff. Asian stock markets mostly rose on Tuesday as investors absorbed key economic indicators across the region.  
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Coinbase exchange to delist Binance USD, says stablecoin ‘no longer met our listing standards’

Coinbase, the world’s second largest cryptocurrency exchange, said Monday it is suspending trade in the Binance USD (BUSD) as of March 13.

Robinhood says it’s cooperating with SEC following subpoena over cryptocurrency services

Robinhood says it’s cooperating with an SEC investigation into the company’s trading and handling of cryptocurrencies.

Markets: Bitcoin, Ether little changed; Polygon’s Matic token leads losers in top ten crypto

Bitcoin and Ether traded little-changed on Tuesday morning in Asia, while most top 10 non-stablecoin cryptocurrencies fell, with Polygon leading the losers
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Why the Hermès verdict was a big win for major brands and phygital commerce

The Metabirkins case makes clear that NFT trademarks belong to the original creator, bolstering future profit-making opportunities for fashion houses as well as other companies, writes Justin Banon of Boson Protocol.

Crypto Crimes Surge

2022 saw a lot of cryptocurrencies traded illicitly through various crypto exchanges – but that figure only represents less than 1% of all crypto transactions performed. Could things be looking up?

Janet Yellen urges strong regulatory framework for crypto as India leads G20 push for regulation

U.S. Treasury Secretary Janet Yellen told Reuters after the G20 meeting in India on Saturday that while the U.S. has not indicated any outright bans, it is critical to put in place a strong regulatory framework for the cryptocurrency industry. 

Crypto is experiencing growing pains. What’s coming next?

Now a teenager, crypto is wrestling with its identity and purpose. But it’s learning from its mistakes and on its way to maturity, writes Zach Bronstein of Endaoment.

Asia’s Opportunity to Lead Crypto Regulations

Crypto industry’s interaction with regulators is important and quite common in Asia but missing in the US, says Brooks Entwistle of Ripple Labs.

South Korea’s Lotte Group partners with Polygon for global NFT drive

Lotte Group plans to expand its non-fungible token (NFT) business onto the global market through a partnership with the Polygon blockchain.

Bitcoin, Ether gain, shrug off fall in U.S. equity markets; Solana bounces back

The top 10 non-stablecoin cryptocurrencies rose on Monday morning in Asia, despite the declines in equities on Wall Street on Friday.
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At least US$577 million of Blur-linked NFT sales are wash trades, CryptoSlam says

NFT data aggregator Cryptoslam has flagged more than half a billion dollars worth of NFT wash trades related to Blur since the marketplace’s Valentines airdrops started

Weekly Market Wrap: Bitcoin lingers at US$24,000 level after Wall Street’s worst day in 2023 so far

Bitcoin remained resilient around the US$24,000 level on Tuesday despite Wall Street’s worst day of the year so far. Industry experts are eyeing a potential retest of the US$25,000 psychological level, as a failure to reclaim it may result in a downtrend to around US$21,500.

FTX founder Sam Bankman-Fried hit with four more criminal charges

The founder of bankrupt cryptocurrency firm FTX.com Sam Bankman-Fried (SBF) has received another four criminal charges in a superseding indictment on Thursday.

Markets: Bitcoin, Ether fall along with all top 10 cryptos as investors await consumption index

Bitcoin and Ether fell during Asian trading hours on Friday, along with all the top 10 non-stablecoin cryptocurrencies by market capitalization. Most Asian equities were down, despite Wall Street’s overnight performance.

IMF releases crypto action plan, advises against legal tender status

World governments should not grant cryptocurrency legal tender status, the International Monetary Fund’s (IMF) executive board said in its new nine-point action plan on how countries should approach crypto assets published Thursday. See related article: India working with IMF, FSB on crypto regulations, says economic affairs secretary Fast facts See related article: India’s finance minister […]

Why crypto offers great career opportunities for talented women

The blockchain sector’s gender divide is narrowing. Its newness and founding ideals also allow for more flexible workplaces, writes Anastasia Kor of Choise.com.

Markets: Bitcoin down, Ether up; US equities rise as unemployment benefit claims slide

Bitcoin was down and Ether was up on Friday morning in Asia, while most top 10 non-stablecoin cryptocurrencies by market capitalization fell.
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Creepz NFT sales surge 239% following Spotify partnership news

The sales volume of Creepz by Overlord surged by 239% in the 24 hours to 11:00 p.m. on Thursday in Hong Kong, after its creator announced a partnership with music streaming giant Spotify.

SEC accused of ‘back door’ labeling of crypto as securities in Coinbase insider trading case

A U.S.-based blockchain advocacy group has urged a federal court to dismiss SEC charges against an ex-Coinbase employee accused of insider trading.  

Hong Kong’s Crypto Dream

Hong Kong’s economy is shrinking, but a recent budget draft published by the government lists some changes that could help the city recover – and crypto is at the center of it all.

Canada gives crypto companies 30 days to meet updated registration guidelines

Cryptocurrency companies in Canada have 30 days to meet updated crypto registration guidelines released on Wednesday or risk losing their users.

Markets: Bitcoin, Ether rise along with top 10 cryptos despite Fed signals to raise interest rates

Bitcoin and Ether rose during Asian trading hours on Thursday, along with all top 10 non-stablecoin cryptocurrencies by market capitalization. Asian equities were down

SEC has to clarify what’s permissible for staking, former CFTC chair says

It remains unclear whether the U.S. SEC’s enforcement action against cryptocurrency exchange Kraken represents a broader crackdown on staking, according to Timothy Massad, former Commodity Futures Trading Commission chairman.

Gate Group set to enter Hong Kong

Gate Group announced on Wednesday that it is applying for a new cryptocurrency license in Hong Kong, joining a growing list of Web3 firms entering the city.

Judge denies Dapper Labs request to dismiss NBA Top Shot security lawsuit

A US district court judge on Wednesday denied Dapper Labs’ request to dismiss a lawsuit that alleges that the NBA Top Shots NFT collection is an unregistered security. 

Crypto exchanges face an existential challenge. What can bring users back?

Amid the rubble of FTX and other centralized exchanges, cross-chain technology and on-chain trading offer more trustworthy alternatives, writes Simon Harman of Chainflip.

Bitcoin back above US$24,000, Fed releases February minutes

Bitcoin fell in a mixed morning for the top 10 non-stablecoin cryptocurrencies, with XRP posting the biggest gains in the list and Solana leading losses.
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Hong Kong’s new crypto regulation may lure Web3 firms back, experts say

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.

Web3’s biggest power up: casual games

Web3 gaming could see a huge turn in growth in 2023. Is there potential for this industry to match the growth and performance of the mainstream video game industry?

Blur lives up to name as its trading volume surpasses OpenSea

Top blockchain and crypto news: Blur’s success spurs changes at OpenSea. Is Binance eyeing US exit? Taiwan asset disclosure rules may include crypto.

Markets: Bitcoin, Ether extend losses; Polygon, Solana biggest losers

Bitcoin and Ether fell in Wednesday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization.
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Hong Kong to invest US$6.37 million to spur Web3 growth

Hong Kong is allocating HK$50 million (US$6.37 million) to develop its Web3 sector, the Financial Secretary Paul Chan announced Wednesday.

Coinbase reports growth in Q4 earnings despite decline in users

Coinbase reported an increase in its Q4 earnings on Tuesday, even as overall users declined throughout the period.

Crypto miner Hive Blockchain posts wider losses, cites Ethereum Merge

Vancouver-based cryptocurrency mining firm Hive Blockchain Technologies Ltd. reported bigger losses in its latest quarterly earnings report published Tuesday, mainly due to Ethereum’s Merge and lower Bitcoin prices.  See related article: Bitcoin mining difficulty dips 0.5% over two weeks after hitting record high Fast facts See related article: Bitcoin miner Greenidge Generation cuts NYDIG debt […]

Markets: Bitcoin, Ether fall as 2-year bond nears 15-year high

Bitcoin and Ether fell on Wednesday morning trading in Asia along with all other top 10 non-stablecoin cryptocurrencies by market cap.
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Centralized crypto exchanges are dying, so long live centralized crypto exchanges?

Multi-billion dollar bankruptcies, fraud allegations, scandal, and plunging cryptocurrency prices in 2022 all characterized why investors came to distrust centralized exchanges. Yet, some commentators expect platforms to become ever more centralized … and regulated.

Polygon Labs cut 20% of workforce

Polygon Labs is firing 20% of its workforce, or about 100 positions, as part of its business consolidation.

DeFi Recovery Soon?

Lenders in the crypto sector are optimistic about DeFi’s recovery this year – but why is that?

FTX Japan resumes withdrawals through Liquid Japan web platform

FTX Japan, the Japanese subsidiary of Sam Bankman-Fried’s bankrupt FTX, resumed withdrawal of customer holdings on Tuesday.

Markets: Bitcoin gains, returns to US$25,000; XRP biggest winner in top 10 cryptos

Bitcoin and Ether prices rose in Tuesday afternoon trade in Asia, while all other top 10 non-stablecoin cryptocurrencies were mixed. XRP led gains at 2.37%, while Solana and Polygon dropped saw the largest declines.
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Huobi plans to move headquarters to Hong Kong from Singapore

Cryptocurrency exchange Huobi Global is seeking to relocate its Asia headquarters from Singapore to Hong Kong.

How Web3 in China is taking shape — with ‘Chinese characteristics’

What makes Web3 compelling to many is its promise to shift power from centralized players to individual users, but China is doing the opposite, writes Lily King.

Philippine province taps blockchain technology, eyes tokenization

The Philippines’ Bataan province wants to streamline systems and procedures of government services through blockchain technology and tokenization, Bataan Governor Joet Garcia told Forkast.

Bataan Blockchain Plans

Blockchain can be utilized in numerous ways to benefit the public sector, Philippine province Bataan is getting a head start.

Bitcoin surpasses Visa’s market cap to be 11th largest asset in the world

Bitcoin, the world’s first cryptocurrency, gained 15% in the past week to trade at US$24,885 and 7 p.m. in Hong Kong, surpassing payments giant Visa in market capitalization for the third time in history. See related article: Industry reacts: US cracks down on crypto, India calls for regulatory collaboration Fast facts See related article: Bitcoin […]

Hong Kong begins public consultation on crypto licensing regime

The Hong Kong Securities and Futures Commission is calling for public feedback on its new proposals to regulate the crypto industry set to take effect in June.

Markets: Bitcoin rises above US$24,000; Solana gains most in top 10 cryptos

Bitcoin rose above US$24,000 in Monday afternoon trade in Asia while all other top 10 non-stablecoin cryptocurrencies were mixed. Ether gained 0.18%, while Solana strengthened the most across the top 10 cryptos.
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Taiwan may mandate public servants to declare crypto holdings

Taiwan’s Ministry of Justice said on Wednesday that it may be adding cryptocurrencies to the list of properties for public servants to declare. 

Markets: Bitcoin dips below US$24,000 to start the trading week in Asia

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

How tokenizing real estate can turn the ‘rules’ on their head – by mastering them first

The digital asset space is ripe for regulation, and tokenized real estate is no exception. But views differ when it comes to finding a framework that fits.

Weekly Market Wrap: Bitcoin rises above US$23,000 after its first weekly ‘death cross’

Bitcoin briefly climbed above US$25,000 for the first time since August 2021, before declining to US$23,764 after its first weekly “death cross.” Investors liquidated over US$70 million worth of Bitcoin short positions in the past 24 hours, according to data aggregator GlassNode, contributing to BTC’s rally.

Bitcoin Breaches US$24,000

Bitcoin experienced its first ‘death cross’ ever, but what does this mean for the coin’s trajectory?

Markets: Bitcoin, Ether fall along with most top 10 cryptos following hawkish U.S. Fed remarks

Bitcoin and Ether fell during Asian trading hours on Friday, following hawkish remarks from U.S. Federal Reserve officials on more upcoming interest rate hikes.

Tencent confirms ‘personnel reshuffle’ at metaverse unit, denies team being disbanded

China technology giant Tencent said its reshuffling staff in its metaverse unit, but denied it was being disbanded, as reported by local media.

Wemade’s WEMIX token surges after relisting on South Korea’s Coinone exchange

South Korean blockchain game developer Wemade’s WEMIX token surged after it was relisted on local crypto exchange Coinone on Thursday.

Do Kwon, founder of collapsed Terra stablecoin, charged with fraud by U.S. securities regulator

The U.S. SEC charged Singapore-based Terraform Labs and its chief Kwon Do-hyung for defrauding investors.

Why gaming’s next frontier is owning your in-game assets

Many gamers still oppose NFTs and blockchain gaming, overlooking the myriad benefits of the latest technology, writes Ramona Ciocea of Protokol.

Markets: Bitcoin slips back below US$24,000 as inflation worries resurface in U.S., equities slide

Bitcoin and Ether fell Friday morning in Asia, curtailing a strong run up in the week, after the U.S. January PPI rose much faster than expected.

Binance expects to pay penalties to settle U.S. probes: Wall Street Journal

Binance expects to pay to settle U.S. authorities’ investigations into its business and past crypto offerings, according to its chief strategy officer.