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.
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.
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.
Markets: Bitcoin rallies over 11% as top 10 cryptos gain, memecoin Floki surges 82%
Bitcoin posted the biggest gains during Asian trading hours on Thursday, along with increases in the rest of the top 10 non-stablecoin cryptocurrencies
El Salvador to establish ‘Bitcoin Embassy’ in Texas to promote adoption of digital assets
El Salvador, the first country in the world to make Bitcoin legal tender, is planning on opening a “Bitcoin embassy” in Texas.
EU begins regulatory sandbox for blockchain technology
The European Commission (EC), has started a regulatory sandbox to test use cases of blockchain technologies and provide legal clarity for the industry.
Conflux Network, China Telecom to build blockchain-enabled SIM cards
Blockchain protocol Conflux Network and China’s second-largest wireless carrier China Telecom have partnered to build a “blockchain-enabled SIM card” (BSIM).
FTX Donations Clawback
The new leadership at FTX are threatening charitable and political organizations with lawsuits if they don’t return donated funds. Will this benefit ordinary depositors?
Paxos ordered to stop minting Binance stablecoin as SEC mulls legal action
Top blockchain and crypto news: Paxos halts BUSD issuance. Kraken faces disclosure charges. Beijing backs new blockchain research center.
Markets: Bitcoin, Ether extend gains; Cardano rises most among top 10 cryptos
Bitcoin and Ether prices strengthened in Wednesday afternoon trade, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Cardano led gains at 6.91%, followed by Dogecoin at 5.21%, though prices of top 10 tokens remain subdued on the week.
Chinese NFT marketplace Jingtan eases asset transfer restrictions
Jingtan, one of China’s major NFT marketplace, has relaxed its rules on NFT transfer between users.
Singapore’s DBS Digital Exchange’s Bitcoin trade volume grows 80% in 2022
DBS Digital Exchange (DDEx), one of Asia’s first bank-backed digital exchanges, has reported a year-on-year increase of 80% in Bitcoin traded in financial year 2022, while the number of Bitcoin custodized with the bank doubled from 2021.
S. Korean regulators to probe local crypto staking services following U.S. crackdown: News1
S.Korean regulators are planning to review crypto staking services on local exchanges following recent regulatory enforcements from the SEC.
U.S. Congress, not the SEC, will set cryptocurrency regulations, says Blockchain Association
The Blockchain Association Chief Policy Officer Jake Chervinsky said the U.S. Congress will ultimately set the laws in the country to govern the cryptocurrency industry and not the Securities and Exchange Commission
Binance CEO says more non-USD stablecoins may emerge
The intensifying regulatory oversight in the U.S. is highlighting the increasing need for non-U.S. dollar-pegged stablecoins in the cryptocurrency industry, Binance Chief Executive Officer Changpeng Zhao said on Tuesday. See related article: Be careful what you wish for? Regulators pick up pace in the crypto industry crackdown Fast facts See related article: SEC may make […]
SEC may make it harder for hedge funds to work with crypto firms: Bloomberg
The U.S. Securities and Exchange Commission (SEC) plans to propose rule changes that would make it difficult for cryptocurrency firms to hold digital assets.
Markets: Bitcoin, Ether, other major tokens rise despite hotter-than-expected CPI reading
Bitcoin rose in Wednesday morning trading in Asia to move back above US$22,000 as investors shrugged off a seeming U.S. regulatory crackdown on digital assets and data showing U.S. inflation for January was above forecasts.
Hong Kong hopes to raise US$102 mln from digital green bonds debut: Bloomberg
The Hong Kong government is looking to raise US$102 million through the pilot issuance of its digital green bonds, according to a Monday report from Bloomberg.
Crypto Clampdown Begins
As financial regulators around the world continue to crackdown on stablecoins, some are asking if they are overreaching their jurisdiction.
Markets: Bitcoin, Ether drop; BNB biggest loser in top 10 cryptos
Bitcoin and Ether dropped in Tuesday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Binance’s native token BNB led the day’s decline across the top 10 cryptos.
Why the crypto sector needs radical transparency in the post-FTX world
Self-custody is cumbersome and carries risks of seed phrases getting lost, but how can we ensure if a third-party custodian can be trusted?
Markets: Bitcoin rises amid market jitters as Paxos stablecoin issuer next regulator target after Kraken clampdown
Bitcoin was the only top 10 non-stablecoin cryptocurrency to gain in Tuesday morning trading in Asia in a market unsettled by regulators in the U.S. targeting digital asset companies.
Singapore’s DBS bank plans to apply for crypto license in HK: report
Singapore’s DBS Group plans to apply for a license to offer crypto to Hong Kong customers as the city pushes to become a hub for digital assets.
India discussing crypto, regulation with G20, says finance minister
As India moves forward with its one-year presidency of the Group of 20 (G20), it is discussing cryptocurrency and regulation with the group’s members, India’s Finance Minister Nirmala Sitharaman said.
Head of crypto, FX trading platform EminiFX pleads guilty to US$248 million fraud charges
Mastermind of the EminiFX fraud has pleaded guilty to soliciting investments worth more than US$248 million from tens of thousands of investors, says US DOJ.
Crypto Clarity Coming?
The UK and Europe are following suit in trying to regulate crypto. Just how far along have they come and what more do they have in store?
Markets: Bitcoin, Ether prices extend losses; Dogecoin sole gainer among top 10 cryptos
Bitcoin continued to trade below US$22,000 in Monday afternoon trading in Asia. All other top 10 non-stablecoin cryptocurrencies dropped except Dogecoin.
UAE central bank to issue CBDC, promote digital asset growth
The United Arab Emirates plans to launch a central bank digital currency (CBDC), among other initiatives, to become a financial and digital payment hub.
Paxos ordered to stop issuing Binance USD stablecoin: report
Paxos Trust Company has been ordered by the New York Department of Financial Services (NYDFS) to stop issuing the U.S. dollar-pegged Binance USD (BUSD) stablecoin
What is the outlook for crypto in 2023 and beyond?
Tokenization, stablecoins and DeFi will be growth areas, but regulatory uncertainty is still holding back adoption, writes John Avery of FIS.
Coinbase CEO says he will “happily defend” crypto staking service against claim it’s a securities product
CEO Brian Armstrong said that the company will defend its staking services in court against claims that they need to be classified as securities.
Digital Currency Group plans restructuring to pay creditors of bankrupt Genesis unit
Digital Currency Group (DCG), the parent firm of failed crypto broker Genesis Global Capital, plans to transfer equity in another unit, Genesis Global Trading, to Genesis Global Holdco and eventually sell both companies to raise capital to pay back creditors.
Bitcoin mining difficulty dips 0.5% over two weeks after hitting record high
Bitcoin’s mining difficulty level edged down 0.5% in the two weeks through Sunday after hitting an all-time high in the previous adjustment, according to data from BTC.com.
Securities and Exchange Commission may sue BUSD stablecoin issuer Paxos, WSJ reports
The U.S. SEC may sue the Paxos Trust Company for allegedly violating investor protection laws in its issue of the Binance USD (BUSD) stablecoin.
Markets: Bitcoin treads water under US$22,000 following SEC action on Kraken, Ether falls
Bitcoin was little changed in Monday morning trading in Asia in a mixed morning for the top 10 non-stablecoin cryptocurrencies by market capitalization.
Huobi to expand in Hong Kong as it bets on China
Huobi Global plans to expand its operations in Hong Kong, anticipating that Mainland China will soon follow the city’s recent pro-crypto shift, says Justin Sun.
Stablecoin issuer Paxos probed by New York regulator
Paxos Trust, the issuer of Binance’s BUSD stablecoin, is reportedly being investigated by the New York State Department of Financial Services (NYDFS).
Bitcoin Price Dips
Bitcoin has fallen 4.5% since last week, but could this be seen as the coin trading sideways, or could we see even more drops in Bitcoin’s price?
Weekly Market Wrap: Bitcoin retreats below US$22,000 after a record January. Is the strong start to 2023 reversing?
After the strongest January price increase since 2013, Bitcoin gave up some of its gains this week to dip below the US$22,000 support line on Friday. The crypto market was buffeted by bearish comments on interest rates by U.S. Federal Reserve officials this week, along with concerns about a regulatory crackdown. Is this the start of a downtrend, a healthy correction, or the beginning of a so-called “crab” market moving sideways?
A house divided? SEC Commissioner Peirce attacks agency’s fines against Kraken exchange
Hester Peirce said using enforcement action to dictate law in an emerging industry is the act of a “lazy” regulator, after the SEC fined the U.S.-based Kraken crypto exchange for failing to register staking programs.
China to set up national blockchain technology research center in Beijing
China has given the go-ahead to set up the National Blockchain Technology Innovation Centre in Beijing to run blockchain research and development, according to local media.
Lessons from FTX: crypto investment risks and how to avoid them
The recent spate of crypto exchanges freezing customer accounts should be a wake-up call to investors everywhere. What can you do to better protect yourself?
Markets: Bitcoin slumps in broad sell off amid SEC charges against Kraken, regulation worries
Bitcoin sank below US$22,000 on Thursday morning in Asia after the U.S. SEC slapped a fine on the Kraken exchange, sparking concerns that regulators are set to take a tougher line on crypto trading.
Upgrading The Cloud
Blockchain data storage could be a game-changer in defining the future of cloud storage. Should you also be using blockchain to store your data?
CBDCs are coming. Here’s why you should worry
Governments are pushing central bank digital currencies to exert more control over macro policy, writes Josef Tětek of Trezor. But your money and privacy are also at stake.
Markets: Bitcoin falls under US$23,000 as Fed says inflation remains stubborn. Most top 10 crypto decline
Bitcoin slipped back below US$23,000 on Thursday morning in Asia, tracking the fall in U.S. equity markets overnight amid comments from Federal Reserve officials that the fight to curb inflation is far from over.
Crypto Regulation Race
2023 could be the defining year for crypto regulation – but who’s leading the race to regulation and what’s the best way about it?
Binance makes Korea comeback with GOPAX acquisition
Top blockchain and crypto news: GOPAX deal sees Binance return to South Korea. Inflation fight spooks crypto markets. Chinese liquor giant gives cheers to NFTs.
South Korea prosecutors say Serbia ready to help fraud investigation into Terra’s Do Kwon
Prosecutors flew to Serbia earlier this month as part of an investigation into Terraform Labs chief Do Kwon, who faces fraud accusations related to the US$40 billion collapse of his Terra-Luna cryptocurrency project in May last year.
Markets: Bitcoin rises above US$23,000 as Fed says ‘disinflation’ started. All top 10 tokens gain
Bitcoin traded back above US$23,000 on Wednesday morning in Asia after U.S. Federal Reserve Chairman Jerome Powell overnight said the “disinflationary process” has started in the economy.
DCG to sell Grayscale holdings at a discount to pay creditors: report
Digital Currency Group has started to sell shares of its cryptocurrency funds at a significant discount, according to a Tuesday report from the Financial Times.
Shanghai Staking Surge
Ethereum’s Shanghai upgrade brings about new changes and flexibility for investors – how much of an impact could it have on the industry?