Biggest blockchain trends for 2023 and beyond
After a year of new all-time highs for major cryptocurrencies in 2021, 2022 was a challenging year for Web3. Industry experts tell Forkast what crypto has in store for 2023 and beyond.
Markets: Bitcoin, Ether slide; BNB leads gains across top 10 cryptos
Bitcoin and Ether prices dropped on Wednesday morning in Asia while other non-stablecoin top 10 cryptocurrencies posted mixed results with BNB leading gains.
Markets: Bitcoin, Ether extend gains; XRP biggest winner in top 10 cryptos
Bitcoin and Ethereum extended gains on Tuesday afternoon in Asia along with almost all other non-stablecoin top 10 cryptocurrencies by market capitalization. XRP was the biggest winner, rising nearly 4.8% in the last 24 hours.
Blockchain gets religion? Taiwan temple mints NFTs of local sea goddess
A centuries old Taiwan temple dedicated to a popular goddess has latched onto non-fungible tokens or NFTs as a means for worshippers to get access to pilgrimages and other events.
Markets: Bitcoin, Ether inch up, Dogecoin leads decline across top 10 cryptos
Bitcoin and Ethereum inched up in Monday afternoon trading in Asia. Most other non-stablecoin top 10 cryptocurrencies by market capitalization were little changed
14 years on, why Bitcoin will survive its growing pains
Like an awkward teen, Bitcoin is facing a crisis of confidence, writes Eddie Hui of MetaComp. What lies in store for the original cryptocurrency in 2023?
Sam Bankman-Fried, FTX misled investors, lent billions to Alameda, Caroline Ellison says
Caroline Ellison, former chief executive of trading firm Alameda Research, told a federal judge last week that she agreed with executives of FTX, including former CEO Sam Bankman-Fried, to mislead lenders and customers on how much Alameda was borrowing from the now-bankrupt exchange.
Bitcoin hashrate drops nearly 40% as deadly U.S. storm unplugs miners
The Bitcoin network hashrate has dropped by more than 38.8% from its peak on Wednesday, as many U.S.-based miners have been forced to switch down their facilities due to deadly blizzards. See related article: British Columbia suspends new electricity connections for crypto miners Fast facts See related article: Bitcoin mining difficulty rises 3.27% in latest […]
Markets: Bitcoin, Ether little changed; Dogecoin falls
Bitcoin and Ether changed little on Monday morning, along with nearly all other non-stablecoin top 10 cryptocurrencies by market capitalization.
No change in community banks’ view of crypto after FTX’s collapse, says ICBA’s Brian Laverdure
ICBA vice-president Brian Laverdure believes that community banks are unfazed by FTX’s collapse, but remain split on cryptocurrencies.
Time for reflection: How will FTX’s implosion impact crypto regulation?
This year’s cascade of crypto collapses should be a wake-up call to regulators, says the Independent Community Bankers of America’s Brian Laverdure.
Hong Kong arrests two for suspected involvement in digital asset fraud on AAX
Hong Kong’s commercial crime investigation bureau on Friday arrested two local men for suspected involvement in digital asset fraud on Atom Asset Exchange (AAX)
Worship in Web3
With Christmas around the corner we look at how religions are embracing blockchain and the metaverse.
Can crypto go mainstream in the next 18 months?
As the FTX debacle invites more stringent regulations, Caroline Bowler of BTC Markets believes crypto can go mainstream in the next 18 months.
The last 12 months the year to forget, says India’s WazirX crypto exchange
A lot of the troubles for India exchanges in 2022 will run into next year as they shed staff and run down reserves to stay afloat, and not all are expected to make it.
Sam Bankman-Fried home for Christmas after making US$250 million bail in U.S.
Bankman-Fried won an upgrade from his Bahamas prison cell after posting bail following his extradition to the U.S. on Wednesday, where he faces charges for what prosecutors called “fraud of epic proportions.”
Markets: Bitcoin, Ether prices edge up; Dogecoin rebounds after heavy losses
Bitcoin and Ether traded higher Friday morning in Asia, along with nearly all other non-stablecoin top 10 cryptocurrencies. Dogecoin led the gains with a rise of nearly 4.5%, followed by Cardano and XRP. BNB edged lower.
Crypto’s traumatic year
This year hasn’t been the easiest for investors, will 2023 be better?
Decentralized exchanges could gain popularity following the FTX collapse
Ethan Buchman of Cosmos believes that 2023 may be the year of decentralized exchanges and more advanced cross-chain applications.
Retiring U.S. Senator Pat Toomey introduces bill for regulating stablecoins
U.S. Republican Senator Pat Toomey introduced a bill on Wednesday to set regulations for stablecoins and to further “sensible” regulation of cryptocurrency.
British Columbia suspends new electricity connections for crypto miners
British Columbia has paused new electricity connection requests from crypto miners for 18 months to support the province’s climate action.
U.S. authorities say two FTX, Alameda executives have pleaded guilty to fraud
Caroline Ellison and Gary Wang, two integral members of the Sam Bankman-Fried now collapsed cryptocurrency businesses, are cooperating with prosecutors.
Bankrupt miner Core Scientific may sell facilities under development: report
Core Scientific said it may sell some of its mining facilities under development that could be worth up to a gigawatt of power after it filed for bankruptcy protection.
Ban crypto or brace for the next financial crisis, RBI governor warns
The next financial crisis will come from “private cryptocurrencies” if they are not banned, RBI Governor Shaktikanta Das said at a banking and finance event on Wednesday.
Markets: Bitcoin, Ether continue slide; U.S. equities gain on consumer confidence boost
Bitcoin and Ether fell in Thursday morning trading in Asia, along with all other non-stablecoin top 10 cryptocurrencies. Polkadot led losses with a drop of more than 2%, with Cardano and BNB following close behind.
Regulation shaping up?
A year of scandals in the crypto industry has led to questions about the viability of regulation.
Will Bitcoin’s true value prevail in 2023?
As crypto investors move towards self-custody following FTX’s collapse, Brian Paik wonders whether it could teach people the true value of Bitcoin, beyond hype and price speculation.
Markets: Bitcoin, Ether inch up; Dogecoin remains biggest loser in top 10 cryptos
Bitcoin and Ether gained in Asian trading on Wednesday afternoon, with Dogecoin continuing to lead declines across the top 10 non-stablecoin cryptocurrencies
FTX says it has over US$1B in cash assets
The new restructuring team of FTX has reportedly located over US$1 billion in cash assets that are held in U.S. financial institutions.
Retail-owned Bitcoin supply reaches all-time high
The supply of Bitcoin owned by retail investors has reached an all-time high of around 17%, according to blockchain research firms Glassnode and IntoTheBlock.
BlockFi asks U.S. bankruptcy court to unfreeze accounts for some of its users
BlockFi, an early victim of the financial contagion caused by the collapse of the FTX cryptocurrency exchange, said it wants to return assets locked up in its bankruptcy proceedings.
Markets: Bitcoin rises, Ether gains on potential Visa integration, BNB rebounds
Bitcoin prices rose Wednesday morning in Asia amid a week of volatile price movements in end-of-year trading.
Bitcoin miner Greenidge strikes deal with NYDIG to restructure debt
Troubled U.S.-based Bitcoin mining firm Greenidge Generation Holdings Inc. has entered a debt restructuring agreement with NYDIG, a cryptocurrency service provider to which Greenidge owes US$74 million.
FTX founder Sam Bankman-Fried set to return to the U.S. on Wednesday
Sam Bankman-Fried, former CEO of FTX, has signed documents in the Bahamas for extradition and is scheduled to the U.S. on Wednesday.
Regulatory issues ‘still challenging’ as CBDCs gain popularity globally, says German tech firm Giesecke+Devrient’s Chief Evangelist Lars Hupel
Central bank digital currencies (CBDC) development and interest are growing rapidly worldwide but regulatory issues remain a challenge, especially for cross-border CBDC transactions. But German technology company Giesecke+Devrient (G+D) – winner of Best Technology Award in the Hong Kong Monetary Authority’s Global Fast Track CBDC 2022 competition during the city’s FinTech Week in November – […]
A year of scams
Crypto proved to be breeding ground for scams in 2022. Will next year be different?
South Korea freezes US$93 mln in assets of former Terra-Luna associates
A S.Korean court has approved prosecutors’ request to freeze assets of US$93.3 million belonging to seven former associates of Terraform Labs.
Visa explores auto payments on Ethereum
Visa is researching ways to introduce recurring, automatic payments for self-custodial Ethereum wallets.
Markets: Bitcoin, Ether gain; Dogecoin is biggest loser in top 10 cryptos
Bitcoin and Ether gained in Asian trading on Tuesday afternoon, with Dogecoin leading declines across the top 10 non-stablecoin cryptos
The next hundred million crypto users may come from gaming, Animoca founder says
With highly anticipated blockchain games set to hit the shelves in 2023, Animoca Brand’s Yat Siu sees the next opportunity to onboard the generation of crypto users.
Bankrupt Voyager Digital says it accepted Binance bid for assets valued at US$1 billion
The deal will need approval in a court hearing on January 5 and also faces a vote by creditors under Voyager’s chapter 11 bankruptcy filing.
S. Korea’s Busan city crypto exchange moves ahead without global partners
Busan announced the steering committee for its flagship exchange, but it didn’t include global partners earlier linked to the project.
What the FTX collapse means for the future of crypto
Centralized exchanges releasing ‘proof of reserves’ is not enough to win back users, while improving user experience will be key, writes Holger Arians of Banxa.
Sam Bankman-Fried extradition in doubt after confused court hearing in Bahamas
FTX founder Sam Bankman-Fried appeared in court in the Bahamas, but did not agree to be extradited to the U.S.
Markets: Bitcoin, Ether fall; Dogecoin drops after poll says Musk should quit as Twitter boss
Bitcoin and Ether prices fell in Tuesday morning trading in Asia as concern about the stability of crypto exchanges and a possible global recession continued to weigh on markets.
Binance acquires Indonesian crypto exchange Tokocrypto
Binance, the world’s largest cryptocurrency exchange, has acquired Indonesia-based crypto exchange Tokocrypto, according to a CNBC report
Blockchain Education
According to a Linkedin/OKX report, recruitment in the blockchain industry has always been a challenge, but formal education institutions are taking the lead in training the next generation of talent.
NFTs may become the “Lego blocks” of Web3 in 2023, Gary Liu says
Gary Liu of Artifact Labs believes that NFTs will gain more utility and become the building blocks of Web3
India’s CoinDCX publishes full proof of reserves
Cryptocurrency exchange CoinDCX, India’s first crypto unicorn, published its complete proof of reserves (PoR) on Monday detailing its USDT liabilities and reserves.
Markets: Bitcoin, Ether dip; XRP leads declines across top 10 cryptos
Bitcoin and Ether fell in Asian trading on Monday afternoon, with XRP leading declines across the top 10 non-stablecoin cryptocurrencies
How Web3 can make travel less stressful for future holidays
The travel sector has many pain points and is ripe for disruption, writes Freddie Hickman of Hyper SQ. Here’s what blockchain can do, from tracking baggage to letting you resell your no-longer-wanted air ticket.
South Korea’s ‘metaverse’ province says will use virtual platform to expand ties with Vietnam
South Korea’s Gyeongbuk Province plans to use the metaverse to expand economic and other relations with Vietnam.
Markets: Bitcoin, Ether little changed after weekend slump; Binance BNB token regains some ground
Bitcoin and Ether were little changed on Monday after a weekend slump amid worries about a global recession and the stability of crypto exchanges.
Venture capital firms slow Web 3.0 investments as investors turn cautious
Several venture funds tell Forkast they have become conservative and are only investing in ‘true believers’ of Web 3.0
Markets: Bitcoin, Ether weaken; Litecoin leads declines across top 10 cryptos
Bitcoin and Ether fell in Asian trading on Friday afternoon, with Litecoin leading declines across the top 10 non-stablecoin cryptos
Safe as houses? How tokenizing real estate offers a new approach to bricks-and-mortar investment
Putting property on-chain is a novel way of opening up opportunities for investors and landlords alike. The second article in Forkast’s three-part series on real estate tokenization explores what they stand to gain.
Hong Kong’s SFC appoints new chief who calls for stronger crypto regulation
Julia Leung, the next chief executive of Hong Kong’s Securities and Futures Commission (SFC) due to start her three-year term on Jan. 1, called for stricter crypto regulation when speaking at the city’s Fintech Week last month.
US lawyers, Bahamas liquidators trade barbs over who rules FTX bankruptcy jurisdiction
Sam Bankman-Fried has reportedly made a second application for bail in the Bahamas – this as lawyers feud over control of the FTX bankruptcy, raising concern the sour grapes may seep into efforts to have Bankman-Fried extradited to face fraud charges in the U.S.
Hong Kong Stock Exchange debuts ‘Asia’s first’ crypto futures ETFs
Hong Kong launched two exchange-traded funds (ETFs) tracking cryptocurrency futures on Friday, the first of their kind in Asia, the local exchange said.
Japan plans to ease corporate tax rates for cryptocurrency issuers
Japan’s ruling party approved a proposal that exempts companies issuing crypto from taxes on unrealized gains on retained tokens.
Markets: Bitcoin, Ether fall with equities as concerns about recession knock Wall Street lower
Bitcoin and Ether prices fell Friday morning in Asia, along with most of the top 10 non-stablecoin crypto, as U.S. stocks had their biggest declines in weeks.
Crypto Job Troubles
The crypto winter is far from over, but perhaps the bear market could also present new opportunities for the industry.
Animoca founder says Asia is ‘moving on’ from FTX fiasco
Asia’s cryptocurrency community is “on the path of moving on” from the FTX fiasco, following the arrest of FTX founder Sam Bankman-Fried, said Yat Siu, cofounder and chairman of Hong Kong-based blockchain gaming studio and venture capital firm Animoca Brands.
Markets: Bitcoin, Ether fall; Solana rises as top 10 cryptos retreat
Bitcoin and Ether weakened in Asian trading on Thursday afternoon, with Solana rising amid drops across other top 10 non-stablecoin cryptocurrencies
Binance “deliberately” caused FTX collapse, Kevin O’Leary claims
Kevin O’Leary Kevin O’Leary, chairman of venture capital firm O’Leary Ventures and star of TV’s Shark Tank, said in a congressional hearing on Wednesday that Binance Global Inc.’s chief executive and founder Changpeng Zhao deliberately caused the collapse of Bahamas-based cryptocurrency exchange FTX.com.
Japan ruling party lawmaker calls for regulatory clarity after FTX debacle
A Japanese lawmaker called for more transparent regulations following the FTX meltdown, where investors were not warned of the risks with FTX Token.
MetaMask partners with PayPal for Ethereum purchases through wallet
ConsenSys Inc., the company behind leading crypto wallet MetaMask, announced on Thursday a new partnership with PayPal Holdings Inc.
Could NFTs have prevented Taylor Swift’s concert tickets debacle?
The trillion-dollar concert ticketing sector is plagued by scalping and other Web2-era problems, writes Ryan Kenny of SeatlabNFT. Here’s how blockchain can help fans and artists.
FTX collapse not the worst for crypto investors this year, says Chainalysis study
The bankruptcy of cryptocurrency exchange FTX doesn’t represent the biggest losses for crypto investors in 2022, according to a report from Chainalysis.
Markets: Bitcoin rebounds then retraces amid hawkish Fed comments, Solana gains
Bitcoin held onto gains in Thursday morning trading in Asia, though had pulled back from an earlier spike above US$18,000 as the U.S. Federal Reserve raised interest rates in line with expectations.
FTX Probe Begins
SBF was arrested by Bahamian authorities just a day before he was due to testify before Congress – but his successor has been revealing much about FTX’s collapse.
South Korean official says no confirmation Binance pulling out of Busan city crypto exchange project
An official in the South Korean city of Busan said the authorities have received no confirmation that Binance has pulled out of a partnership to establish the country’s first city-backed crypto exchange, as reported by local media.