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How regenerative finance can ease climate change and boost the bottom line

Renewable energy is plagued by financing difficulties, but blockchain technology can bridge the sector’s funding gaps, writes Brianna Welsh of Reneum.

Binance suspends international U.S. dollar transfers, CEO indicates issues with banks

Binance, the world’s largest crypto exchange, will suspend all deposits and withdrawals of U.S. dollars at its international exchanges from Feb. 8.

Markets: Bitcoin, Ether fall with bearish U.S. equities, but Bitcoin long bets jump

Bitcoin and Ether dipped in Tuesday morning trading in Asia along with all other top 10 non-stablecoin cryptocurrencies as Wall Street fell overnight on concern the Fed may crank up interest rates for longer than expected.

Control Your Crypto

As new technologies emerge, could there be a shift in crypto storage methods?

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

Bitcoin and Ethereum prices dropped in afternoon trading on Monday in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Bitcoin continued trading under US$23,000, while Solana and Polygon led losses. 

Chinese liquor giant Moutai unveils NFTs linked to liquor bottles

Moutai launched NFTs that gives owners to purchase limited edition liquor.

Filecoin developer Protocol Labs cuts 21% staff amid ‘crypto winter’

Crypto layoffs last month matching 41% of the total industry job cuts in 2022, a new study finds.

Bankrupt FTX threatens legal action to claw back donations to politicians, charities

The move marks a shift in tone from December when recipients of FTX donations were requested to “voluntarily” return the funds.

What is CeDeFi, and why it is the future of finance

CeDeFi offers the benefits of CeFi and DeFi without their shortcomings, writes Alexander Tkachenko of VNX. Here’s how it works.

Markets: Bitcoin falls below US$23,000, Ether drops as crypto market follows equities lower

Bitcoin traded below US$23,000 on Monday morning in Asia, tracking a decline in U.S. equities as unexpectedly strong job growth numbers on Friday raised concerns markets may face more interest rate hikes to slow the economy and inflation.

Binance tells Indian crypto exchange WazirX to remove funds from its platform as feud escalates

Binance has stopped providing wallet services to Indian crypto exchange WazirX, asking it to withdraw any remaining assets held in Binance wallets by Feb. 3.

Weekly Market Wrap: Bitcoin breaches US$23,000 in best monthly performance since October 2021

Bitcoin climbed more than 39% in January to break through the US$23,000 resistance ceiling in its best monthly performance since October 2021. Can the world’s first and biggest cryptocurrency maintain the upward momentum? Industry commentators share their views with Forkast.

Binance re-enters S. Korea through GOPAX equity purchase: report

Binance has returned to South Korea after a two-year break by acquiring a majority stake in the local cryptocurrency exchange GOPAX, Bloomberg reported Friday.

India working with IMF, FSB on crypto regulations, says economic affairs secretary

India, the current holder of the G20 presidency, has been working with the IMF and the Financial Stability Board FSB to develop a regulatory approach for cryptocurrencies.

China should reconsider its ban on cryptocurrencies, says former central bank official

China’s blanket ban on cryptocurrency trading can have the country miss critical opportunities for technological development, says former PBOC official.

Silvergate probed by US prosecutors over FTX, Alameda accounts: Bloomberg

U.S. prosecutors are investigating California-based cryptocurrency bank Silvergate Capital Corp. for how it handled accounts tied to now-bankrupt crypto exchange FTX and its brokerage arm Alameda Research, Bloomberg reported on Thursday, citing sources familiar with the matter.

Why DeFi remains niche and what might get it out of its market rut

DeFi is still a Wild West, and many would-be users are wary of its lawlessness and anonymity. Could decentralized IDs foster greater trust and growth in the sector?

Markets: Bitcoin dips to US$23,500, Ether inches up, other top 10 crypto mixed

Bitcoin and Ether traded mostly little changed Friday morning after a strong run up in the week, with other top 10 cryptocurrencies prices mixed.

India’s largest retailer Reliance starts CBDCs sales

Indian retail giant Reliance Retail announced on Thursday that it has started accepting digital rupee payments to become the largest Indian firm to adopt the nation’s CBDC.

China’s Suzhou city joins other regions in the country seeking to be metaverse hub

Suzhou has laid out plans to attract at least 200 companies in working with VR technology by 2025.

Donald Trump helps Polygon NFTs outsell Ethereum on OpenSea exchange for second month

The non-fungible token (NFT) project by former U.S. President Donald Trump has helped its host network, Polygon, outsell Ethereum on the leading NFT marketplace OpenSea for the second straight month, according to transaction data.

Why the cloud will be critical to US competitiveness in world finance

The future global financial system will be reliant on the cloud, especially when it comes to CBDCs and stablecoins, writes Michael Greenwald and Logan Weber.
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South Korea arrests head of Bithumb crypto exchange for alleged embezzlement

A South Korean court approved the prosecutor’s request to issue an arrest warrant for Kang Jong-hyun for alleged embezzlement.

Markets: Bitcoin breaks US$24,000 ceiling after Fed says ‘disinflationary process’ started in U.S. economy

Bitcoin rose above US$24,000 for the first time since mid-August in Thursday morning trading in Asia before sliding back slightly.

Bankrupt FTX held US$1.4B in cash at the end of 2022

Bankrupt cryptocurrency exchange FTX.com had around US$1.4 billion in cash reserves at the end of 2022, according to a financial update released Tuesday.

Islamic Crypto Finance

Islamic finance has seen growth in a time where most of the world’s economy has suffered losses. How could its integration into crypto help the industry?

Markets: Bitcoin stays above US$23,000; Cardano leads gains in top 10 cryptos

Bitcoin traded above US$23,000 throughout Wednesday afternoon trading in Asia, while Ethereum and other top 10 non-stablecoin cryptocurrencies were mixed. Cardano led gains with 2.03% followed by XRP’s 1.13%. 

Bitcoin mining fund soars as BTC powers into 2023

Top blockchain and crypto news: BTC mining ETF outperforms. SBF under pressure as accusations mount. ‘China’s Instagram’ embraces NFTs.

New Bitcoin protocol may shake up the NFT market

Bitcoin has long been the world’s largest cryptocurrency blockchain, but non-fungible tokens or NFTs were always the domain of Ethereum. A new protocol could change that, and some in the Bitcoin community are not too pleased.

Markets: Bitcoin climbs back above US$23,000 as most top 10 crypto tokens gain ground

Bitcoin prices broke back above US$23,000 in Wednesday morning trading in Asia.

Hong Kong to mandate stablecoin licensing as early as this year

The HKMA said in a consultation conclusion that algorithmic stablecoins will not be allowed in the city.

Alameda Research sues Voyager Digital for US$445.8 mln 

Alameda Research has sued bankrupt digital assets lender Voyager Digital to reclaim US$445.8 million worth in loan payments before FTX filed for its own bankruptcy.

Crypto’s Biggest Concern

There’s always the possibility of a bigger scam or a bigger hack this year than the ones we saw in 2022. So what can the crypto industry do to survive 2023?

South Korea regulator recommends unified crypto disclosure system to protect investors

South Korea’s Financial Supervisory Service has recommended a unified system for mandatory disclosure from issuers of cryptocurrencies.

Bitcoin falls in broad crypto pull back ahead of U.S. Fed meeting on interest rates

Bitcoin fell along with Ether and all other top 10 non-stablecoin cryptocurrencies in Tuesday morning trading in Asia, wiping out most of Monday’s gains.

Valkyrie’s WGMI Bitcoin Miners ETF named best-performing U.S. fund, surges 105% in 2023

Valkyrie’s Nasdaq-listed Bitcoin Miners exchange-traded fund (ETF), WGMI, has been the best-performing fund of 2023 so far, rising over 105% throughout January.

A crypto regulatory storm front is coming in 2023. Are we ready for it?

Laws to prevent another FTX blowup, crackdowns on crypto tax cheats, and a ruling on Ripple are likely imminent. A bull’s eye is also on DeFi, writes Gergo Varga of SEON.

Bitcoin mining difficulty hits new all-time high with 4.7% rise

Bitcoin’s mining difficulty level rose 4.68% on Sunday, hitting an all-time high, as the networks’ hashrate also continued to increase.

S.Korea to adopt crypto tracking software in the first half of 2023

The South Korean Ministry of Justice (MOJ) announced Thursday that it will adopt a cryptocurrency tracking system within the first half of 2023.

China’s Hainan province to step up NFT supervision

Hainan province, a popular tourist destination in South China, published a notice on Sunday vowing to step up oversight on non-fungible tokens, or “digital collectibles,” which authorities said come with risks of fraud, money laundering and illegal fundraising.

Biden administration urges U.S. congress to pursue crypto regulation

Four senior officials in U.S. President Joe Biden’s administration called for Congress to “step up its efforts” in regulating the cryptocurrency market.

Markets: Bitcoin closes in on US$24,000, lifts crypto top 10

Bitcoin was up on Monday morning in Asia, reaching its highest price in five months. Ether also rose along with all other top 10 non-stablecoin cryptocurrencies, with Solana and Litecoin posting the biggest gains.

Sam Bankman-Fried’s family members are not cooperating with FTX attorneys, court documents claim

Sam Bankman-Fried’s mother and brother are not cooperating with the FTX legal team’s investigations into the Bahamans-based exchange’s bankruptcy and misappropriation of customer funds

DOJ, FBI hack Hive Network, save US$130 mln from crypto ransomware attacks

The FBI and the DOJ have concluded a month-long disruption campaign against the Hive ransomware group, preventing victims from having to pay US $130 million.

Bankrupt BlockFi asks court to approve bonuses to keep staff

BlockFi said it needed bonus payments to keep employees from fleeing the company. But creditors argue the plan is excessive when compared to other crypto bankruptcies.

Weekly Market Wrap: Bitcoin rebounds above $23,000. Can it maintain momentum?

Bitcoin this week broke through the US$23,000 price ceiling for the first time since Aug. 2022. Can the benchmark cryptocurrency maintain its momentum? Industry commentators share their views with Forkast on what the market is telling investors and the signals from the U.S. Federal Reserve on interest rates.

Are weak DAOs inviting attacks and manipulation?

Decentralized autonomous organizations suffer from faulty code and lax governance, which the unscrupulous can easily exploit, writes Michael Lewellen of OpenZepplin.

Markets: Bitcoin dips but holds above US$23,000, Ether slips, Polygon biggest gainer in top 10

Bitcoin and Ether gave up some of their January gains in Friday morning trading in Asia, though both are still higher for the week.

Coinbase fined US$3.6 mln by Dutch central bank

The Dutch central bank (DNB) has fined U.S.-based cryptocurrency exchange Coinbase €3.3 million (US$3.6 million) for failing to obtain correct registrations

Blockchain as Enabler

The World Economic Forum’s annual meeting has come to an end. What key takeaways were there for the crypto industry?

Apple, New York Times, Hong Kong Government listed among FTX creditors

Lawyers for the bankrupt cryptocurrency exchange, FTX.com, filed a document with a list of its institutional creditors on Thursday, which included major technology firms, publications and government bodies.  

World Economic Forum’s digital asset head expects real-world blockchain adoption in 2023

Cryptocurrencies post the Terra-Luna, FTX failures were a debated topic at the World Economic Forum meeting in Davos in the week through Jan. 20, with some authorities calling for a doubling down on regulations. Others had a more nuanced view.
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An open letter to Sen. Elizabeth Warren: Your shotgun approach to crypto is dangerous for America

FTX’s implosion is spurring a regulatory scramble to rein in the crypto sector. But one influential US lawmaker may do more harm than good, writes Kadan Stadelmann, CTO of Komodo.

Markets: Bitcoin, Ether prices rise as crypto market stages rebound; Solana biggest gainer among top 10

Bitcoin and Ether rebounded in Thursday morning trading in Asia amid broad gains in the top 10 non-stablecoin cryptocurrencies.

DCG-owned Luno exchange to axe 35% of its staff

Cryptocurrency exchange Luno, the London-based trading platform owned by venture capital firm Digital Currency Group (DCG), will let go of 35% of its global workforce

EU looks to place limit on banks holding crypto

European Union lawmakers have voted in favor of a draft bill that imposes stricter capital requirements on banks holding crypto assets.

Will Genesis meet its maker amid creditors closing in?

Top blockchain and crypto news: Genesis bankruptcy begins. FTX chief ponders a reboot. China’s CBDC gets a smart-contract upgrade.

Markets: Bitcoin, Ether extend losses; Solana, Cardano biggest losers in top 10 cryptos

Bitcoin and Ethereum fell in Wednesday afternoon trading in Asia, as Solana and Cardano led losses among the other top 10 non-stablecoin cryptocurrencies by market capitalization.

Blockstream says it raised US$125 million to expand Bitcoin mining operations

Blockchain infrastructure firm Blockstream Corporation Inc. on Tuesday said it raised US$125 million from convertible note and secured loan financing to expand its Bitcoin mining operations and meet strong demand for what it called “institutional hosting services.”

Japan’s financial regulator aims to lift ban on foreign stablecoins by June this year

Japan plans to introduce regulations by June this year that will allow domestic investors to trade certain stablecoins from overseas.

Markets: Bitcoin, Ether dip as investors take profits; earnings reports, economic data rattle equities

Bitcoin and Ether fell in Wednesday morning trading in Asia, along with the other top 10 non-stablecoin cryptocurrencies as investors seemed to be taking profits after the strong gains in crypto prices since the start of the year.

Regulators should not legitimize ‘purely speculative’ crypto activity: Singapore’s monetary authority chief

Regulators should not legitimize “purely speculative” activity in crypto markets following the collapse of FTX, said Monetary Authority of Singapore Chairmen.

Markets: Bitcoin rises above US$23,000; Polkadot, BNB lead gains across top 10 cryptos

Bitcoin broke the US$23,000 resistance line in Tuesday afternoon trading in Asia, with most other top 10 non-stablecoin cryptocurrencies by market capitalization also higher.

Bankrupt crypto lender Genesis ‘optimistic’ about resolving creditor dispute: Reuters

Genesis Global Capital’s lawyers are confident about resolving their disputes with creditors this week, with the goal of emerging from Chapter 11 in May.

Ethereum’s Shanghai Mainnet moves one step closer as “Shadow Fork” goes live

Software developers for Ethereum, the world’s second-largest blockchain, on Monday said they successfully deployed a copy of the blockchain — or “shadow fork” — to run tests of the upcoming Shanghai hardfork upgrade scheduled for March.

Why Islamic finance is thriving despite global market storms

While much of the world economy remains mired in winter doldrums, it’s springtime for the Islamic finance sector. Mohammed AlKaff AlHashmi of Islamic Coin explains why.

Markets: Bitcoin edges higher, Ether little changed; XRP, Polkadot post strong gains in mixed market

Bitcoin edged higher to the US$23,000 resistance line, while Ether traded little changed in mixed early morning trading in Asia on Tuesday.

India’s CoinDCX exchange says crypto tax rules are reducing government revenue

India announces its full year budget on Feb. 1, the last before general elections in 2024, and the cryptocurrency and digital asset industry is lobbying the government for changes in tax rules, among others.

Binance says Signature Bank no longer supports crypto exchange transactions of under US$100,000

Signature Bank will not handle transactions of less than US$100,000 for crypto exchange customers starting in February, according to exchange giant Binance.

U.S.’ first nuclear-powered Bitcoin mining center to open in Q1

The U.S. will open its first nuclear-powered data center offering Bitcoin mining in the first quarter of the year.

Crypto ads should include risk warnings, says South African advertising regulation group

Crypto ads airing in South Africa must warn potential investors of risks, according to new guidelines by the country’s Advertising Regulatory Board (ARB).

Why Europe’s DORA regulation is a band aid but not a cure

EU’s new Digital Operational Resilience Act aims to help firms withstand cyberattacks. Monica Oravcova of Naoris Protocol explains why it doesn’t go far enough.