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Japan plans to lift ban on stablecoins issued overseas: report

Japan’s Financial Services Agency (FSA) reportedly plans to allow the circulation of foreign-issued stablecoins in the local market next year.

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.

Will FTX’s collapse decentralize the industry? 

While the collapse of FTX may invite more scrutiny for centralized exchanges, Binance’s Patrick Hillmann believes it could benefit the industry through more decentralization.

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.

India’s religious festivals coming to a metaverse near your avatar?

India loves religious festivals, but are its citizens ready to attend such celebrations in virtual reality? An Indian startup reckons they are and launched its first effort this year, saying 20,000 avatars showed up.

Top Solana NFT projects find new homes on Ethereum, Polygon

Top Solana-based NFT projects DeGods and Y00ts are moving away from the network, both projects announced on Twitter on Monday.

BTC.com hacked, around US$3 mln assets stolen

Blockchain browser and mining pool BTC.com said on Monday that it got hacked earlier this month, and lost around US$2.3 million of its own assets and US$700,000 of clients’ assets.

Markets: Bitcoin, Ether rise; XRP leads gains

Bitcoin and Ether edged up slightly on Tuesday morning in Asia, along with nearly all other non-stablecoin top 10 cryptocurrencies. XRP led the gains with about 5.6%, followed by Cardano and Polygon.

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.

Will the crypto industry grow beyond speculation in 2023?

The FTX collapse was a pivotal point the cryptocurrency industry needed to grow beyond just a speculative asset class, Ledger’s Alex Zinder says.

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.

Markets: Bitcoin slips, Ether inches up; Dogecoin leads rebound in top 10 cryptos

Bitcoin slipped and Ether inched up in Asian trading on Friday afternoon, with Dogecoin leading gains across the top 10 non-stablecoin cryptocurrencies by market capitalization.

FTX asks court to keep US$450 mln Robinhood shares frozen

Failed cryptocurrency exchange FTX Trading Ltd. has asked a bankruptcy court to keep US$450 million worth of Robinhood shares frozen, as three parties battle for the true ownership of the assets. 

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.

SEC, Ripple get extensions to exclude expert testimony in XRP lawsuit

The federal judge in the ongoing lawsuit between the SEC and Ripple has granted a joint motion from all parties to extend the deadline for the Daubert Motions that would exclude certain expert testimonies.

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.

To unwrap Web3’s promises, we must break the barriers to blockchain adoption

Despite blockchain’s potential, barriers to use still stand in the way, writes Andrew Vranjes of Blockdaemon. Solving security issues and reducing risk will be key.

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.

U.S. crypto miner Core Scientific files for Chapter 11 bankruptcy, continues to mine Bitcoin

Core Scientific, one of the largest publicly traded crypto mining firms in the U.S., filed for Chapter 11 bankruptcy protection in the state of Texas on Wednesday.

US bill set to demand know-your-customer from crypto companies

Top blockchain and crypto news: US senators push for crypto KYC. SBF faces the music in US courts. Alibaba Cloud to launch blockchain node.

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.
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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.

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.

Bitcoin mining difficulty rises 3.27% in latest adjustment

The latest Bitcoin mining difficulty level rose 3.27%, as miners continue to face cash shortages due to low Bitcoin prices and high energy costs.

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

Web 3.0 firms must ‘keep costs low,’ improve efficiency to navigate downturns, says Rotten Tomatoes cofounder

Patrick Lee, who cofounded Rotten Tomatoes and PKO Investments, says the US$35 million investment company has slowed Web 3.0 investments significantly.

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.

Ripple CEO’s attorney to resign as counsel on XRP lawsuit against SEC

Ripple CEO Bradley Garlinghouse’s attorney has applied to withdraw as his counsel in Ripple’s ongoing lawsuit against the SEC.

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.

Binance’s proof-of-reserves auditor suspends work for crypto firms

Mazars, the financial auditing firm behind Binance’s proof-of-reserves (PoR) audit, has suspended all work for crypto firms.

Web3 Needs Women

Better awareness needed to persuade girls into blockchain careers.

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

FTX seeks permission to sell Japan, Europe entities and LedgerX

Attorneys representing FTX are requesting permission from the U.S. bankruptcy court to sell four of the company’s branches: FTX Japan, FTX Europe, Embed, and LedgerX.