Where is the stablecoin market heading in 2023?
FTX’s collapse triggered a stablecoin sell-off, but we will need them to survive the Crypto Winter, writes Vladimir Gorbunov of Choise.com.
U.S. subpoenas hedge funds in Binance probe: report
Federal prosecutors have issued subpoenas to several U.S. hedge funds that have dealt with the world’s largest cryptocurrency exchange, Binance Global Inc.
Markets: Bitcoin back above US$17,000; Ether, crypto market extend weekend gains
Bitcoin and Ether rose in Monday morning trading in Asia, rising with the rest of the top 10 non-stablecoin cryptocurrencies by market capitalization, with Cardano and BNB changing the most.
Ripple Decision Soon?
Ripple expects a SEC ruling on a two-year-old suit and what regulations it could bring about.
Lido DAO surges 35% over the last week, BitDAO gains 22%: Why?
LDO surged as Ethereum’s upcoming March upgrade is expected to resolve current risks in ETH staking. BitDAO also gained with its buyback plan.
Animoca Brands slashes Web3 fund target to US$1B: Bloomberg
Animoca Brands Corp. has scaled down the target amount for its Web 3.0 and metaverse investment fund to US$1 billion.
Markets: Bitcoin, Ether little changed; Polygon, XRP lead losers; Cardano holds onto gains
Bitcoin and Ether traded little changed Friday morning in Asia, with most other top 10 non-stablecoin cryptocurrencies losing ground.
Markets: Bitcoin slips, Ether unchanged, Dogecoin gains most among top 10 coins
Bitcoin edged down and Ether remained unchanged on the day, in Thursday afternoon trading in Asia. Dogecoin was the biggest gainer among the top 10 non-stablecoin cryptocurrencies, while Litecoin recorded the largest loss.
U.S. authorities to seize US$460 mln of Robinhood shares in FTX fraud case
U.S. prosecutors are moving to seize the US$460 million worth of Robinhood Markets Inc., shares linked to Sam Bankman-Fried, the former chief executive officer of Bahamas-based bankrupt cryptocurrency exchange FTX.com
How ‘naming collisions’ threaten the promise of Web3
What are ‘naming collisions,’ and why will unique user-owned identities play a pivotal role in Web3’s future success? Matthew Gould explains.
Markets: Bitcoin, Ether rise with most other tokens amid mixed signals on U.S. economic outlook
Bitcoin and Ether rose in Thursday morning trading in Asia along with most other top 10 non-stablecoin cryptocurrencies. Cardano led the gainers, while Litecoin and Tron were the only ones on that list to fall.
Alameda Research transfers spark suspicions as SBF denies involvement
Top blockchain and crypto news: Where is Alameda Research’s money going? US tax loophole may give crypto investors a break. China’s blockchain momentum builds.
Indonesia to set up crypto stock exchange this year: report
Indonesia plans to set up a crypto stock exchange in 2023, ahead of moving regulatory powers to securities authorities from a commodities jurisdiction.
Crypto, digital assets account for 69% of online investment scams in Hong Kong
The Hong Kong Police received 1,503 online investment scam complaints over the first 10 months of 2022, 70% were related to cryptocurrencies.
Binance declines comment on speculation it may buy South Korean crypto exchange GOPAX
Binance declined to comment on reports in local media that it is in late stage talks to acquire South Korean digital asset exchange GOPAX.
Magic Eden NFTs display explicit content, ‘Big Bang Theory’ images
Images on Magic Eden, the largest Solana-based non-fungible token (NFT) marketplace, displayed pornographic content and popular sitcom series “The Big Bang Theory” on Tuesday Asia time instead of users’ NFTs.
Sam Bankman-Fried pleads not guilty to fraud charges in FTX exchange collapse
Sam Bankman-Fried, the founder of the FTX cryptocurrency exchange that collapsed in November with billions of dollars in investor funds missing, pleaded not guilty to charges of fraud on Tuesday in New York.
Bahamas regulator denies FTX CEO’s claims over seized assets
The Securities Commission of The Bahamas has rejected “material misstatements” made by FTX’s newly-appointed CEO, John J. Ray III
Bitcoin mining difficulty drops 3.6% in latest adjustment
The Bitcoin mining difficulty level fell 3.59% on Tuesday morning in Asia, after some U.S. mining firms unplugged due to deadly winter storms over the holiday season on top of continued cash shortages mainly caused by low Bitcoin prices and high energy costs.
DCG’s Silbert, Gemini’s Winklevoss start Twitter spat over frozen funds, billion dollar loans
Barry Silbert, the CEO of Digital Currency Group rejected claims that the company borrowed US$1.6 billion from its Genesis Global Capital.
Hong Kong financial service providers gear up for retail crypto traders
Hong Kong’s financial services providers, including local brokers and fund managers, are seeking advice to prepare for new licensing requirements which will allow them to provide services to retail traders, according to a media report.
Will 2023 be the year of institutional DeFi adoption?
Despite a potential regulatory crackdown, 1inch Network’s Sergej Kunz believes institutions will start adopting DeFi on a large scale.
How crypto custodians can help centralized exchanges win back public trust
In the post-FTX world, crypto exchanges must offer stronger protection for investors’ assets, writes Colin Brooks, chairman of the advisory board of Hex Trust.
OKX’s OKB, OKT tokens surge at least 13% each after 85% quarter
OKB, the utility token of OKX, jumped by up to 15% during Asia trading hours on Monday. OKT, the native token of the OKX Chain, was up 13%.
FTX founder Sam Bankman-Fried allegedly cashes out US$684,000, on-chain data show
On-chain data showed that Sam Bankman-Fried, the founder of the now-bankrupt FTX exchange, sent around 570 Ether worth US$684,000 to a Seychelles-based exchange and Ren Protocol’s Bitcoin bridge on Wednesday
‘Tis the season for crypto tax-loss harvesting: IRS, regulators remain silent on crypto tax loophole ahead of new year
The past year has been tumultuous for crypto investors, with a bear market wiping out over half of Bitcoin’s market capitalization. However, with the end of the American tax year just days ahead, taxpayers could get some money back.
Bahamas regulators hold US$3.5 bln of FTX assets, to be delivered to customers, creditors
The Securities Commission of the Bahamas is temporarily holding US$3.5 billion of digital assets seized from FTX Digital Markets
Stablecoins likely next in risk line, Karpelès says
A downward spiral of an algorithmic stablecoin was the beginning of the cryptocurrency industry’s troubles in 2022. Former Mt.Gox CEO Mark Karpelès says that the stablecoin drama is not over.
Markets: Bitcoin, Ether slip; Dogecoin biggest loser among top 10 cryptos
Bitcoin and Ether inched down during Asia trading hours on Friday afternoon, with Dogecoin leading losses among the top 10 largest non-stablecoin cryptocurrencies.
A series of events: Crypto’s 2022 timeline
Cryptocurrencies had a turbulent 2022 to say the least. Blockchain technology made progress but that failed to offset the multiple bankruptcies and hacks that plagued the industry through the year.
China state-backed NFT trading platform to launch on Jan. 1
“China Digital Asset Trading Platform,” a non-fungible token (NFT) marketplace developed by state-owned entities and a private sector firm, has been set for launch on Jan. 1, 2023, state media outlet China Daily reported on Tuesday. See related article: NFTs ruled virtual property in China, its sales protected by law Fast facts See related article: […]
Markets: Bitcoin, Ether little changed; XRP leads losses in top 10 cryptos
Bitcoin and Ether dropped slightly during Asian trading hours on Thursday afternoon, with XRP leading losses across the top 10 non-stablecoin cryptocurrencies by market capitalization.
How crypto crimes are evolving, and what to expect in 2023
Ponzi schemes, investment scams and rug pulls have drained billions from crypto users in recent years. What new kinds of crypto crimes are on the horizon?
South Korea keeps betting on the metaverse, ignoring the current clunky technology
South Korea took a real shine to the metaverse in 2022, with the central government, regions and cities all interested in getting a piece of the virtual reality pie, despite criticism that the technology has a long way to go.
Japan game maker Gumi strikes US$52 mln metaverse deal with Square Enix, SBI
Japan-based game company Gumi has announced a business alliance with Square Enix SBI Holdings to grow its metaverse business.
Argo Blockchain shares soar after selling Texas mining facility to Galaxy Digital
Bitcoin miner Argo Blockchain PLC’s stock price spiked by more than 100% during U.K. trading hours on Wednesday and to close 73.33% higher on the London Stock Exchange.
FTX founder Sam Bankman-Fried likely to enter plea deal: report
Sam Bankman-Fried is expected to enter a plea deal next week to fraud charges connected to the collapse of cryptocurrency FTX Reuters reported.
FTX customers file lawsuit for priority repayment
Former customers of FTX have filed a class action lawsuit against the bankrupt cryptocurrency exchange and its top executives, including Sam Bankman-Fried, to seek priority rights to repayment before any non-customer creditors.
A year to remember, a year to forget: Crypto highs and lows of 2022
From Terra and FTX crises to Ethereum’s triumphant Merge and China’s inventive NFT industry, Forkast reviews a rollercoaster year and its consequences.
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.
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.
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.
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
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 […]
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.
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.
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.
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.
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.
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.
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.
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.
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 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.
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.
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.
Web3 Needs Women
Better awareness needed to persuade girls into blockchain careers.