Crypto community pushes back following CFTC charges against Ooki DAO
The Commodity Futures Trading Commission faces criticism from cryptocurrency industry as opposition grows over “unprecedented” charges against the Ooki DAO.
Upbit exchange to use LUNC fees to set up crypto monitoring center
Upbit, South Korea’s largest cryptocurrency exchange, is using fees it collected from Luna Classic (LUNC) transactions to establish a crypto monitoring center in a gesture to help compensate for the losses from the Terra-LUNA debacle, according to local media reports. See related article: Interpol issues red notice for Do Kwon, says South Korean prosecutor Fast […]
China busts ‘world’s dumbest thieves’ in digital yuan money laundering case
Chinese authorities can track e-CNY wallet transaction history, if warranted, thanks to its ‘managed anonymity’ design.
Is crypto in a deep funk? Think again
Beyond the bear market, Web3 technology is shining bright in gaming and music, writes Hannes Graah of Gro. Are we at a tipping point for mass adoption?
China says it busted US$5.6B crypto money laundering ring
Chinese police said they have busted a criminal group that used cryptocurrencies to launder 40 billion yuan (US$5.6 billion) as authorities crack down on illicit fund flows in the country. See related article: China lashes out at crypto fraud on World Consumer Rights Day Fast facts Police in Hengyang, a county in China’s southern province […]
Is the Philippines on track to becoming a blockchain hub?
The Philippines now ranks 2nd in the world for crypto adoption, but its path ahead is unclear, writes Emman Navalan. What are the hurdles it must overcome?
California governor vetoes bill requiring crypto-related businesses to obtain special license
A bill that proposed a regulatory and licensing framework for crypto companies was rejected by Gov. Gavin Newsom amid a broader national debate concerning the policing of digital assets.
Interpol issues red notice for Do Kwon, says South Korean prosecutor
South Korea is pursuing different options to get custody of Do Kwon as the Terraform Labs CEO faces charges for his alleged involvement in the multibillion collapse of the Terra-LUNA stablecoin project.
Markets: Bitcoin price falls below US$19,000, ETH down, XRP continues to rise
Bitcoin traded below the US$19,000 mark in early Monday trading in Asia after fluctuating around the resistance level all week. Ethereum and most other tokens in the cryptocurrency top 10 by market capitalization lost ground. XRP once again defied broader market forces and was up on the day. See related article: Markets: XRP soars 23%, […]
South Korea’s Busan city wants to be blockchain central. Did everyone get the memo?
The coastal city was a prominent manufacturer of footwear, fabric and other light industries during the 1970s and 80s, and then grew into one of the world’s biggest container ports. Now it’s trying to reinvent itself in the digital world of blockchain.
World Economic Forum launches coalition to use web3, blockchain for positive climate action
The World Economic Forum is launching a new Crypto Sustainability Coalition, consisting of 30 partners within the intersection of sustainable development and web3, crypto, and blockchain technologies, the international non-government organization (NGO) announced in a Webinar on Wednesday in New York, U.S.
DBS offers self-directed trading for accredited investors
DBS Bank Ltd., Southeast Asia’s largest lender, has launched a self-directed cryptocurrency trading service for accredited wealth clients. See related article: Asia banking giant DBS jumps into The Sandbox metaverse Fast facts The bank’s wealth clients have been favoring self-directed options, with digital trades dominating 90% of equity transactions, DBS said in a press release […]
Coinbase gets nod from Dutch central bank to offer crypto services
Coinbase, one of the world’s largest cryptocurrency exchanges, has obtained regulatory approval in the Netherlands, as the U.S.-based exchange looks to expand its presence globally. See related article: Coinbase hit with lawsuit over allegedly poor security Fast facts Coinbase said on Thursday in a statement that it has registered with De Nederlandsche Bank, the central […]
UK bill allows law enforcement to ‘seize, freeze, recover’ crypto assets
The United Kingdom has introduced a bill that would enable its law enforcement agencies to “seize, freeze and recover” crypto assets, to prevent cyber crime and money laundering. See related article: UK watchdog: Crypto firms fall short on anti-money laundering rules Fast facts The reforms to the governmental Companies House, including issues beyond crypto, are […]
Gansu Province warns no crypto mining within national data centers
The Chinese province of Gansu says that it will “strictly prohibit crypto mining” in the server rooms for China’s mega digital Eastern Data and Western Computing infrastructure project, according to a policy document. See related article: GBA among regions for China’s blockchain-powered data hubs Fast facts See related article: China’s Zhejiang busts state-owned entities on […]
Markets: Cryptocurrencies up amid Cardano’s Vasil hard fork, XRP leads gains
Bitcoin bounced back above US$19,000 in Friday morning trading in Asia as Cardano announced a successful hard fork to their upgraded Vasil network. XRP led gains among the top 10 cryptocurrencies by market capitalization. See related article: Cryptocurrency lobby group gets court approval to weigh in on SEC vs Ripple’s XRP lawsuit Fast facts Bitcoin […]
Binance taps ex-U.S. senator Max Baucus to chair global advisory board
Binance has tapped Max Baucus, a former U.S. senator and ambassador to China, to chair its new global advisory board, to advise the world’s largest cryptocurrency exchange on regulatory, political and social issues. See related article: Binance stablecoin conversion controversial, but what does it mean for users? Fast facts Binance said on Thursday in a […]
U.S. Fed has growing interest in CBDCs, says Jeng at Crypto Council for Innovation
Linda Jeng, chief regulatory officer and general counsel at the Crypto Council for Innovation said the U.S. has seen the writing on the wall and is expanding the conversation about cryptocurrency, in comments at Forkast’s “Crypto Rising: CBDCs & Stablecoins: The Asia Perspective.”
Markets: XRP bounces back, Bitcoin stuck under US$19,000, Ether loses more ground post-Merge
Bitcoin traded below US$19,000 Thursday afternoon in Asia after dropping below that resistance level earlier, following the U.S. Federal Reserve’s decision to raise interest rates by 75 basis points. Ether also fell. XRP was the biggest gainer among the 10 largest coins by market capitalization, while most other top 10 tokens were little changed. See […]
Philippine central bank sees stablecoins as key to make payments more efficient
Bangko Sentral ng Pilipinas (BSP) Director Mhel Plabasan said the central bank has adopted a flexible approach on the digital assets.
‘Act smart, but act fast’: Industry experts say there’s no time to waste addressing stablecoins, CBDCs in Asia
Panelists at Forkast’s “Crypto Rising: CBDCs & Stablecoins: The Asia Perspective,” co-hosted by the Crypto Council for Innovation (CCI), said tackling the technology requires international cooperation and flexibility to not stifle innovation.
Binance stablecoin conversion controversial, but what does it mean for users?
Binance generated controversy when it told customers it would convert their holdings in three stablecoins to its own stablecoin. Some analysts say the concerns are overblown, others disagree.
South Korea seizes US$184 mln in crypto towards unpaid taxes
Cryptocurrency assets seized from alleged tax delinquents in South Korea in 2021 and 2022 amounted to nearly 260 billion Korean won (US$184.3 million), according to local media reports. See related article: South Korea’s taxman keeps circling crypto – airdrops look to be the next target Fast facts The highest amount of crypto seized from a […]
Bitmain cuts mining rig prices amid crypto bear market, energy costs
Bitmain announced on Tuesday that it is cutting the price of one of its latest mining rig models, the S19 Pro, to US$19 per terahash (TH), which is 41% less than the price index shown on the mining rig data website Hashrate Index. See related article: US raises red flag on crypto mining, concern over […]
FTX in talks to raise US$1B in fundraising round: CNBC report
Sam Bankman-Fried‘s FTX is in talks with potential investors about a funding round that would keep the company’s valuation in line with prior financing at the start of the year, CNBC reported Wednesday. See related article: Binance and FTX lead bidding for bankrupt Voyager Fast facts FTX Trading Ltd.’s latest funding round in January raised […]
Bitcoin recovers from steep drop after Fed hikes rates by 75 basis points
Bitcoin, the largest cryptocurrency by market capitalization, rose more than 3% on Thursday to recover from a sharp drop to under US$19,000 after the Federal Open Market Committee said it would raise interest rates by 75 basis points, or in line with market expectations, to rein in inflation. See related article: Digital dollar takes another […]
Terra chief faces arrest as South Korea ramps up global manhunt
Top blockchain and crypto news: Where is Do Kwon hiding out? Ethereum Merge mood fading fast. China’s digital yuan draws scrutiny Down Under.
Markets: XRP only gainer among top 10 cryptos as US rates decision looms
Bitcoin remained below the US$19,000 level in Wednesday evening trading in Asia as the top 10 cryptocurrencies by market capitalization, with the exception of XRP, traded lower. See related article: Ripple objects to SEC’s relief suggestion in XRP lawsuit Fast facts Bitcoin fell 2.2% in the past 24 hours to trade at US$18,906 at 4:30 […]
India’s finance minister sees 46% growth in blockchain technology use in next few years
While India’s central bank has adopted a hostile stance towards cryptocurrency, the South Asian nation has recognized the potential for blockchain technology. See related article: Women in India start to plug into cryptocurrency trading Fast facts Use of blockchain technology is going to rise by about 46% in the next few years, India’s finance minister […]
Ripple objects to SEC’s relief suggestion in XRP lawsuit
Ripple Labs Inc. has objected to the U.S. Securities and Exchange Commission’s suggestion that it may seek additional time and pages if other amici curiae (Latin for friends of the court) submit briefs, as the lawsuit the SEC filed in 2020 against Ripple drags on. See related article: SEC, Ripple seek summary judgment in attempt […]
JPMorgan Chase executive says crypto usage for payments decreasing
Speaking in an interview with Bloomberg Television on Tuesday, JPMorgan Chase & Co.’s global head of payments Takis Georgakopoulos said that demand for cryptocurrencies as a payment method has seen a drastic decline in the past six months. See related article: JPMorgan, LRC bet on blockchain startup Ownera in US$20 mln Series A Fast facts […]
Binance and FTX lead bidding for bankrupt Voyager
Crypto exchanges FTX and Binance have reportedly made the highest bids on bankrupt crypto lender Voyager Digital Ltd. and its assets, but neither offer had been accepted as of Tuesday, according to a Wall Street Journal report. See related article: Sam Bankman-Fried lashes out at Voyager for rejecting FTX’s proposal Fast facts The WSJ article […]
Markets: Bitcoin price falls below US$19,000, XRP gains on SEC lawsuit developments, Ether post-Merge slide continues
Bitcoin fell below the US$19,000 resistance level for the second time in a week in early Wednesday trading in Asia. Ether and most other tokens in the cryptocurrency top 10 by market capitalization lost ground. XRP was the exception, gaining on news the token’s issuer, Ripple Labs Inc, and the U.S. Securities and Exchange Commission […]
Binance’s crypto keys; What’s after the Merge?
Binance takes the headlines today as they lead the funding of blockchain security specialists Salus Security.
Markets: Dogecoin reenters top 10 tokens by market cap, Bitcoin and Ethereum up
Crypto markets continued their recovery streak in Tuesday evening trade in Asia with Bitcoin rising over 4% in the past 24 hours to be the second-highest gainer among the top 10 tokens by market capitalization, only behind XRP. Despite a 4.3% recovery, Ethereum was still down over 20% over the past seven days in the […]
South Korea unlikely to push out crypto regulation before the U.S., authority says
South Korea’s top financial watchdog Monday said it is difficult for the country to establish laws overseeing the cryptocurrency industry in the country ahead of a common global regulatory framework as cross-border enforcement would be a key determinant of effectiveness.
US Treasury seeks public opinion on digital asset risks
The U.S. Department of Treasury is seeking public opinion on the “responsible development of digital assets” and has requested comments from the general public on national security and illicit financing risks posed by digital assets. See related article: Singapore’s central bank says cryptocurrencies have ‘no fundamental value’ Fast facts Comments can be submitted until Nov. […]
Binance leads funding round in blockchain specialist Salus Security
Binance Labs, the incubator and investment arm of the world’s largest cryptocurrency exchange, said it invested an undisclosed amount in Salus Security, which provides blockchain smart contract audits and automated smart contract vulnerability detection. See related article: Binance’s US$7.5 billion woman sees plenty of promise in bear markets Fast facts Binance Labs said in a […]
Australia Senator says China’s CBDC may threaten national security
Amid the worsening relationship with China, one Australian Senator is trying to address possible national security concerns that may arise from Beijing’s Central Bank Digital Currency project.
Crypto research firm founder accused of promoting ICO for compensation
Self-described crypto influencer charged with violating SEC regulations by trading and promoting an initial coin offering under undisclosed financial terms.
India’s WazirX to delist USDC, apply auto convert to Binance’s stablecoin
WazirX, India’s largest cryptocurrency exchange by trade volume, said it has stopped deposits of stablecoins USDC, USDP and TUSD, and will automatically convert users’ existing balances to Binance’s USD-backed stablecoin BUSD at a 1:1 ratio. See related article: India’s WazirX introduces new ‘learn and earn’ campaign with The Sandbox Fast facts WazirX will begin the […]
If the UK wants to become a crypto hub, it must do better
Britain’s internal divisions could thwart its crypt ambitions, writes Nick Saponaro of Divi Labs. Will it be eclipsed by crypto-friendly Dubai?
Markets: Cardano, Solana, Dogecoin and Polkadot bear brunt of market slump
The global crypto market cap for cryptocurrency dropped over 7% in Monday evening trade in Asia, nearing US$900 billion. Bitcoin fell to a 24-hour low of US$18,390.32 at 5 pm Hong Kong time, while Cardano led losses within the crypto top 10 by market capitalization, followed by Ethereum. See related article: Markets: Bitcoin back below […]
SEC, Ripple seek summary judgment in attempt to speed up XRP lawsuit
The argument centers around if Ripple’s XRP sales were offerings of unregistered securities.
Why DeFi interest rate swaps may be the next frontier of finance
Already a big part of global finance, interest rate swaps can be a boon for DeFi — if it can overcome these challenges, writes Simon Jones of Voltz Labs.
Ethereum’s PoW forks competing for market share see significant selloff
These PoW forks were created to keep revenue flowing for Ethereum’s miners, but plummeting prices put that plan at risk.
India’s WazirX introduces new ‘learn and earn’ campaign with The Sandbox
WazirX, India’s largest cryptocurrency exchange by trade volume, has introduced a “learn and earn” campaign with The Sandbox, one of the biggest Ethereum-based metaverse game platforms. See related article: WazirX launches India’s first NFT marketplace Fast facts The campaign started Sept. 19, and the top five winners will get free passes for The Sandbox’s recently […]
Binance’s US$7.5 billion woman sees plenty of promise in bear markets
Yi He, who manages the multibillion-dollar portfolio at Binance Labs, is looking to invest in Web 3.0 projects from infrastructure, application and data to analytics and security.
Will Ethereum ever surpass Bitcoin? This is “The Flippening”
Many believe Ethereum is destined to overtake Bitcoin’s dominance in an event known as “The Flippening.” Find out if Ethereum’s reign is inevitable in this Forkast explainer.
Digital dollar takes another step in White House’s “first ever” digital assets framework
The Fed will continue its CBDC research as Republicans pressure the central bank to clarify its stance on digital dollar issuance.
Busan’s big blockchain plans
Welcome to The Daily Forkast – September 16, 2022 – presented by Joel Flynn. Coming up on today’s show: Could Busan be the next crypto hub? Will help from Binance and FTX finally establish South Korea’s second largest city as the crypto haven it’s trying to be? We’ll have more on those stories — and […]
For South Korea, making Do Kwon pay for his alleged crimes easier said than done
A member of the prosecuting team tells Forkast additional charges are likely to be leveled against Terraform Labs Chief Executive Officer Do Kwon following this week’s issuance of an arrest warrant for violating the country’s Capital Markets Act.
Binance makes additional investment in Mo Shaikh’s blockchain startup Aptos
Binance Labs, the venture capital arm of world’s largest cryptocurrency exchange, has made a follow-on investment in Aptos Labs, as a part of a broader fundraising round by the blockchain startup. See related article: Aptos raises US$150 mln from FTX Ventures, Jump Crypto Fast facts Aptos will use the funds to expand its team and […]
Markets: Bitcoin price holds under US$20,000; Ether falls nearly 10%
Bitcoin continued trading below the US$20,000 support line in Friday afternoon trading in Asia. Ether fell in a “sell the news” mood after the Ethereum network completed the network Merge on Thursday. Most other coins among the top 10 by market capitalization dropped. See related article: Markets: Bitcoin dips below US$20,000; Ether, ETC fall post-Merge […]
Terra CEO Do Kwon faces ‘illegal alien’ status in Singapore as Seoul cancels passport
Prosecutors investigating the man behind the US$37 billion wipeout of the Terra-LUNA cryptocurrency project are raising the stakes to get him back to South Korea.
SEC’s Gensler says proof-of-stake cryptocurrencies may be securities
When is a cryptocurrency a security and when is it not? Financial regulators around the world are raising that question. The answer that comes out of the U.S. may set the tone, but South Korea is also ahead in tackling it.
As “The Merge” succeeds, rival ETHPoW fork falters
ETHPoW, the Ethereum hard fork blockchain intended to preserve proof-of-work after the native chain transitioned to proof-of-stake, is facing technical difficulties despite months of anticipation. See related article: Ethereum says Merge upgrade successfully completed, more to come Fast facts Prior to the fork, it was announced that ETHW tokens would be airdropped to Ethereum holders. […]
S.Korea finance regulator: crypto can be subject to capital markets law
South Korea’s Financial Supervisory Service (FSS) governor Lee Bok-hyun says he disagrees with the view that crypto cannot be seen as financial investment products or securities, while revealing he assisted local prosecutors in designating Terra-LUNA tokens as securities, according to local media reports. See related article: Securities or not? South Korea to evaluate Terra’s LUNA […]
Markets: Bitcoin dips below US$20,000; Ether, ETC fall post-Merge
Bitcoin fell below the US$20,000 support line in Friday morning trading in Asia, while Ether saw a sell-off following the long-awaited network “Merge” on Thursday. The total cryptocurrency market capitalization fell below US$1 trillion as all top 10 tokens were trading down. See related article: Ethereum says Merge upgrade successfully completed, more to come Fast […]
Singapore grants capital markets license to SBI’s digital asset arm
SBI Digital Markets Pte. Ltd. (SBI DM) has received a Capital Markets Services (CMS) license from Singapore’s central bank, which allows it to provide custodial services and offer capital markets products. See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts SBI DM plans to launch a digital asset […]
Thailand bans crypto lending and staking services
The Thailand Securities and Exchange Commission (SEC) has prohibited cryptocurrency companies from offering digital assets lending and staking products, or depository services. See related article: Thailand’s SCBX scraps plan to buy 51% stake in crypto exchange Bitkub Fast facts The regulator said in a press release on Thursday that the decision was made to protect […]
Merge finally arrives; India’s female traders
Welcome to The Daily Forkast – September 15, 2022 – presented by Megha Chaddah. Coming up on today’s show: Ethereum’s Merge is complete. Indian women start to plug into cryptocurrency trading. And finally, can the crypto world shrug off carbon footprint concerns? We’ll have more on those stories — and other news shaping the cryptocurrency […]
CEL price rallies to US$4.26 during Ethereum’s Merge
The bankrupt crypto lender Celsius Network’s native CEL token suddenly spiked to US$4.26, during Ethereum’s much-anticipated Merge, according to data from CoinGecko. See related article: Celsius CEO Alex Mashinsky floats restructuring as custody business amid bankruptcy proceedings Fast facts CEL’s price has since dropped to US$1.94, making it the 61st largest cryptocurrency by market capitalization, […]
Asia dominates Chainalysis’ 2022 crypto adoption index, China returns to top 10
APAC is leading in crypto use and adoption, according to a new report from U.S. blockchain analysis firm Chainalysis released on Wednesday, with China returning to the report’s top 10 countries for crypto adoption after it fell out of the list last year. APAC accounted for six of the top 10 countries in the index. […]
Markets: Prices rise as Ethereum Merge boosts ETH, linked tokens
Cryptocurrency markets trended higher in Thursday afternoon trading in Asia, with global market capitalization up 0.4% in 24 hours, trading at US$995.9 billion, still under the US$1 trillion benchmark it dropped below last night. All cryptocurrencies in the top 10 by market cap, with the exception of Bitcoin, strengthened. See related article: Markets: Bitcoin little […]
Ethereum says Merge upgrade successfully completed, more to come
The Merge is a milestone in slashing electricity use on the Ethereum blockchain, but there are plenty more upgrades in the pipeline.
Fed vs The Merge; Crypto regulation conversations
Welcome to The Daily Forkast – September 14, 2022 – presented by Megha Chaddah. Coming up on today’s show: Will the Merge solve the market’s woes? Regulators paying heed to crypto. We’ll have more on those stories — and other news shaping the cryptocurrency and blockchain world — in this episode of The Daily Forkast […]
Binance launches Ethereum staking ahead of Merge upgrade
Top blockchain and crypto news: Binance bets on Ethereum Merge. What does Terra’s sudden resurgence mean? China seeks to expand e-CNY ecosystem.
Markets: Bitcoin, Ether slide, crypto market cap drops under US$1 trillion
Cryptocurrency markets continued their skid in Wednesday afternoon trading in Asia, with the global market capitalization dipping to around US$997 billion, down 6% in the last 24 hours. All cryptocurrencies in the top 10 by market cap fell. Solana led the losers, with Bitcoin coming in second. Stock markets slumped. See related article: Markets: Bitcoin, […]
China’s two systems for crypto: Trading is banned, but virtual assets can be protected
In a decision involving Litecoin, a Chinese court says there are no rules ‘that negate the protectability of cryptocurrency itself as virtual property.’
South Korea issues arrest warrant for Terraform Labs CEO Do Kwon
South Korean prosecutors investigating the collapse of Terra-LUNA have issued an arrest warrant for Terraform Labs cofounder and chief executive officer Kwon Do-hyung, also known as Do Kwon, the Seoul Southern District Prosecutors’ Office told Forkast. See related article: Securities or not? South Korea to evaluate Terra’s LUNA token Fast facts “Violation of the capital […]
Bitcoin mining difficulty reaches all-time high, up 3.5% in latest adjustment
Bitcoin mining difficulty rose by 3.45% on Wednesday, reaching an all-time high, according to data from BTC.com. See related article: Argentinian tax agency conducts first-ever raids on illegal crypto mining farms Fast facts The mining difficulty reading was at 32.05 trillion, as of block height 753,984, the data showed. The difficulty level, which changes about […]