S.Korea discusses control over crypto listings after WEMIX delisting
S.Korean authorities may mandate companies to pursue direct approval from regulators to list their crypto on local digital assets exchanges.
The Block CEO resigns after reports of undisclosed loans from Alameda Research
Michael McCaffrey, the CEO of crypto news outlet The Block, resigned after reports revealed that he received undisclosed multi-million dollar loans from Alameda Research.
Terra cryptocurrency fugitive Do Kwon flew to Serbia last month, South Korean prosecutor says
Interpol fugitive Kwon Do-hyung flew to the Republic of Serbia last month, South Korean prosecutors told Forkast, confirming local media reports.
Markets: Bitcoin, Ether down as markets brace for November inflation data
Bitcoin and Ether fell slightly in Monday morning trading in Asia, along with all other non-stablecoin cryptocurrencies in the top 10, excluding Litecoin.
Crypto Mining Woes
Crypto miners worldwide are turning off their computers as the cost of mining rises and the value of bitcoin falls.
Sam Bankman-Fried misses deadline to respond to Senate Committee hearing
Sam Bankman-Fried, the founder of the now-bankrupt FTX exchange, has missed the deadline set by the U.S. Senate Committee to confirm his appearance at an upcoming hearing.
Markets: Bitcoin rises, Ether is biggest gainer in top 10 cryptos
Bitcoin and Ether gained in Asian trading on Friday afternoon, with Ether leading the rally across all the top 10 non-stablecoin cryptocurrencies
SEC advises public firms to disclose crypto risks
The U.S. Securities and Exchange Commission (SEC) has advised publicly-listed firms to disclose their exposure to the cryptocurrency market, in light of the fallout of the FTX collapse.
Bankman-Fried’s parents cancel classes at Stanford Law School for next year
The Stanford Law School professor parents of Sam Bankman-Fried, the founder of the collapsed cryptocurrency exchange FTX.com who has been accused of misusing customer funds, are not on next year’s class schedule at the school.
Wemade to buyback US$10 mln in WEMIX after delisting verdict
Wemade, a S.Korean blockchain game maker, announced that it will buyback and burn US$10 million worth of its WEMIX token to stabilize its value.
U.S. considering bill to require crypto miners to report carbon emissions
U.S. cryptocurrency miners would be required to report greenhouse gas emissions under a new bill submitted to the Senate, reflecting criticism the industry is adding to use of fossil fuels blamed for global warming.
Markets: Bitcoin, Ether prices rise as gains in U.S. equities help cryptocurrencies bounce back
Bitcoin rose back above the US$17,000 mark in Friday morning trading in Asia, helped by gains in U.S. equities overnight.
Sam Bankman-Fried probed over Terra-LUNA crash: report
Federal prosecutors are reportedly investigating Sam Bankman-Fried for possible market manipulation that led to the Terra-LUNA crash in May
Hong Kong’s virtual asset licensing regime to take effect next June
Hong Kong passed the amendment to the bill that includes a licensing regime VASP on Wednesday, which will come into effect on June 1, 2023.
Mark Karpeles on SBF
Former Mt. Gox CEO Mark Karpeles knows what a crypto bankruptcy looks like, and has some advice for SBF.
Trader loses 70 ETH over bug in NFT marketplace Blur
A bug in the new bidding system of non-fungible token (NFT) marketplace Blur caused a user to lose 70 ETH by accidentally overbidding on an Art Gobbler NFT.
Markets: Bitcoin, Ether inch up; Shiba Inu leads rise across top 10 cryptos
Bitcoin and Ether inched up in Asian trading on Thursday afternoon, with Shiba Inu leading gains across most top 10 non-stablecoin cryptocurrencies. See related article: Markets: Bitcoin, Ether drop as SEC’s Gensler says crypto firms running out of time to comply with securities laws Fast facts See related article: FTX failure a ‘wake-up call’ for […]
Some 97% of Binance’s liabilities collateralized by Bitcoin, wrapped Bitcoin: Mazars
Some 97% of Binance’s scrutinized crypto liabilities are collateralized by Bitcoin and Wrapped Bitcoin, according to a report by auditing firm Mazars about Binance’s proof of reserves
South Korea’s Wemade shares drop, WEMIX token plunges after delisting verdict
The South Korean blockchain game maker’s WEMIX cryptocurrency will be removed from the country’s four major cryptocurrency exchanges that collectively account for more than 95% of the country’s crypto trading volume.
Bankman-Fried may face subpoenas if he does not testify
The embattled founder of failed cryptocurrency exchange FTX may be subpoenaed if he declines to testify at the two hearings on the platform’s meltdown in Washington DC next week.
FTX failure a ‘wake-up call’ for security, says former Mt Gox CEO Mark Karpeles
Before the FTX implosion there was Mt. Gox, an exchange that oversaw 80% of all Bitcoin trades before it collapsed in 2014. In this exclusive interview with Forkast, former Mt. Gox Chief Executive Officer Mark Karpeles says what he sees in store for the industry in 2023 in the wake of the FTX bankruptcy.
Demanding data privacy is a feminist fight: Opinion
Personal information privacy matters more than ever in a post-Roe world, writes Kayla Kroot of Koii Network. Can data from menstrual cycle tracking apps be used to prosecute women and girls for abortions?
Markets: Bitcoin, Ether drop as SEC’s Gensler says crypto firms running out of time to comply with securities laws
Bitcoin fell below US$17,000 in Thursday morning trading in Asia. The other top 10 non-stablecoin cryptocurrencies also retreated.
Tether launches offshore yuan-pegged stablecoin on Tron
Tether, the world’s largest stablecoin provider, will include the CNHT stablecoin on Justin Sun’s Tron network.
Salary in stablecoins?
Can crypto and stablecoins be used to pay employees across borders as remote working becomes more popular?
S.Korea court dismisses Wemade’s injunction, local exchanges to delist WEMIX
A Seoul court has dismissed the injunction filed by Wemade Co. Ltd. to stop four local digital asset exchanges from delisting WEMIX cryptocurrency
AAX’s future in doubt amid staff exodus and FTX contagion
Top blockchain and crypto news: AAX teeters on the brink. SBF hints at Congressional hearing no-show. Chinese court boosts NFT legitimacy.
Judge approves subpoenas for 3AC cofounders
A federal judge overseeing the bankruptcy proceedings of Three Arrows Capital (3AC) has approved the delivery of subpoenas to 3AC’s cofounders, Su Zhu and Kyle Davies.
Markets: Bitcoin, Ether weaken; Dogecoin leads slump across top 10 cryptos
Bitcoin and Ether fell in Asian trading on Wednesday afternoon, with Dogecoin leading declines across top 10 non-stablecoin cryptocurrencies
Sam Bankman-Fried hires attorney Mark Cohen amid probes of failed FTX exchange
Sam Bankman-Fried, founder and former chief executive officer of the bankrupt cryptocurrency exchange FTX, has hired white-collar crime specialist Mark Cohen to represent him, said a Bankman-Fried spokesman.
Markets: Bitcoin, Ether rise in slow trading, Solana gains on Web3 game partnership
Bitcoin edged up above US$17,000 in Wednesday morning trading, a level it has fluctuated around for much of the past week.
Crypto’s Next Steps?
2022 saw the collapse of FTX, Terra-Luna and 3AC, and hacks were at an all time high. How can going back to blockchain’s roots help restore faith in crypto?
Unfazed by FTX fiasco, Goldman Sachs eyes investments in crypto market
Goldman Sachs plans to spend millions of dollars to buy or invest in undervalued crypto companies in the post-FTX implosion market depression, as it sees long-term market opportunity, according to Reuters
Hong Kong’s race to launch first crypto-linked ETF begins
Three Hong Kong-based asset management firms have applied for exchange-traded funds (ETFs) tracking Bitcoin and Ethereum futures for retail investors.
Crypto lender Nexo to quit U.S. market over ‘regulatory unclarity’
Cryptocurrency lender Nexo will pull out of the U.S. market “due to a lack of regulatory clarity.”
Markets: Bitcoin, Ether fall; Polkadot is biggest loser in top 10 cryptos
Bitcoin and Ether declined in Asian trading on Tuesday afternoon. All other top 10 non-stablecoin cryptocurrencies retreated, with the largest decline seen in Polkadot
Bankrupt crypto lender Celsius gets court approval for extension to file restructuring plan
Cryptocurrency lender Celsius Network has received approval from the bankruptcy court of the Southern District of New York to extend the deadline to submit a restructuring plan
Bitcoin mining difficulty drops more than 7% as cash crunch hits miners
Miners face a liquidity crunch as cryptocurrency prices slide, with the world’s largest publicly-listed miner, Core Scientific, saying it may run down its cash reserves by the end of this year.
S.Korea central bank puts hand up to regulate stablecoins
The Bank of Korea (BOK) claimed it needs the authority to monitor and supervise stablecoins, according to the South Korean central bank’s report published on Monday.
Majority of ‘wealthy’ South Koreans say no plan to invest in crypto, cite lack of trust
The majority (58.3%) of South Koreans with assets of 1 billion Korean won (US$760,000) said they don’t plan to invest in cryptocurrencies.
Bankman-Fried claims new FTX CEO’s testimony is ‘false’
Sam Bankman-Fried, the founder of the bankrupt cryptocurrency exchange FTX.com, alleged in an interview released on Monday that John J. Ray III, the new chief executive of the firm, has made statements that Bankman-Fried knows to be “false.”
DeFi regulation: it’s not a matter of if, but when
The push to regulate DeFi is stronger than ever, and the sector would be wise not to fight but participate in that inevitability, writes Michael Shing of XREX.
Markets: Bitcoin, crypto top 10 retreat with equities on signs of inflation uptick in U.S.
Bitcoin dipped below US$17,000 in Tuesday morning trading in Asia, as Ether and most other top 10 non-stablecoin cryptocurrencies lost ground.
Innovation vs Regulation
Innovation and regulation are mutually exclusive in the world of crypto – and in the aftermath of the FTX collapse, getting the balance right is key.
NFTs ruled virtual property in China, its sales protected by law
The Hangzhou Internet Court has ruled that non-fungible tokens (NFT) are virtual properties protected by law, according to the court’s summary of a recent case posted on its official Wechat account on Nov. 29. See related article: China’s diktat against NFT trading spawns an ingenious industry Fast facts See related article: Tencent’s Huanhe allows NFT […]
Markets: Bitcoin, Ether rally; Litecoin sees most gains across top 10 cryptos
Bitcoin and Ether rose in Asian trading on Monday afternoon. Most other top 10 non-stablecoin cryptocurrencies strengthened, led by gains in Litecoin
Will the next wave of FTX victims be unwitting tax cheats?
When a crypto exchange fails, will your transaction records vanish, too? Here’s why investors should take responsibility over their own trading data.
S.Korean prosecutors mull second request of arrest warrant for Terra cofounder Daniel Shin
Seoul judge dismisses prosecutors’ request for arrest warrant for Terra’s Daniel Shin, derails their plan to investigate Shin in custody
Australian crypto exchange Swyftx cuts 40% of jobs amid fallout from FTX collapse
Australian cryptocurrency exchange Swyftx cut 90 staff members — or 40% of its workforce — to prepare for a “worst-case scenario” in the market from the collapse of FTX.com.
Coinbase CEO Armstrong says Bankman-Fried’s US$8 bln ‘accounting error’ doesn’t stand up
Coinbase Global Inc. Chief Executive Brian Armstrong said Sam Bankman-Fried’s explanation of sloppy accounting as the reason US$8 billion moved from his crypto exchange FTX to brokerage arm Alameda Research doesn’t stand up to scrutiny.
Sam Bankman-Fried ‘not sure’ if he will testify before Congress on Dec. 13
Sam Bankman-Fried, founder and former chief executive officer of failed cryptocurrency exchange FTX, tweeted on Monday morning Hong Kong time that he may not testify before the U.S. Congress on Dec. 13.
Wemade in talks with Binance for custody of WEMIX cryptocurrency
Wemade Co. Ltd. said its in talks to have Binance Institutional Services take custody of its native cryptocurrency, WEMIX.
Crypto exchange Bybit to cut 30% of staff to ‘navigate market slowdown’
Cryptocurrency exchange Bybit plans to cut 30% of its staff as part of a company reorganization, cofounder and chief executive officer Ben Zhou said in a statement shared with Forkast on Sunday.
Markets: Bitcoin back above US$17,000, Ether gains along with other top 10 crypto
Bitcoin traded above US$17,000 Monday morning in Asia, with all the top 10 non-stablecoin cryptocurrencies by market cap gaining ground.
Cold comfort: Is Crypto Winter the right time to invest in Web3?
Amid the current crypto market carnage, Web3’s appeal for investors remains solid — and perhaps even stronger — says CVP NoLimit Holdings founder Gin Chao.
Hong Kong crypto exchange AAX has lost most staff, unlikely to reopen, says former executive
The exchange has gone silent since pausing withdrawals and liquidating all futures positions, with users fearing a repeat of the FTX collapse.
DeFi protocol Ankr to buy US$5 mln of BNB to cover funds lost in exploit
Decentralized finance (DeFi) protocol Ankr will buy US$5 million worth of BNB – the token of cryptocurrency exchange Binance – to compensate liquidity providers affected by Friday’s exploit
Digital ID Ready?
As the Philippine government ties to roll out a hugely ambitious ID system, we take a look at how blockchain could make data more secure.
Markets: Bitcoin, Ether slip; Dogecoin leads decline across most top 10 cryptos
Bitcoin and Ether fell in Asian trading on Thursday afternoon, with other top 10 non-stablecoin cryptocurrencies also mostly down
NFT sales rise for first time in 7 months in November despite crypto price slump
NFT investors seemingly see opportunities in a month full of surprises and headwinds for the broader cryptocurrency market.
MetaComp becomes the latest crypto exchange to receive Singapore license
Singapore-based crypto exchange MetaComp has been granted Singapore’s license, enabling it to offer digital asset exchange and custody services to institutional investors.
S.Korea court to settle MIR4 maker Wemade, WEMIX legal battle
Following a hearing on Friday, the court is expected to finalize its decision on an injunction Wemade filed against four exchanges.
Coinbase disables NFT transfer on iOS app, citing hefty in-app fees
Cryptocurrency exchange Coinbase has disabled its non-fungible token transfer feature for iOS users, citing a dispute over Apple’s in-app purchase policy.
Terra cofounder Daniel Shin makes court appearance for arrest warrant review
Terra cofounder Daniel Shin attended a court hearing on Friday morning in South Korea that will decide on local prosecutors’ request to issue an arrest warrant.
Sam Bankman-Fried says not aware of any improper use of funds in FTX downfall
Sam Bankman-Fried, founder of failed cryptocurrency exchange FTX, said he did not know of any improper use of customer funds at his company, in an interview with ABC News.
S. Korea energy conglomerate builds US$84 mln metaverse fund
Daesung’s venture capital subsidiary recently established a fund worth 110 billion Korean won (US$84.5 million) for expanding investments into metaverse startups.
Markets: Bitcoin dips back below US$17,000, Ether falls, Dogecoin leads losers list
Bitcoin fell back below US$17,000 in Friday morning trading in Asia. Ether and all other non-stablecoin top 10 cryptocurrencies by market capitalization also lost ground.
Blockchain Security Issues
The blockchain sphere has been hit with a ton of security issues over 2022. What can we do about it to make things better?
VPN in China may be at risk as users report connection issues on Twitter
VPN services, a reliable tool for Chinese internet users to bypass the Great Firewall, are reporting connectivity issues in the mainland after anti-lockdown protest content flooded Twitter.
Markets: Bitcoin, Ether rise with Polygon topping gains in most top 10 cryptos
Bitcoin and Ether increased in Asian trading Thursday afternoon, with all other top 10 non-stablecoin cryptocurrencies mixed
Sam Bankman-Fried points blame for FTX collapse to Alameda, says he was blindsided
Bankman-Fried beamed into New York from the Bahamas to give his version of what happened at FTX, mentioning his own failure of oversight and being “frankly surprised” by what was going on at his company’s sister brokerage.
FTX collapse will blunt activities of North Korea hackers, analyst says
The collapse of FTX.com and its far-reaching impacts will hinder North Korea’s ability to profit from cryptocurrency hacks, says one analyst.