Binance makes Russia denial; CoinDCX talk future plans
Binance categorically denies sharing client data with Russia. Meanwhile, Chinese officials push for e-CNY use at the Asian Games.
Indian banks ask for clarity on use of UPI for crypto assets
India’s leading banks have asked the National Payments Corporation of India (NPCI) to issue a formal directive that explains the curbs on money transfers using the Unified Payments Interface (UPI) for trading in virtual digital assets. See related article: Coinbase snafu sets the cat among the crypto pigeons in India Fast facts Indian banks had […]
CoinDCX double downs as the going gets tough in India
CoinDCX cofounder Sumit Gupta tells Forkast in an exclusive interview the crypto exchange that recently raised US$135 million will look to triple its headcount by the end of the year.
Grayscale fancies SEC green light for Bitcoin spot ETF
The cryptocurrency investment firm has stepped up its lobbying efforts with the U.S. regulator following its recent nod to a Bitcoin futures ETF. See related story: SEC comes around on Bitcoin ETFs Fast facts Grayscale’s lawyers have written to the Securities and Exchange Commission saying that its application for a Bitcoin spot exchange-traded fund (ETF) […]
No love for Putin. Binance denies sharing data with Russia
Binance, the world’s largest cryptocurrency exchange by trading volume, denied sharing client data with Russian authorities, following a Reuters investigation into the exchange’s ties with the country.
Axie Infinity hack proceeds continue to be laundered despite US sanctions
The Lazarus Group, the North Korean hacking group linked to the US$600 million Axie Infinity hack in March, is still laundering funds stolen from the hack despite sanctions imposed by the U.S. See related article: Axie Infinity blockchain Ronin hacked for over $600M Fast facts Despite U.S. sanctions, North Korean hackers have been freely laundering […]
A marathon not a sprint: How the US can win the digital asset race
Joe Biden’s executive order on crypto has put America on course for solid success in the digital asset space, says the Blockchain Association’s Kristin Smith.
Crypto industry looks to the UAE; Crypto’s environmental concerns
More crypto players are eyeing the UAE as a hub. Meanwhile, a mysterious map sends Pudgy Penguin NFTs skyrocketing.
A fast one from down under: Australia approves BTC, ETH ETFs
While the cryptocurrency industry continues to wait with bated breath for a spot-traded Bitcoin exchange-traded fund (ETF) to be approved in the U.S., three separate crypto funds were given the green light in Australia this week. Australia’s ETFS Management (AUS) Ltd., or ETF Securities, launched a Bitcoin and an Ethereum fund, in partnership with Switzerland-based […]
Dubai could be crypto’s promised land, Citi says
Dubai and neighboring Abu Dhabi have been on a tear when it comes to crypto service providers moving the core of their operations there.
Be kind, rewind! South Korea’s Cyworld is back in Web 3.0 avatar
Time to dust off your Dotori. The social media platform that once reigned in South Korea is trying to make a grand comeback with in-game crypto, NFTs and the metaverse.
Binance hires former British regulator for compliance role
The world’s biggest cryptocurrency exchange hired former Financial Conduct Authority official Steven McWhirter as a director of regulatory policy to better manage its compliance function. See related story: Binance wants to play ball with regulators Fast facts McWhirter will lead the global regulatory policy team for Binance and brings over 20 years of experience in […]
Why blockchain is the cornerstone of investing in our planet
Can blockchain embody the values of Earth Day? Consider its growing role in ESG and the energy-efficiency of newer crypto, writes Eddie Hui of MVGX.
US sanctions Bitriver; Apecoin steals Doge’s thunder
A Russian crypto miner has been added to the US Sanctions list. Meanwhile, Dogecoin underperforms as Apecoin storms ahead.
Experts cut Bitcoin’s 2022 price outlook to slightly less bullish: report
A panel of 35 crypto professionals have grown collectively less confident on the year-end target price for Bitcoin, although they expect the dominant cryptocurrency to end significantly higher than current levels and even set a new all-time high, according to a report by Finder. See related article: Bitcoin crosses $47,000 mark as crypto surges in […]
Caught between a rock and a hard place, Singapore tightens crypto oversight
A desire to stay in line with global anti-money laundering and anti-terrorism norms is forcing the city state’s hand when it comes to regulating cryptocurrency exchanges.
Russian crypto miner Bitriver added to US sanctions list
The U.S. sanctioned Russian cryptocurrency miner Bitriver and its 10 subsidiaries on Wednesday, in an attempt to further isolate Russia from the global economy for invading Ukraine. See related article: Russia proposes Bitcoin payments for oil and energy exports Fast facts “Russia has a comparative advantage in crypto mining due to energy resources and a […]
Australia to list crypto spot ETFs; WazirX founders leave India
Bitcoin and Ethereum ETFs are coming to Australia. Meanwhile, Dogecoin Day has fans hyped.
World Bank rescue package throws lifeline to crypto markets
Top blockchain and crypto news: Crisis response brings crypto relief. North Korea’s Lazarus Group named in Ronin hack. NFTs face new risks in China.
Will the dog have its day on Doge Day?
Holders of the world’s leading memecoin are hoping for a repeat of 2021 where a community effort helped propel the token’s price into the stratosphere. But one industry watcher says the market is a very different place now.
S.Korea eyes restraints on crypto unicorn Dunamu over monopoly concerns
The Korea Fair Trade Commission (KFTC) is reportedly planning to designate local crypto exchange Upbit owner Dunamu as an enterprise subject to limitations on mutual investment, which would add more regulations to the entity. See related article: Two crypto exchanges reach unicorn status in South Korea Fast facts A company with total assets over 10 […]
Binance.US wins license in Puerto Rico to fuel growth
Binance.US has obtained a money transmitter license in Puerto Rico, as the world’s largest cryptocurrency exchange continues to expand globally while seeking to become more mindful of compliance. See related article: Binance.US valued at $4.5B following first seed round Fast facts Binance.US CEO Brian Shroder on Tuesday said that Puerto Rico is an important market […]
Bitcoin and Ethereum spot ETFs landing in Australia next week
Australia’s mass retail appetite for cryptocurrency is about to be tested as two Bitcoin and one Ethereum spot exchange-traded funds (ETFs) have been approved for listing. See related article: New Australian ETF grants exposure to Bitcoin mining sector Fast facts All three ETFs are set to go live on Cboe (formally Chi-X) Exchange on April […]
US says North Korea behind Ronin hack; Binance closer to Thai business
US authorities says North Korea is responsible for Ronin hack. Meanwhile, Binance and Gulf Energy initiate joint venture.
Axie Infinity’s latest fix to tokenomics has players up in arms
An attempt to assuage Axie Infinity players miffed by falling earnings isn’t turning out too well for developer Sky Mavis, Forkast learns, as loyalists bemoan it may be too little, too late.
India’s crypto shakedown be damned, CoinDCX raises $135 million
Indian cryptocurrency exchange CoinDCX’s latest funding comes as investors double down on the country’s potential to emerge as the world’s top market despite government apathy. See related story: CoinDCX’s Sumit Gupta on CBDCs, regulation and India’s potential for crypto in 2021 Fast facts Series D funding was led by Pantera and Steadview Capital, the company […]
Binance closer to Thai business as Gulf Energy greenlights joint venture
Binance has entered into a joint venture agreement in collaboration with billionaire Sarath Ratanavadi’s Gulf Energy Development to set up a crypto exchange in Thailand. See related article: Binance wins Abu Dhabi nod for another MENA outpost Fast facts Once the joint venture is established, it will apply for a digital asset exchange license with […]
North Korea behind Ronin hack: US
The U.S. Federal Bureau of Investigation (FBI) and the Department of the Treasury allege North Korea’s Lazarus Group and APT38 were responsible for stealing cryptocurrencies worth about US$620 million off the Ethereum sidechain Ronin. See related article: Axie Infinity blockchain Ronin hacked for over $600M Fast facts The hack was perpetrated by the Democratic People’s […]
Is there a future for the NFT beyond digital art?
NFT technology became famous for $69 million digital art, but what will change the world are its myriad practical uses, writes Jan Hartmann of Banxa Labs.
Terra Luna headlines crypto’s Easter resurrection, STEPN peaks
The cryptocurrency market returned strong from the Easter holidays with Terra LUNA leading major coins with an 18.5% rebound to trade at US$91.43, on Tuesday morning Asia time. See related article: Is Terra — whose LUNA coin is now at another all-time high — really where the smart money is? Fast facts Terra reached its […]
Blockchain, metaverse important for India’s growth: MP
Non-fungible tokens (NFTs) are going to be increasingly important with the rise in time spent on metaverses, Jayant Sinha, a member of parliament and Chairman of India’s Standing Committee on Finance, told The Economic Times on Monday. See related article: India to make life hell for crypto investors: MP Fast facts Sinha’s comments come at […]
India’s crypto exchanges switch to P2P, bank transfers
Crypto exchanges in India are switching to facilitating user-to-user bank transfers and inward remittances to work around a withdrawal of support from the developer of the country’s ubiquitous UPI payments system, local media report. See related article: Coinbase snafu sets the cat among the crypto pigeons in India Fast facts Indian cryptocurrency exchanges are trying […]
BSN developer’s NFT warning; LINE launches NFTs
State-backed developer delivers warning on the state of NFTs in China. Meanwhile, LINE launches a NFT marketplace.
Resist the temptation on NFTs, Chinese state-backed developer says
In an exclusive interview with Forkast, the head of government-founded Blockchain-based Service Network (BSN) cautioned against packaging NFTs as investment products despite the temptation to profit off the euphoria.
How the metaverse is closing the gap between virtual and reality
The metaverse promises to radically change how we work, play and do business. How do we avoid its real-world security risks and pitfalls?
Virgil Griffith jailed; Indian exchanges disable UPI
Welcome to The Daily Forkast – April 13, 2022 – Presented by Megha Chaddah. Coming up on today’s show: Former Ethereum developer Virgil Griffith gets 63 months in prison. Coinbase snafu sets cat among the crypto pigeons in India. Huawei becomes latest of China’s tech giants to issue NFTs. We’ll have more on those stories […]
Bitcoin follows blue chips south amid market turmoil
Top blockchain and crypto news: Market contagion hits crypto. Ethereum developer pays price for bad Korea move. China whacks more crypto miners.
Coinbase snafu sets the cat among the crypto pigeons in India
Coinbase’s showcasing of support by government-backed National Payments Corporation of India (NPCI) set the ball rolling on the cryptocurrency exchange being yanked from the ubiquitous Unified Payments Interface (UPI).
Meta starts letting creators ‘monetize’ metaverse under test run
Meta, formerly Facebook, started a trial program enabling a handful of creators to charge for what they are building for Horizon Worlds, the firm’s metaverse platform. See related article: India’s biggest telecom firm latches onto metaverse Fast facts Meta will work with a handful of creators under a test program that will enable them to […]
Former Ethereum developer Virgil Griffith gets 63 months in prison
Former Ethereum developer Virgil Griffith was sentenced to prison and fined US$100,000 for violating international sanctions against North Korea by speaking at a cryptocurrency conference in the Hermit Kingdom in April 2019. See related article: North Korea hacked US$400M of crypto in 2021, says Chainalysis Fast facts At the conference, Griffith explained blockchain technology’s use […]
SFC allows HK’s MaiCapital to manage 100% digital-assets portfolio
The development allows the city to emerge as a top destination for asset managers looking to launch cryptocurrency-themed funds for professional investors. See related article: More traditional investors are eyeing cryptocurrency to diversify their portfolios Fast facts The Securities and Futures Commission (SFC)-licensed blockchain and virtual assets manager can manage portfolios that may comprise up […]
Indian taxes hit trading; Bored Apes movie debut
India’s crypto tax continues to break the crypto industry’s back. Meanwhile, Bored Apes are set to have a movie debut.
Cryptos slump over inflation, Shanghai lockdown and war concerns
Bitcoin and Ethereum were down more than 5% each in Asian trading hours as cryptocurrency markets slumped in lockstep with traditional assets.
India tax breaks crypto’s back
Trading volumes at India’s major cryptocurrency exchanges slumped to their lowest in years after new taxes kicked in on April 1, according to research by Crebaco. See related article: Coinbase’s India launch hits road bump Fast facts U.S. dollar trading volume dropped by 72% on WazirX, 59% on ZebPay, 52% on CoinDCX and 41% on […]
T Scientific to acquire 60% of S.Korean crypto exchange Hanbitco for $19.5 mln
South Korean mobile services company T Scientific announced Monday it will purchase a 60.36% stake in PlutusDS, the operator of local cryptocurrency exchange Hanbitco. See related article: South Korea crypto exchange underdogs: Where are they now? Fast facts T Scientific, a South Korean company specializing in the provision of mobile coupons and mobile commerce services, […]
Bored Apes set for movie debut with Coinbase
Bored Ape Yacht Club (BAYC) will make its silver screen debut in a film trilogy produced in partnership with Coinbase, the Nasdaq-listed cryptocurrency exchange announced on Tuesday. See related article: Apes Gone Wild! BAYC ‘selling like crazy’ amid otherwise sluggish NFT market Fast facts The first film in the short animated trilogy entitled “The Degen […]
MobiKwik pulls crypto support; Twitter NFT hacker strikes again
In India, Mobikwik yanks crypto support. Meanwhile in the cyberspace, a Twitter hack promotes a fake NFT drop.
Why fears of a market bubble don’t apply to Bitcoin
Crypto market downturns can dredge up bad memories of ICOs. What lessons can investors learn from the past — and how is Bitcoin different?
South Korea’s ‘crypto friendly’ president seeks STO, IEO oversight
South Korean president-elect Yoon Suk-yeol is reportedly working with financial authorities to regulate security token offerings (STOs) and initial exchange offerings (IEOs). See related article: A crypto bull wins the presidency: What it means for South Korea Fast facts STOs, currently being reviewed by Yoon’s Presidential Transition Committee, tokenize traditional securities such as real estate […]
Does the NFT correction foreshadow a nascent comeback?
The market for non-fungible tokens soared, then slumped. That doesn’t worry Spores Network’s Duc Luu, who’s betting on brands to fuel its future growth.
Coinbase India setback; Hong Kong’s Bitcoin ATMs
Coinbase’s launch in India is off to a rocky start. Meanwhile, Bitcoin ATMs grow in Hong Kong.
Bitcoin ATMs face existential threat in Hong Kong
Authorities in Hong Kong moving to block retail investors from accessing non-derivative crypto products could undermine the presence of Bitcoin ATMs in the city with the most crypto ATMs in Asia.
Coinbase’s India launch hits road bump
The governing body overseeing India’s Unified Payments Interface (UPI) said it isn’t aware of any cryptocurrency exchange using the platform, hours after Coinbase said users could use the same to buy and trade cryptocurrencies. See related article: SEC threatens to sue Coinbase over high-yield savings account Fast facts Nasdaq-listed Coinbase launched crypto trading services in […]
Opensea’s Solana beta begins; Binance bails out Sky Mavis
Chinese state media calls for stronger regulations of NFTs. Meanwhile, Sky Mavis raises $150M to offset Ronin hack.
SEC comes around on Bitcoin ETFs
Oversight by the American commodities regulator of the Bitcoin futures ETF by Teucrium helped with the SEC approval.
Bitcoin down amid crypto carnival in Miami
News of officials planning to shrink the Fed’s balance sheet by US$95 billion a month weighed on risk assets globally including Bitcoin which dropped about 5% Thursday early morning Asia time. See related article: Bitcoin, crypto market on the rise along with global markets Fast facts Bitcoin fell as much as 4.7% on sell off […]
Why gamers dislike NFTs — and what might turn them around
Would gamers and developers still feel disdain for NFTs if companies used blockchain technology differently? Will Deane explores the possibilities.
FTX, Tiger Global invest $350M in Near protocol
Near protocol, a smart-contract enabled layer 1 blockchain, has bagged US$350 million in a funding round led by Tiger Global. See related article: Polkadot is top crypto held by VCs and hedge funds in Q4 2021 Fast facts FTX Ventures, Republic Capital, Hashed, and Dragonfly Capital participated in the funding round led by Tiger Global. […]
US sanctions Russian darknet market; Indian MP’s crypto warning
South Korea’s Kakao Group acquires SEBC. Meanwhile in India, an MP reveals the government’s plans for the crypto industry,
Will London be Europe’s next crypto capital?
Top blockchain and cryptocurrency news: Britain’s crypto gamble. WAVES crashing. China’s big digital yuan push.
What is the metaverse and are we already living inside it?
The metaverse is envisioned as the next iteration of the internet, introducing an immersive digital universe. Find out what this means for the future of our online lives — beyond all the marketing hype — in this Forkast.News explainer.
Russian darknet Hydra, crypto exchange Garantex sanctioned by U.S.
The U.S. Department of the Treasury sanctioned what it called “the world’s largest and most prominent darknet market” based in Russia and a cryptocurrency exchange associated with ransomware activities. See related article: Russian-linked strains lead crypto ransomware in 2021: Chainalysis Fast facts The Treasury Department Tuesday sanctioned Hydra Market, alleging it offered a marketplace for […]
Our virtual and in-person events bring people together to join conversations that matter. Previous Events Crypto Rising CBDCS & Stablecoins: The Asia Perspective We are in a history defining moment where money is evolving. It’s not easy to replicate cash, and central bankers around the world face unique challenges. The U.S. is softening up to […]
Waves’ Neutrino USD loses peg amid price manipulation allegations
Since March 31, WAVES’ price has dipped more than 45% while the ecosystem’s native stablecoin USDN has been knocked off its dollar peg.
India to make life hell for crypto investors: MP
India needs to discourage people from investing in cryptocurrencies and digital assets, a senior MP from the ruling party told Forkast in an exclusive interview.
Why are stablecoins overwhelmingly backed by the US dollar?
Stablecoins are taking the world by storm and it’s the US dollar that outweighs any other fiat-backed cryptocurrency. What are the reasons for the greenback’s dominance?
DBS U-turns crypto trading plans; China expands e-CNY trials
DBS Bank reverses its crypto-trading decision. Meanwhile, China continues to expand e-CNY trial.
Is Singapore retreating from its global crypto hub ambitions?
Singapore’s approach may seem increasingly anti-crypto to some, but not to those tracking its policies closely. Danny Chong of Tranchess explains what’s going on.
DBS Bank slams brakes on retail crypto trading
Singapore’s largest lender won’t expand cryptocurrency trading on its exchange to retail investors any time soon due to “regulatory restrictions” in the island state. See related article: How Singapore is reimagining its ‘Asian crypto hub’ image Fast facts CEO Piyush Gupta said that regulatory agencies are “rightfully concerned” about holding back cryptocurrency trading for retail […]
Yi He: Binance will take the arrows for industry compliance, security
Pioneers take arrows. No one knows it better than Binance. The world’s biggest cryptocurrency exchange by volume wants to set the industry standard when it comes to compliance and security as past missteps hold it in good stead.
Calling a spade a spade holds Binance’s lesser known cofounder in good stead
As the world’s biggest cryptocurrency exchange battles the onslaught of regulators globally, cofounder Yi He is stepping out of the shadows to help steer the company.
How decentralization is making everyone their own CEO
The emancipatory promise of decentralization has been both evangelized and excoriated. The Algorand Foundation’s Jason Lee explains why we should be believers.