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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.

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.

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.
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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.

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.

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.

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.”

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.

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.

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

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.

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.

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.

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.

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.

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.

Troubled Hong Kong crypto exchange AAX unlikely to reopen, says former executive

Hong Kong-based crypto exchange AAX is likely to end operations and restructure, former head of communications, Ben Caselin, told CoinDesk TV on Wednesday.

South Korea’s Shinhan Bank starts ‘metaverse’ services, according to local media

Shinhan has opened a metaverse to provide financial and non-financial services, claiming to be the first bank in the country to provide such a platform.

U.S. crypto exchange Kraken to lay off 30% of its workforce, cites ‘market conditions’

U.S.-based crypto exchange Kraken said it will lay off 30% of its global workforce, or approximately 1,100 people, to “adapt to current market conditions.”

Telegram plans decentralized crypto exchange, wallets following FTX collapse

Telegram plans to build non-custodial wallets and decentralized exchanges for cryptocurrencies following the collapse of the FTX exchange says CEO Pavel Durov.

It’s time for more institutions to adopt blockchain and crypto: Opinion

Despite the myriad benefits of blockchain and cryptocurrency, institutional interest remains mixed in Asia Pacific. What lessons should the industry learn from 2022 to overcome the barriers to adoption?
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Markets: Bitcoin, crypto, rise after Fed Chair Powell hints at easing rate hikes

Bitcoin and Ether rose as Fed Chair Jerome Powell said on Wednesday that the central bank may start easing interest rate hikes.

Philippine Blockchain Week: Blockchain adoption struggles in the Philippines as businesses ‘invest to survive’

Blockchain adoption in the Philippines is struggling because businesses are focused on survival, according to Dr. Donald Lim, lead convenor at Philippine Blockchain Week in Manila.

Grayscale holdings questioned amid crypto investment giant’s silence

Top blockchain and crypto news: Grayscale’s cryptic reserves. Binance rides to the rescue? China hit by protests and digital dissent.

China activists use NFTs, decentralized technology to counter censorship

Many are minting NFTs and posting articles on Matters, a decentralized content-sharing platform, amid protests across China against Covid-19 lockdowns that turned political.

Diverging paths of two CEOs running FTX’s Alameda Research may meet again in court

Employee accounts of life at Sam Bankman-Fried’s flagship cryptocurrency trading arm Alameda Research paint a picture of overworked and inexperienced millennials running a ship headed for the rocks: one seemingly escaped.

Dominica releases ‘world’s first’ national crypto token with Huobi, Tron

The Commonwealth of Dominica in the Caribbean reportedly issued its national crypto token, DMC, on Tuesday, in partnership with crypto exchange Huobi Global, TronDAO and DMC Labs.

Swiss crypto bank SEBA Bank expands to Hong Kong

Swiss crypto bank SEBA Bank announced on Wednesday the opening of its Hong Kong office to serve global institutional clients as part of its Asia-Pacific expansion. See related article: Hong Kong said it remains upbeat on digital assets after FTX debacle  Fast facts See related article: Hong Kong needs engineering talent to reclaim role as […]

Digital Currency Group receives offers to buy CoinDesk: report

CoinDesk, an online crypto news site, has attracted potential buyers to take over the media outlet from Digital Currency Group amid market turmoil, Semafor reported.

S. Korea releases ethical guidelines for the metaverse

South Korea’s science ministry released a guideline of core ethical principles for metaverse application participants.

Coinbase wallet ends support for ETC, BCH, XRP, XLM

The largest U.S.-based cryptocurrency exchange Coinbase Global Inc. announced that its wallet will no longer be supporting Ethereum Classic (ETC), Bitcoin Cash (BCH), XRP and Stellar (XLM).

India to roll out retail CBDC on Dec. 1

India will launch its retail CBDC pilot on Thursday with plans to gradually expand trials, the RBI announced on Tuesday.

FTX to resume paying wages

FTX Trading and its affiliates will resume paying wages to employees globally and to some non-U.S. contractors and service providers

BlockFi files for bankruptcy protection, set to sue Sam Bankman-Fried over collateral

The cryptocurrency lender was hit by the earthquake set off across the industry by the collapse and bankruptcy of the FTX crypto exchange this month, and other companies are looking vulnerable.

ECB’s Christine Lagarde: Further crypto regulation ‘absolute necessity’ following FTX collapse

Christine Lagarde of the European Central Bank said regulating cryptocurrency in the EU is an “absolute necessity” following the collapse of Bahamas-based exchange FTX.com.

Kraken pays over US$360K to US Treasury to settle Iran sanctions allegations

U.S.-based cryptocurrency exchange Kraken has agreed to pay over US$362,000 to settle claims that it violated sanctions against Iran, the Treasury said Monday.

Will the future metaverse amplify the good or the evils of the real world?

The metaverse has the potential to improve access to opportunities and create a better version of the offline world. How do we prevent it from perpetuating society’s ills?

U.S. cryptocurrency lender BlockFi files for Chapter 11 bankruptcy, will lay off about 200 staff

Crypto lender BlockFi Inc. and eight of its affiliates have filed for Chapter 11 bankruptcy reorganization in the U.S.
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Markets: Top 10 crypto fall as BlockFi enters bankruptcy, macroeconomic concerns spread

Bitcoin and Ether fell in Tuesday morning trading in Asia as U.S.-based crypto lender Blockfi filed for bankruptcy overnight in what is seen as another casualty of the collapse of the FTX exchange this month.

LINE’s crypto exchange BITFRONT announces closure, to suspend trading by 2023

LINE’s cryptocurrency exchange based in the U.S., BITFRONT, has announced closure on Monday to shift its focus to developing LINE’s blockchain ecosystem.

Blockchain is transforming capital markets, and Singapore is leading the way: Opinion

Asset tokenization and DeFi hold tremendous potential for the finance sector, writes Han Kwee Juan of DBS Bank. Here’s how the Singaporean government is at the forefront of change.

U.S., S. Korea applied for over 75% of world’s metaverse patents: report

Companies based in the U.S. and South Korea have filed for more than 75% of patent applications related to the metaverse, VR and AR.

NFT images of anti-lockdown protests in China flood OpenSea

Pictures taken from protests against China’s zero-Covid policy across the mainland are now for sale on OpenSea, the largest NFT marketplace, as non-fungible tokens (NFT).  See related article: ‘Voice of April’ NFTs highlight Shanghai struggles amid lockdown  Fast facts See related article: Bitcoin price follows slide in Asia equity markets amid growing China protests against […]

Changpeng Zhao says Binance has ‘no negative balances involved’ in proof of reserves

Changpeng Zhao tweeted that Binance’s proof of reserves have “absolutely no negative balances involved” after the exchange released its PoR on Friday.