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Search results: Ethereum

How Wall Street’s ‘best-kept secret’ now fuels high cryptocurrency yields

Celsius Network CEO says crypto lenders are using Wall Street’s ‘safest’ business tactic to provide high interest rates to customers. What are the risks?

Busan plans digital asset exchange; Tencent launches digital IOUs:

Busan plans digital asset exchange meanwhile Tencent launches digital IOUs.

10 key blockchain developments in healthcare toward Covid-19 in 2021

Blockchain technology is part of the important work being done toward a safer and healthier world. Lucas Schweiger of Blockdata summarizes this year’s strides forward.

Bitcoin mining difficulty rising again as miners resettle and get back to work

The global Bitcoin hashrate is now on an uptrend as miners pushed out by China resettle on friendlier shores and resume investing big money in mining equipment.
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Over 220 million people are now crypto users, says new report

The number of crypto users around the world grew to 221 million in June, double the number in January, according to a report released today by Hong Kong-based cryptocurrency exchange, Crypto.com. Fast facts Bitcoin drove the growth in crypto use from January to April, with companies such as Microstrategy, PayPal, Tesla and Visa buying into […]

Crypto retirement plans are on the rise. Are they a good idea?

Tokenization is creating new ways to invest. 3 crypto firms are partnering to also offer crypto retirement portfolios and inheritance planning.

Number of new crypto investors in South Korea drops over 90%

New data provided by lawmaker Kim Hee-gon shows a significant decline in new users and the amount of transactions on the four largest cryptocurrency exchanges in South Korea. Fast facts The data aggregated by the four largest crypto exchanges in Korea — Upbit, Bithumb, Korbit and CoinOne — shows that their total of new users […]

PayPal unveils plan to greatly expand crypto services

PayPal customers will soon have access to a greater range of crypto services through the global payment platform, CEO Dan Schulman said during PayPal’s Q2 2021 investor update call yesterday. Fast facts Describing the upgrade as “code complete,” Schulman said the wallet should be fully available for customers in the Unite States in the next […]

Battle for blockchain talent is heating up. What and where are the crypto jobs?

Flush with capital, blockchain and crypto firms are on a hiring spree. Here’s how the battle for crypto talent is playing out.

Amber Group launches CreatorFi NFT initiative to bridge traditional, crypto worlds

Hong Kong-based crypto financial services company Amber Group wants to bridge the gap between creators, collectors and platforms looking to get into NFTs and the crypto space.

Blockchain developer platform Biconomy Raises $9M, led by Mechanism Capital

Biconomy, a Singapore-incorporated technology company building transaction infrastructure for blockchain applications, today announced it had raised US$9 million in a private funding round led by digital asset fund manager DACM and investment firm Mechanism Capital, according to a company statement. Fast facts Other investors included Coinbase Ventures, Coinfund, Huobi Innovation Labs and Stani Kulechov, founder […]

OKEx parent’s USDK stablecoin revenue dives almost 90%

OKG Technology Holdings, the parent company of crypto exchange OKEx, suffered an 89.8% year-on-year slump in revenue from operating Ethereum stablecoin USDK, its FY 2021 annual report shows. Fast facts Its USDK revenue was just HK$159,000 (US$20,470). Currently, USDK, which launched in 2019, has a market cap of US$28.68 million and a circulating supply of […]

Crypto gets starring role in South Korean historical drama TV series

A cryptocurrency-themed TV drama series with a historical twist is currently in production in South Korea, depicting the make-believe arrival of a cryptocurrency in the country’s ancient Joseon Dynasty. Fast facts “The Age of Money,” as the show will be known, follows a fictional king trying to get to the bottom of an “invisible” brass […]

Goldman applies to launch decentralized finance ETF

As regulation permitting the establishment of Bitcoin exchange-traded funds remains stalled in the U.S., Goldman Sachs has officially applied for an ETF offering exposure to companies in decentralized finance and blockchain. Fast facts In a recent filing to the U.S. Securities and Exchange Commission, the bank said its fund — the Goldman Sachs Innovate DeFi […]

Bybit contributes $19M to BitDAO in ETH, USDT and USDC to support DeFi growth

Singapore-based crypto derivatives exchange Bybit today announced it had made a US$19.3 million contribution in Ethereum (ETH), Tether (USDT) and USD Coin (USDC) to BitDAO, one of the world’s largest decentralized autonomous organizations, which it helped launch last month. Fast facts Many crypto projects, especially those in decentralized finance, have organized themselves as DAOs for […]

NFTs, smart contracts come to ADA as Alonzo mainnet debut approaches

Wolfram Blockchain Labs and Cardano are set to host a livestream event in which items from Wolfram’s computational universe will be “Liveminted” as NFTs on the Cardano network. Details of the event were shared on the website of Cardano’s parent company, Input Output Hong Kong recently, which said it would take place on July 28. […]

Singapore crypto take-up reaches 43% of adults

Cryptocurrencies are gaining traction in Singapore, especially among younger investors. A survey of 1,000 Singaporeans carried out by Toluna, a consumer insights provider, has shown that 43% of Singaporeans own crypto and that 74% of them have increased their wealth by using it as an investment.  Fast facts The survey is said to have been […]

Bitcoin ETF applicant is not surprised by US delays

Valkyrie is among a growing number of asset managers at the SEC’s door, seeking approval to offer a Bitcoin ETF. Will a Bitcoin ETF ever get the green light in the United States?

India issues CBDC update; Korea threatens to block exchanges

India updates its CBDC plans and Korea threatens to block exchanges

SEC: Commissioners’ statement not relevant to Ripple’s XRP lawsuit defense

US Securities and Exchange Commission staffers say their appointed leaders’ views do not reflect the agency’s stance on Ripple and XRP.

DeFi puts down roots in the Bitcoin network

Despite Ethereum being the blockchain of choice for smart-contract capabilities, there has been a recent push to bring decentralized finance to the Bitcoin network. Fast facts One such project looking to do so is layer-one protocol Stacks (STX), whose introduction of its programming language Clarity has allowed the development of smart contracts on the Bitcoin […]

Ping An trials e-CNY; Core Scientific to go public

Ping An trials e-CNY while Core Scientific is the next to get on the SPAC train.

NFT buzz continues as OpenSea raises US$100M

OpenSea, the world’s second-biggest non-fungible token marketplace by trading volume, has raised US$100 million in a series B funding round led by venture capital firm A16z, the company has announced.  Fast facts The new funding raises the company’s value to US$1.5 billion, making it a unicorn — a start-up with a valuation of more than […]

Blockchain gaming unicorn Animoca Brands and Brinc launch NFT accelerator

Hong Kong-based blockchain gaming company Animoca Brands and global venture accelerator Brinc have launched Launchpad Luna, a new accelerator program to identify, mentor, and invest in promising blockchain and non-fungible tokens (NFT) startups, according to a company statement. Fast facts Projects accepted into the accelerator program will receive training, end-to-end support and funding of up […]

Tesla ‘most likely’ will accept Bitcoin again, once environmental targets are met, says Musk

Tesla CEO Elon Musk said while Bitcoin mining is steadily becoming more environmentally friendly through the use of renewable energy, he is not yet sure that it’s enough for Tesla to resume accepting the cryptocurrency as payment for purchases. Fast facts Speaking at the virtual Bitcoin event “The ₿ Word” with fellow panelists Twitter CEO […]

Why Thailand’s oldest bank is investing US$110 million in DeFi

In a special Q&A, Mukaya ‘Tai’ Panich of SCB 10X, the venture arm of Siam Commercial Bank, marvels at decentralized finance innovations. ‘Whatever traditional finance has, there’s a parallel version in DeFi.’

FTX’s $900 million deal. Dogecoin in the doghouse. Digital yuan dragnet.

Top blockchain and crypto news: FTX swells to $18 billion valuation. Etherum and Dogecoin disowned by creators. US pols call for Olympics boycott of e-yuan.

Kakao’s Ground X wins South Korea’s CBDC bidding war

South Korea’s central bank has named Ground X, Kakao’s blockchain subsidiary, as its partner in the country’s central bank digital currency simulation project. Fast facts Ground X was designated as the preferred bidder, beating out Naver and SK C&C. Ground X has more experience in blockchain than the other bidders, operating public blockchain platform Klaytn […]

Clean-energy crypto mining ETF launches to put an ‘E’ in Bitcoin

As Bitcoin’s carbon footprint continues to make ESG investors uneasy, a new clean-energy crypto mining ETF aims to allay their environmental concerns.

Blockchain platform Enjin joins UN Global Compact to further sustainable NFT goals

Singapore-based Enjin, a non-fungible token and gaming blockchain platform, today announced it is joining the United Nations Global Compact corporate sustainability initiative as part of its efforts to develop a sustainable NFT ecosystem. Fast facts The Global Compact is a voluntary sustainability initiative for companies working towards implementing the UN’s Sustainable Development Goals. Through its […]

BlockFi ordered to stop offering interest accounts to New Jersey customers

U.S. crypto lending platform BlockFi has been ordered by the New Jersey Bureau of Securities to stop accepting new customers who are based in New Jersey for its interest-bearing accounts due to alleged violations of securities laws. The order takes effect from from July 22. Fast facts In a series of tweets, BlockFi’s CEO and […]

Grayscale launches new DeFi fund to woo investors seeking token-free exposure

Cryptocurrency investment manager Grayscale has started a fund focused on decentralized finance tokens and based on CoinDesk’s new DeFi-specific index, the company has said in an announcement.  Fast facts The fund offers investors a selection of leading DeFi protocols through a market capitalization-weighted portfolio designed to track the index. It allows investors to allocate funds […]

E-CNY white paper released; Malaysia steamrolls mining rigs

E-CNY white paper explains how it will work with physical RMB while Malaysia steamrolls mining rigs.

How to solve the Bitcoin energy consumption problem

As the world grapples with crypto mining’s carbon footprint, Nischal Shetty of WazirX examines the technical and regulatory solutions.

Late digitization is Asia’s edge in crypto, says Fireblocks CEO

While the West has first mover advantage in traditional banking, Asia — not wedded to ol infrastructure — now has an edge in the crypto era, says Michael Shaulov of Fireblocks.

How blockchain can transform social media | Part 2

Why is social media’s current centralization problematic, and what would a decentralized Twitter or Facebook look like?
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Axie Infinity fans play their way to payday as game token prices soar

Play-to-earn game Axie Infinity has caught the blockchain community’s attention in the past few months as the price of its governance token has kept rising. Now it’s hit an all-time high, players are earning some serious money.

Court grants Ripple bid to force ex-SEC director to testify in XRP case

Ripple scores major discovery win as judge rules ex-SEC official William Hinman must answer ‘central question’ on Ethereum in the globally-watched case about XRP.

Square to build new Bitcoin DeFi platform, says CEO Jack Dorsey

CEO Jack Dorsey announced that his mobile payments company Square has created a new division dedicated to decentralized finance (DeFi) on Bitcoin. For now, Dorsey is referring to the new Square Bitcoin DeFi platform as TBD, having not yet decided on an official name.  Fast facts The DeFi space, which has grown exponentially over last […]

Has the NFT bubble burst? The data says otherwise

Axie Infinity, Meebits and Bored Ape Yacht Club are some of those keeping the market for non-fungible tokens alive.

India seeks crypto advice; K-drama joins NFT bandwagon

India seeks crypto advice meanwhile K-drama joins NFT bandwagon

Hong Kong raid uncovers suspected US$155M crypto laundering scheme

Tether stablecoins linked to funds funneled to banks in Singapore and elsewhere amid worldwide cryptocurrency crime increase.

Polkadot chain Phala Network’s Khala wins 4th Kusama parachain slot

Privacy-focused cloud computing project Phala Network’s “canary network” Khala this week won the fourth Kusama parachain slot auction with 132,280 Kusama (KSM) contributed by 2,759 addresses. A canary network is an experimental environment for blockchain developers to build and test out their code as well as products and services. Fast facts Phala Network is designed […]

U.S. basketball player’s game-worn shoes go on sale as NFT

Ever wanted to own a piece of game-worn NBA merchandise, but without that well-worn fragrance? Now you can. Brooklyn Nets star Spencer Dinwiddie is selling a pair of shoes he has worn in-game as a non-fungible token, Forkast.News has learned. Fast facts The shoes on auction are from Dinwiddie’s K8IROS clothing range, and all proceeds […]

Grayscale’s Bitcoin bounty. Circle’s SPAC listing controversy. NFTs for thieves.

Top blockchain and crypto news: Crypto markets await Bitcoin fund release. USDC issuer opts for the back door. In China, NFT copyrights and wrongs.

C.R.E.A.M. Finance’s Iron Bank and PleasrDAO execute $3.5M loan with NFTs as collateral

C.R.E.A.M. Finance’s Iron Bank today announced that it has facilitated a US$3.5 million loan with cypto art collective PleasrDAO using high-value non-fungible tokens as collateral, according to an announcement shared with Forkast.News. Fast facts Taipei-based C.R.E.A.M. Finance, part of the Yearn finance ecosystem, is a decentralized lending protocol for individuals, institutions and protocols to access […]

India’s ICICI bank blocks foreign crypto remittances

ICICI bank, one of India’s largest lenders, has warned its customers against using its international remittance services for transferring any form of cryptocurrency, the Bharat Express reports. Fast facts The Industrial Credit and Investment Corporation of India recently made an amendment to an international remittance form compelling customers to declare: “The above remittance is NOT […]

S&P Dow Jones launches 5 new crypto indices

Financial index provider S&P Dow Jones has launched five new cryptocurrency indices, according to a company statement, bringing its total number of crypto indices to eight. Fast facts The most significant of these new indices is the Cryptocurrency Broad Digital Market (BDM) Index, which includes more than 240 coins and can be used for a […]

Stablecoins promise much, but can they deliver?

As issuer Circle prepares to list and China sounds the alarm over speculation, the mood among regulators is mixed, despite stablecoins’ clear appeal to investors.

Band Protocol launches Phase 2 to bring off-chain data to DeFi

Oracle platform Band Protocol is aiming to enable data providers like Google Cloud and Bloomberg to work better with decentralized applications.

Korea crypto law applies to Binance; Samsung Next invests in Nifty’s

South Korean financial watchdog says the nation’s crypto laws will apply to foreign exchanges.

Thai faithful pay up for religious trinket NFTs

Non-fungible tokens have gained traction across Asia, but in Thailand, the phenomenon has taken on a distinctive local twist: amulets featuring a revered abbot of a Buddhist monastery that believers say ward off evil spirits. Fast facts Crypto Amulets is a company that develops NFT amulets on the Ethereum blockchain. Founded in March, it offers […]

Bull run or BS? Where will crypto markets go after the Bitcoin crash?

Soaring BTC and altcoin prices earlier this year drew in new investors, who now worry about the current slump. Will crypto prices rise again, or are modest valuations here to stay?

Grayscale registers large-cap crypto fund with SEC

Grayscale Investments — the world’s largest digital asset manager — has registered its Digital Large Cap Fund with the U.S. Securities and Exchange Commission following the filing of a registration statement Form 10 last year. Fast facts The company has also announced it is filing three additional registration statements via the same form for the […]

Bitcoin outflows near $7M in ‘quietest’ crypto trading week for nine months

Cryptocurrency investment products saw a total outflow of US$4 million last week in the “quietest trading week since October 2020,” according to digital asset investment firm CoinShares’ weekly digital asset fund flows report. Fast facts Cryptocurrency markets remained soft, with Bitcoin seeing US$6.9 million of outflows. Trading volumes in investment products totaled just US$1.58bn for […]

Korean banks extend crypto contracts; Axie Infinity tokens surge

Korean banks extend partnerships with crypto exchanges — for now. And also in Korea, how to earn crypto during bathroom breaks.

Gravity DEX brings DeFi into Cosmos network’s orbit

Cosmos’s DeFi capital pulling power is set to get stronger as Gravity DEX launches, with Gravity Bridge and the Emeris DeFi portal on the way.

Ripple seeks to force ex-SEC director to testify on XRP next week

Despite opposition from the U.S. Securities and Exchange Commission, Ripple is pushing ahead with plans to question former SEC director William Hinman, the former head of the regulator’s Division of Corporation Finance, telling the judge overseeing discovery in the SEC v. Ripple Labs lawsuit that Hinman’s deposition has been rescheduled to July 19, according to a […]

Axie Infinity token AXS price hits all-time high, Small Love Potion also surges

The price of Axie Infinity blockchain game’s native token has been on a tear. Why is Small Love Potion (SLP), a token on the AXS ecosystem, also rising?

Derivatives will be crypto’s ‘next big thing’ says 100x CEO

Crypto industry gets the ‘overleveraged’ label and authorities are cracking down on derivatives providers. Alexander Höptner of 100x believes the pushback foreshadows the industry’s next big thing — derivatives.

Delta variant spooking crypto markets? Fresh warning on crypto payments

Market dominance suggests that investors are flocking towards Bitcoin as Covid delta variant concerns hit markets. In Thailand, authorities remind the industry of their stance on cryptocurrency payments.

Cardano overtakes Bitcoin as most-held crypto on eToro trading platform

Cardano leapfrogged Bitcoin as the most held cryptocurrency on social trading platform eToro in the second quarter of 2021, the platform reported this week. Fast facts Bitcoin, which led the cryptocurrency bull run at the start of the year, saw a 42% increase in demand, but slipped from first to second place behind Cardano. Cardano […]

Elizabeth Warren warns over crypto risks, presses SEC on regulation

U.S. Senator Elizabeth Warren has written to Securities and Exchange Commission Chair Gary Gensler enquiring about the SEC’s authority to regulate cryptocurrencies and asking what future congressional regulatory action is needed, according to a Reuters report. Fast facts Requesting a reply by July 28, Warren, who heads the Senate Banking Committee’s Subcommittee on Economic Policy, […]

Crypto prices continue to fall: Is the market ailing from the Covid Delta variant?

The price of Bitcoin and other cryptocurrency continue to slide as global failure to contain the Covid Delta variant lead to worries of another economic downturn.

SEC says Ripple not entitled to testimony on XRP from ex-director

Is William Hinman a former ‘high-ranking’ SEC official exempt from disclosing his prior communications on XRP, or must he provide testimony to Ripple?

US$1.5B South Korean ‘kimchi premium’ crypto scheme prompts 33 arrests

Customs officers use foreign exchange law to shut down cycle of foreign remittances and arbitrage.

Meitu to lose big on BTC investments; SK banks warned over crypto laws

Chinese tech giant forecasts a US$17.3 million loss in its BTC investment as more musicians in Asia lean towards NFTs.

Will Basel Committee’s proposed rules for crypto banking fly?

The standards-setter for banks around the world wants to subject crypto like Bitcoin to higher capital requirements. What do industry players think?

Huobi’s public blockchain expands with Animoca, CoinMarketCap and DeFi projects

Huobi Eco Chain, an open-source, decentralized public blockchain, today announced 11 new partners, including Hong Kong-based blockchain gaming company Animoca Brands and crypto data website CoinMarketCap — which is owned by Huobi rival Binance — that will run validating nodes to improve the stability and decentralization of the network. Fast facts Other new validators include […]

IBC Group moves out of China; Pavilions Hotels to accept crypto

IBC Group becomes the latest to seize Bitcoin and Ethereum mining operations in China as crypto gets the nod from Pavilions Hotels and Resorts.

CoinShares acquires Elwood’s Global Blockchain Equity Index

CoinShares, Europe’s largest digital asset investment firm, today announced that is acquiring Elwood Technologies’ Exchange Traded Fund Index Business and its equity research unit in a US$17 million equity swap. Fast facts The deal will see CoinShares adding over US$1 billion in assets under management through the Invesco Elwood Global Blockchain Equity UCITS ETF, which […]

Pavilions hotel chain to begin accepting crypto as payment

Global resort group Pavilions Hotels & Resorts will allow its customers to use crypto to book stays as of tomorrow, its managing director for Asia has told Forkast.News. Fast facts Scot Toon said Pavilions had partnered with British payment service Coindirect to allow guests paying in more than 40 cryptocurrencies, including Bitcoin and Ethereum, to […]