PayPal’s stablecoin is a big step forward for crypto’s legitimacy but not much yet for the cause
PYUSD’s launch is injecting much-needed trust into crypto’s turbulent landscape, but its current form does not come with any of the benefits of real crypto, writes Danny Chong, co-founder of Tranchess.
AI, Asia and analytics — an interview with Nansen’s Alex Svanevik
Blockchain analytics are key to understanding the nascent crypto industry. But the analysis sector is far from immune from the pressures of the ongoing crypto bear market. In the first of a series of 1-on-1 interviews from the Token2049 conference held in Singapore Sept. 13-14, Alex Svanevik, CEO of blockchain analytics firm Nansen, sat down with Forkast to discuss current crypto challenges, the Asia growth market and the increasing use of artificial intelligence in the industry.
NFT creators seek alternatives after OpenSea cuts royalties
Following OpenSea’s decision to cut creator royalties, artists are seeking more creator-centric alternatives, but industry experts told Forkast that the decision could impact the entire NFT space in the long term.
South Korea’s Kakao, Com2Us wind down metaverse units
South Korea’s top internet company Kakao and leading game developer Com2uS are sizing down their metaverse teams after large losses.
Adding AI to Web3 will spark a Cambrian explosion of innovation — but not anytime soon
Blockchain and AI’s synergistic combination will create technology beyond today’s wildest imagination. But true AI-Web3 integration remains a difficult affair.
US SEC to tighten regulatory enforcement beyond Coinbase, Binance.US
Top blockchain and crypto news: U.S. SEC steps up regulatory enforcement. Gaming giant Zynga moves into NFTs. Woes ahead for JPEX exchange after HK arrests.
It’s time to bring debt capital markets to the 21st century
Bond markets, which go back 400 years, are still bogged down by high costs, delays and a gauntlet of middlemen. Here’s how blockchain technology can reform the sector.
Bitcoin trades above US$27,000; Toncoin extends rally
Bitcoin rose on Wednesday morning in Asia to trade above US$27,200. Ether remained flat at around US$1,640. All other top 10 non-stablecoin tokens logged gains.
U.S. SEC denied immediate access to Binance.US software
A U.S. federal judge has denied the U.S. Securities and Exchange Commission immediate access to Binance.US’ software, in response to the regulator’s motion demanding more detailed information from Binance and greater availability of its executives for depositions.
How Singapore is redefining Web3’s public-private landscape
Now a top-ranked crypto hub, Singapore is a shiny example of the central role that government can play in nurturing industry growth while bolstering consumer protections.
Citigroup debuts digital token service for institutional clients
Citigroup announced Monday the launch of its new blockchain-based cross-border payments solution for institutional clients.
Bitcoin, Ether flat; altcoins drop amid FTX liquidation
Bitcoin dipped on Monday morning in Asia to trade at around US$26,500. Ether also moved lower but held the US$1,600 support level.
Valkyrie CIO expects US spot Bitcoin ETF approval in Q2 2024
A growing number of asset management companies are joining the race for the approval of a Bitcoin spot exchange-traded fund in the United States while the Securities and Exchange Commission keeps delaying its decision on existing applications.
Crypto and Formula One’s honeymoon is over, can Web3 save a rocky marriage?
The third installment of Forkast’s ‘Crypto in Sport’ series comes from Singapore, which this week plays host to Formula One’s Singapore Grand Prix. Crypto companies poured hundreds of millions of sponsorship money into F1 at the height of the bull market, but might a prolonged crypto winter pull the plug on this marriage of convenience? Or can diversification and real world use cases help breathe new life into the relationship? Welcome to crypto’s very own drive to survive.
Half a world away — Gary Gensler’s SEC dominates discussion at Singapore’s Token 2049
Billed as Asia’s largest crypto event, Token 2049 took place over Sept. 13-14 in the Southeast Asian city-state of Singapore. Drawing over 10,000 attendees from all parts of the world, there was excitement about blockchain adoption in the region. But repeat references to one man were a reminder of the U.S. regulatory concerns weighing heavily on the crypto industry.
Who’s who in the Sam Bankman-Fried trial?
FTX’s former CEO, Sam Bankman-Fried, faces DOJ scrutiny with seven charges. Here are the six key figures in the coming crypto courtroom showdown.
Investing in a Monet painting is no longer just for the super-rich, thanks to blockchain
The gates are opening for ordinary investors to buy into real-world assets like rare art and fancy real estate. But regulations and compliance hurdles remain.
Binance.US CEO calls it quits amid major layoffs
Top blockchain and crypto news: Binance.US undergoes staffing shakeup. Ethereum NFTs at risk. India to take a stand on crypto.
Astar, Polygon joins power to launch zkEVM solution for wider Web3 adoption
Japan-based Astar Network announced Wednesday that it is launching its zkEVM solution powered by Polygon’s Chain Developer Kit.
Binance.US cuts one-third of workforce; CEO Brian Shroder steps down
The U.S. affiliate of the world’s largest cryptocurrency exchange Binance has laid off one-third of its staff, or more than 100 employees.
Bitcoin, Ether bounce back; altcoins recover after FTX panic
Bitcoin rose on Wednesday morning in Asia to near US$26,000. Ether also bounced back to near US$1,600. All other top 10 non-stablecoin tokens logged gains.
Why DAOs are choking on majority rule and failing their democratic ideals
To solve DAOs’ people problems with mismanagement and bad actors, they need to lean into automation — and take more matters out of human hands.
Bitcoin, Ether lose key support levels; altcoins slide amid FTX liquidation woes
Bitcoin fell on Tuesday morning in Asia to hover above US$25,000 after briefly losing the key support level. Ether also slid to lose control of US$1,600.
Advice for Web3 projects: Your reputation is as important as your runway
Web3 companies often focus on building their tech above all else, but poor public communications can undermine all the work they do.
Korea Blockchain Week: diverging crypto paths for the US and Asia
The annual Korea Blockchain Week conference in Seoul is running from Sept. 4 to 10. Crypto industry leaders and advocates from around the world have gathered in the South Korean capital to discuss all things blockchain, including the growing regulatory gap between the U.S. and Asia.
From Fukuoka to the world? The Japanese DAO trying to shake up sports fandom
In the second installment of Forkast’s ‘Crypto in Sport’ series we head to the land of the rising sun, where J1 League football club Avispa Fukuoka have incorporated a first-of-its-kind DAO into their operations. Can the DAO provide a model for the rest of the sports world to follow? Can it change the way fans engage with their clubs?
Former FTX exec Ryan Salame to forfeit US$1.5 billion after pleading guilty to charges
Salame pleaded guilty Thursday in New York to two criminal charges related to the collapse of the FTX cryptocurrency exchange last November.
Bitcoin above US$26,000; JP Morgan working on blockchain payment system
Bitcoin rose Friday morning in Asia to above US$26,000, leading a rally across most top 10 cryptos. Ether gained but was still below US$1,650.
How the metaverse can expand the mindscape for human connections
Socializing in a virtual world has been around for 20 years but remains a niche pursuit. Will AI and the new generation of digital natives make it mainstream?
US regulation could stifle blockchain innovation, says former White House cybersecurity director
Blockchain innovation in the U.S. could suffer from over-regulation of the crypto industry, cybersecurity expert Carole house said.
South Korea’s Hana bank partners with BitGo on digital asset services
KEB Hana Bank, one of South Korea’s largest financial institutions, will offer digital asset custody services from the latter half of 2024.
Do you really trust the smart contracts in charge of your crypto?
Making sure the smart contracts behind DeFi platforms are thoroughly audited isn’t just a job for code developers — it’s also a must for ordinary investors.
Bitcoin, Ether down; Binance loses another top executive
Bitcoin edged lower on Tuesday morning in Asia to trade below US$26,000. Ether dipped to near the US$1,600 mark.
India’s G20 presidency has failed to advance global crypto governance, ex-finance secretary says
With nine months under its G20 presidency belt, India’s approach to cryptocurrency governance remains static. Amid regulatory ambiguity, the nation’s crypto industry struggles to cope with stringent tax rules.
Bitcoin, Ether remain under key levels; Sol leads gains in top 10 cryptos
Bitcoin and Ether have struggled to gain traction since the Securities and Exchange Commission (SEC) postponed its decision on seven Bitcoin ETF proposals.
Are Bitcoin and STOs birds of a feather? Think again
Bitcoin’s birth marked a radical departure from the strictures of centralized finance. Is the advent of asset tokenization undermining the original crypto’s founding ideals?
Grayscale wins against SEC as India moves on blockchain; Friend.tech loses friends
Welcome to Forkast IQ, presented by Forkast’s Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions.
Bitcoin below US$26,000, most other top 10 cryptos extend losses
Bitcoin, Ether and other cryptos dropped on Friday afternoon in Asia. Toncoin and Tron gained.
How crypto can help Africa reap greater yields — of the agricultural kind
Assisted by blockchain and AI, small farmers can make better use of data for more bountiful harvests. But adapting to new technology isn’t always easy.
Bitcoin falls back to US$26,000, Ether nears ‘death cross,’ while investors await US jobs report for August
Bitcoin, Ether and other cryptos were down Friday morning. U.S. equities were flat as investors look towards August’s jobs report later Friday.
Grayscale triumphs over SEC: A David v. Goliath win in the crypto arena
Top blockchain and crypto news: U.S. court compels SEC to review Grayscale’s ETF application. SEC zooms in on NFTs. Asia’s richest man eyes blockchain, CBDCs
India’s CoinSwitch crypto exchange fires 44 employees as trading volumes drop
CoinSwitch, an Indian cryptocurrency exchange backed by Tiger Global and Sequoia Capital, has laid off 44 employees from its customer support team due to a drop in customer queries with falling trading volumes.
How Worldcoin is undermining crypto’s original ethos
The new crypto from OpenAI’s founder requires users to supply biometric data. What if those in control can identify you — and follow your every financial move?
Welcome to 2030: I own everything, and life’s actually pretty good
Here’s a look at a future where Web3 technology will allow us to have ownership stakes in all things and avoid a subscription-based consumerist hellscape.
How dynamic NFTs can bring brand engagement to a new level
NFTs are now capable of being interactive and changing with the weather, user location and time of day. What are the downsides and challenges ahead?
It’s time for Web3 gaming to up its own game
Blockchain games are often touted as the next big thing. Joseph Cooper, CEO of Earn Alliance, takes a hard look at the industry’s challenges and how to overcome them.
Mastercard and Binance end crypto card partnership, services shut down in Latin America, Middle East
Mastercard and cryptocurrency exchange Binance will end their crypto debit card program in Argentina, Brazil, Columbia and Bahrain from Sep. 22.
Bitcoin, Ether rise with SOL leading winners in top 10 cryptos
SOL was the biggest gainer in the top 10 following its Shopify deal. Bitcoin and Ether also rose along with most top 10 cryptocurrencies.
Blockchain tech in Thailand gets boost from new pro-crypto leader
Blockchain technology in Thailand could soon receive a boost by new Prime Minister Srettha Thavisin, who had promised during his campaign to give 10,000 baht (US$300) through digital wallets to every Thai citizen aged 16 years and above.
SOL falls to six-week low, BNB biggest gainer despite reports of Binance violating Russian sanctions
Bitcoin recaptured the US$26,000 mark today, while Solana fell to a six-week low. BNB was the biggest gainer in the top 10, despite allegations against Binance resurfacing.
Could Rishi Sunak’s blockchain dream live on without him?
This final installment of a 3-part series on the U.K. digital asset industry looks at the politics driving the British crypto conversation. PM Rishi Sunak is a believer, but an election’s coming up, and his rivals appear less keen on turning the U.K. into a global crypto hub.
How DAOs can avoid voter apathy — and power struggles
Good governance of a DAO can be hampered by a disengaged community and whale dominance. What can be done when 1% of stakeholders holds 90% of voting power?
Bitcoin below US$26,000 with a new low of US$20,000 in the cards
Bitcoin fell Wednesday morning in Asia to trade below US$26,000. Ether also dropped as all other top 10 non-stablecoin tokens traded flat to lower.
‘Third category thing’ — untangling digital asset property law in England and Wales
How can we claim to own something that falls outside traditional categories of personal property? In this second installment in a 3-part series looking at the U.K. digital asset industry, Law Commissioner for England and Wales Sarah Green explains how.
Bitcoin recovers after falling below $26,000 as the ETF excitement bubble bursts
Bitcoin stabilized Tuesday morning in Asia after dropping below the key US$26,000 support level over night. Ether also dipped but held the US$1,600 mark.
How the rise of asset tokenization could redraw global financial power maps: Opinion
Fractionalizing assets on-chain can greatly increase liquidity, security and market efficiency, writes Hamilton Keats. Here are the key trends and challenges.
By royal decree — the UK moves toward regulating crypto
This first installment in a 3-part series on the U.K. digital asset industry looks at recent efforts to regulate crypto and expand the sector.
Bitcoin, Ether stable after last week’s nosedive; XRP leads crypto gains; US stock futures mixed
Bitcoin edged up on Monday morning in Asia to trade above US$26,000, after sliding over 10% for the week. Ether also moved higher but remained below US$1,700.
Tether stops USDT stablecoin mints on three blockchains
Tether, the issuer of the world’s largest stablecoin USDT, announced on Thursday that it will discontinue support for its flagship stablecoin, on three blockchains, Kusama, Bitcoin Cash SLP (Simple Ledger Protocol) and Omni Layer.
How blockchain-backed ID can lift up the lives of the unbanked masses: Opinion
Digital ID verified via blockchain can greatly expand economic opportunities for the world’s poor. But the market is fragmented and faces a rocky road of regulations, writes Tamas Kadar, CEO of SEON.
Bitcoin steady at US$28,500; Dogecoin leads market decline in Asia
Global institutional intrigue in digital currencies grows but the cryptocurrency market shows no signs of rallying.
Will Singapore steady the stablecoin ship?
Top blockchain and crypto news: Singapore steps up stablecoin rules. DeGods decline. Hong Kong’s third crypto license.
Bitcoin extends losses as BNB falls after Binance closes payment service
Bitcoin extends the day’s losses but keeps above US$29,000, while Binance’s BNB drops amid exchange’s payment service closure.
Singapore unveils stablecoin regulatory framework
The Monetary Authority of Singapore unveiled a stablecoin regulatory framework on Tuesday as the city-state aims to become a global hub for the crypto industry.
TradFi has its eyes on crypto, and here’s the real reason why: Opinion
Wall Street thought crypto would be a passing fad. But more big institutions are having a change of heart, in spite of crypto’s protracted market woes.
Cryptos decline on the back of Wall Street losses and Fed speculation
Bitcoin and Ether fell on Wednesday along with all other top 10 cryptos, NFTs moved down while U.S. stock futures steadied after a rocky Tuesday.
FTX founder Sam Bankman-Fried charged with stealing customer funds for political donations
The FTX founder faces charges of wire fraud, securities fraud, commodities fraud and money laundering related to the exchange’s collapse in November.
To read Hong Kong’s future as a crypto hub, look closely at its colorful paper money: Opinion
Most countries allow only government to mint currency, but in the land of public-private partnerships, legal tender HKD notes are issued by private banks.
Bitcoin trading sideways; NFT transactions soar; Nvidia leads Wall Street rally
Bitcoin edged higher on Tuesday morning in Asia. Ether also edged up, while other top 10 non-stablecoin tokens traded flat to higher. Solana led the winners.
BTC Markets CEO sees silver lining in Australian banks’ crypto clampdown
Australian banks are heightening scrutiny on digital asset exchanges and restricting crypto payments due to rising scams and frauds. Caroline Bowler, CEO of BTC Markets highlights the challenges and opportunities faced by the industry in the country.
Bitcoin inches up; Dogecoin, Solana lead losses
Bitcoin rose slightly in the past 24 hours while Ether lost. Dogecoin and Solana were the day’s biggest losers, both dropping by over 1%, although both posted gains on the week.
Who do you trust the most to keep your Bitcoin safe?
Storing crypto on an exchange risks theft and hacks. But DIY can also be perilous — just ask the guy who accidentally trashed a hard drive and his Bitcoin fortune.