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A radically different financial architecture is here. Who will own it?

DeFi is a real-world experiment testing out a new model for finance, writes Alex Grebnev of Oxygen. What is the future of banking without Wall Street?

Blockchain gaming unicorn Animoca Brands closes $65M capital raise at $2.2B valuation

Animoca Brands, a Hong Kong-based blockchain gaming, metaverse and non-fungible token (NFT) company, has closed a capital raise for US$65 million at a pre-money valuation of US$2.2 billion, according to a company statement. Fast facts Investors in the round included Liberty City Ventures, Ubisoft Entertainment, Sequoia China, Dragonfly Capital, Token Bay Capital and Justin Sun, […]

The crypto policy landscape and how to educate policy makers about Web 3.0 | Ep. 5

How the crypto economy is engaging with legislators, what policy makers need to know about Web 3.0 and what role the U.S. infrastructure bill has played in kickstarting better cryptocurrency education.

How to make sense of the hot new digital assets, like Bored Apes? Think: Lego blocks

Money, culture and community are now converging in NFTs and the token economy, writes Lily Z. King. Welcome to a new world where ‘money Lego’ meets ‘culture Lego.’

South Korean crypto exchanges look for new revenue sources

After iron-fisted regulations closed down many exchanges, remaining trading platforms look for alternatives to transaction fees.

37% of Singaporeans use or are keen on crypto for purchases — but more are uninterested: report

More than one-third — or 37% — of Singapore residents are already using or are interested in using cryptocurrencies to pay for purchases, according to the latest research from Worldpay from FIS, a payment platform. But nearly half — or 47% — of Singaporean respondents said that they were not interested in using cryptocurrencies for payments. […]

China’s crypto investors get creative to bypass domestic trading ban

Some are registering companies overseas, via — you guessed it — Taobao vendors.

Where are Bitcoin prices heading as 2021 ends? 50 experts offer predictions

As the price of Bitcoin hovers just under its all-time high, a report released today by Australia-based comparison site Finder.com is predicting that the world’s largest cryptocurrency will peak at US$80,021 later in 2021 before ending the year slightly lower at US$71,415. Fast facts Bitcoin was trading at US$62,294 at publishing time, just below its […]

Facebook to create 10,000 jobs in the EU to build its vision for the metaverse

Facebook says it will create 10,000 jobs in the European Union over the next five years to build its highly anticipated metaverse — a digital platform that utilizes technology such as virtual and augmented reality that the company says has the potential to unlock new creative, social and economic opportunities. Fast facts According to a […]

Samsung Next, others grow blockchain portfolio despite tightened South Korea regulations

Conglomerates including Samsung continue to invest in blockchain and crypto startups despite a government crackdown on the industry.

Taking opulence online: How blockchain is beckoning luxury brands

As luxury brands eye the virtual realm, Zilliqa co-founder Max Kantelia looks forward to a convergence of desirable objects and digital opportunities.

Ripple joins Digital Pound Foundation as it looks to expand its CBDC business

Ripple, a San Francisco-based blockchain payments company, has joined the Digital Pound Foundation, a non-profit organization supporting the implementation of a digital pound in the United Kingdom, according to a Ripple blog post. Fast facts As a foundation member, Ripple will be represented on the board by Susan Friedman, Ripple’s head of policy. Other foundation […]

Sotheby’s to auction digital art in a digital world

Sotheby’s, the 277-year-old auction house, is launching its own immersive digital experience to offer prospective buyers a new way of engaging with the latest art-world craze — non-fungible token (NFT) artworks — according to a press release shared with Forkast.News. Fast facts Sotheby’s is creating a metaverse to allow users to explore and learn about […]

Binance taps former Dubai financial services official as regulatory liaison chief

Binance — the world’s biggest cryptocurrency by trading volume — today announced the appointment of Mark McGinness, former head of international relations at the Dubai Financial Services Authority (DFSA), as its chief regulatory liaison officer, according to a company statement. Fast facts McGinness’ appointment comes as Binance bolsters its compliance efforts and navigates regulatory headwinds […]

Crypto platforms Cobo, Gate.io leave mainland following China crypto ban

Cryptocurrency investors on the Chinese mainland continue to feel the chill from the country’s latest crypto ban, as more and more industry players exit the Chinese market. Cobo, a Singapore-based crypto management platform, is among the latest to opt out. Fast facts In order to reflect the regulatory requirements on the mainland, Cobo said Wednesday […]

Bitcoin bulls set for stampede amid six-figure forecasts

Top blockchain and crypto news: Big money heads for Bitcoin. How fishy are Squid Game NFTs? China mothballs mining.

Coinbase and Binance move to diversify; Stablecoins under scrutiny

Coinbase and Binance move to diversify meanwhile Stablecoins under scrutiny

Crypto exchanges diversify amid growing competition

As non-crypto players like Twitter and PayPal take up digital assets, Coinbase, Binance and others look for ways to expand offerings.

Hex Trust integrates Hedera Hashgraph into custody platform

Hong Kong-based digital asset custodian Hex Trust has integrated enterprise-grade public blockchain network Hedera Hashgraph into its Hex Safe custody platform, the company announced today. Fast facts With the integration, Hex Trust’s Hex Safe custody platform will support HBAR — the Hedera network’s native cryptocurrency — and tokens issued using the Hedera Token Service (HTS), […]

Blockchain analytics firm Elliptic bags $60M from SoftBank, Wells Fargo, others

Blockchain analytics company Elliptic has raised US$60 million in its Series C funding round led by Evolution Equity Partners and Japanese investment giant SoftBank, the company has announced. Fast facts Elliptic counts a number of marquee investors among its existing backers who participated in the current financing round, including Digital Currency Group, Wells Fargo Strategic […]

Samsung backs blockchain-based gaming, invests in Axie Infinity

South Korean conglomerate Samsung is increasingly involved in the burgeoning world of blockchain-based gaming, while within Korea, games with blockchain elements are banned from official release in the country. Fast facts Samsung Next, the tech giant’s investment subsidiary, participated in a US$152 million Series B round of Sky Mavis, the Vietnam-based blockchain game company and […]

Altcoin Stacks STX price surges 70% as crypto market slumps

While most of the market was down around 5% coming into the Asia trading day this morning, altcoin Stacks was up over 70% in 24 hours on Sunday night, according to data from CoinMarketCap, hitting a high of US$2.45 — the highest point the token had reached since the market-wide crash in May. The price has fallen […]

Blockchain technology to aid journalists in South Korea

A South Korean tech company is partnering with the largest organization of professional journalists in the country to develop digital tools and techniques to tackle problems in the journalism industry. Fast facts Media technology developer PUBLISH recently announced signing a memorandum of understanding (MOU) with the Journalists Association of Korea (JAK), which represents over 11,000 […]

Tether fires back; Easy Crypto closes Series A funding round

Tether fires back while Easy Crypto closes Series A funding round

Is Blockchain’s age of interoperability finally on the horizon? 

As blockchain nodes multiply around the world, the need for interconnectivity has never been greater. John DeVadoss of InterWork Alliance explains why.

Crypto exchange Binance looks to Ireland for regional HQ

Binance — the largest cryptocurrency exchange in the world — is looking at setting up regional headquarters in Ireland, according to Reuters. Fast facts “Historically, we claim that we don’t have headquarters. We are actually just in the process of establishing a few headquarters in different parts of the world,” Binance CEO Changpeng Zhao told […]

CoinSwitch Kuber becomes unicorn; Australians reminded over crypto tax

Coinswitch Kuber becomes unicorn meanwhile Australians reminded over crypto tax

Australian Tax Office warns: taxpayers on the hook for crypto tax earnings

Officials are concerned that many investors may not be aware crypto trading is taxed in a similar way to share trading.

Singapore’s UOB and ADDX exchange partner on US$37 million sustainability-linked digital bond

Singapore’s United Overseas Bank (UOB) and digital securities exchange ADDX today announced the digitization of a S$50 million (US$37 million) sustainability-linked bond using blockchain and smart contract technology. Fast facts The bond allocation was part of a S$675 million (US$496 million) sustainability-linked bond issued on Sept. 29 by Singapore-based energy provider Sembcorp Industries, through its […]

How to protect digital privacy and freedom of expression | Ep. 4

The importance of digital privacy, freedom of expression and civil liberties and how Web 3 can protect them.

Crypto miners blamed for Kazakhstan’s power shortages; Bitcoin on the up

Kazakhstan blames its newly settled crypto miners for power shortages as South Korea’s largest exchange is accused of listing faulty tokens for profits.

How should the world tackle crypto criminals and digital dangers?

Top blockchain and crypto news: US leads charge in ramping up cybersecurity. Crypto fans crow as Facebook flops. China bears down on metaverses.

Sky Mavis receives $3B valuation in funding round amid tumultuous period for Axie Infinity

Sky Mavis, the company behind leading non-fungible token game Axie Infinity, has raised US$152 million in a Series B funding round with a valuation of nearly US$3 billion, according to news outlet The Information. Fast facts Led by venture capital firm Andreessen Horowitz, Sky Mavis said it will use the funds to improve its blockchain […]

Bitcoin price crosses $50K, but market dominance continues falling

This is the second time the world’s largest cryptocurrency has hit the mark in recent months. Does that mean this price point is here to stay?

Axie Infinity revenue plunges, while AXS price breaks new ground

It’s been quite a run for the world’s leading play-to-earn game, but as its monthly revenue takes a hit, what’s in store for the future of the game?

Central and Southeast Asia among fastest-growing regions in global crypto adoption: Chainalysis

Much of the growth in the region is driven by strong grassroots adoption rates led by Vietnam, India and Pakistan, new data from Chainalysis shows

South Korean game developer, crypto exchange team up for next level gaming

Mobile game company Gamevil buys a large share of crypto platform Coinone, planning to develop blockchain-based gaming.

DeFi benefits from China ban; Gamevil increases Coinone stake

DeFi benefits from China ban while Gamevil increases Coinone stake

A crypto-trading hamster is outrunning Warren Buffett

Although scarcely the size of a human palm, Mr. Goxx is earning big returns in the virtual currency market, raking in a 16% return as of Tuesday.

After the crackdown: go underground, go along, or buy the dip?

Chinese social media has been abuzz since authorities lowered the boom on crypto. Forkast.News has been following the chatter. Here’s what they’re saying on Weibo, the Chinese equivalent of Twitter.

China crackdown legal concerns; Korea discusses virtual asset law

China crackdown legal concerns as Korea also discusses virtual asset law

South Korean banks find workaround to cash in on crypto services

NH Nonghyup is the third bank in South Korea to invest in a virtual asset custody service while they are prohibited from running their own.

Unmade in China: Beijing’s crypto cold war turns hot

Top blockchain and cryptocurrency news: Beijing’s crypto crusade comes to a head. Chinese mining caves in. Mr. Goxx reaps robust returns.

Fetch.ai, Algbra partner to bring AI-driven DeFi services to minority communities

Fetch.ai, an artificial intelligence lab based in the British city of Cambridge, today announced its partnership with Algbra, a London-based fintech platform, to bring artificial intelligence (AI) and machine learning to decentralized finance (DeFi) and the banking sector to provide minority communities with greater access to financial services. Fast facts According to a statement shared […]

China fallout hits mining; Korea digital custody competition heats up

China fallout hits mining meanwhile Korea digital custody competition heats up

Singapore securities exchange ADDX tokenizes Partners Group global private equity fund

Singapore-based digital securities exchange ADDX today announced it had tokenized an allocation to a global private equity fund by Partners Group, a private equity firm listed on the SIX Swiss Exchange. Fast facts The allocation from the Partners Group Global Value SICAV Fund is the first from a major private equity firm that has been tokenized, […]

Damage to South Korean crypto market limited despite mass closure, regulator says

South Korea’s virtual asset industry is expected to withstand major regulatory reconstruction

What does China’s crypto ban really mean? Insights from the ground

China’s hardline stance against crypto is already rippling beyond its borders. A mainland crypto insider explains the global shakeup yet to come.

Why DeFi holds the key to metaverse success

A profound shift is underway in online culture, writes Anndy Lian of BigOne Exchange. Here’s how decentralized finance might one day power the NFT and metaverse economy.

Chinese blockchain Conflux partners with GIGXPAD to tokenize real-world assets in Africa

GIGXPAD, a decentralized finance (DeFi) project based in Africa, is partnering with public blockchain network Conflux to tokenize real-world assets, according to a company statement shared with Forkast.News. Fast facts The collaboration, which marks the Chinese blockchain Conflux’s first use case in Africa, will see GIGXPAD deploying a decentralized crowdfunding platform on Conflux. According to […]

Former US Treasury advisor predicts no ‘real action’ from Fed on CBDC

While a US digital dollar is stuck at pole position, China’s digital yuan is nearing the finish line. Michael B. Greenwald of Tiedemann Advisors explains why it matters to the future global economy.  

After Evergrande, will virtual real estate be the next alternative asset class?

The property market is increasingly expensive and out of reach for today’s younger generation. Digital land sales may hit home with some buyers.

Crypto platform Cobo raises $40M to expand one-stop DeFi shop for institutions

Cobo, a Singapore-based crypto custody and asset management platform, today announced the completion of its US$40 million Series B fundraise to accelerate the rollout of its decentralized finance (DeFi) as a service (DaaS) product. Fast facts In an interview, Cobo Chief Operating Officer Lily Zhuo told Forkast.News that Cobo’s DeFi as a service (DaaS) product, […]

Why decentralization can help solve the content moderation problem | Ep. 3

Why is content moderation a cosmically huge problem, do humans need to be involved and how can the decentralized web ensure it’s a place for everyone.

What is Audius and could it be the next Spotify?

Audius is enjoying outsized buzz. Should Spotify be scared? In this Forkast.News explainer, learn how this blockchain startup could threaten music industry money — and power.

Over 90% of the world’s poor are not insured, but blockchain could soon change that

Blockchain and parametric insurance offer a bigger safety net for the world’s most vulnerable, writes Jan Stockhausen of Etherisc. Here’s how it works.

Evergrande debt woes hit crypto; Mooncakes in the metaverse

Evergrande debt woes hit crypto meanwhile Mooncakes are in the metaverse

How crypto enthusiasts in Asia are celebrating the Mid-Autumn Festival this year

From crypto-embossed mooncakes to mooncake NFTs to gatherings in the metaverse, how Asia’s crypto fans are celebrating the Mid-Autumn Festival.

Evergrande’s uncertainty rocks crypto market

Crypto investors and industry watchers are following closely the potential collapse of Chinese property giant Evergrande.

Boba network announces mainnet launch of layer 2 optimistic rollup

ETH 2.0 is expected to address transaction speeds and gas fees on the world’s number two blockchain, but a growing number of layer-2 protocols are looking to solve those issues today.

Cosmos price reaches for the stars as market remains firmly on the ground

As most of the crypto market stagnates, Cosmos has been on a tear over the weekend, gaining 35% since Saturday morning Asia time to reach an all-time high of US$44.54 this morning, according to CoinMarketCap.com. Fast facts Though it dropped slightly to US$41.72 just before press time, this jump marks the first time the ATOM […]

Crypto exchange Binance wants centralized headquarters amid regulatory heat

Under scrutiny around the world, the largest cryptocurrency exchange wants to do a better job engaging with regulators.

Avalanche’s AVAX token surges to all-time high after $230M fundraise

AVAX — the native token of the Avalanche blockchain — today surged to a new all-time high of US$68.34, according to CoinGecko data, boosted by news of a US$230 million investment into the Avalanche ecosystem. AVAX has increased by 60% over the past seven days. Fast facts Launched in September 2020, Avalanche is an open, […]

Institutional DeFi poised to become a $1 trillion industry, Blockdata says

Blockchain research firm sees explosive growth in smart contract-based products that can replace existing financial services.

Why Cardano’s Charles Hoskinson says DeFi is ‘up for grabs’

As Cardano’s Alonzo upgrade goes live, founder Charles Hoskinson of IOHK calls DeFi a ‘bubble.’ How does he think the regulation that is sure to come will reshape DeFi in the future?

How quadratic funding promotes projects for the common good

What is quadratic funding, and why is this mathematical method ideal for allocating capital for a community? Pranav Sharma of Woodstock Fund explains.

Canaan reports record revenues; Korea says no to crypto tax delay

Canaan reports record revenues meanwhile Korea says no to crypto tax delay

How you can own a (tiny) part of a Thai beachfront villa for US$150

Blockchain and tokenization are transforming how real estate can be bought and sold. Here is how one fintech startup in Asia is using digital fractionalization to raise capital.

Solana validators complete restart; Laos ends crypto ban

Solana validators complete restart also Laos ends crypto ban

Solana crashes, SOL prices tumble as network scrambles to restart

SOL had been on a tear but is now losing ground. Is Solana a victim of its own success — or does the network have deeper problems?

FTX hit by hack rumor; Korea updates crypto death note

FTX hit by hack rumor meanwhile Korea updates crypto death note

Huobi Ventures bets on DeFi and gaming in $10M GameFi fund

Huobi Ventures, the investment arm of cryptocurrency exchange Huobi, today announced the launch of a US$10 million “GameFi” fund to invest in early-stage projects that integrate blockchain gaming and decentralized finance (DeFi). Fast facts Huobi’s new GameFi fund follows the launch of its US$100 million DeFi fund in May and comes amid increasing mainstream interest […]