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Tokenization is having a breakout year, but providers must learn from the past to prevent another FTX or Celsius-level crisis, writes Philipp Pieper of Swarm.

NFT trading volumes continue to stay low but gaming NFTs gave traders some positive news this week.

Binance announced the launch of Binance Japan on Tuesday, offering 34 cryptocurrencies.

Bitcoin fell in Tuesday afternoon trading in Asia, dipping below the support level of US$29,000.

Speaking at the WebX Asia conference in Tokyo, Circle’s Singapore-based vice president of strategy and policy discusses U.S. regulation, growing pains in the crypto industry and Asia’s burgeoning role as a Web3 innovator.

If Web3 wants to be an alternative to traditional finance, the industry must make itself less vulnerable to hacks and security breaches, writes Richard Meissner.

Bitcoin and Ether fell in early Tuesday afternoon trading in Asia, with Bitcoin slipping below support at US$29,000. Ether fell more than 2%.

Tether Holdings Limited, the issuer of stablecoin USDT, released its consolidated reserves report for the second quarter of 2023 on Monday, showing consolidated assets of at least US$86.5 billion against total liabilities of US$83.2 billion. Tether reported an increase of approximately US$850 million in its excess reserves, totaling around US$3.3 billion as of June 30, the close of the quarter. 

Bitcoin and Ether slipped during Monday afternoon trading in Hong Kong along with all other top 10 non-stablecoin cryptocurrencies by market capitalization, except the BNB token, with crypto markets poised for an uneventful month ahead, industry experts told Forkast.

Bitcoin fell below US$30,000 this week, as market optimism over ETFs began to ebb. Bitcoin has to hold above US$28,000 next week to avoid further bearish momentum, industry experts told Forkast.

Bitcoin and Ether dropped in afternoon Asia trading. Dogecoin, Polygon led losses while Tron and Litecoin gained.

Blockchain technology has the potential to slash transaction fees, speed up money transfers and lift up the world’s poor. Why aren’t we doing that yet?

Bitcoin and Ether prices were largely mixed but running into the red on Friday morning in Asia, looking to end the week with losses after a period of directionless trading.

Concerns arise over Worldcoin’s free crypto. NFT market does a crabwalk. Japan’s next big thing for the metaverse.

Bitcoin and Ether slipped during Thursday afternoon trading in Hong Kong, while all other top 10 non-stablecoin cryptocurrencies by market capitalization rose, except Dogecoin.

The U.S. House Financial Services Committee passed a bill Wednesday aimed at defining whether cryptocurrencies are securities or commodities.

The Tokyo WebX Asia conference, which claimed to be the largest of its kind in Asia, wrapped on Wednesday after two days of exhibitions, crypto-themed side events, and debate on what Japan needs to do to be a central part of the future of the digital asset industry.

Cryptocurrency exchange Crypto.com and Line Xenesis — the crypto asset and blockchain-related business developer of Japanese messenger app Line — have signed a memorandum of understanding to boost crypto innovation in Asia-Pacific and the global industry. See related article: Singapore-based Crypto.com gets preparatory license to expand services in Dubai Fast facts

CyberKongz plans a shift to the Ronin blockchain alongside Axie Infinity as Sky Mavis gears up for its first PFP collection and third-party NFT mint.

Across Asia, projects dedicated to asset tokenization have become a cornerstone of the new digital economy, showing the world the technology’s possibilities.

Bitcoin traded flat on Wednesday morning in Asia as risk-aversion remained the market theme, though the token managed to hold above US$29,000.

Russian President Vladimir Putin signed a digital ruble bill into law on Monday, approving the use of its central bank digital currency for payments starting from Aug. 1. See related article: Russia delays CBDC pilot to await new law Fast facts

$1 trillion in capital is needed to fight climate change, but investment money is sitting on the sidelines, going unused. How can we close this funding gap?

Bitcoin will have to remain above US$29,500 to prevent further bearish momentum, industry experts told Forkast.

Already home to most of the world’s gamers, Asia has a rich pedigree in seeding and embracing new technologies, writes Robbie Ferguson of Immutable.

McDonald’s Hong Kong has joined the likes of Adidas, Coca-Cola, Gucci and other global brands with Thursday’s launch of its own metaverse.

The value of crypto is typically tied to its correlation with fiat money. What if tokens can be earned only through good deeds and helping others?

Bitcoin edged higher on Thursday morning, along with most other top 10 cryptocurrencies, but the token looks to have lost support at the US$30,000 line.

NAB, one of Australia’s “big four” banks, announced it is taking action to block some payments to “high-risk” cryptocurrency exchanges, as part of its new measures aimed at protecting customers from scams.

Police in China’s Shanxi Province made 21 arrests in relation to an alleged USDT money laundering scheme amounting to over US$54 million.

Change won’t happen overnight, but tokenization is a trend that will trigger seismic shifts in the financial landscape, writes Hamilton Keats of Krayon Digital.

Despite ample Ethereum holdings, traders appear less willing to invest in NFTs. Ethereum wallet growth data in 2023 suggests low NFT sales, while Ether used for NFT sales has dropped to 2021 levels.

Shinhan Bank, the second largest bank in South Korea, and SCB TechX, the technology unit of Siam Commercial Bank, the oldest bank in Thailand, announced on Tuesday that they completed a second stablecoin transaction trial on the Hedera, a public distributed ledger network. 

Bitcoin and Ether both fell below key price levels earlier but returned above as investors remained optimistic after the U.S. Securities and Exchange Commission (SEC) accepted the second Bitcoin exchange-traded fund (ETF) application for review, from asset manager Valkyrie.

China’s Zhejiang province, the home province of e-commerce giant Alibaba Group,has established a metaverse industrial association.

Bitcoin dipped under US$30,000 in early Asia trade before recovering. Ether and other top 10 cryptocurrencies fell, while NFT trading slumped.

The Financial Stability Board (FSB) published on Monday a global regulatory framework for crypto-asset activities to provide a global regulatory and supervisory foundation for crypto. The recommendations made to the G20 – the 20 leading economies of the world – are based upon the principle of “same activity, same risk, same regulation.”

As the US is engulfed in regulatory strife, Asian countries are rolling out legal frameworks that attract crypto investment, protect consumers and encourage innovation.

Bitcoin rose to trade at over US$30,300 on Monday morning in Asia, but the price fell over the weekend to around the pre-Ripple ruling level.

Scrutiny on the stablecoin’s reserves has intensified since USDT’s latest depegging scare. Paolo Ardoino, CTO of Tether and Bitfinex, delves into the composition of USDT reserves, explaining how the firm ensures dollar redemptions, irrespective of secondary market prices.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Alex Mashinsky, founder and CEO of Celsius Network, pleaded not guilty after being arrested in the U.S. Thursday on several fraud-related criminal charges.

Global warming and rising sea levels are threatening to submerge countries like Maldives and Kiribati. Can blockchain technology help avert disaster?

Europe’s first spot Bitcoin exchange-traded fund (ETF) is expected to be publicly listed this month, following a 12-month delay from the initially planned date

Top blockchain and crypto news: Standard Chartered eyes US$120,000 per Bitcoin | Another week of declines in NFT market | Sega and Line team up.

Bitcoin prices fell below US$30,500 in the past 24 hours while its trading volume has gained over 20%. Ether also fell. Cardano and BNB were the day’s biggest losers.

Stablecoin issuer Circle has reduced its workforce and investment in non-core activities.

As stores of our identity, customs and creativity, NFTs will drive Web3 adoption and become central to the new digital economy, writes Yat Siu, executive chairman of Animoca Brands.

Bitcoin trade volumes dropped in the last 24 hours but the token is holding steady above US$30,500. Binance’s BNB token posted the biggest gain while most other top 10 cryptocurrencies traded mixed.

The Seoul Southern District Prosecutors’ Office announced that it will launch the Virtual Asset Joint Investigation Unit at the end of this month.

South Korea’s FSC is requiring companies that issue or own cryptocurrencies to provide detailed crypto disclosures from 2024.

Bitcoin rose on Wednesday morning in Asia to trade above US$30,500. Ether traded flat while most other top 10 non-stablecoin tokens gained. SOL led winners.

Blur has been adding demand for specific collections by incentivizing floor NFT trading, which may have mitigated aggressive price undercutting for liquidty.

Zebedee, a New Jersey-based payments technology firm, will allow Minecraft players to earn Bitcoin by completing in-game quests.

Bitcoin breached US$31,000 level in the past 24 hours after falling back to hold above US$30,000. Ether and all other top 10 cryptos gained.

The Japanese gaming giant is currently somewhere in the Web 2.3 to 2.7 range, says co-Chief Operating Officer Shuji Utsumi.

The key to making crypto easier to use while less prone to skulduggery lies in centralizing some security and UX features, writes Hsuan Lee of Blocto.

The global cryptocurrency industry is valued at US$180 billion, with over 10,000 companies employing a total of 190,000 employees, according to a July 5 report from crypto intelligence firm K33 Research. See related article: Singapore, Thailand clarify crypto rules; NFTs become new cultural frontier Fast facts See related article: South Korea, Singapore, Thailand clarify crypto […]

All top 10 cryptocurrencies, including Bitcoin and Ether, drop over the last 24 hours while investors brace for more interest rate hikes in the U.S.

Crypto’s current turmoil in the US stands in stark contrast to other jurisdictions that are paving paths to for the industry to shine, writes Sean O’Connor.

South Korea on Monday held the first preliminary hearing for Terraform Labs co-founder Daniel Shin and seven other former employees on charges related to the collapse of the Terra-Luna crypto project.

Bitcoin dipped on Monday morning in Asia but held above the US$30,000 support level. Ether edged lower along with most other top 10 non-stablecoin tokens.

Bitcoin held above US$30,000 for most of the week but lost momentum as the SEC left investors guessing on how it will treat spot Bitcoin ETF applications.

Hong Kong, Japan, Singapore and Thailand have regulations supporting the growth of tokenization, showing the world the benefits of fractionalizing assets.

Binance Chief Strategy Officer Patrick Hillmann and Vice President for Compliance Steven Christie both confirmed they are leaving the firm.

Bitcoin fell below US$30,000 on Friday morning in Asia as traders took profits amid worries about interest rate hikes in U.S. markets.

Bitcoin, Ether fell along with all top 10 cryptocurrencies. Litecoin and Cardano led the losers. The Forkast 500 NFT index rose, but NFT mood is pessimistic.

NFT market recovers after Azuki’s Elementals mint debacle as traders report liquidity issues amidst price tumble.

Singapore-based DBS bank has introduced a “merchant collection solution” using e-CNY – China’s central bank digital currency – to allow corporate clients of DBS China to collect payments from their customers in e-CNY, and avail the automated settlement of e-CNY directly into their bank deposit account.

Australian Securities and Investments Commission (ASIC), the country’s financial services regulator, searched the local offices of Binance on Tuesday as part of an ongoing investigation of the exchange’s derivatives business, a Bloomberg report said.

For years, crypto and NFT investors enjoyed tax advantages that holders of stocks and bonds do not have, but legislation on the horizon could end that loophole.

From pay-to-play arcade video games to sales of home consoles, gaming’s evolution into peer-to-peer marketplaces is posing a new challenge to the status quo, writes Jackson Poon.