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Singapore’s Crypto Dance; Women in Web3

Welcome to The Daily Forkast – August 29, 2022 – presented by Joel Flynn. Coming up on today’s show: Crypto clarity from Singapore’s central bank. Forkast and NEAR Foundation initiative champions women in Web3. We’ll have more on those stories — and other news shaping the cryptocurrency and blockchain world — in this episode of […]

Singapore’s MAS says needs to do better job explaining crypto policy

The city-state hosted a seminar with a title that it hopes sums up its crypto approach: “Yes to digital asset innovation, No to cryptocurrency speculation.”

Bitcoin miners, investors still active in BTC despite price fluctuations

Although the price of Bitcoin fell below US$20,000 for the first time since mid-June after sliding 7% in the 24 hours following Federal Reserve Chairman Jerome Powell’s hawkish speech, the number of addresses holding over 0.1 bitcoin hit all-time-high on Sunday. This was despite mining difficulty for the crypto likely to see its third-highest ever […]

Markets: Bitcoin fails to hold above US$20,000, Ether slumps, SHIB slides

Bitcoin traded below US$20,000 and Ether fell further in Monday afternoon trading in Asia. Solana fell, along with memecoins Dogecoin (DOGE) and Shiba Inu (SHIB), with SHIB dropping below Dai and Polygon by market capitalization. See related article: Bitcoin stays below US$20,000 Monday morning after Friday Fed shock Fast facts Bitcoin traded down 0.83% in […]

Why the crypto world needs more women as leaders and investors

Women foster a better environment for innovation and are sober with money — which is what the industry needs, writes Gracy Chen of Bitget.

China exploring blockchain for energy trading

The National Energy Administration (NEA) will explore blockchain-based power trading platforms to facilitate electricity trading between self-contained power generation units and the state and national grids, according to a policy document released last Friday. see related article: The Bitcoin-energy connection intensifies Fast facts see related article: Here’s why Australia can’t use its empty deserts to mine […]

S.Korea’s science ministry announces ethical principles for the metaverse

South Korea’s Ministry of Science and ICT (MSIT) has recently unveiled the first draft of core ethical principles that are fundamental for growing and participating in the metaverse. See related article: South Korea places $185M bet on the metaverse Fast facts The science ministry’s three values for the metaverse participants are an intact self-identity, safe […]

Grayscale says XLM, ZEC and ZEN may be securities after SEC inquiry

In recent filings, the crypto asset management firm has said Stellar (XLM), Zcash (ZEC) and Horizen’s (ZEN) native cryptocurrencies may be securities. Grayscale was responding to questions from the U.S. Securities and Exchange Commission (SEC) regarding the company’s crypto trusts. See related article: Grayscale sues SEC over spot Bitcoin ETF rejection Fast facts In its […]

Markets: Bitcoin stays below US$20,000 Monday morning after Friday Fed shock

Bitcoin and Ether fell Monday morning in Asia, along with all other cryptocurrencies in the top 10 by market capitalization. The slump continues a slide over the weekend after U.S. Federal Reserve Chairman Jerome Powell rocked crypto and equity markets on Friday with comments about economic pain ahead as the Fed raises interest rates to […]

An internet of blockchains: Interoperability in a multi-chain future

Interoperability among blockchains will be central to the next phase of the technology’s evolution, says Cosmos cofounder Ethan Buchman.

Crypto regulation in focus

Crypto experts weigh in on the direction crypto regulation is headed in APAC and beyond.

Binance to help S. Korea’s Busan build first city-backed exchange

Global crypto exchange Binance and the city of Busan in South Korea announced a memorandum of understanding (MOU) on Friday to promote the growth of the blockchain ecosystem in the city and the development of the Busan Digital Asset Exchange. See related article: Issue tokens later for growth, not for initial fundraising, advises Binance chief […]

India financial crime-fighters search CoinSwitch crypto exchange

India’s Enforcement Directorate (ED) has searched five premises connected with cryptocurrency company CoinSwitch on alleged money laundering charges, according to a media report. See related article: India’s WazirX says it has no-tolerance policy on illegal activities Fast facts The country’s central agency fighting financial crime conducted searches at residences of CoinSwitch directors and the official […]

Huobi-incubated Chinese NFT platform iBox ends international operations

Its operations in mainland China are continuing as normal.

Markets: Ethereum, Ethereum Classic lead crypto gains as Bitcoin posts modest gains

Ethereum and Ethereum Classic headlined the day’s top gainers among the crypto top 100 while Bitcoin traded sideways during early Friday morning trading in Asia. The total crypto market was up 1.3% to US$1.04 trillion while U.S. investors remain shaky as they await guidance on possible interest rate rises from the Federal Reserve. See related […]

All about ETH; Civic tech’s blockchain role

The final timeline for the ETH merge has been announced. Meanwhile, we take a deeper dive at blockchain and civic administrations.

Shanghai Data Exchange launches untradeable NFTs

The Shanghai Data Exchange has debuted blockchain-based digital assets without allowing secondary trading, a day after the exchange began digital asset trading on Wednesday.  See related article: Ant Group, JD.com, Tencent pledge to resist speculation of ‘digital collectibles’ Fast facts See related article: Beijing, Hengqin ramp up metaverse amid struggling economy

Markets: Bitcoin, Ether bounce back; XRP climbs, Ether Classic jumps, Ankr gains on staking

Bitcoin and Ether staged a rebound Thursday afternoon in Asia, with most other tokens in the top 10 cryptocurrencies by market capitalization following them higher in a tentative recovery from last week’s slump. See related article: Markets: Bitcoin treads water, Ether Classic gets a bump, Cosmos gains on Kujira news Fast facts Bitcoin gained 1.97% […]

Alleged Tornado Cash Developer Alexey Pertsev to stay in jail

Alleged Tornado Cash developer, Alexey Pertsev, was accused of facilitating money laundering through the now-sanctioned crypto mixer. Pertsev will stay in jail for at least another 90 days, a judge in the Netherlands ruled on Wednesday. The developer has not been officially charged with any crime. See related article: Tornado Cash arrest heralds storm season […]

Crypto miners plan to fork Ethereum, will it make a difference to the Merge?

Ethereum has by far the most developers from DeFi projects to NFTs so how are they expected to respond to a plan by Etheruem miners to fork the network, a move miners argue is needed to stay in business.

Crypto trader donates US$100,000 to YouTuber fighting defamation suit

Crypto trader Cobie has donated US$100,000 to YouTuber Erling Mengshoel “Atozy” to fight a lawsuit filed against him by Ben Armstrong “BitBoy Crypto”. See related article: Crypto ‘finfluencers’ are attracting a new following — of regulators Fast facts In a Twitter post, Atozy said he was being sued by BitBoy Crypto for a video Atozy […]

Tether says didn’t freeze sanctioned Tornado Cash addresses so as to not interfere in investigations

Tether Holdings Ltd.,the issuer of USDT, the world’s largest stablecoin by market capitalisation, Wednesday said freezing the sanctioned addresses might interfere with ongoing investigations despite no clear instruction to do so by law enforcement. See related article: Bad actors in North Korea, Russia send record-high funds to crypto mixers Fast facts The U.S. Treasury Department’s […]

Markets: Bitcoin treads water, Ether Classic gets a bump, Cosmos gains on Kujira news

Bitcoin and Ether were little changed in Asia on Thursday morning, though Ether Classic rose. Solana and Cardano lost ground along with most other top 10 tokens by capitalization, though the global cryptocurrency market cap edged up 0.23% to US$1.03 trillion. Investors across all financial markets remain on edge about the direction of interest rates […]

Huobi warning issued; Singapore’s blockchain aims

Huobi in hot water after being put on investor alert list. Meanwhile, we take a closer look into crypto regulation in Asia.

Tornado Cash arrest heralds storm season for crypto mixers

Top blockchain and crypto news: Tornado Cash, mixer crash. Cardano’s Vasil vulnerabilities. Canaan earnings buoy expansion plans.

Markets: Dogecoin still in the dog house; Bitcoin, Ether make up some ground

Bitcoin and Ether traded higher in Wednesday afternoon trading in Asia, as the two biggest cryptocurrencies in the top 10 by market capitalization made up some marginal ground from the recent slump. Dogecoin fell, marking a 20% loss over the past seven days. See related article: Markets: Bitcoin, Ether gain with most of crypto top […]

Ukraine seizes funds from crypto wallet funding Russian forces

The Security Service of Ukraine (SSU) seized and blocked a cryptocurrency wallet used to fund the Russian military campaign in the country. The agency is working on tracking the funds and transferring them under Ukrainian jurisdiction, according to the SSU. See related article: Vitalik Buterin says he used Tornado Cash to donate to Ukraine Fast […]

OSL Digital placed a ‘tokenized bond’ in July — what’s next for blockchain securities?

Financial instruments sold and traded on a public blockchain could be the next big thing, so Forkast caught up with OSL to hear about what’s planned.

Nike becomes highest-earning brand for NFT sales

Footwear giant Nike’s non-fungible token (NFT) projects have brought the company’s revenue to US$185.34 million, more than seven times that of luxury fashion brand Dolce & Gabbana, which ranks second in NFT profits, according to the data published on crypto analysis platform Dune. See related article: Touchdown: How ex-NFL players are helping college athletes score […]

Beijing, Hengqin ramp up metaverse amid struggling economy

Following Shanghai’s plan to develop its metaverse industry, additional local Chinese governments are adding the metaverse to their economic blueprints. Two recent plans come from Beijing’s Tongzhou District and Hengqin near neighboring Macau, just as some of China’s tech companies are shrinking their businesses to face an economic downturn. See related article: Shanghai sees its […]

Coinbase hit with lawsuit over allegedly poor security

U.S.-based cryptocurrency exchange Coinbase has been hit with a class action lawsuit last week over claims the firm allegedly failed to properly secure customers’ accounts, leaving them vulnerable to unauthorized activity. See related article: Coinbase under investigation by SEC, quarterly report reveals Fast facts Filed in the U.S. District Court for the Northern District of […]

Philippines central bank approves two more digital banks

A total of six digital banks are now allowed to operate in the Philippines after the Bangko Sentral ng Pilipinas (BSP) issued Certificates of Authority to UnionDigital Bank, Inc. (UDB) and GoTyme Bank Corporation (GTYME). Read more: Philippine central bank governor says no plan to ban crypto BSP earlier authorized four digital banks namely Tonik […]

Markets: Bitcoin, Ether gain with most of crypto top 10; BNB slips, U.S. equities flat

Bitcoin gained along with most other top 10 tokens by market capitalization in early morning trading in Asia, though Ether was the pace leader with the larger climb. U.S. equities were little changed overnight. See related article: Markets: Bitcoin edges up, Ether posts biggest gain among top 10 tokens Fast facts Bitcoin added 0.6% to […]

Bitcoin has been mounting in DBS Digital Exchange in volatile June

Bitcoin custodied by Singapore-based DBS Digital Exchange (DDEx) grew by 30% from April 30 to June 30 this year while Ethereum under custody grew by 3% during the same period.  See related article: DBS Bank slams brakes on retail crypto trading Fast facts Bitcoin bought on DDEx in June was nearly four times that of […]

NEAR Foundation, Forkast shortlist 20 Women in Web3 for inaugural Changemakers list

Ten winners will be selected by public vote, which will end on August 29.

Markets: Bitcoin edges up, Ether posts biggest gain among top 10 tokens

Bitcoin made up some ground, while Ethereum posted the largest gain among the top 10 coins by market capitalization in Tuesday afternoon trading in Asia. Dogecoin was the second-largest gainer among the top 10. See related article: Markets: Bitcoin, Ether mixed; Solana hit six-week low overnight, Dogecoin dips Fast facts Bitcoin gained 0.62% in the […]

Tencent gets patent nod to use blockchain for missing persons’ notices

Chinese tech giant Tencent has received a patent for blockchain-based notices for missing persons, as the tech firm continues to explore blockchain applications despite shutting one of its non-fungible token (NFT) platforms recently. See related article: Tencent’s Huanhe allows NFT refunds, halts further sales Fast facts Tencent’s design could enhance the efficiency of publishing such […]

Hodlnaut owes US$200 mln debt to 17,000 creditors: report

The Singapore and Hong Kong-based Hodlnaut has a funding gap of about US$193 million, and potentially 17,513 creditors, crypto media outlet The Block reported citing an affidavit the troubled crypto lender filed with the court last week. See related article: India authorities freeze Vauld exchange’s assets worth $46.5 mln Fast facts See related article: Hodlnaut […]

Celsius ‘withhold’ account depositors lawyer up to seek claims

Another group of claimants against bankrupt crypto lender Celsius Network LLC is banding together to retain legal representation and seek to form an ad hoc group in bankruptcy hearings to get their money back. See related article: Celsius says it owes its users US$4.72B amid a US$1.19B balance sheet deficit Fast facts See related article: […]

India blockchain forum plans to chart future with governments, regulators

Stakeholders in India’s blockchain space have created a new forum with more than 40 influencers to liaise with governments and regulators for blockchain and Web 3.0 adoption in the country. See related article: India’s latest tax assault on crypto exchanges starts Friday Fast facts According to a local media report, India Blockchain Forum is setting […]

Problems with tokenizing real estate and how to fix it

Real estate as an investment is not very liquid, composable or accessible, writes Joel Lin of CitaDAO. Can tokenization and DeFi transform this market?

Markets: Bitcoin, Ether mixed; Solana hit six-week low overnight, Dogecoin dips

Bitcoin and Ether were mixed Tuesday morning in Asia, while Solana led the downturn in the rest of the cryptocurrencies in the top 10 by market capitalization. Most of the Top 10 are seeing double-digit price declines over the last seven days.   See related article: Markets: Bitcoin, Ether dip; DOGE, SHIB slide; Jackson Hole, […]

Crypto volatility returns; Big names investing in blockchain

BTC and ETH hit by volatility, while big players start investing in blockchain despite market wobbles.

If successful, Ethereum’s Merge will cause a sea change in ETH supply and value

The Merge, one of this year’s biggest crypto events, is now due to happen next month. Why is it so hotly anticipated — and feared?

Liquidity crunch may loom for Bored Ape-collateralized loans as floor price slides

Not every NFT collection is facing the same issue, but due to the collection’s outsized influence it could have a significant impact on the rest of the Ethereum NFT ecosystem.

USDC whales leave, trading volume soars

The percentage of stablecoin USD Coin (USDC) supply held by the top 1% addresses dropped to a 22-month low on Monday, while USDC average trading volume in seven days surged to an all-time high on the same day, according to crypto data dashboard Glassnode. See related article: Vitalik Buterin says he used Tornado Cash to […]

FTX revenue grew 1,000% in 2021 amid booming crypto market: SBF

FTX chief executive officer Sam Bankman-Fried (SBF) has confirmed media outlet CNBC’s report that FTX’s revenue grew 1,000% in 2021 on the back of a booming crypto market and a host of acquisitions.  See related article: Sam Bankman-Fried lashes out at Voyager for rejecting FTX’s proposal  Fast facts In a Twitter post, SBF said, “Fwiw […]

Creditors object to bankrupt crypto lender Voyager paying out bonuses

Creditors of cryptocurrency lender Voyager Digital Holdings are objecting to the company’s request for funds to payout bonuses to staff, saying the employees are already “well-compensated.” See related article: Court allows Voyager Digital to return US$270 mln in custodial account to customers Fast facts The creditors’ objection came after Voyager, which filed for Chapter 11 […]

Markets: Bitcoin, Ether gain; BNB best performer among top 10 tokens

Bitcoin and Ether rose with most of the top 10 cryptocurrencies by market capitalization in Monday morning trading in Asia. The gains follow a flash crash last Friday afternoon that dragged the world’s leading cryptocurrency below US$21,000 on Saturday for the first time in almost a month. Bitcoin is still down about 12% in the […]

Keeping it real: How metaverses connect to the physical world

Metaverses are more than gamified virtual spaces — they’re a different way to live real life, says Metapolis cofounder Sandra Helou.

Merge prep rush; Scams down, hacks up

CME prepares to launch ETH options as the merge gets closer, Meanwhile, a Chainalysis says crypto scams are down.

Hodlnaut exploring option to allow withdrawal of deposits with interest before closing accounts

The Singapore and Hong Kong-based crypto lender said it was exploring options to allow users to withdraw deposits at an undisclosed discount rate, while seeking Singapore court approval to appoint a judicial manager for the company, according to a post on its blog on Friday. See related article: How a market slump may be helping […]

Markets: Bitcoin below $22,000; Ether extends decline; Cardano, Solana, DOGE slide

Bitcoin fell below US$22,000 in Friday afternoon trading in Asia as investors after a nervous week seemed to be trimming portfolios ahead of the weekend. Ethereum fell back despite the buzz around its upcoming blockchain Merge. Cardano, Solana, Dogecoin and Polkadot dropped over 10% in the past 24 hours. See related article: Bitcoin, Ether fall […]

Who fared worse in cryptocurrency slump: criminals or legitimate users?

Report by Chainalysis says both use cases fell in dollar terms in first half of year and while legitimate usage by value far exceeds criminal, illicit activities fell by a much narrower margin.The report attempts to explain why.

Crypto exchange Gemini launches MATIC, ETH, SOL and DOT staking

The New York-based crypto exchange said its staking service will allow customers to stake their cryptocurrencies and receive rewards within their Gemini account.  See related article: Gemini sued over US$36 mln Bitcoin and Ethereum hack Fast facts Gemini Staking will be available for users across the U.S. (excluding New York), Singapore, and Hong Kong, the […]

ETHPoW token price drops to all-time-low on Thursday

ETHPoW, the token that will run on a potential Ethereum PoW fork, fell to an all-time low of US$50.36 on Thursday, down 64% from its Aug. 2 peak, according to CoinMarketCap.  See related article: Chandler Guo tells why he is the man who would hard fork Ethereum Fast facts The ETHPoW token is currently only […]

Bitcoin, Ether fall in broad crypto pull back; memecoins reverse gains

Bitcoin and Ether continued their weekly slide, while all other top 10 cryptocurrencies by market capitalization fell in Friday morning trading in Asia. The world’s number one cryptocurrency fell below US$23,000 for the first time in over a week. Investors remain tentative about macroeconomic trends – inflation and interest rates in the U.S. and a […]

EU seeks to limit banks’ crypto exposure

European Union (EU) banks with exposure to highly volatile cryptocurrencies like Bitcoin should face higher capital requirements, according to a proposed amendment to a European financial services law.  See related article: Bitcoin miner Stronghold to return mining rigs to cut debt; shares plunge as losses widen Fast facts Crypto assets like Bitcoin, which are considered […]

Confusion from US regulators; Markets hit by ‘vibe-flation’

The FDIC tries to deter banks from doing business with crypto firms. Meanwhile. Genesis CEO steps down amidst reshuffle.

Coinbase would shut down ETH staking under regulatory threat, says CEO

Responding to a hypothetical scenario on Twitter, Coinbase CEO Brian Armstrong said that the company would shut down its Ethereum staking services to preserve the blockchain network’s integrity, in the event of a regulatory crackdown. See related article: BlackRock, Coinbase partner to extend crypto trading to institutional investors Fast facts The hypothetical question was posted […]

Markets: Bitcoin, Ether fall; Solana, DOGE extend their declines

Bitcoin and Ether traded lower in Thursday afternoon trading in Asia. Solana saw the largest fall among the top 10 tokens by market capitalization, followed by Dogecoin. Asia equity markets were softer after minutes from the U.S. Federal Open Market Committee showed Fed Reserve officials saw little sign of inflation slowing. See related article: Markets: […]

Chandler Guo tells why he is the man who would hard fork Ethereum

In a Q&A, the former cryptocurrency miner explains his methods for trying to pull together a band of Ethereum mining brethren in order to keep their rigs running. The idea started at a party at his house.
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BAYC NFT sells for 777 Eth, worth US$1.4 million, amid crypto downturn

Non-fungible token (NFT) Bored Ape Yacht Club (BAYC) #5383 sold for 777 Eth on Wednesday, worth some US$1.4 million, amid a crypto downturn. See related article: Bored Apes — NFTs take over the planet | NFT Moments in History Ep. 11 Fast facts Following the sale, the floor price for BAYC on Thursday sank its […]

Despite crypto downturn, illicit activity outpaces legitimate uses

Criminal activity in cryptocurrency was more resilient than legitimate uses despite the downturn in the crypto market in 2022, according to a new report by blockchain data aggregation firm Chainalysis. See related article: Chainalysis says $2 bln stolen in cross-chain bridge hacks this year, more expected Fast facts Illicit transaction volumes are down just 15% […]

Markets: Bitcoin, Ether decline; memecoins fall back, XRP holds gains

Bitcoin and Ether fell in Thursday morning trading in Asia, along with all other cryptocurrencies on the top 10 list by capitalization, with the exception of XRP.  U.S. equities were weaker overnight as Federal Open Market Committee minutes released on Wednesday indicated interest rates in the U.S. will continue rising until inflation is brought under […]

Eqonex closes crypto exchange as market woes prompt cost-cutting

Top blockchain and crypto news: Eqonex shutters exchange operation. Huobi denies sale report. Taiwan beefs up cyber defenses.

Fed’s crypto bank guidelines; Coinhako planning expansion

The Federal Reserve issues new crypto banking guidelines. Meanwhile, Singaporean crypto exchange Coinhako plans an expansion.

Markets: Bitcoin, Ether little changed; DOGE, XRP climb in Asia afternoon trade

Bitcoin and Ether traded little-changed in Wednesday afternoon trading in Asia. Dogecoin (DOGE) and XRP both gained and were the biggest movers among the top 10 coins by market capitalization. See related article: Markets: Bitcoin, Ether fall; Dogecoin outperforms, Cardano edges higher Fast facts Bitcoin was trading at US$23,829, off 0.77% in the past 24 […]

Coinhako crypto exchange sees Asia expansion opportunity as rivals stumble

Cross currents: BlackRock Inc, the world’s biggest money manager, is talking about Bitcoin opportunities amid a market slump. Singapore’s Coinhako looks to have similar ideas.

Top firms invest US$6B in blockchain startups: Blockdata research

Forty top corporations invested about US$6 billion into blockchain startups between September 2021 and June 2022, according to an analysis by blockchain data platform Blockdata. As some investments involved participation from multiple investors, Blockdata said it was not clear how much each company invested in one particular project. See related article: Korea Blockchain Week points […]

Jump Crypto to revamp core part of Solana’s infrastructure

Jump Crypto, the crypto arm of high-frequency trading firm Jump Trading Group, announced on Tuesday plans to develop a new open source validator client for the Solana network to boost throughput and reliability. See related article: Solana validators complete restart; Laos ends crypto ban Fast facts Jump Crypto will “propose a major upgrade to Solana’s […]

Huobi to end crypto derivatives trading in New Zealand

Seychelles-based cryptocurrency exchange Huobi Global will cease crypto derivatives trading services in New Zealand from Tuesday next week — only months after launching in the country – according to a company blog post. See related article: Huobi closes Thai crypto unit, regulator revokes license Fast facts From Aug. 23, Huobi will classify New Zealand as […]