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Markets: XRP bounces back, Bitcoin stuck under US$19,000, Ether loses more ground post-Merge

Bitcoin traded below US$19,000 Thursday afternoon in Asia after dropping below that resistance level earlier, following the U.S. Federal Reserve’s decision to raise interest rates by 75 basis points. Ether also fell. XRP was the biggest gainer among the 10 largest coins by market capitalization, while most other top 10 tokens were little changed. See […]

Philippine central bank sees stablecoins as key to make payments more efficient

Bangko Sentral ng Pilipinas (BSP) Director Mhel Plabasan said the central bank has adopted a flexible approach on the digital assets.

Cryptocurrency lobby group gets court approval to weigh in on SEC vs Ripple’s XRP lawsuit

Cryptocurrency lobby group Chamber of Digital Commerce (CDC) has received approval from a U.S. federal court to be an amicus curiae (Latin for friend of court) in the lawsuit that the U.S. Securities and Exchange Commission (SEC) filed in 2020 against Ripple Labs. See related article: Ripple objects to SEC’s relief suggestion in XRP lawsuit […]

Huobi Technology considers name change

Crypto exchange Huobi Global’s Hong Kong-listed sister company, Huobi Technology Holdings, is proposing renaming the group to “New Huo Technology Holdings Limited,” while its sister company, the crypto exchange Huobi Global, is reportedly seeking a buyer for the majority of its company. See related article: Huobi-incubated Chinese NFT platform iBox ends international operations  Fast facts […]

‘Act smart, but act fast’: Industry experts say there’s no time to waste addressing stablecoins, CBDCs in Asia

Panelists at Forkast’s “Crypto Rising: CBDCs & Stablecoins: The Asia Perspective,” co-hosted by the Crypto Council for Innovation (CCI), said tackling the technology requires international cooperation and flexibility to not stifle innovation.

Binance stablecoin conversion controversial, but what does it mean for users?

Binance generated controversy when it told customers it would convert their holdings in three stablecoins to its own stablecoin. Some analysts say the concerns are overblown, others disagree.

South Korea seizes US$184 mln in crypto towards unpaid taxes

Cryptocurrency assets seized from alleged tax delinquents in South Korea in 2021 and 2022 amounted to nearly 260 billion Korean won (US$184.3 million), according to local media reports. See related article: South Korea’s taxman keeps circling crypto – airdrops look to be the next target Fast facts The highest amount of crypto seized from a […]

Bitmain cuts mining rig prices amid crypto bear market, energy costs

Bitmain announced on Tuesday that it is cutting the price of one of its latest mining rig models, the S19 Pro, to US$19 per terahash (TH), which is 41% less than the price index shown on the mining rig data website Hashrate Index. See related article: US raises red flag on crypto mining, concern over […]

Naver and LINE launch NFT platform for K-pop fans

South Korea-based internet giant Naver Corp. launched its non-fungible token (NFT) platform, NOW.Drops, with LINE NEXT on Wednesday. The platform will let K-pop music fans create customized NFTs. See related article: Naver’s Zepeto metaverse starts blockchain initiative with Solana Fast facts NOW.Drops allows users to mint NFTs of their favorite musical acts that they crop […]

FTX in talks to raise US$1B in fundraising round: CNBC report

Sam Bankman-Fried‘s FTX is in talks with potential investors about a funding round that would keep the company’s valuation in line with prior financing at the start of the year, CNBC reported Wednesday.  See related article: Binance and FTX lead bidding for bankrupt Voyager Fast facts FTX Trading Ltd.’s latest funding round in January raised […]

Markets: Bitcoin price falls below US$19,000, Ether slumps, XRP drops on lawsuit delay

Bitcoin fell below US$19,000 in Thursday morning trading in Asia after briefly moving above that resistance level overnight as investors digested the U.S. Federal Reserve decision to raise interest rates by 75 basis points, or in line with expectations. All the top 10 cryptocurrencies by market capitalization lost ground, with Ether the biggest loser.  See […]

Bitcoin recovers from steep drop after Fed hikes rates by 75 basis points

Bitcoin, the largest cryptocurrency by market capitalization, rose more than 3% on Thursday to recover from a sharp drop to under US$19,000 after the Federal Open Market Committee said it would raise interest rates by 75 basis points, or in line with market expectations, to rein in inflation. See related article: Digital dollar takes another […]

Why YOU should back Ethereum’s Fork

The SEC’s plans for POS regulation could make Ethereum’s POW fork more attractive. Chinese miner Chandler Guo joins us to talk about it.

Terra chief faces arrest as South Korea ramps up global manhunt

Top blockchain and crypto news: Where is Do Kwon hiding out? Ethereum Merge mood fading fast. China’s digital yuan draws scrutiny Down Under.

Markets: XRP only gainer among top 10 cryptos as US rates decision looms

Bitcoin remained below the US$19,000 level in Wednesday evening trading in Asia as the top 10 cryptocurrencies by market capitalization, with the exception of XRP, traded lower. See related article: Ripple objects to SEC’s relief suggestion in XRP lawsuit Fast facts Bitcoin fell 2.2% in the past 24 hours to trade at US$18,906 at 4:30 […]

India’s finance minister sees 46% growth in blockchain technology use in next few years

While India’s central bank has adopted a hostile stance towards cryptocurrency, the South Asian nation has recognized the potential for blockchain technology.  See related article: Women in India start to plug into cryptocurrency trading Fast facts Use of blockchain technology is going to rise by about 46% in the next few years, India’s finance minister […]

Ripple objects to SEC’s relief suggestion in XRP lawsuit

Ripple Labs Inc. has objected to the U.S. Securities and Exchange Commission’s suggestion that it may seek additional time and pages if other amici curiae (Latin for friends of the court) submit briefs, as the lawsuit the SEC filed in 2020 against Ripple drags on. See related article: SEC, Ripple seek summary judgment in attempt […]

China to expand digital yuan trials within its most populous provinces

The entirety of the provinces of Guangdong, Jiangsu, Hebei and Sichuan will be piloting the e-CNY by end 2022, says central bank official.

JPMorgan Chase executive says crypto usage for payments decreasing

Speaking in an interview with Bloomberg Television on Tuesday, JPMorgan Chase & Co.’s global head of payments Takis Georgakopoulos said that demand for cryptocurrencies as a payment method has seen a drastic decline in the past six months.  See related article: JPMorgan, LRC bet on blockchain startup Ownera in US$20 mln Series A Fast facts […]

China says blockchain patent applications make up 84% of world’s total

China’s Ministry of Industry and Information Technology (MIIT) claimed on Tuesday in a news conference that the country accounted for more than 84 percent of the world’s blockchain patent applications, despite the country’s ban on cryptocurrencies. See related article: Ant Group and Tencent obtain the most blockchain patents in China: report Fast facts See related […]

Binance and FTX lead bidding for bankrupt Voyager

Crypto exchanges FTX and Binance have reportedly made the highest bids on bankrupt crypto lender Voyager Digital Ltd. and its assets, but neither offer had been accepted as of Tuesday, according to a Wall Street Journal report.  See related article: Sam Bankman-Fried lashes out at Voyager for rejecting FTX’s proposal  Fast facts The WSJ article […]

Markets: Bitcoin price falls below US$19,000, XRP gains on SEC lawsuit developments, Ether post-Merge slide continues

Bitcoin fell below the US$19,000 resistance level for the second time in a week in early Wednesday trading in Asia. Ether and most other tokens in the cryptocurrency top 10 by market capitalization lost ground. XRP was the exception, gaining on news the token’s issuer, Ripple Labs Inc, and the U.S. Securities and Exchange Commission […]

Binance’s crypto keys; What’s after the Merge?

Binance takes the headlines today as they lead the funding of blockchain security specialists Salus Security.

Alameda Research to repay US$200 mln crypto loan to Voyager Digital

Sam Bankman-Fried’s trading firm Alameda Research will repay around US$200 million in cryptocurrencies to bankrupt digital assets broker Voyager Digital by Sept. 30. See related article: Voyager Digital issues notice of default to 3AC Fast facts Alameda owes Voyager about 6,553 Bitcoins, more than 51,000 Ether and smaller amounts in various tokens including USDC, DOGE […]

India’s CoinDCX Twitter handle hacked to peddle XRP

CoinDCX, India’s first crypto unicorn, asked users not to click on any link or messages from its official Twitter handle as the company lost control of the social media account following a hack. See related article: How Twitter hackers social-engineered their way into VIP accounts to shill for bitcoin Fast facts “We are in the […]

Hong Kong needs at least two years to build wholesale CBDC: HKMA

The Hong Kong Monetary Authority (HKMA), the city’s de-facto central bank, Tuesday said it concluded its market consultations on technical and policy grounds towards the city’s central bank digital currency (CBDC), estimating at least two to three years to build the wholesale system.  See related article: Hong Kong flirts with e-HKD as it talks of […]

Markets: Dogecoin reenters top 10 tokens by market cap, Bitcoin and Ethereum up

Crypto markets continued their recovery streak in Tuesday evening trade in Asia with Bitcoin rising over 4% in the past 24 hours to be the second-highest gainer among the top 10 tokens by market capitalization, only behind XRP. Despite a 4.3% recovery, Ethereum was still down over 20% over the past seven days in the […]

South Korea unlikely to push out crypto regulation before the U.S., authority says

South Korea’s top financial watchdog Monday said it is difficult for the country to establish laws overseeing the cryptocurrency industry in the country ahead of a common global regulatory framework as cross-border enforcement would be a key determinant of effectiveness.

US Treasury seeks public opinion on digital asset risks

The U.S. Department of Treasury is seeking public opinion on the “responsible development of digital assets” and has requested comments from the general public on national security and illicit financing risks posed by digital assets.  See related article: Singapore’s central bank says cryptocurrencies have ‘no fundamental value’ Fast facts Comments can be submitted until Nov. […]

Binance leads funding round in blockchain specialist Salus Security

Binance Labs, the incubator and investment arm of the world’s largest cryptocurrency exchange, said it invested an undisclosed amount in Salus Security, which provides blockchain smart contract audits and automated smart contract vulnerability detection. See related article: Binance’s US$7.5 billion woman sees plenty of promise in bear markets Fast facts Binance Labs said in a […]

Australia Senator says China’s CBDC may threaten national security

Amid the worsening relationship with China, one Australian Senator is trying to address possible national security concerns that may arise from Beijing’s Central Bank Digital Currency project.

India’s WazirX to delist USDC, apply auto convert to Binance’s stablecoin

WazirX, India’s largest cryptocurrency exchange by trade volume, said it has stopped deposits of stablecoins USDC, USDP and TUSD, and will automatically convert users’ existing balances to Binance’s USD-backed stablecoin BUSD at a 1:1 ratio.  See related article: India’s WazirX introduces new ‘learn and earn’ campaign with The Sandbox Fast facts WazirX will begin the […]

South Korea and Meta to ramp up metaverse safety

South Korea’s official media regulation agency met with Andy O’Connell, vice president of product policy and strategy of Meta Platforms, Inc. on Monday to discuss ways to boost user protection on the metaverse. See related article: South Korea will not rule the metaverse with game laws, science ministry says Fast facts Ahn Hyoung-hwan, the vice […]

Markets: Bitcoin back above US$19,000 while Ether posts strongest gains since post-Merge

Bitcoin rose above US$19,000 in early Tuesday morning trading in Asia after falling below that resistance level overnight for the first time in almost two weeks. Ethereum showed signs of shaking off the post-Merge slump as it gained along with the rest of the top 10 cryptocurrencies by market capitalization. See related article: Ethereum’s PoW […]

Do Kwon says “not on the run” as S.Korea calls for Interpol’s red notice

South Korean prosecutors are in the process of requesting Interpol to issue a red notice for Terraform Labs Pte. Ltd. Chief Executive Officer Kwon Do-hyung, also known as Do Kwon, according to media reports.  See related article: Terra CEO Do Kwon faces ‘illegal alien’ status in Singapore as Seoul cancels passport Fast facts An Interpol […]

Could blockchain save the planet?

Could blockchain – despite it’s high carbon emissions, also be part of the fight against climate change? We’ll take a closer look at that in this episode of The Daily Forkast.

Hong Kong encourages firms to bring STO proposals to the SFC

Hong Kong has invited firms interested in security token offerings (STO) to share their proposals with the Securities and Futures Commission (SFC), the regulator’s Fintech department head Elizabeth Wong told digital assets industry representatives last week, according to a press release published on Monday.  See related article: Hong Kong regulator: ramp up oversight of virtual […]

Markets: Cardano, Solana, Dogecoin and Polkadot bear brunt of market slump

The global crypto market cap for cryptocurrency dropped over 7% in Monday evening trade in Asia, nearing US$900 billion. Bitcoin fell to a 24-hour low of US$18,390.32 at 5 pm Hong Kong time, while Cardano led losses within the crypto top 10 by market capitalization, followed by Ethereum.  See related article: Markets: Bitcoin back below […]

SEC, Ripple seek summary judgment in attempt to speed up XRP lawsuit

The argument centers around if Ripple’s XRP sales were offerings of unregistered securities.

Why DeFi interest rate swaps may be the next frontier of finance

Already a big part of global finance, interest rate swaps can be a boon for DeFi — if it can overcome these challenges, writes Simon Jones of Voltz Labs.

Ethereum’s PoW forks competing for market share see significant selloff

These PoW forks were created to keep revenue flowing for Ethereum’s miners, but plummeting prices put that plan at risk.

Aptos offers US$1 mln bug bounty for catching critical vulnerabilities

Aptos, a public chain launched by former members of failed Meta stablecoin project Diem, announced Friday a prize of up to US$1 million to encourage developers to find major vulnerabilities in the blockchain network, as the launch of the highly-anticipated blockchain fell slightly behind schedule. See related article: Binance makes additional investment in Aptos  Fast […]

India’s WazirX introduces new ‘learn and earn’ campaign with The Sandbox

WazirX, India’s largest cryptocurrency exchange by trade volume, has introduced a “learn and earn” campaign with The Sandbox, one of the biggest Ethereum-based metaverse game platforms.  See related article: WazirX launches India’s first NFT marketplace Fast facts The campaign started Sept. 19, and the top five winners will get free passes for The Sandbox’s recently […]

The world is still far from mass crypto adoption, says Vujinovic of OGroup

Maja Vujinovic, founder and CEO of OGroup, a financial services company with a focus on artificial intelligence and blockchain, spoke to Forkast about the future of digital assets at StartmeupHK Festival 2022.

Binance’s US$7.5 billion woman sees plenty of promise in bear markets

Yi He, who manages the multibillion-dollar portfolio at Binance Labs, is looking to invest in Web 3.0 projects from infrastructure, application and data to analytics and security.

Cross-chain DOT staking dApp wins Polkadot’s North America hackathon

A decentralized application (dApp) “XCM DOT Autostake” developed by a team called Entity 54 won the grand prize at Polkadot’s North American hackathon, Polkadot announced on Sunday. See related article: Polkadot Defi hub Acala burns some 1.3 bln mis-minted stablecoins Fast facts See related article: Polkadot to hold first hackathon centered in Latin America 

Markets: Bitcoin back below US$20,000 while Ether leads losses in crypto top 10

Bitcoin fell back below US$20,000 in early Monday morning trading in Asia after breaching that support line overnight, while Ethereum led the losses in the crypto top 10 by market capitalization, which were all trading lower. See related article: Markets: Bitcoin dips below US$20,000; Ether, ETC fall post-Merge Fast facts Bitcoin fell by 3.4% in […]

Owning a piece of history: How NFTs can help maintain our collective memory

Non-fungible tokens aren’t merely novelty items — they can play a valuable a role in preserving history and culture, says Artifact Labs chief Gary Liu

Will Ethereum ever surpass Bitcoin? This is “The Flippening”

Many believe Ethereum is destined to overtake Bitcoin’s dominance in an event known as “The Flippening.” Find out if Ethereum’s reign is inevitable in this Forkast explainer.

Digital dollar takes another step in White House’s “first ever” digital assets framework

The Fed will continue its CBDC research as Republicans pressure the central bank to clarify its stance on digital dollar issuance.

Busan’s big blockchain plans

Welcome to The Daily Forkast – September 16, 2022 – presented by Joel Flynn. Coming up on today’s show: Could Busan be the next crypto hub? Will help from Binance and FTX finally establish South Korea’s second largest city as the crypto haven it’s trying to be? We’ll have more on those stories — and […]

For South Korea, making Do Kwon pay for his alleged crimes easier said than done

A member of the prosecuting team tells Forkast additional charges are likely to be leveled against Terraform Labs Chief Executive Officer Do Kwon following this week’s issuance of an arrest warrant for violating the country’s Capital Markets Act.

Binance makes additional investment in Mo Shaikh’s blockchain startup Aptos

Binance Labs, the venture capital arm of world’s largest cryptocurrency exchange, has made a follow-on investment in Aptos Labs, as a part of a broader fundraising round by the blockchain startup. See related article: Aptos raises US$150 mln from FTX Ventures, Jump Crypto Fast facts Aptos will use the funds to expand its team and […]

Markets: Bitcoin price holds under US$20,000; Ether falls nearly 10%

Bitcoin continued trading below the US$20,000 support line in Friday afternoon trading in Asia. Ether fell in a “sell the news” mood after the Ethereum network completed the network Merge on Thursday. Most other coins among the top 10 by market capitalization dropped. See related article: Markets: Bitcoin dips below US$20,000; Ether, ETC fall post-Merge […]

Terra CEO Do Kwon faces ‘illegal alien’ status in Singapore as Seoul cancels passport

Prosecutors investigating the man behind the US$37 billion wipeout of the Terra-LUNA cryptocurrency project are raising the stakes to get him back to South Korea.

ETC mining hashrate reaches ATH after ‘Merge’; two proof-of-work chains are rising

Three Ethereum chains that support mining — Ethereum Classic, ETHPoW and Ethereum Fair — together accounted for about 30% of the peak hashrate of Ethereum before “the Merge.”

Why the crypto space needs more women — as employees and at the top

The crypto labor force skews heavily male, which could impede the industry’s future growth, writes Lottie Wells of Wirex. Here are some ways to increase women’s participation.

SEC’s Gensler says proof-of-stake cryptocurrencies may be securities

When is a cryptocurrency a security and when is it not? Financial regulators around the world are raising that question. The answer that comes out of the U.S. may set the tone, but South Korea is also ahead in tackling it.

Celsius seeks court approval to monetize stablecoin assets

Amid its bankruptcy proceedings, crypto lender Celsius Network LLC has sought court approval to sell and/or exchange its stablecoin holdings for U.S. dollars in order to generate liquidity and help fund its operations.  See related article: Goldman Sachs said to raise US$2B for Celsius assets: report Fast facts “Celsius currently owns eleven different forms of […]

As “The Merge” succeeds, rival ETHPoW fork falters

ETHPoW, the Ethereum hard fork blockchain intended to preserve proof-of-work after the native chain transitioned to proof-of-stake, is facing technical difficulties despite months of anticipation.  See related article: Ethereum says Merge upgrade successfully completed, more to come Fast facts Prior to the fork, it was announced that ETHW tokens would be airdropped to Ethereum holders. […]

F2Pool, Poolin, Antpool launch ETHW mining pools

Mining pools F2Pool, Poolin and Antpool have launched their ETHW (EthereumPoW) mining pools, according to their respective websites, while a few other large mining pools have also said they would support the mining of the fork token. See related article: Ethereum says Merge upgrade successfully completed, more to come Fast facts F2Pool said on Thursday […]

S.Korea finance regulator: crypto can be subject to capital markets law

South Korea’s Financial Supervisory Service (FSS) governor Lee Bok-hyun says he disagrees with the view that crypto cannot be seen as financial investment products or securities, while revealing he assisted local prosecutors in designating Terra-LUNA tokens as securities, according to local media reports. See related article: Securities or not? South Korea to evaluate Terra’s LUNA […]

Markets: Bitcoin dips below US$20,000; Ether, ETC fall post-Merge

Bitcoin fell below the US$20,000 support line in Friday morning trading in Asia, while Ether saw a sell-off following the long-awaited network “Merge” on Thursday. The total cryptocurrency market capitalization fell below US$1 trillion as all top 10 tokens were trading down. See related article: Ethereum says Merge upgrade successfully completed, more to come Fast […]

Singapore Deputy Prime sees “tremendous potential” in tokenization and DLT

The Monetary Authority of Singapore (MAS) is preparing for the future of finance by exploring distributed ledger technology use cases, such as asset tokenization and cross-border payments, the city-state’s Deputy Prime Minister Lawrence Wong said on Thursday at an event organized by the central bank.  See related article:  Filecoin service provider RRMine leaves China for […]

Singapore grants capital markets license to SBI’s digital asset arm

SBI Digital Markets Pte. Ltd. (SBI DM) has received a Capital Markets Services (CMS) license from Singapore’s central bank, which allows it to provide custodial services and offer capital markets products. See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts SBI DM plans to launch a digital asset […]

Thailand bans crypto lending and staking services

The Thailand Securities and Exchange Commission (SEC) has prohibited cryptocurrency companies from offering digital assets lending and staking products, or depository services.  See related article: Thailand’s SCBX scraps plan to buy 51% stake in crypto exchange Bitkub Fast facts The regulator said in a press release on Thursday that the decision was made to protect […]

Merge finally arrives; India’s female traders

Welcome to The Daily Forkast – September 15, 2022 – presented by Megha Chaddah. Coming up on today’s show: Ethereum’s Merge is complete. Indian women start to plug into cryptocurrency trading. And finally, can the crypto world shrug off carbon footprint concerns? We’ll have more on those stories — and other news shaping the cryptocurrency […]

CEL price rallies to US$4.26 during Ethereum’s Merge

The bankrupt crypto lender Celsius Network’s native CEL token suddenly spiked to US$4.26, during Ethereum’s much-anticipated Merge, according to data from CoinGecko. See related article: Celsius CEO Alex Mashinsky floats restructuring as custody business amid bankruptcy proceedings Fast facts CEL’s price has since dropped to US$1.94, making it the 61st largest cryptocurrency by market capitalization, […]

Ethereum’s last PoW and first PoS NFTs minted for 67.5 ETH

The last block on the proof-of-work (PoW) Ethereum chain before The Merge was filled by a VanityBlocks non-fungible token (NFT) minted for 31.5 ETH, which was succeeded by the first NFT in the post-Merge proof-of-stake (PoS) chain minted for 36 ETH.  See related article: Fungible after all? Duplicates may disrupt NFT industry after Ethereum Merge […]

Ethereum mining machine maker Sunlune concludes ‘tens of millions’ Series A with chipmaker Intel’s investment arm

Chinese Ethereum mining rig maker Sunlune has concluded its Series A fundraising with “tens of millions” of US dollars from Intel Capital, in an announcement two days before the completion of the Ethereum Merge.  See related article: Why Ethereum Merge will be game-changing for DeFi and crypto investing Fast facts See related article: Crypto miners […]

Women in India start to plug into cryptocurrency trading

Crypto exchanges in India say the number of female investors isn’t huge, but it is growing even as prices slide and new taxes eat into revenue.

Markets: Prices rise as Ethereum Merge boosts ETH, linked tokens

Cryptocurrency markets trended higher in Thursday afternoon trading in Asia, with global market capitalization up 0.4% in 24 hours, trading at US$995.9 billion, still under the US$1 trillion benchmark it dropped below last night. All cryptocurrencies in the top 10 by market cap, with the exception of Bitcoin, strengthened.  See related article: Markets: Bitcoin little […]