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Weekly Market Wrap: Bitcoin hovers around US$28,000 as banking concerns return. Will it hit US$30,000?

As banking contagion worries reignited, Bitcoin traded firmly above US$28,000 for most of the week. Considering that Bitcoin was made for a potential banking crisis, industry experts are eyeing the US$30,000 mark for BTC.

Bitcoin buoyed as bank busts spook investors

Top blockchain and crypto news: Banking woes boost Bitcoin. Arbitrum counts down to launch. Chinese billionaire faces US crypto scam charges.

Judge denies Dapper Labs request to dismiss NBA Top Shot security lawsuit

A US district court judge on Wednesday denied Dapper Labs’ request to dismiss a lawsuit that alleges that the NBA Top Shots NFT collection is an unregistered security. 

Crypto scammers seize on AI frenzy as fraudulent ChatGPT tokens flood markets

Crypto scammers are deploying fraudulent tokens that appear affiliated with the popular AI chatbot ChatGPT, taking advantage of the tech’s investment hype.

Blur lives up to name as its trading volume surpasses OpenSea

Top blockchain and crypto news: Blur’s success spurs changes at OpenSea. Is Binance eyeing US exit? Taiwan asset disclosure rules may include crypto.

Crypto’s data problem: Rebuilding trust in a trustless environment

Price is the wrong measure of Web3’s true value, writes Angie Lau, editor-in-chief of Forkast. To recover from Crypto Winter, we need metrics that are less prone to whims and manipulation.

Ripple expects SEC ruling in first half, clearer global regulations for digital assets in 2023 

Ripple Labs Inc. expects a court decision in the first six-months of this year in the case filed against the company by the U.S. Securities Exchange Commission. The SEC sued Ripple in December 2020 for allegedly selling US$1.3 billion in unregistered securities.

To unwrap Web3’s promises, we must break the barriers to blockchain adoption

Despite blockchain’s potential, barriers to use still stand in the way, writes Andrew Vranjes of Blockdaemon. Solving security issues and reducing risk will be key.

How Web3 can make travel less stressful for future holidays

The travel sector has many pain points and is ripe for disruption, writes Freddie Hickman of Hyper SQ. Here’s what blockchain can do, from tracking baggage to letting you resell your no-longer-wanted air ticket.

Philippines’ Blockchain Future

The Philippines might have moved on from Axie Infinity and other NFT collections, but its still steaming ahe

Genesis jitters keep investors on edge as contagion risks grow

Top blockchain and crypto news: Fear stalks crypto as Genesis wobbles. FTX cleanup begins. China’s NFT scene shrinks.

Blockchain without cryptocurrencies: How might China’s BSN change Web3?

By excising cryptocurrencies from the ecosystem, crypto-hostile China could steal a march in enterprise blockchain, says Red Date Technology chief Yifan He.

Aptos debut underwhelms amid questions over design and performance

Top blockchain and crypto news: Aptos launch falls short. Why FTX chief is calling for crypto regulations. Is Hong Kong paving way for a retail CBDC?

Reinventing banking: Why is Standard Chartered so drawn to Web3?

Institutional adoption of Web3 in finance means getting traditional banks involved, which will in turn reshape the way banks work, says SC Ventures’ Alex Manson.

Dunamu, BTS’ Hybe launch first K-pop digital collectibles platform

Dunamu Inc., the mother company of South Korea’s largest crypto exchange Upbit, and Hybe Co., Ltd., the music agency behind K-pop mega group BTS, launched a K-pop digital collectible platform on Tuesday via their Los Angeles-based joint venture, LEVVELS Inc. See related article: Dunamu looks to K-pop group BTS NFTs to beat ‘Crypto Winter’ Fast […]

Ethereum says Merge upgrade successfully completed, more to come

The Merge is a milestone in slashing electricity use on the Ethereum blockchain, but there are plenty more upgrades in the pipeline.

Where will DeFi be after crypto winter ends?

The collapse of Celsius and Anchor wasn’t a failure of DeFi, writes Kaaran Kalantari of WingRiders. They failed to assess risk, and crypto Darwinism took shape.

The X-to-Earn model: Eat, sleep, do almost anything and get paid in crypto

Are you a good runner? Or eater? Or sleeper? Chances are whatever you’re good at, there’s a Web3 project out there to reward you in crypto. But do the tokenomics stack up?

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.

Establishing standards will be key to the metaverse’s future success

Virtual worlds currently exist in silos, and there is no easy way to communicate between ecosystems — which limits their value, writes Witek Radomski of Enjin.

Despite the bear market, enterprise blockchain has nothing to fear

Crypto’s volatility may be top of mind right now, but blockchain’s practical uses will be the industry’s future, writes Johannes Schweifer of CoreLedger.

Filecoin on a tear as cautious optimism returns to crypto markets

Top blockchain and crypto news: Filecoin leads in market uptick. CryptoPunks in new glow as Tiffany jewelry. Chinese firms flock to Singapore.

Gucci begins accepting BAYC-tied token ApeCoin as payment

Gucci has further embraced cryptocurrencies, announcing in a tweet on Tuesday that it is accepting in-store purchases with ApeCoin through payment service provider BitPay. See related article: How high fashion is waking up to blockchain’s possibilities Fast facts ApeCoin is a cryptocurrency tied to Bored Ape Yacht Club (BAYC), a non-fungible token (NFT) project created […]

Meta’s attempts at building a metaverse will ‘misfire’: Vitalik Buterin

Vitalik Buterin predicts the metaverse will be built, but any existing corporation trying to intentionally build one will not succeed, adding that efforts by Meta (formally Facebook) to do so will “misfire.” See related article: Will Facebook’s metaverse future transform how we live online? Fast facts In a Twitter thread over the weekend, the Ethereum […]

Back to the future: Blockchain returns to the real world

As the once febrile crypto market cools, it’s time to look again at the enterprise capabilities of blockchain, says the Hyperledger Foundation’s Daniela Barbosa

Voyager gives Sam Bankman-Fried’s ‘low-ball’ bailout offer a single digit

Top blockchain and crypto news: SBF’s Voyager rescue deal spurned. Tesla pulls U-turn with BTC sale. Tencent cuts local NFT staff as it looks abroad.

What is the crypto industry’s public responsibility?

The crypto world is consumed by a spiritual battle between its believers and haters, and it is in need of a rebirth and new identity, writes Prof. Yanto Chandra of Hong Kong Polytechnic University.

Voyager calls time on Three Arrows as crypto fund teeters on the brink

Top blockchain and crypto news: Three Arrows fallout spreads. BIS calls BS on crypto. Chinese regulatory vacuum chills an NFT platform.

Crypto winter ushers in account freezes as platforms feel the chill

Top blockchain and crypto news: Investors snowed in as liquidity crunch hits. Solend harpoons anti-whale maneuver. Chinese NFTs prove a tricky target.

STEPN’ing it up with crypto move-to-earn

Enticed by promises of crypto rewards, Joel Stein hits the streets of Los Angeles with a beautiful NFT sneaker. What does he earn — and learn?

Game theory: What’s holding back an explosion of play-to-earn?

Despite its rising popularity, GameFi has lessons to learn from Web 2.0 and elsewhere before it can gain a comparable user base, says Ethlas chief Wui Ngiap Foo.

Bitcoin, Ether bear brunt of market selloff amid fears of Fed rate increase

Still recovering from the Terra-LUNA debacle that wiped off billions of dollars in investor wealth, people sold off cryptocurrencies amid a market slump over expectations that the Fed will act faster to tame inflation.
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The metaverse isn’t a fad but part of the future economy

An open and interoperable metaverse economy will drive consumer activity — and it’s on a similar track for growth as e-commerce, writes Ben Caselin of AAX.

Crypto buyers in emerging economies find themselves caught between a rock and a hard place

Cryptocurrencies can offer citizens in emerging economies a potential buffer against runaway inflation and financial mismanagement by governments. But buying them increasingly means navigating onerous regulations and punishing taxes.

How the bear market could accelerate the Web2 to Web3 migration

The downturn is forcing Web3 firms into a reset — and opening opportunities for Web2 entrepreneurs to enter the playing field, writes Lily Z. King of Cobo.

Former OpenSea employee arrested amid insider trading allegations

The U.S. Department of Justice (DOJ) has charged Nate Chastain, a former employee of the non-fungible token (NFT) marketplace OpenSea, with wire fraud and money laundering for allegedly using confidential information from the platform to trade NFTs. See related article: Insider trading scandal rocks world’s biggest NFT platform OpenSea Fast facts The DOJ alleges Chastain, […]

Mastering the metaverse: TradFi’s space race to ‘the next internet’

Blockchain was once associated overwhelmingly with cryptocurrencies — and specifically its poster children, Bitcoin and Ethereum. The latter, in particular, has thrust the industry forwards into the realm of smart contracts integration.  Ethereum started to bear fruit arguably most prominently last year amid a boom in non-fungible tokens (NFTs), while decentralized finance (DeFi) offered a […]

Blood moon: Terra’s LUNA rescue plan panned by industry, investors

Top blockchain and crypto news: Terra puts down the fork. Bitcoin loses its shine in Singapore. China’s miners dig in.

Australia’s taxman starts knocking on cryptocurrency investors’ doors

The Australian Taxation Office (ATO) warned the country’s cryptocurrency investors to appropriately report any capital gains or losses from digital assets — including non-fungible tokens (NFTs) — in an announcement on Sunday ahead of the upcoming tax season, starting July 1. See related article: Australian Tax Office warns: taxpayers on the hook for crypto tax […]

Azuki fortunes reverse as sales soar after floor price drop

Azuki non-fungible token (NFT) sales rose by more than 800% in the past 24 hours after a 50% floor price dive due to rug pull allegations against the founder. See related article: Twitter hacker takes over verified accounts to promote fake Azuki NFT drop Fast facts More than US$50 million worth of Azukis have been […]

Why Gen Z could turn to DeFi mortgages to build real estate wealth 

Gen Z is already keen on metaverse real estate. Will using DeFi to finance property deals — in the real or virtual world — be the next frontier?

Has Bitcoin become a victim of its own success?

Except for a bout of recession in March 2020, Bitcoin has been fairly resilient to the vagaries of global financial crisis. But with murmurs of another recession gaining steam, Forkast examines the cryptocurrency’s relevance as a safe haven.

Shiba Inu explained — diving beyond the memecoin

Following a year of explosive price gains, the SHIB token is inching closer toward becoming a top 10 cryptocurrency. Will this so-called “Dogecoin killer” succeed? Forkast.News explores what’s in store for Shiba Inu.

Is Elon Musk’s Twitter grab good for crypto?

Top blockchain and crypto news: Tweet dreams come true for world’s richest man. Instagram scam hits Bored Apes. Bilibili tests China’s NFT boundaries.

China’s sports brand Li Ning to showcase Bored Ape Yacht Club

Li Ning, a leading Chinese sportswear and equipment company headquartered in Beijing, is set to release a line of clothing featuring images of the Bored Ape Yacht Club #4102, as the brand looks to take advantage of the growing popularity of non-fungible tokens (NFTs). See related article: Chinese Communist Party paper to “develop” NFTs Fast […]

World Bank rescue package throws lifeline to crypto markets

Top blockchain and crypto news: Crisis response brings crypto relief. North Korea’s Lazarus Group named in Ronin hack. NFTs face new risks in China.

Axie Infinity’s latest fix to tokenomics has players up in arms 

An attempt to assuage Axie Infinity players miffed by falling earnings isn’t turning out too well for developer Sky Mavis, Forkast learns, as loyalists bemoan it may be too little, too late.

How the metaverse is closing the gap between virtual and reality

The metaverse promises to radically change how we work, play and do business. How do we avoid its real-world security risks and pitfalls?

OpenSea sales volume drops as challengers boast user rewards

OpenSea sales volume dropped by 67% over the past 30 days, according to DappRadar, as newer platforms offer rewards to lure users away from the leading non-fungible token (NFT) marketplace. See related article: NFT buyers dip for a second straight month Fast facts Sales volume on OpenSea totaled US$2.64 billion in the past 30 days, […]

Bored Apes set for movie debut with Coinbase

Bored Ape Yacht Club (BAYC) will make its silver screen debut in a film trilogy produced in partnership with Coinbase, the Nasdaq-listed cryptocurrency exchange announced on Tuesday. See related article: Apes Gone Wild! BAYC ‘selling like crazy’ amid otherwise sluggish NFT market Fast facts The first film in the short animated trilogy entitled “The Degen […]

What is the metaverse and are we already living inside it?

The metaverse is envisioned as the next iteration of the internet, introducing an immersive digital universe. Find out what this means for the future of our online lives — beyond all the marketing hype — in this Forkast.News explainer.

Lessons learned from my five years of building blockchain

DLT projects are defined by their network effects, writes Donald Thibeau of HBAR Foundation. Here’s why open networks and community are critical for success.

Like it or not, blockchain and P2E will disrupt the traditional gaming space

Despite criticisms of play-to-earn games, blockchain innovations are here to stay and represent gaming’s future, writes William Wu of Catheon Gaming.

Killing it softly or regulating to innovate? India at the crypto crossroads

India’s crypto tax represents both a threat to the industry and an opportunity to create a regulatory framework to support it, says Polygon’s Jaynti Kanani.

The Metaverse Conquest | Interview with Sébastien Borget

The Sandbox metaverse is made up of 166,464 unique land NFTs, digital pieces of real estate, that players can own to publish their creations, monetize their games or rent to other creators. These lands will host a wide range of experiences, and their limited number makes The Sandbox seem like a virtual Manhattan when it […]

The Boost from Blockchain Gaming

From the lookout: Unbeknownst to those outside the NFT space, there’s a mammoth blockchain game on the horizon. Even before the launch of Star Atlas, which promises cinema-quality graphics, investors are already pouring millions of dollars to purchase in-game NFT items. The unreleased game’s leaderboard shows a player with US$4 million worth of assets. This […]

Aid for Ukraine: why a stranded founder turned to DAO and crypto

Stranded away from home, Web 3.0 company Everstake founder Sergey Vasylchuck realized he could still help his war-torn homeland Ukraine by raising funds through a DAO.
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Conflict currency: How crypto has become enmeshed in the war in Ukraine

Bitcoin and other cryptos are being used on both sides of the fight, raising ethical issues that cut to the core of decentralization, says AAX’s Ben Caselin

The future is decentralized: How Web3 can reshape the world

As the public tires of Big Tech’s privacy abuses, Web3’s premise of decentralization has never looked better, writes Edward Chen of Huobi.

Play to live: GameFi drives a Southeast Asian crush on crypto

More people in the region are in thrall to play-to-earn gaming as it adapts to offer real-world uses, says Infinity Ventures Crypto founding partner Brian Lu.

Russia retreats from crypto ban as it pushes rules for industry

Moscow moves to regulate crypto. OpenSea’s security struggle. Will China cool its metaverse mania?

LooksRare trails OpenSea in sales volume as developers cash out $30M

Trading volumes on non-fungible token (NFT) marketplace LooksRare dropped by more than half its daily volume since developers withdrew roughly US$30 million of its native LOOKS token and cashed out in wrapped Ether (wETH) Fast facts LooksRare was averaging daily sales volumes of around US$550 million but fell more than 50% overnight in early February […]

‘All eyes are on it:’ CryptoPunks at center of copyright legal dispute

The biggest-selling NFT collection of all time has two competing versions, threatening to undermine the value of the tokens and faith in the industry itself.

OpenSea delists CryptoPunks V1 after DMCA notice from Larva Labs

Non-fungible token (NFT) marketplace OpenSea has removed CryptoPunks V1, the “wrapped” edition of the original collectibles, after receiving a DMCA notice — a takedown issue by copyright holders — from creator Larva Labs. Fast facts The V1 CryptoPunks is the original issue of the collection but were replaced with exact copies — the current V2 […]

AssangeDAO strikes crypto gold

WikiLeaks founder’s legal defense fundraising bonanza. Shiba Inu’s big new leap. NFT fever rises in China.

Crypto market suffers mauling as bears go berserk

Top blockchain and crypto news: Market chills make investors shiver. Hacking storm at OpenSea. Has Beijing tamed NFTs?

Crypto market tumbles amid uncertainty over Russia and Ukraine

Bitcoin and Ethereum fall below psychologically important levels as rising uncertainty clouds markets. Is the Fed also depressing crypto’s prospects?

Digital collectible gifts on the way for Chinese New Year

Several mainland tech giants are launching digital collectibles as a novel gifting option for the Chinese New Year holiday season, which starts Feb. 1. Fast facts Digital collectibles are essentially non-fungible tokens (NFTs), but the term has been discouraged by authorities. Chinese search engine Baidu’s XuperChain has launched its digital collectibles platform, with a series […]

Crypto clampdowns mount in Asia as authorities ponder bans

Top blockchain and crypto news: Asian governments target crypto. Managing MATIC. China’s expanding metaverse.

The Australian Open launches on the metaverse, attracting digital fans

In the latest sign of growing blockchain adoption, the tennis tournament expands to the metaverse, offering rewards and participation through NFTs.

Blood, sweat and tiers: Why layer 2 remains the bedrock of Bitcoin development

How has layer-2 innovation saved Bitcoin from becoming a victim of its own success? Blockstream chief Adam Back explains.

Flash crash hits crypto market, but prices steady throughout Asia trading day

Bearish concerns over Federal Reserve rate hikes show a continued correlation with traditional markets, but industry watchers see changing dynamics at play.