Sam Bankman-Fried committed ‘massive fraud,’ says prosecutor in opening statements
Prosecutors allege the founder of the failed FTX cryptocurrency exchange had a reputation that was “built on lies” as hotly awaited trial begins.
SFC to monitor illegal VATP activities with Hong Kong Police Force
The Securities and Futures Commission (SFC) of Hong Kong and the Hong Kong Police Force announced Wednesday the establishment of a working group to monitoring and investigating illegal activities related to Virtual Asset Trading Platforms (VATPs). See related article: Hong Kong crypto network Mixin loses US$200 million in hack Fast Facts See related article: JPEX […]
Bank of Korea to kick off wholesale CBDC pilot
South Korea’s central bank will be launching a pilot program for its central bank digital currency (CBDC) to explore infrastructure requirements, according to an Oct. 4 joint statement by the Bank of Korea (BOK), the nation’s Financial Services Commission (FSC) and the Financial Supervisory Service (FSS). See related article: CBDCs are coming. Here’s why you […]
EU wholesale CBDC plans to publish within weeks, France central bank governor says
European Union central banks will publish plans for a wholesale central bank digital currency (CBDC) in the coming weeks, François Villeroy de Galhau, the governor of France’s central bank, said at a Tuesday event in Paris. See related article: US legislators to discuss CBDC prevention bill on Sept. 20 Fast Facts See related article: Nepal […]
XRP up over 4% after judge denies SEC’s interlocutory motion
The XRP token rose 4.42% after a federal judge denied the U.S. Securities and Exchange Commission’s (SEC) motion to overturn its recent loss against Ripple Labs. XRP traded at US$0.5308 at 2:45 p.m. in Hong Kong on Tuesday, according to CoinMarketCap data. See related article: HK’s SFC & US SEC crack the whip as Blockchain […]
How the NFT market peaks and bottoms differently from the rest of the industry
Cryptocurrencies and NFTs are evolving and carving out distinct niches, prompting a closer look at their diverging paths and the emerging trends in the digital financial landscape.
To succeed, Web3 must become human-centered
Web2 may be easier than ever to use, but its users are plagued by personal data theft and other security risks. Here’s how Web3 can do better.
Ripple attains Singapore license to offer digital payment token services
The Asia-Pacific branch of Ripple Labs has received a Major Payments Institution license from the Monetary Authority of Singapore.
Uptober in crypto, Floptober in NFTs
October’s ghouls and ghosts seem to spook NFT markets too. While Bitcoin shines bright every autumn, NFT traders brace for a ‘floptober’ dip.
Silver Lining? Google Cloud’s head of Web3 talks Big Tech possibilities for the blockchain
At the Token 2049 crypto conference in Singapore held Sept. 13 to 14, Google Cloud’s James Tromans spoke to Forkast about a possible marriage between Webs 2 and 3.
Chainalysis cuts 150 employees
Chainalysis, a New York-headquartered blockchain intelligence firm, is reportedly laying off about 150 employees, or approximately 15% of the 900 staff members. See related article: ‘There’s no doubt we picked a side here’ — Chainalysis founder Michael Gronager talks analytics, Ukraine and crypto adoption in Asia Fast Facts See related article: Bitwise to launch two […]
Bitwise to launch two Ethereum Futures ETFs
Bitwise Asset Management, a U.S.-based cryptocurrency index fund, announced that its two Ethereum futures exchange-traded funds (ETFs), the Bitwise Ethereum Strategy ETF (AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP), will start trading on Monday, Oct. 2. See related article: Valkyrie CIO expects US spot Bitcoin ETF approval in Q2 2024 […]
Coinbase obtains Singapore’s Major Payment Institutions license
The Major Payment Institution license from Singapore’s central bank allows the exchange to expand its digital payment token services in the Lion City.
Why regulated decentralized exchanges are the wave of crypto trading’s future
Bringing together the best parts of centralized and decentralized exchanges, RDEXs also take into account the inevitability of regulations.
Back from the dead: Can FTX stage a comeback?
The prospect of FTX’s return to the competitive exchange landscape is being keenly watched by stakeholders, reflecting on its meteoric rise, groundbreaking approach, and tumultuous fall.
Philippines no plans to mirror U.S. SEC’s ‘crypto crackdown’, to publish crypto framework by H1 of 2024, says securities regulator
The Philippine Securities and Exchange Commission delayed the publishing of a crypto framework earlier this year citing the FTX collapse in late 2022 as the reason.
Quantum computing is coming out of the shadows. Web3 should be scared
Quantum computers may one day crack the cryptographic algorithms that underpin everything from Bitcoin to digital IDs. What can be done to secure Web3’s future?
‘There’s no doubt we picked a side here’ — Chainalysis founder Michael Gronager talks analytics, Ukraine and crypto adoption in Asia
In the second in a series of 1-on-1 interviews from the Token 2049 crypto conference in Singapore held Sept. 13-14, Michael Gronager, founder of blockchain analytics firm Chainalysis, spoke to Forkast about crypto use in the Ukraine conflict, tracking illicit on-chain activity and digital asset adoption in Asia.
SEC Chair Gensler faces bipartisan backlash over strict crypto regulations
Top blockchain and crypto news: U.S. lawmakers berate SEC over ETF applications. NFTs down but not dead. Hong Kong sees year’s biggest crypto heist so far.
Bitcoin, Ether gain; Wall Street on edge amid government shutdown fears
Bitcoin traded above US$26,300 Thursday morning in Asia after briefly breaching US$26,800. Ether also rose above US$1,600 before falling back.
Top 10 cryptos mixed, SEC again delays decision on Ark Invest ETF filing
Toncoin led losses among top 10 cryptos. Bitcoin dropped while Ether rose marginally.
South Korea sentences ex-Coinone crypto exchange executives for bribery
Two former employees at Coinone were sentenced Tuesday for accepting bribes in exchange for listing certain cryptocurrencies on the platform.
JPMorgan’s U.K. bank Chase bans payments linked to crypto
Chase, the U.K.-based digital bank, told customers Tuesday in an email that it will ban U.K. clients from making crypto-related payments.
Have we learned anything from Curve Finance and DeFi’s susceptibility to attacks?
The DeFi giant may have escaped a death spiral, but exploits and code problems like what it recently suffered are more commonplace — and preventable — than what the industry acknowledges.
NFTs are 94% worthless and also up over 52,000%
Amidst the cycles of blossoming and withering in the NFT marketplace, a significant majority of NFTs find themselves succumbing to worthlessness, leaving the persistent 5% to defy the fleeting trends.
Bitcoin, Ether tread water; U.S. equities slide with mega-cap tech giants leading the declines
Bitcoin dipped on Wednesday morning in Asia to trade range-bound below US$26,300. Ether edged higher but failed to reclaim the US$1,600 mark.
Bitcoin, Ether rise; BNB leads gains among top 10 cryptos
Binance’s BNB token gained the most after Binance Japan and Mitsubishi UFJ Trust and Banking Corporation jointly announced they are collaborating on the issuance of fiat-pegged stablecoins.
Binance Japan partners with mega bank MUFJ on stablecoin project
Mitsubishi UFJ and Binance Japan will collaborate on the issuance of fiat-pegged stablecoins.
Hong Kong crypto network Mixin loses US$200 million in hack
Mixin Network announced Monday that the database of its cloud service provider was hacked, resulting in the loss of approximately US$200 million.
PayPal’s stablecoin is a big step forward for crypto’s legitimacy but not much yet for the cause
PYUSD’s launch is injecting much-needed trust into crypto’s turbulent landscape, but its current form does not come with any of the benefits of real crypto, writes Danny Chong, co-founder of Tranchess.
Bitcoin, Ether flat; MicroStrategy adds to Bitcoin holdings
Bitcoin traded flat below US$26,300 Tuesday morning in Asia. Ether edged up but remained below the US$1,600 mark.
Bitcoin, Ether fall with Toncoin leading losses in top 10 cryptos
Bitcoin fell below US$26,500 while Ether dipped below US$1,600 in the past 24 hours.
South Korean entertainment firm NHN to build blockchain games on Sui despite local ban
NHN Corporation announced Friday that it has partnered with U.S.-based Mysten Labs to launch an on-chain game scheduled for 2024.
AI, Asia and analytics — an interview with Nansen’s Alex Svanevik
Blockchain analytics are key to understanding the nascent crypto industry. But the analysis sector is far from immune from the pressures of the ongoing crypto bear market. In the first of a series of 1-on-1 interviews from the Token2049 conference held in Singapore Sept. 13-14, Alex Svanevik, CEO of blockchain analytics firm Nansen, sat down with Forkast to discuss current crypto challenges, the Asia growth market and the increasing use of artificial intelligence in the industry.
Bitcoin, Ether drop; top cryptos retreat with Toncoin leading losers
Bitcoin fell Monday morning in Asia to trade below US$26,300. Ether also dipped and remained below the US$1,600 mark. All top 10 non-stablecoin tokens dropped.
Weekly Market Wrap: Nomura’s Bitcoin Fund, Citigroup blockchain move fail to lift Bitcoin above US$27,000
Bitcoin remained below the US$27,000 mark, despite significant institutional players, like Japan’s largest bank, Nomura, launching a Bitcoin adoption fund earlier this week.
Hong Kong may tighten enforcement amidst JPEX scandal, says former SFC official
The JPEX scandal sheds light on the vulnerabilities in Hong Kong’s crypto marketplace, prompting reflection on regulatory safeguards as the city aspires to be a global digital asset hub, former SFC regulator Angelina Kwan says.
NFT creators seek alternatives after OpenSea cuts royalties
Following OpenSea’s decision to cut creator royalties, artists are seeking more creator-centric alternatives, but industry experts told Forkast that the decision could impact the entire NFT space in the long term.
Matic biggest loser among top 10; Bitcoin falls, Ether dips below US$1,600
Matic was the biggest loser in the top 10 cryptocurrencies by market capitalization, falling alongside most other cryptos and with Ether falling below US$1,600. Despite Bitcoin’s sluggish price action, industry experts say that institutions continue adopting the world’s first cryptocurrency. See related article: Weekly Market Wrap: Deutsche Bank’s crypto move propels Bitcoin to US$26,750 MATIC […]
South Korea’s Kakao, Com2Us wind down metaverse units
South Korea’s top internet company Kakao and leading game developer Com2uS are sizing down their metaverse teams after large losses.
Adding AI to Web3 will spark a Cambrian explosion of innovation — but not anytime soon
Blockchain and AI’s synergistic combination will create technology beyond today’s wildest imagination. But true AI-Web3 integration remains a difficult affair.
Bitcoin, Ether and other top-10 cryptos down amid Wall Street sell-off
Bitcoin dropped on Friday morning in Asia to trade below the US$27,000 support level. Ether also retreated and lost control of the US$1,600 mark.
US SEC to tighten regulatory enforcement beyond Coinbase, Binance.US
Top blockchain and crypto news: U.S. SEC steps up regulatory enforcement. Gaming giant Zynga moves into NFTs. Woes ahead for JPEX exchange after HK arrests.
Toncoin leads declines, Bitcoin dips below US$27,000
Toncoin was the biggest loser in the top 10 cryptocurrencies by market capitalization, falling alongside most other cryptos except Dogecoin. With Bitcoin below US$27,000, FTX’s crypto liquidations could keep prices subdued for the rest of the month, market analysts told Forkast. See related article: Weekly Market Wrap: Deutsche Bank’s crypto move propels Bitcoin to US$26,750 […]
South Koreans hold nearly US$100 billion in crypto overseas
South Korean investors and corporations hold over 131 trillion Korean won (US$97.9 billion) worth of cryptocurrencies in overseas accounts.
Bitcoin, Ether dip; Toncoin leads crypto retreat following hawkish Fed comments
Bitcoin briefly fell below US$26,900 on early Thursday morning in Asia but is now trading above US$27,000. Ether also dropped but held above US$1,600.
Toncoin leads top 10 cryptos with weekly gain of 31%, could Bitcoin rise to US$30,000 by October?
Toncoin led gainers in the top 10 cryptocurrencies by market capitalization, rising over 31% since its Telegram partnership last week. Despite Bitcoin’s short-term corrections, it could return above the US$30,000 support level by October, according to market experts. See related article: Weekly Market Wrap: Deutsche Bank’s crypto move propels Bitcoin to US$26,750 TON leads winners, […]
SEC will load more charges on crypto exchanges and DeFi, says enforcement chief
The U.S. SEC will expand its regulatory enforcement onto crypto exchanges, intermediaries and decentralized finance (DeFi) entities.
It’s time to bring debt capital markets to the 21st century
Bond markets, which go back 400 years, are still bogged down by high costs, delays and a gauntlet of middlemen. Here’s how blockchain technology can reform the sector.
There’s a new game in town
Zynga’s free Sugartown Oras NFTs spotlight the power of mystery in the digital asset realm as prices surge on speculation.
Bitcoin trades above US$27,000; Toncoin extends rally
Bitcoin rose on Wednesday morning in Asia to trade above US$27,200. Ether remained flat at around US$1,640. All other top 10 non-stablecoin tokens logged gains.
Solana leads winners in top 10 cryptos; Bitcoin, Ether rise for 2nd consecutive day
Solana led gainers in the top 10 cryptocurrencies by market capitalization, recovering from a two-month low. Bitcoin and Ether rose during afternoon trading in Asia along with most cryptos. Market experts said that the continued entrance of large institutions could provide the crypto industry more legitimacy and price stability. See related article: Weekly Market Wrap: […]
U.S. SEC denied immediate access to Binance.US software
A U.S. federal judge has denied the U.S. Securities and Exchange Commission immediate access to Binance.US’ software, in response to the regulator’s motion demanding more detailed information from Binance and greater availability of its executives for depositions.
How Singapore is redefining Web3’s public-private landscape
Now a top-ranked crypto hub, Singapore is a shiny example of the central role that government can play in nurturing industry growth while bolstering consumer protections.
Citigroup debuts digital token service for institutional clients
Citigroup announced Monday the launch of its new blockchain-based cross-border payments solution for institutional clients.
Bitcoin, Ether rise; Toncoin leads crypto rebound
Bitcoin rose on Tuesday morning in Asia to around US$26,700, after briefly breaching the US$27,000 mark. Ether also logged gains but remained below US$1,650.
JPEX crypto exchange shuts trading amid Hong Kong regulator probe
Dubai-based cryptocurrency exchange JPEX is shutting trading its platform amid a probe by the Hong Kong’s Securities and Futures Commission that said the firm was operating as an unlicensed entity, according to media reports.
BNB leads winners in top 10 cryptos; Bitcoin, Ether rise 0.8% in afternoon trading
BNB led gainers in the top 10 cryptocurrencies by market capitalization, despite Binance’s growing challenges. Bitcoin and Ether rose during afternoon trading in Asia, as market analysts are saying it could start picking up more bullish momentum above the US$26,000 mark. See related article: Weekly Market Wrap: Deutsche Bank’s crypto move propels Bitcoin to US$26,750 […]
What Europe’s new spot Bitcoin ETF means for global markets
Europe’s first spot Bitcoin ETF ushers in an era where traditional finance and crypto are converging, setting the stage for digital assets to become mainstays in the economy.
US legislators to discuss CBDC prevention bill on Sept. 20
The U.S. House Financial Services Committee announced last Friday that it will discuss a new bill to prevent the issuance of a CBDC.
Bitcoin, Ether flat; altcoins drop amid FTX liquidation
Bitcoin dipped on Monday morning in Asia to trade at around US$26,500. Ether also moved lower but held the US$1,600 support level.
Valkyrie CIO expects US spot Bitcoin ETF approval in Q2 2024
A growing number of asset management companies are joining the race for the approval of a Bitcoin spot exchange-traded fund in the United States while the Securities and Exchange Commission keeps delaying its decision on existing applications.
Friend.tech a surprise hit among crypto investors at Token2049 as they urge ecosystem expansion
Funders see the novel social media network as emblematic of an abundance of opportunity in crypto and DeFi amid infrastructure gaps and increased integration with real-world assets
Crypto and Formula One’s honeymoon is over, can Web3 save a rocky marriage?
The third installment of Forkast’s ‘Crypto in Sport’ series comes from Singapore, which this week plays host to Formula One’s Singapore Grand Prix. Crypto companies poured hundreds of millions of sponsorship money into F1 at the height of the bull market, but might a prolonged crypto winter pull the plug on this marriage of convenience? Or can diversification and real world use cases help breathe new life into the relationship? Welcome to crypto’s very own drive to survive.
Half a world away — Gary Gensler’s SEC dominates discussion at Singapore’s Token 2049
Billed as Asia’s largest crypto event, Token 2049 took place over Sept. 13-14 in the Southeast Asian city-state of Singapore. Drawing over 10,000 attendees from all parts of the world, there was excitement about blockchain adoption in the region. But repeat references to one man were a reminder of the U.S. regulatory concerns weighing heavily on the crypto industry.
Weekly Market Wrap: Deutsche Bank’s crypto move propels Bitcoin to US$26,750
Bitcoin hit a weekly high of US$26,750 after Deutsche Bank announced plans to offer crypto custody services for institutional investors, days after Standard Chartered launched its own institutional crypto wing.
Who’s who in the Sam Bankman-Fried trial?
FTX’s former CEO, Sam Bankman-Fried, faces DOJ scrutiny with seven charges. Here are the six key figures in the coming crypto courtroom showdown.
Investing in a Monet painting is no longer just for the super-rich, thanks to blockchain
The gates are opening for ordinary investors to buy into real-world assets like rare art and fancy real estate. But regulations and compliance hurdles remain.
Bitcoin, Ether rise; Deutsche Bank to provide crypto custody services
Bitcoin rose on Friday morning in Asia to trade above US$26,500. Ether also moved higher to over US$1,600. All other top 10 non-stablecoin tokens gained.
Binance.US CEO calls it quits amid major layoffs
Top blockchain and crypto news: Binance.US undergoes staffing shakeup. Ethereum NFTs at risk. India to take a stand on crypto.
Solana leads winners in top 10 cryptos as Bitcoin, Ether extend gains
All top 10 cryptos gained in Thursday afternoon trade in Asia, except Toncoin.
SEC fines Stoner Cats for selling unregistered securities as NFTs
NFT markets fear more enforcement action may be heading their way, while NFT offerings as securities fail to convince the SEC.