Search results: banking

Top blockchain and crypto news: Arbitrum to segment AIP-1. DeGods NFT collection moves to Ethereum. Crypto on the agenda at ‘China’s Davos.’

Americans spend more than US$12 billion in remittance fees each year when sending money to family and friends living overseas using the traditional financial system. However, overseas remittances using Bitcoin and Ethereum cost 96.7% less, according to research by Coinbase.

Bitcoin, the world’s largest cryptocurrency by market capitalization, recovered to trade above US$28,000 on Tuesday afternoon in Asia.

Cryptocurrency exchange Bybit has been ordered to comply with Japan’s regulatory requirements and cease offering services to Japanese residents, after Japan’s Financial Services Agency issued a warning to the company over its registration process

Bitcoin dipped on Monday morning in Asia but held above US$28,000. Most top 10 non-stablecoin cryptos dropped following a week unsettled by regulatory woes.

With a U.S. regulator coming after Binance with a lawsuit and the seeming mounting pile of warnings and fines against other exchanges in the country, Bitcoin briefly skidded below US$26,677 only to rebound and pop up above US$29,000 on Thursday. Since then it has moved along the US$28,000 line, so what does this lawsuit by the heavyweight Commodity Futures Trading Commission mean for the broader crypto market?

Bitcoin and Ether fell during Asian trading hours on Friday, while the rest of the top 10 non-stablecoin cryptocurrencies by market capitalization were mixed, amid mounting allegations against Binance

Bitcoin dipped in Friday morning trading in Asia but held above US$28,000. The top 10 non-stablecoin cryptocurrencies traded mixed. Binance’s BNB led the winners.

From traditional finance to digital transformation – how can both learn from each other?

Bitcoin, the only gainer in the top 10 non-stablecoin cryptocurrencies by market capitalization, rose during Asian trading hours on Thursday.

Bitcoin edged above US$28,000 in Thursday morning in Asia amid a broad rally in most top 10 non-stablecoin cryptocurrencies.

Dubai-based Fasset says Indonesia digital asset adoption is still in early stages, but the country’s young population is taking to crypto faster, encouraging exchanges to move in despite infrastructure constraints.

Top blockchain and crypto news: Binance targeted in CFTC lawsuit. Law catches up with Do Kwon. Chinese banks bet on Hong Kong crypto.

Bitcoin rallied above US$28,000 in Wednesday afternoon trade in Asia after losing ground earlier in the week when U.S. regulators filed a lawsuit against Binance, the world’s biggest crypto exchange, for allegedly breaching trading rules.

Bitcoin rebounded in Wednesday morning trading in Asia along with all other top 10 non-stablecoin cryptocurrencies. XRP led the winners.

Asia-Pacific nation are leading the way in developing global cryptocurrency regulations that favor innovation, which is something that U.S. regulators should also take note of, said Ripple Labs Inc. President Monica Long

Bitcoin and Ether continued to fall in Tuesday afternoon trade in Asia, along with most other top 10 cryptocurrencies by market capitalization, after regulators in the U.S. pulled up Binance, the world’s biggest crypto exchange, for allegedly violating trading mandates.

Bitcoin fell Tuesday morning in Asia along with most other top 10 non-stablecoin cryptocurrencies after the U.S. filed a lawsuit against Binance.

China banks in Hong Kong are offering services to crypto businesses, Bloomberg reported on Monday, as more digital asset firms operate in the city.

Most cryptocurrencies saw a huge increase in price over the past week.

Hong Kong’s new crypto licensing regime isn’t the only bullish sign for the city’s digital asset industry, says Signum Digital, the first company to win a preliminary license to handle securitized tokens in the city.

Angelina Kwan, who helped shape early Hong Kong automated trading services and internet trading regulation, told Forkast the upcoming virtual asset licensing regime is almost identical to that for traditional financial institutions.

Bitcoin and Ether fell during Asian trading hours on Friday, along with most of the top 10 non-stablecoin cryptocurrencies by market capitalization, with Binance’s BNB sustaining the biggest loss in the top 10.

Bitcoin fell on Thursday morning in Asia, tracking equities lower after the U.S. Fed indicated interest rates could stay higher for longer.

If there was a lesson from the crypto implosions of 2022, it is the demonstration of the superiority of open code and decentralization over central intermediaries, argues Voorhees at DC Blockchain Summit.

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

Bitcoin continued to trade above US$28,000 on Wednesday afternoon in Asia. Ether also rose, along with all other top 10 non-stablecoin cryptocurrencies with XRP and Cardano leading gains.

Bitcoin held above US$28,000 on Wednesday morning in Asia amid a rebound in most top 10 non-stablecoin cryptocurrencies. XRP led the winners.

The Bitcoin Fear & Greed index rose to a 16-month high of 68 points today, signaling that investors are becoming more greedy than fearful.

Bitcoin and Ether fell in Tuesday afternoon trade in Asia after rallying through the past week, while financial authorities injected cash into markets to ease liquidity pressures and took other steps to address concerns over a banking sector crisis in the U.S. and Europe. 

Welcome to The Daily Forkast – Tuesday March 21, 2023 – presented by Joel Flynn for the latest in the markets. Bitcoin sits near the US$28,000 mark, remaining relatively stagnant over the past 24 hours. The sideways trades come as market fears ease over the banking crisis.

The fall of Silvergate, SVB and Signature has left crypto firms scrambling for new banks. Will crypto banking head offshore for the long term?

Bitcoin traded flat below US$28,000 on Tuesday morning in Asia. Most other top cryptocurrencies retreated ahead of a U.S. decision on interest rates.

Bitcoin traded above US$28,000 on Monday afternoon in Asia, a gain of 25% over last week, as a banking crisis in the U.S. and Europe prompted traders to see Bitcoin as a safe haven.

New York Community Bancorp will assume all deposits and certain loan portfolios of the failed Signature Bank, the FDIC said on Sunday.

Bitcoin briefly breached US$28,000 at the weekend in a bullish run extending into Monday morning in Asia amid worries about bank risk.

As the U.S. banking system stared into the pit of bank runs and collapsing share prices, the authorities acted swiftly to try and pull everything back from the edge. However, Bitcoin seemed unperturbed. Is this what a safe haven looks like?

Bitcoin and other cryptocurrencies bounce back after a turbulent week for banks in the US and Switzerland.

Bitcoin and Ether rallied by the end of Asian trading hours on Friday afternoon, together with all other top 10 non-stablecoin cryptocurrencies by market capitalization.

Bitcoin neared the US$25,000 mark on Friday morning in Asia. Cryptocurrencies gained as the U.S. and Europe moved to backstop troubled banks with cash.

As bank after bank topples, fingers are pointing everywhere. But crypto is not to be blamed for this unfolding crisis, writes Winston Hsiao of XREX.

Guo Wengui, an exiled Chinese billionaire, was arrested in New York on Wednesday for allegedly orchestrating a more than US$1 billion fraud conspiracy that included cryptocurrency, according to the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). See related article: U.S. banking regulators warn against cryptocurrency fraud, contagion risks Fast facts […]

Many crypto users see losses as the cost of doing business. In fact, we can and must improve the sector’s deficiencies, writes Pelle Brændgaard of Notabene.

Top blockchain and crypto news: USDC stabilizes after SVB collapse. Silvergate closes shop. China tightens financial supervision.

The decision to shut down Signature Bank at the weekend was not related to cryptocurrencies, the New York regulator told Reuters on Tuesday.

Bitcoin and Ether continued strong price gains, with most of the top 10 non-stablecoin cryptocurrencies logging advances for the past seven days.

Bitcoin, the world’s largest cryptocurrency, rallied past the US$26,000 mark at 09:15 p.m. in Hong Kong, shortly after the release of the United States Consumer Price Index (CPI)

Why the banking collapse could save NFTs.

Bitcoin continued to gain in morning trading in Asia, as regulators acted to backstop the U.S. banking industry. Most of the top 10 cryptocurrencies gained.

The recent U.S. bank failures are proof that the banking system is introducing systemic risks to the crypto industry, not vice versa, says Circle chief strategy officer Dante Disparte.

Circle said the USDC reserve deposits held at the failed Silicon Valley Bank will be recovered when banks open on Monday.

Circle said its $3.3 billion of USDC cash reserves at the collapsed Silicon Valley Bank will be available Monday after regulators stepped in to backstop deposits.

Bitcoin and Ether led a rebound in cryptocurrencies in Asia morning trading as U.S. regulators backstopped banks with ties to the crypto industry.

Bitcoin fell below US$20,000 for the first time since Jan. 13 on the back of crypto bank Silvergate’s collapse and the U.S. Fed signaling higher than expected interest rate hikes.

Bitcoin and Ether tumbled during Asia trading hours on Friday afternoon, with Dogecoin leading losses among the top 10 largest non-stablecoin cryptocurrencies by market capitalization, pressured by crypto bank Silvergate’s liquidation

Silvergate Capital said Wednesday it will cease operations and liquidate its bank unit.

Top blockchain and crypto news: Silvergate woes spark bankruptcy talk. LDO dips on false enforcement rumors. Chinese leaders push digital development.

Stablecoins could have a place in the U.S. financial services sector if appropriate regulation is put in place, Federal Reserve Chairman Jerome Powell said on Tuesday at a hearing before Congress.

Bitcoin and other major cryptocurrencies traded mixed on Wednesday morning in Asia, largely shrugging off the slump in U.S. equities overnight.

The SEC announced emergency action against crypto hedge fund BKCoin and co-founder Kevin Kang in connection with an alleged fraud scheme.

Bitcoin and Ether traded mostly flat in a downtrend move for most of the top 10 cryptocurrencies in Tuesday morning in Asia. The new Forkast NFT 500 index slipped.

U.S.-based cryptocurrency exchange Kraken is working on establishing its own bank, despite the recent regulatory headwinds

Bitcoin gained in Monday afternoon trade in Asia while all other top 10 non-stablecoin cryptocurrencies by market capitalization posted losses.

Web3 is growing more rapidly than the early internet, writes Ken Timsit of Cronos Labs. But to achieve mainstream success, the following issues must be addressed.

Bitcoin and other top 10 cryptocurrencies fell on Monday morning amid concern about the troubled crypto bank Silvergate.

USDC issuer Circle said Friday that it is withdrawing from “certain services that involve” California-based cryptocurrency bank Silvergate.

Australia has outlined potential use cases and providers for a central bank digital currency (CBDC), with a pilot program to be launched in the coming months.

A U.S. central bank digital currency would “crowd out” the cryptocurrency ecosystem and protect national security, according to an ex-top presidential adviser.

Greater transparency and confidence in who you are transacting with could go a long way toward alleviating public mistrust, writes Travis Nelson of Quadrata.

DBS Digital Exchange (DDEx), one of Asia’s first bank-backed digital exchanges, has reported a year-on-year increase of 80% in Bitcoin traded in financial year 2022, while the number of Bitcoin custodized with the bank doubled from 2021. 

The cryptocurrency industry faced criticism during a Senate committee meeting on Tuesday entitled “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets.”

The Hong Kong government is looking to raise US$102 million through the pilot issuance of its digital green bonds, according to a Monday report from Bloomberg.