Search results: Forkast.News

Ethereum gained over 10% in 24 hours to reach US$2,000 on Tuesday morning in Asia after spending the better part of a week below the mark. Ethereum was trading at US$1,985 at press time. See related article: Bitcoin, Ethereum, crypto at 2022’s lowest point Fast facts The world’s second-largest cryptocurrency hit a low of US$1,721 […]

Luxury Italian fashion house Prada announced a scheduled June 2 drop of its first independent non-fungible tokens (NFT), Timecapsule NFT, following its January NFT collaboration with Adidas.  See related article: How high fashion is waking up to blockchain’s possibilities Fast facts First started in December 2019, Prada Timecapsule is a monthly online event where an […]

The Reserve Bank of India explores digital rupee options. Meanwhile, Terra’s new Luna coin drops significantly since launch.

Fueled by seismic shifts in societal values, decentralized autonomous organizations are now poised to go mainstream, writes Hannes Graah of Gro.

Advocates for central bank digital currencies argue their inherent stability supersedes any benefits so-called stablecoins, algorithmic or otherwise, could offer.     

The Tezos blockchain showcased the evolving relationship between art, technology and culture at a three-day interactive exhibition, The Ever-Evolving World of Art, at Art Basel, Hong Kong, which ended Sunday.  See related article: How Asia’s generative NFT art is reshaping the global creative culture Fast facts The event featured NFT works from 22 international digital artists, […]

Shenzhen, Guangzhou, and Xiong’an New Area announced they are distributing free digital yuan “red packets” to boost local consumption amid China’s economic slowdown fueled by mass Covid lockdowns.  See related article: Covid-19, postponed Asian Games to push digital yuan into the slow lane? Fast facts See related article: What I learned from my role in […]

The new LUNA was trading under US$6 on Monday morning Asia time, after peaking at US$18.87 shortly following the launch of the Terra 2.0 blockchain on Saturday, according to data from CoinGecko. See related article: Winning back the trust of the Terra community a tall order for Do Kwon: Experts Fast facts LUNA Classic (LUNC) […]

Non-fungible tokens (NFTs) featuring Chinese late Qing dynasty painter Wu Changshuo’s artwork debuted on Tencent’s Huanhe NFT platform on Thursday with all 28,000 copies selling out immediately after the drop, reflecting a still robust market for such assets in China. See related article: Chinese stock image agency VCG tests NFT marketplace Fast facts The Wu […]

The Reserve Bank of India (RBI) is aligning its central bank digital currency (CBDC) design with monetary policy objectives and financial stability, the central bank said in its annual report.  See related article: Report: Stablecoins, CBDCs may not resolve financial inclusion, international remittance challenges Fast facts Finance Minister Nirmala Sitharaman announced in February the RBI […]

The world’s second-largest stablecoin USDC and ERC-20 IAG tokens can now be bridged from Ethereum to the Cardano network through Iagon’s cross-chain bridge powered by the Milkomeda sidechain. See related article: Wormhole to bridge Polkadot, Kusama to Ethereum, Solana Fast facts A cross-chain bridge allows for crypto assets of one blockchain to be converted for […]

The Singapore-based banking behemoth may have found its reach constrained in retail crypto markets, but it still has big plans, CEO Piyush Gupta tells Forkast.

StepN limits their services in China. Meanwhile, Terra 2.0 poses questions relating to investor trust.

Do Kwon’s proposal to create a new Terra network chain is set to go live this weekend — what does Terra 2.0 entail and will it successfully win back its following?

STEPN on Friday said it would stop providing Global Positioning System (GPS) and Internet Protocol (IP) location services to users in mainland China starting mid-July. See related article: Chinese runners offer substitute running to earn STEPN’s GMT for commission Fast facts STEPN said the move was made to abide by Chinese regulations and that it […]

Veteran investor Cathie Wood’s ARK Investment Management and Swiss investment product issuer 21Shares are trying their luck again at getting a spot Bitcoin exchange-traded fund (ETF) approved. See related article: SEC comes around on Bitcoin ETFs Fast facts Cboe BZX Exchange, Inc. is seeking the Securities and Exchange Commission’s (SEC) approval to a proposed rule […]

The Terra governance system has given a 99.39% approval on Friday Asia time to burn about 1.38 billion TerraClassicUSD (USTC), or approximately 11% of the total supply of the stablecoin’s supply. See related article: Terra, LUNA vote ends in favor of Do Kwon’s new chain proposal Fast facts There is a total of about 11.2 […]

Visual China Group (VCG), China’s largest stock image provider, has started a non-fungible token (NFT) marketplace that lets users outside of mainland China pay with Ether. See related article: China’s diktat against NFT flipping spawns an ingenious industry Fast facts The platform, dubbed “Vault by 500px,” went live with a beta version on Wednesday, and […]

Pop culture event Comic Con India (CCI) will dive into the metaverse with the launch of non-fungible token (NFT) collectibles Non-Fungible League.  See related article: How the metaverse is closing the gap between virtual and reality Fast facts The Non-Fungible League will create and mint heroes for the metaverse, and will contain a series of […]

U.S. Federal Reserve Vice Chair Lael Brainard said a central bank digital currency (CBDC) could coexist and complement stablecoins in her Thursday testimony to a House Financial Services Committee virtual hearing. See related article: CBDC tracker shows U.S. falling further behind Fast facts CBDCs are digital currencies released and backed by central banks, while stablecoins […]

Did you know that 38% of Americans lack confidence in election fairness? No wonder, since the paper ballot voting system has been in place since the beginning of the 19th century. Can a blockchain-based voting system restore trust in democratic elections? Learn more about the promise of blockchain voting in this Forkast video explainer. What […]

Did you know that the supply chain is responsible for 90% of companies’ environmental impact? This is because our fragmented logistics process doesn’t account for the environmental cost of the products. Can blockchain help create a global environmental standard? Find out in this Forkast video explainer.  What you’ll learn: How blockchain can track the environmental […]

As U.S. inflation hit a 41-year record, people are looking for ways to protect their purchasing power. Beyond precious metals like gold and silver, could blockchain-based digital assets offer a better store of value for everyday consumers? What you’ll learn: Why the rising inflation rates are a threat to our purchasing power. How average consumers […]

While the banking system has been working well for citizens in first-world economies, people in underdeveloped regions often struggle to gain access to the same financial services that others are taking for granted. Can a blockchain-based financial system restore financial neutrality and bank the world’s unbanked? Find out in this Forkast.News video explainer.  What you’ll […]

From credit card transactions to shopping habits and browsing histories, our digital footprints are recorded and preserved in centralized databases. These data are monetized for profit by third parties. Could blockchain-based Zero-Knowledge Proof put an end to mass surveillance? Find out in this Forkast.News video explainer. What you’ll learn: What is financial surveillance and how […]

The world’s third-largest cryptocurrency exchange in terms of trading volume Thursday said it acquired Latin American crypto exchange Bitex to expand its footprint in the region. See related article: Huobi Group poised to establish regional hub in Singapore Fast facts Though terms of the deal were not disclosed, Huobi said it plans to integrate Bitex’s […]

Flament’s comments come as governments around the world step up regulation of the sector plagued by frequent frauds, high-profile run-on-the-banks and misrepresentation from the anonymity blockchain and cryptocurrency offer.

Bitcoin’s hashrate has dropped since the crypto market crash. Meanwhile, Australia’s new Labor government could bring about changes for the crypto sector.

The operator of the Indian cryptocurrency exchange is working with large institutional borrowers, third-party lending partners and staking platforms to generate yield on cryptocurrency and digital assets, CoinDCX said in a statement. See related article: CoinDCX investment arm to invest US$13 mln in Web3 startups Fast facts The yield program doesn’t come with lock-in periods […]

a16z crypto said its fourth fund raised US$4.5 billion, bringing the total amount of funds raised for investment in crypto and Web 3.0 startups by the famed Silicon Valley venture capital firm to more than US$7.6 billion. See related article: Binance, a16z among investors backing Musk’s Twitter bid with US$7B Fast facts Around US$1.5 billion […]

Changes in government don’t come about too often in Australia, so there’s always plenty to unpack when it does, including what’s in store for investors in the world of cryptocurrency.

The Supreme People’s Court of China urged the local judicial system to adopt blockchain technology to build up connections between courts across the country by 2025.  See related article: How blockchain technology is shaking up courtrooms in Asia Fast facts The Supreme Court said in a document published on Wednesday that blockchain can utilize the […]

A JPMorgan strategist said digital assets are the bank’s preferred alternative asset class while placing Bitcoin’s fair price value at 28% higher than its current price of about US$29,000. See related article: JPMorgan predicts $150,000 Bitcoin price in the long run Fast facts “Going forward, we see upside for Bitcoin and crypto markets more generally,” […]

Governments around the world are racing to develop their own digital currencies, but an e-HKD may not make sense for Hong Kong’s people. John Mitchell of Episode Six explains why Hong Kong is unique.

The digital assets tax compliance and portfolio tracking firm’s launch in India comes after the country announced a series of measures to benefit off the gains made in cryptocurrencies.  See related article: India tax breaks crypto’s back Fast facts Crypto users in India can use CoinTracker to aggregate and reconcile cryptocurrency and non-fungible token (NFT) […]

Bitcoin’s hashrate dropped by 10.6% to 204.4 exahashes per second on Wednesday on a seven-day average from its peak earlier this month, Blockchain.com data show. See related article: Beijing banned crypto mining, so China miners went underground Fast facts The Bitcoin mining difficulty level fell by 4.33% to 29.9 trillion at block height 737,856 on […]

Around US$1.5 million worth of 29 Moonbirds non-fungible tokens (NFT) were stolen in a phishing scam on Wednesday. See related article: Beeple’s Twitter account latest victim to phishing scam hacks Fast facts A phishing attack is where scammers use deceptive means to direct victims to malicious links to steal personal information. Twitter user @0xLosingMoney has […]

A hydropower plant in China has been fined for illegally powering crypto mines. Meanwhile, South Korean auditors plan on auditing Terra and other crypto exchanges.

Terra’s governance vote closed on Wednesday evening Asia time with 65.50% of governance voters in favor of Terraform Labs CEO Do Kwon’s proposal to create a new blockchain. See related article: Terra raises aUST initial token float to 30% in revival plan amendment Fast facts Kwon’s “Terra Ecosystem Revival Plan 2” ditches the algorithmic stablecoin […]

Top blockchain and crypto news: Billions cut ties with Tether. Are Terra’s UST troubles just beginning? China’s miners stay one step ahead.

The crypto community is still dealing with the fallout from the multibillion-dollar collapse of Terra-LUNA. At a Davos event organized by Forkast, we asked what caused the crash and if it was foreseeable.

If buying a home is the American Dream and key to building wealth, what is that like in the metaverse? Crypto newcomer Joel Stein finds out.

The Lu Xun High School in China’s Hainan province has provided students with a new campus smart card device with digital yuan payment functionalities, further expanding use of the e-currency at education institutions, China’s largest state-owned broadcaster China Central Television (CCTV) reported Tuesday. See related article: Covid-19, postponed Asian Games to push digital yuan into […]

Nasdaq-listed Coinbase Global, Inc. became the first cryptocurrency company to make it to the Fortune 500 list of the biggest U.S. corporations on Monday.  See related article: Coinbase blames India’s central bank for exit Fast facts Coinbase’s 2021 revenue of US$7.8 billion brought the company to the 437th rank in Fortune’s annual list. The top […]

The Financial Supervisory Service (FSS) of South Korea will perform an on-site inspection of Terraform Labs and financial services linked to TerraUSD (UST) or LUNA. See related article: Are we heading for a post-Terra crypto winter? Fast facts The FSS said at an emergency National Assembly meeting on Tuesday that the audit aims to prevent […]

Chinese authorities have fined a hydropower plant in Central China’s Hubei province 43,493 yuan (US$6,528) for “illegally supplying electricity to virtual currency mining operations,” as the country continues to crack down on cryptocurrency operations. See related article: Beijing banned crypto mining, so China miners went underground Fast facts In addition to the fine, the authorities […]

Brave announced on Wednesday it has added support for the Solana blockchain to expand Web 3.0 access for the browser’s 15.5 million daily users. See related article: What decentralization can offer Web 3.0 and social media | Part 1 Fast facts The Brave Wallet can now be used to buy, sell and hold Solana-based cryptocurrencies. […]

A Terra employee has been accused of embezzlement. Meanwhile, a crypto mining farm has been found in Russia’s oldest prison.

China’s state-backed infrastructure Blockchain-based Service Network (BSN) announced on Tuesday that it is preparing the launch of BSN Spartan on Aug. 31, a new international network for non-cryptocurrency public chains. See related article: Resist the temptation on NFTs, Chinese state-backed developer says Fast facts “We’re not against public chains, but we’re against crypto,” BSN developer […]

Authorities and Bitcoin miners play a cat-and-mouse game as miners find means to stay off the government radar and dodge crackdowns.

Reserve Bank of India (RBI) governor Shaktikanta Das said in a local media interview that the central bank has rightly been cautioning against cryptocurrencies, following the collapse of Terra’s UST and LUNA.  See related article: RBI calls for crypto ban in India, again Fast facts Das told CNBC TV18 on Monday that if crypto had […]

Hang Seng Index Company launched the China Metaverse Index on Monday to track the performance of 30 metaverse-related listed businesses in Hong Kong, Shanghai and Shenzhen.  See related article: Asian Games set for digital yuan, metaverse pilots, tech firm claims Fast facts Hang Seng Index Company is a subsidiary of major Hong Kong bank Hang […]

Terra’s LUNA and UST implosion is dragging down an already ailing market. What do other developments suggest about crypto’s long-term future?

A deputy warden of Russia’s oldest prison has allegedly mined cryptocurrency in the facility and is under investigation on suspicion of stealing electricity to do so, Bitcoin.com reported on Monday. See related article: To stay relevant, crypto regulations need to evolve, decentralize: Crypto Rising Fast facts The deputy manager of Butyrskaya prison in central Moscow […]

Seoul Metropolitan Police Agency’s Cyber Crimes Investigations Unit revealed on Monday that it has received a report alleging a Terraform Labs employee was involved in embezzling corporate funds, according to local media reports. See related article: Terra’s S.Korean office closure ‘purely coincidental’: Do Kwon Fast facts The police are currently investigating the validity of the […]

Defense contractor Lockheed Martin and the Filecoin Foundation have partnered to demonstrate the InterPlanetary File System (IPFS) in space, the pair announced on Monday at the World Economic Forum in Davos, Switzerland. See related article: Filecoin explained: Decentralizing cloud storage for Web 3.0 Fast facts Filecoin is the economic incentive layer of the distributed storage […]

Terra co-founder responds to office closure allegations. Meanwhile, China re-emerges as a crypto mining hub despite 2021 ban.

Solana’s $325M Wormhole breach and Axie Infinity’s $600M Ronin hack laid bare the security risks of cross-chain bridges. What are the solutions?

Startup platform Farandole has a plan to transform the traditional wine industry with NFTs, cryptocurrency and blockchain technology.

The Twitter account of non-fungible token (NFT) artist Mike Winkelmann, widely known as Beeple, was briefly hacked on Sunday and used to promote a phishing scam to drain over US$72,000 from Ether wallets of victims.   See related article: Twitter hacker takes over verified accounts to promote fake Azuki NFT drop Fast facts The hacker shared […]

Russia’s invasion of Ukraine has shown that cryptocurrency regulations need to expand beyond the jurisdiction of a single government and blockchain technology can help with that, said panelists at ‘Crypto Rising,’ a series of virtual monthly events organized by Forkast.

Terraform Labs CEO and cofounder Do Kwon claimed on Saturday that the closure of two offices in South Korea was “purely coincidental,” and not a response to the national tax authorities’ investigation. See related article: LKB, 5 clients file lawsuit against Terra, Do Kwon to ‘Grim Reaper’ Fast facts Terraform Labs closed its two offices […]

Tether, the operator of the world’s largest stablecoin USDT, has seen US$10 billion of its market capitalization shaved off since TerraUSD’s (UST) collapse.  See related article: Nearly half of Tether reserves are now in US Treasury bills Fast facts USDT’s market capitalization was at US$73.35 billion at the time of publishing, following an all-time high […]

European Central Bank (ECB) President Christine Lagarde said cryptocurrencies are “worth nothing” on a Dutch television program aired Sunday, calling for greater regulation over what she described as “highly speculative assets.” See related article: EU to introduce bill next year to plan a digital euro Fast facts “My very humble assessment is that [cryptocurrency] is […]

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 […]

South Korean LUNA investors file lawsuit against Terra. Meanwhile, Singapore’s High Court blocks sale of a Bored Ape NFT.

The Commonwealth Bank of Australia (CBA) has paused the launch of crypto trading on its app amid heightened volatility in the crypto market, The Guardian reported.    See related article: Commonwealth Bank first in Australia to offer crypto trading Fast facts Australia’s largest bank announced its plans to allow customers to trade up to 10 cryptocurrencies, […]

In an exclusive interview with Forkast, the lawyer representing the claimant discusses what the result means for NFTs and digital ownership.

Crypto exchange FTX.US has introduced FTX Stocks for select U.S. customers to allow stock trading and exchange-traded funds (ETFs) through its app. See related article: FTX reaches US$32B valuation after closing $400M series C Fast facts FTX.US will provide commission-free stock market trading where orders will be routed to Nasdaq through its clearing firm Embed, […]

Terra has increased its initial token float — tokens that are tradable upon issuance — from 15% to 30% for pre-attack Anchor Protocol UST stakers (aUST) and post-attack LUNA and UST holders, in the latest update to the plan to revive its reeling ecosystem. See related article: No hard fork, governance vote in Kwon’s updated […]

Commercial paper backing Tether (USDT), the world’s largest stablecoin, has decreased by 17% from US$24.2 billion in Q4 2021 to US$20.1 billion in Q1 2022, according to Tether’s latest attestation report.  See related article: Tether slashes commercial paper, shows more reserves than liabilities Fast facts Commercial paper in Tether reserves has been reduced by an […]

Sony Music Entertainment has set up a new Greater China venture for its American label RCA Records to explore opportunities in streaming, non-fungible tokens (NFTs) and the metaverse. See related article: John Legend’s OurSong raises US$7.5 mln to fuel music NFTs Fast facts The new label, dubbed “RCA Records Greater China,” will make key hires […]