Indian Olympic medalists to get free cryptocurrencies
Indian athletes who have won medals at the Tokyo Olympics have been promised free cryptocurrencies by Indian crypto exchange Bitbns, according to a report by the Economic Times. Fast facts Bitbns will create systematic investment plans denominated in Bitcoin and Ethereum worth around US$2,695 for gold medalists, US$1,348 for silver medalists and US$674 for bronze […]
New York Times article explores underbelly of memecoins
A revealing feature article on the hidden world of “hypecoins” was published by the New York Times yesterday, in which journalist David Segal recounted the process of creating and then selling his own hypecoin, which he called IdoitCoin. Fast facts Hypecoins, otherwise known as memecoins, are tokens with little or no intrinsic value, created only […]
Ether price and trading volume surging as Ethereum upgrade goes live
Ethereum’s London hard fork sees a smooth launch as the crypto market sends Ether’s price soaring.
Venezuela launches CBDC amid runaway inflation and currency redenomination
In an effort to curb runaway inflation, Venezuela’s central bank is removing six zeros from its currency and putting a digital bolivar into circulation on Oct. 1, according to reporting by Bloomberg. Fast facts An example of a central bank digital currency, the digital bolivar was announced by the Venezuelan central bank’s Twitter account yesterday […]
China continues e-CNY pilot; Google allows crypto advertising
China continues e-CNY pilot also Google allows crypto advertising
Ethereum rising: 3 reasons why Ether’s price could soon break $3,000
Will Google greenlighting US crypto ads, Ethereum’s London upgrade and clearer regulations pave the way for another Ether price rally?
Google lifts crypto advertising ban
In a long-awaited reversal of a 2018 policy decision, Google will allow crypto exchanges and wallets to advertise on its platform in the U.S. But not everyone’s happy.
The9 expands to Kazakhstan with new crypto mining joint venture
The9 Ltd., a Chinese gaming company that only a few months ago pivoted to crypto mining, has signed a term sheet through a company unit with an enterprise in Kazakhstan to set up a joint venture. The move is a bid to ramp up crypto mining operations in the Central Asian nation. Fast facts Nasdaq-listed […]
DBS Bank’s digital exchange assets surge 60% in Q2
DBS eyes bigger investor base as digital assets under custody top US$100 million.
Rothschild’s RIT Capital leads funding round for Aspen Digital to provide crypto services for institutional investors
Hong Kong-based Aspen Digital, a digital asset management platform for institutional investors, announced on Wednesday that it has secured US$8.8 million in pre-A funding to develop a one-stop shop for asset managers to invest in digital assets and manage their clients’ portfolios. Fast facts The funding round was led by RIT Capital Partners, the London-based […]
Could Ethereum’s upgrade affect miners’ manipulations for extra profits?
Cryptocurrency miners are front-running Ethereum transactions to make profits called MEV that critics decry as unfair. What can be done about it?
How blockchain can bring litigation finance to small investors
Investing in litigation was once limited to the wealthy. But a lawsuit’s monetary potential can now be tokenized for sale to the masses. Is that a good idea?
Ethereum upgrade closely watched; India launches e-RUPI voucher
Ethereum upgrade closely watched also India launches e-RUPI voucher
Taxing times for crypto. Ethereum hard fork takes knife to fees. Tencent bets on NFTs.
Top blockchain and crypto news: Is Ethereum’s price flatlining on eve of revolution? Uncle Sam wants pay to play. China’s Big Tech toes the line with NFTs.
Canaan grows crypto rig sales as Chinese miners tool up abroad
North America emerges as hardware demand hotspot amid Beijing’s regulatory onslaught against cryptocurrency sector.
Ethereum prices hit resistance as major London Upgrade looms
ETH rose in a historic run in anticipation of ‘Ethereum halving’ — but dipped on the eve of the London hard fork. Forkast.News asks top cryptocurrency analysts to find out why.
Mastercard partners with Australian exchange for crypto card
In a further move towards cryptocurrency adoption, Mastercard has partnered with one of Australia’s oldest crypto exchanges, CoinJar, to launch one of the country’s first crypto payment cards. Fast facts The card became available on Tuesday in a digital form through integration with Apple Pay and Google Pay, and will be available in a physical […]
SEC chair labels crypto industry ‘Wild West,’ asks for more powers
The cryptocurrency trading industry has been labeled a “Wild West,” riddled with fraud and investor risk, by U.S. Securities and Exchange Commission Chair Gary Gensler, according to a Reuters report. Fast facts Calling on Congress at the Aspen Security Forum to give the SEC more power to regulate the industry, Gensler said many of the […]
Bitcoin SV suffers a new 51% attack
Bitcoin SV has suffered another 51% attack beginning around 11:45 am EDT on Tuesday resulting in up to three versions of the chain being mined simultaneously, as initially reported by analytics firm CoinMetrics.io. It is the fifth such attack on the network since late June. Fast facts Further reporting by the firm reported all of […]
HSBC blocks UK customer payments to Binance
Binance’s woes continue to mount as global banking giant HSBC is now blocking its customers in the United Kingdom from making credit card payments to Binance, according to Yahoo News. Binance is the world’s largest cryptocurrency exchange. Fast facts HSBC’s move follows similar actions taken by NatWest — a Scotland-based bank with 12.5 million customers […]
Ethereum addresses using DeFi soar 65% to over 2.9M
The Ethereum ecosystem is continuing to see strong growth, with institutional capital ‘flooding’ into decentralized finance and decentralized autonomous organizations flourishing.
Hong Kong crypto crime surges; Tencent launches NFT platform
Hong Kong crypto crime surges as Tencent launches NFT platform.
Blockchain applications that will change the world in the next 5 years
The next half decade will see mass adoption of decentralized technology, writes Max Kordek of Lisk. Here are the leading uses.
Crypto mining rig maker Canaan names new CFO
Cryptocurrency mining rig manufacturer Canaan has announced the appointment of James Jin Cheng as its new CFO, following the resignation of his predecessor in February. Fast facts Cheng was previously vice president of Chinese internet recruiting platform Zhaopin Ltd., which listed on the New York Stock Exchange in 2014 before being taken private in 2017. […]
Singapore poised to grant one of first approvals to crypto exchange Independent Reserve
Australian cryptocurrency exchange Independent Reserve said Monday that it had received an “in-principle approval” for a Major Payment Institution License in Singapore to operate as a regulated digital payment token (DPT) service provider, according to a company statement. Fast facts Founded in Australia in 2013, Independent Reserve set up its first overseas operations in Singapore […]
Crypto crimes surge to record levels in Hong Kong
Crypto-related crime has hit record levels in Hong Kong for the first six months of this year, with one victim losing HK$124 million (US$15.95 million) to fraudsters, according to the South China Morning Post. Fast facts Hong Kong police recorded 496 such cases totaling HK$214.4 million (US$27.58 million) in just the first half of this […]
Will Facebook’s metaverse future transform how we live online?
Facebook CEO Mark Zuckerberg has a vision for metaverses — online worlds that one day will replace big parts of our offline lives. But some say that future is already here.
China maintains crypto market pressure; J-Pop stars offer NFT advice
China maintains crypto market pressure. On the other hand, J-Pop stars offer NFT advice.
Chinese central bank shows no sign of softening stance on crypto
People’s Bank of China vows to keep sector under ‘heavy pressure’ as it pushes digital yuan.
Binance in Malaysia ban as it ends derivatives trading in Germany, Italy, Netherlands
World’s biggest cryptocurrency exchange steps up compliance and cuts product offerings, with a ban in Malaysia and end of lucrative derivatives business in three EU nations.
U.S. infrastructure bill could bring sweeping regulatory changes to crypto
A provision in an infrastructure bill being debated by the U.S. Senate has prompted concerns in the crypto industry as it boosts Internal Revenue Service reporting requirements for investors and brokers. Fast facts According to the New York Times, the provision is an effort to help fund a US$ 1 trillion bipartisan bill and could […]
Singapore crypto financial services unicorn Matrixport closes fundraise
Matrixport, a Singapore-based digital asset financial services platform, today announced the completion of a series-C funding round, bringing the company’s valuation to more than US$1 billion. Fast facts The funding round was led by partners of DST Global, C Ventures and K3 Ventures, with other investors including Qiming Venture Partners, CE Innovation Capital and Tiger […]
Busan plans digital asset exchange; Tencent launches digital IOUs:
Busan plans digital asset exchange meanwhile Tencent launches digital IOUs.
Bitcoin mining difficulty rising again as miners resettle and get back to work
The global Bitcoin hashrate is now on an uptrend as miners pushed out by China resettle on friendlier shores and resume investing big money in mining equipment.
India admits it has no good data on crypto exchanges, despite years of debate over regulations
Speaking to Parliament, India’s finance minister reveals that the government does not know how many crypto exchanges India has nor the number of crypto users.
Crypto exchange FTX.US daily trading volumes jump 150-fold in a year
FTX.US, the U.S. affiliate of Hong Kong-based cryptocurrency exchange FTX, saw its average daily trading volumes soar 150-fold in June compared to the same month a year before, according to the company’s mid-year results. Fast facts The company reported that FTX.US had a daily volume that ranged between US$150 million and US$1 billion in the […]
IMF wants to be part of world’s transition to a digital economy
The International Monetary Fund says it has a mandate to help countries around the world adopt and adapt to digital currencies, but only if the digital money is in the public interest — which Bitcoin is not, according to an IMF report published yesterday. Fast facts While the IMF recognizes the potential benefits of digital […]
Here are Japan’s crypto investing bottlenecks, according to new report
Japan’s crypto-asset business association published a report yesterday that highlights issues in crypto investing for the country’s institutional investors. Fast facts This report is an update of the latest use cases and projects from the “Discussion Paper Interim Report on Cryptocurrency Use Cases” published on May 7, 2021, and is a supplementary material to the […]
Robinhood closes 8% down in underwhelming IPO
Robinhood’s hotly-anticipated market debut had an underwhelming start on Thursday, closing 8% down on its debut price of US$38, according to data from TradingView.com. Fast facts Trading under the ticker HOOD, Robinhood’s stock had an immediate rocky start, falling 10% before recovering slightly. But HOOD still ended the day at US$34.82. As Forkast reported recently, […]
Chinese authorities swoop on 380 suspected crypto and wire fraud groups in 1H 2021
Wire fraud, including cryptocurrency-related fraud, becomes fastest-growing crime as scams — some even involving China’s digital yuan project — proliferate.
Over 220 million people are now crypto users, says new report
The number of crypto users around the world grew to 221 million in June, double the number in January, according to a report released today by Hong Kong-based cryptocurrency exchange, Crypto.com. Fast facts Bitcoin drove the growth in crypto use from January to April, with companies such as Microstrategy, PayPal, Tesla and Visa buying into […]
Crypto retirement plans are on the rise. Are they a good idea?
Tokenization is creating new ways to invest. 3 crypto firms are partnering to also offer crypto retirement portfolios and inheritance planning.
India admits no crypto data; Korean crypto investor numbers plummet
Number of new South Korean crypto investors have tanked in the month of June as crypto mining investments boom outside China.
Is Bitcoin mining hot again? These crypto insiders think so
Despite China’s crackdowns on Bitcoin mining and growing consternation about crypto mining’s carbon footprint, some miners are betting big on a rosy future.
Number of new crypto investors in South Korea drops over 90%
New data provided by lawmaker Kim Hee-gon shows a significant decline in new users and the amount of transactions on the four largest cryptocurrency exchanges in South Korea. Fast facts The data aggregated by the four largest crypto exchanges in Korea — Upbit, Bithumb, Korbit and CoinOne — shows that their total of new users […]
Iran’s electric utility issues warning about Chinese crypto miners
Iranian state electric company Tavanir has warned judicial officials about Chinese cryptocurrency miners coming to Iran, an influx that could worsen the country’s power outage problems, according to local media reports. Fast facts Tavanir CEO Mohammad Hussein Motevallizadeh said in a letter published by local news website Eghtesadnews that the Chinese government’s crackdown on crypto […]
Crypto mining rig giant Bitmain divests from AntPool, the world’s biggest mining pool
Bitmain’s move comes amid China’s crypto mining crackdowns and AntPool’s shrinking hashrate. Is Bitmain gussying up for an IPO?
PayPal unveils plan to greatly expand crypto services
PayPal customers will soon have access to a greater range of crypto services through the global payment platform, CEO Dan Schulman said during PayPal’s Q2 2021 investor update call yesterday. Fast facts Describing the upgrade as “code complete,” Schulman said the wallet should be fully available for customers in the Unite States in the next […]
Stoner Cats cause trouble on Ethereum as NFT cartoon goes live
Sales of non-fungible tokens for “Stoner Cats,” the new adult cartoon featuring Ethereum creator Vitalik Buterin alongside Hollywood A-listers, resulted in losses totaling 344.6 ETH (US$790,000) to fans yesterday due to the influx of buyers who overwhelmed the Ethereum network and failed transactions, according to data from Dune Analytics. Fast facts The show, which sold […]
Battle for blockchain talent is heating up. What and where are the crypto jobs?
Flush with capital, blockchain and crypto firms are on a hiring spree. Here’s how the battle for crypto talent is playing out.
Blockchain developer platform Biconomy Raises $9M, led by Mechanism Capital
Biconomy, a Singapore-incorporated technology company building transaction infrastructure for blockchain applications, today announced it had raised US$9 million in a private funding round led by digital asset fund manager DACM and investment firm Mechanism Capital, according to a company statement. Fast facts Other investors included Coinbase Ventures, Coinfund, Huobi Innovation Labs and Stani Kulechov, founder […]
Bitmain spins off Antpool; Binance CEO willing to step down
Binance CEO CZ confirms that a new executive may lead the organization. Meanwhile, Bitmain spins off one of the world’s largest mining pool Antpool.
Robinhood readies IPO as risks cast shadow over future earnings potential
The fee-free trading platform’s initial public offering promises plenty of action for retail investors, but pitfalls may lie in wait amid trading volatility and wider adoption of business model.
Amazon’s brush with Bitcoin. Robinhood IPO looms. Huobi backs out of Beijing.
Top blockchain and crypto news: Is Amazon taking up BTC? Robinhood’s share sale deserves scrutiny. Did Huobi jump or was it pushed?
Bank of Thailand promotes blockchain in new guidelines
Thailand’s central bank yesterday published guidelines to regulate and promote the use of blockchain technology in the financial sector. Fast facts Released by Siritida Panomwon Na Ayudhya, assistant governor of the payment systems policy and financial technology group at the Bank of Thailand, the guidelines provides principles for blockchain technology adoption by financial services providers. […]
South Korean crypto exchanges warned over treatment of customers
The Korea Fair Trade Commission has advised eight cryptocurrency exchanges to changes terms and conditions in their user agreements that it deems unfair to customers. Fast facts The commission discovered 15 types of terms and conditions that it said were unfavorable to customers. One condition stipulated that balances of less than a minimum withdrawal amount […]
Binance CEO reiterates willingness to replace self, beefs up KYC
Binance also tightens withdrawal limits and unveils new tax reporting tool, to counter recent flurry of government investigations and bad publicity.
Dogecoin for dog food at Brazil’s Burger Kings
In the latest effort of crypto cross-promotion, Burger King Brazil is now accepting the memecoin Dogecoin as payment for a “Dogpper” — a special edible doggie treat for customer’s pets and a play on words of the fast-food chain’s famous burger, the Whopper. Fast facts The doggie treat is not new to Latin America. Burger […]
Mastercard launches new crypto startup accelerator program
In an effort to “expand and accelerate innovation around digital asset technology”, Mastercard is launching a new global program to support cryptocurrency startups by giving them access to Mastercard’s business network and technology. Fast facts Announced yesterday, Mastercard’s Start Path program already has signed up seven crypto-related startup companies: GK8, Mintable, Stacs, Supraoracles, Taurus, Uphold […]
Digital asset custody platform Fireblocks completes $310 million fundraise
Capital increase takes company’s valuation to US$2 billion as it looks to grow customer base, partnerships.
Huobi deregisters Beijing entity; K-drama takes crypto back in time
Huobi deregisters Beijing entity while K-drama takes crypto back in time
What’s Ethereum price outlook for the rest of 2021?
Ethereum’s future is top of mind for a group of fintech experts polled by Finders. Where do they think Ethereum prices are headed, and will Ethereum overtake Bitcoin?
South Korean authorities to collect delinquent taxes from crypto cold wallets
South Korea’s newly amended tax law will allow authorities to collect delinquent taxes hidden in cryptocurrency cold wallets. Fast facts The Ministry of Economy and Finance yesterday announced the 2021 Tax Law Amendment, which grants authorities the power to seize delinquent taxes transferred to crypto holdings. The seized crypto will be sold on exchanges and […]
OKEx parent’s USDK stablecoin revenue dives almost 90%
OKG Technology Holdings, the parent company of crypto exchange OKEx, suffered an 89.8% year-on-year slump in revenue from operating Ethereum stablecoin USDK, its FY 2021 annual report shows. Fast facts Its USDK revenue was just HK$159,000 (US$20,470). Currently, USDK, which launched in 2019, has a market cap of US$28.68 million and a circulating supply of […]
Huobi’s stock plunges in Hong Kong as it shuts Beijing unit
Closure of blockchain business may be related to regulatory concerns, but unlikely to hit crypto industry hard, observers say.
Philippine Digital Asset Exchange user numbers skyrocket
The Philippine Digital Asset Exchange, a cryptocurrency trading platform licensed by the central bank of the Philippines, now has more than 450,000 users, a 22.5-times increase from 2019, the bourse has told local media. Fast facts PDAX Chief Executive Nichel Gaba said many Filipinos were crypto-curious, which explained why the number of traders on the […]
Crypto gets starring role in South Korean historical drama TV series
A cryptocurrency-themed TV drama series with a historical twist is currently in production in South Korea, depicting the make-believe arrival of a cryptocurrency in the country’s ancient Joseon Dynasty. Fast facts “The Age of Money,” as the show will be known, follows a fictional king trying to get to the bottom of an “invisible” brass […]
Tether rejects claims of renewed scrutiny over suspected bank fraud
World’s largest stablecoin dismisses report suggesting possibility of U.S. investigation, despite claims of recent Justice Department interest and track record of legal woes.
Goldman applies to launch decentralized finance ETF
As regulation permitting the establishment of Bitcoin exchange-traded funds remains stalled in the U.S., Goldman Sachs has officially applied for an ETF offering exposure to companies in decentralized finance and blockchain. Fast facts In a recent filing to the U.S. Securities and Exchange Commission, the bank said its fund — the Goldman Sachs Innovate DeFi […]
Singapore crypto license applications in final stages of review
Singapore’s central bank is in the final stages of reviewing applications for licenses to provide crypto services, including payments and the operation of cryptocurrency exchanges, according to Tharman Shanmugaratnam, minister in charge of the Monetary Authority of Singapore (MAS), which regulates financial institutions in Singapore. Fast facts To date, Singapore has received over 480 crypto […]
Bit Mining pivots overseas; Ethereum creator joins ‘Stoner Cats’ cast
Bit Mining pivots overseas as Ethereum creator Vitalik Buterin joins animated crypto series ‘Stoned Cats’ cast.
Bybit contributes $19M to BitDAO in ETH, USDT and USDC to support DeFi growth
Singapore-based crypto derivatives exchange Bybit today announced it had made a US$19.3 million contribution in Ethereum (ETH), Tether (USDT) and USD Coin (USDC) to BitDAO, one of the world’s largest decentralized autonomous organizations, which it helped launch last month. Fast facts Many crypto projects, especially those in decentralized finance, have organized themselves as DAOs for […]