Ethereum founder Vitalik Buterin to star with Mila Kunis in NFT-based show
As non-fungible tokens make their way into TV with a new funding model and method of building community, who better to lead a project than the head of Ethereum himself?
Chinese crypto firms donate millions of yuan to flood-hit Henan
Three blockchain and crypto-related companies have donated hundreds of millions of yuan to China’s Henan Province, which has suffered deadly floods since last week. Fast facts Bitmain, a crypto mining firm was the first to announce a donation of 10 million yuan (US$1.54 million) on July 23 to a charity federation in Zhengzhou, the provincial […]
Binance expands in Singapore amid global crackdown
Binance, the world’s biggest cryptocurrency exchange by trading volume, appears to be expanding its Singapore office. At the time of publishing, Linkedin showed that it had 261 job vacancies in Singapore — where its CEO, Changpeng Zhao, allegedly lives — among 964 vacancies globally. Fast facts The talent Binance is seeking ranges from futures growth […]
Bitcoin price surges to almost $40K as Asia wakes to Amazon crypto reports
Led by traders in Asia, Bitcoin saw its biggest one-day gain in over a month amid speculation that Amazon is getting into crypto.
Bitmain joins hands with Kazakhstan mining farm Enegix to host rigs
Chinese cryptocurrency mining rig maker Bitmain has partnered with Enegix, which runs one of the biggest crypto mining data centers in Kazakhstan, to host its Antminer machines in the Central Asian nation. Fast facts Bitmain said in a statement on Friday that it had joined hands with Enegix, a data center operator in Kazakhstan, to […]
BIT Mining to exit lottery business for crypto mining expansion
BIT Mining — a New York Stock Exchange-listed company that only months ago became a big investor in Chinese cryptocurrency mining — has decided to exit its Chinese lottery-related business and focus more on mining outside the country. Fast facts BIT Mining, formerly known as 500.com, has operated online sports lottery services, but announced on […]
Singapore crypto take-up reaches 43% of adults
Cryptocurrencies are gaining traction in Singapore, especially among younger investors. A survey of 1,000 Singaporeans carried out by Toluna, a consumer insights provider, has shown that 43% of Singaporeans own crypto and that 74% of them have increased their wealth by using it as an investment. Fast facts The survey is said to have been […]
Crypto-ransomware connection draws U.S. Senate scrutiny
Amid growing concerns surrounding ransomware attacks in the U.S., Senator Gary Peters has announced a bipartisan investigation of how cryptocurrencies could be facilitating such activity, Bitcoin.com reports. Fast facts In a statement, Sen. Peters, who is also the chairman of the Homeland Security and Governmental Affairs Committee, said: “The increased use of cryptocurrencies as the […]
Binance and FTX slash leverage limit from 100x to 20x amid crypto regulations heat
FTX CEO Sam Bankman-Fried says it’s time to move on from high leverage in crypto trading. Binance also seeks new CEO with a stronger regulatory background.
Bitcoin ETF applicant is not surprised by US delays
Valkyrie is among a growing number of asset managers at the SEC’s door, seeking approval to offer a Bitcoin ETF. Will a Bitcoin ETF ever get the green light in the United States?
India issues CBDC update; Korea threatens to block exchanges
India updates its CBDC plans and Korea threatens to block exchanges
Binance chief ‘CZ’ seeks regulatory expert to lead as exchange looks to boost image
Speaking at an SCB 10X DeFi virtual summit, Binance CEO Changpeng Zhao says an IPO is not out of the question, but that the exchange first needs to set up corporate structures as it navigates increased regulatory scrutiny.
Ethereum in spotlight as prices recover, London hard fork looms and Paris conference closes
The cryptocurrency community is watching Ethereum closely, with the EthCC event in Paris having wrapped up, Ether prices showing new strength and the London upgrade just around the corner.
SEC: Commissioners’ statement not relevant to Ripple’s XRP lawsuit defense
US Securities and Exchange Commission staffers say their appointed leaders’ views do not reflect the agency’s stance on Ripple and XRP.
Thai crypto miner found dead after suspected electronics accident
Case could be first fatality associated with mining, although hot-running equipment has history of starting fires.
EL Salvadorans protest Bitcoin adoption bill
Demonstrators have gathered outside El Salvador’s National Assembly to protest President Nayib Bukele’s controversial bill to establish Bitcoin as official legal tender in the Central American nation, Decrypt reports. Fast facts Activists gathered despite a three-month ban on protests in the country, which was ostensibly put in place as a Covid-19 preventative measure. Despite the […]
India central bank plans digital Rupee rollout
India plans to implement the country’s digital currency in phases, Reserve Bank of India’s deputy governor Shri T Rabi Sankar said at a webinar organized by the Vidhi Centre for Legal Policy, New Delhi. Fast facts “CBDC (central bank digital currency) will be in the arsenal of most if not all central banks in the […]
NatWest blocks customer payments to Binance
In the latest blow to Binance — the world’s largest cryptocurrency exchange — U.K. bank NatWest is now blocking its customers from making payments to Binance both in the U.K. and abroad, reports Yahoo Finance. NatWest acted after Binance has come under increasing regulatory pressures. Fast facts The move by NatWest — a Scotland-based bank […]
Indonesian regulators play catch-up as crypto investment soars
Indonesia has seen red-hot growth in the crypto asset market, but the country’s regulators are just beginning to get to grips with burgeoning industry and formulate policy responses.
Ping An trials e-CNY; Core Scientific to go public
Ping An trials e-CNY while Core Scientific is the next to get on the SPAC train.
Hyper-realistic virtual influencer Rae mints NFTs
It’s not only real-world idols that look to earn a profit from issuing non-fungible tokens. Rae — a virtual influencer in Singapore rendered through computer-generated imagery and powered by artificial intelligence — is selling “her” first NFTs on Mintable. Fast facts Rae — whose creators’ identities remain mysterious — has dropped her first NFT series […]
U.S. crypto miner Core Scientific to list via SPAC merger
U.S. cryptocurrency miner Core Scientific Holding is set to list on the Nasdaq exchange through a merger with a special-purpose acquisitions company, boosting the value of the combined business to around US$4.3 billion. Fast facts Core Scientific, one of the biggest crypto mining companies in the U.S., announced yesterday that it had entered into merger […]
Australian bourse warns of centralized exchange crypto custody risks
ASX, which operates Australia’s stock market, says the custody of cryptocurrency held on centralized exchanges presents a significant cybersecurity risk to investors, and recommends that regulatory action be taken to protect digital assets. It made the comments in a submission to the country’s Senate Select Committee on Australia as a Technology and Financial Center. Fast facts […]
Tesla ‘most likely’ will accept Bitcoin again, once environmental targets are met, says Musk
Tesla CEO Elon Musk said while Bitcoin mining is steadily becoming more environmentally friendly through the use of renewable energy, he is not yet sure that it’s enough for Tesla to resume accepting the cryptocurrency as payment for purchases. Fast facts Speaking at the virtual Bitcoin event “The ₿ Word” with fellow panelists Twitter CEO […]
India’s crypto community plays for time as New Delhi dithers on regulation
The prospect of a ban on cryptocurrencies has haunted the industry for years, but it appears to be receding as delayed rules give policymakers time to think before they act.
FTX closes record fundraise; China Mobile gets hot wallet patent
FTX closes record fundraise. Additionally, China Mobile gets hot wallet patent.
FTX’s $900 million deal. Dogecoin in the doghouse. Digital yuan dragnet.
Top blockchain and crypto news: FTX swells to $18 billion valuation. Etherum and Dogecoin disowned by creators. US pols call for Olympics boycott of e-yuan.
Crypto miner ships China-based rigs abroad in deal with U.S. fossil fuels firm
Optimum Mining Host-Black Rock Petroleum plan comes as Canaan seeks greener operations through Czech partnership.
Robinhood seeks market valuation of US$35B in upcoming IPO
Fee-free trading app Robinhood is seeking a market valuation of US$35 billion in its upcoming initial public offering, according to a filing to the U.S. Securities and Exchange Commission. Although the amount is significant, it is lower than the US$40 billion initially estimated, due in part to slow crypto trading in recent months. Fast facts […]
Mastercard partners with USDC to pilot crypto payments
Mastercard has announced a pilot program in partnership with Circle’s USDC stablecoin and others to enable cardholders to pay merchants using cryptocurrency anywhere Mastercard is accepted, according to a company press release. Fast facts USDC will act as an intermediary between fiat and other cryptocurrencies in the new system, allowing all merchants to offer card […]
Kakao’s Ground X wins South Korea’s CBDC bidding war
South Korea’s central bank has named Ground X, Kakao’s blockchain subsidiary, as its partner in the country’s central bank digital currency simulation project. Fast facts Ground X was designated as the preferred bidder, beating out Naver and SK C&C. Ground X has more experience in blockchain than the other bidders, operating public blockchain platform Klaytn […]
FTX crypto derivatives exchange closes record $900M Series B with $18B valuation
Fast-growing FTX just pulled off the largest-ever fundraise for a crypto exchange to date. Will heightened regulatory scrutiny lie in its near future?
Clean-energy crypto mining ETF launches to put an ‘E’ in Bitcoin
As Bitcoin’s carbon footprint continues to make ESG investors uneasy, a new clean-energy crypto mining ETF aims to allay their environmental concerns.
Senators urge E-CNY ban; Russia woos crypto-miners
US Senators urge E-CNY ban while Russia woos crypto-miners
Chinese e-commerce giant Taobao sells NFTs at annual shopping festival
Demand for non-fungible tokens appears insatiable as industry distances itself from crypto sector to avoid crackdown.
Russia looks to tap demand for power as crypto miners flood out of China
Plentiful electricity, cold climate are among drawcards as Chinese mine operators flee crackdown at home.
Turkey to debate crypto regulation bill in October
Turkey’s deputy finance minister says a draft bill to create a cryptocurrency regulatory framework will be submitted to parliament in October, according to a report by CNN Türk. Fast facts The bill will define different types of virtual currencies and principles for their issuance and distribution. The country’s Capital Markets Commission will supervise companies handling […]
Grayscale launches new DeFi fund to woo investors seeking token-free exposure
Cryptocurrency investment manager Grayscale has started a fund focused on decentralized finance tokens and based on CoinDesk’s new DeFi-specific index, the company has said in an announcement. Fast facts The fund offers investors a selection of leading DeFi protocols through a market capitalization-weighted portfolio designed to track the index. It allows investors to allocate funds […]
Bitcoin sees outflows amid inflows for Ethereum, Cardano, XRP in crypto market ‘summer doldrums’
The cryptocurrency market remains quiet, with net inflows of just US$2.9 million last week, according to digital asset investment firm CoinShares’ weekly digital asset fund flows report. Fast facts “The summer doldrums are here, but in line with seasonal expectations,” wrote James Butterfill, a CoinShares’ investment strategist. Bitcoin investment products saw net outflows of US$10.4 […]
Bitcoin’s promise of financial freedom still beckons, academic says
In a special Q&A, Yale-NUS College professor Andrew Bailey says the world’s oldest cryptocurrency has untapped potential to promote liberty, equality and justice around the world.
E-CNY white paper released; Malaysia steamrolls mining rigs
E-CNY white paper explains how it will work with physical RMB while Malaysia steamrolls mining rigs.
Binance CEO says ‘never easy’ running a crypto exchange as ‘new chapter awaits’
Changpeng “CZ” Zhao, the CEO of Binance — the world’s largest cryptocurrency exchange by trading volume — today said it was “never easy” running a crypto exchange in a series of tweets about key products Binance has launched over the past four years. Fast facts “Never easy,” Zhao tweeted, referring to an extract from the […]
DeFi lending platform Aave to ‘build Twitter on Ethereum’
Decentralized lending platform Aave will build “Twitter on Ethereum,” its founder, Stani Kulechov, tweeted during the weekend. His message came seemingly in response to an announcement that Twitter founder Jack Dorsey was developing a Bitcoin-oriented fintech platform resembling Aave. Fast facts Dorsey, who is also CEO of payments company Square, tweeted that the firm was […]
How to solve the Bitcoin energy consumption problem
As the world grapples with crypto mining’s carbon footprint, Nischal Shetty of WazirX examines the technical and regulatory solutions.
Bitcoin mining difficulty drops further as China ban begins to bite
The difficulty of mining Bitcoin has dropped a further 4.81% in its latest fortnightly adjustment, according to data from BTC.com, bringing it to the lowest point since January last year. Fast facts The decline marks the fourth consecutive drop in the difficulty rate for the world’s leading cryptocurrency — the longest slide in its history. […]
Malaysian police are crushing it in illegal Bitcoin mining crackdown
In viral video, Borneo police use a giant steamroller to destroy 1,069 crypto mining rigs that had been caught running on stolen electricity.
Late digitization is Asia’s edge in crypto, says Fireblocks CEO
While the West has first mover advantage in traditional banking, Asia — not wedded to ol infrastructure — now has an edge in the crypto era, says Michael Shaulov of Fireblocks.
Bitcoin interest declines; Rolling Stone gets into NFTs
Bitcoin interest declines while Rolling Stone gets into NFTs.
Binance draws warning over stock tokens from Hong Kong regulator
Hong Kong’s Securities and Futures Commission today issued a warning that Binance — the world’s largest cryptocurrency exchange by trading volume — was not allowed to conduct “regulated activity” in the city, specifically trading in stock tokens. Fast facts In its statement, the SFC said it was aware that Binance was offering stock tokens in […]
South Korean exchanges have delisted 200 cryptos in 2021, lawmaker says
South Korean cryptocurrency exchanges have delisted an estimated 200 crypto coins this year, according to a lawmaker who also says the country’s financial authorities have not prepared appropriate standards for crypto listings and delistings. Fast facts People Party legislator Kwon Eun-hee made the statement in a proposed bill, asserting that 20 virtual asset exchanges in […]
South Korean exchange Bithumb cuts ties with platforms abroad
South Korean cryptocurrency exchange Bithumb announced today that Bithumb Global and Bithumb Singapore will no longer be licensed to use its name after their contracts expire on July 30. Industry experts say the South Korean business’s severing of links with eponymous operations outside the country is designed to prevent any association with possible future money […]
Bitcoin price Google searches at lowest point for 2021. Is BTC still an inflation hedge?
The price of gold is rising with inflation. Then why is ‘digital gold’ Bitcoin’s price stagnant — and public interest in BTC falling to a new low?
Chinese crypto news service forced to shutter site
Bishijie’s suspension deprives users of industry news and community forum as Beijing continues campaign targeting cryptocurrency sector.
Hong Kong finance sector body prepares response to planned virtual asset rules
Hong Kong’s Financial Services Development Council — a cross-sector advisory body established by the government to engage the city’s financial services industry — is putting together industry feedback on the government’s legislative proposals related to virtual assets and virtual asset service providers. Fast facts In May, Hong Kong’s Financial Services and the Treasury Bureau released […]
Axie Infinity fans play their way to payday as game token prices soar
Play-to-earn game Axie Infinity has caught the blockchain community’s attention in the past few months as the price of its governance token has kept rising. Now it’s hit an all-time high, players are earning some serious money.
Court grants Ripple bid to force ex-SEC director to testify in XRP case
Ripple scores major discovery win as judge rules ex-SEC official William Hinman must answer ‘central question’ on Ethereum in the globally-watched case about XRP.
UK finance watchdog to spend £11M to warn young people off crypto investment
Britain’s financial crimes enforcement agency is set to launch a campaign costing £11 million (US$15.2 million) to warn young people about the risks of investing in cryptocurrencies. Fast facts Financial Conduct Authority CEO Nikhil Rathi said social media users aged 18 to 30 would be the target audience. “As with the GameStop episode, more people see investment as […]
Square to build new Bitcoin DeFi platform, says CEO Jack Dorsey
CEO Jack Dorsey announced that his mobile payments company Square has created a new division dedicated to decentralized finance (DeFi) on Bitcoin. For now, Dorsey is referring to the new Square Bitcoin DeFi platform as TBD, having not yet decided on an official name. Fast facts The DeFi space, which has grown exponentially over last […]
India seeks crypto advice; K-drama joins NFT bandwagon
India seeks crypto advice meanwhile K-drama joins NFT bandwagon
Hong Kong raid uncovers suspected US$155M crypto laundering scheme
Tether stablecoins linked to funds funneled to banks in Singapore and elsewhere amid worldwide cryptocurrency crime increase.
Crypto derivatives exchange Bybit launches spot trading for Bitcoin, Ethereum, XRP, EOS
Singapore-based crypto derivatives exchange Bybit today announced the launch of a new cryptocurrency spot trading platform. Fast facts The spot trading platform offered BTC/USDT, ETH/USDT, XRP/USDT and EOS/USDT trading pairs at its launch, and more will be introduced. Traders will be able to buy and sell crypto coins at current market prices once orders are […]
Reserve Bank of Australia is exploring a CBDC — despite skepticism
The Reserve Bank of Australia is researching the implementation of a central bank digital currency — despite not seeing a need for it.
Grayscale’s Bitcoin bounty. Circle’s SPAC listing controversy. NFTs for thieves.
Top blockchain and crypto news: Crypto markets await Bitcoin fund release. USDC issuer opts for the back door. In China, NFT copyrights and wrongs.
ICICI blocks crypto transfers; Korea banks to report crypto crime
ICICI blocks crypto transfers as South Korean banks are to report crypto crime.
New crypto mining firms in China now in scramble to leave
The9 and BIT Mining — non-crypto firms that pivoted to crypto mining during Bitcoin’s boom — now seek to ‘expand’ overseas.
Turkey tells crypto firms to hand controllers’ info to tax office
Turkey’s tax authorities have told companies with cryptocurrency-related business to report information on their ultimate controllers as a part of their tax filings. Fast facts An official document states that the requirement is part of meeting Organisation for Economic Co-operation and Development guidelines on tax transparency. Crypto companies must submit their first filings by Aug. 31 […]
India’s ICICI bank blocks foreign crypto remittances
ICICI bank, one of India’s largest lenders, has warned its customers against using its international remittance services for transferring any form of cryptocurrency, the Bharat Express reports. Fast facts The Industrial Credit and Investment Corporation of India recently made an amendment to an international remittance form compelling customers to declare: “The above remittance is NOT […]
S&P Dow Jones launches 5 new crypto indices
Financial index provider S&P Dow Jones has launched five new cryptocurrency indices, according to a company statement, bringing its total number of crypto indices to eight. Fast facts The most significant of these new indices is the Cryptocurrency Broad Digital Market (BDM) Index, which includes more than 240 coins and can be used for a […]
Crypto derivatives exchange Bybit and Ontario Securities Commission agree on enforcement proceeding schedule
The Ontario Securities Commission in Canada and Bybit, a cryptocurrency derivatives exchange headquartered in Singapore, have come to an agreement on the schedule for Bybit’s upcoming enforcement proceeding, according to the OSC. Fast facts The first hearing between Bybit and the OSC — the agency that oversees securities legislation in Canada’s largest province by population […]
Stablecoins promise much, but can they deliver?
As issuer Circle prepares to list and China sounds the alarm over speculation, the mood among regulators is mixed, despite stablecoins’ clear appeal to investors.
Band Protocol launches Phase 2 to bring off-chain data to DeFi
Oracle platform Band Protocol is aiming to enable data providers like Google Cloud and Bloomberg to work better with decentralized applications.
Korea crypto law applies to Binance; Samsung Next invests in Nifty’s
South Korean financial watchdog says the nation’s crypto laws will apply to foreign exchanges.