Search results: Forkast.News

Concerns over power supply and cost uncertainties have prompted Singapore-based Bitcoin miner SAI.TECH (SAI) to terminate the remainder of its expansion plans in Kazakhstan, the Nasdaq-listed company said in a statement. See related article:  Bitcoin rig maker Canaan to deploy self-mining soon in US, executive says Fast facts SAI has terminated the second phase of […]

Crypto trading platform ZB.com, which halted withdrawals on Tuesday citing maintenance, may have been hacked to the tune of US$4.8 million, blockchain analytics firm PeckShield said on Wednesday. See related article: Nomad Bridge alerts law enforcement amid US$200 mln attack Fast facts According to PeckShield, hackers drained 21 different tokens from ZB.com, including USDT, USDC, […]

The U.S. Senate Agriculture Committee introduced a bill on Wednesday to put the Commodity Futures Trading Commission (CFTC) at the helm of regulating all cryptocurrencies classified as commodities.  See related article: US crypto bill could undermine market protections: SEC, Gensler Fast facts The bill would give the CFTC “exclusive jurisdiction” over all “digital commodities,” which […]

Kim Seo-joon, head of South Korean blockchain venture capital (VC) fund Hashed, said in an interview with Bloomberg he lost most of his LUNA investments during the crash in May but is planning a third VC fund in the first half of 2023. See related article: Scarred by Terra-LUNA, South Korea moves ahead with digital […]

MicroStrategy’s share price jumped nearly 15% in early trading on Wednesday in the U.S. following Tuesday’s announcement that current CEO Michael Saylor is stepping down from that role to become executive chairman and will lead the company’s Bitcoin acquisition focus. See related article: MicroStrategy CEO Michael Saylor moves to chairman role to focus on Bitcoin […]

As wages stagnate and prices spiral, crypto offers investment and growth opportunities unmatched by the traditional financial system, writes Tarik Moon, CEO of Alpine.

The massive Solana wallet exploit that began on Wednesday Hong Kong time is believed to be related to the Slope mobile wallet app, while there is no evidence to show the blockchain’s code was compromised, Solana said. See related article:  Bitcoin, Ethereum little changed; Solana still lower after network hack Fast facts See related article: […]

Binance has named cofounder Yi He as the new head of its incubator and venture capital (VC) arm Binance Labs, as the world’s largest cryptocurrency exchange by trading volume works to invest in “projects with the tenacity to thrive in tough market conditions.” See related article: Calling a spade a spade holds Binance’s lesser known […]

South Korean entertainment agency Fantagio announced Wednesday a memorandum of understanding (MOU) with digital asset platform Crypto.com to pursue non-fungible token (NFT) projects, according to local reports. See related article: Dunamu’s NFT venture with BTS’s HYBE to launch services later this year Fast facts KOSDAQ-listed Fantagio manages K-pop idol groups such as ASTRO and Weki […]

The Ethereum layer-1 chain should eventually “stop changing completely,” to provide stability on the base layer, Ethereum cofounder Vitalik Buterin said in a conference in Seoul on Thursday. See related article: Prominent Chinese ETH miner plans proof-of-work fork amid The Merge Fast facts “If a layer-1 tries to do everything, there are a lot of […]

Bitcoin was trending lower to little-changed in early Asia trading on Thursday with most major cryptocurrencies losing ground. Solana remained lower after reports of a hack on its network. Bitcoin was priced at US$22,848 as of 8 a.m. in Hong Kong, off 0.6% in the last 24 hours. Ethereum dipped 0.8% to US$1,615, according to […]

Top blockchain and crypto news: Filecoin leads in market uptick. CryptoPunks in new glow as Tiffany jewelry. Chinese firms flock to Singapore.

Nomad loses US$200 million after over 300 suspected of participating in the hack. Meanwhile, Michael Saylor moves from CEO to Chairman of Microstrategy.

Solana fell 4% in Asia afternoon trading on Wednesday as reports surfaced of a hack that had drained thousands of wallets holding the token. Bitcoin and Ethereum edged higher, though U.S.-China tensions were a broader concern across all markets. Bitcoin traded at US$23,187 as of 4:30 p.m. in Hong Kong, up 1.47% in the prior […]

Beijing’s drive to stamp out crypto mining and the slump in crypto prices are headwinds that Canaan says it knows how to deal with, adding that the crypto winter may be shorter than expected.

Crypto platform Zipmex on Aug. 2 began to resume the withdrawal of certain altcoins such as Solana, Ripple and Cardano, the firm said in a blog post, after it halted customer withdrawals on July 20.  See related article: Zipmex seeks moratorium from creditors in Singapore court Fast facts From Aug. 2, Zipmex users could withdraw […]

Approximately 7,767 wallets have been affected in the Solana exploit as of 1 p.m. Hong Kong time. Solana-based wallets Slope and Phantom are on the list, Solana said. See related article: Cardano users said to be indirectly affected by Nomad’s US$200 mln exploit Fast facts See related article: Waves community approves repayment plan for lending […]

An Indian firm providing crypto tax calculation services is introducing a software as a service (SAAS)-based solution to tackle India’s myriad crypto taxation regime. See related article: India’s latest tax assault on crypto exchanges starts Friday Fast facts SAAS-based TaxCryp software aims to simplify tax computation, compliance and reporting requirements, India-based TaxCryp Technologies said on […]

Gucci has further embraced cryptocurrencies, announcing in a tweet on Tuesday that it is accepting in-store purchases with ApeCoin through payment service provider BitPay. See related article: How high fashion is waking up to blockchain’s possibilities Fast facts ApeCoin is a cryptocurrency tied to Bored Ape Yacht Club (BAYC), a non-fungible token (NFT) project created […]

Bitcoin is the worst option for increasing the efficiency of cross-border payments while stablecoins occupy an intermediary position, the European Central Bank (ECB) said in a study published Monday.  See related article: Cryptocurrency is worthless: ECB Christine Lagarde Fast facts Central bank digital currencies (CBDCs) and domestic instant payment systems have the highest potential for […]

Monday’s attack on Nomad indirectly affected Cardano users as the protocol was one of multiple bridges deployed to Milkomeda C1, a layer 2 protocol which allows Ethereum decentralized apps (dApps) to be deployed in the Cardano ecosystem, Milkomeda said. See related article: More than 300 addresses said to perpetrate Nomad’s US$200 mln exploit Fast facts […]

The New York Department of Financial Services (NYDFS) slapped a US$30 million fine on the crypto arm of trading app Robinhood on Tuesday for allegedly violating the bank secrecy act, anti-money laundering, and cybersecurity regulations. See related article: Sam Bankman-Fried buys 7.6% of Robinhood; stock jumps Fast facts The financial regulator also asked the firm […]

Layer 1 blockchain Waves, which has been mired in a liquidity crisis, will go ahead with a revival plan recently approved by the community behind its decentralized finance (DeFi) lending protocol Vires.Finance, to allow certain account holders to withdraw funds or keep their positions for later repayment. See related article: Waves’ Neutrino USD loses peg […]

MicroStrategy CEO Michael Saylor is stepping down to become executive chairman “to focus more on our Bitcoin acquisition strategy and related Bitcoin advocacy initiatives,” according to a company statement released Tuesday. See related article: Vitalik Buterin calls MicroStrategy’s Michael Saylor a ‘total clown’ Fast facts According to the statement, this will allow the company to […]

More than 300 bad actors stole US$191 million from Nomad’s cross-chain bridge which resulted from a software upgrade that backfired, crypto analytics firm PeckShield told The Block on Tuesday. See related article: Nomad Bridge alerts law enforcement amid US$200 mln attack Fast facts A routine software update on one of Nomad’s smart contracts allowed users […]

Bitcoin was trending lower in early Asia trading on Wednesday with most major cryptocurrencies falling. Bitcoin was priced at US$23,048 as of 8 a.m. in Hong Kong, down 1.2% in the prior 24 hours. Ethereum was little changed at US$1,643, up 0.3%, according to data from CoinMarketCap. See related article: Bitcoin, Ethereum lose ground; Polkadot […]

In an update to its followers on Tuesday evening Asia time, cross-chain bridge Nomad said it is working to identify the attacker and recover the funds after an exploit drained nearly US$200 million on Monday. See related article: Nirvana’s ANA token down more than 80% after US$3.5 mln hack  Fast facts “We are working around […]

Is the flippening coming soon? And NFT sales drop 25% in July as the crypto winter continues.

Stefan Chu, who used to head over-the-counter (OTC) trading at TPS Capital, has left the organization as the company seeks to distance itself from the bankrupt hedge fund Three Arrows Capital (3AC), according to a report by The Block.  See related article: MAS takes aim at Three Arrows Capital, does not impose penalty Fast facts […]

Crypto investments totaled US$474 million in July, mostly reversing outflows of US$481 million in June, even as Solana (SOL) witnessed year-to-date inflows of US$114 million, a report by Coinshares said. See related article: Ethereum needs scalability to retain market share: report Fast facts See related article: ETH crosses Bitcoin in options market for first time […]

The People’s Bank of China (PBoC) has listed the “orderly expansion of the scope of the digital yuan pilot” as one of its key tasks in the second half of the year, according to a Tuesday press release from the Chinese central bank’s second-half-year work plan. See related article: Covid-19, postponed Asian Games to push […]

The cryptocurrency market is trading down in general, with Bitcoin and Ethereum down 2.2% and 6.1% over the past 24 hours in Tuesday evening trade in Hong Kong. See related article: ETH crosses Bitcoin in options market for first time in history Fast facts Bitcoin was trading at US$22,843.99, while Ethereum was changing hands at […]

Bank of America (BofA) has said Ethereum needs improvements in scalability in order to retain its market share from newer blockchains such as Binance Smart Chain, Tron, Avalanche and Solana, according to a CoinDesk report.  See related article: Ethereum will soon turn 7 — and its upcoming ‘Merge’ will be well worth the wait Fast […]

Ahead of Ethereum’s upcoming “Merge,” prominent Chinese crypto miner Chandler Guo has indicated he wishes to fork Ethereum to maintain a version of the network that remains proof of work (PoW), according to a report by Decrypt. See related article: Ethereum will soon turn 7 — and its upcoming ‘Merge’ will be well worth the […]

Market analysts are mixed on outlook for non-fungible tokens, as some see mostly gloom, others point to glimmers of optimism.

Binance and Paxos Trust Company, which issues the dollar-pegged stablecoin BUSD (Binance USD), released the first unaudited breakdown of the reserves backing the token on Aug. 1. See related article: Binance spent over US$1B on compliance, founder Changpeng Zhao says Fast facts According to the reserve report, BUSD was backed by US$738 million in cash, […]

South Korea’s non-fungible token (NFT) collection MetaKongz’ price on OpenSea NFT exchange has fallen over 17% on average after alleged in-house problems such as hacking and differences among its executives. See related article: Hyundai Card building its first NFT marketplace and wallet service Fast facts The price of MetaKongz NFTs on OpenSea in the last […]

Blockchain payments company Ripple released 1 billion of XRP from three escrow accounts on August 1, pushing the price of its native token down by 3.4% in the past 24 hours, according to CoinGecko data. See related article: SEC fails to block XRP holders from aiding in Ripple case Fast facts In December 2017, Ripple […]

Defi Payments, the parent company of troubled Singapore-based crypto exchange Vauld, received court approval to protect the platform from potential lawsuits for three months. See related article: Singapore crypto lender Vauld reportedly owes retail investors US$363  million Fast facts See related article: Zipmex seeks moratorium from creditors in Singapore court

Binance founder and CEO Changpeng Zhao Monday said the world’s largest cryptocurrency exchange by trading volume spent over US$1 billion on compliance efforts with its market share continuing to increase. See related article: Binance’s Changpeng Zhao sues Bloomberg publisher in HK Fast facts Zhao Monday said on his verified Twitter handle that a recent CoinDesk […]

Ethereum blockchain’s native token Ether (ETH) has surpassed Bitcoin (BTC) in the options market for the first time on Deribit exchange. See related article: Tether will support ETH 2.0 amid speculations of Merge delay Fast facts The cumulative dollar value of Ether options contract opens on Deribit was around US$5.7 billion, while open Bitcoin options […]

A stolen painting may be lost forever, but a fraudulent Bitcoin transaction — with these legal strategies and tracing tools — can lead right to the criminal.

Major cryptocurrencies were lower in early Tuesday trading in Asia, with Ethereum losing 3% in the past 24 hours to trade at US$1,634 as of 8 a.m. in Hong Kong. Bitcoin dipped 0.2% to trade at US$23,267, according to data on CoinMarketCap. See related article: Bitcoin, Ethereum fall back after posting monthly gains for July […]

Chiliz (CHZ) cryptocurrency jumped as much as 25% on Monday evening in Asia after announcing a US$100 million investment in FC Barcelona’s Barça Studios for a 24.5% stake in the soccer club’s digital content and distribution hub. See related article: South Korea’s Ifland metaverse dives into play-to-earn Fast facts Under the partnership, Socios.com and Chiliz […]

Digital Treasures Center (DTC) became the latest firm to receive the Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) to become a regulated Digital Payment Token (DPT) services provider, the company announced on Monday.  See related article: Singapore’s central bank says cryptocurrencies have ‘no fundamental value’ Fast facts A full license […]

The ETH2 merge could once again be delayed. Meanwhile, Vitalik Buterin calls Michael Saylor “a total clown”.

Bitcoin and Ethereum were trading lower by 1.3% and 0.4% over the past 24 hours in Monday evening trade in Hong Kong. See related article: Bitcoin, Ethereum fall back after posting monthly gains for July Fast facts Bitcoin was trading down 1.3% at US$23,331.73 over the past 24 hours at 5:20 p.m. HKT on Monday, […]

The new product will help over 20 million KuCoin users to access blue chip non-fungible tokens (NFTs) through direct purchases with USDT, instead of ETH, the cryptocurrency exchange said.  See related article: KuCoin dismisses rumors, eyes India for growth: report Fast facts KuCoin is partnering with Fracton Protocol and will initially list five NFT exchange-traded […]

Europe’s Digital Markets Act will soon take power over personal data away from Big Tech and give it back to the people. How can data cooperatives help?

Crypto exchange CoinFLEX has let go a “significant number” of employees to cut costs and focus on its core business, according to a blog post published by the platform’s cofounders Sudhu Arumugam and Mark Lamb. See related article: ‘We’re in a crypto super cycle,’ says CoinFLEX CEO Fast facts The staff cuts and non-staff costs […]

The U.S. Federal Deposit Insurance Corporation (FDIC) clarified in a statement on Friday that it only protects insured bank customers in case a bank fails, and not assets issued by crypto companies.  See related article: Crypto lender Voyager ordered to stop misleading claims over deposit insurance Fast facts The FDIC’s comments come a day after […]

Bitfinex and Tether’s chief technology officer Paolo Ardoino said on Sunday that Tether plans to support ETH 2.0, amid widespread speculations that the Merge may get delayed yet again.  See related article: Ethereum one step closer to Eth2 with Ropsten testnet merger Fast facts While the Merge has been delayed multiple times, developers said it […]

Ethereum cofounder Vitalik Buterin has taken a shot at MicroStrategy chief executive officer Michael Saylor, calling him a “total clown” after the latter called the world’s second-largest cryptocurrency “inherently unethical.” See related article: Crypto continues tear while Vitalik Buterin says Eth2 ‘not priced in’ Fast facts “Why do maximalists keep picking heroes that turn out […]

Vitalik Buterin predicts the metaverse will be built, but any existing corporation trying to intentionally build one will not succeed, adding that efforts by Meta (formally Facebook) to do so will “misfire.” See related article: Will Facebook’s metaverse future transform how we live online? Fast facts In a Twitter thread over the weekend, the Ethereum […]

Terry Gou, founder of Apple iPhone maker Foxconn, Saturday said that fraudsters have been using his images to promote cryptocurrency scams and that he has never invested in the crypto industry. See related article: Foxconn pledges to boost metaverse development this year Fast facts In a Facebook post on Saturday, the Taiwanese mogul said through […]

An employee on the foreign exchange team of South Korea’s BNK Busan Bank allegedly embezzled 1.48 billion Korean won (US$1.1 million) in customer funds to invest in Bitcoin, local media reported. See related article: Illegal foreign exchange trading with Bitcoin ‘Kimchi Premium’ probed in S.Korea Fast facts The employee, whose name was not released, reportedly […]

Bitcoin ended July trading at US$23,737 for a monthly gain of nearly 24% — its highest since October last year when it rose 40%. Ethereum gained about 60% in July. See related article: Bitcoin, Ether rally continues in Friday afternoon trading in Asia Fast facts Bitcoin fell about 1% on Monday morning in Asia, with […]

As the once febrile crypto market cools, it’s time to look again at the enterprise capabilities of blockchain, says the Hyperledger Foundation’s Daniela Barbosa

A lack of certainty over future regulation and a long lockdown in Shanghai are pushing some Chinese Web3 companies to set up shop in Singapore.

The cryptocurrency market continued its rally in afternoon trading in Asia on Friday, with Bitcoin and Ethereum up 4.4% and 5.7%, respectively, over the past 24 hours. See related article: Crypto continues tear while Vitalik Buterin says Eth2 ‘not priced in’ Fast facts Bitcoin was at one point changing hands above the US$24,000 mark in […]

The U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler Friday reiterated the agency’s attempt to bring cryptocurrency exchanges under oversight and “register where appropriate as securities.” See related article: US crypto bill leaves ‘open question’ on securities: Tessler Fast facts See related article: SEC fails to block XRP holders from aiding in Ripple case

The Law Commission of England and Wales recommended classifying cryptocurrencies and non-fungible tokens (NFTs) as a new type of property in a consultation paper published on Thursday. See related article: Basel Committee starts public consultation on banks’ crypto asset exposures Fast facts The Law Commission, an independent statutory body responsible for reviewing and reforming laws, […]

The APE decentralized autonomous organization (DAO) approved a proposal to fund the 24-hour news website covering BAYC creator Yuga Labs and the community on Thursday.  See related article: Majority of ApeCoin token holders vote to stay on Ethereum Fast facts The Bored Ape Gazette website will become a 24-hour style news site complete with a […]

Solana-based decentralized finance protocol Nirvana Finance was exploited in a flash loan attack for US$3.49 million on July 28, the firm announced in a Twitter post, causing its tokens to topple by more than 80%. See related article: C.R.E.A.M. Finance suffers $28M flash loan hack Fast facts Using flash loans on lending protocol Solend, the […]

Digital assets company Komainu has received a provisional license from the Dubai Virtual Assets Regulatory Authority (VARA) to offer cryptocurrency products and services to institutional clients in Dubai, CoinDesk said in a report.  See related article: Dubai could be crypto’s promised land, Citi says Fast facts Komainu is the latest to receive approval from Dubai […]

U.S. banking regulators have ordered crypto lender Voyager Digital to stop making “false and misleading” claims that its customer’s funds were insured by the government. See related article: Three Arrows, Voyager failures raise questions of who is next in crypto fall from grace Fast facts The Federal Reserve and the Federal Deposit Insurance Corp (FDIC) […]

Terraform Labs and affiliates allegedly ramped up the numbers of its decentralized finance (DeFi) service Anchor Protocol by investing their own capital, a claim that South Korean prosecutors are currently looking into, state broadcaster KBS reported. See related article: S.Korea slaps ‘notification upon arrival’ on Terra’s Do Kwon Fast facts The local media outlet claims […]

Zipmex is seeking protection from potential claims or adverse actions for six months, citing “all efforts to focus on resolving the liquidity situation,” according to an announcement by the crypto exchange. See related article: Zipmex targets raising US$50 mln to cover exposure to embattled crypto lenders Fast facts See related article: Babel Finance says liquidity […]

Chinese crypto mining rig maker Canaan is ramping up its mining business and will soon start self- or joint-mining operations in the U.S., Edward Lu, a senior vice president of Canaan, told Forkast in an interview on Thursday. See related article: Bitcoin rig maker Canaan reports over US$200 mln in Q1 revenue Fast facts “Today […]

The crypto market continued its tear overnight Thursday in Asia with Bitcoin and Ethereum trading up 4% and 6%, respectively, in the 24 hours before business hours on Friday. See related article: Crypto, traditional markets see bump as Fed raises rates Fast facts Bitcoin was changing hands at its highest point in over a week […]

Forkast x CryptoSlam! are proud to present Moments in NFT History — an explainer video series hosted by Forkast’s Joel Flynn that gives you a front-row seat to history-in-the-making. We’ve talked about NFTs being turned into sports memorabilia, but what comes after? Well, in this episode, we are quite literally talking about epic sports moments. […]

Bitcoin and Ethereum see significant gains in spite of Fed rate hike. Meanwhile, Dubai Police announces NFT launch.