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Tether to offer new sterling-pegged stablecoin, GBPT

Tether said it will launch a new stablecoin pegged to the British pound sterling in early July, the issuer of the world’s largest stablecoin, USDT, announced Wednesday. See related article: Tether market cap shrinks below US$70B, lowest since October 2021 Fast facts Tether’s announcement comes a week after Circle, the operator of the world’s second-largest […]

Bitcoin mining difficulty reading drops 2.35% in latest adjustment

Bitcoin mining difficulty dropped by 2.35% on Thursday, after recording a 1.3% increase earlier this month, according to data from BTC.com. See related article: China’s Guizhou province to slap backdated power charges on uncovered crypto miners Fast facts The mining difficulty reading is now at 29.57 trillion at a block height of 741,888, according to […]

Bitcoin, cryptocurrencies return to red with soaring UK inflation

Bitcoin dropped below US$20,000 for the third time in a week on Thursday morning in Asia as news of record inflation in the U.K. and warnings of a recession hit crypto markets. See related article: Crypto on a roller coaster as market braces for Fed guidance on rates Fast facts Bitcoin was trading down 3.5% […]

Crypto winter ushers in account freezes as platforms feel the chill

Top blockchain and crypto news: Investors snowed in as liquidity crunch hits. Solend harpoons anti-whale maneuver. Chinese NFTs prove a tricky target.

Singapore grants Crypto.com in-principle approval toward offering payment services

The Singapore-based cryptocurrency exchange Wednesday said the approval toward a license will eventually allow it to offer a range of payment services in the city-state. See related article: Singapore warms up to crypto industry — on its own terms Fast facts Crypto.com has received an in-principle approval from the Monetary Authority of Singapore (MAS) for […]

Calls for policing NFTs gain ground as fraud cases rise

A perceived failure to address increasing fraud in the NFT industry prompts calls for regulation and the adoption of a more centralized approach to weed out bad actors.

STEPN’ing it up with crypto move-to-earn

Enticed by promises of crypto rewards, Joel Stein hits the streets of Los Angeles with a beautiful NFT sneaker. What does he earn — and learn?

Chinese maker of virtual garment designing software raises nearly US$100 mln

Linctex Digital Technology, headquartered in China’s southeastern province of Zhejiang, Tuesday said the pre B+ round included commitments from existing investors Hillhouse Ventures and CDH Investments. See related article: Fashion, art, games and community: What does a decentralized metaverse mean for you? Fast facts Linctex’s software allows designers to create virtual wear, digitize physical fabric, […]

Celsius community adopts GameStop tactics to squeeze out short sellers

Crypto lender Celsius Network’s native token CEL saw an uptick of around 50% on Tuesday as community members attempted a short squeeze.  See related article: CEL down over 50% since Celsius Network’s withdrawal freeze Fast facts In a short squeeze, bulls attempt to buy out the underlying asset to push up its price and make […]

Pumped by Elon Musk, Dogecoin gains amid slow market recovery

Dogecoin and Shiba Inu have been staging a strong comeback since Elon Musk came out on Sunday supporting the former. See related article: Has ‘Crypto Winter’ arrived with Bitcoin, Ether prices falling? Fast facts Dogecoin rose more than 15% in morning trade on Wednesday in Asia, according to CoinMarketCap data. The memecoin rose to a […]

Cardano delays Vasil blockchain upgrade, citing bugs and ‘abundance of caution’

Input Output Global (IOG), the development company that runs the Cardano blockchain, on Monday said it will postpone the testnet of the network’s Vasil hard fork to the end of June, citing software bugs and a focus on quality and security. See related story: Cardano’s Alonzo Purple testnet begins onboarding users Fast facts The engineering […]

Valar Ventures-backed Vauld to lay off 30% of staff

The Singapore-based cryptocurrency exchange said the actions of a “few market participants” are creating a lot of uncertainty in the eyes of customers. See related article: ‘Buckle up’ for downsizing crypto market as employees laid off Fast facts The layoffs impact every team with marketing and talent acquisition departments being affected the most, as Vauld […]

China’s Guizhou province to slap backdated power charges on uncovered crypto miners

Another Chinese province has introduced higher retroactive electricity charges for cryptocurrency mining projects when they are discovered, a form of financial penalty on the banned activity. See related article: China seizes over 3,500 Bitcoin mining rigs, hikes electricity rates Fast facts The Guizhou Provincial Development and Reform Commission on Monday said any uncovered cryptocurrency mining […]

BTC Markets first crypto firm to win Australian Financial Service License

Australian cryptocurrency exchange BTC Markets announced on Tuesday it has become the first crypto firm to receive an Australian Financial Service License (AFSL) from the Australian Securities and Investments Commission (ASIC). See related article: What does the new Australian Labor government mean for the crypto industry? Fast facts BTC Markets says the license will enable […]

S.Korea blocks ex-Terra employees from leaving country amid investigation

Prosecutors said they also wish to interview Terraform Labs Chief Executive Officer Kwon Do Hyung as part of an investigation into the multibillion dollar collapse of the company.

Chinese NFT platform apologizes for using Hong Kong movie star Louis Koo’s images

Lianwan, a Chinese “digital collectibles” platform that sells blockchain-based images, had claimed it was working with the Hong Kong action star. But Koo’s agency has denied any involvement. See related article: Storm in a teacup? WeChat bans account for flipping NFTs Fast facts On Saturday, Lianwan apologized for using Hong Kong action star Louis Koo […]

Crypto is based on the greater fool theory: Philippines’ incoming central bank chief

Felipe M. Medalla, an economist slated to be the next governor of the Philippines central bank, is not interested in regulating crypto, which he believes is based on “the greater fool theory.”  See related article: Philippines gets new government, will new crypto taxes follow? Fast facts “The only reason you’re using this [cryptocurrencies] is you […]

Bybit to cut up to 30% of its workforce

Dubai-based crypto derivatives exchange Bybit is looking to cut up to 30% of its staff to reduce costs, journalist Colin Wu reported on Twitter, citing anonymous sources.  See related article: Coinbase, biggest US crypto exchange, cuts workforce by 18% Fast facts “This was not an easy decision to make,” a Bybit spokesperson told Forkast in […]

Crypto self-custody is no longer a choice. It’s an imperative.

Celsius and Babel Finance’s freezing of customer accounts highlights the risks of intermediaries, writes Nick Saponaro. Crypto users should take back control.

Storm in a teacup? WeChat bans account for flipping NFTs

The ban comes as Chinese companies seek to comply with Beijing’s diktat against speculative activity in non-fungible tokens (NFTs). See related article: China’s diktat against NFT flipping spawns an ingenious industry Fast facts WeChat banned the official account of a Chinese NFT platform for “business activities related to secondary trading of digital collectibles or cryptocurrency.” […]

Babel Finance says liquidity pressure eased with new debt agreements

Hong Kong-based Babel Finance announced on Monday it has reached “preliminary agreements” on debt repayments to counterparties following a redemption and withdrawal freeze instituted last Friday. See related article: Contagion risk from Three Arrows Capital weighs on Bitcoin, crypto Fast facts A preliminary restructuring of the debt repayment period has “eased” the company’s short-term liquidity […]

ProShares to launch Bitcoin short ETF

ProShares will launch a short Bitcoin-backed exchange-traded fund (ETF) on the New York Stock Exchange (NYSE), the U.S.-based ETF issuer announced on Monday. See related article: Bitcoin price hits all-time high after ProShares ETF debut Fast facts ProShares Short Bitcoin Strategy ETF is scheduled to begin trading on the NYSE on Tuesday under the ticker […]

Tax, bear market temper India’s enthusiasm for NFTs

High taxes amid a bear market are tempering the enthusiasm for NFTs among Indians. But industry participants expect the country’s unique cultural and demographic characteristics to provide a long-term fillip to the industry.

You can’t spell nonprofit without ‘NFT’

More than a passing fad, NFTs can empower philanthropic organizations in ways never thought possible before, writes Nick Lynch of Collidescope.io.

Solend DAO overturns vote to take over at-risk ‘whale’ wallet

The decentralized autonomous organization (DAO) behind Solend, a Solana-based lending protocol, overturned Sunday’s governance vote that would have allowed it to take control of a wallet at risk of liquidation. See related article: Contagion risk from Three Arrows Capital weighs on Bitcoin, crypto Fast facts Solend DAO on Monday voted to overturn Sunday’s decision that […]

Bitcoin investments will grow ‘immensely’: El Salvador president

El Salvador President Nayib Bukele took to Twitter on Sunday to reassure Bitcoin investors, claiming such investments are safe and will grow “immensely” after the bear market. See related article: El Salvador’s Bitcoin adoption, one week on Fast facts “My advice: stop looking at the graph and enjoy life. If you invested in #BTC your […]

S. Korea’s 20% crypto tax delayed by two more years

South Korea is delaying its planned crypto tax on digital assets for another two years, Ministry of Economy and Finance tax policy chief Ko Kwang-hyo announced on Thursday. See related article: S.Korea finance minister nominee wants to delay crypto tax for two years Fast facts A 20% tax on crypto asset gains was scheduled to […]

Elon Musk pumps Dogecoin amid lawsuit

Dogecoin (DOGE) has gained 11% since billionaire Elon Musk said that he would continue to support and buy the cryptocurrency. See related article: Bitcoin, crypto return to red after rate hike rally wears off Fast facts According to CoinMarketCap data, the memecoin was up more than 12% in the past 24 hours to US$0.05788 on […]

JD.com tops US$60 mln in digital yuan sales in 618 shopping festival

Chinese online retail platform JD.com reported 400 million yuan (US$60 million) in digital yuan sales at the “618” shopping festival, accounting for about 0.1% of the event’s total sales.  See related article: Double Eleven: 240,000 orders by e-CNY on top e-commerce platform Fast facts See related article: China’s zero-Covid policy realigning global economy, financial markets

Binance didn’t buy US$2B worth of Bitcoin, founder Changpeng Zhao says

Binance did not buy US$2 billion worth of Bitcoin as reported by media over the weekend, its founder and chief executive officer Changpeng Zhao said on Monday in a tweet. See related article: Bitcoin recovers above US$20K after weekend slump Fast facts At least two news sites reported that Binance had bought the dip and […]

Bitcoin recovers above US$20K after weekend slump

Bitcoin’s price recovered above the US$20,000 mark Monday morning in Asia after falling to as low as US$17,708 on Sunday — its lowest point since December 2020 — according to CoinMarketCap. See related article: Bitcoin, Ether recover as Fed guidance reduces policy uncertainty Fast facts The world’s largest cryptocurrency gained more than 7% in the […]

Game theory: What’s holding back an explosion of play-to-earn?

Despite its rising popularity, GameFi has lessons to learn from Web 2.0 and elsewhere before it can gain a comparable user base, says Ethlas chief Wui Ngiap Foo.

Contagion risk from Three Arrows Capital weighs on Bitcoin, crypto

After a short-lived recovery, Bitcoin, Ether and other cryptocurrencies are trading lower on fears of a contagion risk from a possible financial implosion at Three Arrows Capital.

Hong Kong to research retail CBDC cybersecurity with Israel, BIS

The Hong Kong Monetary Authority (HKMA) announced a joint research project with the Bank of Israel (BOI) and the Bank for International Settlements Innovation Hub (BISIH) Hong Kong Centre to study cybersecurity issues in retail central bank digital currencies (CBDCs). See related article: Hong Kong now exploring retail CBDC in upcoming Project Aurum Fast facts […]

NFTs in China must be reviewed: China media watchdog

Digital collectibles in mainland China will enjoy copyright protection only after a review, National Press and Publication Administration blockchain copyright director Liu Tianjiao said. See related article: China’s diktat against NFT flipping spawns an ingenious industry Fast facts See related article: China-run media outlet criticizes NFT platform as a payment risk

Tether market cap shrinks below US$70B, lowest since October 2021

The market capitalization of Tether, the world’s largest stablecoin, has dipped to an eight-month low of US$69.4 billion, according to CoinGecko data. See related article: Tether, USDT market cap has dropped by US$10B since UST collapse Fast facts Tether’s market cap has fallen almost US$3 billion since June 14 as investors pull out in a […]

Elon Musk faces possible class-action lawsuit over Dogecoin losses

Keith Johnson, a U.S. investor in the Dogecoin cryptocurrency, has filed a US$258 billion class-action lawsuit against Elon Musk and two of the companies he heads, alleging illegal behavior to manipulate the memecoin’s price.   See related article: What is the real value of joke coins like Dogecoin and SHIB? Fast facts The lawsuit alleges: “Since […]

USDC operator Circle introduces new Euro Coin stablecoin

USD Coin (USDC) creator Circle announced on Thursday it will release the Euro Coin (EUROC), a redeemable stablecoin pegged to the euro, on June 30. See related story: US$500 mln in USDC added to TRON DAO USDD reserve Fast facts Ethereum-based EUROC will join Circle’s USDC, which is the world’s second-largest stablecoin with over US$54 […]

BlockFi among those that foreclosed on Three Arrows Capital: report

BlockFi CEO Zac Prince Thursday said the U.S.-based crypto lender foreclosed on a “large client that failed to meet its obligations” following reports that BlockFi was part of the lenders group that canceled some US$400 million in loans made out to Three Arrows Capital (3AC). See related article: Client accuses Bitcoin, Ethereum backer Three Arrows […]

Bitcoin, crypto return to red after rate hike rally wears off

Thursday’s crypto market recovery was short-lived as most major tokens fell by at least 7% in the past day, with Bitcoin trading within reach of US$20,000 for the first time since December 2020. See related article: Bitcoin, Ether recover as Fed guidance reduces policy uncertainty Fast facts The world’s largest cryptocurrency fell up to 10% […]

Huobi closes Thai crypto unit, regulator revokes license

Huobi Thailand will shut its cryptocurrency trading platform’s Thailand unit on July 1 after the country’s Securities and Exchange Commission (SEC) revoked its license. See related article: Can Thailand emerge as a ‘crypto-positive’ travel destination? Fast facts Huobi Thailand said the firm will no longer have any connections or legal bindings with Huobi Group following […]

Client accuses Bitcoin, Ethereum backer Three Arrows Capital of misappropriating funds

The crypto hedge fund got called out on social media Thursday for allegedly misappropriating US$1 million to cover risks of insolvency.

Bitcoin, Ether recover as Fed guidance reduces policy uncertainty

Despite short-term volatility weighing on prices, an inevitable easing of monetary policy in response to the pandemic and other crises means Bitcoin and other cryptos will find value as a hedge against runaway inflation, market participants tell Forkast.

Tencent, Alibaba, ByteDance have the most potential in the metaverse: report

The Chinese tech giants lead a list of the country’s top 200 companies with the most potential in the metaverse, according to rich list compiler Hurun Report. To be eligible, firms needed to have a market capitalization of US$1 billion or more.  See related article: ‘Metaverse’ enters government radar at China’s Two Sessions Fast facts […]

A few large trades likely broke UST’s peg: Chainalysis

Analysis by the blockchain data platform found the collapse of TerraUSD (UST) took place in three stages — a few large trades broke UST’s peg triggering a selloff, there were attempts to restore the peg, but continued selloff finally drained all funds. See related article: Run on UST cuts the ground from under Terra’s feet Fast facts […]

Coinbase lays off 8% of its India workforce

The job cuts in India were much lower than the global average of about 18%, a senior executive at the Nasdaq-listed cryptocurrency exchange said.  See related article: Coinbase, biggest US crypto exchange, cuts workforce by 18% Fast facts The largest cryptocurrency exchange by trading volume in the U.S. Wednesday said about 8% of its India […]

Yahoo, Meta look to Hong Kong for metaverse tests

Yahoo will host virtual concerts and exhibitions featuring celebrities and influencers for Hong Kong residents on the Decentraland metaverse, the company announced on Wednesday. See related story: Hong Kong’s subway operator plans virtual station in metaverse Fast facts Yahoo is also launching a non-fungible token (NFT) exhibition called The Abyss of Kwun Tong to recreate […]

Bitcoin, Ethereum, TRX recover as Fed bumps rates by 75 bpt

Bitcoin and other cryptocurrencies responded positively to the U.S. Federal Reserve’s move to raise interest rates by 75 basis points on Wednesday — the largest single increase since 1994 — in an effort to curb rising inflation. See related article: Crypto on a roller coaster as market braces for Fed guidance on rates Fast facts […]

Cryptocurrencies take a pounding as inflation worries spark sell-off

Top blockchain and crypto news: Cryptos sink as inflation rises. Celsius freeze sends CEL token tumbling. Are Inner Mongolia’s miners catching a break?

Crypto on a roller coaster as market braces for Fed guidance on rates

Crypto markets posted some gains in Asia trading after a pummeling this week, but the sentiment shifted back to negative as markets across the board try to second-guess the Federal Reserve’s thinking on interest rates.

Has ‘Crypto Winter’ arrived with Bitcoin, Ether prices falling?

After what seems like a dead cat bounce, cryptocurrencies are falling again in Asian trade as markets head into the Federal Reserve’s announcement of its decision on interest rates on June 15.
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Celsius said to be hiring restructuring attorneys, exploring financing options

Amid the ongoing insolvency risk, crypto lender Celsius has hired restructuring attorneys from the law firm Akin Gump Strauss Hauer & Feld LLP, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. See related article: CEL down over 50% since Celsius Network’s withdrawal freeze Fast facts Celsius is exploring financing options […]

Coinbase, biggest US crypto exchange, cuts workforce by 18%

U.S.-based cryptocurrency exchange Coinbase will cut its global workforce by about 18% to ensure it stays “healthy during this economic downturn,” CEO Brian Armstrong said in a blog post. See related article: Coinbase is the first crypto firm to make the Fortune 500 list Fast facts Coinbase will cut approximately 1,100 employees, or 18% of […]

Michael Saylor, MicroStrategy stick to their guns on Bitcoin

MicroStrategy CEO Michael Saylor says the company will not have a margin call on their US$205 million Bitcoin-backed loan after their crypto holdings dropped by over US$1 billion over the past week, according to data from CoinGecko.  See related article: MicroStrategy, crypto firm shares plunge with Bitcoin’s freefall Fast facts When MicroStrategy adopted a Bitcoin […]

US crypto bill could undermine market protections: SEC, Gensler

The recently proposed U.S. cryptocurrency bill could undermine the existing regulatory framework for broader capital markets, Securities and Exchange Commission (SEC) Chairman Gary Gensler said on Tuesday. See related article: Hold onto your crypto bags, the regulators are coming Fast facts Speaking at the Wall Street Journal’s CFO Network Summit, Gensler said many crypto companies […]

Crypto market slumps; USDD depegging fears

USDD loses its dollar parity. Meanwhile, Binance resumes Bitcoin withdrawals.

Bitcoin, Ether bear brunt of market selloff amid fears of Fed rate increase

Still recovering from the Terra-LUNA debacle that wiped off billions of dollars in investor wealth, people sold off cryptocurrencies amid a market slump over expectations that the Fed will act faster to tame inflation.
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Binance resumes Bitcoin withdrawals

Binance, the world’s largest crypto exchange by trading volume, has resumed withdrawals on its Bitcoin (BTC) network after a short pause early on Monday, according to an official statement. See related article: CEL down over 50% since Celsius Network’s withdrawal freeze Fast facts On his verified Twitter handle, CEO Changpeng Zhao said the issue was […]

Why Web3 will be critical to countering a dystopian ‘splinternet’

As the internet fractures into silos degraded by censorship and disinformation, DAOs and public blockchains may offer ways to restore trust.

MicroStrategy, crypto firm shares plunge with Bitcoin’s freefall

MicroStrategy is leading Marathon, Riot and Coinbase in a cryptocurrency-exposed stock selloff, closing down over 25% on Monday, as the firm’s Bitcoin holdings dropped by around US$1 billion.  See related article: MicroStrategy posts Q1 revenue loss amid falling Bitcoin price Fast facts MicroStrategy became entangled with Bitcoin after founder Michael Saylor added record amounts to […]

The metaverse isn’t a fad but part of the future economy

An open and interoperable metaverse economy will drive consumer activity — and it’s on a similar track for growth as e-commerce, writes Ben Caselin of AAX.

South Korean exchanges cooperate to prevent another Terra-LUNA debacle

To protect the country’s investors, South Korea’s top five crypto exchanges are forming a joint council to monitor the listing and delisting of cryptocurrencies. See related article: S. Korea finance regulator to audit Terra and related exchanges Fast facts Upbit, Bithumb, Coinone, Korbit and Gopax, five exchanges authorized to provide cash-to-crypto services in Korea, will […]

Manny Pacquiao is launching NFTs in memory of dog ‘Pacman’

Philippines senator and boxing legend Manny Pacquiao is launching non-fungible token (NFT) project Pacman to commemorate his late Jack Russell Terrier. See related article: Are PewDiePie, Manny Pacquiao and Spencer Dinwiddie riding the blockchain wave? Fast facts The cartoonish boxer dog-themed NFT collection pays tribute to Pacquiao’s pet Pacman, who was accidentally run over by […]

Accepting crypto payments a priority for majority of US retailers: Deloitte

The survey by one of the Big Four accounting firms found over 85% of U.S. merchants are prioritizing the enabling of cryptocurrency payments while around 83% are doing the same for stablecoins. See related article: AMC rival Regal enables crypto payments for moviegoers Fast facts The survey found that 87% of merchants believe accepting crypto […]

Inner Mongolia’s closure of crypto mine operations slows since September

Inner Mongolia has closed 49 cryptocurrency mining farms in total, but only four since September, according to the Inner Mongolia Daily, indicating either the process has been successful or the shutdown drive mandated by Beijing is slowing. See related article: Beijing banned crypto mining, so China miners went underground Fast facts See related article: Crypto […]

Bitcoin price drops more than 8% as higher-than-expected inflation spooks markets

Bitcoin, Ethereum, Solana and other major altcoins dropped significantly over the weekend, as U.S. equity markets faced one of their worst weeks in months. See related article: Has Bitcoin become a victim of its own success? Fast facts Bitcoin dropped 8.3% over the past 24 hours to US$25,240.08, according to CoinMarketCap data, as higher-than-expected inflation […]

Tokenized assets can bring trillions of dollars to DeFi: JPMorgan, Onyx

JPMorgan Chase & Co. blockchain business unit Onyx aims to bring trillions of dollars in tokenized assets to decentralized finance (DeFi), Onyx head of digital assets Tyrone Lobban said at CoinDesk’s Consensus 2022 conference.  See related article: JPMorgan sees upside for Bitcoin, crypto amid market downturn Fast facts “Over time, we think tokenizing U.S. Treasurys […]

India’s crypto tax a blessing in disguise, stockbroker says

Indian crypto investors got lucky after February’s tax announcements reduced trading activities ahead of the market crash, Nithin Kamath, founder and CEO of online stockbroker Zerodha said. See related article: Short selling is good for any market, including crypto: Jim Rogers Fast facts “Even when trading stocks, the biggest reason for losses is trying to […]

Helium announces new token to scale 5G in multi-network expansion

The Helium Network, a decentralized wireless network, announced a model expansion on Saturday to address the demand for unlimited wireless protocols. See related article: Fantom releases upgrades to enhance speed, scalability, and decentralization Fast facts The Helium Network, which rewards crypto to users for deploying hotspots and providing network coverage, has launched over 848,000 hotspots […]

On the shoulders of a giant: How a huge state fund is nurturing Web3

Singapore investment behemoth Temasek has been in the digital asset space for several years, and it’s doubling down on its commitment, says its blockchain chief.

Next step for spot Bitcoin ETF in the US may be a courtroom battle

It’s been a ‘Waiting for Godot’ experience for the crypto industry regarding US approval of a spot Bitcoin ETF. A decision next month by the SEC could bring a lift to crypto markets or be a boon to lawyers.

Do Kwon and Terra lose appeal to impede SEC investigation

The order said Do Kwon and Terraform Labs had sufficient contact with the US for the Securities and Exchange Commission to investigate it for possible violations of federal securities laws.