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Crypto exchanges face an existential challenge. What can bring users back?

Amid the rubble of FTX and other centralized exchanges, cross-chain technology and on-chain trading offer more trustworthy alternatives, writes Simon Harman of Chainflip.

Bitcoin back above US$24,000, Fed releases February minutes

Bitcoin fell in a mixed morning for the top 10 non-stablecoin cryptocurrencies, with XRP posting the biggest gains in the list and Solana leading losses.
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Hong Kong’s new crypto regulation may lure Web3 firms back, experts say

Hong Kong’s proposed crypto licensing regime received Huobi Global’s pledge to return to the city, and more companies may follow, industry experts told Forkast.

Binance, Ingenico begin crypto payments in France

Binance, the world’s largest cryptocurrency exchange, has partnered France-based global payments giant Ingenico to offer in-store crypto payments in France using Binance Pay.

Web3’s biggest power up: casual games

Web3 gaming could see a huge turn in growth in 2023. Is there potential for this industry to match the growth and performance of the mainstream video game industry?

Blur lives up to name as its trading volume surpasses OpenSea

Top blockchain and crypto news: Blur’s success spurs changes at OpenSea. Is Binance eyeing US exit? Taiwan asset disclosure rules may include crypto.

Markets: Bitcoin, Ether extend losses; Polygon, Solana biggest losers

Bitcoin and Ether fell in Wednesday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization.
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Hong Kong to invest US$6.37 million to spur Web3 growth

Hong Kong is allocating HK$50 million (US$6.37 million) to develop its Web3 sector, the Financial Secretary Paul Chan announced Wednesday.

Coinbase reports growth in Q4 earnings despite decline in users

Coinbase reported an increase in its Q4 earnings on Tuesday, even as overall users declined throughout the period.

Ankr token surges 60%, partners Microsoft for enterprise-grade node service

ANKR surged by more than 60% after the blockchain infrastructure startup announced a partnership on Tuesday with Microsoft.

Markets: Bitcoin, Ether fall as 2-year bond nears 15-year high

Bitcoin and Ether fell on Wednesday morning trading in Asia along with all other top 10 non-stablecoin cryptocurrencies by market cap.
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Centralized crypto exchanges are dying, so long live centralized crypto exchanges?

Multi-billion dollar bankruptcies, fraud allegations, scandal, and plunging cryptocurrency prices in 2022 all characterized why investors came to distrust centralized exchanges. Yet, some commentators expect platforms to become ever more centralized … and regulated.

Polygon Labs cut 20% of workforce

Polygon Labs is firing 20% of its workforce, or about 100 positions, as part of its business consolidation.

DeFi Recovery Soon?

Lenders in the crypto sector are optimistic about DeFi’s recovery this year – but why is that?

Bitcoin exceeds 154,000 inscriptions in a month as Litecoin Ordinals launches

The Bitcoin Network has recorded over 154,554 inscriptions since the launch of Bitcoin Ordinals on Jan. 21, a fork that enables digital assets to be inscribed on satoshis (sats)

FTX Japan resumes withdrawals through Liquid Japan web platform

FTX Japan, the Japanese subsidiary of Sam Bankman-Fried’s bankrupt FTX, resumed withdrawal of customer holdings on Tuesday.

Crypto hedge fund Galois Capital to close after losing US$40 mln in FTX

Cryptocurrency-focused hedge fund Galois Capital will close and return the remaining funds to investors after losing US$40 million worth of assets in the collapse of crypto exchange FTX.com

Huobi plans to move headquarters to Hong Kong from Singapore

Cryptocurrency exchange Huobi Global is seeking to relocate its Asia headquarters from Singapore to Hong Kong.

How Web3 in China is taking shape — with ‘Chinese characteristics’

What makes Web3 compelling to many is its promise to shift power from centralized players to individual users, but China is doing the opposite, writes Lily King.

Markets: Bitcoin, Ether up, Solana, Helium rise after merge announcement

Bitcoin and Ether rose in a mixed morning for the top 10 non-stablecoin cryptocurrencies. Solana posted the biggest gains while Polygon’s Matic led losses Tuesday morning in Asia.

Bitcoin surpasses Visa’s market cap to be 11th largest asset in the world

Bitcoin, the world’s first cryptocurrency, gained 15% in the past week to trade at US$24,885 and 7 p.m. in Hong Kong, surpassing payments giant Visa in market capitalization for the third time in history. See related article: Industry reacts: US cracks down on crypto, India calls for regulatory collaboration Fast facts See related article: Bitcoin […]

Hong Kong begins public consultation on crypto licensing regime

The Hong Kong Securities and Futures Commission is calling for public feedback on its new proposals to regulate the crypto industry set to take effect in June.

Trust in crypto is in shambles. How can we rebuild it?

Greater transparency and confidence in who you are transacting with could go a long way toward alleviating public mistrust, writes Travis Nelson of Quadrata.

Former FTX executive Nishad Singh negotiating guilty plea on fraud charges: Bloomberg

Nishad Singh, a former executive at bankrupt Bahamas-based cryptocurrency exchange FTX.com, may be leaning towards pleading guilty to fraud charges for his involvement in the company’s last November

Markets: Bitcoin dips below US$24,000 to start the trading week in Asia

Bitcoin fell below US$24,000 in a mixed morning for the top 10 non-stablecoin cryptocurrencies by market capitalization on Monday in Asia.

How tokenizing real estate can turn the ‘rules’ on their head – by mastering them first

The digital asset space is ripe for regulation, and tokenized real estate is no exception. But views differ when it comes to finding a framework that fits.

Industry reacts: US cracks down on crypto, India calls for regulatory collaboration

The cryptocurrency industry this week reacted to the recent moves by U.S. authorities against Kraken and Paxos. Meanwhile, India has been calling for a collaborative approach to crypto regulations.

Weekly Market Wrap: Bitcoin rises above US$23,000 after its first weekly ‘death cross’

Bitcoin briefly climbed above US$25,000 for the first time since August 2021, before declining to US$23,764 after its first weekly “death cross.” Investors liquidated over US$70 million worth of Bitcoin short positions in the past 24 hours, according to data aggregator GlassNode, contributing to BTC’s rally.

Japan to launch digital yen pilot programme in April

Japan will start a pilot programme to test the use of a digital yen in April, joining a growing number of countries seeking to launch their own CBDCs.

Bitcoin Breaches US$24,000

Bitcoin experienced its first ‘death cross’ ever, but what does this mean for the coin’s trajectory?

Markets: Bitcoin, Ether fall along with most top 10 cryptos following hawkish U.S. Fed remarks

Bitcoin and Ether fell during Asian trading hours on Friday, following hawkish remarks from U.S. Federal Reserve officials on more upcoming interest rate hikes.

Tencent confirms ‘personnel reshuffle’ at metaverse unit, denies team being disbanded

China technology giant Tencent said its reshuffling staff in its metaverse unit, but denied it was being disbanded, as reported by local media.

Wemade’s WEMIX token surges after relisting on South Korea’s Coinone exchange

South Korean blockchain game developer Wemade’s WEMIX token surged after it was relisted on local crypto exchange Coinone on Thursday.

Do Kwon, founder of collapsed Terra stablecoin, charged with fraud by U.S. securities regulator

The U.S. SEC charged Singapore-based Terraform Labs and its chief Kwon Do-hyung for defrauding investors.

Why gaming’s next frontier is owning your in-game assets

Many gamers still oppose NFTs and blockchain gaming, overlooking the myriad benefits of the latest technology, writes Ramona Ciocea of Protokol.

Markets: Bitcoin slips back below US$24,000 as inflation worries resurface in U.S., equities slide

Bitcoin and Ether fell Friday morning in Asia, curtailing a strong run up in the week, after the U.S. January PPI rose much faster than expected.

CeFi, DeFi, CoFi?

CeFi and Defi are terms you’ve probably heard of before. But what exactly is CoFi, and how could it fulfil crypto’s promise of helping investors take back control of their finances?

Binance expects to pay penalties to settle U.S. probes: Wall Street Journal

Binance expects to pay to settle U.S. authorities’ investigations into its business and past crypto offerings, according to its chief strategy officer.

El Salvador to establish ‘Bitcoin Embassy’ in Texas to promote adoption of digital assets

El Salvador, the first country in the world to make Bitcoin legal tender, is planning on opening a “Bitcoin embassy” in Texas.

Go ahead and ban staking. Crypto investors will just go elsewhere

The SEC’s latest heavy-handed approach toward crypto will leave investors less protected while benefitting dodgy offshore companies, writes Danny Talwar of Koinly.

Markets: Bitcoin breaches US$24,000 to highest price since August as short sellers liquidated

Bitcoin broke through the US$24,000 price ceiling for the first time in two weeks to reach its highest price since mid-August in Thursday morning trading in Asia, as investors liquidated almost US$70 million of mostly short-position bets.

Web3 isn’t just about money, it’s about equality and transparency, says Mysten Labs co-founder

Investors may view Web3 through the lens of financial opportunities and revenue, but that misses the point of trying to build a fairer and more transparent infrastructure, with content creators at the forefront, says Mysten Labs co-founder Evan Cheng
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FTX Donations Clawback

The new leadership at FTX are threatening charitable and political organizations with lawsuits if they don’t return donated funds. Will this benefit ordinary depositors?

Paxos ordered to stop minting Binance stablecoin as SEC mulls legal action

Top blockchain and crypto news: Paxos halts BUSD issuance. Kraken faces disclosure charges. Beijing backs new blockchain research center.

Chinese NFT marketplace Jingtan eases asset transfer restrictions

Jingtan, one of China’s major NFT marketplace, has relaxed its rules on NFT transfer between users.

Singapore’s DBS Digital Exchange’s Bitcoin trade volume grows 80% in 2022

DBS Digital Exchange (DDEx), one of Asia’s first bank-backed digital exchanges, has reported a year-on-year increase of 80% in Bitcoin traded in financial year 2022, while the number of Bitcoin custodized with the bank doubled from 2021. 

Digital asset industry comes under fire at hearing by U.S. Senate on ‘Crypto Crash’

The cryptocurrency industry faced criticism during a Senate committee meeting on Tuesday entitled “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets.”

Binance CEO says more non-USD stablecoins may emerge

The intensifying regulatory oversight in the U.S. is highlighting the increasing need for non-U.S. dollar-pegged stablecoins in the cryptocurrency industry, Binance Chief Executive Officer Changpeng Zhao said on Tuesday.  See related article: Be careful what you wish for? Regulators pick up pace in the crypto industry crackdown Fast facts See related article: SEC may make […]

SEC may make it harder for hedge funds to work with crypto firms: Bloomberg

The U.S. Securities and Exchange Commission (SEC) plans to propose rule changes that would make it difficult for cryptocurrency firms to hold digital assets.

Markets: Bitcoin, Ether, other major tokens rise despite hotter-than-expected CPI reading

Bitcoin rose in Wednesday morning trading in Asia to move back above US$22,000 as investors shrugged off a seeming U.S. regulatory crackdown on digital assets and data showing U.S. inflation for January was above forecasts.

Crypto Clampdown Begins

As financial regulators around the world continue to crackdown on stablecoins, some are asking if they are overreaching their jurisdiction.

Markets: Bitcoin, Ether drop; BNB biggest loser in top 10 cryptos

Bitcoin and Ether dropped in Tuesday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Binance’s native token BNB led the day’s decline across the top 10 cryptos.

Be careful what you wish for? Regulators pick up pace in the crypto industry crackdown

Last year was memorable in the emerging world of digital assets for the sheer number of corporate failures. The industry itself has been asking for clearer legal guidelines to help development. Is that what’s happening now?
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Why the crypto sector needs radical transparency in the post-FTX world

Self-custody is cumbersome and carries risks of seed phrases getting lost, but how can we ensure if a third-party custodian can be trusted?

Markets: Bitcoin rises amid market jitters as Paxos stablecoin issuer next regulator target after Kraken clampdown

Bitcoin was the only top 10 non-stablecoin cryptocurrency to gain in Tuesday morning trading in Asia in a market unsettled by regulators in the U.S. targeting digital asset companies.

Singapore’s DBS bank plans to apply for crypto license in HK: report

Singapore’s DBS Group plans to apply for a license to offer crypto to Hong Kong customers as the city pushes to become a hub for digital assets.

India discussing crypto, regulation with G20, says finance minister

As India moves forward with its one-year presidency of the Group of 20 (G20), it is discussing cryptocurrency and regulation with the group’s members, India’s Finance Minister Nirmala Sitharaman said. 

Head of crypto, FX trading platform EminiFX pleads guilty to US$248 million fraud charges

Mastermind of the EminiFX fraud has pleaded guilty to soliciting investments worth more than US$248 million from tens of thousands of investors, says US DOJ.

Crypto Clarity Coming?

The UK and Europe are following suit in trying to regulate crypto. Just how far along have they come and what more do they have in store?

UAE central bank to issue CBDC, promote digital asset growth

The United Arab Emirates plans to launch a central bank digital currency (CBDC), among other initiatives, to become a financial and digital payment hub.

Paxos ordered to stop issuing Binance USD stablecoin: report

Paxos Trust Company has been ordered by the New York Department of Financial Services (NYDFS) to stop issuing the U.S. dollar-pegged Binance USD (BUSD) stablecoin

What is the outlook for crypto in 2023 and beyond?

Tokenization, stablecoins and DeFi will be growth areas, but regulatory uncertainty is still holding back adoption, writes John Avery of FIS.

Digital Currency Group plans restructuring to pay creditors of bankrupt Genesis unit

Digital Currency Group (DCG), the parent firm of failed crypto broker Genesis Global Capital, plans to transfer equity in another unit, Genesis Global Trading, to Genesis Global Holdco and eventually sell both companies to raise capital to pay back creditors.

Securities and Exchange Commission may sue BUSD stablecoin issuer Paxos, WSJ reports

The U.S. SEC may sue the Paxos Trust Company for allegedly violating investor protection laws in its issue of the Binance USD (BUSD) stablecoin.

Markets: Bitcoin treads water under US$22,000 following SEC action on Kraken, Ether falls

Bitcoin was little changed in Monday morning trading in Asia in a mixed morning for the top 10 non-stablecoin cryptocurrencies by market capitalization.

Huobi to expand in Hong Kong as it bets on China

Huobi Global plans to expand its operations in Hong Kong, anticipating that Mainland China will soon follow the city’s recent pro-crypto shift, says Justin Sun.

Stablecoin issuer Paxos probed by New York regulator

Paxos Trust, the issuer of Binance’s BUSD stablecoin, is reportedly being investigated by the New York State Department of Financial Services (NYDFS).

Bitcoin Price Dips

Bitcoin has fallen 4.5% since last week, but could this be seen as the coin trading sideways, or could we see even more drops in Bitcoin’s price?

Weekly Market Wrap: Bitcoin retreats below US$22,000 after a record January. Is the strong start to 2023 reversing?

After the strongest January price increase since 2013, Bitcoin gave up some of its gains this week to dip below the US$22,000 support line on Friday. The crypto market was buffeted by bearish comments on interest rates by U.S. Federal Reserve officials this week, along with concerns about a regulatory crackdown. Is this the start of a downtrend, a healthy correction, or the beginning of a so-called “crab” market moving sideways?

Markets: Bitcoin, Ether fall along with top 10 cryptos; SOL biggest loser

Bitcoin and Ether fell during Asian trading hours on Friday, along with the rest of the top 10 non-stablecoin cryptocurrencies by market capitalization. Solana’s native token notched the biggest loss, following rumors of a potential ban on crypto staking for retail investors in the U.S.

Lessons from FTX: crypto investment risks and how to avoid them

The recent spate of crypto exchanges freezing customer accounts should be a wake-up call to investors everywhere. What can you do to better protect yourself?

Jury sides with fashion giant Hermès in MetaBirkins NFT case

Luxury fashion house Hermès International won its lawsuit against NFT artist Mason Rothschild on Wednesday for violating its Hermès’ Birkin trademark.