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Is Bitcoin really a hedge against inflation?

Bitcoin’s recent slumps have been coupled with macroeconomic activities, bringing its status as an inflation hedge into question.

Ukraine’s crypto demand soars; Russian sanctions tighten

Trading volume on Ukrainian crypto exchanges triples as Russia continues its attack on Ukraine. Meanwhile, there is still no sign of Russia using crypto to evade sanctions yet,

Russia unlikely to turn to crypto if SWIFT sanction is imposed

Measures to detect sanctioned entities’ crypto transactions can come into play, experts say.

Play to live: GameFi drives a Southeast Asian crush on crypto

More people in the region are in thrall to play-to-earn gaming as it adapts to offer real-world uses, says Infinity Ventures Crypto founding partner Brian Lu.

BitMEX founders Hayes, Delo fined $10M each, plead guilty to AML violations

BitMEX founders Arthur Hayes and Benjamin Delo pleaded guilty to violating the Bank Secrecy Act’s anti-money-laundering provisions, the U.S. Attorney’s Office in Manhattan said on Thursday. See related article: BitMEX pays US$100M to settle AML, KYC compliance breach charges Fast facts Under the terms of the plea agreement, Hayes and Delo will each pay US$10 […]

Putin’s attack triples Ukrainian crypto exchange’s trading volume

Trading volume in Ukrainian crypto exchange Kuna has more than tripled by Friday since Russia invaded the Eastern European nation, according to CoinGecko data.  See related article: Bitcoin, crypto market tank as Putin declares war on Ukraine Fast facts The 24-hour trading volume at Kuna was at around US$1.5 million on Thursday morning Asia time, […]

Crypto traders in China may serve over 10 years in prison

China’s Supreme Court specified cryptocurrency trading as a means of illegal fundraising in its latest judicial interpretation of criminal law released on Thursday, the first time in the country’s history.  See related article: Court in China says trading in cryptocurrency ‘not protected by law’ Fast facts A judicial interpretation is the Supreme People’s Court’s official […]

South Korean crypto businesses scramble to meet FATF travel rule

Around 30 South Korean crypto and blockchain firms have officially started partnering with CODE, a joint venture formed to meet the Financial Action Task Force (FATF) travel rule. See related article: What lies ahead for crypto regulations in 2022 Fast facts FATF’s travel rule is a global set of guidelines for virtual asset service providers […]

India’s crypto brain drain may accelerate once again

Government indecision on crypto regulation prompted some businesses to move abroad. Investors and crypto professionals may follow if uncertainty prolongs.

Meta showcases focus on AI, announces new voice assistant program

The brand has long centered around connecting people and seems determined to carry that branding to its next stage as a metaverse company.

Bitcoin, crypto market tank as Putin declares war on Ukraine

The cryptocurrency market took a nosedive in what was already seeming like a day in the red zone after Russian President Vladimir Putin declared a “special military operation” for the “demilitarization and de-Nazification of Ukraine.”  See related article: Crypto market tumbles amid uncertainty over Russia and Ukraine Fast facts The global cryptocurrency market cap dipped […]

Terra bullish trend continues; rest of crypto top 10 in red

Terra LUNA is continuing its bullish trend from where it left off on Wednesday, up almost 7% to trade at $59.39 on Thursday morning, Asia time. Fast facts See related article: Is Terra — whose LUNA coin is now at another all-time high — really where the smart money is? The currency has been as […]

Bitcoin miners unwelcome in Hangzhou despite targeted energy hike

A new electricity rate hike for crypto miners in China’s southeastern province Zhejiang is a penalty, not a green light, province capital Hangzhou authorities said, the China Times reported on Wednesday.  See related article: China’s Zhejiang province busts dozens of state-owned entities for mining crypto Fast facts Zhejiang Province announced this month that it would […]

India’s crypto ads to get ‘highly risky’ banners starting April

All cryptocurrency ads in India will carry standard disclaimers to warn investors of risks associated with crypto beginning April 1, as per guidelines released by the Advertising Standards Council of India (ASCI) on Wednesday.  See related article: Indian court seeks standardized disclaimers on crypto ads Fast facts The disclaimer must read: “Crypto products and NFTs […]

Jupiter Meta launches fully curated NFT marketplace in India

Jupiter Meta on Wednesday launched a fully curated non-fungible token marketplace in India focusing on music, film and gaming.  See related article: WazirX launches India’s first NFT marketplace Fast facts The NFT marketplace is built on Jupiter Meta’s Rubix blockchain, which the company claims has zero gas fees and is sustainable.  Jupiter Meta has also […]

Why India’s Bitcoin premium is now higher than South Korea’s

The RBI is casting a cloud of regulatory uncertainty over the local digital assets industry, but the nation’s Bitcoin premium shows India wants crypto. 

Digital yuan pilot attracts Chinese province bordering Russia

Heilongjiang province in northeastern China has joined the bid to compete with 10 other cities to become the next digital yuan pilot city, it announced on Monday.  See related article: E-CNY chief says digital dollar poses no threat to China Fast facts See related article: Hong Kong makes apt testbed for e-CNY cross-border use

Second K-pop agency taps Binance for NFT partnership

Binance inked a partnership with an SM Entertainment subsidiary to explore non-fungible token (NFT) opportunities, the second K-pop agency to sign with Binance in February.  See related article: Animoca Brands, K-pop agency Cube form metaverse joint venture Fast facts The pair will build what they call a “play-to-create” ecosystem, which aims to let fans reproduce […]

Alibaba to reward NFTs in its first blockchain game

Alibaba is rewarding non-fungible tokens (NFTs) on its first blockchain game Ant Adventure, which can be played through the Alipay mobile application, one of China’s leading mobile payment providers.  See related article: Ant Group’s NFT arm punishes users for digital collectible resales Fast facts Ant Adventure is powered by Alibaba’s blockchain AntChain, and takes users […]

Hedera gears up for smart contract upgrade, leads market rebound

Hedera’s HBAR is leading a crypto market bounce with a 14% surge over the last 24 hours to trade at US$0.2306 on the back of the HederaStarter launch announcement as the ecosystem preps for its smart contract era.  See related article: Hedera Hashgraph provides provenance for data from Syrian war Fast facts HederaStarter is slated […]

Law can’t cover crypto losses, China court reiterates

The high court of China’s southeastern Guangdong province has ruled cryptocurrency investment activities are not protected by law, further clarifying that crypto is not a legitimate currency in the mainland.  See related article: China customs seizes 49 second-hand crypto mining rigs for export Fast facts The Guangdong high court on Tuesday listed a crypto-related virtual […]

Tether slashes commercial paper, shows more reserves than liabilities

Tether cut its commercial paper holdings by 21% last quarter according to the stablecoin operator’s latest quarterly assurance opinion released Monday.  See related article: Tether unveils reserves and backing for its USDT stablecoin in new report Fast facts Auditor MHA Cayman completed an attestation, finding Tether’s reserves held for its digital assets exceed the amount […]

Temasek leads $200M funding round in crypto firm Amber

Amber Group has secured US$200 million in a funding round led by Singapore’s sovereign wealth fund Temasek, raising the cryptocurrency platform’s valuation to US$3 billion.  See related story: Temasek-founded Affinidi launches new business unit to bring Web 3.0 to financial services to Southeast Asia Fast facts Existing investors including Sequoia China, Pantera Capital, Tiger Global […]

Solana, Terra join Bitcoin in free fall as markets continue tumbling

Solana joined Bitcoin’s free fall along with other cryptocurrencies on Tuesday, after being among the few cryptos standing in the green during a red day in the crypto market on Monday.  See related article: What Solana prices will be at the end of 2021 and beyond Fast facts Solana — currently at US$83.50 – is […]

South Korea sees new metaverse ETF while forerunners lag in profit

NH-Amundi Asset Management listed its second metaverse exchange-traded fund (ETF) Tuesday that will specifically invest in metaverse-related companies in the U.S. See related article: Hong Kong gears up for its first metaverse ETF Fast facts The HANARO U.S. Metaverse iSelect ETF follows 20 key players in the U.S. metaverse, virtual and augmented reality, and the […]

Why digital assets are poised to disrupt philanthropy

Charitable giving in Bitcoin and other cryptocurrencies is growing by leaps and bounds. Michael B. Greenwald and Logan Weber explain the risks and benefits.
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Jump in NFT demand reflects crypto prices, right? Wrong

An asset bought and valued in crypto becomes decoupled from crypto prices, a split that reflects the differences between crypto investors and NFT buyers.

NFTs can upend the music business. Artists should take note

Blockchain technology allows musicians to sell songs directly and earn more per song, writes Adi Ben-Ari of Applied Blockchain.

India needs to make up its mind over crypto

Although India hoped that taxation would be a step toward regulation rather than a ban, the high tax rates and proposed rules seem to be geared toward dissuading crypto trading.

CCTV NFTs hit resale market before transfer permitted

Non-fungible tokens (NFTs), or digital collectibles, issued by China Central Television (CCTV), the nation’s largest state-owned broadcast media, are appearing in China’s largest online second-hand market for at least 10 times the original price in a pre-sale bid, even before trade embargoes on the assets have lifted.  See related article: China’s mouthpiece newspaper is giving […]

LooksRare trails OpenSea in sales volume as developers cash out $30M

Trading volumes on non-fungible token (NFT) marketplace LooksRare dropped by more than half its daily volume since developers withdrew roughly US$30 million of its native LOOKS token and cashed out in wrapped Ether (wETH) Fast facts LooksRare was averaging daily sales volumes of around US$550 million but fell more than 50% overnight in early February […]

‘Extreme fear’: Bitcoin continues bear run, while Solana is up

Bitcoin, the largest cryptocurrency by market capitalization, continues to tank along with other cryptocurrencies in the global market, with investor sentiment at “extreme fear” at Bitcoin’s Fear and Greed Index.  See related article: Bitcoin leads market-wide downturn as Russia fears rise Fast facts Bitcoin is currently down by almost 2% to trade at US$39,185. Bitcoin’s […]

South Korea’s largest financial group mulls crypto ETFs

South Korea’s KB Asset Management launched a committee on Monday that will develop investment strategies for releasing digital asset products such as exchange-traded funds (ETFs). See related article: South Korean banks find workaround to cash in on crypto services Fast facts The ‘Digital Asset Management Preparatory Committee’ aims to be the first to launch digital […]

Sandcastles in cyberspace and the rise of the metaverse

As businesses wake up to the potential of the metaverse, we ask The Sandbox’s Sebastien Borget whether its creator-driven promise will persevere.

Azuki, CryptoPunks battle it out for week’s top NFT title

Azuki, an anime avatars NFT collection, is in a tight race with the CryptoPunks for the weekly sales volume title, building on its successful debut month in January, according to CryptoSlam data.  See related article: ‘All eyes are on it:’ CryptoPunks at center of copyright legal dispute Fast facts Azuki traded the top spot with […]

South Korea struggles to prevent sexual harassment of minors in the metaverse

While the government cultivates the booming metaverse industry, experts say laws fail to protect youth from abuse within virtual and digital realms.

Buyers snap up Olympics panda NFTs

Animoca Brand’s nWayPlay sold out second batch of Bing Dwen Dwen mascot NFTs on Thursday as prices of first set fetched 900% in average resale value.
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Hong Kong gears up for its first metaverse ETF

Hong Kong’s first metaverse-themed exchange-traded fund (ETF), the CSOP Metaverse Concept ETF, is scheduled to be listed on Feb. 21 on the Stock Exchange of Hong Kong, according to a CSOP Asset Management disclosure document.  See related article: NFTs, metaverse listed as top ‘must watch’ security risks in Hong Kong Fast facts The metaverse ETF […]

Crypto market rebound is short-lived as Russia tensions loom

Investor relief at last week’s slight market rebound gave way to concerns over military tensions in Ukraine, sending crypto and traditional markets reeling.

Indian dating app attempts to start metaverse dating trend

Dating platform Mingout has introduced metaverse dating in India by organizing a virtual date for two of its users in a moon-based setting. See related article: Phillips to auction metahuman-made NFTs for Valentine’s Day Fast facts Metaverse or virtual dating is a nascent concept in India, and Mingout hopes to create a dating revolution and […]

South Korean university to issue NFTs to all 2,830 graduates

South Korea’s Hoseo University will issue non-fungible token (NFT) degrees and certificates to all 2,830 graduates of its 2021 batch at its graduation ceremony on Friday. See related article: Samsung-backed university to issue NFTs to select graduates Fast facts The university hopes the pivot from a paper-based degree to NFTs will improve access to administrative […]

Biden to order crypto oversight: report

President Biden’s executive order directing agencies to devise a comprehensive strategy to regulate cryptocurrencies and other digital assets and examine a digital dollar may be issued next week, according to Yahoo! Finance. Fast facts The order, expected weeks ago, was delayed by a disagreement between the White House and the Treasury over its scope, Bloomberg […]

Hong Kong makes apt testbed for e-CNY cross-border use

The city’s global reach, Hong Kong dollar and mainland ties make it a good fit for Chinese authorities to trial e-CNY international payments.

Animoca Brands’ new Japan arm aims to connect fans in Web 3.0 world

Hong Kong-based blockchain unicorn Animoca Brands’ Japanese strategic subsidiary started operations on Tuesday to bridge the nation’s exclusive intellectual property (IP) with the Web 3.0 ecosystem. See related article: Animoca Brands valued at US$5B after latest fundraise Fast facts The subsidiary, Animoca Brands KK, is building a blockchain-powered platform for Japanese IP holders to launch […]

Indian media giant’s Fully Faltoo NFTs sell out in 48 hours

Indian media staple Viacom18’s Youth, Music and English Entertainment Cluster (YME) released 3,000 Fully Faltoo non-fungible tokens (NFTs) that sold out within 48 hours since launching, the company said in a press release on Wednesday. See related article: WazirX launches India’s first NFT marketplace Fast facts Fully Faltoo is a local award-winning sitcom program that […]

How DeFi’s user interface problems are deterring widespread adoption

DeFi can put investors at risk if they don’t understand how it works, writes Korapat Arunanondchai. Here’s how to improve user experience.

US NFT trademarks increase by 420-fold in 2021: report

Over 1,200 non-fungible token (NFT)-related trademarks were registered in the U.S. in 2021, a 420-fold increase from the previous year, according to data acquired by Finbold. Fast facts More than 400 trademarks were filed in the month of December 2021 while none were filed in January 2021. There were 450 filings in January 2022, a […]

Prime time for crypto as Super Bowl ads make splash

Top blockchain and crypto news: Super Bowl score for digital asset exchanges. CryptoPunks holders face copyright conundrum. Hong Kong warns of NFT risks.

Crypto assets, stablecoins pose risk to global financial stability: FSB

The rapidly growing crypto market could pose a threat to global financial stability, according to a Financial Stability Board (FSB) report published on Wednesday. Fast facts The FSB, an international body that monitors and makes recommendations about the global financial system, identified vulnerabilities related to unbacked assets such as Bitcoin, stablecoins such as USDT and […]

RBI is causing crypto hesitancy among Indian banks

India’s crypto tax plan was expected to bolster adoption, but the central bank’s hold on the banking sector puts a check on crypto-related services.

Binance US under probe for ties with trading affiliates: report

The U.S. securities watchdog has launched a probe into crypto exchange Binance’s relationship with two trading firms with ties to founder Changpeng Zhao, the Wall Street Journal reported. Fast facts The Securities and Exchange Commission (SEC) is examining whether Binance’s U.S. arm properly discloses to users its links to two trading firms — Sigma Chain […]

Pakistani central bank echoes RBI’s concerns over crypto

State Bank of Pakistan (SBP) governor Reza Baqir said in this year’s MASIC Annual Investment Forum that cryptocurrency risks far outweigh their benefits and threaten financial and monetary stability for developing countries. Fast facts The SBP recommended a ban on cryptocurrencies last month, with one of the nation’s largest banks quickly heeding the advice by […]

HK watchdog’s NFT warning; DBS plans crypto expansion

HK watchdog’s sends out warning calling NFT a threat, meanwhile in Singapore DBS plans a crypto expansion

DBS Digital Exchange hits new high in trading value

DBS Digital Exchange (DDEx), one of Asia’s first bank-backed digital exchanges, recorded over SG$1.1 billion (US$818 million) in trading value in FY2021, the company said in a press release on Tuesday. Fast facts DDEx is currently a members-only exchange that provides corporate and institutional investors, accredited investors, and family offices that bank with DBS, access […]

Will the new multi-chain world ignite another ‘DeFi summer’?

2022 will see a flowering ecosystem of blockchains working together, writes Will Harborne of DeversiFi. Here’s what the multi-chain future will look like.

Peirce dissents from SEC’s US$100M BlockFi settlement

SEC Commissioner Hester Peirce, dubbed Crypto Mom, dissented in Monday’s US$100M BlockFi settlement, saying the punishment does not fit the crime.

Russian-linked strains lead crypto ransomware in 2021: Chainalysis

Ransomware revenue in crypto in 2021 has been traced to strains connected to Russia with most of the extorted funds laundered through services that primarily cater to Russian users, blockchain forensics firm Chainalysis reported. Fast facts Around 74% of the over US$400 million worth of crypto ransomware revenue last year was directed to strains that […]

Forget synthetic wombs. Give women more opportunities in DeFi and Web3

Vitalik Buterin’s advocacy of synthetic wombs misses the point, writes Izzy Howell of Cypher. Here’s why crypto can do more for gender equality.

‘All eyes are on it:’ CryptoPunks at center of copyright legal dispute

The biggest-selling NFT collection of all time has two competing versions, threatening to undermine the value of the tokens and faith in the industry itself.

Indian exchanges scramble to implement crypto tax by April 1 deadline

Exchanges say the crypto tax was announced without key directives. While exchanges await clarity, they struggle to figure out their role in the tax system.

Ethereum price expected to hit $7,609 in 2022: report

Ethereum’s price is expected to reach US$7,609 this year, although it is expected to end the year at around US$6,500, according to Australian fintech Finder’s panel of 33 crypto specialists.  Fast facts In the long term, the panel predicted that Ethereum’s price will reach US$10,810 by the end of 2025, and US$26,338 by the end […]

Cryptocurrencies are not legal in India, future uncertain: Union minister

Union minister Bhagwat Karad said on Saturday that cryptocurrencies are not legal in India and that their future is uncertain at the moment.  Fast facts Many investors and exchanges had viewed a decision to impose a 30% tax on cryptocurrency profits as a step toward validating the industry. Finance minister Nirmala Sitharaman, however, clarified last […]

Bitcoin hashrate reaches new ATH in 32% surge

Bitcoin’s hashrate reached an all-time high over the weekend, despite many miners being forced to move operations out of Kazakhstan. Fast facts The total Bitcoin hashrate surged by 31.7% to an all-time high of 248.11 exahashes per second in raw values on Saturday, according to data from Blockchain.com. The latest hashrate read at 209.63 EH/s […]

Phillips to auction metahuman-made NFTs for Valentine’s Day

Phillips, a global auction house, launched a nine-day non-fungible token (NFT) auction on Monday, Valentine’s Day, in Hong Kong. Fast facts Six artworks are being auctioned as NFTs. One NFT for bidding is an auction data-generated NFT “Drowning in Love” made by MonoC, a virtual artist developed by Gusto Collective. MonoC is a virtual metahuman […]

Collision or coexistence: Can CBDCs and crypto live side by side?

As more countries announce plans for central bank digital currencies, will that break crypto’s promise as the future of money?

Guilty verdicts handed down in S.Korea’s biggest crypto scam

Seven executives of scam crypto exchange V Global were found guilty on Friday and sentenced to jail time — but it might not be enough to console victims.

Tiger Global leads $50M round in Philippine crypto exchange

The Philippine Digital Asset Exchange (PDAX) has raised US$50 million in a Series B funding round led by Tiger Global.  Fast facts UBX, the venture fund of UnionBank of the Philippines, Kingsway Capital, Jump Capital, U.S. blockchain payments company Ripple, among others, also participated in the round.  The funding round started in August last year […]

Crypto is ‘not even a tulip,’ India’s central bank chief says

Reserve Bank of India Governor Shaktikanta Das said in a press conference that cryptocurrencies have no underlying value and that they are “not even a tulip,” warning investors of its risks.  Fast facts Das’s comments come just over a week after India’s central government announced a 30% taxation plan on income from crypto assets as well […]

Will the growing regulatory heat on stablecoins stifle innovation?

As stablecoins face pressure to adopt traditional safeguards, the industry’s efforts to self-regulate should not be overlooked, writes Charlie Martin of Gro.

Binance to take $200M stake in Forbes

Binance, the world’s largest cryptocurrency exchange, plans to take a US$200 million stake in Forbes through a private placement, making it one of the two largest shareholders of the 104-year-old business magazine. Fast facts The investment comes as Forbes seeks to go public on the New York Stock Exchange via a deal with a special […]

China’s e-CNY pilot to boost Hong Kong as offshore yuan trading center

Upcoming digital yuan trial to piggyback on Hong Kong’s popular Faster Payment System for smoother cross-border transactions.

Indian crypto tax creates more confusion than clarity for traders, exchanges

The announcement of a crypto tax dispelled fears of a ban but left exchanges wondering whether they may be hurt in the long run.