Tech giants vow to resist NFT hype; Squid token under scrutiny
China’s tech cut ties to NFTs as Squid Game token leaves users questioning its legitimacy.
Another DeFi platform, BXH, suffers $130M exploit
This follows an attack on Cream Finance that also resulted in a $130M hack.
Shanghai plans to further popularize the digital yuan in the next five years
Shanghai outlined its plan to expand digital yuan pilot programs into the city’s five-year plan, in a recently released policy statement, “Shanghai’s Five-Year Plan of Comprehensive Promotion of Urban Digital Transformation.” Fast facts The plan said the city will expand pilot program for online and offline payments, transportation and government services. Shanghai is among the […]
Ant Group, JD.com, Tencent pledge to resist speculation of ‘digital collectibles’
Ant Group and Tencent recently rebranded NFT projects as digital collectibles amid China state media criticism.
Why blockchain is the operating system of the digital age
Blockchain has achieved platform status, writes Don Tapscott of Blockchain Research Institute. Get ready for the ‘trivergence’ that will shake up the world.
Can Axie Infinity go the distance?
The darling of the play-to-earn gaming world had an explosive start but now struggles with deflation and lower player earnings. Is the play-to-earn model sustainable?
China’s prefecture-level city Ganzhou cracks down on crypto activities
More local governments in China are taking actions to crack down on cryptocurrency mining and trading, with Ganzhou, a prefecture-level city in the eastern province of Jiangxi, having deployed checks and inspections on local businesses. Fast facts The economic development zone in Ganzhou announced that it is working with the central bank’s local branch, the […]
Defiant Facebook, now renamed Meta, goes all in on metaverse strategy as scrutiny tightens
Facebook, now called Meta, is casting off one of the world’s most famous names to retool itself into a metaverse company. Will its $10 billion bet pay off?
China’s state-backed blockchain network plans to launch NFT infrastructure
Red Date Technology, the company China tapped to manage its Blockchain-based Service Network (BSN), said today it plans to fully launch an infrastructure for non-fungible tokens (NFTs) by the end of January 2022. Fast facts Red Date revealed on Friday an NFT infrastructure plan — BSN-Distributed Digital Certificate (DDC) — at its BSN Open Permissioned […]
Warning issued over K-pop crypto; Dog fight hits crypto market
Warning issued over K-pop crypto meanwhile Dog fight hits crypto market
Back to the future: Why Bitcoin is still a game-changer
Bitcoin is awakening humanity to its own sovereign capacities, says Ben Caselin of AAX. Here’s why the world’s first cryptocurrency is still at the cutting edge of finance and culture.
China’s national standard for blockchain could be released next year: report
China’s first national standard for blockchain could be released next year and a draft is now in the process of being submitted for approval, an official said earlier this week at an event in the western province of Sichuan, according to a report from local media Chuanguan, run by state-owned Sichuan Daily. Fast facts Li […]
13 years after Bitcoin’s whitepaper, what would Satoshi say?
Bitcoin is growing up in ways not imagined in Satoshi Nakamoto’s 2008 writings that gave birth to it. How will Bitcoin’s future unfold?
Tales from the Crypt, 2021: 10 crypto horror stories
Behind this year’s giddy markets, evil and tragedies abound. Just in time for Halloween, Forkast.News shakes out the skeletons in crypto’s closet.
Unraveling the mystery behind why Bitcoin prices are all over the place
Even the most reliable media can report wildly different crypto numbers. Forkast.News dives into DeFi math and crypto exchange economics to find out who’s right.
South Korea crypto debate heats up; Bitcoin mining ETF starts trading
South Korea crypto debate heats up, also Bitcoin mining ETF starts trading
CFTC wants to be the primary crypto regulator
The Commodity Futures Trading Commission is ready to be the “primary cop on the beat” for digital assets, CFTC acting chair Rostin Behnam said at his confirmation hearing on Wednesday. Fast facts As of Tuesday, “the total size of the digital asset market was US$2.7 trillion and among that $2.7 trillion, nearly 60% were commodities. […]
How can we better protect digital assets and guard against hackers?
As Asia warms to crypto, cyber attacks are growing in sophistication, writes Shahnawaz Backer of F5. What can be done to thwart bad actors?
Blockchain game Alien Worlds Missions launches on Binance Smart Chain
Popular play-to-earn blockchain game Alien Worlds has launched its Alien Worlds Missions game on the Binance Smart Chain (BSC), according to a media statement. Fast facts Alien Worlds is a decentralized finance (DeFi), non-fungible token (NFT) metaverse where players compete using unique digital items (NFTs), earn Trilium (TLM), the in-game currency, and travel on Alien World Missions […]
DeFi platform Cream Finance suffers $130M exploit
This appears to be the third hack for the protocol this year — yet the biggest one so far.
European Central Bank appoints 30 members to digital euro market advisory group
The European Central Bank (ECB) has appointed 30 senior business professionals from a range of financial institutions and related organizations to its market advisory group for the digital euro project, according to a media statement. Fast facts The appointment of industry members to the advisory group follows the ECB’s launch of its digital euro project […]
DBS Bank first in Southeast Asia to join Hedera Governing Council
Singapore’s DBS Bank — Southeast Asia’s largest lender — has joined the Hedera Governing Council, a diverse group of companies that governs and supports the Hedera network, an enterprise-grade public ledger of transactions, according to a media statement. Fast facts DBS — the first and only bank in Southeast Asia to join the Governing Council […]
Sotheby’s first metaverse auction sees 1,500 bids, sets NFT records
Sotheby’s ended its Natively Digital 1.2 auction event with 1,500 bids on Tuesday, with a total turnover of US$18.6 million after nine days of live bidding. Three non-fungible tokens (NFTs) reached record bids, including #8817 Ape by Bored Ape Yacht Club, Rare Pepe PEPENOPOULOS, and Self Portrait #1 by Dmitri Cherniak, according to a press […]
Altair upgrade goes live; Hybe and Dunamu consider NFT venture
Altair upgrade goes live, also Hybe and Dunamu consider NFT venture.
India’s long-awaited crypto regulation coming in February, finance ministry officials say
Recent developments indicate the government is looking to regulate the sector instead of quashing it, and industry experts remain optimistic.
Tesla’s trillion-dollar triumph — and its bond with Bitcoin
Top blockchain and crypto news: Is Tesla’s turbocharge a boost for Bitcoin? Mastercard’s Bakkt with a new crypto deal. Chinese NFTs on knife-edge.
Ripple launches first RippleNet ODL with Pyypl in the Middle East
San Francisco-based blockchain payments company Ripple has partnered with Pyypl, a blockchain-based financial services technology company in the Middle East and Africa, to use XRP for cross-border payments in the Middle East, according to a company statement. Fast facts The partnership with Pyypl marks RippleNet’s first-ever On-Demand Liquidity (ODL) deployment in the Middle East and […]
What will Ethereum prices be as 2021 ends?
As Ethereum surges to a new all-time high, 50 fintech experts surveyed by Finder offer predictions on ETH’s year-end and longer-term price outlook.
Binance NFT launches initial game offerings
Binance NFT, the non-fungible token (NFT) marketplace of Binance, has launched Initial Game Offerings (IGOs) for customers to invest in gaming NFTs projects at an early stage, according to a Binance blog post. Fast facts The IGOs will feature NFT collections from top-tier gaming projects that are available exclusively on the Binance NFT marketplace, Binance […]
Tether to test anti-money laundering product
Tether Operations, the company behind Tether (USDT) — the largest stablecoin by market capitalization — today announced that it will be trialing Notabene’s crypto travel rule compliance product for cross-border stablecoin transfers. Fast facts USDT has a market capitalization of over US$70 billion and over US$64 billion in 24-hour trading volume, according to CoinGecko data. […]
Vitalik Buterin: Layer 2 is the future of Ethereum scaling
Ethereum’s creator explains why rollups can help scale Ethereum while preserving decentralization.
Philippines trials blockchain voting; Byron Bay to host crypto mining
Philippines trials blockchain voting meanwhile Byron Bay to host crypto mining
Kazakhstan proposes to limit power consumption for new crypto miners as power deficit bites
Local miners told Forkast.News that existing legal miners won’t be much affected, though they’re still subject to power rationing.
DBS, JPMorgan, Temasek-funded Partior goes live for cross-border transactions
The Singapore government-incubated blockchain platform promises to dramatically speed up transactions and lower the cost of international trade.
Alipay and Tencent now call NFTs ‘digital collectibles’ amid state media criticism
Tech giants banish non-fungible token references as Beijing looks down new virtual asset market.
The Philippines looks to blockchain voting for its diaspora
The nation’s elections commission wants to upgrade its voting technology to improve voter turnout and public trust. Does blockchain check the boxes?
Australian crypto industry watches as sole trader charges two top banks with ‘debanking’
While the government signals it is ready to promote the industry, the country’s banks remain unimpressed. ANZ has already settled its de-banking case with Allan Flynn, but as the tribunal with Westpac concluded over the weekend, what should we expect from the outcome?
Mastercard partners with Bakkt to offer crypto payments
Payments giant Mastercard and cryptocurrencies firm Bakkt Holdings Inc. announced on Monday they have partnered to facilitate cryptocurrency debit and credit card payments. The partnership will make it easier for merchants, banks and fintechs in the U.S. to offer a broad set of cryptocurrency services and enable consumers to buy and sell digital assets through […]
Solana price hits new all-time high amid rising crypto market
As the crypto market lit up with green across the board this morning, the price of Solana (SOL) jumped 6% in a few hours overnight to reach a new all-time high of US$218.73, according to data from CoinMarketCap. Solana’s price has since lost some of this ground, however, and was trading at US$208.57 at press […]
Bitcoin propels crypto institutional inflows to record $1.5B
Crypto investment products saw record inflows last week of US$1.47 billion, with Bitcoin accounting for 99% of the inflows, according to digital assets fund manager CoinShares. Total crypto assets under management also reached a new peak of US$79.2 billion. Fast facts Bitcoin investment products saw record inflows of US$1.45 billion last week. “The record inflows […]
Proshares files for exemption; Shiba Inu hits all-time high
Proshares files for exemption meanwhile Shiba Inu hits all-time high
China’s BSN launches service portal in Hong Kong, Macau with digiXnode
Hong Kong-based blockchain technology company digiXnode Technology Ltd. today officially launched an exclusive service portal — for users in Hong Kong and Macau — that grants access to the Blockchain-based Service Network (BSN), China’s public-private nationwide infrastructure project to spur mass adoption of blockchain technology. Fast facts By subscribing to the service from digiXnode’s website […]
Midnight for crypto in China, but Hong Kong keeps lights on
Mainland China’s recent ban on crypto, the most draconian yet, did not come as a surprise to those in the know, says Angelina Kwan of HashKey Group. How will this affect the crypto hub of Hong Kong?
Nigeria to become 1st African country to launch a central bank digital currency
Nigeria, a country with one of the world’s highest cryptocurrency adoption rates, is set to become the first African nation to launch its own central bank digital currency (CBDC) today as President Muhammadu Buhari formally launches the eNaira. Fast facts Nigeria’s CBDC, the eNaira, was initially scheduled to be launched on Oct. 1. The launch […]
U.S. crypto miner Greenidge more than doubles Bitmain rig order to fuel growth
Greenidge Generation Holdings Inc., a U.S. Bitcoin mining and power generation company, has announced it plans to ramp up its operation across the U.S. by more than doubling its previous order with Chinese mining rig maker Bitmain. Fast facts Nasdaq-listed Greenidge said Thursday in a statement it plans to significantly expand beyond its current operating […]
ProShares seeks to alter BTC ETF after less than a week
Less than a week out from its historic launch, ProShares is already seeking to amend its Bitcoin futures exchange-traded fund — the first in the U.S. — by filing for an exemption from trading limits at the Chicago Mercantile Exchange, where the fund purchases its futures contracts, according to an article in Barron’s. Fast facts […]
How Australia’s National Blockchain Roadmap sets an example for the world
The Australian government sees blockchain’s enormous benefits and is now actively developing the technology, writes Chami Akmeemana. What can other countries learn from this?
Why many banks are not keeping up with digital technologies
New technologies like blockchain and AI are transforming financial services, writes Myles Bertrand of Mambu. But APAC banks are lagging behind.
Australia looks to regulate crypto; Ethereum hits all-time high
Australia’s Senate report into fintech regulations includes 12 recommendations for a clear digital assets framework.
S. Korea’s top financial regulator accused of giving special treatment to Upbit
A lawmaker claims authorities gave the country’s largest crypto exchange privilege in meeting government requirements.
Tencent to establish gaming studio believed to be related to metaverse: report
Chinese internet giant Tencent reportedly plans to bet big on the metaverse — a trending idea on building a virtual world typically with the support of virtual and augmented reality technologies — and is looking to build an advanced gaming studio for that, the South China Morning Post reported on Wednesday, citing sources familiar with […]
Canadian crypto miner Hut 8 Mining to buy 12K new MicroBT rigs
Canadian crypto miner Hut 8 Mining announced yesterday that it would buy 12,000 new MicroBT mining machines for US$58.7 million from Inchigle Technology Hong Kong Ltd., as the mining company continues to expand its North American presence. Fast facts Hut 8 Mining said the new machines will represent an aggregate incremental production of 1.17 exahashes […]
Australia’s Senate releases long-awaited crypto report
The Senate unveiled its most comprehensive look at blockchain regulation, hoping to transform the country into a global industry leader.
2nd U.S. Bitcoin futures ETF starts trading today, and a 3rd will launch next week
Valkyrie Bitcoin Strategy Fund, the second Bitcoin futures exchange traded fund (ETF) in the U.S., is set to start trading today, while VanEck’s Bitcoin futures ETF, which also received approval this week, is expected to launch early next week. Fast facts ProShares Bitcoin Strategy Fund, the first U.S. Bitcoin futures ETF, started trading on the […]
Ethereum price touches new all-time high in altcoins rally
Ethereum prices surged to new heights ahead of next week’s Altair Beacon Chain upgrade but then pulled back. How do crypto experts make sense of it?
China releases plan to merge blockchain into global trade
China’s Ministry of Commerce, along with 23 other central departments, on Tuesday jointly issued “The 14th Five-Year Plan for Service & Trade Industries.” It outlines how China will integrate blockchain into the process of global trading, including applying blockchain on bills of lading, building a blockchain-based global shipping information network, and using blockchain to record […]
Bitcoin hits all-time high; Lotte World opens in metaverse
Bitcoin hits all-time high, also Lotte World opens in metaverse
Ripple expands cross-border payments using XRP with Tranglo in Asia, Al Ansari Exchange in Middle East
Despite its legal troubles in the U.S., San Francisco-based blockchain payments company Ripple has been pushing ahead to bring faster and cheaper cross-border payments using XRP in Asia and the Middle East. Fast facts Ripple and Tranglo, a Malaysia-based cross-border payments provider, today announced that Tranglo has launched its first live On-Demand Liquidity (ODL) service […]
Chinese e-commerce giant JD.com offers NFTs despite state media criticisms
Chinese e-commerce giant JD.com is giving away free non-fungible tokens (NFTs) to those who sign up for its annual technology conference JD Discovery, in a move to jump on the NFT bandwagon following its rivals Alibaba and Tencent. Fast facts JD.com’s tech arm JD Technology said yesterday in a social media post it is giving […]
Bitcoin reaches new all-time price high, but in a very different market since last time
When the world’s largest cryptocurrency last reached a price high, China had yet to crack down on crypto mining, and there was no U.S. Bitcoin futures ETF. What do changing market conditions mean for the growth of Bitcoin and the crypto industry?
A radically different financial architecture is here. Who will own it?
DeFi is a real-world experiment testing out a new model for finance, writes Alex Grebnev of Oxygen. What is the future of banking without Wall Street?
South Korean theme park Lotte World opens on metaverse
Lotte World Adventure, one of the most popular South Korean amusement parks, is opening a virtual replica on Naver’s Zepeto metaverse. Fast facts Lotte World Adventure constructed “Magic Island,” its outdoor section of the park, onto the Zepeto metaverse, which opens tonight at 6 p.m. Korea time. Upon entering the Lotte World map on the […]
Bitcoin price hits all-time high after ProShares ETF debut
Bitcoin set another record as it traded above US$67,000 Wednesday, one day after ProShares’ first-day trading volume reached nearly US$1 billion
Bitcoin passes US$65,000 to an all-time high
On the morning after the successful debut of the first U.S.-approved Bitcoin futures exchange-traded fund, Bitcoin’s price surpassed $65,000, reaching an all-time high. Fast facts On Wednesday, Bitcoin reached a high of US$67,276.79, according to Coingecko. Bitcoin’s previous peak was US$64,804.72 on April 14, 2021. The first U.S. Bitcoin-futures exchange-traded fund, ProShares Bitcoin Strategy ETF, […]
The crypto policy landscape and how to educate policy makers about Web 3.0 | Ep. 5
How the crypto economy is engaging with legislators, what policy makers need to know about Web 3.0 and what role the U.S. infrastructure bill has played in kickstarting better cryptocurrency education.
Bitcoin inches toward all-time-high; Mining difficulty on the up
Bitcoin inches toward all-time-high on the back of the first Bitcoin futures ETF in the U.S.
China’s crypto presence shrinks, while the U.S. rides the tide
More industry players are exiting the Chinese mainland market amid tougher crackdown.
Bitcoin becomes harder to mine with latest adjustment
Bitcoin miners saw another mining difficulty adjustment on Tuesday, with an increase of 0.95%, according to data from BTC.com. Fast facts The mining difficulty level is now at 20.08 trillion at block height 705,600, reflecting the most difficult level since a previous adjustment on May 30, the data show. The latest adjustment follows six increases after four consecutive […]
How to make sense of the hot new digital assets, like Bored Apes? Think: Lego blocks
Money, culture and community are now converging in NFTs and the token economy, writes Lily Z. King. Welcome to a new world where ‘money Lego’ meets ‘culture Lego.’
South Korean crypto exchanges look for new revenue sources
After iron-fisted regulations closed down many exchanges, remaining trading platforms look for alternatives to transaction fees.
37% of Singaporeans use or are keen on crypto for purchases — but more are uninterested: report
More than one-third — or 37% — of Singapore residents are already using or are interested in using cryptocurrencies to pay for purchases, according to the latest research from Worldpay from FIS, a payment platform. But nearly half — or 47% — of Singaporean respondents said that they were not interested in using cryptocurrencies for payments. […]
Atlas expands crypto mining operations in U.S. with Compute North
Singapore-based Atlas Mining today announced that it is expanding its cryptocurrency mining operations in the United States in a multi-year hosting service agreement with Compute North, a U.S.-based cryptocurrency mining infrastructure provider. Fast facts The deal will see Compute North providing over 100 megawatts colocation capacity — enough to power a small city — for […]