Under scrutiny around the world, the largest cryptocurrency exchange wants to do a better job engaging with regulators.
AVAX — the native token of the Avalanche blockchain — today surged to a new all-time high of US$68.34, according to CoinGecko data, boosted by news of a US$230 million investment into the Avalanche ecosystem. AVAX has increased by 60% over the past seven days. Fast facts Launched in September 2020, Avalanche is an open, […]
As Cardano’s Alonzo upgrade goes live, founder Charles Hoskinson of IOHK calls DeFi a ‘bubble.’ How does he think the regulation that is sure to come will reshape DeFi in the future?
What is quadratic funding, and why is this mathematical method ideal for allocating capital for a community? Pranav Sharma of Woodstock Fund explains.
Babel Finance, a Hong Kong-based crypto lender and asset manager, today announced it is opening a business headquarters in Singapore named Babel Asia, as the company looks to serve more clients globally. Fast facts Babel Asia plans to serve as a base for future merger and acquisition activities, together with Babel Finance to drive mainstream […]
With the ease of counterfeiting products like premium tea, keeping a tamper-proof digital paper trail can record each step along the way.
Canaan reports record revenues meanwhile Korea says no to crypto tax delay
Leading Chinese crypto mining hardware manufacturer attributes robust revenue to ‘substantial increase in total computing power sold.’
Blockchain Association Singapore (BAS) and Singapore’s National Trades Union Congress (NTUC) U Care Fund today announced their inaugural non-fungible token (NFT) charity auction event, Blockchain For Good, which will take place Oct. 4 to 10. Fast facts The charity initiative — supported by a wide range of companies including Singapore Airlines, Amazon Web Services Inc., […]
South Korea’s finance minister Hong Nam-ki gave a firm “no” at the National Assembly to lawmakers asking for crypto taxation to be delayed until the industry is fully prepared. Fast facts Minister Hong insisted the plan to tax capital gains from cryptocurrency transactions should be executed as planned. The amended tax law stipulates that crypto […]
Blockchain-based Service Network (BSN) soft launch is the first attempt to roll out the state-backed ‘internet for blockchain’ outside of the Chinese mainland.
As the trading volume in non-fungible tokens begins to slow down from recent record heights, leading NFT marketplace OpenSea has been rocked by an insider trading scandal involving a senior team member. Fast facts The company, dubbed “the eBay of NFTs,” issued a statement yesterday acknowledging it became aware on Tuesday that an employee had […]
Solana validators complete restart also Laos ends crypto ban
Top blockchain and crypto news: Walmart dispels Litecoin hoax. Cardano’s real work begins. Beijing bears down on NFTs.
In his testimony before the Senate Banking Committee, Gary Gensler, chairman of the U.S. Securities and Exchange Commission, said that Coinbase lists “dozens of tokens that may be securities.” Fast facts In response to Senator Pat Toomey’s questions about whether cryptocurrencies classify as securities, Gensler said “very many” of the cryptocurrencies, including stablecoins, are in […]
SOL had been on a tear but is now losing ground. Is Solana a victim of its own success — or does the network have deeper problems?
Three banks — the Bank of China, Singapore’s DBS and HSBC — have partnered with the Global Shipping Business Network (GSBN), a Hong Kong-based non-profit consortium that recently launched a blockchain-based trade platform, to form a trade finance advisory group, according to a media release shared with Forkast.News today. Fast facts Trade finance — the […]
The government of Laos has authorized six firms to trade and mine cryptocurrencies, ending a ban imposed in 2018, according to a recent notice from the prime minister’s office. Fast facts Laos had implemented a complete ban on cryptocurrencies three years ago, including on trading and mining activities. As recently as last month, the country’s […]
Mid-sized crypto exchange Foblgate announced the closure of its Korean won (KRW) trading functions in advance of a government mandate banning digital asset platforms from operating cash-to-crypto services without a local bank partnership. Fast facts Foblgate announced it is temporarily suspending its KRW withdrawal, deposit and trading market between cryptocurrencies and the Korean won. Instead, […]
FTX hit by hack rumor meanwhile Korea updates crypto death note
Financial authorities reveal an updated list of virtual asset platforms that have complied with new regulations.
More provinces in China are putting new limits on the cryptocurrency mining sector, as the country works toward its carbon neutrality goals and concerns over cryptocurrency trading loom. Fast facts Authorities in North China’s Hebei province today issued a notice to crack down on cryptocurrency mining and trading activities, saying that crypto mining consumes huge […]
Scams and fake news have long dogged the crypto world. This week saw two major blockchain companies and a global retailer get swept up by hack rumors or hoaxes.
In the latest response to a growing interest in non-fungible tokens, Beijing Business Today faults an art marketplace.
Ernst & Young, one of the Big Four consulting multinationals, announced today it has integrated India-based Polygon, a Layer 2 Ethereum scaling solution, to allow its corporate clients to process blockchain-based transactions on the Ethereum mainnet. Fast facts EY has connected the public Polygon commit chain with EY’s blockchain services including EY OpsChain and EY […]
Ahead of the U.S. Banking Committee’s hearing on the “Oversight of the U.S. Securities and Exchange Commission” today, SEC Chairman Gary Gensler reiterated his call for crypto platforms and projects that have securities to register with the agency. Fast facts In prepared remarks, Gensler emphasized the concerns he sees over the lack of investor protection […]
CrossTower became the second international crypto exchange to enter the Indian market last week after Binance made its entry by acquiring WazirX in 2019.
A sister paper of the People’s Daily, Securities Times, published an opinion piece to criticize non-fungible tokens (NFTs) as hype and suggested the digital assets should serve the real economy by tokenizing actual assets. Fast facts The article offers as an example Justin Sun’s NFT purchase of a digital avatar for US$10.5 million and the […]
E-CNY problems to be solved, also China sees warning over NFT hype
A few altcoins managed to stand out coming into the working week as Solana’s tear comes to an end.
In this Forkast.News explainer, learn why blockchains with smart contract capability are surging in popularity and the new darlings of investors.
Crypto in 2021 is like the early days of the internet, writes Hisham Khan of Aldrin. Here’s why the quality of user experience will decide the industry’s future.
Why is Axie Infinity so popular, and what is the potential of play-to-earn gaming? Two venture capitalists share insights on Asia’s special place as GameFi’s hub.
Cardano smart contracts set for Sunday also CrossTower launches in India
In another example of harnessing blockchain technology in the legal world, the Zhejiang Patent Office launched China’s first intellectual property blockchain certification platform on Thursday in Hangzhou, Zhejiang Province’s capital city. Fast facts The platform provides users with a blockchain certification after they upload pictures or description documents of their original creation, such as art […]
Payments giant Mastercard announced it is extending its reach into the realm of cryptocurrency with the acquisition of CipherTrace, a blockchain analytics startup, for “greater security, transparency and trust to digital assets across the ecosystem.” Fast facts CipherTrace, which calls itself the world’s first blockchain forensics team, provides cryptocurrency tracking and investigation services. It launched an […]
Cardano’s Alonzo hard fork will bring smart contracts and NFT support to the world’s third-largest blockchain. What will it mean for the crypto market?
A Canadian-American citizen, who laundered tens of millions of dollars for cybercriminals including North Korea’s military intelligence agency hackers, has been sentenced to 11 years in prison, the U.S. Department of Justice announced. Fast facts Ghaleb Alaumary, 36, pleaded guilty to money laundering in 2020 and has been asked to pay US$30 million in restitution […]
The Sandbox, Animoca Brand’s subsidiary for decentralized virtual gaming, announces partnership with animation studio in Korea.
Singapore’s cult-favorite premium collectibles maker XM Studios finances expansion plans through tokenization
Design studio that makes hand-crafted statues for global brands such as Marvel, DC Comics and Hasbro plans to expand into new product categories, markets and NFTs.
El Salvador’s Bitcoin embrace may be a domino for some emerging markets, but a fierce rival to the BTC is also coming to the fore.
Algorand’s ALGO cryptocurrency prices have surged by 90% over the past seven days, crossing the US$2 mark and hit a two-year high of US$2.44 today, according to CoinGecko data. ALGO, ranked the 17th largest cryptocurrency by market value, has not seen such price heights since its launch in 2019. Fast facts Algorand is an open-source, […]
At the risk of losing billions, crypto industry officials weigh options to oppose authorities.
Korea crypto damage assessed meanwhile Initium’s news based NFTs sell out
Billionaire investor Mark Cuban says Coinbase should “go on the offensive” against the U.S. Securities and Exchange Commission in its feud over high-yield savings account Lend. Brad Garlinghouse, CEO of Ripple — which is itself embroiled in ongoing litigation with the SEC — quipped “Welcome to the party” in a GIF tweet. Fast facts In […]
China-based Bitmain, one of the world’s biggest producers of cryptocurrency mining rigs, has sealed a deal with its United States partners — ISW Holdings and Bit5ive — to expand its operation in America. Fast facts ISW Holdings, a Nevada-based portfolio company with extensive crypto mining operations, will host 56,000 Bitmain mining rigs and pair them […]
Initium Media, also known as 端傳媒, is turning to blockchain technology to grow revenue and to ensure controversial news does not get forgotten — or tampered with.
As most of the market saw a 10% to 15% dip in the past 48 hours, Solana (SOL) has defied that trend, crossing the US$200 mark for the first time and becoming the new sixth-largest coin by market cap a few hours ago, according to data from CoinMarketCap.com. Fast facts SOL was trading at US$205.27 […]
As the debate over cryptocurrency’s carbon footprint rages on, leading bitcoin miner Blockstream is developing new zero-carbon Bitcoin mining facilities in partnership with Australia-based financial services giant Macquarie Group, according to a company blog post. Fast facts The first pilot site will be in the U.S. where Blockstream will leverage Macquarie’s experience in green investments […]
Following crypto’s adoption in one struggling economy, nations in Latin America and elsewhere are now weighing the pros and cons of digital currency
KILT Protocol, an open-source blockchain protocol for issuing self-sovereign, anonymous and verifiable credentials, has won the sixth Kusama parachain auction and has launched its mainnet, the project announced yesterday. Kusama is Polkadot’s canary network for blockchain developers to build and test out their code as well as products and services. Fast facts KILT Protocol had […]
As non-fungible tokens break into the mainstream, experts advise buyers to do research and watch for a correction.
A Chinese game company, Zhong Qing Bao, announced a metaverse game, and its stock rose considerably this week for two days in a row. Fast facts The game’s name is Brew Master, a game that lets players pretend to be winemakers and trade the wines that they make as NFTs. Two days after the game […]
What was internet censorship like in the early days, how has it changed, and what role does decentralization play.
Have DeFi exploits on BSC hindered the blockchain’s success? NFTs and gaming offer a boost.
Smaller virtual asset exchanges ask for mercy as a deadline looms to commit to Korea’s new standards.
Bitcoin price plunges however Metaverse actions heats up in China
Top blockchain and cryptocurrency news: El Salvador’s BTC experiment. EthereumMax and the power of celebrity. Hong Kong shores up regulatory oversight.
Despite significant losses across the board, industry experts are not too concerned, seeing the plunge as normal market behavior.
Crypto platform CEO claims regulators use ‘intimidation tactics behind closed doors’ by refusing to provide clarity.
An official from Hong Kong’s Securities and Futures Commission said on Tuesday that the regulator wants to increase oversight of virtual assets because scams related to them have emerged in the market, according to a report by local media etnet. Fast facts Julia Leung, deputy chief executive officer at SFC, said Tuesday at a webinar […]
Just one day after El Salvador’s highly-anticipated adoption of Bitcoin as legal tender, the country’s recently acquired nest egg of 400 BTC lost roughly US$2.5 million in value as the entire crypto market saw a loss of 10% to 15% in 24 hours, according to CoinMarketCap.com Fast facts Bitcoin was trading around a four-month high […]
What are the different kinds of blockchain, and how do they compare? Learn all about public, private and permissioned platforms in this Forkast.News explainer.
The Central American nation opens up the next chapter in the history of the world’s biggest cryptocurrency.
Solana hits all-time19 high as FTX’s NFT marketplace spammed
FTX is the latest crypto exchange to join the NFT bandwagon. “Make your own NFTs,” CEO Sam Bankman-Fried tweeted.
Charles Randell, chairman of the U.K.’s Financial Conduct Authority and chair of the Payments Systems Regulator, singled out celebrity influencer Kim Kardashian in his latest speech for endorsing a relatively unknown and unregulated token. Fast facts In June, Kardashian endorsed EthereumMax, a project launched by unknown developers in May 2021. Kardashian, wife of rapper Kanye […]
Solana (SOL) is continuing to break new ground, gaining 22% in the past 24 hours to reach a new all-time high of US$177.95 at press time, according to data from CoinMarketCap.com. Fast facts It has been a historic run for the network, which rose 45% over the previous week to reach its previous all-time high […]
Only 21 out of 60 exchanges are expected to continue their services in Korea.
Korean exchanges offered lifeline while NFL bans crypto sponsorships
The American football league’s 32 teams cannot sell NFTs or accept backing from crypto trading firms — at least for now.
It’s hard to move forward on a CBDC when those in charge can’t agree. Is time running out for an American digital dollar?