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?
The broader market recovery following the May crash continues with five of the top 10 coins by market cap showing double-digit growth over the past seven days, according to data from CoinMarketCap.com. Fast facts Continuing its historic run, Solana (SOL) showed the most movement, gaining over 45% this past week to hit a new all-time […]
In another sign of increasing regulatory pressure on the crypto industry, the U.S. Securities and Exchange Commission is investigating Uniswap Labs, the developer behind the decentralized exchange of the same name, the Wall Street Journal reported on Friday. Fast facts Citing people familiar with the matter, the report said the SEC is seeking information on […]
In response to increased scrutiny from regulators, crypto exchange Binance is removing itself from app stores in Singapore, as well as ending support for trading pairs and payment options in the Singapore dollar (SGD), according to a company press release. The move takes effect Friday, Sept. 10 at 04:00 UTC. Fast facts Last week, the Monetary Authority […]
Gajesh Naik and Laya Mathikshara, two Indian 13-year-olds, are getting global recognition — and making astronomical sums — through their ventures in crypto and NFTs.
As the blockchain industry shifts to ‘proof of stake,’ staking’s bonding period can lock up capital. What are the alternatives?
Too small to fight as individuals, Binance users are now banding together to take on the world’s largest crypto exchange in arbitration. David Kay of Liti Capital explains how it’s done.
TokenSociety.io, a non-fungible token minting platform and marketplace for the entertainment industry, has completed its first NFT Drop for the pilot episode of “Men of the House,” a situation comedy TV series, the company announced today. Fast facts The pilot episode of “Men of the House” is completely financed through the sale of its NFTs […]
As governments and citizens embrace digital currencies of all kinds, from Bitcoin to CBDCs, here’s what the world and daily life could look like.
The veil of uncertainty that has shrouded crypto regulatory discussions seems to be lifting, but how the government will regulate and tax digital money remains to be seen.
Deadline looms for Korean exchanges as Doge meme valuation explodes
Crypto trading platforms rush to meet a Sept. 24 deadline, hoping to comply with new rules designed to protect investors.
In another positive move for Japan’s crypto industry, financial services group SBI Holdings Inc. plans to launch a crypto fund in the country before the end of November, according to a report by Bloomberg. Fast facts Citing Tomoya Asakura, president of SBI affiliate Morningstar Japan K.K., Bloomberg reported the fund could grow to several hundred […]
What does it mean to own an NFT? Furthermore, what does it mean to own a billionth of an NFT? For Doge lovers, it might be a good investment, or barking mad.
Poolin, a major cryptocurrency mining pool with significant operations in China, on Thursday announced a partnership with Quant Satoshi to further expand its mining operation in the U.S. Fast facts Poolin has partnered with Quant Satoshi, an American quantitative trading firm that focuses on crypto high frequency trading, to expand Poolin’s U.S. presence, the company […]
As Bitcoin continues to battle the $50,000 level, Ethereum rises in dominance while smart contract platforms Solana and Cardano buck the sideways trend to reach new price levels.
In the first eight months of 2021, the fledgling but fast-growing cryptocurrency industry saw almost as many companies come to market as 2019 and 2020 combined, according to the “The Arrival of Cryptocurrency Stocks” report published this month by CoinShares Research. Fast facts As of August 20201, there were 57 publicly listed cryptocurrency pure play […]
Overruling Ripple’s objections over cost, a judge gives the SEC a green light to review more XRP-related Slack communications.
India crypto exchanges allow bank deposits while FTT token on a roll
C.R.E.A.M. Finance suffered a flash loan exploit that was much larger than earlier estimates
Singapore-based digital securities exchange ADDX today announced it had reached a US$200 million agreement that will give accredited investors in China access to digital securities covering various asset types, the company said. Fast facts According to a company statement, ADDX has reached an agreement with ICHAM, a Singapore-regulated wealth and fund management company, to be […]
Donkey, launched Sept. 1, aims to become a DeFi service that brings more South Korean investors into decentralized finance by making their favorite cryptos more scalable and available. Fast facts Donkey is a virtual asset deposit and lending protocol that runs on the Ethereum blockchain where anyone can deposit crypto as collateral and borrow other […]
NFTs, metaverses and ‘play-to-earn’ are upending gaming’s traditional revenue model. Shreyansh Singh of Polygon explains blockchain gaming’s business potential.
After only four months in the position, “Crypto Dad” Chris Giancarlo is stepping down from BlockFi’s board of directors, according to a recent press release. No reason for Giancarlo’s departure has yet been provided, though he apparently will continue to provide strategic counsel to the firm in an advisory role. Fast facts Ellen-Blair Chube, Managing […]
The United States, Vietnam, Thailand, China and the United Kingdom lead global adoption in decentralized finance (DeFi), according to Chainalysis’ Global DeFi Adoption Index published this month. Fast facts “While grassroots cryptocurrency adoption generally is highest in emerging markets, DeFi adoption is strongest in high-income countries that already had substantial cryptocurrency usage, especially amongst traders […]
The Monetary Authority of Singapore (MAS) today added Binance.com — the world’s largest cryptocurrency exchange by trading value — to its Investor Alert List, according to local media reports. Fast facts MAS’ Investor Alert List flags entities that are unregulated, but may have given the public the impression that they are licensed by MAS. In […]
The founder of the now-defunct crypto exchange BitConnect is being sued for a US$2 billion “textbook Ponzi scheme” by the U.S. Securities and Exchange Commission, according to a Reuters report. Fast facts The SEC alleges BitConnect’s founder Satish Kumbhani, an Indian citizen, lied about the exchange’s ability to earn 40% returns on investments of BitConnect’s […]
The Bank for International Settlements (BIS) Innovation Hub together with the central banks of Australia, Malaysia, Singapore and South Africa today announced they will be collaborating to test the use of central bank digital currencies (CBDCs) for international settlements. Fast facts According to a joint statement, the pilot is part of Project Dunbar, a wholesale […]
Top blockchain and crypto news: Does TBD stand for Twitter Boss Decision? NFTs’ ballooning interest. How billions in e-yuan are coursing through China.
China’s BSN to launch in South Korea portal as Chinese Canaan secures huge mining rig orders
The multiplayer online role-playing game is widely popular elsewhere, while Korea bans play-to-earn crypto and NFT trading.
Genesis Digital Assets signs deal for 20K mining machines to fuel growth in North America, Nordic region
The order follows a June purchase by Genesis of 10K machines from China-based Canaan, one of the world’s biggest Bitcoin mining rig makers
A week out from El Salvador’s adoption of BTC as legal tender, the country’s legislative assembly has approved a US$150 million trust to help facilitate exchange between BTC and the U.S. dollar – the nation’s current official currency, according to a report by local newspaper El Diario de Hoy. Fast facts Last week, Forkast.News reported […]
The Securities Association of China (SAC), a self-regulatory organization for the securities industry, recently held a symposium with Chinese brokerages to promote blockchain applications in China’s securities industry. The deputy director of the association’s Tech Bureau, Dongxing Jiang, said the association will implement its blockchain infrastructure plan, known as the “Securities Industry Alliance Chain,” and […]
Dogecoin keeps spawning pups, and this time, it could be quite a litter. In yet another spinoff of the crypto industry’s biggest meme, fractionalized ownership of the non-fungible token (NFT) of the original Shiba Inu image that launched Dogecoin is up for sale today in the form of $DOGE tokens, Bloomberg reports. Fast facts Ownership […]
FOMO Pay, a Singapore-based fintech company, announced today that it has obtained a license from the Monetary Authority of Singapore (MAS) to provide Digital Payment Token Service — the first such approval out of 170 applicants for the city-state that is rapidly becoming a global crypto hub. Fast facts FOMO Pay said it had been […]
Blockchain is helping with cross-examinations in China while bolstering chain of custody for evidence in Taiwan. Is Asia ahead of the technological legal curve?
FTX US, the affiliate of Hong Kong-based crypto derivatives exchange FTX, on Tuesday announced that it was acquiring Ledger Holdings Inc., parent company of LedgerX, a digital currency futures and options exchange regulated by the Commodity Futures Trading Commission (CFTC). Fast facts LedgerX is a CFTC-regulated designated contract market (DCM), swap execution facility (SEF) and […]
MetaMask, a non-custodial wallet that allows users to interact with the Ethereum blockchain and Ethereum-compatible networks such as Polygon, has seen its monthly active users surge over 1,800% in the past year to surpass 10 million, according to ConsenSys, an Ethereum blockchain software developer. Fast facts Alongside the explosive growth of the Ethereum ecosystem from […]
The9 launches NFT platform meanwhile HK SFC issues crypto warning
A fascination with 8s could be related to the fact that the Chinese pronunciation of the number 8 or “Ba” is similar to that of “發” or “Fa,” which stands for wealth and prosperity.
The battle over discovery escalates between SEC and Ripple over what might have been said about the XRP at Ripple’s all-hands meetings since 2014. Will there be popcorn?
C.R.E.A.M. Finance, a Taipei-based decentralized lending platform for individuals, institutions and protocols to access financial services, has suffered a flash loan exploit that led to a loss of about US$28 million, underlining the potential vulnerabilities of decentralized finance mechanisms. Fast facts C.R.E.A.M. tweeted on Monday that its market on Ethereum suffered an exploit, “resulting in […]
Three of South Korea’s four major exchanges have launched a joint venture to develop solutions for complying with the Financial Action Task Force’s (FATF) crypto travel rule. The travel rule sets a global standard for virtual asset service providers to combat money laundering and terrorist financing and requires exchanges to collect information on senders and […]
Zipmex, a Singapore-based cryptocurrency exchange, has completed a US$41 million Series B funding round as it innovates toward a “full 360 digital banking offering,” the company said during a media briefing today. Fast facts Investors in Zipmex’s Series B funding round indicate increasing institutional buy-in to the digital assets industry. The investors include Krungsri Finnovate, […]
Facebook’s Novi is ready to launch. Here’s why the Diem crypto wallet might find an especially warm welcome in places like the Philippines and Malaysia.
Nigeria, a country with one of the world’s highest cryptocurrency adoption rates, is moving ahead with its plan for a central bank digital currency pilot project called Project Giant. The Central Bank of Nigeria has selected Bitt Inc., a Barbados-based fintech startup, as its technical partner for the project, which is scheduled to launch on […]
Though crypto is not yet part of daily life, it may be a matter of time, writes Simon Yu of StormX. Here are the keys to the industry’s long-term success.
The9 Ltd., a Chinese gaming company that pivoted earlier this year to cryptocurrency mining, unveils plans to get into non-fungible token business, reflecting the company’s ambition to ramp up its blockchain-based operation. Fast facts Nasdaq-listed The9 has announced that its Singapore-based subsidiary NFTSTAR Singapore Pte. Ltd. will launch a NFT trading and community platform NFTSTAR […]
John Paulson, the billionaire who famously shorted the U.S. subprime mortgage bubble in 2008, has called crypto a bubble that will “eventually prove to be worthless” in an interview with Bloomberg TV. Fast facts “I wouldn’t advise anyone to invest in cryptocurrencies,” said the 65-year-old, who has consistently backed gold as a store of value. […]
Hong Kong’s Securities and Futures Commission on Monday warned that digital tokens and initial coin offerings (ICOs) could be involved in unauthorized collective investment schemes (CIS) and urged investors to exercise extreme caution. Fast facts The SFC’s warning comes as the regulator added two property-related CIS investment projects and the “LABS Security Token” to its […]
Korea’s love for crypto continues while Crypto exchange Bilaxy hacked
The 20th hijack this month, after Poly Network, Solend and Liquid.
As Bitcoin and Ethereum drop after a quick ascent, the surge of Solana (SOL) continues. SOL hit a new all-time high of US$102.07 today, with its market cap reaching over US$29 billion. The world’s eighth largest cryptocurrency has been consecutively hitting new all-time highs in the past four days. Fast facts The market cap of […]
Tens of billions in digital yuan circulate through the banks’ systems, as leaders encourage wider adoption.