An open letter to Sen. Elizabeth Warren: Your shotgun approach to crypto is dangerous for America

FTX’s implosion is spurring a regulatory scramble to rein in the crypto sector. But one influential US lawmaker may do more harm than good, writes Kadan Stadelmann, CTO of Komodo.

Will Genesis meet its maker amid creditors closing in?

Top blockchain and crypto news: Genesis bankruptcy begins. FTX chief ponders a reboot. China’s CBDC gets a smart-contract upgrade.

Why Islamic finance is thriving despite global market storms

While much of the world economy remains mired in winter doldrums, it’s springtime for the Islamic finance sector. Mohammed AlKaff AlHashmi of Islamic Coin explains why.

India’s CoinDCX exchange says crypto tax rules are reducing government revenue

India announces its full year budget on Feb. 1, the last before general elections in 2024, and the cryptocurrency and digital asset industry is lobbying the government for changes in tax rules, among others.

Why Europe’s DORA regulation is a band aid but not a cure

EU’s new Digital Operational Resilience Act aims to help firms withstand cyberattacks. Monica Oravcova of Naoris Protocol explains why it doesn’t go far enough.

2023 Should be the Year of Web3 Security

Despite 2022’s turbulent impact on the crypto industry, Immunefi CEO Mitchell Amador believes this year could encourage better Web3 security.

Weekly Market Wrap: Bitcoin up over 21% in best weekly performance since Feb. 2021. Bull run or bull trap?

Bitcoin’s price has had its best weekly run up since February 2021 in the seven days through Jan. 18, but is that the start of a bull run or setting up the optimists for a sucker punch? Experts share their predictions with Forkast.

Stuck in stone? Why DLT transactions should be reversible

Why insist that ‘code is law’ when the reality is riddled with human error, sloppy design and tampering? Paul Madsen of HBAR Foundation reexamines one of the central tenets of blockchain technology.

Genesis, Gemini face US charges over unregistered securities sales

Top blockchain and crypto news: SEC frowns on Genesis, Gemini. Solana soars. Will China tighten its embrace of WeChat Pay and Alipay to push its CBDC?

China NFT platforms expand into Hong Kong in face of compliance risks on mainland

Hong Kong’s new digital asset-friendly policies could set the city up as the home for secondary NFT marketplaces from China as trading of ‘digital collectibles’ remains a gray area on the mainland.

It’s Ethereum forking time

Although investors fear the Shanghai upgrade brings selling pressure to Ethereum, Amber’s Justin D’Anethan shares why this can be a bull case for Ethereum.

What does the future hold for digital assets in 2023?

NFTs, tokenization and blockchain-based cross-border payments will see big paradigm shifts, but their success will depend on regulation, investment and adoption, writes Stephen Richardson of Fireblocks.

Weekly Market Wrap: Bitcoin rebounds above US$18,000, Ether gains over 13%

Bitcoin rallied above the US$18,000 mark for the first time in nearly a month. Is this the start of a bull run or just another relief rally on the back of easing inflation pressure?

Why is it harder to arrest Terra-Luna founder Do Kwon than FTX’s Sam Bankman-Fried?

South Korea’s attempts to extradite the founder of the collapsed Terra-Luna stablecoin will remain hamstrung while the courts in Seoul dispute the charges against him.

Bankrupt FTX exchange has recovered US$5 bln worth of ‘liquid’ assets, lawyers say

The names of the crypto exchange’s 9 million customers and creditors will remain sealed from the public for at least three months.

How DeFi can overcome the stench of shitcoins and ponzinomics

DeFi Summer has cooled into Crypto Winter, but with a silver lining — investors are finally asking sensible questions like: ‘Where does the yield come from?’ writes Julian Koh of Ribbon Finance.

Digital Currency Group in spotlight over suspicious fund transfers

Top blockchain and crypto news: DCG under investigation. Lido DAO surges as Ethereum’s Shanghai upgrade looms. Hong Kong burnishes crypto credentials.

India’s CoinSwitch exchange to add non-crypto products amid punishing taxes on digital asset trading

Indian cryptocurrency exchanges faced a flurry of taxes on trading last year that saw volumes across most platforms drop as much as 90%, slashing income from trading fees. What’s a crypto exchange to do? Maybe sell mutual funds?

FastForkast headlines

Markets: Bitcoin, Ether up; ADA posts most gains among top 10 cryptos

Markets: Bitcoin, Ether prices rise as crypto market stages rebound; Solana biggest gainer among top 10

DCG-owned Luno exchange to axe 35% of its staff

Bankrupt BlockFi’s financials show US$1.2 bln exposure to FTX, Alameda: report

Binance says it erroneously mixed customer funds with collateral for Binance-issued tokens

Japan’s financial regulator aims to lift ban on foreign stablecoins by June this year

Regulators should not legitimize ‘purely speculative’ crypto activity: Singapore’s monetary authority chief

Markets: Bitcoin rises above US$23,000; Polkadot, BNB lead gains across top 10 cryptos

Ethereum’s Shanghai Mainnet moves one step closer as “Shadow Fork” goes live

Binance says Signature Bank no longer supports crypto exchange transactions of under US$100,000

Markets: Bitcoin slips, remains above US$22,000; Dogecoin leads gains

Binance Charity to fund over 30,000 Web3 scholarships in 2023

Genesis’s trading arm moving funds on blockchain, bankrupt units reveal extent of liabilities

Markets: Bitcoin holds at four-month high above US$22,000, crypto market cap back over US$1 trillion

Crypto is second most owned asset class for young women after cash: report

Markets: Bitcoin dips below US$21,000

Binance among top Bitcoin receivers of Bitzlato’s illegal funds, FinCEN says

FTX chief John Ray mulls resurrection of collapsed crypto exchange

Cardano expresses interest in buying CoinDesk from cash-strapped Digital Currency Group

Digital Currency Group’s crypto brokerage Genesis Global Capital files for bankruptcy

Universal digital payments network for stablecoins, CBDCs launches at Davos

S. Korean city Busan to launch digital commodities exchange, shelves crypto

Singapore-based crypto unicorn Amber Group slashes Hong Kong workforce, SCMP reports

Markets: Bitcoin, Ether fall on U.S. economy worries, hawkish Fed comments on interest rates

Coinbase asks Japan customers to withdraw holdings as it halts operations

Markets: Bitcoin, Ether rise further; Dogecoin leads gains in top 10 cryptos

Silvergate reports US$1 billion loss, attributes to “crisis of confidence” in crypto sector

FTX says US$415 mln in crypto hacked since bankruptcy filing

Thailand’s SEC issues new regulations for crypto custody services

North Korean hackers move 41,000 ETH stolen from Harmony Bridge attack

Monex Group expresses interest in bidding in upcoming sale of FTX Japan: Bloomberg

Markets: Bitcoin holds above US$21,000 as crypto market cap briefly tops US$1 trillion

Markets: Bitcoin, Ether rises; Solana is biggest gainer among top 10

CEO of South Korea’s V Global US$2 bln crypto pyramid scheme gets 25 years in prison

Markets: Bitcoin, Ether little changed after weekend surge; Solana, XRP give back some gains

Crypto lender Hodlnaut’s creditors reject restructuring plan, prefer liquidation: report announces 20% cut in headcount, cites post-FTX market conditions

SEC in the U.S. charges Genesis, Gemini with selling unregistered securities

Bitcoin price rebounds as U.S. inflation cools

Nexo office in Bulgaria raided over fraud, money laundering suspicion

Binance obtains approval in Sweden to fuel Europe expansion

Binance says it plans to expand hiring by as much as 30% in 2023 as rivals cut jobs

FTX loses Miami Heat stadium sponsorship

Hong Kong crypto exchanges to follow same laws as traditional finance

India’s WazirX crypto exchange releases proof of reserves, says 90% of user assets in Binance wallets

Thai regulator probes Zipmex crypto exchange amid acquisition: report

Binance U.S. gets court approval to buy Voyager Digital for US$20 mln

Markets: Bitcoin, Ether strengthen; XRP leads gains in top 10 cryptos

Bitcoin named dirtiest crypto of 2022, tops major tokens in carbon emissions: Forex Suggest

MetaMask developer ConsenSys to slash 100 or more staffers: report

Markets: Bitcoin, Ether follow U.S. equities higher on view inflation starting to ease despite hawkish Fed

Coinbase to cut 20% of its remaining workforce

Microsoft mulls US$10 bln investment in ChatGPT’s OpenAI

Markets: Bitcoin slips, Cardano leads losses in top 10 cryptos