The curious timing behind China’s thunder and lightning at crypto
China assaulted crypto with a new ferocity just as Bitcoin options expired and Evergrande escaped death. Coincidence? Ben Caselin of AAX lays out the clues.
Binance to restrict Singapore users from buying crypto and spot trading on Binance.com
Amid growing regulatory heat, Binance — the world’s largest cryptocurrency exchange by trading volume — will restrict users in Singapore from buying cryptocurrencies using fiat, spot trading and liquid swaps on its main Binance.com platform starting Oct. 26, according to a company announcement. Fast facts Binance is advising Binance.com users in Singapore to cease all […]
China’s crypto crackdown: What it means
China’s crypto crackdown and what it means
FTX CEO: This is the canary in China’s crypto ban coal mine
Amid China’s new clampdown, why is DeFi surging and the RMB-to-crypto market important? Sam Bankman-Fried analyzes what it all means and why FTX is leaving Hong Kong for a new home.
Chinese crypto exchange Huobi looks to the world as China shuts the door on crypto
Huobi’s diversified businesses outside of China reached nearly 70% in terms of trading volumes, and have been on the rise, its co-founder tells Forkast.News.
Industry players scramble, evaluate options as China bans all crypto transactions
China’s intensified crackdown on cryptocurrency leaves service providers looking to stay compliant with Friday’s abrupt announcement.
Ban or no ban, Indian crypto industry is thriving
India’s crypto industry will grow over 200% to reach $241M by 2030, a new study says.
Crypto markets shrug off China’s latest saber-rattling
Is China’s influence over Bitcoin and the global crypto market waning? Chinese exchanges get a thrashing as decentralized exchanges get happy on clampdown news.
What does China’s crypto ban really mean? Insights from the ground
China’s hardline stance against crypto is already rippling beyond its borders. A mainland crypto insider explains the global shakeup yet to come.
Crypto market is shaken as China declares all crypto transactions illegal
Bitcoin and Ethereum prices fall after Beijing intensifies crackdown on crypto trading, mining.
D-day for Korean crypto exchanges; e-CNY project speeds up
D-day for Korean crypto exchanges meanwhile e-CNY project speeds up
Former US Treasury advisor predicts no ‘real action’ from Fed on CBDC
While a US digital dollar is stuck at pole position, China’s digital yuan is nearing the finish line. Michael B. Greenwald of Tiedemann Advisors explains why it matters to the future global economy.
Digital yuan could come to overseas users to challenge dollar dominance: policy bank expert
China may be a small step closer to internationalizing the yuan, though its central bank says the e-CNY is now mostly tested for domestic use.
How Southeast Asia flowered into a global crypto hub
Until recently, most Southeast Asians had no internet. Now the region is abloom with blockchain innovation. How did they do it?
81 of top 100 companies use blockchain technology, Blockdata research shows
Survey shows growing consensus on adoption, investment and use cases. ‘Blockchain is here to stay.’
Crypto unicorn Amber Group eyes listing in U.S. despite lack of regulatory clarity
Amber Group, a Hong Kong-based crypto financial services company, is eyeing a direct listing in the U.S. within the next two years, Amber Group co-founder and CEO Michael Wu told the South China Morning Post in an interview. Fast facts Founded in 2017, Amber Group propelled to unicorn status this year following its US$100 million Series […]
South Korea’s crypto crackdown: What you need to know
The country’s crypto industry has been turned upside down with stricter operating rules that take effect tomorrow.
After Evergrande, will virtual real estate be the next alternative asset class?
The property market is increasingly expensive and out of reach for today’s younger generation. Digital land sales may hit home with some buyers.
Bhutan to adopt Ripple’s XRP technology for CBDC pilot
Ripple’s win in Bhutan comes as it suffers a setback in a US court as judge rebuffs Ripple’s request for SEC’s internal trading decisions over XRP.
Crypto investors brush off Evergrande
The cryptocurrency market has rebounded in the past 24 hours as news broke that China Evergrande Group, the second largest property developer in the world’s most populous nation, has taken a step back from falling off a potential debt cliff today. Fast facts While the overall cryptocurrency market is still down for the week, all […]
Crypto platform Cobo raises $40M to expand one-stop DeFi shop for institutions
Cobo, a Singapore-based crypto custody and asset management platform, today announced the completion of its US$40 million Series B fundraise to accelerate the rollout of its decentralized finance (DeFi) as a service (DaaS) product. Fast facts In an interview, Cobo Chief Operating Officer Lily Zhuo told Forkast.News that Cobo’s DeFi as a service (DaaS) product, […]
Why decentralization can help solve the content moderation problem | Ep. 3
Why is content moderation a cosmically huge problem, do humans need to be involved and how can the decentralized web ensure it’s a place for everyone.
Crypto markets plunge as roof falls in on Evergrande
Top blockchain and crypto news: Evergrande end-game roils crypto markets. SEC takes aim at stablecoins. How close is China’s digital yuan to the finish line?
What is Audius and could it be the next Spotify?
Audius is enjoying outsized buzz. Should Spotify be scared? In this Forkast.News explainer, learn how this blockchain startup could threaten music industry money — and power.
Over 90% of the world’s poor are not insured, but blockchain could soon change that
Blockchain and parametric insurance offer a bigger safety net for the world’s most vulnerable, writes Jan Stockhausen of Etherisc. Here’s how it works.
Evergrande debt woes hit crypto; Mooncakes in the metaverse
Evergrande debt woes hit crypto meanwhile Mooncakes are in the metaverse
Chinese rig maker Canaan to buy back shares up to $20M to bring up valuation
Chinese crypto mining rig maker Canaan Inc. announced Monday that its board of directors has authorized a share repurchase program, in a signal of confidence in crypto mining’s future and a belief that its own stock is undervalued. Fast facts Nasdaq-listed Canaan said it may repurchase up to US$20 million worth of its outstanding American […]
Bitcoin miners expected to face tougher digging but demand continues growing
As total hashrate recovers, adjustment would follow four increases after as many declines since China intensified crypto mining clampdown.
How crypto enthusiasts in Asia are celebrating the Mid-Autumn Festival this year
From crypto-embossed mooncakes to mooncake NFTs to gatherings in the metaverse, how Asia’s crypto fans are celebrating the Mid-Autumn Festival.
Banks blocking transactions? No problem. Indians find ways to continue trading crypto
As major banks distance themselves from crypto business, alternative trading methods like peer-to-peer transfers are gaining popularity among investors
Evergrande’s uncertainty rocks crypto market
Crypto investors and industry watchers are following closely the potential collapse of Chinese property giant Evergrande.
Crypto exchange Coinbase nixes plan for lending product after SEC lawsuit threat
Coinbase, the largest cryptocurrency exchange in the United States, has dropped its plans to launch its high-yield-generating “Lend” product following the U.S. Securities and Exchange Commission’s threat to sue the exchange if they did. Fast facts Coinbase Chief Legal Officer Paul Grewal disclosed in a blog post earlier this month that the company had received […]
Bitcoin mining rigs generate as much e-waste as the Netherlands
The amount of electronic waste generated by the Bitcoin network is comparable to the amount of discarded electronic equipment in a small country like the Netherlands, a study published by the academic journal Resource, Conservation and Recycling states. Fast facts According to the paper, a Bitcoin mining machine can lose 35% of its profit potential […]
Conflux, Shanghai Maritime partner on offshore RMB stablecoin in free trade zone
A focus of China’s free trade and shipping, Shanghai will explore in pilot project cross border trading with offshore renminbi stablecoin.
Binance faces US probe for possible insider trading and market manipulation
Binance, the world’s largest cryptocurrency exchange by trading volume, is reportedly now under investigation for possible insider trading and market manipulation by the United States Commodity Futures Trading Commission (CFTC). Fast facts According to a Bloomberg report that cited unnamed sources, investigators from the CFTC — the agency that regulates the U.S. derivatives markets — […]
In crypto market, altcoins get a chance to shine
AVAX and SHIB outperform Bitcoin, which gained in price but shied from the $50K mark.
El Salvador’s Bitcoin adoption, one week on
It’s hot on Bitcoin Beach and the Twitterverse, but the new legal tender doesn’t have uptake elsewhere in the Central American country.
Crypto exchange Binance wants centralized headquarters amid regulatory heat
Under scrutiny around the world, the largest cryptocurrency exchange wants to do a better job engaging with regulators.
Institutional DeFi poised to become a $1 trillion industry, Blockdata says
Blockchain research firm sees explosive growth in smart contract-based products that can replace existing financial services.
Why Cardano’s Charles Hoskinson says DeFi is ‘up for grabs’
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?
How quadratic funding promotes projects for the common good
What is quadratic funding, and why is this mathematical method ideal for allocating capital for a community? Pranav Sharma of Woodstock Fund explains.
Canaan reports record revenues; Korea says no to crypto tax delay
Canaan reports record revenues meanwhile Korea says no to crypto tax delay
NFT charity auction to benefit low-income families in Singapore
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., […]
China’s blockchain infrastructure project goes live in Hong Kong, Macau
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.
Insider trading scandal rocks world’s biggest NFT platform OpenSea
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 […]
Litecoin unloved at Walmart. Cardano’s Alonzo upgrade. China takes aim at NFTs.
Top blockchain and crypto news: Walmart dispels Litecoin hoax. Cardano’s real work begins. Beijing bears down on NFTs.
Bank of China, DBS and HSBC partner with GSBN on digitizing trade finance
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 […]
Walmart, FTX and Animoca Brands hit by crypto misinformation
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.
CrossTower says it wants to collaborate, not compete, with Indian exchanges
CrossTower became the second international crypto exchange to enter the Indian market last week after Binance made its entry by acquiring WazirX in 2019.
China state mouthpiece criticizes NFT mania
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 […]
Miss Universe Thailand, NFTs join in world first
The Miss Universe Thailand 2021 pageant has partnered with Bangkok-based crypto exchange Bitkub to feature non-fungible tokens (NFTs) as part of the competition, Bitkub announced. Bitkub claims the event will mark the first NFT beauty pageant. Fast facts Bitkub will mint NFT collectible cards of the pageant contestants. The company also will provide participants with […]
Altcoins have their day in the sun as market pulls back
A few altcoins managed to stand out coming into the working week as Solana’s tear comes to an end.
What are smart contracts and what are they used for?
In this Forkast.News explainer, learn why blockchains with smart contract capability are surging in popularity and the new darlings of investors.
China’s central bank reports progress, challenges on e-CNY adoption
PBOC still working out regulatory rules, acceptance environments and payment systems.
What crypto can learn from Apple’s smooth interface to computing
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.
Searching for Asia’s ‘hidden treasures’ in NFTs and GameFi
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 set for Alonzo launch, smart contracts and NFTs to come
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?
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.
Global shipping network’s new blockchain platform for international trade goes live
Hong Kong-based Global Shipping Business Network (GSBN), a nonprofit consortium whose members handle one-third of all the shipping containers in the world, announced yesterday that its new blockchain platform for global trade has officially gone live. The platform, built in partnership with Oracle, Microsoft, AntChain and Alibaba Cloud, aims to accelerate digital transformation in the […]
C.R.E.A.M. Finance integrates 6 NFT tokens as part of DeFi bridge strategy
C.R.E.A.M. Finance, a Taipei-based decentralized finance (DeFi) lending platform, on Sept. 8 announced its support of six metaverse and non-fungible tokens (NFTs) that will allow users to borrow and lend against the assets. Fast facts NFTs, unique digital assets whose authenticity and ownership are tracked on a blockchain, have seen exponential growth over the past […]
Mark Cuban to Coinbase: ‘Go on the offensive’ against SEC over high-yield product
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 […]
SEC pushes back on Ripple’s legal questions over XRP
Ripple wants to know how SEC regards Bitcoin, Ether and XRP, but SEC says Ripple is repeating the same questions as ‘they do not like the answers they received.’
Former Hong Kong news site issues NFTs to preserve history
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.
El Salvador wowed the world by adopting Bitcoin as legal tender. Other countries are taking note
Following crypto’s adoption in one struggling economy, nations in Latin America and elsewhere are now weighing the pros and cons of digital currency
Riding the NFT trend: questions to consider before investing in these hot digital assets
As non-fungible tokens break into the mainstream, experts advise buyers to do research and watch for a correction.
What decentralization means for internet censorship | Ep. 2
What was internet censorship like in the early days, how has it changed, and what role does decentralization play.
Binance Smart Chain one year on — from DeFi to NFTs and gaming
Have DeFi exploits on BSC hindered the blockchain’s success? NFTs and gaming offer a boost.
El Salvador’s big Bitcoin bet. Kim Kardashian, crypto flirt. Hong Kong’s crackdown warning.
Top blockchain and cryptocurrency news: El Salvador’s BTC experiment. EthereumMax and the power of celebrity. Hong Kong shores up regulatory oversight.
Markets shed 10-15%; experts say not to worry
Despite significant losses across the board, industry experts are not too concerned, seeing the plunge as normal market behavior.
SEC threatens to sue Coinbase over high-yield savings account
Crypto platform CEO claims regulators use ‘intimidation tactics behind closed doors’ by refusing to provide clarity.
What are public, private and permissioned blockchains?
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.
El Salvador today becomes first country to adopt Bitcoin as legal tender
The Central American nation opens up the next chapter in the history of the world’s biggest cryptocurrency.