South Korea-based Naver Z Corporation — the operator of metaverse platform Zepeto — raised 223.5 billion Korean won, or about US$189 million in a Series B round, which included investments from SoftBank, Mirae Asset and three of K-pop’s largest talent agencies. Fast facts Japan’s SoftBank led the funding round by investing about US$148 million in Naver […]
Is CoinDCX — India’s first crypto company to achieve unicorn status, or US$1 billion in valuation — going public? CoinDCX co-founder Neeraj Khandelwal set off a frenzy of excitement when he told Bloomberg in a recent interview that CoinDCX may pursue an initial public offering as soon as legislation permits. But a CoinDCX spokesperson told […]
Now that South Korea’s crypto tax is delayed a year, what will the final form look like? Should crypto gains be taxed like stock profits — or winning the lottery?
Hong Kong Stock Exchange-listed Huobi Technology Holdings today announced that it will be launching Huobi Lending, a cryptocurrency lending service for institutions and high net worth individuals (HNWI) through its new digital asset brokerage platform Huobi Brokerage, according to a company announcement. Fast facts Alongside growing institutional interest in digital assets, crypto lending services leveraging […]
Hong Kong-based ViLab Limited, a metaverse developer, announced today that it has signed a memorandum of understanding (MOU) with Gulliver Studios, the effects creator behind the Netflix hit series Squid Game, to develop technology that can be used for creating virtual identities and other features for the metaverse. Fast facts ViLab and Gulliver Studios will […]
KB Kookmin Bank, one of South Korea’s largest financial institutions, announced yesterday that it has developed the KB Metaverse VR Branch Testbed for experimenting with allowing customers wearing a head-mounted VR device to access banking services in a metaverse. Fast facts Simple transactions, such as remittances, can be managed at a teller window, while an […]
The metaverse is a convergence of the physical and digital worlds, writes Gloria Wu of Ontology. How can the metaverse escape Web 2.0’s failings?
While the wait for a U.S. Bitcoin spot exchange-traded fund continues, Invesco, a U.S. investment firm with US$1.6 trillion in assets under management, has partnered with CoinShares to launch a European exchange-traded product physically backed by Bitcoin, according to reporting on Nasdaq.com. Fast facts The Invesco Physical Bitcoin ETP will be listed on Deutsche Börse […]
The Federal Reserve Bank of New York has joined hands with the Bank for International Settlements (BIS) to launch an innovation hub in New York— dubbed the New York Innovation Center (NYIC) — to explore and build financial technology products for the central bank community. Fast facts The NYIC will focus on five areas — […]
Bitcoin (BTC) and Ethereum’s Ether (ETH) prices on Tuesday morning Asia time held their rebound from the Black Friday sell-off of global equities and cryptocurrencies following news of the new Covid-19 Omicron variant. Bitcoin was trading at US$57,184 and Ethereum at US$4,445, as of publishing time, according to CoinGecko data. Fast facts Institutional investors appear […]
As the pushback over environmental concerns of the blockchain industry continues, a recent report by Solana says that a single transaction on the network uses less energy than just two Google searches. Fast facts Completed under the guidance of an independent energy and climate advisor, Solana’s November Energy Report found that a single Solana transaction […]
Omicron hits markets meanwhile Japanese novel released as NFT
In Nigeria, the eNaira — the country’s newly launched central bank digital currency (CBDC) — has already seen nearly 600,000 downloads, according to local media Nairametrics citing the Central Bank of Nigeria (CBN). Fast facts The local media reported Saturday that the CBN governor has revealed the country’s total digital transactions rose by more than […]
In the long run, the new rules may ‘lay the perfect foundation’ to improve risk management, says an ICBC expert.
A new amendment to South Korea’s income tax law, which includes delaying the taxation on crypto gains by one year, was agreed upon by South Korean political parties at the National Assembly today. Fast facts The ruling Democratic Party and the opposing conservative People Power Party officially made a resolution at the National Assembly Strategy […]
The director of China’s central bank’s anti-money laundering office said the People’s Bank of China will establish a tracking system for the virtual assets, such as cryptocurrencies and NFTs, for cracking down on virtual-related crimes, adopting technologies such as artificial intelligence and machine learning, mainland China local media reported. Fast facts Gou Wenjun said at […]
SK Square, a new investment firm under one of South Korea’s largest conglomerates, SK Group, chose cryptocurrency exchange Korbit as one of its first investments. The two companies aim to upgrade the trading platform’s environment in order to deliver more accurate and trustworthy investment information to users, and plan future businesses in the metaverse and […]
Singapore-based crypto exchange Coinstore has entered the Indian market despite the regulatory wrangle that points toward an impending ban on all private cryptocurrencies, the company announced today. Fast facts Coinstore has launched its website and mobile application for Indian users and plans to set up offices in Bangalore, Delhi, and Mumbai that will support its […]
To mark the release of the third installment in the latest Spider-Man trilogy, theater giant AMC and Sony Pictures are offering 86,000 non-fungible tokens for fans who pre-order tickets to the film, which opens on Dec. 16, AMC CEO Adam Aron announced via Twitter. Fast facts Amid rising concerns of the environmental impact of NFTs […]
Chinese companies are rushing to the fore to develop their metaverse ideas, though state media have recently warned about the associated risks the emerging technology could bring. Fast facts An opinion piece published yesterday by state-owned Economic Daily said the hotter the metaverse gets, the more the public should stay calm. The author wrote that […]
The impact was relatively short-lived, and many major tokens had already retraced most of their positions from Friday coming in Asia business hours.
Miyuki Ono’s science fiction story “Pure” is being released as NFT (non-fungible token) copies to create a new channel of income for writers and translators who are currently insufficiently compensated for their work. Fast facts “Pure” is one of world’s first Japanese science fiction works released as an NFT, while also being the first NFT […]
South Korea reaches a tentative agreement to delay a pending tax on virtual assets. Crypto investors in next-door Japan already face taxation up to 55%.
Metaverse picks up momentum, on the other hand Binance tweet gets yellow card
SafeMoon, known for high fees and social media hype, is now 85% below its all-time high. What lies in SafeMoon’s future?
Andrés Iniesta, former FC Barcelona veteran and current midfielder for Japan’s Vissel Kobe, promoted crypto exchange Binance via Twitter, which prompted a securities market regulator to write a cautionary reply tweet against crypto. Fast facts Iniesta wrote on Twitter Wednesday, saying: “I’m learning how to get started with crypto with Binance,” also posting pictures of […]
The total amount of Ether — the token of the world’s second-largest cryptocurrency Ethereum — “burned” since the introduction of Ethereum Improvement Protocol (EIP) 1559 as part of the London hardfork has hit the 1 million ETH milestone, according to figures from blockchain data aggregation site WatchtheBurn. Fast facts With the total amount of ETH […]
As the NFT zeitgeist sweeps the world, the industry’s beating heart is in Asia, writes David Tng of TZ APAC. Here’s how Asia’s NFTs are changing business models.
The metaverse has been the hottest trend in tech this past month and tokens attached to metaverse projects are showing that growth with the Sandbox’s SAND and Decentraland’s MANA are both up over 600% in the past month to reach all-time highs of US$8.51 and US$5.90 yesterday, respectively, according to CoinMarketCap. Fast facts The Sandbox […]
Interest in cryptocurrency is being driven in part by ultra-low interest rates, Reserve Bank of Australia assistant governor Michele Bullock has said, while indicating the RBA is considering the creation of a central bank digital currency (CBDC) for use in wholesale markets, according to the Australian Financial Review. Fast facts Speaking at a Women in […]
Tether, issuer of the world’s most popular stablecoin USDT, has responded in multiple tweets saying it will work with policymakers, after the U.S. Senate Banking Committee earlier this week sent letters to several stablecoin issuers — including Tether — to inquire about their operational features. Fast facts In the tweets, Tether said it appreciates the interest from […]
A bill to delay a pending tax on virtual assets failed to pass the National Assembly’s standing committee at a meeting yesterday, while the topic remains a huge factor in the upcoming presidential election. Fast facts The South Korean National Assembly’s tax subcommittee under its Strategy and Finance Committee had discussed an amendment to the […]
Luxury fashion houses set trends that trickle down to the rest of culture. Here’s where brands like Prada and Burberry are headed on the blockchain curve.
The U.S. Senate Banking Committee has sent letters to several stablecoin issuers to inquire about their operational features. Fast facts In a Monday tweet, Ron Hammond, director of government relations at the Blockchain Association, said the stablecoin issuers include Coinbase, Gemini, Circle, Paxos, TrustToken, Centre, Binance U.S. and Tether. “This is likely a sign of […]
Xive co-founder tells Forkast.News no mining is possible in the south, while other regions still survive.
Gamevil, the South Korean mobile game software developer, has acquired blockchain technology company Zenaad with plans to grow as a platform for blockchain-based games. Fast facts Gamevil revealed yesterday that it has entered the final stage of constructing its blockchain ecosystem with the acquisition of Zenaad. The tech force at Zenaad has been internalized into […]
The Japan Digital Currency Forum has released a white paper examining the possibility of a new cryptocurrency backed by bank deposits. Fast facts The forum consists of over 70 companies, including the country’s top banks such as MUFG Bank, Sumitomo Mitsui Banking Corp., Mizuho Bank, Japan Post Bank, among others. Several government agencies also are […]
Cardano ADA and Tron TRX will no longer be available to eToro’s US customers next year while CRO reflects Crypto.com ‘going from strength to strength.’
One of Australia’s leading superannuation funds, Rest Super, indicated it is looking at investing in cryptocurrency — calling it a hedge against rising inflation — before stressing it is still only in the research phase of investing, according to a report in the Australian Financial Review. Fast facts Speaking at the fund’s annual general meeting […]
Arbitrum is leading the way in Ethereum scaling, according to a new report by Nansen, a blockchain analytics platform. What are the challenges that lie ahead?
Bitcoin and Ethereum prices fell nearly 24% in India as investors sought to get ahead of a possible crypto prohibition.
Hex Trust and Animoca Brands team up to tackle a key problem in gamefi.
Blockchain gaming company Animoca reacts to a US$1.1 million scam on a Discord server for its upcoming new game release.
India proposes crypto ban meanwhile Metaverse race heats up
Shenzhen’s special zone for cooperating with Hong Kong, Qianhai District, will allocate 10 million yuan (US$1.57 million) to motivate enterprises to develop e-CNY-compatible businesses, especially in cross-border e-CNY and fintech labs. Fast facts The Qianhai Administration introduces the policies in a document released on Monday called “Interim Measures for Managing Special Funds for Supporting Financial […]
Top blockchain and crypto news: Fed nominations suggest no sudden moves. El Salvador’s Bitcoin lava affair. Dodgy dealings in China’s digital yuan.
Regal, a subsidiary of Cineworld Group, has partnered with digital payments network Flexa to allow customers to pay for movie tickets, popcorn and more with cryptocurrencies in its theaters. Fast facts The firm will accept cryptocurrencies including Bitcoin, Ethereum, Litecoin and Dogecoin, stablecoins such as Dai, USD Coin and Gemini Dollar, as well as digital […]
Another day, another fight, on Twitter. Tesla CEO Elon Musk, who has supported Dogecoin, tagged Binance CEO Changpeng Zhao (CZ) and tweeted Tuesday that “what’s going on with your Doge customers? Sounds shady,” after a technical glitch appeared to occur during a recent upgrade of the Dogecoin network. Fast facts A network upgrade of Dogecoin […]
Dunamu, the operator of South Korean crypto exchange Upbit, launched a beta service of “Upbit NFT,” an NFT (non-fungible token) trading platform, while another K-pop agency, FNC Entertainment, plans to launch its first NFT collection. Fast facts Upbit NFT consists of two sections, Drops and Marketplace. Drops is where NFTs will be put up for […]
South Korea’s Financial Services Commission (FSC) compiled a set of proposals for a new crypto law including criminal punishment to unfair actors in the market. The compiled report has been submitted to the national assembly for review. Fast facts Yesterday, the FSC submitted a basic outline for the national assembly’s consideration in constructing the new […]
As social media’s influence on broader society continues to grow, decentralized platforms will mean less central moderation — for better or worse.
The decentralized autonomous organization (DAO) that formed to buy a rare copy of the U.S. Constitution will soon be shutting down after failing to win an auction for the document last week, despite raising over US$40 million in ETH to do so, as the Verge reports. Fast facts As Forkast.News reported last week, 17,437 members […]
The Australian Securities and Investments Commission (ASIC) has accused the owners of Gold Coast-based business A One Multi of scamming 92 investors out of AU$25 million (US$18 million) and are now in possession of a cold wallet believed to hold almost US$20 million in Bitcoin purchased with the defrauded funds, according to a report by […]
Two more regional equity exchanges in the Chinese cities of Tianjin and Qingdao have been approved by the China Securities Regulatory Commission this week to pilot blockchain applications over equity trading. Fast facts The regional equity exchanges are private equity markets in provincial or municipal administrative regions for medium to micro enterprises to trade equity. […]
The Pacific island nation of Palau has partnered with San Francisco-based blockchain payments company Ripple on a U.S. dollar-backed digital currency for the country — the world’s first government-based national stablecoin — using the XRP Ledger, according to a Ripple announcement. Fast facts Ripple will provide Palau with technical, business, design and policy support for […]
Three U.S. agencies released a joint statement outlining a plan to fast-track crypto-asset regulation in 2022.
The digital print of the U.S. Constitution grew an estimated 35% in value by the time Ken Griffin made the winning bid, surely ushering in more NFT interest.
BloXmove will use the Ontology blockchain to allow people to have one decentralized, secure identifier to share across multiple transportation apps.
Neon, an Ethereum virtual machine on the Solana blockchain, today announced that it is integrating Aleph.im, a cross-blockchain computing network and decentralized indexing provider, for on-chain data on Solana — a first step towards bringing cross-chain decentralized finance (DeFi) between Ethereum and Solana. Fast facts Ethereum is currently the dominant blockchain for general-use smart contracts, […]
Another e-CNY scam busted, meanwhile SCMP to tokenize history
The 118-year-old Hong Kong newspaper South China Morning Post released a white paper today on its non-fungible-token (NFT) project called ARTIFACT, as well as announcing the launch of the first series of collections of historical events called ARTIFACTs by SCMP. Fast facts ARTIFACT is a project that the SCMP designed to tokenize their reports of […]
Algorand ‘re-imagines’ blockchain by trying to solve key weaknesses of Bitcoin. Learn about this wannabe Ethereum killer in this Forkast.News explainer.
OliveX, a digital health and fitness company listed on the national stock exchange of Australia (NSX), today announced it will be raising AUD$8 million (US$5.8 million) via a share placement with investors including Hong Kong-based blockchain gaming company Animoca Brands, One Football, a digital media platform for football, and Bombora Investment, as it builds out a […]
Dunamu — the owner of Upbit, South Korea’s largest cryptocurrency exchange — became a shareholder of Woori Bank, one of the largest banks in South Korea. Fast facts Dunamu purchased 1% of Woori Financial from Korea Deposit Insurance Corporation, which recently put 9.3% of its shares in Woori on auction. Another 4% went to Eugene […]
More provinces in China are taking serious actions to crack down on crypto mining following the all-out ban announced on Sept. 24 by the country’s top authorities. Fast facts Southeast China’s Fujian provincial development and reform commission on Friday held a video conference meeting with local authorities to clarify their responsibilities and pledged to “clear […]
Inner Mongolia police bust yet another digital yuan money laundering case.