Every morning at Upbit, the nation’s largest cryptocurrency exchange, a brief and odd surge in random altcoin prices takes place. Which crypto will it be tomorrow?
The Industrial Bank of Korea (IBK) plans to launch on social media platform Cyworld Z’s metaverse. Other major banks in South Korea such as KB Kookmin, NH Nonghyup and Hana Bank plan moves toward the metaverse as well. Fast facts IBK announced yesterday its memorandum of understanding (MOU) with Cyworld Z. Cyworld Z is a […]
Alibaba’s blockchain branch Antchain has set a time threshold for transferring “digital collectibles” — non-fungible tokens, or NFTs — to prevent what it calls “malicious hype” amid Beijing’s unsupportive attitude towards NFT trading. Fast facts “Digital collectibles” refers to NFTs. Tech giants in China began referring to NFTs as “digital collectibles” amid Chinese state media’s […]
Bank of Korea’s (BOK) deputy governor Bae Joon-suk says its central bank digital currency (CBDC) development is “not one step behind that of any other country.” However, South Korea still has no plan to adopt a state-backed digital currency. Fast facts Bae spoke at Bank of Korea’s online conference on payment and settlement systems yesterday, […]
Bitcoin continued its downtrend today to reach a low of $55,861, its lowest price this month. The world’s first cryptocurrency has dropped by 18.6% since reaching a fresh all-time high of over US$69,000 last week. Bitcoin’s price low comes amid struggles in the overall crypto market, which has lost over US$400 billion from its total […]
Joining the slew of cryptocurrency exchanges that have completed investment rounds in recent months, New York-based cryptocurrency exchange Gemini this week announced the close of a US$400 million funding round led by Morgan Creek Digital, bringing the company’s valuation to US$7.1 billion. Fast facts Investors in the funding round — which was Gemini’s first-ever outside […]
The U.S. Internal Revenue Service — the department responsible for collecting tax revenue — seized US$3.5 billion worth of cryptocurrencies during fiscal year 2021, accounting for 93% all assets seized by tax enforcement that year, according to the agency’s 2021 Criminal Investigation Report released Thursday. Fast facts An agency official said on a call with […]
17,437 virtual strangers chipped in over $40 million to jointly buy a rare copy of the US Constitution. They lost their bid but now has everyone asking: What is a DAO?
As interest in the metaverse continues to gain pace, big names in entertainment including Snoop Dogg, deadmau5 and Shaun Neff have joined leading crypto VC firm Outlier Ventures to invest and advise start-ups to accelerate the Open Metaverse. Fast facts Since launching its Base Camp Accelerator in 2019, Outlier Ventures has helped raise over US$250 […]
Acala, a decentralized finance (DeFi) platform built for the Polkadot ecosystem, this week won the first slot in the Polkadot parachain auction with over 32 million DOT (approximately US$1.3 billion) — the native cryptocurrency of Polkadot — contributed by over 81,000 stakeholders. Fast facts The highly-anticipated first Polkadot parachain auction saw a close fight between […]
Blockchain-powered iVote.ph lets users ‘vote’ on NFTs depicting presidential candidates in the Philippines. Can the underlying technology be trusted?
Crypto mining rig manufacturer appears to be seeking chip-making capability in the midst of supply-chain shortages.
Taproot unlocks Bitcoin opportunities meanwhile Mintable aims big
While fears of a complete ban on virtual currencies have been dispelled, Indian investors are still in the lurch about what may or may not be allowed.
A few more Chinese cryptocurrency news sites are currently unavailable amid the country’s ongoing clampdown on the sector. Fast facts The website of ChainNews, one of China’s largest crypto news websites, was not available as of press time on Thursday. It tweeted on Nov. 15 that the site will be down for eight to 10 […]
Algorand (ALGO) — the native cryptocurrency of the Algorand blockchain — soared 50% from just under US$1.70 noon Asia time today to a new two-year high of US$2.66, according to CoinGecko data. But the surge was short-lived, with ALGO currently trading just under US$2 as of publishing time. Fast facts Algorand’s surge amidst the wider […]
Billions have been stolen through hacks from decentralized finance protocols, with Ethereum seeing the bulk of losses, according to a report by Elliptic.
Bit Digital, a Nasdaq-listed Bitcoin mining company headquartered in New York that had significant operations in China, said in its latest Q3 update that the exit of its mining fleet from China is now complete, with all of its miners having arrived in North America. Fast facts Bit Digital said it started the migration back in […]
Movie director Quentin Tarantino is being sued by Hollywood studio Miramax over his recent plan to auction off a series of non-fungible tokens (NFTs) based on his 1994 film “Pulp Fiction.” Miramax alleges that Tarantino’s planned offerings violate the copyright it holds to the director’s film, including the rights to the property he intends to […]
Singapore-based cryptocurrency trading platform Coinhako has received in-principle approval from the Monetary Authority of Singapore for a digital payment token (DPT) service license — making it the first local native cryptocurrency exchange to announce that it is close to being granted the much-coveted license. Fast facts Coinhako is now working through the conditions of its […]
How to sift through millions of NFTs before buying? NFT marketplace Mintable is hoping to attract more users with these new organizing and ranking features.
Bitcoin’s scarcity premium puts crypto into direct competition with gold and treasuries.
Following news of a strategic alliance with Big Four accounting firm Deloitte, AVAX rose above US$106, up 90% for the month.
Seasoned investors are no strangers to the sometimes sudden and extreme ups and downs of the crypto market. Some cryptocurrency prices have been known to fluctuate 20% to 30% within a single trading day. What causes these wild price swings? What you will learn from watching this Forkast.News video: What drives cryptocurrency price movements? How […]
Ethereum blockchain software company ConsenSys today announced the completion of a US$200 million funding round, bringing the company’s valuation to US$3.2 billion as it seeks to spearhead the growth of Web 3.0. Fast facts ConsenSys’ announcement comes as the number of monthly active users of its MetaMask non-custodial wallet product exceeded 21 million — a 38-fold increase from […]
Central banks around the world are exploring digital currencies, writes Aymeric Salley of StraitsX. Here’s why Southeast Asia may be especially ripe for them.
South Korea a metaverse hub, also NFTs go from digital to physical
A ticket to the metaverse is highly coveted in South Korea, whether it’s by an individual, a public company or a city government.
China’s mining exodus has flowed to the cowboy state that embraces crypto, but it might have to take into consideration the surging power loads.
China may be banning crypto mining activities, but rig makers appear to be spared from the clampdown.
Indian investors will now get exposure to global companies in the blockchain ecosystem as the Securities and Exchange Board of India greenlighted the Invesco CoinShares Global Blockchain ETF Fund of Fund (FoF). Fast facts The feeder fund will invest in the Invesco CoinShares Global Blockchain UCITS exchange-traded fund (ETF), formerly known as Invesco Elwood Global […]
First it was crypto derivatives FTX jumping into the game in Miami. Now Singapore-based Crypto.com has stepped it up a notch by dropping more than US$700 million to rename the iconic Staples Center in Los Angeles to Crypto.com Arena for 20 years, according to the Los Angeles Times. Fast facts This figure makes it one […]
NetEase, a Chinese video gaming company, said on a Q3 earnings call the company “will be one of the fastest runners in the metaverse space.” Fast facts Margaret Shi, investor relations director at NetEase, said the company has been “technologically ready” for the metaverse and knows how to accumulate metaverse-related technology. With gaming making up […]
Investment firm VanEck’s Bitcoin futures exchange-traded fund (XBTF) closed Tuesday 1.94% down in price to US$59.73 for its initial day of trading on the Chicago-based CBOE global exchange, according to MarketWatch’s data. Fast facts On Nov. 15, VanEck announced the launch of XBTF as the “lowest-cost Bitcoin-linked ETF” compared to its competitive rivals. The company […]
In a speech, Ethereum creator Vitalik Buterin notes the rise in cities experimenting with crypto, DAO and NFTs. What are the possibilities of blockchain cities?
The projects topped 300 rivals in their potential to improve the future digital Singapore dollar in payment services and financial inclusion. Who were the other winners?
In an eventful Monday, Bitcoin mining company Marathon Digital’s stock price fell on news it is being investigated by the SEC even as it raised millions in debt.
As global markets continue to watch the Evergrande debt crisis nervously, Chinese bank branch agrees to U.S. risk management measures.
Scams like the Squid Game Token rug pull are every investor’s nightmare. How to avoid hoaxes and not feel like a fool? Forkast.News explains.
Ethereum Layer 2 solutions — protocols built on top of the Ethereum blockchain that handle transactions off the Ethereum mainnet — have been on the rise as developers work on improving Ethereum’s scalability as its number of users and applications continue to grow. Polygon, a Layer 2 Ethereum scaling platform, today announced the launch of […]
The MOBIX marketplace, built on the Fetch.ai blockchain, will enable e-scooter and bicycle users to earn MOBIX reward miles that can be converted to MOBIX tokens.
Global Blockchain Business Council (GBBC), an industry association, has released its Global Standards Mapping Initiative 2.0 to provide a holistic view of the industry’s global activity. Fast facts The initiative maps out the global digital asset landscape in terms of legislation, technical standards, industry standards and recommendations, university sources, as well as industry consortia. Specifically, […]
South Korean financial companies bring investors results a month after their metaverse exchange-traded funds were listed, with one fund gathering nearly $170M in net asset value.
While a significant legislative achievement for U.S. President Joe Biden, the US$1 trillion bipartisan infrastructure bill signed into law on Monday included provisions relating to cryptocurrency tax reporting requirements that has many in the industry nervous. Fast facts As Forkast.News previously reported, provisions were added to the bill as it was being drafted in August […]
China has yet again reiterated its determination to crack down on the cryptocurrency mining sector and revealed today that authorities will focus on state-owned entities engaging in virtual currency mining. Fast facts Wei Meng, a spokesperson of the National Development and Reform Commission (NDRC), the country’s top economic planner, said at a press briefing today […]
As Circle expands into Asia as part of a global expansion plan, what does the investment in a yen-back stablecoin mean for the market?
Chinese police have busted yet another tele-fraud case related to e-CNY money laundering as the country continues to test the digital currency.
While the government has yet to figure out the details, a crypto regulatory regime is expected to be released before February.
The maker of the catchy children’s song and dance video of Pinkfong Baby Shark is launching NFTs (non-fungible tokens) of its globally beloved characters with upgraded design and music. Fast facts SmartStudy, a South Korean educational entertainment company and the creator of the Pinkfong Baby Shark, announced a partnership with MakersPlace, a digital art marketplace. […]
LuLu Exchange, a financial services company in the United Arab Emirates (UAE), and Pakistan’s Bank Alfalah are partnering to bring faster and more cost-effective cross-border payments and remittances from the UAE to Pakistan using RippleNet. Fast facts Bank Alfalah’s integration with RippleNet — Ripple’s global payments network for financial institutions — and its launch with […]
After shooting to prominence earlier in the year and bringing huge profits to early adopters, earnings for players of blockchain-based game Axie Infinity have dropped below the minimum wage line for most players in the Philippines, according to a recent report by research firm Naavik. Fast facts Using data sourced from the official website of […]
Cryptocurrency prices dropped again this morning Asia time, with Bitcoin and Ethereum trading 7% and 8% lower respectively in 24-hour trading, according to CoinGecko data. In the meanwhile, a new CoinShares report on institutional investing in cryptocurrency found record inflows year-to-date, suggesting that big investors overall are still bullish on crypto. Fast facts Bitcoin — the […]
A crypto investor in Hong Kong was rescued six days after being kidnapped earlier this month when he tried to meet a buyer offline who promised to purchase his Tether tokens.
The creator of the Mirror protocol and its CEO Do Kwon have little recourse but to comply with the SEC subpoena to produce documents and testify.
What are the different kinds of cryptocurrency wallets, and which should you choose? Watch this 3-minute Forkast.News video explainer to find out what’s right for you.
While Ethereum leads the market in smart contracts, Bitcoin’s Taproot upgrade could help the world’s oldest blockchain emerge as a future contender. Here’s why.
A recent survey in South Korea revealed a majority of its wealthier investors are not willing to make investments in virtual assets, due to concerns over experiencing losses. Fast facts KB Financial Group’s Korea Wealth Report 2021 surveyed 400 South Korean citizens with over 1 billion Korean won, or about US$847,816 in financial assets. Out […]
As crypto projects are relocating from China to friendlier shores, it represents ‘huge opportunity’ for Taiwan.
As central bank digital currencies begin picking up steam around the world, the Central Bank of Nigeria announced on Friday the digital wallet for its own digital currency, the eNaira, has been downloaded 488,000 times in 160 countries — in just 19 days after its launch. Fast facts According to local news reports, after President […]
Animoca Brands, a Hong Kong-based blockchain gaming unicorn, announced today that it has teamed up with Cube Entertainment, a major K-pop entertainment agency, to form a joint venture dedicated to building a music metaverse and issuing non-fungible tokens (NFTs), joining a slew of K-pop labels to make forays into the NFT and metaverse space. Fast […]
A former Chinese official has been expelled from the Communist Party of China for “serious violations of discipline and law” as he was found to introduce and support cryptocurrency mining activities, in what may be the first time for China’s anti-graft watchdog to expel an official over crypto mining. Fast facts The country’s anti-corruption watchdog […]
The Algorand Foundation, a Singapore-based blockchain organization supporting the development of the Algorand ecosystem, has partnered with the Blockchain Association Singapore to drive the development of blockchain technology in Singapore and the wider Southeast Asia region. Fast facts In a memorandum of understanding signed on Nov. 12, the ecosystem partnership will see the Algorand Foundation […]
In another sign of increasing adoption of blockchain technology in the gaming industry, Forte — a leading provider of blockchain solutions for game publishers — has secured US$725 million in a Series B fundraising round, the firm announced. Fast facts Led by Sea Capital and Kora Management, this follows from the US$185 million it raised […]
First Digital Trust, a Hong Kong-regulated trust and custodian specializing in digital assets, has become the first official custodian of IX Swap, a security token and cryptocurrency exchange, according to a company announcement today. Fast facts IX Swap is a decentralized finance (DeFi) automated market maker and liquidity pool for security tokens and tokenized stocks. […]
Russia to legalize crypto mining; Korean candidate goes all out crypto