Australian consumer protection body issues warning to crypto investors
The Securities and Investments Commission warned against investing in digital-asset financial products. Some say the warning lacks specifics.
Bollywood megastar Amitabh Bachchan is launching his own NFT collection
Prominent Indian actor Amitabh Bachchan will release his own non-fungible token collection later this year. Fast facts The NFTs will be rolled out on BeyondLife.club, a joint venture between Indian film production company Rhiti Entertainment and Guardian Link, a decentralized legitimacy protocol for NFT exchanges. BeyondLife.club allows users to buy NFTs with credit cards or […]
El Salvador creates $150M fund to assist with BTC adoption
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 […]
Dogecoin spawns more pups with Doge NFT split into tokens for resale
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 […]
Singapore grants FOMO Pay the city-state’s first crypto license
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 […]
China’s state-backed blockchain network to expand to South Korea
As its first international expansion, China’s Blockchain-based Service Network is launching a portal in Korea. Who are the key players, and where else in the world will BSN emerge this year?
How blockchain technology is shaking up courtrooms in Asia
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 acquires LedgerX to expand into US crypto derivatives market
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 surpasses 10M monthly active users; Philippines, U.S. top users
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; HK SFC issues crypto warning
The9 launches NFT platform meanwhile HK SFC issues crypto warning
Some NFT creators and investors have a lucky number
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.
SEC wants to watch videos of Ripple’s company meetings
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?
Philippines may classify Axie Infinity as a company running a payment system
The hot play-to-earn token game Axie Infinity is under increased scrutiny from Philippines tax authorities. The country’s central bank said it is closely monitoring how players use game tokens to decide whether to classify and regulate Axie’s parent company as an entity that runs payment systems. Fast facts The central bank, Bangko Sentral ng Pilipinas, […]
C.R.E.A.M. Finance suffers $28M flash loan hack
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 […]
South Korea’s crypto exchanges join forces for FATF travel rule compliance
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 […]
Crypto exchange Zipmex raises $41M in Series B round for aggressive Asia expansion
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, […]
Why Facebook’s Novi wallet could strike gold in SE Asia
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 partners with Bitt Inc. to launch its own cryptocurrency, the eNaira
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 […]
Crypto is going mainstream—and the likes of Paypal and Snoop Dogg are leading the way
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.
Chinese gaming company The9 expands into NFT business
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 […]
Ethereum, Cardano, Solana lead institutional crypto inflows: CoinShares
Cryptocurrency investment products saw a second consecutive week of inflows of US$24 million last week, despite the eighth consecutive week of outflows from Bitcoin of US$3.8 million, according to CoinShares, Europe’s largest digital assets fund manager. Fast facts Total digital assets under management (AUM) across all digital asset fund providers last week stood at US$56.86 […]
Billionaire investor John Paulson calls crypto “worthless bubble,” backs gold
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 regulator warns investors against digital tokens and ICOs
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; Crypto exchange Bilaxy hacked
Korea’s love for crypto continues while Crypto exchange Bilaxy hacked
Mutant Ape NFTs collect $140 million on OpenSea market
Bored Ape Yacht Club (BAYC) — one of the hottest non-fungible token projects at the moment — released its Mutant Ape Yacht Club (MAYC) NFTs over the weekend through a free airdrop to existing Bored Ape holders as well as a public auction of 10,000 Mutant Apes. The price for Mutant Apes started at three […]
More teens in South Korea buy crypto despite strict pending regulations
New data shows increasing deposits made by teens in virtual currency despite new rules that may close down many platforms in less than a month.
Hong Kong-based crypto exchange Bilaxy hacked; over $21M loss
The 20th hijack this month, after Poly Network, Solend and Liquid.
Solana crosses $100 price level
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 […]
Three state-owned banks in China release e-CNY usage data
Tens of billions in digital yuan circulate through the banks’ systems, as leaders encourage wider adoption.
Ethereum network splits into two; update is urged
A network patch designed to fix a bug on the Geth network has led to the world’s second-largest blockchain splitting in two.
Square’s Jack Dorsey to build decentralized Bitcoin exchange
Jack Dorsey, CEO of tech giants Square and Twitter, announced on Friday that Square’s new decentralized finance division, TBD, plans to build a decentralized Bitcoin exchange. Fast facts “We’ve determined TBD’s direction: help us build an open platform to create a decentralized exchange for Bitcoin,” he tweeted. Project lead for TBD Mike Brock also tweeted […]
Singapore central bank announces 15 finalists for Global CBDC Challenge
The Monetary Authority of Singapore (MAS) today announced 15 finalists for its “Global CBDC Challenge” — a competition to develop retail Central Bank Digital Currency (CBDC) solutions to improve payment services and promote financial inclusion. Fast facts According to MAS, the Global CBDC Challenge attracted over 300 submissions from more than 50 countries, with over […]
Why some big investors are diving into DeFi but others are holding back
Decentralized finance (DeFi) is attracting a lot of attention from traditional banks and venture capital, but many institutions remain firmly on the sidelines. Forkast.News explores why.
Korea’s new FSC chair speaks; Axie Infinity to work with governments
Korea’s new FSC chair speaks meanwhile Axie Infinity to work with governments
S. Korea crypto exchanges told no grace period for do-or-die reporting deadline
A looming deadline for crypto exchanges in South Korea to either meet new compliance requirements or face closure will not be extended, the country’s newly nominated chief financial regulator says. The rules are designed to improve investor protection and transparency in crypto transactions, but many exchanges have been calling for a longer grace period. Fast […]
How Bitcoin and Ethereum are rekindling with equities
What is the relationship between crypto assets and stock prices? An analysis week’s market trends.
Axie Infinity tweet suggests willingness to work with Philippines on tax demand
Axie Infinity, one of the world’s most popular non-fungible token (NFT) games, tweeted that it is “looking forward to working with physical nations” and called for its digital users to abide by the laws of their home countries, presumably a reference to local tax laws. Fast facts The tweet came just days after the Philippines government stated […]
Solana price hits all-time high as Bitcoin, crypto market dip
Bitcoin’s price dropped following a quick ascent past US$50K, but analysts say the rally is set to continue. Meanwhile, Solana again defied the overall market to post a new price high.
Crypto mining rig giant Bitmain confirms TSMC chip price jump
China-based Bitmain, one of the world’s biggest producers of cryptocurrency mining rigs, confirmed in a social media post a 20% price hike in the chips it buys from Taiwan Semiconductor Manufacturing Company (TSMC). Fast facts Bitmain said on Thursday in a WeChat post that TSMC had informed all clients, including the mining rig maker, that […]
How a Hong Kong newspaper is remaking history with NFTs
The South China Morning Post, Hong Kong’s paper of record for 118 years, is experimenting with NFTs and metaverse technology to bring its storied past into the future.
Former India central bank chief says cryptocurrencies have a ‘potential future’
While India’s parliament considers a potential nationwide ban on all private virtual currencies, a former governor of India’s central bank says some cryptocurrencies have a “potential future” in the global economy. Raghuram Rajan, ex-governor of India’s central bank and former chief economist at the International Monetary Fund, made his comments at a Reuters Global Markets […]
AAX to launch its own NFT marketplace, following other crypto exchanges
Amid the immense growth in the non-fungible token market, leading Singapore-based crypto exchange AAX is planning to launch its own NFT marketplace in the “near future,” according to a press release shared with Forkast.News. Fast facts In preparation for the launch, AAX is running a campaign in which its users can auction NFTs for charity […]
How blockchain is transforming shipping and redefining global trade
Rising from the rubble of a Covid economy, shipping companies are now using blockchain technology to rebuild profitability and reduce inefficiencies.
Korea reveals crypto exchange ‘Death Note’: DeFi investment booms
Korea reveals crypto exchange ‘Death Note’: DeFi investment booms
Bitcoin mining difficulty increases 13.2%
Bitcoin miners saw another mining difficulty adjustment on Wednesday night, with an increase of 13.24%, according to data from BTC.com. Fast facts The mining difficulty level is now at 17.62 trillion at block height 697,536, reflecting a 13.24% increase from the last adjustment, the data showed. The latest adjustment follows two increases after four consecutive […]
Taiwan Semiconductor chip price increase on the way
Amid global supply shortage, the move could impact clients such as mining rig maker Bitmain, which sources TSMC’s wafers for its Antminer S19 series.
South Korea unveils “death note” for crypto exchanges
24 out of 63 digital currency exchanges in South Korea are not expected to meet new compliance requirements and will most likely be shut down in less than a month.
DeFi TVL hits all-time high, breaking past correlation with Ethereum price
While DeFi has historically moved with the Ethereum price, the latest all-time high in total value locked in can largely be attributed to new blockchains purpose-built for the sector and institutional interest.
Chinese tech company Meitu reports $17M loss on Bitcoin holdings in 1H 2021
Meitu, a Hong Kong-listed Chinese technology company best known for its popular beauty apps, saw an RMB111,907, 000 (US$17.3 million) impairment loss on its Bitcoin holdings in the first six months of 2021, the company reported in its latest financial results. Fast facts According to Meitu’s Aug. 25 HKEX filing: “the decrease in fair value […]
BIS, HKMA partner on Project Genesis to tokenize green bonds
The Bank for International Settlements (BIS) Innovation Hub Hong Kong Centre and the Hong Kong Monetary Authority (HKMA) are collaborating on Project Genesis — a green finance project for the tokenization of green bonds using blockchain technology, according to a BIS statement. Fast facts Project Genesis — the BIS Innovation Hub’s first green finance project […]
Cardano Foundation partners with Coinfirm for AML/CFT compliance
In the latest from the world’s third-largest cryptocurrency, which has gone from strength to strength this month, the Cardano Foundation is partnering with blockchain analytics provider Coinfirm.io to ensure the network complies with the Financial Action Task Force’s guidelines. Fast facts In a company announcement this week, the Cardano Foundation said it would be using […]
Hacked crypto exchange Liquid secures $120M loan from FTX
While the funds stolen in last week’s cyberattack on Liquid are yet to be returned, the Japanese exchange has secured a US$120 million loan from fellow exchange FTX to cover losses. Fast facts Sam Bankman-Fried, the billionaire CEO of Hong-Kong based FTX, took to Twitter to make the announcement, saying he had always admired Liquid’s […]
UK’s Financial Conduct Authority: Binance has complied with requirements
Binance Markets Limited, the British affiliate of the world’s largest cryptocurrency exchange, is now compliant with the requirements that the U.K.’s Financial Conduct Authority imposed on the company in June, the FCA said Wednesday. Fast facts The FCA had, back in June, issued a warning to Binance Markets Limited and the Binance Group and imposed […]
How regulators should consider the future of DeFi | Ep. 1
What is DeFi, why it’s poised to enable financial inclusion, and how the showdown between decentralized finance and regulators is taking shape.
HK football team launches NFTs; Food concept offers crypto mooncakes
HK football team launches NFTs; Food concept offers crypto mooncakes
Bitcoin bulls brace. CryptoPunks’ pulling power. China’s crypto lawfare.
Top blockchain and crypto news: Is another Bitcoin bull run coming soon? Punks rocking NFTs. Why crypto contracts may not be enforceable in China.
Dark web tool Antinalysis is back and openly available on the internet
The previous version of Antinalysis, which was based on the AMLBot API, was shut down but within a week it has respawned not just on the darknet but also on the clearnet.
Thai SEC proposes new rules for digital asset custodians
Thailand’s Securities and Exchange Commission (SEC) on Wednesday launched a public consultation on its proposed amendments to regulations for the custody of crypto holdings in digital asset businesses. Fast facts The additional regulations — which the SEC said are intended to enhance investor protection — include requiring digital asset businesses to comply with “the principles […]
Hong Kong’s Resources Capital Football Club kicks off NFT goals
The team joins a growing number of football clubs around the world launching non-fungible tokens (NFTs) as they look to engage fans and generate new revenue streams.
Celsius Network grows 1,900% this year, US$20B AUM
In another sign of decentralized finance’s continued growth, Celsius Network has just announced it now has more than US$20 billion in assets under management – making it one of the largest DeFi platforms in the world. Fast facts These figures came from Celsius’ most recent quarterly internal audit, according to a company press release, which […]
Crypto bank in South Korea says it aims to comply with strict but unclear new law
Sandbank, a South Korean bank for virtual assets, says it is in the process of acquiring the necessary certification needed to legally operate in the country. However, the financial authorities have yet to decide whether their requirements apply to crypto banks. Fast facts In an announcement, Sandbank told its customers it has put acquiring the […]
Dogecoin is going to the dogs, including real-world canines
Just as Dogecoin prices are once again going to the dogs, a Chicago animal shelter is asking for DOGE donations to help real-life dogs in the dumps. Fast facts PAWS Chicago has launched a “Dogenation” campaign, which allows animal lovers to donate to the charity in cryptocurrencies — not just Dogecoin — via QR codes […]
Vogue Singapore catwalks to a metaverse with NFT launch
The magazine unveils two digital-only covers as well as fashion, beauty and design NFTs, all for sale in a new metaverse.
Fetch.ai brings AI and machine learning to NFT creators
Fetch.ai, an artificial intelligence lab based in the British city of Cambridge, today announced the launch of its new non-fungible token (NFT) platform, Colearn Paint, that will allow creators to automatically generate NFTs using a machine learning algorithm. Fast facts Alongside the surge in NFT sales over the past year, NFT marketplaces have proliferated. According […]
Court in China says trading in cryptocurrency ‘not protected by law’
The ruling by Shandong’s High Court backs up China’s official stance against trading in cryptocurrencies. What does this mean for investors?
Professor jailed for crypto scam; Cryptopunks trading volume soars
Professor jailed for crypto scam while Cryptopunks trading volume soars
CryptoPunk NFTs smash records as VISA purchases a CryptoPunk for US$150K
CryptoPunks sales volume increased by over 1,100% in the last 24 hours
Why institutional investors cannot afford to ignore DeFi
Much of traditional finance still believes DeFi is too risky and not worth the bother, writes Ilia Maksimenka of PlasmaFinance. Are these perceptions accurate?
Bitcoin miners may soon face tougher digging
As the crypto hashrate continues to recover, miners will likely have to work harder for their coins.
Ripple: SEC ex-chief Hinman’s views on XRP are ‘dubious’
Ripple also challenges SEC’s use of ‘deliberative process privilege’ to prevent agency documents on Bitcoin, Ethereum and XRP from disclosure.
Poly Network hackers return remaining stolen assets
The Poly Network hacking saga has finally reached a happy ending with the crypto thieves releasing the last key to the remaining funds of 28,953 Ether and 1,032 Wrapped Bitcoin tokens, worth approximately US$141 million, on Monday. According to Poly Network, the company is in the process of returning full asset control to users, although […]
Iran expected to lift Bitcoin mining ban next month
Iran, which imposed a temporary ban on Bitcoin mining a few months ago, is expected to lift the prohibition next month, according to local media reports. Fast facts The Iran Power Generation, Distribution and Transmission Company told the state-run ISNA that the ban will be lifted on Sept. 22, local English media Financial Tribune reported. […]