How will the crypto tax debate play out in the UK?
Like many nations, the UK is formulating new rules and guidelines for crypto taxation. Will they help or hinder its crypto hub aspirations?
Bitcoin miner reserves hit lowest level since Feb 2010
Bitcoin miner reserves are at their lowest level since February 2010, showing miners offloading their holdings, according to data from IntoTheBlock. See related article: Bitcoin mining difficulty drops 2% after reaching all-time high in last adjustment Fast facts There were 1,908,672 BTC in miners’ reserves on Friday, down from 2,030,434 BTC at the end of […]
Apes still rule among the bears: NFT market falls for fifth straight month
‘Crypto Winter’ has touched all elements of the crypto market, and non-fungible tokens are no different.
India’s ED freezes more crypto in E-Nuggets money laundering case
India’s financial crime fighting agency has frozen additional cryptocurrencies worth around US$58,000 as part of an ongoing money laundering probe against mobile gaming application E-Nuggets and its former executive. See related article: Indian authorities probe alleged $125 mln money laundering cases involving crypto, report says Fast facts The additional cryptocurrencies include WRX, the utility token […]
Instagram, Facebook users in 100 countries can crosspost NFTs: Meta
Instagram and Facebook users in 100 countries can start sharing and crossposting their non-fungible tokens (NFTs) between the two platforms, Meta announced on Thursday. See related article: China’s ‘Instagram’ gets into virtual fashion with users strutting NFT clothes Fast facts Meta, the operator of the two social media platforms, said the feature is available to […]
Australia gears up for state-backed digital currency trials
Top blockchain and crypto news: Digital dollar didgeridoos. Bitcoin softens as sterling sinks. ‘World’s dumbest’ crypto criminals nabbed in China.
Cryptocurrencies much more than trading tools, says Caselin at AAX exchange
Who will regulate the regulators is a time-honored question and one Bitcoin enthusiasts raise when talking about the benefits of the token’s fixed supply versus the tendency of central banks to switch the money spigots off and on.
Do Kwon denies cashout allegations
The man behind Terra-LUNA contradicts the basis of the new action South Korean authorities took to corner and locate him.
China busts ‘world’s dumbest thieves’ in digital yuan money laundering case
Chinese authorities can track e-CNY wallet transaction history, if warranted, thanks to its ‘managed anonymity’ design.
Is crypto in a deep funk? Think again
Beyond the bear market, Web3 technology is shining bright in gaming and music, writes Hannes Graah of Gro. Are we at a tipping point for mass adoption?
South Korea’s Busan city wants to be blockchain central. Did everyone get the memo?
The coastal city was a prominent manufacturer of footwear, fabric and other light industries during the 1970s and 80s, and then grew into one of the world’s biggest container ports. Now it’s trying to reinvent itself in the digital world of blockchain.
Capital gains: How Web3 property rights can transform the digital economy
Digital ownership enabled by Web3 tech can challenge the monopolistic dynamics of Web2 and give people real equity, says Animoca Brands chief Yat Siu
Naver and LINE launch NFT platform for K-pop fans
South Korea-based internet giant Naver Corp. launched its non-fungible token (NFT) platform, NOW.Drops, with LINE NEXT on Wednesday. The platform will let K-pop music fans create customized NFTs. See related article: Naver’s Zepeto metaverse starts blockchain initiative with Solana Fast facts NOW.Drops allows users to mint NFTs of their favorite musical acts that they crop […]
Terra chief faces arrest as South Korea ramps up global manhunt
Top blockchain and crypto news: Where is Do Kwon hiding out? Ethereum Merge mood fading fast. China’s digital yuan draws scrutiny Down Under.
Hong Kong needs at least two years to build wholesale CBDC: HKMA
The Hong Kong Monetary Authority (HKMA), the city’s de-facto central bank, Tuesday said it concluded its market consultations on technical and policy grounds towards the city’s central bank digital currency (CBDC), estimating at least two to three years to build the wholesale system. See related article: Hong Kong flirts with e-HKD as it talks of […]
Ethereum’s PoW forks competing for market share see significant selloff
These PoW forks were created to keep revenue flowing for Ethereum’s miners, but plummeting prices put that plan at risk.
As “The Merge” succeeds, rival ETHPoW fork falters
ETHPoW, the Ethereum hard fork blockchain intended to preserve proof-of-work after the native chain transitioned to proof-of-stake, is facing technical difficulties despite months of anticipation. See related article: Ethereum says Merge upgrade successfully completed, more to come Fast facts Prior to the fork, it was announced that ETHW tokens would be airdropped to Ethereum holders. […]
JPMorgan, LRC bet on blockchain startup Ownera in US$20 mln Series A
London-based Ownera has raised US$20 million in a Series A funding round from investors including banking giant JPMorgan and private asset management firm LRC Group. See related article: Tokenized assets may make up 10% of global GDP by 2030: report Fast facts The funds will be used to deploy a global interoperability network to unlock […]
Binance launches Ethereum staking ahead of Merge upgrade
Top blockchain and crypto news: Binance bets on Ethereum Merge. What does Terra’s sudden resurgence mean? China seeks to expand e-CNY ecosystem.
Celsius CEO Alex Mashinsky floats restructuring as custody business amid bankruptcy proceedings
Amid its bankruptcy proceedings, crypto lender Celsius Network LLC, one of the major players in the contagion that struck the industry earlier this year, plans to reorganize as a crypto custody business, according to audio shared by a customer of the company and a report by the New York Times. See related article: Celsius files […]
Treasury to allow users to recover Tornado Cash funds
Over a month after placing the Ethereum coin-mixing tool Tornado Cash under sanctions, the U.S. Treasury Department announced a way for Tornado Cash users to recover their funds on Tuesday. See related article: Tether says didn’t freeze sanctioned Tornado Cash addresses so as to not interfere in investigations Fast facts The new guidance provides a […]
Fungible after all? Duplicates may disrupt NFT industry after Ethereum Merge
The Merge is the most anticipated event in the crypto industry in years, but could the multibillion dollar non-fungible token industry become an unexpected casualty?
Starbucks brewing NFT customer loyalty platform, so are smaller coffee shop chains
The largest coffeehouse chain in the world recently announced a new non-fungible token platform, while other coffee chains have eyed the technology long before.
How will crypto exchanges handle Ether post-Merge? Alphalab has a chart for that
Singapore-based crypto trader Alphalab Capital put together charts to show investors how different exchanges plan to handle Ether after the Merge. Note, some exchanges declined to comment.
The metaverse is already here. What’s holding back the party?
Interoperability is a key characteristic for the metaverse to be useful, writes Dr. Dimitry Mihaylov of National Univ. of Singapore. But the technology and laws are still lacking.
Why the real Ethereum killer might just be Bitcoin
Bitcoin is the most secure blockchain, and Ethereum’s proof-of-stake move will expose it to more security risks, writes Jagdeep Sidhu of Syscoin Network.
Binance pushes out USDC in aggressive move to boost its own stablecoin
Top blockchain and crypto news: USDC gets the boot from Binance. MicroStrategy looks for Lightning strikes. STEPN heads to Hong Kong.
SK Telecom’s Ifland metaverse adds cashable in-app economy
The Ifland metaverse, run by South Korean telecommunications giant SK Telecom (SKT), is allowing users to earn money by hosting meetups in the virtual world, the company announced Monday. See related article: South Korea’s Ifland metaverse dives into play-to-earn Fast facts SKT has adopted an “ifland point” system to usher in its metaverse economy — […]
Poolin pauses withdrawals from Pool Accounts, admits liquidity issues
Poolin has paused withdrawals from its wallets known as “Pool Accounts”, the major Bitcoin and cryptocurrency mining pool said in a statement on Monday. See related article: Poolin partners with crypto trading firm Quant Satoshi to expand US business Fast facts A recent surge in withdrawal demand is the primary root of the mining pool’s […]
India crypto exchanges plan long-term future as day traders flee
In facing a government hostile to cryptocurrency trading, Indian exchanges are trying to attract new business with suites of different investment products.
ENS provider reports third-highest monthly revenue, ahead of “The Merge”
Ethereum Name Service (ENS) reported its third-highest month of revenue in August, with 301,000 new “.eth” registrations, totaling 2.17 million names, according to a post on its verified Twitter handle. See related article: ENS domain name expires as developer is in prison, becomes up for grabs in Sept. Fast facts ENS generated 2,744 ETH, currently […]
Do I really need another picture of an ape? NFT market slumps in August
The NFT hype from earlier in the year is dying off as the market continues its downward path into the final third of the year. Fire sale coming for apes and cats?
South Korea’s taxman keeps circling crypto – airdrops look to be the next target
South Korea last week said crypto token airdrops are subject to a gift tax of as much as 50% under existing laws, but what is the likelihood this rule can be applied to digital holdings?
Why Ethereum PoW fork gains some crypto exchange backings
Amid uncertainty over Ethereum ‘Merge,’ some seek ways to potentially profit
Ukraine National Police takes down crypto fraud cybercrime group
The National Police of Ukraine (NPU) said on Tuesday it took down a network of call centers targeting Ukrainian and European Union citizens, who have already been duped by crypto scams. See related article: Ukraine seizes funds from crypto wallet funding Russian forces Fast facts According to NPU’s official announcement, the cybercrime network was disguised […]
The X-to-Earn model: Eat, sleep, do almost anything and get paid in crypto
Are you a good runner? Or eater? Or sleeper? Chances are whatever you’re good at, there’s a Web3 project out there to reward you in crypto. But do the tokenomics stack up?
India’s CoinDCX says it’s hiring to prepare for DeFi expansion
Despite the Indian government’s hostility towards cryptocurrencies, the CoinDCX exchange says more traditional financial products will shift to DeFi platforms.
Argentine province Mendoza to accept cryptocurrency as payment for taxes
The western Argentine province of Mendoza — the fifth most populous in the country — now accepts cryptocurrency as a payment option for taxes, the Mendoza Tax Administration (ATM) announced on Saturday. See related article: El Salvador’s Bitcoin adoption, one week on Fast facts Mendoza’s roughly 2 million residents will now be able to pay […]
What in crypto hell just happened to all your money?
Crypto investors were blindsided when firms like Voyager suddenly froze their accounts. How can we improve digital asset protection in the future?
Most crypto “still junk”, JPMorgan’s blockchain lead claims
Excluding a few dozen tokens, most cryptocurrencies are bound to “go away,” according to Umar Farooq, Chief Executive Officer of JPMorgan’s blockchain unit. See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts “Most of crypto is still junk,” he said at the Monetary Authority of Singapore’s Green Shoots […]
ENS domain name expires as developer is in prison, becomes up for grabs in Sept.
The domain for the Ethereum Name Service Decentralized Autonomous Organization (ENS DAO), eth.link, now displays an empty page with a banner saying the domain has expired, as the only person with authority to renew it is in prison. See related article: What is ENS (Ethereum Name Service) and how does it work? Fast facts Ethereum […]
India financial crime-fighters search CoinSwitch crypto exchange
India’s Enforcement Directorate (ED) has searched five premises connected with cryptocurrency company CoinSwitch on alleged money laundering charges, according to a media report. See related article: India’s WazirX says it has no-tolerance policy on illegal activities Fast facts The country’s central agency fighting financial crime conducted searches at residences of CoinSwitch directors and the official […]
Markets: Bitcoin, Ether bounce back; XRP climbs, Ether Classic jumps, Ankr gains on staking
Bitcoin and Ether staged a rebound Thursday afternoon in Asia, with most other tokens in the top 10 cryptocurrencies by market capitalization following them higher in a tentative recovery from last week’s slump. See related article: Markets: Bitcoin treads water, Ether Classic gets a bump, Cosmos gains on Kujira news Fast facts Bitcoin gained 1.97% […]
Ant Group, Malaysian investment bank Kenanga develop crypto wealth app
Ant Group, Chinese tech giant Alibaba’s fintech affiliate, has partnered with Malaysian investment bank Kenanga to launch a wealth management app with features to trade cryptocurrencies. See related article: Tencent gets patent nod to use blockchain for missing persons’ notices Fast facts Kenanga Investment Bank Berhad announced on Wednesday that it signed a memorandum of […]
OSL Digital placed a ‘tokenized bond’ in July — what’s next for blockchain securities?
Financial instruments sold and traded on a public blockchain could be the next big thing, so Forkast caught up with OSL to hear about what’s planned.
NFT platform SudoRare vanishes with 519 Ethereum
Non-fungible token (NFT) platform SudoRare has allegedly run off with US$815,000 in user funds and deleted its social media accounts, raising alarms over investor protection. See related article: Klaytn chief says reducing ‘human elements’ can prevent hacks Fast facts According to PeckShield Inc., a blockchain security and data analytics company, SudoRare took off with 519 […]
NEAR Foundation, Forkast shortlist 20 Women in Web3 for inaugural Changemakers list
Ten winners will be selected by public vote, which will end on August 29.
Tornado Cash storm; Australia plans crypto rules
The Tornado Cash bans have stirred the pot in the crypto markets. Meanwhile, Australia looks for new ways to regulate crypto.
Problems with tokenizing real estate and how to fix it
Real estate as an investment is not very liquid, composable or accessible, writes Joel Lin of CitaDAO. Can tokenization and DeFi transform this market?
Keeping it real: How metaverses connect to the physical world
Metaverses are more than gamified virtual spaces — they’re a different way to live real life, says Metapolis cofounder Sandra Helou.
Chandler Guo tells why he is the man who would hard fork Ethereum
In a Q&A, the former cryptocurrency miner explains his methods for trying to pull together a band of Ethereum mining brethren in order to keep their rigs running. The idea started at a party at his house.
Australians can now use crypto to buy gasoline, Krispy Kreme donuts
Australian consumers can use cryptocurrency to pay for gasoline and other goods — including Krispy Kreme donuts — at 175 OTR service stations through a partnership with Crypto.com and payment terminal provider DataMesh Group Pty Ltd. See related article: Crypto.com inks AU$27M deal with the Australian Football League Fast facts The service stations allow Crypto.com […]
Jump Crypto to revamp core part of Solana’s infrastructure
Jump Crypto, the crypto arm of high-frequency trading firm Jump Trading Group, announced on Tuesday plans to develop a new open source validator client for the Solana network to boost throughput and reliability. See related article: Solana validators complete restart; Laos ends crypto ban Fast facts Jump Crypto will “propose a major upgrade to Solana’s […]
Polkadot Defi hub Acala burns some 1.3 bln mis-minted stablecoins
Acala Dollar (aUSD) burned over 1.29 billion aUSD minted in its liquidity pool and traded higher on the day at US$0.91 at 5 p.m. Hong Kong time on Tuesday, up from a low of nearly zero on Monday. See related article: Polkadot-based stablecoin Acala Dollar depegs after a breach Fast facts Over the weekend, exploiters […]
U.S. Treasury overstepping authority in Tornado Cash sanction, says advocacy group Coin Center
The U.S. Treasury may have overstepped its legal authority by sanctioning cryptocurrency mixer Tornado Cash, said crypto advocacy group Coin Center. See related article: Circle freezes smart contract addresses linked to blacklisted Tornado Cash Fast facts See related article: Ronin hack proceeds seen headed to Tornado Cash
Privacy protocol Monero completes upgrade to make transactions more private
Monero completed its hard fork for a network upgrade on Saturday in an attempt to add more privacy to transactions on the protocol. See related article: Ransomware attacks are growing in sophistication. What can stop them? Fast facts Monero Sunday said that the network is “now more private and efficient with ringsize 16, Bulletproofs+, and […]
Polkadot-based stablecoin Acala Dollar depegs after a breach
Stablecoin Acala Dollar (aUSD) lost its parity with the U.S. dollar following a breach over the weekend, but its price has since begun to bounce back. See related article: Axie Infinity blockchain Ronin hacked for over $600M Fast facts Cryptocurrency analyst @Alice und Bob tweeted that the depeg was caused by US$1.2 billion of aUSD mistakenly […]
Korea Blockchain Week points to games leading the way into a Web3 savvy world
Follow the money? Korea Blockchain Week concludes this weekend in Seoul and one of the overarching themes is enthusiasm for blockchain-based gaming as the key to opening up a Web3 world to a broader audience.
No ‘conclusive evidence’ that US$6 mln Solana hack caused by loophole: Slope
Solana-based wallet Slope said on Thursday there is no “conclusive evidence” to connect its mobile wallet’s loophole with Solana’s recent breach, although 1,400 wallets connected to the loophole were drained. See related article: Seed-phrase leak from crypto wallet Slope prompts Solana hack Fast facts See related article: Solana blames Slope for exploit
Simping in Web3 to follow the DAO of Irene
Can blockchain technology help starstruck little guys profit from being superfans of popular e-girls? Joel Stein joins Irene Zhao’s IreneDAO to find out.
Limit crypto expansion in developing countries, urges U.N. agency
The United Nations Conference on Trade and Development (UNCTAD) has urged limits on cryptocurrencies across developing nations, in a series of policy briefs released on Wednesday. See related article: IMF says crypto crash hasn’t quite harmed broader financial system Fast facts The UNCTAD, part of the UN Secretariat, said cryptocurrencies could curb the effectiveness of […]
Markets: Bitcoin, Ether rise with equities as US inflation shows signs of slowing
Bitcoin, Ethereum and all other top 10 cryptocurrencies rose in tandem with U.S. equities markets overnight as consumer data showed U.S. inflation slowed in July. Polkadot surged after announcing a tie-up in decentralized finance services. See related article: Markets: Bitcoin, Ether fall in general sell off; Solana takes hit, BNB stumbles Fast facts Bitcoin changed […]
Binance-WazirX spat heats up as investors yank funds from Indian exchange
Top blockchain and crypto news: Binance spurns WazirX amid India probe. BlackRock bets on Coinbase. Crypto influencers in China’s crosshairs.
India crypto traders try to dodge fallout from WazirX woes, spat with Binance
What’s a crypto trader to do when the government freezes exchange assets, sparking a war of words between supposedly ‘merged’ exchanges?
Vitalik Buterin says he used Tornado Cash to donate to Ukraine
Amid debate over the U.S. Treasury Department’s banning of the crypto mixer, the Ethereum cofounder said he used the service to protect recipients.
Zipmex to release unspecified amount of Bitcoin, Ether to its customers
Crypto exchange Zipmex is planning to release an unspecified amount of Ethereum and Bitcoin on Aug. 11 and 16 respectively, after a suspension of withdrawals from its Z Wallet last month. See related article: Why Singapore may be the ideal place for companies to rebuild post-crypto winter Fast facts The Singapore-based company said on Monday […]
Circle freezes smart contract addresses linked to blacklisted Tornado Cash
Circle Internet Financial Ltd., the issuer of the USDC stablecoin, froze over 75,000 USDC in funds linked to 81 sanctioned addresses at the cryptocurrency mixer Tornado Cash on Monday, according to data from crypto aggregator Dune Analytics. See related article: Bad actors in North Korea, Russia send record-high funds to crypto mixers Fast facts The […]
Investigating ‘The Hackening’; Crypto market inflows up
Why are cross-chain bridges so attractive for hackers? Also, we take a deeper dive into how the market reacts to it.
Business as usual at India’s WazirX as Binance distances itself
Indian crypto exchange WazirX said its operations are being conducted as usual, even after Binance denied owning equity in Zanmai Labs, the entity operating WazirX. The spat over ownership — Binance had reportedly acquired WazirX in 2019 — surfaced after Indian authorities reportedly froze US$8 million in WazirX assets, alleging possible violation of foreign exchange laws. […]
Welcome to Web3, (hopefully) not a bigger monster than its version 2 sibling
How does a centralized internet browser plan for a decentralized future? Reinvention, and finding a receptive audience. First stop, Southeast Asia.
Affairs of the art: Why NFT creators have fallen for Tezos
Tezos has become a leading art blockchain, even in China, where NFTs are barely tolerated. Its regional chief, Katherine Ng, explains its success
Instagram expands NFT platform to 100 countries
Instagram’s platform for non-fungible tokens (NFT), which the firm is calling “digital collectibles,” is now available in 100 countries, the Facebook parent Meta-backed social media giant said. See related article: Meta’s attempts at building a metaverse will ‘misfire’: Vitalik Buterin Fast facts With support for Coinbase and Dapper wallets added, Instagram now supports wallets from […]