Binance winds down derivatives trading in Hong Kong
Binance — the world’s largest cryptocurrency exchange by trading volume — today announced that it will be restricting the use of its derivatives products for customers from Hong Kong. Fast facts Hong Kong customers will, with immediate effect, not be able to open new Binance deriviative product accounts, according to a Binance announcement posted at […]
Ripple expands XRP into NFTs amid escalating legal battles
As court grants CEO request to obtain info from Binance to bolster defense in SEC lawsuit, Ripple seeks to expand use cases for XRP Ledger.
Indian Olympic medalists to get free cryptocurrencies
Indian athletes who have won medals at the Tokyo Olympics have been promised free cryptocurrencies by Indian crypto exchange Bitbns, according to a report by the Economic Times. Fast facts Bitbns will create systematic investment plans denominated in Bitcoin and Ethereum worth around US$2,695 for gold medalists, US$1,348 for silver medalists and US$674 for bronze […]
New York Times article explores underbelly of memecoins
A revealing feature article on the hidden world of “hypecoins” was published by the New York Times yesterday, in which journalist David Segal recounted the process of creating and then selling his own hypecoin, which he called IdoitCoin. Fast facts Hypecoins, otherwise known as memecoins, are tokens with little or no intrinsic value, created only […]
Decentralized music streaming platform Audius reaches 5M users
As blockchain begins to make its way into more consumer applications, decentralized, Ethereum-based music streaming platform Audius has reached 5 million monthly users for the first time, Yahoo! Finance reports. That milestone makes Audius one of the biggest consumer-centric blockchain applications. Fast facts Launched in 2019, Audius boasts approximately 100,000 artists, including big names such […]
Ether price and trading volume surging as Ethereum upgrade goes live
Ethereum’s London hard fork sees a smooth launch as the crypto market sends Ether’s price soaring.
Venezuela launches CBDC amid runaway inflation and currency redenomination
In an effort to curb runaway inflation, Venezuela’s central bank is removing six zeros from its currency and putting a digital bolivar into circulation on Oct. 1, according to reporting by Bloomberg. Fast facts An example of a central bank digital currency, the digital bolivar was announced by the Venezuelan central bank’s Twitter account yesterday […]
China continues e-CNY pilot; Google allows crypto advertising
China continues e-CNY pilot also Google allows crypto advertising
Ethereum rising: 3 reasons why Ether’s price could soon break $3,000
Will Google greenlighting US crypto ads, Ethereum’s London upgrade and clearer regulations pave the way for another Ether price rally?
Google lifts crypto advertising ban
In a long-awaited reversal of a 2018 policy decision, Google will allow crypto exchanges and wallets to advertise on its platform in the U.S. But not everyone’s happy.
Bosch starts machine learning trials with Fetch.ai using AI, blockchain
Bosch, a German manufacturing and technology company, today announced that it will be using a decentralized machine learning network built by Fetch.ai, an artificial intelligence lab based in the British city of Cambridge, to predict potential failures in manufacturing machinery. Fast facts The Bosch research team will be initiating machine learning trials on the Fetch.ai […]
The9 expands to Kazakhstan with new crypto mining joint venture
The9 Ltd., a Chinese gaming company that only a few months ago pivoted to crypto mining, has signed a term sheet through a company unit with an enterprise in Kazakhstan to set up a joint venture. The move is a bid to ramp up crypto mining operations in the Central Asian nation. Fast facts Nasdaq-listed […]
DBS Bank’s digital exchange assets surge 60% in Q2
DBS eyes bigger investor base as digital assets under custody top US$100 million.
U.S. infrastructure bill set for possible change following crypto industry backlash
An amendment has been introduced to the US$1 trillion infrastructure bill currently before the U.S. Senate that would exempt bitcoin miners and other validators from a provision seeking to raise funds for its fulfilment, according to a report by CNBC. Fast facts As Forkast.News has reported, the provision sought to raise US$28 billion over the […]
Binance partners with Shopify and others to offer crypto payments online
Amid a turbulent time for the world’s largest crypto exchange, Binance has announced a new partnership with Alchemy Pay to bring crypto payment options to e-commerce platforms such as Shopify. Fast facts Running on the exchange’s Binance Pay feature, the partnership will allow users and merchants to send and receive crypto globally in over 40+ […]
Rothschild’s RIT Capital leads funding round for Aspen Digital to provide crypto services for institutional investors
Hong Kong-based Aspen Digital, a digital asset management platform for institutional investors, announced on Wednesday that it has secured US$8.8 million in pre-A funding to develop a one-stop shop for asset managers to invest in digital assets and manage their clients’ portfolios. Fast facts The funding round was led by RIT Capital Partners, the London-based […]
Could Ethereum’s upgrade affect miners’ manipulations for extra profits?
Cryptocurrency miners are front-running Ethereum transactions to make profits called MEV that critics decry as unfair. What can be done about it?
How blockchain can bring litigation finance to small investors
Investing in litigation was once limited to the wealthy. But a lawsuit’s monetary potential can now be tokenized for sale to the masses. Is that a good idea?
Ethereum upgrade closely watched; India launches e-RUPI voucher
Ethereum upgrade closely watched also India launches e-RUPI voucher
Taxing times for crypto. Ethereum hard fork takes knife to fees. Tencent bets on NFTs.
Top blockchain and crypto news: Is Ethereum’s price flatlining on eve of revolution? Uncle Sam wants pay to play. China’s Big Tech toes the line with NFTs.
Canaan grows crypto rig sales as Chinese miners tool up abroad
North America emerges as hardware demand hotspot amid Beijing’s regulatory onslaught against cryptocurrency sector.
Ethereum prices hit resistance as major London Upgrade looms
ETH rose in a historic run in anticipation of ‘Ethereum halving’ — but dipped on the eve of the London hard fork. Forkast.News asks top cryptocurrency analysts to find out why.
Mastercard partners with Australian exchange for crypto card
In a further move towards cryptocurrency adoption, Mastercard has partnered with one of Australia’s oldest crypto exchanges, CoinJar, to launch one of the country’s first crypto payment cards. Fast facts The card became available on Tuesday in a digital form through integration with Apple Pay and Google Pay, and will be available in a physical […]
SEC chair labels crypto industry ‘Wild West,’ asks for more powers
The cryptocurrency trading industry has been labeled a “Wild West,” riddled with fraud and investor risk, by U.S. Securities and Exchange Commission Chair Gary Gensler, according to a Reuters report. Fast facts Calling on Congress at the Aspen Security Forum to give the SEC more power to regulate the industry, Gensler said many of the […]
Bitcoin SV suffers a new 51% attack
Bitcoin SV has suffered another 51% attack beginning around 11:45 am EDT on Tuesday resulting in up to three versions of the chain being mined simultaneously, as initially reported by analytics firm CoinMetrics.io. It is the fifth such attack on the network since late June. Fast facts Further reporting by the firm reported all of […]
HSBC blocks UK customer payments to Binance
Binance’s woes continue to mount as global banking giant HSBC is now blocking its customers in the United Kingdom from making credit card payments to Binance, according to Yahoo News. Binance is the world’s largest cryptocurrency exchange. Fast facts HSBC’s move follows similar actions taken by NatWest — a Scotland-based bank with 12.5 million customers […]
Ethereum addresses using DeFi soar 65% to over 2.9M
The Ethereum ecosystem is continuing to see strong growth, with institutional capital ‘flooding’ into decentralized finance and decentralized autonomous organizations flourishing.
United Nations-associated NFT art project builds on Polkadot to fight climate change
The DigitalArt4Climate NFT initiative aims to promote art via blockchain technology to inspire environmental activism around the world.
Hong Kong crypto crime surges; Tencent launches NFT platform
Hong Kong crypto crime surges as Tencent launches NFT platform.
Blockchain applications that will change the world in the next 5 years
The next half decade will see mass adoption of decentralized technology, writes Max Kordek of Lisk. Here are the leading uses.
Marathon Digital to buy more mining rigs from Bitmain
Nasdaq-listed Marathon Digital Holdings, one of the biggest Bitcoin mining companies in North America, has announced a deal to buy an additional 30,000 mining machines from Bitmain to boost its mining capacity. Fast facts Marathon has entered into a contract with Bitmain to purchase 30,000 Antminer S19j Pros worth a total of US$120.7 million, the […]
Tencent climbs aboard NFT bandwagon with new trading app
Chinese internet giant Tencent is making a foray in the world of non-fungible tokens, launching an NFT trading platform named Huanhe. Fast facts The tech conglomerate has rolled out the Huanhe app — built on the company’s own Zhixin chain — on its Android application platform. Its debut sales feature 300 audio NFTs created based […]
Crypto mining rig maker Canaan names new CFO
Cryptocurrency mining rig manufacturer Canaan has announced the appointment of James Jin Cheng as its new CFO, following the resignation of his predecessor in February. Fast facts Cheng was previously vice president of Chinese internet recruiting platform Zhaopin Ltd., which listed on the New York Stock Exchange in 2014 before being taken private in 2017. […]
Miami prepares launch of city cryptocurrency
The city of Miami is set to launch its own cryptocurrency, MiamiCoin, tomorrow. The token will allow people to invest in the city to fund infrastructure projects and events, according to a report by Decrypt. Fast facts The token is being released in partnership with CityCoin, a project that facilitates cities releasing their own tokens […]
Square acquires Afterpay for $29B to expand into ‘buy now pay later’
Global payments giant Square — which recently made moves into decentralized finance — is acquiring Australian “buy now pay later” fintech company Afterpay for US$29 billion (AU$39 billion) to expand its range of services, according to a recent company press release. Fast facts The purchase will enable Square’s CashApp and Seller business units to offer […]
Singapore poised to grant one of first approvals to crypto exchange Independent Reserve
Australian cryptocurrency exchange Independent Reserve said Monday that it had received an “in-principle approval” for a Major Payment Institution License in Singapore to operate as a regulated digital payment token (DPT) service provider, according to a company statement. Fast facts Founded in Australia in 2013, Independent Reserve set up its first overseas operations in Singapore […]
Crypto crimes surge to record levels in Hong Kong
Crypto-related crime has hit record levels in Hong Kong for the first six months of this year, with one victim losing HK$124 million (US$15.95 million) to fraudsters, according to the South China Morning Post. Fast facts Hong Kong police recorded 496 such cases totaling HK$214.4 million (US$27.58 million) in just the first half of this […]
Will Facebook’s metaverse future transform how we live online?
Facebook CEO Mark Zuckerberg has a vision for metaverses — online worlds that one day will replace big parts of our offline lives. But some say that future is already here.
China maintains crypto market pressure; J-Pop stars offer NFT advice
China maintains crypto market pressure. On the other hand, J-Pop stars offer NFT advice.
NFT market OpenSea transaction volume hits record high
Non-fungible token marketplace OpenSea’s July transaction volume reached a new high of almost US$325 million, a 118% increase from an historic high attained in June. Fast facts The new numbers make OpenSea the most active NFT marketplace. OpenSea’s July NFT transaction numbers and transaction fees were also records, at 457,700 and US$21.78 million, respectively, breaking […]
Chinese central bank shows no sign of softening stance on crypto
People’s Bank of China vows to keep sector under ‘heavy pressure’ as it pushes digital yuan.
Binance in Malaysia ban as it ends derivatives trading in Germany, Italy, Netherlands
World’s biggest cryptocurrency exchange steps up compliance and cuts product offerings, with a ban in Malaysia and end of lucrative derivatives business in three EU nations.
U.S. infrastructure bill could bring sweeping regulatory changes to crypto
A provision in an infrastructure bill being debated by the U.S. Senate has prompted concerns in the crypto industry as it boosts Internal Revenue Service reporting requirements for investors and brokers. Fast facts According to the New York Times, the provision is an effort to help fund a US$ 1 trillion bipartisan bill and could […]
Singapore crypto financial services unicorn Matrixport closes fundraise
Matrixport, a Singapore-based digital asset financial services platform, today announced the completion of a series-C funding round, bringing the company’s valuation to more than US$1 billion. Fast facts The funding round was led by partners of DST Global, C Ventures and K3 Ventures, with other investors including Qiming Venture Partners, CE Innovation Capital and Tiger […]
How NFTs can track patient consent for clinical trials and give you greater control over your own health data
A new NFT platform built on Hedera Hashgraph aims to give patients greater control over their health information. How does it work?
Japan’s Monex and SBI report strong Q2 results
Two of Japan’s largest crypto firms, Monex and SBI Groups, have seen strong performances in the second quarter of the year, according to the groups’ respective Q2 reports. Fast facts SBI operates two domestic exchanges, SBI VC Trade and the TaoTao platform, as well as the mining arm SBI Crypto and U.K.-based liquidity provider B2C2. […]
How Wall Street’s ‘best-kept secret’ now fuels high cryptocurrency yields
Celsius Network CEO says crypto lenders are using Wall Street’s ‘safest’ business tactic to provide high interest rates to customers. What are the risks?
Busan plans digital asset exchange; Tencent launches digital IOUs:
Busan plans digital asset exchange meanwhile Tencent launches digital IOUs.
10 key blockchain developments in healthcare toward Covid-19 in 2021
Blockchain technology is part of the important work being done toward a safer and healthier world. Lucas Schweiger of Blockdata summarizes this year’s strides forward.
Bitcoin mining difficulty rising again as miners resettle and get back to work
The global Bitcoin hashrate is now on an uptrend as miners pushed out by China resettle on friendlier shores and resume investing big money in mining equipment.
South Korea’s Busan city to establish digital asset exchange
Busan, the “blockchain city” of South Korea, is in the early stages of building its own platform for digital asset transactions. Fast facts According to Coindesk Korea, Busan city has started setting up detailed plans and strategies in establishing a digital asset exchange. Its plans include building an ecosystem for securities token-based digital asset transactions […]
India admits it has no good data on crypto exchanges, despite years of debate over regulations
Speaking to Parliament, India’s finance minister reveals that the government does not know how many crypto exchanges India has nor the number of crypto users.
Crypto exchange FTX.US daily trading volumes jump 150-fold in a year
FTX.US, the U.S. affiliate of Hong Kong-based cryptocurrency exchange FTX, saw its average daily trading volumes soar 150-fold in June compared to the same month a year before, according to the company’s mid-year results. Fast facts The company reported that FTX.US had a daily volume that ranged between US$150 million and US$1 billion in the […]
IMF wants to be part of world’s transition to a digital economy
The International Monetary Fund says it has a mandate to help countries around the world adopt and adapt to digital currencies, but only if the digital money is in the public interest — which Bitcoin is not, according to an IMF report published yesterday. Fast facts While the IMF recognizes the potential benefits of digital […]
Here are Japan’s crypto investing bottlenecks, according to new report
Japan’s crypto-asset business association published a report yesterday that highlights issues in crypto investing for the country’s institutional investors. Fast facts This report is an update of the latest use cases and projects from the “Discussion Paper Interim Report on Cryptocurrency Use Cases” published on May 7, 2021, and is a supplementary material to the […]
Robinhood’s IPO is just the start of an investing class war
What is Robinhood really worth, now that it’s a public company? Perhaps its true value depends on who you are.
Robinhood closes 8% down in underwhelming IPO
Robinhood’s hotly-anticipated market debut had an underwhelming start on Thursday, closing 8% down on its debut price of US$38, according to data from TradingView.com. Fast facts Trading under the ticker HOOD, Robinhood’s stock had an immediate rocky start, falling 10% before recovering slightly. But HOOD still ended the day at US$34.82. As Forkast reported recently, […]
Chinese authorities swoop on 380 suspected crypto and wire fraud groups in 1H 2021
Wire fraud, including cryptocurrency-related fraud, becomes fastest-growing crime as scams — some even involving China’s digital yuan project — proliferate.
Over 220 million people are now crypto users, says new report
The number of crypto users around the world grew to 221 million in June, double the number in January, according to a report released today by Hong Kong-based cryptocurrency exchange, Crypto.com. Fast facts Bitcoin drove the growth in crypto use from January to April, with companies such as Microstrategy, PayPal, Tesla and Visa buying into […]
Crypto retirement plans are on the rise. Are they a good idea?
Tokenization is creating new ways to invest. 3 crypto firms are partnering to also offer crypto retirement portfolios and inheritance planning.
India admits no crypto data; Korean crypto investor numbers plummet
Number of new South Korean crypto investors have tanked in the month of June as crypto mining investments boom outside China.
Is Bitcoin mining hot again? These crypto insiders think so
Despite China’s crackdowns on Bitcoin mining and growing consternation about crypto mining’s carbon footprint, some miners are betting big on a rosy future.
Number of new crypto investors in South Korea drops over 90%
New data provided by lawmaker Kim Hee-gon shows a significant decline in new users and the amount of transactions on the four largest cryptocurrency exchanges in South Korea. Fast facts The data aggregated by the four largest crypto exchanges in Korea — Upbit, Bithumb, Korbit and CoinOne — shows that their total of new users […]
Iran’s electric utility issues warning about Chinese crypto miners
Iranian state electric company Tavanir has warned judicial officials about Chinese cryptocurrency miners coming to Iran, an influx that could worsen the country’s power outage problems, according to local media reports. Fast facts Tavanir CEO Mohammad Hussein Motevallizadeh said in a letter published by local news website Eghtesadnews that the Chinese government’s crackdown on crypto […]
Crypto mining rig giant Bitmain divests from AntPool, the world’s biggest mining pool
Bitmain’s move comes amid China’s crypto mining crackdowns and AntPool’s shrinking hashrate. Is Bitmain gussying up for an IPO?
PayPal unveils plan to greatly expand crypto services
PayPal customers will soon have access to a greater range of crypto services through the global payment platform, CEO Dan Schulman said during PayPal’s Q2 2021 investor update call yesterday. Fast facts Describing the upgrade as “code complete,” Schulman said the wallet should be fully available for customers in the Unite States in the next […]
Stoner Cats cause trouble on Ethereum as NFT cartoon goes live
Sales of non-fungible tokens for “Stoner Cats,” the new adult cartoon featuring Ethereum creator Vitalik Buterin alongside Hollywood A-listers, resulted in losses totaling 344.6 ETH (US$790,000) to fans yesterday due to the influx of buyers who overwhelmed the Ethereum network and failed transactions, according to data from Dune Analytics. Fast facts The show, which sold […]
Why blockchain technology is integral to a future of net-zero carbon emissions
Shifting to renewable energy is now a global goal. Using electric vehicles as an example, Author Joseph Jacobelli examines how digital technologies like blockchain will lead the way to a greener planet.
Battle for blockchain talent is heating up. What and where are the crypto jobs?
Flush with capital, blockchain and crypto firms are on a hiring spree. Here’s how the battle for crypto talent is playing out.
Amber Group launches CreatorFi NFT initiative to bridge traditional, crypto worlds
Hong Kong-based crypto financial services company Amber Group wants to bridge the gap between creators, collectors and platforms looking to get into NFTs and the crypto space.
Bitmain spins off Antpool; Binance CEO willing to step down
Binance CEO CZ confirms that a new executive may lead the organization. Meanwhile, Bitmain spins off one of the world’s largest mining pool Antpool.
Robinhood readies IPO as risks cast shadow over future earnings potential
The fee-free trading platform’s initial public offering promises plenty of action for retail investors, but pitfalls may lie in wait amid trading volatility and wider adoption of business model.