Kraken to withdraw US$1.17 bln of staked Ether in line with SEC ruling, settlement
As part of its February settlement with the Securities and Exchange Commission (SEC), the U.S.-based Kraken crypto exchange has submitted the largest Ether withdrawal request since Wednesday’s upgrade to the Ethereum blockchain. The SEC ordered Kraken to shut down what it called unregistered staking programs.
Cardano NFTs slump as users trade top-tier projects in favor of newer ones
Cardano NFT ecosystem sees a significant decline as users sell off top-tier projects for newer ones, according to Forkast CAR NFT Composite.
Forkast NFT indexes reveal the hidden costs of y00ts, DeGods’ moves across blockchains
Forkast Labs’ NFT indexes reveal Polygon’s US$3 million incentive to move y00ts over to its blockchain may have cost its users.
Ethereum Shanghai upgrade prompts Ether withdrawals, but no stampede for exits
Ether holders withdrew more than US$102 million worth of Ether in the first six hours after the Shanghai upgrade opened the door to cash out the staked token, though analysts see the amount as within expectations.
Bitcoin fluctuates at US$30,000; Ether gains; Litecoin, XRP drop; U.S. equities fall on recession concern
Bitcoin dipped but held above US$30,000 in Thursday morning trading in Asia that saw mixed performances among the top 10 non-stablecoin cryptocurrencies.
How decentralized limit orders can transform crypto trading
On-chain limit orders offer an alternative to centralized exchanges by improving transparency and security, writes Ramani Ramachandran of Dfyn. What are the drawbacks?
G7 plans to help developing countries introduce CBDCs
Japan’s top finance diplomat, Masato Kanda, announced on Tuesday that the G7 nations will work together to help developing countries introduce CBDCs in line with international standards.
Crypto firms hardpressed to find U.S. bank partners as industry blames ‘Operation Choke Point 2.0’
NYDFS superintendent Harris called the idea of Operation Choke Point 2.0 “ludicrous,” but industry participants largely disagree. Was the shutdown of the three largest crypto-friendly institutions a coordinated effort to unbank crypto?
Bitcoin slips but remains above US$30,000 ahead of U.S. inflation data
Bitcoin slipped in Wednesday afternoon trade in Asia but remained above the US$30,000 mark. Ether prices sank, along with all top 10 non-stablecoin cryptocurrencies by market capitalization, with Cardano and Dogecoin as the biggest losers.
Bitcoin rally continues, Solana jumps as ‘Saga’ release anticipated
Welcome to The Daily Forkast – April 12, 2023 – presented by Megha Chaddah. Bitcoin continues to trade upwards, gaining around 1.5% overnight and is trading at a 10-month high. Ethereum on the other hand has lost a bit of it’s weekly gains as traders are beginning to factor in possible liquidation in anticipation of […]
Bitcoin maintains US$30,000, Solana jumps, U.S. equities trade mixed
Bitcoin held above US$30,000 in Wednesday morning trading in Asia, while most other top 10 non-stablecoin cryptocurrencies moved higher.
NFT.NYC is back to deliver the Woodstock of NFTs
The NFT industry is gathering at New York for NFT.NYC, but the overloading frequency of events could be causing “event fatigue.”
Equinix, Astra in pact to advance Indonesia’s digital infrastructure needs
Nasdaq-listed Equinix and Indonesian conglomerate Astra International have set up a joint venture to help local businesses and multinationals capitalize on emerging technologies.
Common regulatory framework for crypto to come during India’s G20 presidency, finance minister says
A common regulatory framework for all countries is underway, India’s Finance Minister Nirmala Sitharaman said on Monday.
Bitcoin rises above US$30,000, Solana leads gains across top 10 cryptos
Bitcoin continued to rally past US$30,000, with Ether and all other top 10 non-stablecoin cryptocurrencies gaining in Tuesday afternoon trade in Asia. Solana was the biggest gainer at 11.09%.
Bitcoin breaks US$30,000 barrier for the first time since June 2022
Welcome to The Daily Forkast – April 11, 2023 – presented by Megha Chaddah. Exciting news as Bitcoin finally breaks the US$30,000 mark since June last year, having risen more than 5% in the last 24 hours. Ethereum is also looking good in the markets. As the Shapella upgrade is due for completion this week, […]
Ethereum blockchain upgrade unlocks US$34 billion in Ether, what does it mean for crypto prices?
The upcoming upgrade to the Ethereum blockchain will allow users to withdraw millions of “staked” Ether, the native cryptocurrency, for potential sale. That would typically indicate a flood of selling pressure awaits the token, but not everyone is buying that.
Bitcoin holds above US$28,000, Dogecoin rises most in top 10 cryptos
Bitcoin and Ether rose in Monday afternoon trade in Asia, along with most other top 10 non-stablecoin cryptocurrencies by market capitalization.
Bitcoin resumes rise, Ether gains ahead of upgrade, Dogecoin makes up some lost ground
Bitcoin resumed its rise above US$28,000 in Monday morning trading in Asia, a support level it has fluctuated around for most of April.
Blur nemesis OpenSea releases OS Pro trading tools, Gemesis NFT
OpenSea has reignited the marketplace battle by introducing its own pro tool. What’s in it for NFT traders?
Weekly Market Wrap: Bitcoin stuck at US$28,000 amid signs of slowing economies
Bitcoin bounced around the US$28,000 mark as worries about bank failures were replaced by concerns about a recession in the U.S. Just for good measure, the IMF forecast the global economy will see its slowest growth in two decades.
Bitcoin trades under US$28,000, Dogecoin biggest loser
Bitcoin rose as Ether fell during Asian trading hours on Friday, with most of the top 10 non-stablecoin cryptocurrencies by market capitalization dropping. XRP rose the most, while Dogecoin was the biggest loser.
Web3 is not all about ‘ownership’ — it’s so much more
Ownership is only one feature of Web3. The more important and defining characteristic is ‘verifiability,’ writes Jonathan Victor of Protocol Labs.
Bitcoin holds US$28,000 in choppy trading; Ether falls after US Treasury warns against DeFi risk
Bitcoin moved in a narrow range above the support line at US$28,000 in Friday morning trading in Asia, while most other top 10 crypto declined.
Singapore developing guidelines for banks on crypto clients: Bloomberg
The Monetary Authority of Singapore is reportedly working on guidelines to help local banks vet and provide banking services to cryptocurrency clients
Bitcoin, Ether dip; Dogecoin loses Twitter tailwind; U.S. equities drop on recession concerns
Bitcoin dipped below US$28,000 in Thursday morning trading in Asia as most other top 10 non-stablecoin cryptocurrencies lost steam. Dogecoin led the losers.
Arbitrum’s AIP-1 proposal to be split after community backlash
Top blockchain and crypto news: Arbitrum to segment AIP-1. DeGods NFT collection moves to Ethereum. Crypto on the agenda at ‘China’s Davos.’
Bitcoin pushes beyond US$28,000; Polygon’s Matic leads gainers, same chain sees surge in NFT trades
Bitcoin rose on Wednesday, moving above US$28,000. Ether, Matic and most other top 10 non-stablecoin tokens gained.
What the US can learn from the Philippines to regulate crypto in a smarter way
The Philippines has licensing requirements and proactively monitors crypto firms, while the US regulates by enforcement only after consumers are already badly hurt, writes Robert De Guzman of Coins.ph.
Web3 can change the world. Why aren’t more people on board?
Despite Web3’s vast potential, it’s still too clunky and opaque to most people, writes Miles Parry of MPCH Labs. Here’s what can make it more user-friendly.
Bittrex crypto exchange to shutter U.S. operations due to regulatory uncertainty
Seattle-based crypto exchange Bittrex, Inc. will wind down its U.S. operations from April 30, citing continued regulatory uncertainty in the region.
Bitcoin, Ether drop; US equities rise as inflation cools
Bitcoin dipped on Monday morning in Asia but held above US$28,000. Most top 10 non-stablecoin cryptos dropped following a week unsettled by regulatory woes.
Weekly Market Wrap: Bitcoin pops above US$29,000, market shrugs off Binance legal woes
With a U.S. regulator coming after Binance with a lawsuit and the seeming mounting pile of warnings and fines against other exchanges in the country, Bitcoin briefly skidded below US$26,677 only to rebound and pop up above US$29,000 on Thursday. Since then it has moved along the US$28,000 line, so what does this lawsuit by the heavyweight Commodity Futures Trading Commission mean for the broader crypto market?
Crypto platforms need regulation as form of investor protection: HK’s SFC chief
Government officials from Hong Kong and mainland China talked about cryptocurrencies at the Boao Forum in China, as both chase Web3 ambitions.
HK-based venture fund hopes to raise US$100 mln for crypto investments: Bloomberg
Hong Kong-based asset management firm Plutus VC plans to raise US$100 million by the end of 2023 to fund investments in the cryptocurrency market, according to a Bloomberg report. The fundraising comes as the city moves to regain its status as an international finance and crypto hub.
Hong Kong may license at least 8 crypto firms by year-end: former SFC regulator
Hong Kong may issue virtual asset trading licenses to at least eight cryptocurrency-related firms by the end of this year as part of the city’s new crypto licensing regime, said Angelina Kwan, chief executive officer of financial services firm Stratford Finance and a former regulator of the Hong Kong Securities and Futures Commission.
Why rollups-as-a-service will be to Web3 what AWS was to Web2
The blockchain world is hampered by many of the same problems as the early internet, writes Amrit Kumar of Altlayer. What could RaaS do for the industry?
Crypto exchange Fasset hopes to win Indonesia license next month
Dubai-based Fasset says Indonesia digital asset adoption is still in early stages, but the country’s young population is taking to crypto faster, encouraging exchanges to move in despite infrastructure constraints.
Is our banking system obsolete?
For long, people could only put cash into a bank account or under the mattress, writes Eric Johnson. Will blockchain technology offer a viable alternative?
What impact will Ethereum’s Shanghai upgrade have on ETH and crypto markets?
Despite the potential sell pressures after Ethereum’s upcoming hard fork, it’s more likely that ETH stakers will hold for the longer term, writes Bill Xing of Bybit.
Death and crypto taxes: Which one inspires greater dread?
Filing taxes on crypto assets is a ‘massive pain in the proverbial butt,’ writes Don Gossen of Nevermined. As IRS deadlines loom large, how can responsible investors avoid underreporting or overpaying?
Hong Kong may face backlog in virtual asset license applications as demand grows, former SFC regulator says
Angelina Kwan, who helped shape early Hong Kong automated trading services and internet trading regulation, told Forkast the upcoming virtual asset licensing regime is almost identical to that for traditional financial institutions.
How DAOs can be remade to be more efficient and successful
DAOs are exploding in popularity but still hampered by weak governance and treasury mismanagement. What can help these novel organizations become more effective?
Centralized intermediaries were cause of crypto failures in 2022, says Voorhees
If there was a lesson from the crypto implosions of 2022, it is the demonstration of the superiority of open code and decentralization over central intermediaries, argues Voorhees at DC Blockchain Summit.
Singapore to publish crypto, stablecoin consultation feedback by mid-2023
The Monetary Authority of Singapore (MAS) aims to publish cryptocurrency and stablecoin consultations feedback by the middle of this year, it said Monday.
Over 80 Web3 firms in line to set up shop in HK, ahead of crypto regulations taking effect in June
Over 80 foreign and Mainland China companies have expressed their interest in establishing a Web3 company in Hong Kong, ahead of new crypto regulations that will take effect from June
How NFTs can protect creators and fortify their legal rights
The digital era has made piracy rampant and copyright enforcement difficult, but blockchain technology is shifting power back to creators, writes Wes Levitt of Theta Labs.
Taiwan’s financial supervisory commission will oversee crypto, chair says
Crypto in Taiwan remains largely unregulated, but lawmakers have requested the cabinet to appoint a regulator by May 16 to oversee all things crypto.
Bitcoin leads crypto rally as central banks promise liquidity to stem rising bank risk
Bitcoin briefly breached US$28,000 at the weekend in a bullish run extending into Monday morning in Asia amid worries about bank risk.
Weekly Market Wrap: Bitcoin rises above US$26,000, as ‘store of value’ narrative strengthens amid bank failures
As the U.S. banking system stared into the pit of bank runs and collapsing share prices, the authorities acted swiftly to try and pull everything back from the edge. However, Bitcoin seemed unperturbed. Is this what a safe haven looks like?
Web3 crowdfunding launchpad Poolz Finance hacked for US$390,000 on BSC, Polygon
Poolz Finance, a cross-chain crowdfunding launchpad for Web3 projects, has been exploited for US$390,000 worth of digital assets
Circle’s USDC bounces back after Silicon Valley Bank bust
Top blockchain and crypto news: USDC stabilizes after SVB collapse. Silvergate closes shop. China tightens financial supervision.
Anchorage Digital lays off 20% of staff amid low NFT demand, says bank unit not affected
Digital asset platform Anchorage Digital will lay off 75 employees as it restructures to meet regulation challenges.
Binance suspends pound sterling services for U.K. customers as payment provider backs out
Binance, the world’s largest cryptocurrency exchange, announced that it is halting its British pound deposits and withdrawals.
India imposes money laundering regulations on crypto industry
India’s crime fighting agencies have been investigating crypto exchanges and individuals on money laundering charges and have now put the onus on exchanges to report suspicious transactions.
Circle’s Disparte speaks on de-risking crypto from banking risks
The recent U.S. banks fallout is a stress test for both traditional finance and digital assets but to weather the storm side by side is a powerful opportunity, says Circle Chief Strategy Officer Dante Disparte.
The NFT sector is just getting started. Here’s what lies ahead
What began as novel collectibles and rampant speculation is maturing into real-world utility across a multitude of industries, writes Tom Chalmers of Banxa.
Beware the perils of one-size-fits-all approach to crypto investing
The collapse of Voyager and Celsius highlights the risks of crypto investing apps and underscores the need for tailored user education, writes Jackson Zeng of Caleb & Brown.
Solana NFT sales surge as traders farm for Tensor rewards
The Forkast SOL NFT Composite dropped 6.13% over the past week while sales increased. Industry expert suspects casino-like behavior of traders moving funds to new projects.
Bet on the Black? Take a punt on the Red? Or maybe put it all down on an NFT?
Savvy traders are quick to extract liquidity to reinvest into the “slot machines” of the NFT casino, according to CryptoSlam’s NFT strategist.
Bitcoin, Ether, Forkast 500 NFT index close lower on the day
Bitcoin and Ether tumbled during Asia trading hours on Friday afternoon, with Dogecoin leading losses among the top 10 largest non-stablecoin cryptocurrencies by market capitalization, pressured by crypto bank Silvergate’s liquidation
Forkast 500 NFT Index slides, Polygon blockchain NFT sales jump nearly 250%
The Forkast 500 NFT Index fell to a near two-month low in Asia trading on Friday morning, with sales slumping on the Ethereum and Solana blockchains, the two biggest for non-fungible tokens. Polygon, the third biggest, saw a sales surge.
Most of NFT industry working on recycled liquidity, says Forkast Labs’ co-founder
NFT sales and market capitalization show rising investor activities, but recycled liquidity and wash trading may tell a different story, Forkast Labs co-CEO says.
China’s parliament member to propose NFT regulation at ‘Two Sessions’
NFTs have entered China’s Two Sessions, with a delegate to propose an NFT regulatory framework.
Silvergate teeters as regulators circle and crypto firms cut ties
Top blockchain and crypto news: Silvergate woes spark bankruptcy talk. LDO dips on false enforcement rumors. Chinese leaders push digital development.
Forkast 500 NFT index slips, BAYC NFTs leads in sales volume
The Forkast NFT 500 Index slipped 0.68% to 4,276.12 in the 24 hours through 4:45 p.m. in Hong Kong on Wednesday.
Forkast 500 NFT index edges up, Animoca Brands’ NFT collection leads in sales
The Forkast NFT 500 Index inched up 0.07% to 4,278.68 in the 24 hours through 9 a.m. in Hong Kong on Wednesday.
China’s WeChat social media giant integrates digital yuan into payment platform
WeChat, China’s leading social networking and payment app, has integrated the digital yuan into its payment network, which may help adoption of the CBDC.
What Web3 must do if it wants to attract 1 billion users
Web3 is growing more rapidly than the early internet, writes Ken Timsit of Cronos Labs. But to achieve mainstream success, the following issues must be addressed.
Ethereum core developers delay Shanghai hard fork to early April
The expected launch of the Shanghai hard fork has been delayed from late March to the first two weeks of April, according to Ethereum developers on Thursday.
Where is China’s digital economy heading? The ‘Two Sessions’ may give some pointers
Look for blockchain, self-reliance in technology discussions in China’s biggest political meetings of the year as China’s President Xi Jinping’s aims to build a digital economy.
Australia’s central bank identifies CBDC use cases as it prepares pilot launch
Australia has outlined potential use cases and providers for a central bank digital currency (CBDC), with a pilot program to be launched in the coming months.