Search results: dollar

Circle, the issuer of U.S. dollar-pegged stablecoin USDC, has said that stronger competition in the stablecoin market is likely to pressure Circle stablecoins, thereby slowing its growth and weighing on the financial outlook of the company. 

The number of creditors with claims on the collapsed FTX cryptocurrency exchange and its affiliates may run into the hundreds of thousands and possibly more than 1 million.

What to do when one of the world’s most trusted crypto exchanges implodes? For many it’s finding a safer place for their assets, and that is typically hardware wallets.

Panelists at Forkast’s livestreamed event ‘Crypto Rising: How Top VCs Are Investing Out of Crypto Winter’ shared their thoughts on the future of the industry following FTX.

Unlike the 2008 crash, the government won’t be bailing out FTX’s investors, writes Nick Saponaro of Divi Labs. Will regulators see this as a cue to crack down on exchanges?

Exchanges to the rescue? Cash is reportedly being made available to help blockchain and crypto projects caught in the fallout of the FTX exchange collapse.

The chief executive of Crypto.com, said the exchange’s exposure to FTX when it shut was under US$10 million.

The collapse of one of the world’s biggest crypto exchanges last week has investors worried about the finances of other trading platforms. Cold wallet time?

Crypto exchanges and lending platforms are starting to use the dreaded F word for Freeze amid worries about the possible collapse of FTX.com, part of one of the world’s biggest cryptocurrency trading networks.

Bitcoin rose on Friday in Asia along with Ether and most other major tokens, reversing  a three-day slump as the Consumer Price Index (CPI) released Thursday showed inflation in the U.S. slowed in October.

Binance cites due diligence on FTX books for pulling out of a deal to buy FTX.com, sending markets into a tailspin and leaving Bankman-Fried in need of another buyer… fast.

Just over 24 hours after news of Binance’s planned acquisition of FTX shook the crypto market, a reversal of that decision sent prices even lower.

The following is a running compilation of views and comments on Binance’s announcement that it will not go ahead with the acquisition of FTX.com.

Top blockchain and crypto news: FTX concedes defeat in long battle with Binance. Crypto eyes Congress races. Hong Kong U-turns on digital assets.

Bitcoin recovered slightly in Wednesday afternoon trading in Asia after hitting a year-low of US$17,604 this morning amid news of Binance’s takeover of the FTX exchange following speculation of solvency issues at FTX, although several coins extended their declines.

Binance chief executive officer Changpeng Zhao already runs the world’s largest cryptocurrency exchange so just what are his ambitions?

Bitcoin fell to a year’s low of US$17,603 in Tuesday morning trading in Asia as Binance Global Inc.’s takeover of the FTX exchange unnerved investors.

In a period of toxic divide between the Democrats and Republicans, the need to figure out how to regulate the growing cryptocurrency industry is one of the few issues both parties seem to agree on.

Central bank digital currencies draw fire over inflation, privacy and threat to innovation, as questions raised over status of stablecoins in digital asset ecosystem.

Bitcoin and Ether dropped in afternoon trading in Asia along with almost every other top 10 cryptocurrency by market capitalization, excluding stablecoins. MATIC was the only coin to gain.

Hong Kong’s latest FinTech policies indicate it wants to reclaim its position as a hub for cryptocurrencies and digital assets, but that means finding the right people for the job.

London-headquartered banking giant Standard Chartered announced on Thursday that it had invested in the blockchain-based interbank settlement platform Partior, a joint venture of JP Morgan, DBS bank and Temasek.

Top blockchain and crypto news: Hong Kong rethinks digital assets. CBDC to debut in India. China’s e-yuan privacy problem.

Singapore-based StraitsX, a payments infrastructure for digital assets, will pilot stablecoin applications at the ongoing Singapore Fintech Festival. 

DBS, the largest bank in Southeast Asia, said it tested trading of foreign exchange and government bonds using permissioned decentralized finance (DeFi) liquidity pools on a public blockchain as part of the city-state’s Project Guardian exploration of blockchain in finance.

The bank is in the center of developments shepherded by the Monetary Authority of Singapore to explore digital financial technologies emerging around blockchain.

The issuer of the world’s second-largest stablecoin is joining a fleet of companies in the digital asset industry moving into Singapore. What’s the attraction?

A hybrid middle ground between Web 2.0 and Web 3.0 is necessary before full Web 3.0 integration, argued Jehan Chu, co-founder and managing partner of blockchain venture capital firm Kenetic Capital, adding that “it’s not the fully decentralized future we were promised, but it’s the one we’re going to get first.”

Hong Kong reveals digital asset policies to distinguish itself from China, where cryptocurrency trading was banned in September last year.

A hearing is scheduled in Singapore on a lawsuit filed against Terraform Labs’ Do Kwon on behalf of investors who lost about US$57 million in the collapse of Terra-LUNA.

Crypto exchange Huobi Global will delist its stablecoin HUSD on Friday, refund holders 1:1 with USDT.

Pixelated pictures and cartoonish drawings have typically dominated the world of Non-Fungible Tokens (NFTs), but some exhibits at Hong Kong’s Xperience art fair show new means of applying the technology.

A stablecoin that is not stable is an ‘oxymoron,’ said Henry Chang, CEO of South Korea-based blockchain game developer Wemade.

Top blockchain and crypto news: Aptos launch falls short. Why FTX chief is calling for crypto regulations. Is Hong Kong paving way for a retail CBDC?

Cryptocurrency exchange FTX will reimburse US$6 million lost by users in a phishing attack over the weekend, according to founder Sam Bankman-Fried.

A lack of regulations means anyone can say bad things about crypto to stir up fear — and push you to sell. Even if they stand to make money from your losses.

Institutional adoption of Web3 in finance means getting traditional banks involved, which will in turn reshape the way banks work, says SC Ventures’ Alex Manson.

Why has Ripple Labs been in the U.S. SEC’s crosshairs and what’s the difference between Ripple and XRP?

South Africa’s financial markets regulator has declared crypto assets as a financial product, setting the legal grounds to bring cryptocurrencies under regulatory purview. See related article: Nigeria to become 1st African country to launch a central bank digital currency Fast facts Crypto is not issued by a central bank but can be traded, transferred and […]

In a Q&A with Forkast, First Digital Trust Chief Executive Officer Vincent Chok shared his views on Hong Kong getting back into crypto, regulations, and how the crypto pie in Asia is big enough for rivals Singapore and Hong Kong.

Top blockchain and crypto news: Mark Zuckerberg’s empty metaverse. South Korea to roll out blockchain IDs. Macau bets on digital money.

German crypto bank Nuri (formerly known as Bitwala) has asked customers to withdraw their funds by Dec. 18 so that the “business can be terminated and liquidated.”

Bitcoin and Ether rose as all top 10 tokens by market capitalization, excluding stablecoins, gained in Tuesday morning trading in Asia. Polygon led the list. Solana followed on news a leading non-fungible token (NFT) marketplace will suspend transaction fees. See related article: Gold commodities market could enter the blockchain, according to new industry initiative Fast […]

A partnership between the World Gold Council (WGC) and Swiss-based DLT infrastructure and application provider aXedras Group could make gold trading more accessible and streamlined, though insiders are skeptical, according to a Bloomberg report Sunday.  See related article: Diamond Standard raises US$30 mln to ramp up tokenized asset distribution Fast facts The WGC’s initiative “Gold247” […]

The market may be in the doldrums, but there’s no better time to clean house and build for the future, writes Clayton Roche of UMA. Here are 5 areas of opportunity.

Tether, issuer of the world’s largest stablecoin, said in a blog post it has cut its commercial paper holdings to zero and replaced them with U.S. Treasury bills. See related article: Are stablecoins like Tether ready for regulatory scrutiny?  Fast facts See related article: SEC fines former Tether auditor over accounting malpractice 

‘Risky or illicit’ transactions represent the highest rate of any region measured by the blockchain analytics firm.

Tornado Cash, the Ethereum coin mixer slapped with sanctions by the U.S. Treasury back in August, has returned to the software hosting website GitHub amid a flurry of lawsuits against the Treasury for its action.

Bitcoin fell but held above US$19,000 in Wednesday morning trading in Asia as the world’s leading cryptocurrency continued its month-long dalliance with that support level. Excluding stablecoins, most of the top ten cryptocurrencies by market capitalization fell, led by Solana. Dogecoin was the only token on the list to gain ground. See related article: BNB […]

Emerging markets dominated the 2022 Global Crypto Adoption Index, with Latin America second in transaction volume growth.

The world’s largest crypto exchange’s regional head of Asia says the Philippines’ GameFi community and rampant inflation in Turkey present opportunities for Binance.

A woman in Melbourne, Australia pleaded guilty on Wednesday to her role in stealing millions of dollars from superannuation (retirement) funds and stock portfolios before laundering the proceeds via Hong Kong through the purchase of cryptocurrency and diamonds, as reported by The Age newspaper. See related article: Australian superannuation and institutions await clarity to invest […]

Top blockchain and crypto news: Celsius founder in hot water. European bank woes cast crypto shadow. Will BSN’s Chinese roots thwart its global ambitions?

Taiwanese laptop maker Asus has launched a non-fungible token (NFT) platform, marking its first attempt to venture into the burgeoning Web 3.0 industry, the company announced on Tuesday.  See related article: Apple iPhone maker’s founder distances himself from crypto fraudsters using his image Fast facts Asus launched Art Black hole on Tuesday, a platform for […]

Tether Holdings Limited, the issuer behind the world’s largest stablecoin USDT, reduced its holdings of commercial paper to less than US$50 million as of Sept. 30, according to a tweet by Tether Chief Technology Officer Paulo Ardoino. See related article: SEC fines Tether’s former auditor US$1 mln over accounting malpractice Fast facts In the tweet, Ardoino also […]

China spent billions on its ‘belt and road’ infrastructure network to expand trade so what are its plans for a domestic and international digital infrastructure built on blockchain?

Like many nations, the UK is formulating new rules and guidelines for crypto taxation. Will they help or hinder its crypto hub aspirations?

As the crypto slump drives job cuts and worse, some exchanges are seeing opportunity for expansion in the downturn, call it the fortune-favors-the-brave mantra.

The director of Hong Kong’s de facto central bank, the Hong Kong Monetary Authority (HKMA), Eddie Yue Wai-Man, said the HKMA will launch a series of trials of its central bank digital currency (CBDC) in testing, the e-HKD, in the fourth quarter this year with banks and technology firms. See related article: Hong Kong needs […]

In the first of a two-part report on this year’s cryptocurrency gathering in Singapore, defiance outshone defeatism despite industry’s struggles.

Terraform Labs Pte. Ltd., the firm behind the collapse of the Terra-LUNA stablecoin project said South Korean prosecutors’ measures in pursuing its chief executive officer Do Kwon violate his basic rights under Korean law.

Circle Internet Financial, Inc., the global financial technology company behind the USD Coin (USDC) stablecoin, will soon be making the token available on five additional blockchains, Chief Product Officer Nikhil Chandhok said on Wednesday at the company’s Converge22 conference.  See related article: U.S. Fed has growing interest in CBDCs, says Jeng at Crypto Council for […]

The Terra UST disaster is spurring regulators to converge on global stablecoin standards, writes Michael Shing of XREX. But major issuers still fall short.

Top blockchain and crypto news: Digital dollar didgeridoos. Bitcoin softens as sterling sinks. ‘World’s dumbest’ crypto criminals nabbed in China.

What if you could hit the undo button on an Ethereum blockchain transaction after discovering you’ve been scammed?

The man behind Terra-LUNA contradicts the basis of the new action South Korean authorities took to corner and locate him.

Chinese authorities can track e-CNY wallet transaction history, if warranted, thanks to its ‘managed anonymity’ design.

Terra Classic (LUNC), the original crypto token of the Terra-LUNA blockchain that collapsed back in May, gained over 50% on Tuesday following an announcement by Binance, the world’s largest crypto exchange by volume, that it would support a burn mechanism for the network. See related article: For South Korea, making Do Kwon pay for his […]

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?

Chinese police said they have busted a criminal group that used cryptocurrencies to launder 40 billion yuan (US$5.6 billion) as authorities crack down on illicit fund flows in the country. See related article: China lashes out at crypto fraud on World Consumer Rights Day Fast facts Police in Hengyang, a county in China’s southern province […]

The Reserve Bank of Australia (RBA) on Monday published a whitepaper on its central bank digital currency (CBDC), or “eAUD,” pilot project that will start in January 2023 and has invited industry participants to submit use cases with economic and social benefits. See related article: World Economic Forum argues for CBDCs, Australia latest to test […]

Bitcoin traded below the US$19,000 mark in early Monday trading in Asia after fluctuating around the resistance level all week. Ethereum and most other tokens in the cryptocurrency top 10 by market capitalization lost ground. XRP once again defied broader market forces and was up on the day. See related article: Markets: XRP soars 23%, […]