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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.

Crypto scams accounted for over half of Hong Kong’s losses from computer-related crimes in 2022.

With 69% of Bitcoin supply in profit, BTC is struggling to stay above the US$22,300 support level. A daily close below US$22,300 could see Bitcoin retest the US$21,450 support level. Industry experts share their end-of-March Bitcoin price predictions with Forkast.

Cryptocurrencies across the market took a hit this week despite performing well over the past year.

Bitcoin and Ether prices slumped in Friday morning trading in Asia, along with all other top 10 non-stablecoin cryptocurrencies.

DBS bank’s digital exchange, which serves institutional clients, said macroeconomic conditions last year were not suitable for security token offerings (STO), but it will explore opportunities for such listings in 2023 and plans to add more crypto tokens.

Less than two months since the launch of the Ordinals protocol, Bitcoin Ordinals are gaining traction. Yuga Labs announced its first Bitcoin-native NFT collection, on the same day Bitcoin Punks saw over 1,145 ETH in trading volume. Industry commentators told Forkast what this could be for the Bitcoin network.

Top blockchain and crypto news: Blur wash trading explodes. Coinbase extends developer foray with Base test. Hong Kong crypto embrace gets Beijing’s nod.

Officials at Bitcoin mining companies say the rebound in prices so far this year for the world’s biggest cryptocurrency has thrown a lifeline to the industry after some miners sought protection from creditors last year amid the slump in the token’s price.

Coinbase, the world’s second largest cryptocurrency exchange, said Monday it is suspending trade in the Binance USD (BUSD) as of March 13.

Yuzo Kano, co-founder of Japan’s largest cryptocurrency exchange bitFlyer Inc., said he plans to return as CEO, sell shares to public.

Now a teenager, crypto is wrestling with its identity and purpose. But it’s learning from its mistakes and on its way to maturity, writes Zach Bronstein of Endaoment.

Crypto industry’s interaction with regulators is important and quite common in Asia but missing in the US, says Brooks Entwistle of Ripple Labs.

Bitcoin remained resilient around the US$24,000 level on Tuesday despite Wall Street’s worst day of the year so far. Industry experts are eyeing a potential retest of the US$25,000 psychological level, as a failure to reclaim it may result in a downtrend to around US$21,500.

Cryptocurrency companies in Canada have 30 days to meet updated crypto registration guidelines released on Wednesday or risk losing their users.

Amid the rubble of FTX and other centralized exchanges, cross-chain technology and on-chain trading offer more trustworthy alternatives, writes Simon Harman of Chainflip.

Hong Kong’s proposed crypto licensing regime received Huobi Global’s pledge to return to the city, and more companies may follow, industry experts told Forkast.

The cryptocurrency industry this week reacted to the recent moves by U.S. authorities against Kraken and Paxos. Meanwhile, India has been calling for a collaborative approach to crypto regulations.

Bitcoin briefly climbed above US$25,000 for the first time since August 2021, before declining to US$23,764 after its first weekly “death cross.” Investors liquidated over US$70 million worth of Bitcoin short positions in the past 24 hours, according to data aggregator GlassNode, contributing to BTC’s rally.

Japan will start a pilot programme to test the use of a digital yen in April, joining a growing number of countries seeking to launch their own CBDCs.

Blur.io, the NFT marketplace that beat OpenSea’s trading volume in the past month, airdropped its platform tokens on Valentine’s Day, contributing to the global NFT sales increase this week.

Top blockchain and crypto news: Paxos halts BUSD issuance. Kraken faces disclosure charges. Beijing backs new blockchain research center.

Bitcoin and Ether prices strengthened in Wednesday afternoon trade, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Cardano led gains at 6.91%, followed by Dogecoin at 5.21%, though prices of top 10 tokens remain subdued on the week.  

The cryptocurrency industry faced criticism during a Senate committee meeting on Tuesday entitled “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets.”

Bitcoin rose in Wednesday morning trading in Asia to move back above US$22,000 as investors shrugged off a seeming U.S. regulatory crackdown on digital assets and data showing U.S. inflation for January was above forecasts.

As financial regulators around the world continue to crackdown on stablecoins, some are asking if they are overreaching their jurisdiction.

The current payment system relied on by truck drivers runs through third parties and adds costs to supply chains and consumers. Could blockchain tech provide an alternative, and would truckers trust it?

Last year was memorable in the emerging world of digital assets for the sheer number of corporate failures. The industry itself has been asking for clearer legal guidelines to help development. Is that what’s happening now?

The United Arab Emirates plans to launch a central bank digital currency (CBDC), among other initiatives, to become a financial and digital payment hub.

Tokenization, stablecoins and DeFi will be growth areas, but regulatory uncertainty is still holding back adoption, writes John Avery of FIS.

Bitcoin’s mining difficulty level edged down 0.5% in the two weeks through Sunday after hitting an all-time high in the previous adjustment, according to data from BTC.com.

The U.S. SEC may sue the Paxos Trust Company for allegedly violating investor protection laws in its issue of the Binance USD (BUSD) stablecoin.

After the strongest January price increase since 2013, Bitcoin gave up some of its gains this week to dip below the US$22,000 support line on Friday. The crypto market was buffeted by bearish comments on interest rates by U.S. Federal Reserve officials this week, along with concerns about a regulatory crackdown. Is this the start of a downtrend, a healthy correction, or the beginning of a so-called “crab” market moving sideways?

Top blockchain and crypto news: GOPAX deal sees Binance return to South Korea. Inflation fight spooks crypto markets. Chinese liquor giant gives cheers to NFTs.

Nearly three out of four institutional traders surveyed “have no plans to trade crypto,” while most see Artificial Intelligence as the next big disrupter.

Bitcoin climbed more than 39% in January to break through the US$23,000 resistance ceiling in its best monthly performance since October 2021. Can the world’s first and biggest cryptocurrency maintain the upward momentum? Industry commentators share their views with Forkast.

NFTs and DAOs can help support Japan’s national strategy dubbed ‘Cool Japan’ to attract investment and expand the economy.

The future global financial system will be reliant on the cloud, especially when it comes to CBDCs and stablecoins, writes Michael Greenwald and Logan Weber.

Djed, a Cardano-based algorithmic stablecoin, has collected over US$10 million in its reserves within the first 24 hours since it was launched on Wednesday.

Cryptocurrency exchanges in India had lobbied the government to reduce taxes introduced last year, arguing the levies were backfiring by driving local investment offshore.

Bitcoin prices broke back above US$23,000 in Wednesday morning trading in Asia.

The HKMA said in a consultation conclusion that algorithmic stablecoins will not be allowed in the city.

Bitcoin and Ethereum prices fell during Tuesday afternoon trading in Asia along with most other top 10 non-stablecoin cryptocurrencies. Dogecoin was the exception in that list as it rebounded from morning losses.

Laws to prevent another FTX blowup, crackdowns on crypto tax cheats, and a ruling on Ripple are likely imminent. A bull’s eye is also on DeFi, writes Gergo Varga of SEON.

Bitcoin’s mining difficulty level rose 4.68% on Sunday, hitting an all-time high, as the networks’ hashrate also continued to increase.

Bitcoin this week broke through the US$23,000 price ceiling for the first time since Aug. 2022. Can the benchmark cryptocurrency maintain its momentum? Industry commentators share their views with Forkast on what the market is telling investors and the signals from the U.S. Federal Reserve on interest rates.

Bitcoin was up and Ether was down by the end of Asian trading hours on Friday afternoon when most of the top coins fell slightly. Polygon’s MATIC saw the biggest gains among the top 10 non-stablecoin cryptocurrencies

Prosecutors raided the Bithumb crypto exchange on Thursday on allegations of price manipulation and fraudulent transactions in local tokens,

FTX’s implosion is spurring a regulatory scramble to rein in the crypto sector. But one influential US lawmaker may do more harm than good, writes Kadan Stadelmann, CTO of Komodo.

Bitcoin and Ethereum fell in Wednesday afternoon trading in Asia, as Solana and Cardano led losses among the other top 10 non-stablecoin cryptocurrencies by market capitalization.

Binance Holdings Ltd., the world’s largest cryptocurrency exchange, acknowledged it mistakenly stored customer funds in the same wallet holding collateral for its Binance-pegged tokens, known as B-Tokens

Regulators should not legitimize “purely speculative” activity in crypto markets following the collapse of FTX, said Monetary Authority of Singapore Chairmen.

The U.S. will open its first nuclear-powered data center offering Bitcoin mining in the first quarter of the year.

India-focused accelerator Graviton has announced an initiative to help Indian Web 3.0 start-ups get up to US$50,000 in funding

Bitcoin’s price has had its best weekly run up since February 2021 in the seven days through Jan. 18, but is that the start of a bull run or setting up the optimists for a sucker punch? Experts share their predictions with Forkast.

The Financial Crimes Enforcement Network (FinCEN), a bureau of the United States Department of the Treasury that combats financial crimes, has named Binance, the world’s largest cryptocurrency exchange, as one of the top three receiving counterparties of Bitzlato Ltd. 

Bitcoin and Ether rebounded Friday morning in Asia along with all of the top 10 non-stablecoin cryptocurrencies. Cardano and Ripple led the gains.

National Australia Bank, one of the four major banks in the country, has created a stablecoin AUDN for cross-border transactions and carbon credit trading, according to an Australian Financial Review report. 

Top blockchain and crypto news: SEC frowns on Genesis, Gemini. Solana soars. Will China tighten its embrace of WeChat Pay and Alipay to push its CBDC?

Caroline Pham, commissioner of the U.S. Commodity Futures Trading Commission (CFTC) commissioner, has urged regulators to develop clearer crypto industry standards.

The central bank rolled out a “red packet” feature for its digital currency, the e-CNY, for the Lunar New Year holiday but it will require help from the tech giants it has bashed to popularize the digital yuan.

NFTs, tokenization and blockchain-based cross-border payments will see big paradigm shifts, but their success will depend on regulation, investment and adoption, writes Stephen Richardson of Fireblocks.

Bitcoin and Ether gained in Monday afternoon trading in Asia, along with all other top 10 non-stablecoin cryptocurrencies.

The U.S. House of Representatives has created a new congressional subcommittee focused on digital assets, as one of its first moves under the control of the Republican Party.

Bitcoin and Ether prices jumped in Friday morning trading in Asia after the December U.S. Consumer Price Index released overnight rose 6.5%.

El Salvador has passed landmark legislation that establishes a legal framework for all cryptocurrencies to build on the country’s “first-mover advantage.”

Binance, the world’s largest cryptocurrency exchange by volume, is planning to increase staff by as much as 30% this year.

Immunefi founder Mitchell Amador believes the future security risks of CBDCs will highlight the benefits of DeFi.

Hong Kong has passed a new licensing regime on for crypto exchanges that will subject providers to the same legislation and rules as traditional finance.

Some 90% of user assets at WazirX, India’s largest crypto exchange by volume, are held in wallets at Binance while the remaining 10% are stored in hot and warm wallets, revealed WazirX’s proof of reserves that the company released on Wednesday.

Binance’s U.S. wing has received court approval to buy Voyager Digital’s crypto platform for US$20 million, as part of Voyager’s plan to liquidate in bankruptcy.

Top blockchain and crypto news: DCG under investigation. Lido DAO surges as Ethereum’s Shanghai upgrade looms. Hong Kong burnishes crypto credentials.