Elon Musk’s NFT rocket launch. What has he done to Milady?
NFTs were ready for takeoff this week and Elon Musk’s tweet blasted it off.
Largest banks should fill crypto void after lender failures, says Standard Chartered’s Geoff Kendrick
In the final installment of a three-part interview series, Geoff Kendrick, head of crypto research at Standard Chartered Bank, outlines the lender’s approach to crypto and why he thinks exploration of blockchain use cases is just beginning.
Bitget crypto exchange still hiring, eyes Hong Kong license, to rebrand BitKeep wallet
Seychelles-based cryptocurrency exchange Bitget expects more clarity on Hong Kong’s licensing regime from June as the city pushes ahead with plans to attract blockchain and cryptocurrency entrepreneurs.
Investment giant Franklin Templeton connects US$270 million fund to Polygon network
Franklin Templeton said Wednesday that its OnChain U.S. Government Money Fund is now supported on the Polygon network.
From billionaire to Montenegro jail: The rapid rise and fall of Terra chief Do Kwon
South Korea’s Do Kwon went from a poster boy of digital finance as a co-founder of the US$40 billion Singapore-based Terraform Labs to a fugitive on Interpol’s wanted list, all in a matter of several rollercoaster years. He’s now in a Montenegro jail where he may face more time in detention as the U.S. and South Korea demand his extradition to face a long list of charges, including securities fraud – allegations he has repeatedly denied. The following is a timeline of how we got here.
Ethereum inflows slow following Shanghai upgrade, exchanges see Ether influx
CoinShares data showed Ethereum-linked products saw little investment interest with inflows of around US$300,000 in the week ending April 14, accounting for a tiny portion of the total US$114 million weekly inflow into digital assets and despite the blockchain’s milestone upgrade last week.
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.’
Binance faces legal battle as US regulator gets ready to rumble
Top blockchain and crypto news: Binance targeted in CFTC lawsuit. Law catches up with Do Kwon. Chinese banks bet on Hong Kong crypto.
Circle’s USDC stablecoin regains parity as regulators act to stop bank run risk
Circle said its $3.3 billion of USDC cash reserves at the collapsed Silicon Valley Bank will be available Monday after regulators stepped in to backstop deposits.
Blur NFT wash trading soars, fueling market distortions
Top blockchain and crypto news: Blur wash trading explodes. Coinbase extends developer foray with Base test. Hong Kong crypto embrace gets Beijing’s nod.
Visa not slowing down with crypto plans, says its crypto chief
American payments giant Visa is not slowing down its cryptocurrency plans despite last year’s bear market, according to the firm’s crypto head Cuy Sheffield.
Binance, Ingenico begin crypto payments in France
Binance, the world’s largest cryptocurrency exchange, has partnered France-based global payments giant Ingenico to offer in-store crypto payments in France using Binance Pay.
North Korean hackers move 41,000 ETH stolen from Harmony Bridge attack
The Lazarus Group, a North Korean cybercrime organization, has transferred 41,000 Ether (US$63.9 million) stolen from the 2022 Harmony bridge hack onto cryptocurrency exchanges Binance, OKX and Huobi, according to blockchain data shared by Twitter sleuth ZachXBT.
What does the future hold for digital assets in 2023?
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.
Digital Currency Group in spotlight over suspicious fund transfers
Top blockchain and crypto news: DCG under investigation. Lido DAO surges as Ethereum’s Shanghai upgrade looms. Hong Kong burnishes crypto credentials.
FTX founder Sam Bankman-Fried allegedly cashes out US$684,000, on-chain data show
On-chain data showed that Sam Bankman-Fried, the founder of the now-bankrupt FTX exchange, sent around 570 Ether worth US$684,000 to a Seychelles-based exchange and Ren Protocol’s Bitcoin bridge on Wednesday
A series of events: Crypto’s 2022 timeline
Cryptocurrencies had a turbulent 2022 to say the least. Blockchain technology made progress but that failed to offset the multiple bankruptcies and hacks that plagued the industry through the year.
Binance acquires Indonesian crypto exchange Tokocrypto
Binance, the world’s largest cryptocurrency exchange, has acquired Indonesia-based crypto exchange Tokocrypto, according to a CNBC report
Sam Bankman-Fried in Bahamas police custody, faces criminal charges in U.S.
Top blockchain and crypto news: SBF denied bail, US extradition likely next. The Block chief quits over secret FTX loans. Hong Kong readies digital asset rules.
Grayscale holdings questioned amid crypto investment giant’s silence
Top blockchain and crypto news: Grayscale’s cryptic reserves. Binance rides to the rescue? China hit by protests and digital dissent.
Question: How do financial rules work when rogue individuals run companies? Answer: Not very well.
Calls for tougher rules on cryptocurrency have been echoing ever louder through the offices of global financial regulators since the collapse of the FTX exchange. But the firm did not invent dodgy business practices, so what can regulators and the industry do?
Genesis jitters keep investors on edge as contagion risks grow
Top blockchain and crypto news: Fear stalks crypto as Genesis wobbles. FTX cleanup begins. China’s NFT scene shrinks.
Crypto exchanges see record-high week of BTC outflows, following FTX saga
Bitcoin outflows from centralized crypto exchanges rose to a historic high this week, as investors turned to self-custody options following the collapse of FTX.
FTX collapse leaves investors jittery over crypto contagion
Top blockchain and crypto news: FTX fallout spooks sector. Crypto.com’s $400 million ‘accident.’ Hong Kong’s new digital asset drive.
Crypto prices slide as investors pull funds on concerns other exchanges may follow FTX implosion
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?
Ark Invest swoops in to buy US$21.4 mln in Coinbase shares
Cathie Wood’s Ark Invest seized the opportunity provided by Wednesday’s market downturn to snatch a considerable chunk of Coinbase stock.
Binance set to swallow FTX as run on exchange allows CZ to swoop
Top blockchain and crypto news: FTX concedes defeat in long battle with Binance. Crypto eyes Congress races. Hong Kong U-turns on digital assets.
Hong Kong announces policies to win back role as digital asset hub
Hong Kong reveals digital asset policies to distinguish itself from China, where cryptocurrency trading was banned in September last year.
Visa’s trademark filings hint at launch of crypto wallet
Visa International Service Association on Oct. 22 filed two trademark applications that hinted at plans of launching a crypto wallet.
Hong Kong set to relaunch itself as digital asset hub with revamped policies
When China banned cryptocurrency trading and mining in September 2021, it was feared that policy would make its way into Hong Kong. Seems that concern is getting a rethink.
Aptos debut underwhelms amid questions over design and performance
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?
Gold commodities market could enter the blockchain, according to new industry initiative
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” […]
Coin Center files lawsuit over Tornado Cash sanctions, defends crypto privacy rights
Coin Center, a non-profit think tank on cryptocurrencies and public policy, announced Wednesday it was filing a lawsuit against the U.S. Treasury Department’s Office of Foreign Asset Control (OFAC), alleging the agency overreached its authority when it sanctioned cryptocurrency mixer Tornado Cash in August. See related article: What is the future for cryptocurrency mixers after […]
What’s next for Binance after $100 million BNB hack?
Top blockchain and crypto news: Binance puts brakes on BNB Chain theft. Will quantum computing kill crypto? Huobi sells up.
What is the future for cryptocurrency mixers after U.S. sanctions on Tornado Cash?
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.
Ripple Labs joins blockchain carbon credit partnership
Ripple Labs Inc., the firm whose payment network is powered by the self-described carbon-neutral cryptocurrency token XRP, has partnered with Web3 climate startup Thallo and various other companies to build a carbon credit market on the blockchain. See related article: SEC opposes motions from two firms seeking to back Ripple in XRP lawsuit Fast facts […]
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.
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.
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?
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?
Fed’s inflation fight batters crypto market as pressure mounts
Top blockchain and crypto news: Is crypto in for a long cold spell? Ava Labs lashes out at CryptoLeaks claims. China eyes blockchain power trading.
Tornado Cash arrest heralds storm season for crypto mixers
Top blockchain and crypto news: Tornado Cash, mixer crash. Cardano’s Vasil vulnerabilities. Canaan earnings buoy expansion plans.
USDC whales leave, trading volume soars
The percentage of stablecoin USD Coin (USDC) supply held by the top 1% addresses dropped to a 22-month low on Monday, while USDC average trading volume in seven days surged to an all-time high on the same day, according to crypto data dashboard Glassnode. See related article: Vitalik Buterin says he used Tornado Cash to […]
Coinbase would shut down ETH staking under regulatory threat, says CEO
Responding to a hypothetical scenario on Twitter, Coinbase CEO Brian Armstrong said that the company would shut down its Ethereum staking services to preserve the blockchain network’s integrity, in the event of a regulatory crackdown. See related article: BlackRock, Coinbase partner to extend crypto trading to institutional investors Fast facts The hypothetical question was posted […]
Eqonex closes crypto exchange as market woes prompt cost-cutting
Top blockchain and crypto news: Eqonex shutters exchange operation. Huobi denies sale report. Taiwan beefs up cyber defenses.
Australia’s Holon Global got ahead of BlackRock with funds shrugging off crypto winter
Australia’s retirement fund industry, the world’s fifth largest at US$2.3 trillion, is one future target for investment funds offering cryptocurrencies.
Why crypto firms should embrace regulations and compliance
Regulatory compliance will be critical to improving crypto’s ‘Wild West’ image and public acceptance, writes Karen Er and Benjamin Bai of Amber Group. Here’s why.
Ethereum Merge may be ahead of schedule
Ethereum’s long-awaited transition to proof-of-stake (PoS) — known as “the Merge” — could be running ahead of schedule to occur on Sept. 15 or 16, according to Ethereum educator and cybersecurity professional Anthony Sassano. See related article: Ethereum will soon turn 7 — and its upcoming ‘Merge’ will be well worth the wait Fast facts […]
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.
Digital dollar push; Tornado Cash blacklisted
Welcome to The Daily Forkast – August 9, 2022 – presented by Angie Lau. Coming up on today’s show: US lawmakers aim to push Fed on digital dollar. Circle freezes smart contract addresses linked to blacklisted Tornado Cash. Also, Hodlnaut freezes withdrawals, swaps and deposits. Zipmex to release specific amounts of Bitcoin and Ether. And […]
Ex-PwC crypto head sets up digital asset fund in Dubai: report
Former PwC crypto arm leader Henri Arslanian said in a report the digital asset fund Nine Blocks Capital Management will receive $75 million from major supporters, including Hong Kong-based hedge fund Nine Masts Capital. See related article: Dubai scorches crypto winter with plans to support 40,000 ‘virtual jobs’ Fast facts See related article: India’s WazirX […]
Filecoin on a tear as cautious optimism returns to crypto markets
Top blockchain and crypto news: Filecoin leads in market uptick. CryptoPunks in new glow as Tiffany jewelry. Chinese firms flock to Singapore.
Prominent Chinese ETH miner plans proof-of-work fork amid The Merge
Ahead of Ethereum’s upcoming “Merge,” prominent Chinese crypto miner Chandler Guo has indicated he wishes to fork Ethereum to maintain a version of the network that remains proof of work (PoW), according to a report by Decrypt. See related article: Ethereum will soon turn 7 — and its upcoming ‘Merge’ will be well worth the […]
FTX proposes buying out Voyager assets and loans except for 3AC to provide early liquidity to customers
Crypto exchange FTX launched a joint offer with West Realm Shires, which runs FTX.US, and Alameda Ventures, on Friday, which would allow bankrupt crypto lender Voyager Digital customers to get their hands on their bankruptcy claims in advance. See related article: Voyager crypto refund plan unconfirmed; fiat to be returned in full Fast facts Regarding […]
Vitalik Buterin says Ethereum to be 55% complete post-merge
Ethereum co-founder Vitalik Buterin said on Thursday that Ethereum will be about 55% complete after the “merge,” when the network moves from proof-of-work (PoW) to a proof-of-stake (PoS) consensus system. See related article: Eth2 merger closer as ninth shadow fork goes live Fast facts “Proof of stake is much more secure than proof of work, […]
Celsius bankruptcy deepens chill over crypto sector
Top blockchain and crypto news: Celsius plunges into Chapter 11. Otherside’s promised land. Mixed picture for Chinese NFTs.
Circle says customers could redeem all of USDC in one day
In an exclusive interview with Forkast Editor-in-Chief Angie Lau, Circle Chief Financial Officer Jeremy Fox-Geen said reserves backing the so-called USDC stablecoin are ring-fenced from any potential fallout from the contagion engulfing crypto markets.
Crypto winter ushers in account freezes as platforms feel the chill
Top blockchain and crypto news: Investors snowed in as liquidity crunch hits. Solend harpoons anti-whale maneuver. Chinese NFTs prove a tricky target.
CEL down over 50% since Celsius Network’s withdrawal freeze
CEL has dropped 53.1% over the past 24 hours and was trading at US$0.20, at press time, according to CoinGecko. Fast facts Crypto staking and lending platform Celsius Network paused user withdrawals, swaps, and transfers on Monday, citing “extreme market conditions,” driving its native token to shed more than half of its value. The lending […]
Hong Kong says NFTs on certain assets may class as regulated securities
Non-fungible tokens (NFTs) can be regulated if they represent similar characteristics to securities, particularly in the category of “collective investment schemes,” Hong Kong’s Securities and Futures Commission (SFC) said on Monday. See related article: Hong Kong retail investors blocked from Bitcoin spot ETFs Fast facts See related article: Hong Kong to propose bill to license […]
What does the new Australian Labor government mean for the crypto industry?
Changes in government don’t come about too often in Australia, so there’s always plenty to unpack when it does, including what’s in store for investors in the world of cryptocurrency.
Tether USDT shaken by stablecoin market storm
Top blockchain and crypto news: Billions cut ties with Tether. Are Terra’s UST troubles just beginning? China’s miners stay one step ahead.
Blood moon: Terra’s LUNA rescue plan panned by industry, investors
Top blockchain and crypto news: Terra puts down the fork. Bitcoin loses its shine in Singapore. China’s miners dig in.
Gimme shelter: Crypto companies head offshore as they hanker for regulation
A developmental shift in the cryptocurrency industry is ushering in geographical shifts among crypto companies, with a number of businesses abandoning locations once hailed as crypto hubs in favor of jurisdictions with regulatory regimes more to their liking. Forkast sat down with two of the crypto industry’s rainmakers who are among those spearheading this trend […]
UST loses dollar peg as Terra market cap slumps
Terra’s dollar-pegged stablecoin, terraUSD (UST), “depegged” for the second time this week, dropping to as low as US$0.6841 in Tuesday morning trading in Asia, according to CoinMarketCap. It has since recovered slightly. See related article: What are stablecoins, and why are some governments so afraid of them? Fast facts Terra’s price also dropped by over […]
Otherdeeds NFT sale puts Ethereum scalability in glaring spotlight
Top blockchain and crypto news: Otherdeeds debacle stings with gas fee spike. Algorand scores World Cup deal. Will China be forced to embrace Bitcoin?
Another crypto firm leaves Singapore; South Korean secrets sold for crypto
Another crypto exchanges moves out of Singapore into Dubai. Meanwhile, two South Koreans have been charged for treason.
Elon Musk is buying Twitter to colonize our headspace and send his pet DOGE to the moon
Elon Musk’s Twitter takeover isn’t really about free speech, writes Ben Armstrong, aka BitBoy Crypto. It’s an attempt to push you out of Bitcoin and sell your data.
World Bank rescue package throws lifeline to crypto markets
Top blockchain and crypto news: Crisis response brings crypto relief. North Korea’s Lazarus Group named in Ronin hack. NFTs face new risks in China.
Will London be Europe’s next crypto capital?
Top blockchain and cryptocurrency news: Britain’s crypto gamble. WAVES crashing. China’s big digital yuan push.
The Rise and Rise of NFTs | Interview with Charles d’Haussy
Growth drivers of the NFT ecosystem The growing popularity of NFTs is stunning, having risen from several hundred million dollars in sales when the market first started, to around US$20 billion in 2021. We believe the exponential growth seen around the world can be explained by the product-market fit: NFTs have effectively provided a bridge […]
Echoes of El Salvador as Malaysian minister calls for crypto adoption
Top blockchain and crypto news: Bitcoin buzz in Malaysia. Yuga Labs teases Otherside. Blockchain verdict in China.