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Fidelity’s crypto arm wants to add Ethereum trading, plans hiring spree

Fidelity Digital Assets, the crypto-focused subsidiary of Fidelity Investments, has planned a hiring spree to extend services to include Ethereum trading and custody. See related article: Fidelity allows retirement investments in Bitcoin Fast facts Fidelity Digital Assets was founded in 2018 to enable institutional investors to store and trade Bitcoin — its parent company announced […]

Retail investors shouldn’t invest in crypto: Singapore’s deputy PM

Singapore’s Deputy Prime Minister Heng Swee Keat cautioned retail investors to steer clear of investments in cryptocurrencies, saying the nascent asset class “is a highly risky area.”  See related article: Singapore wants to bring some adult supervision to crypto Fast facts Many investors suffered losses and even lost their life savings in the recent meltdown […]

Crypto market reverses course after strong start to the week

Bitcoin dropped more than 6.5% in the past 24 hours to trade below US$30,000 as the world’s largest cryptocurrency by market capitalization gave up most of the gains made over the U.S. holiday weekend.  It was trading at US$29,850 at the time of publishing. See related article: Bitcoin, Ethereum, crypto at 2022’s lowest point Fast […]

Terra’s LUNA moonshot can’t escape gravity of market misgivings

Top blockchain and crypto news: Investors shun LUNA 2.0. Ethereum gains amid relief rally. China’s stimulus goes digital.

Philippines gets new government, will new crypto taxes follow?

Cryptocurrency companies in the Philippines await legislation from the new Ferdinand Marcos Jr. administration on how the government will tax the industry. Some are worried.
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Dunamu denies making US$100 million off of LUNA

Dunamu, the South Korean fintech company and operator of the country’s largest crypto exchange Upbit, rebutted claims that it profited by over 130 billion Korean won (US$105 million) off of LUNA Classic last year. See related article: S.Korea eyes restraints on crypto unicorn Dunamu over monopoly concerns Fast facts Last week, multiple local media reports […]

Memo to Crypto World: Wall Street is here to stay

Wall Street did it! At least that is one of the theories about the cause of the nearly US$50 billion meltdown of Terraform Labs stablecoin and LUNA cryptocurrency. How does that stand up?

Shiba Inu creator makes brief appearance, before disappearing again

The pseudonymous creator of Shiba Inu, Ryoshi, came online after a year on Monday only to delete all of its social media activity, and disappear again. See related article: Shiba Inu metaverse tease fuels 60% price boost Fast facts Ryoshi, who last tweeted on May 29, 2021, deleted all tweets and Medium blog posts, leaving […]

Terra’s Mirror Protocol fixes exploit that drained more than US$2 million

Whether the fixing of a pricing error by Mirror Protocol, the decentralized finance (DeFi) application built on Terra Classic, will help prevent a drainage of the pool similar to last year will only be known by the end of U.S. trading hours on Tuesday. See related article: Winning back the trust of the Terra community […]

Why children around the world need crypto education

Financial literacy is a life skill that is often neither taught at school nor home, writes Grace ‘Ori’ Kwan of Orca. How can we close this knowledge gap?

Ethereum passes US$2,000 mark as crypto market rises

Ethereum gained over 10% in 24 hours to reach US$2,000 on Tuesday morning in Asia after spending the better part of a week below the mark. Ethereum was trading at US$1,985 at press time. See related article: Bitcoin, Ethereum, crypto at 2022’s lowest point Fast facts The world’s second-largest cryptocurrency hit a low of US$1,721 […]

Governments pushing for CBDCs smell blood in Terra Classic’s struggles

Advocates for central bank digital currencies argue their inherent stability supersedes any benefits so-called stablecoins, algorithmic or otherwise, could offer.     

Why DBS’ move into the digital asset space is more than a token gesture

The Singapore-based banking behemoth may have found its reach constrained in retail crypto markets, but it still has big plans, CEO Piyush Gupta tells Forkast.

Digital assets can protect your purchasing power from rising inflation | The Great Disruption Ep 03

As U.S. inflation hit a 41-year record, people are looking for ways to protect their purchasing power. Beyond precious metals like gold and silver, could blockchain-based digital assets offer a better store of value for everyday consumers? What you’ll learn: Why the rising inflation rates are a threat to our purchasing power. How average consumers […]

Huobi acquires Bitex for Latin America expansion

The world’s third-largest cryptocurrency exchange in terms of trading volume Thursday said it acquired Latin American crypto exchange Bitex to expand its footprint in the region. See related article: Huobi Group poised to establish regional hub in Singapore Fast facts Though terms of the deal were not disclosed, Huobi said it plans to integrate Bitex’s […]

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.

How can I become a metaverse real estate mogul?

If buying a home is the American Dream and key to building wealth, what is that like in the metaverse? Crypto newcomer Joel Stein finds out.

Hydropower plant in China’s Hubei province fined for powering crypto mining

Chinese authorities have fined a hydropower plant in Central China’s Hubei province 43,493 yuan (US$6,528) for “illegally supplying electricity to virtual currency mining operations,” as the country continues to crack down on cryptocurrency operations. See related article: Beijing banned crypto mining, so China miners went underground Fast facts In addition to the fine, the authorities […]

Beijing banned crypto mining, so China miners went underground

Authorities and Bitcoin miners play a cat-and-mouse game as miners find means to stay off the government radar and dodge crackdowns.

Are we heading for a post-Terra crypto winter?

Terra’s LUNA and UST implosion is dragging down an already ailing market. What do other developments suggest about crypto’s long-term future?

Russia uncovers a crypto mining farm in its oldest prison: report

A deputy warden of Russia’s oldest prison has allegedly mined cryptocurrency in the facility and is under investigation on suspicion of stealing electricity to do so, Bitcoin.com reported on Monday. See related article: To stay relevant, crypto regulations need to evolve, decentralize: Crypto Rising Fast facts The deputy manager of Butyrskaya prison in central Moscow […]

To stay relevant, crypto regulations need to evolve, decentralize: Crypto Rising

Russia’s invasion of Ukraine has shown that cryptocurrency regulations need to expand beyond the jurisdiction of a single government and blockchain technology can help with that, said panelists at ‘Crypto Rising,’ a series of virtual monthly events organized by Forkast.

Cryptocurrency is worthless: ECB Christine Lagarde

European Central Bank (ECB) President Christine Lagarde said cryptocurrencies are “worth nothing” on a Dutch television program aired Sunday, calling for greater regulation over what she described as “highly speculative assets.” See related article: EU to introduce bill next year to plan a digital euro Fast facts “My very humble assessment is that [cryptocurrency] is […]

Mastering the metaverse: TradFi’s space race to ‘the next internet’

Blockchain was once associated overwhelmingly with cryptocurrencies — and specifically its poster children, Bitcoin and Ethereum. The latter, in particular, has thrust the industry forwards into the realm of smart contracts integration.  Ethereum started to bear fruit arguably most prominently last year amid a boom in non-fungible tokens (NFTs), while decentralized finance (DeFi) offered a […]

Australia’s Commonwealth Bank slams brakes on crypto services

The Commonwealth Bank of Australia (CBA) has paused the launch of crypto trading on its app amid heightened volatility in the crypto market, The Guardian reported.    See related article: Commonwealth Bank first in Australia to offer crypto trading Fast facts Australia’s largest bank announced its plans to allow customers to trade up to 10 cryptocurrencies, […]

A bipartisan case for why the US needs a Web3 regulatory overhaul

In a special op-ed, 2 former CFTC chiefs and a crypto executive make the case for why the US must prioritize policies that support the new Web3 economy.
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China’s mining re-emergence; Terra community wants answers

China’s nationwide ban on crypto mining has not affected it’s high mining hashrate. Meanwhile, Terra’s community become frustrated as they struggle to find answers.

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.

What’s the solution to Terra’s UST and LUNA crisis?

Terra’s LUNA and UST stablecoin implosions are roiling the crypto world and beyond. Picking up the pieces won’t be easy — nor finding a good path forward.

Australia’s taxman starts knocking on cryptocurrency investors’ doors

The Australian Taxation Office (ATO) warned the country’s cryptocurrency investors to appropriately report any capital gains or losses from digital assets — including non-fungible tokens (NFTs) — in an announcement on Sunday ahead of the upcoming tax season, starting July 1. See related article: Australian Tax Office warns: taxpayers on the hook for crypto tax […]

Celsius Network’s mining arm plans public listing

Celsius Mining, a Bitcoin mining unit of cryptocurrency lender Celsius Network, is planning to go public, as the company doubles down on its mining business. See related article: SEC scrutinizing crypto lending by Celsius, Gemini, Voyager: reports Fast facts Celsius Mining said on Monday that it filed a Form S-1 draft registration with the U.S. […]

LFG looks to compensate small holders of UST

The Luna Foundation Guard (LFG) Monday said it is looking to use assets remaining with it to compensate UST users, prioritizing the smallest holders first. See related article: News of LUNA’s demise greatly exaggerated Fast facts The Singapore-based foundation was left with 313 Bitcoin compared with 80,393 Bitcoin on May 7, LFG said on its […]

China state paper slams crypto and LUNA crash; applauds crypto ban

Chinese state-backed publication Economic Daily cited LUNA and UST’s crash to state cryptocurrencies “once again, proved its own risks and that it is a bubble” amid the Federal Reserve’s rate hike. See related article: Chinese runners offer substitute running to earn StepN’s GMT for commission Fast facts See related article: Tax authorities in China jump […]

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 […]

Do Kwon’s wife seeks police protection

The wife of the CEO of Terraform Labs sought protection after an unidentified individual visited their home in South Korea, local police told Forkast.

Sam Bankman-Fried buys 7.6% of Robinhood; stock jumps

Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, has bought a 7.6% stake in Robinhood for US$648 million, according to a filing with the U.S. Securities and Exchange Commission. See related article: Terra shuts down indefinitely after coming back online; LUNA, UST still on life support Fast facts Bankman-Fried bought the stake through a firm called […]

Terra’s LUNA sacrifice; Australian crypto ETFs launch

Terra’s sacrifice of LUNA pushes the UST up to US$0.84. Meanwhile, South Korea plans the institutionalization of crypto.

Terra plunges back to earth as UST stablecoin loses dollar peg

Top blockchain and crypto news: UST knocked out of Luna orbit. Making NFTs Instagrammable. China’s black market ‘digital collectibles’ trade.

Run on UST cuts the ground from under Terra’s feet

A probable run on terraUSD (UST) has weighed on the ability of the company and the non-profit behind the pioneering stablecoin project to defend its dollar peg.

India GST Council weighs 28% tax on crypto transactions

Indian tax authorities are exploring the implementation of a 28% goods and services tax (GST) on all cryptocurrency transactions, adding to a 30% tax on profits from crypto asset trading that kicked in on April 1, according to local media reports.  See related article: After crypto, India wants to come after DeFi Fast facts The […]

Three Australian crypto ETFs to debut on Thursday after delays

Australia’s first cryptocurrency exchange-traded funds (ETFs) are set to go live on Thursday May 12 on the country’s Cboe exchange after delays kept the financial products off the market for two weeks. See related article: Launch of three crypto ETFs in Australia delayed Fast facts Three funds were initially announced for listing in late April […]

How tokenization could transform Hong Kong’s fixed income markets

Tokenizing capital markets could offer greater efficiency and liquidity. How would that work in Hong Kong’s regulatory environment?
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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 […]

DeFi TVL lowest since October, Terra leads losses

The total value locked (TVL) in decentralized finance (DeFi) protocols has dropped from US$217.82 billion to US$179.5 billion in the past 30 days, reaching its lowest point since October 2021, according to DefiLlama data. See related article: DeFi wizard Cronje’s departure sends TVL sinking Fast facts Terra’s Anchor Protocol played a significant role by dropping […]

De-layered and durable: How DeFi will boost the finance sector’s resilience

As decentralized finance redefines the way money moves, a do-or-die moment is approaching for traditional finance sector businesses, says Anthony Scaramucci.

Global NFT Sales Rise; Hong Kong Embraces NFTs

Bitcoin falls as Nasdaq hits its worst drop since 2020. Meanwhile, NFT exhibitions are popping up in Hong Kong.

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?

My brief wondrous life as an Axie Infinity gamer

Crypto rookie Joel Stein dives into Axie Infinity and the curious economics of ‘play to earn.’ Will his teenage gaming dreams come true?

The Mooch is back, and batting for crypto!

Anthony Scaramucci, founder of investment firm SkyBridge Capital and former White House communications director, says governments such as those in China and the US will inevitably allow for people to own and trade cryptocurrencies.

Ethereum’s year-end price outlook lowered

A panel of 36 industry experts revised down the year-end price target set for the world’s second-largest cryptocurrency by more than 11%, according to a report by Finder, an Australian fintech. See related article: Ethereum price expected to hit $7,609 in 2022: report Fast facts Ethereum’s price is expected to rise to US$5,783 by the […]

The problems with retail crypto trading — and how to solve them

Young investors demand more accessibility, transparency and accountability than traders of yore, writes Joe Jowett of StrikeX. What are the solutions?

Canada’s 3iQ could be first to launch Australian crypto ETF

Last-minute delays to three Australian cryptocurrency exchange-traded funds (ETFs) could allow Toronto-based 3iQ Digital Asset Management to launch the first of such products in the country, the Australian Financial Review reported. See related article: Launch of three crypto ETFs in Australia delayed Fast facts The Canadian firm lodged disclosure documents with the Australian Securities and […]

Shiba Inu explained — diving beyond the memecoin

Following a year of explosive price gains, the SHIB token is inching closer toward becoming a top 10 cryptocurrency. Will this so-called “Dogecoin killer” succeed? Forkast.News explores what’s in store for Shiba Inu.

Wikimedia Foundation to no longer accept crypto donations

The Wikimedia Foundation (WMF), the organization that runs the online encyclopedia Wikipedia, will no longer accept donations in the form of cryptocurrency, the foundation announced Sunday. See related article: Ukraine crypto donations top $36M amid Russian invasion Fast facts The decision follows a vote concluded on April 12 where over 70% of the community voted […]

Solana loses consensus after bots flood network, SOL takes hit

Solana suffered another outage on Sunday Asia time, after the network lost consensus due to bots flooding the non-fungible token (NFT) minting tool “Candy Machine,” spamming more than six million transactions per second.  See related article: Solana DeFi avoids meltdown as Wormhole loss replaced Fast facts The network was down for about seven hours before […]

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.

Singapore’s responsible crypto aim; Okay Bears storm the charts

Singapore says it wants to be a “responsible crypto hub”. Meanwhile, the Okay Bears lift Solana’s sales figures.

Two charged over North Korea sanctions; Crypto market falls

U.S. Justice Department charges two Europeans for aiding North Korea. Meanwhile, Shanghai’s Covid lockdown popularizes blockchain.

Is Elon Musk’s Twitter grab good for crypto?

Top blockchain and crypto news: Tweet dreams come true for world’s richest man. Instagram scam hits Bored Apes. Bilibili tests China’s NFT boundaries.

More than US$500 mln of crypto longs liquidated so far this week

At least US$516 million worth of long positions in cryptocurrencies have been liquidated this week, according to data from Coinglass. See related article: Bitcoin long positions worth $1.5 billion liquidated amid crypto crash Fast facts The crypto liquidation comes as the Nasdaq closed at its lowest since late 2020. Bitcoin accounted for more than US$142 […]

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.

New York State Assembly votes to pause crypto mining

The New York State Assembly said it passed a cryptocurrency mining moratorium bill on Tuesday, blocking new permits and expansion for proof-of-work (PoW) mining facilities using carbon-based energy sources.  See related article: New York’s Bitcoin mining showdown sets stage for battles elsewhere Fast facts The bill needs approval by the New York State Senate. Existing […]

Launch of three crypto ETFs in Australia delayed

After being on track to beat the US to the launch of a Bitcoin spot ETF, the delay is likely to undermine Australia’s desire to emerge as a top destination for digital assets in the developed world.

University of the Philippines Twitter account hacked to promote NFT drop

Non-fungible token (NFT) scammers took control of the University of the Philippines’ official Twitter account on Monday evening, posting several tweets promoting a fake airdrop.  See related article: Twitter hacker takes over verified accounts to promote fake Azuki NFT drop Fast facts The attackers renamed the Twitter account to “takashi murakami” — the name of […]

CoinDCX double downs as the going gets tough in India

CoinDCX cofounder Sumit Gupta tells Forkast in an exclusive interview the crypto exchange that recently raised US$135 million will look to triple its headcount by the end of the year.

No love for Putin. Binance denies sharing data with Russia

Binance, the world’s largest cryptocurrency exchange by trading volume, denied sharing client data with Russian authorities, following a Reuters investigation into the exchange’s ties with the country.

A marathon not a sprint: How the US can win the digital asset race

Joe Biden’s executive order on crypto has put America on course for solid success in the digital asset space, says the Blockchain Association’s Kristin Smith.

A fast one from down under: Australia approves BTC, ETH ETFs

While the cryptocurrency industry continues to wait with bated breath for a spot-traded Bitcoin exchange-traded fund (ETF) to be approved in the U.S., three separate crypto funds were given the green light in Australia this week.  Australia’s ETFS Management (AUS) Ltd., or ETF Securities, launched a Bitcoin and an Ethereum fund, in partnership with Switzerland-based […]

Terra inspires Tron to pursue US$10B in crypto-backed stablecoin

TRON founder Justin Sun announced on Thursday a new decentralized dollar-pegged algorithmic stablecoin on the Tron blockchain called USDD. See related article: What are stablecoins, and why are some governments so afraid of them? Fast facts The TRON Decentralized Autonomous Organization (DAO) intends to raise US$10 billion within the next year to fund a crypto […]

Why blockchain is the cornerstone of investing in our planet

Can blockchain embody the values of Earth Day? Consider its growing role in ESG and the energy-efficiency of newer crypto, writes Eddie Hui of MVGX.

Shiba Inu, Dogecoin payments accepted by Porsche Baltimore dealership

A Porsche dealership in Baltimore, Maryland, has begun accepting mainstream crypto payments for vehicles, along with DOGE and Shiba Inu, according to a Tweet by U.S.-based crypto payment service provider BitPay. See related article: Lamborghini’s last all-gas Aventador to be auctioned with NFT Fast facts See related article: Hic Hic Hurray! Scottish distillery Ardbeg to […]