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Crypto market briefly up, then falls as US Fed leaves interest rates unchanged

The global cryptocurrency market rose along with smaller gains in the broader equity and bond markets in the aftermath of a Federal Reserve Open Market Committee statement Wednesday afternoon that it would leave interest rates untouched at near zero but expects to raise them soon. As the market digested the latest report, prices began trending […]

Crypto mining’s Great Migration continues — out of Kazakhstan

Political chaos and power shortages are causing miners to flee a nation that only recently became the world’s second-largest Bitcoin producer.

Crypto market suffers mauling as bears go berserk

Top blockchain and crypto news: Market chills make investors shiver. Hacking storm at OpenSea. Has Beijing tamed NFTs?

‘We’re in a crypto super cycle,’ says CoinFLEX CEO

Mark Lamb of CoinFLEX takes a 20-year view of crypto and predicts ‘infinitely bigger’ growth than imagined today, with stablecoins leading the transformation.

Kazakhstan cuts off power for crypto mining amid blackouts

Kazakhstan has cut off the power supply for crypto miners amid blackouts and a growing power crisis in a central Asian region that also includes Kyrgyzstan and Uzbekistan, a local Bitcoin miner told Forkast. Fast facts The Bitcoin miner said Kazakhstan’s authorities are blocking all electricity for crypto mining through Jan. 31, confirming a Bloomberg […]

How to avoid regulatory pitfalls in an increasingly ‘cryptoized’ world

Crypto regulations run the gamut from wait-and-see to total prohibition. What are the dos and don’ts of smart regulation?

SEC wins time to resist crucial document handover to Ripple in XRP lawsuit

A federal judge on Monday has given the U.S. Securities and Exchange Commission (SEC) until Feb. 17 to fight her earlier order to turn over to the defendant Ripple Labs certain sensitive government documents in the agency’s lawsuit alleging the XRP token is an unregistered security. Fast facts Ripple and XRP investors initially believed they […]

Korea to survey crypto assets; China hunts for CBDC talent

Korea will include virtual assets in its financial survey, while China’s central bank hunts for CBDC talents.

Crypto market tumbles amid uncertainty over Russia and Ukraine

Bitcoin and Ethereum fall below psychologically important levels as rising uncertainty clouds markets. Is the Fed also depressing crypto’s prospects?

NFTs and music: Is the fan outcry over NFTs’ environmental impact warranted? | Part 4

K-pop fans are waging online campaigns against their favorite artists over NFTs, denouncing the technology’s carbon footprint. How polluting are NFTs?

Korea plans metaverse leadership; Russian bank proposes crypto ban

South Korea envisons itself becoming a top metaverse leader, while Russia’s central bank proposes crypto ban.

Why Asia is poised to be the next big market for an NFT boom

Global NFT sales are exploding in 2022, but experts predict this is only the beginning of a bigger surge in Asia.

Crypto investors are being wooed in South Korea’s tight presidential election

The top contenders jockey for position on initial coin offerings and other blockchain-based innovations. How did crypto become a critical factor in the race?

Digital dollar leaps closer to reality with new Fed paper

Though the world’s most powerful central bank does not stake a position, its discussion paper is a big step toward supporting a future US digital currency.

Straight shot: How sports stars are sidestepping middlemen in Web 3.0

A pro basketball player and an ex-banker are aiming for a slam-dunk with a ‘creator first’ content platform. Calaxy co-founder Solo Ceesay explains how.

Crypto.com discloses details of US$34M hack

The fast-growing crypto exchange Crypto.com discloses large amounts of Bitcoin and Ether were stolen from 483 customers.

Russia central bank calls for ban on crypto

Russia needs new laws for a comprehensive ban on crypto and crypto-related activities within its borders, the Bank of Russia stated in a report published Thursday.  Fast facts The recommendation is the latest in a global cryptocurrency crackdown from China and other Asian nations to the United States, as governments fear instability and loss of […]

BIT Mining’s Ohio site power capacity grows amid US expansion

BIT Mining’s Ohio mining site has achieved about 50 megawatts of power capacity in the midst of its U.S. expansion, the crypto miner announced on Tuesday. Fast facts BIT Mining’s Ohio data center will continue scaling for a planned capacity of up to 150 MW. The site currently conducts self-mining operations while hosting third-party miners. […]

How is crypto different from regular money?

With all the buzz surrounding cryptocurrency, one has to wonder how it is different from traditional money. Watch this short Forkast video explainer to learn about the evolution of money and what makes cryptocurrency like Bitcoin unique. What you’ll learn: How did the financial crisis of 2008 give birth to cryptocurrency? Why is decentralization viewed […]

Google hires former PayPal exec in crypto push

Google has hired former PayPal executive Arnold Goldberg to run its payments division as the company eyes offering a broader range of financial services including cryptocurrencies. Fast facts “Crypto is something we pay a lot of attention to,” Google’s president of commerce Bill Ready told Bloomberg. PayPal has already incorporated cryptocurrency into its business, recently […]

Crypto clampdowns mount in Asia as authorities ponder bans

Top blockchain and crypto news: Asian governments target crypto. Managing MATIC. China’s expanding metaverse.

Singapore crypto ATMs shut down to comply with central bank rules

Cryptocurrency ATM operators in Singapore halted operations on Tuesday to comply with new guidelines issued by the Monetary Authority of Singapore (MAS), the country’s central bank, Bloomberg reported.  Fast facts Crypto ATM operators Daenerys & Co. and Deodi Pte shut their operations down as they await further clarification from MAS.  New central bank guidelines issued […]

Crypto-related crimes in China still high despite ban on transactions

The total number of legal judgments involving crypto-related crime in China slightly dipped in 2021 to 5,137 cases, as the nationwide clampdown continues, according to a research report.  Fast facts China’s legal system published 5,170 judgments in 2020, a significant leap from 3,474 in 2019, Chinese blockchain data tracker Zhongke Lianan found in its report. […]

BTFD is more than a meme — it’s a revolution

Savvy cryptocurrency investors now know what the biggest players have long done, writes Michal Cymbalisty of Domination Finance — ‘buying the f* dip!’

How to invest in cryptocurrency

If you’re intrigued about Bitcoin’s price history or Ethereum’s all-time highs, you might be wondering if you’re missing out on financial gains. To explore how to get started in investing in cryptocurrency, Forkast has created a quick explainer video on what to do and the options. What you’ll learn: What are the two types of […]

Up to code: Bringing digital assets into the regulatory architecture

If 2021 was a breakout year for crypto, this year may mark a similar advance for regulation of the industry, says Caroline Malcolm, Chainalysis’ new policy chief.

North Korea hacked US$400M of crypto in 2021, says Chainalysis

State-backed hackers from North Korea stole cryptocurrencies worth about US$395 million last year across at least seven cyber attacks, according to Chainalysis, a blockchain data company. Fast facts Several of the attacks were likely led by Lazarus, a group of hackers believed to be backed by North Korea’s primary intelligence agency, the Reconnaissance General Bureau, […]

This is what DeFi banking will look like in the future

Traditional banks are not going away and decentralized finance is here to stay, writes Edan Yago of Sovryn. Here’s how an amalgam of the two can take shape.

Kazakhstan crypto mining fortunes falter as regime unplugs internet

Top blockchain and crypto news: Bandwidth bust in Kazakhstan. Binance chief CZ tops rich list. Digital yuan app adoption grows.

Ripple responds to SEC motion to strike its fair notice defense

Attorneys for Ripple Labs Inc. filed a response with a federal judge Monday asserting the U.S.  Securities and Exchange Commission is misapplying a recent ruling in another case in an attempt to deprive Ripple of an affirmative defense in the ongoing lawsuit, SEC v. Ripple Labs Inc.  Fast facts In Monday’s letter, Ripple argued the […]

Indian authorities seize assets in alleged $162M crypto scam

The Enforcement Directorate in India seized assets of a businessman worth around US$4.9 million in a money laundering case involving a crypto scam, according to a press release on Monday.  Fast facts Nishad K and his associates allegedly perpetrated a crypto scam in which some 900 investors were cheated out of approximately US$162.4 million. The […]

Kazakh crypto miners remain hopeful, assess satellite option amid unrest

Internet blackouts are partially restored but access remains unpredictable to support full crypto mining, industry players say.

Binance CEO Changpeng Zhao is the richest Asian, Bloomberg data shows

Binance CEO Changpeng Zhao is now the richest Asian person with an estimated net worth of US$96 billion, even without counting his crypto fortune, according to the Bloomberg Billionaires Index. Fast facts The daily index ranks the world’s 500 richest people, a list on which the 44-year-old Canadian founder would place 11th, according to the […]

China officially labels crypto mining as ‘obsolete’

China’s top economic planning body has officially designated crypto mining as “obsolete,” reinforcing government efforts to stamp out the industry entirely.  Fast facts

US central bank chief says he will tackle higher inflation

Federal Reserve Chairman Jerome Powell will reiterate his pledge to prevent entrenched inflation, in testimony released before his Senate nomination hearing on Tuesday.  Fast facts “We will use our tools to support the economy and a strong labor market and to prevent higher inflation from becoming entrenched,” he said in a statement prepared for delivery. […]

Is the CFTC expanding its powers over crypto without authorization from Congress?

The CFTC is asserting greater regulatory powers over the crypto industry than ever before. But does the agency have the statutory backing to do so?
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Sonic creator Sega may shelve NFT project if fan backlash continues

Sega, the Japanese gaming giant, has vowed to backtrack on its NFT (non-fungible tokens) plans if fans continue to criticize the project. Fast facts (Update removes mention of Mortal Kombat)

Kazakhstan internet restoration still not enough for crypto miners, NetBlocks says

Limited restoration of internet access in Kazakhstan is not enough to bring the world’s second-largest crypto mining hub back fully online, according to internet tracker NetBlocks.  Fast facts Last week, internet access in the central Asian nation was shut off after protests over fuel prices spread across the country, resulting in more than 100 deaths […]

Race to be crypto hotspot heats up in Miami, New York

What’s behind the crypto cheerleading by U.S. mayors? Are their city coins savvy moves — or will the bespoke crypto end up worthless?

Kazakh riots hit crypto miners amid internet blackout

Bitcoin hashrates tumble as miners unprepared for an outage, experts say.

Besides crypto, what other digital assets can you invest in?

Have you already made your first Bitcoin trade? Perhaps you already have and would like to know more about other digital assets. This Forkast.News video explainer explores what investors can hold in their portfolios as alternatives to cryptocurrency. What you’ll learn: What digital assets can you invest in other than Bitcoin and altcoins? What are […]

Flash crash hits crypto market, but prices steady throughout Asia trading day

Bearish concerns over Federal Reserve rate hikes show a continued correlation with traditional markets, but industry watchers see changing dynamics at play.

CBDCs and the year that may reshape crypto markets

Top blockchain and crypto news: CBDCs at the crossroads. A token gesture from Samsung. NFTs survive in China.

‘Everything will be an NFT next year,’ says Circle chief of product

Rachel Mayers sees corporate and institutional interest in crypto and blockchain create an explosion in use cases and a whole new way of demonstrating consumer loyalty.

Top 5 NFT trends to watch in 2022

NFTs are finding novel uses across many sectors, from fashion to real estate. What industries stand to benefit most from this technology in the year ahead?

China moves to ban internet marketing services for crypto

The Chinese government published a draft regulation on Dec. 31 stating that no organization or individual is allowed to provide internet marketing for illegal financial activities, which include cryptocurrency transactions. Fast facts The regulation, drafted by the People’s Bank of China — China’s central bank — and other Chinese government institutions stipulates that any organization or […]

Top 5 blockchain trends for 2022 and beyond

Looking beyond this year’s headlines like El Salvador’s Bitcoin adoption, here are the key developments in blockchain technology that will have lasting impact in the new year and beyond.

How to protect crypto privacy in the age of regulation

It’s a myth that crypto transactions are anonymous, writes Warren Paul Anderson of Discreet Labs. Confusing anonymity with privacy is what causes trouble.

Crypto in Asia: 5 top fintech regulatory stories of 2021

Countries acted to encourage — or discourage — cryptocurrency and other blockchain-based assets, sending markets wildly up and down.

The top 5 ‘Ethereum killers’ of 2021

Ethereum was game-chaging at its 2015 launch, but today it’s showing its age. As Eth2 upgrades slowly unfold, who are the top rivals trying elbow out the #2 blockchain?

What lies ahead for crypto regulations in 2022

From China’s ban to FATF’s travel rule, crypto regulations have been top of mind this year. How might regulatory impulses and current trends play out?

How DeFi is devouring traditional finance, bit by bit

2021 will go down as the year the DeFi giant woke up, writes Derek Alia of Futureswap. What lies in store for decentralized finance in the year to come?

Looking ahead: 3 crypto predictions for 2022

As 2021 draws to a close, what are this year’s milestones and trends to watch in the year ahead? Forkast.News consults experts to find out.

Year in cryptocurrency: biggest surprises of 2021

While increasing crypto adoption was predictable, 2021 also saw much that was unexpected. Here are the events that shocked even crypto natives.

Blockchain Research Institute co-founder sees DeFi reaching trillion dollars in total value

Alex Tapscott of Ninepoint Partners also shares with Forkast.News his predictions for stablecoins and NFTs in 2022.

Will 2022 be the year of crypto regulation?

Global shifts are underway in crypto regulations, writes Huong Hauduc of Bequant. How might the political and market forces play out next year?

Use cases for blockchain will expand beyond crypto, says SyncFab exec

Dennis Delgado, co-founder of a blockchain developer for supply chain management sees an explosion in new blockchains in 2022 for industry, logistics and manufacturing.

Crypto Santa’s naughty and nice list for Christmas 2021

Who in the crypto world deserves Santa love this year, and whose chimney should be snubbed? The elves at Forkast.News help the big man with his list.

Year in review: Top China blockchain news in 2021

China tries to stamp out Bitcoin mining while increasing its influence over blockchain technology and preparing the digital yuan for launch. What lies in store for 2022?
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What Sam Bankman-Fried thinks will happen with NFTs and crypto exchanges in 2022

Which blockchain sector will flourish, and what’s not yet ripe for mass adoption just yet? FTX CEO Sam Bankman-Fried offers his crystal ball in a special Forkast.News video.

Are liquidity miners mercenary capitalists or infrastructure providers?

Liquidity mining plays a unique role in the DeFi ecosystem. How does it work?

CBDC tracker shows U.S. falling further behind

Of the Big Four central banks, including those of the EU, UK and Japan, only the Federal Reserve has not progressed beyond research mode in central bank digital currencies.

Japan’s SBI invests in Singapore crypto exchange Coinhako

Japan’s financial conglomerate SBI Holdings announced a joint investment in Singapore’s virtual asset exchange Coinhako with Switzerland-based Sygnum Bank. Fast facts The investment is made through a fund formed in Singapore named the SBI-Sygnum-Azimut Digital Asset Opportunity fund. SBI expressed certainty in supporting Coinhako’s international expansion and other startups that have growth potential in the […]
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How blockchain can transform the global shipping sector

Blockchain promotes trust and can greatly cut transaction costs, writes Edmund To of GSBN. So why is the shipping industry still clinging to paper documents?

The Forkast.News guide to last-minute blockchain and crypto gift ideas

Not yet done with your holiday shopping? Here are ideas for all the loved ones on your list, whether they are tech-savvy or merely crypto-curious.

Game company Nexon America now accepts crypto for in-game payments

Asia’s gaming giant Nexon’s US subsidiary supports cryptocurrencies for players in buying items inside its popular online games.

Court in Beijing says losses caused by crypto mining deals not protected by law

In a contract dispute case, a Beijing court in Chaoyang district on Wednesday ruled a legal arrangement for Bitcoin mining to be invalid, signaling how China’s legal system may view future crypto-related disputes. Fast facts In May 2019, the plaintiff, Fengfu Jiuxin company, signed purchases and services contracts with blockchain technology company Zhongyan Zhichuang, with the latter […]

Chinese mining rig maker Canaan secures purchase order from Genesis for 30K units

While China continues to stamp out cryptocurrency mining, the mining rig producers continue raking in the deals. The latest: Canaan, a Chinese crypto mining rig maker, has secured a follow-on contract from Genesis Digital Assets for 30,000 units of Avalon Bitcoin mining machines, with another 150,000 units to be executed. Fast facts Back in August, […]

Avalanche price surge leads minor market rebound

After two weeks of a downward price spiral, the market showed some signs of life this morning, with most coins managing to rise about 5% coming into business hours Asia time. AVAX, however, the native token of the Avalanche blockchain, gained almost 25% overnight to reach a two-week high of US$106.87 and finding itself in […]

NBA is taking the lead with blockchain, crypto

The National Basketball Association has been ahead of the game in crypto adoption, but after a week of major developments, the league is now way out in front.

Myanmar’s resistance routes funding through Tether

Top blockchain and crypto news: Can stablecoins bankroll democracy? Nike swooshes into the metaverse. Animoca and Bored Apes venture deeper into the gaming jungle.

Australia on track for a crypto boom by 2030, EY report says

The report says the country’s crypto industry could swell by up to 30 times its current size in the coming decade.