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E-CNY tests ramp up as more banks enable top-up feature

In China, digital yuan testing, which increasingly looks like a soft rollout, is continuing full steam ahead, with more banks allowing their customers to top up their e-CNY wallets. Fast facts An additional 13 banks have started to allow their customers to recharge their wallets directly in the e-CNY app, bringing the total number of […]

BC Group’s OSL digital asset revenues jump 70% in first half

BC Technology Group, a Hong Kong-listed technology digital asset company and parent of OSL, the first licensed digital asset platform in the city, today announced that its group revenues rose 54% year on year to HK$153 million (US$20 million) in the first half of 2021, driven by a 70% increase in OSL’s digital asset business […]

Dogecoin Foundation re-established, Vitalik Buterin now on board

Following a few years of inactivity, the Dogecoin Foundation is being reestablished with Ethereum co-founder Vitalik Buterin serving as the organization’s “blockchain and crypto adviser,” according to an announcement posted Tuesday on the foundation’s website. Fast facts Originally founded in 2014, the non-profit organization aims to support the Dogecoin ecosystem and community with a particular […]

How stablecoins can help investors weather crypto storms

Notwithstanding Iron Finance’s collapse, stablecoins can play important roles for consumers and the economy, writes Julian Hosp of Cake DeFi.

Twitter’s Bluesky announces new project lead

Twitter’s much anticipated decentralized social media standard, Bluesky, finally has a project lead in crypto developer Jay Graber, Graber announced yesterday on her own Twitter account. Fast facts Bluesky was announced in late 2019, and Twitter CEO Jack Dorsey said decentralization could address some of the key issues surrounding social media, such as moderation. “Centralized […]

Cardano sees inflows of $1.3M amid 6th week of outflows from crypto funds

Digital asset investment products saw outflows of US$22 million last week — the sixth consecutive week of outflows, according to CoinShares, Europe’s largest digital assets fund manager. Fast facts Total outflows for the past six weeks amount to US$115 million and mark the longest run of consecutive outflows since January 2018, CoinShares reported. However, the […]

What is Solana and why is it the hottest blockchain of the moment?

Solana prices are soaring to all-time highs and SOL is now a top-10 crypto. In this Forkast.News explainer, learn why investors are heaping love on this Ethereum rival.

HIVE buys more crypto mining rigs from Bitmain, adding to Canaan deal

HIVE Blockchain Technologies, a Vancouver-headquartered crypto mining company, is buying 1,800 machines from Chinese mining rig maker Bitmain to expand its mining operation. Fast facts HIVE said that it had ordered 1,800 Antminer S19j Pro miners from Bitmain, and the new machines are expected to bring an aggregate hash power of 180 petahash per second, […]

Asia leads world in crypto investment, report says

Asian nations are leading the world in retail crypto investment, according to a recent report by Finder.com, which found that of 27 countries surveyed, the top five were all in Asia. Fast facts Vietnam was by far the leader in crypto adoption, with 41% of respondents saying they owned at least one cryptocurrency. Indonesia and […]

Why Silicon Valley is pouring big money into India’s crypto industry

While Delhi goes back and forth over a crypto ban, crypto’s huge growth potential in the world’s second most populous country is captivating American venture capital.

Report: Ethereum is most popular cryptocurrency in Singapore

As cryptocurrencies gain increasing adoption, the profile of crypto investors in Singapore — one of Asia’s biggest hubs for traditional finance as well as the emerging crypto industry — is broadening from younger investors to mature investors who see crypto as a viable long-term investment, according to the State of Crypto in Singapore report published today. […]

Polygon makes the case for scaling solutions after ETH 2.0

London hard fork is live and Ethereum users are hoping high gas fees will be a thing of the past. Will ETH improvements phase out layer-2 scaling protocols? Polygon’s co-founder thinks not.

Cryptocurrency vs. gold — which is the better investment?

Gold and cryptocurrency have more in common than not, and savvy investors would do well to hold both, writes Sylvia Carrasco of Goldex.

Mawson buys more mining rigs from Canaan to expand in Australia, U.S.

Mawson Infrastructure Group, an Australian cryptocurrency mining company, has purchased an additional 17,352 ASIC Bitcoin mining machines from Chinese rig maker Canaan in a move to bolster its mining operations on its home turf and in the United States. Fast facts Mawson plans to deploy the additional machines — Avalon A1166s and A1246s — purchased […]

Poly Network assets returned; OKEx lists Baby Doge

Poly Network assets returned also OKEx lists Baby Doge

TZ APAC in Tezos blockchain adoption push in Asia

TZ APAC, an entity supporting the Tezos blockchain ecosystem in Asia-Pacific, this week announced a “strategic commitment” to the region as it bolsters its efforts to grow the Tezos ecosystem. Fast facts TZ APAC intends to deploy capital and resources across the region towards business development, marketing and project management to drive adoption of the […]

Accenture falls prey to ransomware attack

Accounting and consultancy giant Accenture has become the latest major victim of a ransomware attack. After Accenture initially reported that it had repelled a hacker group named Lockbit, encrypted files belonging to Accenture began to be published today, according to a report by Decrypt. Fast facts An Accenture spokesperson said in a statement: “Through our […]

Total crypto market cap reaches $2 trillion again

The total market capitalization of cryptocurrencies has just broken the milestone of US$2 trillion for the first time since May, reflecting a bullish trend since earlier this month. Fast facts On Wednesday night Hong Kong time, the total crypto market cap reached US$2.007 trillion and stood at US$2.002 trillion on Thursday at noon, according to […]

OKEx lists new Dogecoin spawn amid DOGE price surge

Amid a surge in the price of Dogecoin, Seychelles-based crypto and derivatives exchange OKEx has listed Baby Doge Coin — a new cryptocurrency “created by fans of of the widely popular Dogecoin” — for spot trading, according to a company news release. Fast facts OKEx’s listing had a brief positive impact on Baby Doge’s price […]

What are ‘Ethereum killers’ and what are their prospects with Eth2 under way?

With Ethereum 2.0 still in development, rival blockchains like Cardano, Binance Smart Chain, Solana and Polkadot are hot on Eth’s tail. Who might prevail, and why?

NFT trade takes off. Tether’s bankable reserves. Tencent targeted in China.

Top blockchain and crypto news: NFT wave buoys OpenSea. Are dollars and sense a lifeline for Tether? Tencent gets a target on its back.

China’s mining exodus flows to U.S. Is Texas the new promised land?

Poolin, a major mining pool in China, has set sail for America. ‘Large players are all over the U.S. now looking for deals.’

Chinese DeFi platform Poly Network suffers US$600M hack

Impact of one of the biggest heists in the industry looks set to be mitigated as hackers agree to return funds.

US Senate passes $1 trillion infrastructure bill with crypto tax requirements

Despite strong lobbying attempts from the crypto industry for last-minute amendments, the Biden administration’s US$1 trillion infrastructure bill passed the Senate last night with heightened tax reporting requirements for crypto “brokers” and possible ramifications for crypto miners, as Yahoo News reports. Fast facts A compromise amendment requiring unanimous consent to be added to the bill […]

Hong Kong artists embrace NFTs as OpenSea trading volume explodes

Despite speculation that the NFT market is cooling, OpenSea continues to post record transaction volumes, and Hong Kong artists are getting in on the action.

Ethereum investment product market share rises to 26% amid fund outflows

Despite a recent recovery in crypto prices, digital asset investment products last week saw outflows of US$26 million, according to CoinShares, Europe’s largest digital asset fund manager. It was the fifth consecutive week in which institutional money flowed out of cryptocurrencies, mainly Bitcoin. Fast facts Bitcoin — the largest cryptocurrency by market value — bore […]

Tether unveils reserves and backing for its USDT stablecoin in new report

To assuage critics and to abide by a legal settlement, Tether Holdings Limited, the issuer of the world’s largest stablecoin USDT, has released a report by an independent accountant, which found that Tether’s tokens are 100% backed by its reserves. Fast facts In its review of Tether’s latest Consolidated Reserves Report, Cayman Island-based accounting firm […]

Crypto miners set to be snared by U.S. infrastructure bill

A landmark US$1 trillion infrastructure bill moved one step closer to becoming law on Sunday, notably without carve-outs for cryptocurrency miners and network validators. What does it mean for the industry?

Are DAOs a new way for companies to go public?

As more crypto companies go public, some are returning to a decentralized business model. ShapeShift CEO Erik Voorhees explains the ethos and reasons why.

Binance bans derivatives in Hong Kong: Ethereum fork boosts trading

Binance bans derivatives in Hong Kong while Ethereum fork boosts trading

Latest digital yuan trial launches with backing of JD.com, Bank of Communications

E-commerce company’s tie-up with government-owned lender suggests hybrid private-state future for central bank digital currency.

Indian Olympic medalists to get free cryptocurrencies

Indian athletes who have won medals at the Tokyo Olympics have been promised free cryptocurrencies by Indian crypto exchange Bitbns, according to a report by the Economic Times. Fast facts Bitbns will create systematic investment plans denominated in Bitcoin and Ethereum worth around US$2,695 for gold medalists, US$1,348 for silver medalists and US$674 for bronze […]

Ether price and trading volume surging as Ethereum upgrade goes live

Ethereum’s London hard fork sees a smooth launch as the crypto market sends Ether’s price soaring.

Venezuela launches CBDC amid runaway inflation and currency redenomination

In an effort to curb runaway inflation, Venezuela’s central bank is removing six zeros from its currency and putting a digital bolivar into circulation on Oct. 1, according to reporting by Bloomberg. Fast facts An example of a central bank digital currency, the digital bolivar was announced by the Venezuelan central bank’s Twitter account yesterday […]

China continues e-CNY pilot; Google allows crypto advertising

China continues e-CNY pilot also Google allows crypto advertising

Ethereum rising: 3 reasons why Ether’s price could soon break $3,000

Will Google greenlighting US crypto ads, Ethereum’s London upgrade and clearer regulations pave the way for another Ether price rally?

The9 expands to Kazakhstan with new crypto mining joint venture

The9 Ltd., a Chinese gaming company that only a few months ago pivoted to crypto mining, has signed a term sheet through a company unit with an enterprise in Kazakhstan to set up a joint venture. The move is a bid to ramp up crypto mining operations in the Central Asian nation. Fast facts Nasdaq-listed […]

DBS Bank’s digital exchange assets surge 60% in Q2

DBS eyes bigger investor base as digital assets under custody top US$100 million.

U.S. infrastructure bill set for possible change following crypto industry backlash

An amendment has been introduced to the US$1 trillion infrastructure bill currently before the U.S. Senate that would exempt bitcoin miners and other validators from a provision seeking to raise funds for its fulfilment, according to a report by CNBC. Fast facts As Forkast.News has reported, the provision sought to raise US$28 billion over the […]

Could Ethereum’s upgrade affect miners’ manipulations for extra profits?

Cryptocurrency miners are front-running Ethereum transactions to make profits called MEV that critics decry as unfair. What can be done about it?

Ethereum upgrade closely watched; India launches e-RUPI voucher

Ethereum upgrade closely watched also India launches e-RUPI voucher

Taxing times for crypto. Ethereum hard fork takes knife to fees. Tencent bets on NFTs.

Top blockchain and crypto news: Is Ethereum’s price flatlining on eve of revolution? Uncle Sam wants pay to play. China’s Big Tech toes the line with NFTs.

Canaan grows crypto rig sales as Chinese miners tool up abroad

North America emerges as hardware demand hotspot amid Beijing’s regulatory onslaught against cryptocurrency sector.

Ethereum prices hit resistance as major London Upgrade looms

ETH rose in a historic run in anticipation of ‘Ethereum halving’ — but dipped on the eve of the London hard fork. Forkast.News asks top cryptocurrency analysts to find out why.

Mastercard partners with Australian exchange for crypto card

In a further move towards cryptocurrency adoption, Mastercard has partnered with one of Australia’s oldest crypto exchanges, CoinJar, to launch one of the country’s first crypto payment cards. Fast facts The card became available on Tuesday in a digital form through integration with Apple Pay and Google Pay, and will be available in a physical […]

Ethereum addresses using DeFi soar 65% to over 2.9M

The Ethereum ecosystem is continuing to see strong growth, with institutional capital ‘flooding’ into decentralized finance and decentralized autonomous organizations flourishing.

United Nations-associated NFT art project builds on Polkadot to fight climate change

The DigitalArt4Climate NFT initiative aims to promote art via blockchain technology to inspire environmental activism around the world.

Hong Kong crypto crime surges; Tencent launches NFT platform

Hong Kong crypto crime surges as Tencent launches NFT platform.

Blockchain applications that will change the world in the next 5 years

The next half decade will see mass adoption of decentralized technology, writes Max Kordek of Lisk. Here are the leading uses.

Marathon Digital to buy more mining rigs from Bitmain

Nasdaq-listed Marathon Digital Holdings, one of the biggest Bitcoin mining companies in North America, has announced a deal to buy an additional 30,000 mining machines from Bitmain to boost its mining capacity. Fast facts Marathon has entered into a contract with Bitmain to purchase 30,000 Antminer S19j Pros worth a total of US$120.7 million, the […]

Crypto mining rig maker Canaan names new CFO

Cryptocurrency mining rig manufacturer Canaan has announced the appointment of James Jin Cheng as its new CFO, following the resignation of his predecessor in February. Fast facts Cheng was previously vice president of Chinese internet recruiting platform Zhaopin Ltd., which listed on the New York Stock Exchange in 2014 before being taken private in 2017. […]

Miami prepares launch of city cryptocurrency

The city of Miami is set to launch its own cryptocurrency, MiamiCoin, tomorrow. The token will allow people to invest in the city to fund infrastructure projects and events, according to a report by Decrypt. Fast facts The token is being released in partnership with CityCoin, a project that facilitates cities releasing their own tokens […]

Square acquires Afterpay for $29B to expand into ‘buy now pay later’

Global payments giant Square — which recently made moves into decentralized finance — is acquiring Australian “buy now pay later” fintech company Afterpay for US$29 billion (AU$39 billion) to expand its range of services, according to a recent company press release. Fast facts The purchase will enable Square’s CashApp and Seller business units to offer […]

China maintains crypto market pressure; J-Pop stars offer NFT advice

China maintains crypto market pressure. On the other hand, J-Pop stars offer NFT advice.

Binance in Malaysia ban as it ends derivatives trading in Germany, Italy, Netherlands

World’s biggest cryptocurrency exchange steps up compliance and cuts product offerings, with a ban in Malaysia and end of lucrative derivatives business in three EU nations.

U.S. infrastructure bill could bring sweeping regulatory changes to crypto

A provision in an infrastructure bill being debated by the U.S. Senate has prompted concerns in the crypto industry as it boosts Internal Revenue Service reporting requirements for investors and brokers. Fast facts According to the New York Times, the provision is an effort to help fund a US$ 1 trillion bipartisan bill and could […]

How NFTs can track patient consent for clinical trials and give you greater control over your own health data

A new NFT platform built on Hedera Hashgraph aims to give patients greater control over their health information. How does it work?

Japan’s Monex and SBI report strong Q2 results

Two of Japan’s largest crypto firms, Monex and SBI Groups, have seen strong performances in the second quarter of the year, according to the groups’ respective Q2 reports. Fast facts SBI operates two domestic exchanges, SBI VC Trade and the TaoTao platform, as well as the mining arm SBI Crypto and U.K.-based liquidity provider B2C2. […]

How Wall Street’s ‘best-kept secret’ now fuels high cryptocurrency yields

Celsius Network CEO says crypto lenders are using Wall Street’s ‘safest’ business tactic to provide high interest rates to customers. What are the risks?

Busan plans digital asset exchange; Tencent launches digital IOUs:

Busan plans digital asset exchange meanwhile Tencent launches digital IOUs.

10 key blockchain developments in healthcare toward Covid-19 in 2021

Blockchain technology is part of the important work being done toward a safer and healthier world. Lucas Schweiger of Blockdata summarizes this year’s strides forward.

Crypto exchange FTX.US daily trading volumes jump 150-fold in a year

FTX.US, the U.S. affiliate of Hong Kong-based cryptocurrency exchange FTX, saw its average daily trading volumes soar 150-fold in June compared to the same month a year before, according to the company’s mid-year results. Fast facts The company reported that FTX.US had a daily volume that ranged between US$150 million and US$1 billion in the […]

IMF wants to be part of world’s transition to a digital economy

The International Monetary Fund says it has a mandate to help countries around the world adopt and adapt to digital currencies, but only if the digital money is in the public interest — which Bitcoin is not, according to an IMF report published yesterday. Fast facts While the IMF recognizes the potential benefits of digital […]

Over 220 million people are now crypto users, says new report

The number of crypto users around the world grew to 221 million in June, double the number in January, according to a report released today by Hong Kong-based cryptocurrency exchange, Crypto.com. Fast facts Bitcoin drove the growth in crypto use from January to April, with companies such as Microstrategy, PayPal, Tesla and Visa buying into […]

Crypto retirement plans are on the rise. Are they a good idea?

Tokenization is creating new ways to invest. 3 crypto firms are partnering to also offer crypto retirement portfolios and inheritance planning.

India admits no crypto data; Korean crypto investor numbers plummet

Number of new South Korean crypto investors have tanked in the month of June as crypto mining investments boom outside China.

Number of new crypto investors in South Korea drops over 90%

New data provided by lawmaker Kim Hee-gon shows a significant decline in new users and the amount of transactions on the four largest cryptocurrency exchanges in South Korea. Fast facts The data aggregated by the four largest crypto exchanges in Korea — Upbit, Bithumb, Korbit and CoinOne — shows that their total of new users […]

Iran’s electric utility issues warning about Chinese crypto miners

Iranian state electric company Tavanir has warned judicial officials about Chinese cryptocurrency miners coming to Iran, an influx that could worsen the country’s power outage problems, according to local media reports. Fast facts Tavanir CEO Mohammad Hussein Motevallizadeh said in a letter published by local news website Eghtesadnews that the Chinese government’s crackdown on crypto […]

Crypto mining rig giant Bitmain divests from AntPool, the world’s biggest mining pool

Bitmain’s move comes amid China’s crypto mining crackdowns and AntPool’s shrinking hashrate. Is Bitmain gussying up for an IPO?

Stoner Cats cause trouble on Ethereum as NFT cartoon goes live

Sales of non-fungible tokens for “Stoner Cats,” the new adult cartoon featuring Ethereum creator Vitalik Buterin alongside Hollywood A-listers, resulted in losses totaling 344.6 ETH (US$790,000) to fans yesterday due to the influx of buyers who overwhelmed the Ethereum network and failed transactions, according to data from Dune Analytics. Fast facts The show, which sold […]

Amber Group launches CreatorFi NFT initiative to bridge traditional, crypto worlds

Hong Kong-based crypto financial services company Amber Group wants to bridge the gap between creators, collectors and platforms looking to get into NFTs and the crypto space.

Bitmain spins off Antpool; Binance CEO willing to step down

Binance CEO CZ confirms that a new executive may lead the organization. Meanwhile, Bitmain spins off one of the world’s largest mining pool Antpool.