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.
These e-CNY hard wallets might get people talking at the Winter Olympics
China prepares to show off its tech innovation muscles at the Beijing Winter Olympics as it unveils some unusual-looking wallets for its new digital yuan.
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?
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.
Bitcoin sent by mistake, recipient will not be punished for keeping it: South Korea ruling
An investor who received $1.25M in Bitcoin by accident will not be criminally penalized, raising questions on the legal status of cryptocurrencies.
Bitcoin’s price is a lie, says Morgan Creek Capital chief
Bitcoin’s current price is not indicative of the crypto’s future prospects, says Mark Yusko, who looks forward to the tokenization of everything.
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.
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, […]
Astro Boy NFTs sell out; Virtual land market heats up
Astro Boy NFTs sell out within the hour. Also, Virtual land market heats up in the metaverse
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.
Nike takes next step into metaverse with virtual sneaker maker RTFKT
Nike announced the acquisition of a company that designs fashion clothing for the metaverse, RTFKT Studios, once noted for selling 608 pairs of NFT shoes in just six minutes. Fast facts After announcing the acquisition, both Nike and RTFKT Studios tweeted videos, each containing the logos of Nike, Jordan, Converse and RTFKT. RTFKT Studios, founded […]
US SPAC’s refusal to merge with Hong Kong crypto firms raises questions
Crypto 1 will consider acquisition targets worldwide but steer clear of digital assets companies in China and Hong Kong. Are the lights dimming on a major crypto hub?
US SPAC Crypto 1 closes IPO, says won’t pursue ‘business combinations’ with any Hong Kong crypto firms
Crypto 1 Acquisition Corp., a U.S.-incorporated blank check company, has completed its initial public offering (IPO) with gross proceeds of US$230 million, according to a company statement released Friday. Fast facts The company’s units commenced trading on the Nasdaq Global Market under the ticker symbol “DAOOU” on Dec. 7. Acting as a special purpose acquisition […]
Top crypto CEOs face House committee grappling with regulations
Stablecoins, US dollar primacy and energy consumption were among the topics in the questioning homing in on how to regulate the crypto industry.
Tencent Cloud wins bid to build massive blockchain platform in Beijing
The Beijing Municipal Government announced the bidding results for the city’s blockchain and computing power platform. Tencent Cloud and government-tied enterprise Beijing Microchip Sensing Technology won the bid and will be paid US$37 million to build the system. Fast facts According to the bid’s quotations, Tencent Cloud will provide the cloud service for the blockchain […]
OpenSea’s Wall Street waltz disappoints NFT devotees
OpenSea IPO plans in choppy waters. Crypto markets crumble. Bitcoin mining power struggles.
Bitcoin crash drags down South Korean NFT game stocks
South Korean game shares fell sharply, just a few weeks after announcements of new NFT metaverse ventures sent the shares up.
Chinese video site Bilibili tests ‘UPowerchain’ to develop metaverse
Bilibili — one of China’s biggest video sites particularly known for its content dedicated for anime, comics and games fans — is testing its blockchain UPowerchain that could help the company build its metaverse business, as Chinese tech giants are sparing no efforts to enter the metaverse space. Fast facts Bilibili has confirmed with Forkast.News […]
PBoC has established an e-CNY distributed ledger
But the head of the central bank’s digital currency research institute says issues remain such as technical standards for blockchain interconnectivity.
Global markets downturn hits crypto as well; BTC trading below $50K
For the second weekend in a row, markets were hit with a massive shock due to external factors. Market watchers weigh in on price movements and what to expect.
NFT privacy concerns; AussieMates raises mental health awareness
NFT privacy concerns meanwhile AussieMates raises mental health awareness
How blockchain tech can be the supply chain’s strongest link
Supply chain woes are deepening as seasonal consumer demand meets a logistics logjam. Dennis Delgado of SyncFab explains how blockchain can help.
New round of digital yuan coupons issued as Beijing Winter Olympics near
In Beijing, four state-run banks released a new batch of digital yuan (e-CNY) coupons on Thursday to promote its adoption rate in rehearsal for the upcoming Winter Olympics. This batch of coupons tests the e-CNY’s application in small-amount and high-frequency payment scenarios. Fast facts According to an announcement from Beijing financial authorities, coupon use cases […]
Japan’s central bank is urged to speed up its digital yen project
With economic security as a top priority, the Kishida administration anticipates the release of competing CBDCs.
The digital yuan’s de-dollarization
Why the Federal Reserve and other major central banks are likely to speed up development of retail CBDCs.
Crypto resilient to Omicron: Japan speeds up on CBDC
Crypto resilient to Omicron meanwhile Japan speeds up on CBDC
Scottish whisky brand The Dalmore to offer limited-edition liquor NFT
The non-fungible token (NFT) frenzy has extended to the luxury wine and spirits industry. The Dalmore, best known for its Scottish whiskies, has partnered with BlockBar, an NFT platform for luxury liquor brands, to offer a limited-edition liquor NFT with a set of The Dalmore Decades No.4 Collection, the brand said in a Wednesday statement. […]
Chinese cybersecurity firm Qihoo 360 develops crypto mining tracking system to facilitate clampdown
Qihoo 360, a Chinese internet company best known for its antivirus software programs, has built a system that could help the Chinese government track cryptocurrency mining activities, as the country continues to crack down on the sector. Fast facts Qihoo 360 said in a Tuesday statement that it detected 109,000 active mining IP addresses on […]
Binance crypto license plans in Singapore uncertain
Will crypto exchange Binance withdraw its license application in Singapore and look elsewhere in its search for a new global home?
Investors queasy as prospect of India crypto ban returns
Top blockchain and crypto news: Are India’s CBDC plans crowding out crypto? Jack Dorsey goes full Bitcoin bro. China’s digital yuan hopes claim another victim.
Huobi Group poised to establish regional hub in Singapore
Huobi Group, which operates Chinese cryptocurrency exchange Huobi Global, has decided to set up a regional hub in Singapore, a representative of company has told Forkast.News. Fast facts In November, Huobi Global pledged to stop offering services to Singapore-based users from March 31, 2022, to comply with local laws, according to a company statement. Huobi […]
What is Cosmos — the ‘internet of blockchains’?
The Cosmos ecosystem is expanding rapidly with inter-blockchain transfers on the rise. What makes Cosmos different from other blockchains? Forkast.News explains.
Huobi Brokerage launches crypto lending for institutions
Hong Kong Stock Exchange-listed Huobi Technology Holdings today announced that it will be launching Huobi Lending, a cryptocurrency lending service for institutions and high net worth individuals (HNWI) through its new digital asset brokerage platform Huobi Brokerage, according to a company announcement. Fast facts Alongside growing institutional interest in digital assets, crypto lending services leveraging […]
New York Fed and BIS join hands to launch fintech hub
The Federal Reserve Bank of New York has joined hands with the Bank for International Settlements (BIS) to launch an innovation hub in New York— dubbed the New York Innovation Center (NYIC) — to explore and build financial technology products for the central bank community. Fast facts The NYIC will focus on five areas — […]
Omicron hits markets; Japanese novel released as NFT
Omicron hits markets meanwhile Japanese novel released as NFT
Nigeria charges ahead with CBDC deployment with 600K app downloads
In Nigeria, the eNaira — the country’s newly launched central bank digital currency (CBDC) — has already seen nearly 600,000 downloads, according to local media Nairametrics citing the Central Bank of Nigeria (CBN). Fast facts The local media reported Saturday that the CBN governor has revealed the country’s total digital transactions rose by more than […]
Metaverse picks up momentum; Binance tweet gets yellow card
Metaverse picks up momentum, on the other hand Binance tweet gets yellow card
What is SafeMoon and can it safely reach the moon?
SafeMoon, known for high fees and social media hype, is now 85% below its all-time high. What lies in SafeMoon’s future?
Soccer superstar Iniesta given the yellow card over Binance promo tweet
Andrés Iniesta, former FC Barcelona veteran and current midfielder for Japan’s Vissel Kobe, promoted crypto exchange Binance via Twitter, which prompted a securities market regulator to write a cautionary reply tweet against crypto. Fast facts Iniesta wrote on Twitter Wednesday, saying: “I’m learning how to get started with crypto with Binance,” also posting pictures of […]
Crypto miner Xive flees southern Kazakhstan amid power shortages
Xive co-founder tells Forkast.News no mining is possible in the south, while other regions still survive.
Shenzhen introduces incentives to promote cross-border e-CNY
Shenzhen’s special zone for cooperating with Hong Kong, Qianhai District, will allocate 10 million yuan (US$1.57 million) to motivate enterprises to develop e-CNY-compatible businesses, especially in cross-border e-CNY and fintech labs. Fast facts The Qianhai Administration introduces the policies in a document released on Monday called “Interim Measures for Managing Special Funds for Supporting Financial […]
What would Jerome Powell’s second term mean for crypto?
Top blockchain and crypto news: Fed nominations suggest no sudden moves. El Salvador’s Bitcoin lava affair. Dodgy dealings in China’s digital yuan.
More Chinese regional equity exchanges pilot blockchain application
Two more regional equity exchanges in the Chinese cities of Tianjin and Qingdao have been approved by the China Securities Regulatory Commission this week to pilot blockchain applications over equity trading. Fast facts The regional equity exchanges are private equity markets in provincial or municipal administrative regions for medium to micro enterprises to trade equity. […]
Another e-CNY scam busted; SCMP to tokenize history
Another e-CNY scam busted, meanwhile SCMP to tokenize history
Hong Kong’s SCMP plans first batch of NFTs documenting history
The 118-year-old Hong Kong newspaper South China Morning Post released a white paper today on its non-fungible-token (NFT) project called ARTIFACT, as well as announcing the launch of the first series of collections of historical events called ARTIFACTs by SCMP. Fast facts ARTIFACT is a project that the SCMP designed to tokenize their reports of […]
Korea stands firm on NFT games; Laos introduces crypto regulations
Korea stands firm on NFT games, meanwhile Laos introduces crypto regulations
Norway considers banning Bitcoin mining while Laos embraces it
The Scandinavian country is concerned with potential environmental harm, while the debt-laden SE Asia nation seeks to regulate.
Chinese mining rig maker Canaan boosts self-mining business in Kazakhstan
Chinese cryptocurrency mining rig maker Canaan doesn’t seem to shy away from running its own mining business in Kazakhstan despite a power shortage situation in the Central Asian nation, which has become a popular destination for Chinese miners amid China’s clampdown on the sector. Fast facts Canaan announced today it has started joint mining operations […]
Alibaba: 180-day wait for NFT buyers to resell to prevent hype
Alibaba’s blockchain branch Antchain has set a time threshold for transferring “digital collectibles” — non-fungible tokens, or NFTs — to prevent what it calls “malicious hype” amid Beijing’s unsupportive attitude towards NFT trading. Fast facts “Digital collectibles” refers to NFTs. Tech giants in China began referring to NFTs as “digital collectibles” amid Chinese state media’s […]
Snoop Dogg, deadmau5 join Outlier Ventures to invest in the metaverse
As interest in the metaverse continues to gain pace, big names in entertainment including Snoop Dogg, deadmau5 and Shaun Neff have joined leading crypto VC firm Outlier Ventures to invest and advise start-ups to accelerate the Open Metaverse. Fast facts Since launching its Base Camp Accelerator in 2019, Outlier Ventures has helped raise over US$250 […]
Polkadot DeFi hub Acala wins first Polkadot auction after collecting over 32M DOT
Acala, a decentralized finance (DeFi) platform built for the Polkadot ecosystem, this week won the first slot in the Polkadot parachain auction with over 32 million DOT (approximately US$1.3 billion) — the native cryptocurrency of Polkadot — contributed by over 81,000 stakeholders. Fast facts The highly-anticipated first Polkadot parachain auction saw a close fight between […]
Amid crypto crackdown Bitmain donates US$1.7M to Chinese lab
Crypto mining rig manufacturer appears to be seeking chip-making capability in the midst of supply-chain shortages.
Taproot unlocks Bitcoin opportunities; Mintable aims big
Taproot unlocks Bitcoin opportunities meanwhile Mintable aims big
More Chinese crypto news services appear to become unavailable
A few more Chinese cryptocurrency news sites are currently unavailable amid the country’s ongoing clampdown on the sector. Fast facts The website of ChainNews, one of China’s largest crypto news websites, was not available as of press time on Thursday. It tweeted on Nov. 15 that the site will be down for eight to 10 […]
Bitcoin hoarding, another sign crypto is an inflation hedge
Bitcoin’s scarcity premium puts crypto into direct competition with gold and treasuries.
How will CBDCs benefit economies in Southeast Asia?
Central banks around the world are exploring digital currencies, writes Aymeric Salley of StraitsX. Here’s why Southeast Asia may be especially ripe for them.
South Korea a metaverse hub; NFTs go from digital to physical
South Korea a metaverse hub, also NFTs go from digital to physical
Texas faces new concerns over power grid burdens as crypto miners flood in
China’s mining exodus has flowed to the cowboy state that embraces crypto, but it might have to take into consideration the surging power loads.
Bitcoin ETFs beckon as SEC spurns sweet spot
Top blockchain and crypto news: Spot ETFs stymied as SEC stands firm. Is Bitcoin’s Taproot upgrade worth the wait? China’s crypto mining goes underground.
Chinese mining rig maker Canaan reports record-high earnings
China may be banning crypto mining activities, but rig makers appear to be spared from the clampdown.
Another Chinese game giant aspires to the metaverse
NetEase, a Chinese video gaming company, said on a Q3 earnings call the company “will be one of the fastest runners in the metaverse space.” Fast facts Margaret Shi, investor relations director at NetEase, said the company has been “technologically ready” for the metaverse and knows how to accumulate metaverse-related technology. With gaming making up […]
3 teams, including ConsenSys, win Singapore’s CBDC Global Challenge
The projects topped 300 rivals in their potential to improve the future digital Singapore dollar in payment services and financial inclusion. Who were the other winners?
ICBC agrees to Federal Reserve risk compliance measures
As global markets continue to watch the Evergrande debt crisis nervously, Chinese bank branch agrees to U.S. risk management measures.
Barbados to open embassy in the metaverse
The tiny island nation of Barbados announced it will build a virtual embassy in Decentraland.
Circle invests in JPYC; Baby Shark NFTs announced
Circle invests in JYPC meanwhile Baby Shark NFTs announced
Circle contributes to $4.3M Series A funding round for yen-backed stablecoin
As Circle expands into Asia as part of a global expansion plan, what does the investment in a yen-back stablecoin mean for the market?
A crypto trader is rescued after being kidnapped by local gang for six days
A crypto investor in Hong Kong was rescued six days after being kidnapped earlier this month when he tried to meet a buyer offline who promised to purchase his Tether tokens.
Taproot goes live; Hong Kong crypto kidnap
Taproot goes live, meanwhile Hong Kong crypto kidnap
Africa’s first CBDC wallet hits almost 500K downloads
As central bank digital currencies begin picking up steam around the world, the Central Bank of Nigeria announced on Friday the digital wallet for its own digital currency, the eNaira, has been downloaded 488,000 times in 160 countries — in just 19 days after its launch. Fast facts According to local news reports, after President […]