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Litecoin transactions jump amid Bitcoin blockchain congestion, higher fees

Daily transactions on the Litecoin blockchain hit all-time highs over the past two days amid the Bitcoin network’s congestion and higher transaction fees, Glassnode data showed.

How blockchain gaming can break out of its niche and win over more people

It’s currently fashionable to publicly knock blockchain gaming, but behind closed doors, a growing number of developers are realizing its potential, writes Tim Dierckxsens of Venly.

Bitcoin, Ether edge up; Litecoin leads winners, Matic the losers; U.S. equity futures flat

Bitcoin edged higher on Wednesday morning in Asia to hold above the US$27,500 mark. Ether also gained. Other top 10 non-stablecoin tokens traded mixed.

Gamers stand to win big with NFTs, they just don’t know it yet

NFTs are changing in-game item ownership and value, yet the gaming industry remains skeptical. With microtransactions set to exceed $76 billion this year, it’s time for gamers to understand the benefits of NFT technology.

Bitcoin, Ether fall; Polygon, Solana lead losers; Asian equities, U.S. stock futures drop

Bitcoin dropped 1.25% and Ether fell 0.25% in Tuesday afternoon trade in Asia. All other top 10 non-stablecoin cryptocurrencies also dropped.
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Bitcoin transaction fees surge, El Salvador users suffer consequences

Skyrocketing activity has led to a surge in average Bitcoin transaction fees — which rose to US$31.15 as of March 8 — exerting increasing pressure on users in low- and middle- income economies including Bitcoin-reliant communities in El Salvador, the first country to implement mass adoption of the digital currency.

Crypto and NFT Market Update – May 9th

Welcome to The Daily Forkast – May 9, 2023 – presented by Jeff Cheung for the latest in the crypto markets. Bittrex U.S. has filed for bankruptcy after the Securities and Exchange Commission accused it of operating an unlicensed exchange a few weeks ago. Bitcoin and Ethereum, have continued to drop in prices as a […]

Bitcoin falls below US$28,000, Ether declines, Litecoin slips further, US equity futures stall

Bitcoin fell below US$28,000 on Tuesday morning in Asia as memecoin hype clogged the network and drove up transaction fees. Ether and all other top 10 non-stablecoin tokens dropped.

Bittrex’s U.S. crypto exchange unit files for bankruptcy following closure, SEC lawsuit

U.S. crypto exchange Bittrex Inc. has filed for bankruptcy just days after closing operations following an SEC lawsuit and citing unclear crypto laws.

Why DAOs and collective collaboration are key for Web3 to realize its potential

Free of the hierarchies and power dynamics in traditional companies, DAOs can allow Web3 organizations to do better, writes Arjun Kalsy of Mantle.

Hong Kong NFT firm Artifact Labs raises US$3.25 mln in seed round

The startup, originally incubated by the South China Morning Post, has closed a financing round led by Blue Pool Capital and Animoca Ventures.

Bitcoin, Ether drop; Polkadot, XRP biggest losers; Asian equities gain 

Bitcoin, Ether fell in Monday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Polkadot and XRP led the losers in that list.
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Crypto and NFT Market Update – May 8th

Welcome to The Daily Forkast, May 8, 2023, presented by Jeff Cheung for the latest in the crypto markets. Binance halted Bitcoin withdrawals twice today as a result of an influx of pending transactions and sky-rocketing fees. The Ethereum Foundation sold US$30 million worth of Ethereum to Kraken as well, leading to slight dips in […]

India not against blockchain tech, but cryptocurrency should be monitored, says FM

India is not against the blockchain technology, but currencies have to be monitored by either the government or the central bank, Finance Minister Nirmala Sitharaman said on Saturday. 

Cryptocurrencies can be used for debt settlement in China: Supreme Court

Cryptocurrencies in China can be legally used to settle basic relations debts such as exchange and labor, according to the Supreme People’s Court of China.

Prosecutor says Terra-Luna fugitive Do Kwon should face trial in South Korea: WSJ

The prosecutor leading Korea’s investigation into the Terra-Luna project said its founder Do Kwon should be extradited to Seoul to face trial.

Binance resumes Bitcoin withdrawals after halting transactions twice in 12 hours

Binance resumed withdrawals of Bitcoin around Monday noon in Hong Kong after temporarily halting the service twice within 12 hours due to what the world’s largest cryptocurrency exchange said was a “large volume of pending transactions.”

Bitcoin, Ether fall; XRP leads losers as top 10 tokens lose steam; US equity futures flat

Bitcoin fell in Monday morning trading in Asia after failing to breach the US$30,000 ceiling over the weekend. Ether dropped below the US$1,900 mark.

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.
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Central bank digital assets can legitimize risk in the crypto space, says Standard Chartered’s Geoff Kendrick

In the second installment of a three-part interview series, Geoff Kendrick, head of crypto research and EM FX West at Standard Chartered Bank, talks altcoins, stablecoins and the legitimization of crypto risk through central bank digital assets.
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A tidal wave of wash sales makes up most NFT volume

CryptoSlam introduces new wash trade metrics to help traders and professionals uncover the truth behind NFT sales volumes across major blockchains.

Pepe, Floki to list on Binance exchange

PEPE and FLOKI, the two top trending memecoins that saw the biggest gains on Friday, will be listed on Binance at 12 a.m. Hong Kong time Saturday

Weekly Market Wrap: Bitcoin rises above US$29,000, Ether recaptures US$1,900

Bitcoin inched above US$29,000 on Friday, as concerns over the health of the banking system have been reignited. Industry experts tell Forkast that banking troubles could fuel Bitcoin values, which face significant resistance above US$29,500.

Central Banks’ actions move Crypto; Standard Chartered eyes $100K Bitcoin

Welcome to Forkast IQ, presented by Forkast Editor-in-Chief Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show: JPMorgan Chase set to rescue First Republic Bank. CITI cuts Coinbase stock Weekly crypto market wrap; “US$100K for Bitcoin” – Standard Chartered report; Weekly NFT market […]

Bitcoin rises, Solana leads losses across top 10 cryptos, U.S. dollar slides amid banking sector concerns

Bitcoin rose while Ether fell in Thursday afternoon trade in Asia, with declines across most of the other top 10 non-stablecoin cryptocurrencies by market capitalization. Solana’s SOL token was the biggest loser of the day.

Kenya eyes 3% tax on digital asset transfers

Kenya plans to impose a 3% tax on the transfer of digital assets for the coming budget year

China’s Henan state-owned investment group sets up US$22 mln metaverse fund

Henan Cultural Tourism Investment Group, a state-owned investment enterprise in Central China’s Henan province, has set up a 150 million yuan private equity investment fund to finance metaverse ventures.

How standardized smart financial contracts could prevent crypto’s next black swan

Many tokenized platforms have grave shortcomings, but if better standards could be adopted, the improved transparency can avert future crises, writes Ralf Kubli of the Casper Assn.

Bitcoin rediscovers its mojo as banks stumble, says Standard Chartered’s Geoff Kendrick

Against a backdrop of increasing turmoil in traditional banking, Bitcoin is on a four-month winning run that could, tailwinds permitting, soon turn into a surge.
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Bitcoin, Ether dip following Europe’s rate hikes; US equity futures edge up despite banking woes

Bitcoin dipped below US$29,000 in Friday morning trading in Asia as rate hikes in Europe sent uncertainty to investors. Ether fell below US$1,900.

Israel confiscates suspicious Binance accounts allegedly linked to Islamic State: Reuters

Binance says it works closely with law enforcement to freeze funds and the news agency’s report left out “critical facts.”

Ethereum had over US$635 mln in NFT wash trades in April, CryptoSlam reveals

Nearly 60% of April NFT sales on Ethereum have been flagged as wash trades, with Blur marketplace’s token farming incentivizing the activity, CryptoSlam data shows.

What JPMorgan’s First Republic takeover means for the crypto industry

Top blockchain and crypto news: JPMorgan swoops as another bank falls. NFT market rivalry heats up. Bitget seeks Hong Kong exchange license.

Could Bitcoin mining make renewable energy more profitable?

Andrew Webber of Digital Power Optimization says more renewable energy would get built “if it was more profitable” and that’s where Bitcoin mining can help.

Bitcoin, Ether rise; ADA is day’s biggest gainer; investors await European Central Bank’s interest rate decision 

Bitcoin and Ether rose in Thursday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Cardano’s ADA token saw the day’s biggest gains.

Bitcoin back above $29,000, Ether gains; Matic leads winners on Polygon tools update

Bitcoin and Ether rose in early Thursday morning trading in Asia, with most other top 10 non-stablecoin cryptocurrencies mixed.

Fed hikes rates by a quarter point, Bitcoin drops 0.48%

Bitcoin, the largest cryptocurrency by market capitalization, dropped 0.48% on Thursday, Hong Kong time, after the Federal Reserve’s Federal Open Market Committee said it would raise interest rates by 25 basis points, as widely expected. The latest rate bump brings the target range to 5%-5.25%, the highest since September 2007. See related story: Bitcoin, Ether, […]

Bitcoin, Ether gain most among top 10 cryptos; U.S. stock futures mixed ahead of Fed’s rate decision 

Bitcoin gained 2.18% in 24 hours while Ether rose 1.67%.
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Crypto miner Bitdeer expands to Bhutan, partners state-owned investment arm

Singapore-headquartered cryptocurrency miner Bitdeer Technologies is planning to expand its mining operations to Bhutan and raise up to US$500 million for a fund through a new partnership with the Himalayan kingdom’s state-owned investment company Druk Holding and Investments.

Crypto markets ahead of US Fed decision

Welcome to The Daily Forkast – May 3, 2023 – presented by Megha Chaddah. Crypto markets are holding on to gains despite the sell-off in equities ahead of the US Fed decision. Bitcoin was trading at $28,500 dollars up a solid 2% and Ethereum was up a similar percentage at about $1,860.

Coinbase opens Bermuda-based crypto derivatives exchange amid conflict with U.S. regulators

Coinbase, the publicly listed largest cryptocurrency exchange in the U.S., opened its offshore derivatives exchange in Bermuda on Tuesday.

Biden administration pushes for 30% electricity tax in swipe at crypto miners

The administration of U.S. President Joe Biden is campaigning for a tax on cryptocurrency miners equal to 30% of the cost of the power they use, citing what it calls “negative spillovers” from the industry.

Bitcoin, Ether, Litecoin rise, BNB stumbles; US equity futures flat ahead of Fed interest rate decision

Bitcoin and Ether gained ground in Wednesday morning trading in Asia, with most other top 10 tokens mixed. Litecoin gained, BNB was the biggest loser.

Trading, talent and tech leveling up in NFTs

NFT prices and trading volume are dropping but this could be an indicator of a maturing market.

Bitcoin inscriptions: Are Ordinals a boon or a drag on the network?

Now that the Bitcoin Ordinals genie is out of the bottle, a debate is raging about whether they’re good for the original blockchain and their long-term consequences.

Temasek denies investment in algorithmic crypto developer Array

Temasek, Singapore’s state-owned investment firm, has denied that it had invested in Array, an algorithmic cryptocurrency developer.

Bitcoin, Ether drop; BNB, Polkadot biggest losers in top 10 cryptos; U.S. stock futures weaken

Bitcoin dropped 2.09% in Tuesday afternoon trade in Asia while Ether lost 0.81%. BNB fell 2.93% and Polkadot declined 2.66%.
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Crypto market dips ahead of US Fed meeting

Welcome to The Daily Forkast – May 2, 2023 – presented by Megha Chaddah. The crypto markets fell with Bitcoin dropping as much as 5% at one point in the last 24 hours but has recovered a bit since then, trading now just under the 28,000 dollar mark, down over 2%. Meanwhile, the NFT markets […]

Sotheby’s launches NFT marketplace for transactions on Ethereum, Polygon networks

Sotheby’s, which accounts for 24% of global art auction sales, has launched an online secondary marketplace for its curated NFTs as the 279-year-old auction house for fine art expands its push into digital assets.

Bitcoin, Ether lose ground; Polkadot leads losers among top 10; U.S. equity futures slip

Bitcoin dipped to US$28,000 in Tuesday morning trading in Asia and then fell through that support line later in the morning. Ether and other top 10 cryptocurrencies also fell.

Securities or not, crypto in the US needs new regulations and clearer guidance

CFTC and SEC disagree over whether cryptocurrencies are securities, and two big lawsuits clouding the industry’s future invoke laws that long predate the digital era.
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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.

Bitcoin, Ether fall amid renewed banking sector concerns; BNB is sole gainer in top 10 cryptos

Bitcoin dropped below US$29,000, while Ether fell below US$1,900 on Monday afternoon in Asia. Binance’s BNB was the only token in the top 10 cryptocurrencies to rise.

Bitcoin up on bank jitters, price forecasts; Ether dips, U.S. equity futures flat

Bitcoin edged up on Monday morning in Asia to hold above US$29,000. Ether fell below US$1,900. Most other top 10 non-stablecoin tokens traded lower except BNB.

Why I’m excited about commercial IP NFTs

NFT IP allows traders to multiply their brands and grow. The Nakamigos collection has leveraged this advantage of the technology.

Mad Lads tops weekly NFT sales in first week since launch

Mad Lads has been the best selling NFT collection in the world since its launch that was delayed last week due to a DDOS attack.

Coinbase says SEC’s legal threats punish transparency, undermine public listing process

Coinbase said the Securities and Exchange Commission seems to be undermining its own role as the monitor of companies registering to sell shares to the public

Weekly Market Wrap: Bitcoin flirts with US$30,000, Ether regains US$1,900

Bitcoin rebounded from US$27,000 multiple times this week. Uncertainty over U.S. regulation and geopolitical tensions may continue weighing on the crypto market, industry experts told Forkast.

Bitcoin, Ethereum gain amid banking woes

Welcome to Market Movers – April 28, 2023 – presented by Megha Chaddah. It’s been a wild week in the world of crypto. From fears of collapsing banks to unsubstantiated rumors crashing the price of Bitcoin briefly, the crypto market has somehow found its footing and recovered by the end of the working week. On […]

Bitcoin, Ether rise amid renewed recession fears after weaker-than-expected U.S. GDP

Bitcoin and Ether rose during Asian trading hours on Friday, while the top 10 non-stablecoin cryptocurrencies by market capitalization closed mixed. The SOL token saw the biggest gain. Asian equity markets strengthened after the Chinese central bank boosted short-term cash injections for the 11th day.

HKMA urges local banks to provide services to regulated digital asset firms

Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority, urged local lenders to provide banking services to regulated crypto firms.

Binance says it built 700-member compliance team to handle crypto crime, legal enquiries

Binance said it has more than 700 employees in its compliance team, which includes 170 staff working to combat crypto fraud.

Bitcoin gains after week of bank turbulence, Ether dips, U.S. equity futures lose steam

Bitcoin rose on Friday morning in Asia amid worries about U.S. banks and a possible recession. Ether edged lower. along with most other top 10 tokens.

What the US stands to lose if it keeps heaping scorn on crypto

The current US approach to regulating crypto flies against its history of supporting tech innovation and undermines its own national interest, writes Hamilton Keats of Krayon Digital.

Polygon developers get access to Google Cloud’s node service

Google Cloud has announced that its node hosting service, the Blockchain Node Engine, will be available for developers on the Polygon blockchain. 

Coinbase sues SEC in bid for clarity on crypto rules

Top blockchain and crypto news: Coinbase in court to force SEC’s hand. PEPE surge lifts memecoin mood. China paves CBDC path with payroll.

Bitcoin, Ether inch up; equities strengthen after phone call between China’s Xi Jinping, Ukraine’s Zelensky

Bitcoin and Ether rose during Asian trading hours on Thursday, while most top 10 non-stablecoin cryptocurrencies by market capitalization declined. Cardano’s ADA token saw the biggest gain.

Hong Kong’s SFC to release crypto exchange licensing guidelines in May: Bloomberg

Hong Kong’s Web3 industry can look forward to more regulatory clarity, with the city set to release its cryptocurrency exchange licensing framework in May

Investment bank H.C. Wainwright says ‘crypto winter over,’ rates Coinbase a ‘buy’

New York-based investment bank H.C. Wainwright has initiated a “buy” rating on publicly traded Coinbase Global Inc., the largest cryptocurrency exchange in the U.S., saying the company is poised to benefit from growth in the global digital asset economy as the so-called “crypto winter” of falling prices is over.

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.

Meta’s Zuckerberg says he is keeping focus on metaverse development despite losses

Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg said the social media giant is not moving away from its metaverse focus despite reporting repeated losses in the billions of dollars at its division dedicated to developing the virtual reality online world. 

Bitcoin, Ether rebound after early morning fall; U.S. equity futures gain on Meta outlook

Bitcoin rose above US$29,000 on Thursday morning in Asia, rebounding from an earlier drop. Ether gained. Other top 10 non-stablecoin tokens traded mixed.