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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.

Mythical Games CEO says U.S. regulatory uncertainty accounted for firm’s conservative stance on crypto

The lack of clarity in crypto rules in the U.S. not only affects exchanges but also this U.S.-based blockchain gaming company, John Linden said.

Mad Lads briefly boosts Tensor’s NFT trading volume past Magic Eden

Tensor topped Magic Eden’s sales volume on Wednesday afternoon in Hong Kong, giving it a brief stint as Solana’s top NFT marketplace. 

US response to crypto is like ‘deer caught in headlights,’ says ex-CFTC chair

Christopher Giancarlo, the former chair of the CFTC, said the U.S. is resisting cryptocurrency innovation due to its threat to vested interests in the financial system.

Bitcoin, Ether, top 10 cryptos rise; Asian equity markets mixed

Bitcoin and Ether rose on Wednesday trade in Asia, along with all top 10 non-stablecoin cryptocurrencies, with Solana and Cardano leading the way.
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Crypto market recovers as earnings calls continue to show positives

Welcome to The Daily Forkast – April 26, 2023 – presented by Jeff Cheung. Most major cryptocurrencies are back in the green as earnings reports from tech giants like Microsoft and Alphabet are showing positive results, outperforming analyst expectations.

South Korea’s cryptocurrency bill gets nod in first phase of review, may pass this year

South Korea’s legislation on how to regulate digital assets passed the first phase of review in the country’s National Assembly on Tuesday.

Binance.US cites ‘hostile’ regulator, yanks US$1.3 billion deal to buy Voyager Digital

Binance.US, a cryptocurrency exchange set up by Binance chief Changpeng Zhao to serve U.S. clients, has pulled out of a US$1.3 billion deal to buy bankrupt crypto lender Voyager Digital, the company said Tuesday, citing a lack of clear regulations in the country for the crypto industry.

Bitcoin bounces back to US$28,000, Ether gains; U.S. equity futures up on tech earnings

Bitcoin rose in Wednesday morning trading in Asia to reclaim the US$28,000 mark, with Ether and all other top 10 non-stablecoin cryptocurrencies moving higher.

Declaring proof of reserves is important, but it’s not enough

‘Proof of reserve’ is the new catchphrase and promise by crypto leaders eager to allay investor fears. But loopholes remain and audits might not mean what you think, writes Anndy Lian.

NFTs: Bear Market or Burst Bubble?

The culture of collecting unique digital assets may be here to stay, but data suggests that NFT prices may continue to fall.

Bitcoin, all top 10 cryptos fall; Asian equity markets drop on rising Covid fears

Bitcoin fell in Tuesday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies. Polygon was the biggest loser followed by Solana.
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Crypto sell off continues; Coinbase asks SEC for answers

Welcome to The Daily Forkast – April 25, 2023 – presented by Jeff Cheung. In an unexpected twist of events, Coinbase is suing the United States Securities and Exchanges Commission after receiving a Wells notice from them just last month. The crypto markets haven’t reacted to this news well, and after a rough start to […]

South Korea indicts Terra co-founder Daniel Shin; Shin rejects accusations

South Korean prosecutors on Tuesday indicted Terraform Labs co-founder Daniel Shin for alleged fraudulent transactions related to the collapse of the Terra-Luna crypto project.

CoinShares says weekly investment in Ethereum-linked products rebounds after hard fork

Ethereum-linked digital asset investment products saw inflows of around US$17 million in the week ending April 21, up from US$300,000 in the previous week, appearing to show investor confidence following the blockchain’s milestone upgrade, Coinshares report shows.

Coinbase ups the ante with SEC, asking court to require crypto clarity from regulator

Coinbase sued the U.S. SEC on Monday, asking that a court require the regulator to publicly respond to the Coinbase July 2022 petition asking for clearer crypto regulation guidelines. 

Bitcoin loses ground, Ether dips even as inflows rise; Litecoin edges up, with halving cited

Bitcoin fell below US$27,500 support on Tuesday morning in Asia. Ether and most other top 10 tokens traded lower amid a broader correction.

Until Web3 offers a better user experience, the masses will stay away

People won’t want to bother with a new technology if it’s painful to use, even if they’re aware of the potential benefits, writes Toby Rush of Redeem.

Japan’s Web3 pivot needs global mindset, flexibility to succeed, says incubator founder

Japan’s welcome mat for Web3 is shifting the tone from “buzzword” to opportunity, but success will hinge on the authorities adopting a global, flexible view toward this new technology, says Yudai Suzuki, co-founder of Fracton Ventures.

Russia is 2nd biggest Bitcoin miner after U.S.: report 

Russia is now the second largest Bitcoin miner after the U.S., according to a report by Russian media Kommersant. 

Memecoin PEPE falls 18% at start of trading week

PEPE, a memecoin launched on April 14, fell 18.81% to US$0.0000002626 in the 24 hours to 7 p.m. on Monday in Hong Kong. The coin is still up over 392% on the weekly chart and has a market capitalization of US$116 million, according to DEXTools.

Bitcoin extends drop, stays below US$28,000; Solana, Polygon leads losers in top 10 cryptos

Bitcoin extended losses in Monday afternoon trade in Asia, along with all top 10 non-stablecoin cryptocurrencies by market capitalization, with Solana and Polygon as the biggest losers.
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India’s finance minister lauds DLT, says crypto regulation does not mean technology control

India’s Finance Minister Nirmala Sitharaman, in commending the potential of distributed ledger technology (DLT), has urged for a global consensus in regulating crypto while emphasizing that regulation did not equate to government control over the technology. 

Crypto leaders need to collaborate with regulators more — for the industry’s own good

A clear and balanced legal framework will encourage more crypto investment, while the industry can promote best practices, writes Mahin Gupta of Liminal.

China’s Changshu city to pay civil servant salaries in digital yuan

State employees in China’s Changshu City will receive their salaries in digital yuan from May, as China’s CBDC expands in daily uses.

Terraform Labs Kwon to get Montenegro court hearing May 11 on passport forgery charges

Kwon Do-hyeong will have a court hearing on May 11 in Montenegro on charges of allegedly attempting to travel using a false passport.