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Alameda says ‘wasn’t us’ amid speculation about BitDAO’s 20% plunge

BitDAO, or BIT, the token supported by crypto exchange Bybit, dropped more than 20% within an hour at one stage around noon on Tuesday in Asia.

DeFi still has a long way to go before mass adoption

Decentralized finance will stay niche unless the sector overcomes its myriad problems, including a lack of a credit system and regulations that inspire greater trust, writes Brian Pasfield.

Seizure, guilty plea in US$3.36 bln stolen Silk Road Bitcoin case

The U.S. Department of Justice revealed on Monday that in 2021 it seized US$3.36 billion worth of stolen Bitcoin from Georgia real estate developer James Zhong.

CZ vs. SBF tweet exchange is no ‘fight,’ Binance CEO claims

Binance chief executive officer Changpeng Zhao (CZ) said in a Twitter thread that he had no intention of picking a fight with FTX CEO Sam Bankman-Fried.

Zuckerberg’s Meta plans to lay off thousands of employees: WSJ report

Meta Platforms Inc. is planning its first significant mass layoff later this week that may affect many thousands of employees.

Markets: Bitcoin, Ether prices fall with most of crypto top 10, Polygon flips Solana

Bitcoin dipped below US$21,000 in Tuesday morning trading in Asia as Ether and most other tokens in the cryptocurrency top ten by market capitalization, excluding stablecoins, lost ground.

Stablecoin, CBDC issues take center stage at Singapore’s Future of Finance Forum

Central bank digital currencies draw fire over inflation, privacy and threat to innovation, as questions raised over status of stablecoins in digital asset ecosystem.

Digital Transformation Boost

How can collaboration help advance digital age and blockchain technologies?

SEC gets more time to file reply briefs in XRP lawsuit against Ripple

The U.S. SEC has received approval from the court to extend the time for all parties to submit reply briefs, in the ongoing lawsuit the SEC filed in 2020 against Ripple.

Markets: Bitcoin, Ether fall; Dogecoin interest fades

Bitcoin and Ether dropped in afternoon trading in Asia along with almost every other top 10 cryptocurrency by market capitalization, excluding stablecoins. MATIC was the only coin to gain.

Hong Kong needs engineering talent to reclaim role as digital asset hub

Hong Kong’s latest FinTech policies indicate it wants to reclaim its position as a hub for cryptocurrencies and digital assets, but that means finding the right people for the job.
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Indian crypto exchange WazirX introduces profit, loss function

WazirX, India’s largest cryptocurrency exchange by trade volume, has introduced a profit and loss function for users to analyze and calculate their investments. 

Bitcoin mining difficulty falls 0.2% in latest adjustment

Bitcoin mining difficulty nudged down 0.2% in Monday’s biweekly adjustment, according to data from BTC.com.

LG Electronics seeks Web3 talent for blockchain, NFT efforts

LG Electronics is recruiting chief technical officers (CTOs) to lead the company’s growing Web3 business.

Half a million users move to decentralized alternative Mastodon following Elon Musk Twitter grab

Amid uncertainty and criticism following Elon Musk’s takeover of Twitter, nearly half a million users have flocked to Mastodon, a decentralized alternative.

Binance to sell FTX token holdings amid questions over trading arm Alameda finances

Binance CEO Changpeng Zhao said Binance will liquidate its remaining FTT tokens issued by the second-largest crypto exchange FTX amid questions over Alameda Research.

South Korea’s online KakaoBank to open accounts for Coinone exchange users this month

KakaoBank, one of South Korea’s online-only banks with nearly 20 million users, said it will start providing accounts for users of Coinone exchange in November.

Markets: Bitcoin, Ether prices pull back after weekend gain on sign U.S. inflation may be easing

Bitcoin and Ether fell in Monday morning trading in Asia as the crypto market gave up some gains made on the weekend on the back of U.S. job numbers on Friday.

Blockchain without cryptocurrencies: How might China’s BSN change Web3?

By excising cryptocurrencies from the ecosystem, crypto-hostile China could steal a march in enterprise blockchain, says Red Date Technology chief Yifan He.

The big problem with Web3

People have been waiting seemingly forever for the arrival of Web3. So why hasn’t it changed our lives yet?

Crypto asset manager HashKey gets Singapore’s in-principle license

HashKey Capital Singapore, an investment arm of Hong Kong-based HashKey Group, said on Friday that it received an in-principle approval for the Capital Markets Services license from the Monetary Authority of Singapore (MAS).

Chainlink, green asset exchange MVGX to explore crypto carbon trading

Singapore blockchain-based carbon credits exchange Metaverse Green Exchange (MVGX) will partner crypto data provider Chainlink to explore tokenized carbon trading.

Markets: Bitcoin, Ether gain; DOGE leads top 10 crypto losses; Hang Seng rises 5%

Bitcoin and Ether gained with mixed results across the top 10 cryptocurrencies by market capitalization, excluding stablecoins. The Hong Kong Hang Seng Index gained 5.30% amid speculation that the Chinese economy will soon reopen.

India forms new crypto advocacy body with Coinbase, Polygon

Cryptocurrency exchanges and Web 3.0 companies, including Coinbase and Polygon, have formed the Bharat Web3 Association in India to strengthen regulation and consumer protection for the industry.

Token price of Ethereum-based play-to-earn company Gala Games falls some 20% after hacking scare

The network says the apparent attack was just a preemptive safeguard against an issue with a cross-chain bridge.

Canada to examine risks from crypto, stablecoins, CBDCs in budget

The Canadian government will begin a consultation on the risks that digital assets and currencies may pose to the country’s traditional financial system.

Dashcam maker Hivemapper issues crypto HONEY for road image contribution

San Francisco-based dashcam maker and decentralized mapping service provider Hivemapper issued cryptocurrency tokens HONEY to reward dashcam users for contributing driving data and road imagery on Friday Hong Kong time, according to a press release shared with Forkast.

Goldman Sachs launches crypto explainer, trend tool for institutional clients

After dabbling in cryptocurrency product offerings, Goldman Sachs is now offering a service to clients to help analyze tokens and market trends.

Crypto fugitive Do Kwon said to be hiding in Europe, mocks ‘cops from world over’ in series of tweets

The South Korean founder of the collapsed Terra stablecoin faces multiple allegations of wrongdoing, the latest being price manipulation.

Curiosity ‘always’ fuels innovation, says blockchain co-creator Stuart Haber 

U.S. computer scientist Stuart Haber, recognized with Scott Stornetta as the co-inventor of blockchain, says he is excited to see the evolution of the technology, not only in the financial sector, but also in entertainment, business, and technology industries.

Bitcoin, Ether prices rise, Polygon leads top 10 in gains, Doge, Shib retreat

Bitcoin and Ether rose in Friday morning trading in Asia. Polygon’s Matic led gains in the top 10 tokens after Instagram said it would use Polygon to integrate NFTs into its platform.

Standard Chartered invests in Partior blockchain payments platform

London-headquartered banking giant Standard Chartered announced on Thursday that it had invested in the blockchain-based interbank settlement platform Partior, a joint venture of JP Morgan, DBS bank and Temasek.

Singapore vs Hong Kong

Hong Kong and Singapore are now locked in a battle over the future of crypto in Asia – but who will emerge victorious?

Singapore still aims to be a crypto hub, minus speculative trading

The Monetary Authority of Singapore (MAS) wants to build the city-state into a “crypto hub” fueled by instant settlements, tokenized assets and programmable money, not “speculating in cryptocurrencies,” Ravi Menon, the central bank’s managing director, said at the Singapore FinTech Festival on Thursday. 

Singapore’s Project Ubin+ to study cross-border FX with CBDCs

The MAS launched Project Ubin+ on Thursday, a collaborative initiative with international partners to explore cross-border foreign exchange settlements using wholesale CBDC.

OpenSea unveils features to freeze stolen NFTs and malicious links

OpenSea will pilot a system that freezes the trading of NFTs involved in suspicious sales while it reviews the transaction.

Digital wallet Cryptillian seeks to back Ripple against SEC in XRP lawsuit

Digital wallet service provider Cryptillian Payment Systems has requested to file an amicus brief to support Ripple Labs Inc. in the latter’s ongoing court battle against the U.S. Securities Exchange Commission (SEC).

Markets: Bitcoin, Ether fall; top 10 crypto mixed following Fed rate hike

Bitcoin and Ether dropped in Thursday afternoon trading in Asia, while the rest of the top 10 cryptocurrencies by market capitalization, excluding stablecoins, posted mixed results.

Crypto leaders differ over Do Kwon blame in May’s market crash

‘Bad actor’ or a ‘sliding market’? Blockchain industry leaders at Hong Kong FinTech Week offer insights into the Terra-LUNA crash.

Binance will re-enter South Korea’s crypto market, CZ says

Binance is preparing to operate in South Korea’s crypto market, said CEO Changpeng Zhao at the Web Summit 2022 held in Lisbon.

Binance considers buying banks, bridging gap between crypto, TradFi

The world’s largest crypto exchange seeks to become a bridge between traditional finance and cryptocurrencies.

Instagram to allow creators to mint and sell NFTs through the platform

Instagram will soon allow creators to mint and sell NFTs through the platform to buyers both on and off Instagram using an ‘end-to-end toolkit.’

Crypto Winter will only get worse as industry adjusts: Tezos cofounder

The ongoing Crypto Winter is ‘only going to get worse’ as the industry is re-evaluated amongst tighter interest rates, the cofounder of Tezos predicts.

How soulbound tokens can lift billions of lives around the world

What are soulbound tokens, and how can they end the ‘credit paradox’ that has been holding back the unbanked masses? Fakhul Miah of CreDA explains.

Singapore fintech fest raises profile of industry that wants to ‘disappear’

Digital asset and blockchain highlights of event draw huge crowds, even as industry figures say they want the technology behind them to become just a normal component of the finance system.

Markets: Bitcoin and Ether fall with crypto top 10 as Fed raises rates 75 bps

Markets: Bitcoin and Ether fall with crypto top 10 as Fed raises rates 75 bps

India’s finance minister urges G20 nations to come on board to regulate crypto

Indian Finance Minister Nirmala Sitharaman has urged all Group of 20 (G20) nations, as well as international bodies like the International Monetary Fund and Financial Stability Board, to come together to help regulate crypto assets. See related article: India’s finance minister sees 46% growth in blockchain technology use in next few years Fast facts Sitharaman […]

The Future of Exchanges

Nasdaq’s Head of Asia Pacific and Japan, Ulf Carlsson, tells us how stock exchanges could learn from crypto exchange operations.

BIS’ ‘Project Mariana’ to explore CBDC integration with DeFi

The Bank for International Settlements (BIS) has launched a new project with the central banks of Singapore, France and Switzerland to study the possibility of integrating some decentralized finance (DeFi) features with central bank digital currencies (CBDCs). See related article: mBridge participants to end domestic payments of foreign CBDCs Fast facts The BIS announced on […]

Hong Kong crypto policy turns on hopes of economic revival

Top blockchain and crypto news: Hong Kong rethinks digital assets. CBDC to debut in India. China’s e-yuan privacy problem.

Payments platform StraitsX to show real-world stablecoin use at Singapore Fintech Festival

Singapore-based StraitsX, a payments infrastructure for digital assets, will pilot stablecoin applications at the ongoing Singapore Fintech Festival. 

Markets: Bitcoin, Ether drop; Dogecoin rally ends

Bitcoin and Ether dropped in Wednesday afternoon trading in Asia amid losses among all top 10 cryptocurrencies by market capitalization, excluding stablecoins, led by Shiba Inu.

Can blockchain tech in green finance attract more investors and deter bad actors?

As governments look towards zero carbon emission goals, new means of creating climate-related financial products are being tested on the blockchain.

Huobi plans to move HQ to the Caribbean, Justin Sun says

Huobi Global, one of the world’s largest cryptocurrency exchanges, plans to move its headquarters to the Caribbean, its new advisory board member Justin Sun said.

NEAR sets up Web3 hub in South Korea, eyes Asia expansion

NEAR Foundation is establishing a Web3 hub in South Korea to expand its allegiance with blockchain projects in Korea and Asia.

NFT sales decline for sixth straight month despite tailwinds

While October saw the emergence of two very popular NFT collections, sales failed to break US$500 million in the lowest figures since July 2021.

Singapore lender DBS explains its DeFi experiments, plans

DBS, the largest bank in Southeast Asia, said it tested trading of foreign exchange and government bonds using permissioned decentralized finance (DeFi) liquidity pools on a public blockchain as part of the city-state’s Project Guardian exploration of blockchain in finance.

DBS bank says it tested blockchain DeFi protocols for forex, bond transactions 

The bank is in the center of developments shepherded by the Monetary Authority of Singapore to explore digital financial technologies emerging around blockchain.

Asia’s largest metaverse Zepeto targets sex abuse, exploitation

Naver Z Corp. announced its partnership with INHOPE to protect youth from sexual abuse and exploitation on the virtual platform.

USDC stablecoin issuer Circle wins Singapore digital payment license

The issuer of the world’s second-largest stablecoin is joining a fleet of companies in the digital asset industry moving into Singapore. What’s the attraction?
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Markets: Bitcoin, Ether prices flat; Dogecoin, SHIB lead gains in crypto top 10

Bitcoin and Ether were little changed in Wednesday morning trading in Asia along with most of the cryptocurrency top 10 by market capitalization, excluding stablecoins.

Down with greenwashing

How can we utilize blockchain technologies to fight climate change as it continues to worsen?

Regulators are your friend, IMF official tells crypto industry

Deputy director of monetary and capital markets at the IMF, Dong He, said at Hong Kong Fintech Week on Tuesday that his message to the crypto industry is to embrace regulation.

Web 3.0 suffers from hype, fragmentation, say industry experts

Interconnectivity is on the way, even as various segments of the Web 3.0 ecosystem are largely disconnected from reality and one another, said Web 3.0 experts at Hong Kong Fintech Week on Tuesday.

mBridge participants to end domestic payments of foreign CBDCs

Bank of Thailand’s Vachira Arromdee said on Tuesday the four central banks in the mBridge CBDC trials agreed to end use of foreign CBDCs domestically.

Markets: Bitcoin, Ether rise; Dogecoin, Shiba Inu biggest gainers in top 10 crypto

Bitcoin and Ether traded up in Tuesday afternoon trading in Asia, while memecoins Dogecoin and Shiba Inu were the biggest gainers among the top 10 coins by market capitalization excluding stablecoins.

India seeks info from crypto exchanges as it mulls GST on asset class: report

India’s Central Board of Indirect Taxes & Customs (CBIC), responsible for policy formulation and collection of indirect taxes like the goods and services tax (GST), has asked major cryptocurrency exchanges to provide details on the type of digital coins and tokens being traded and their valuation. 

Coinbase seeks to weigh in on XRP lawsuit to support Ripple against SEC

Crypto exchange Coinbase has requested to file an amicus brief in support of Ripple to weigh in on the ongoing lawsuit between the SEC and Ripple.

JP Morgan, Standard Chartered execs disagree over Bitcoin’s significance

JPMorgan Chase and Standard Chartered execs were in disagreement at Hong Kong Fintech Week over how significant Bitcoin and the wider crypto industry are.

S.Korea sees passing crypto investor protection as a priority: report

The country looks to pass an initial bill that focuses on protecting digital asset investors and preventing unfair trade acts, ahead of wider legislation.

Singapore’s Tokenize crypto exchange opens platform for institutional investors

Cryptocurrency exchanges in Singapore are shifting focus to heavy-hitter investors, such as family offices and financial institutions, in line with the central bank’s warnings about the risks in retail crypto trading.

Bankman-Fried calls wealth-based barriers to crypto investment classist, racist

The billionaire founder of crypto exchange FTX, Sam Bankman-Fried, criticized regulations in Hong Kong and elsewhere that limit access to crypto investment to wealthy investors.