NFT buyers dip for a second straight month
In contrast to the rising crypto market, NFT sales have declined significantly in March, but one industry watcher says there’s no need to panic just yet.
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Ronin hack delays Axie Infinity upgrade
Sky Mavis, the developer of the popular blockchain game Axie Infinity, delayed its highly anticipated Origin upgrade in response to the recent hack worth over US$600 million on its Ronin network. See related article: Top NFT game Axie Infinity generated $1.3B in revenue last year Fast facts The Vietnam-based developer’s new Origin upgrade will now…
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BNY Mellon to become custodian for USDC reserves
Circle has selected one of America’s oldest banks, BNY Mellon, as the primary custodian for the world’s second-largest stablecoin USDC’s reserves. See related article: USDC to be 100% backed by cash, US Treasuries Fast facts USDC issuer Circle chief Jeremy Allaire had claimed the stablecoin became 100% backed by cash and short-term treasury bills after…
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South Korean banks seek green light on crypto
The Korea Federation of Banks (KFB) may request South Korea’s incoming presidential administration to approve local banks servicing cryptocurrencies, according to a leaked draft report. See related article: South Korea’s largest financial group mulls crypto ETFs Fast facts KFB, the largest body representing domestic lenders, wrote in its report that banks should be permitted to…
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China’s digital yuan expands to five more cities
Residents in five more Chinese cities were able to access digital yuan wallets starting Thursday, marking a major development for central bank digital currencies (CBDCs) globally. See related article: Asian Games set for digital yuan, metaverse pilots, tech firm claims Fast facts See related article: Digital yuan pilot attracts Chinese province bordering Russia
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Crypto tax in India is now a reality
India’s 30% flat levy on all capital gains made on cryptocurrencies kicked in on April 1 in a development likely to stifle the relatively nascent industry in the country. See related article: India’s crypto tax will incur losses for government, says WazirX CEO Fast facts Finance minister Nirmala Sitharaman has been facing investor backlash over…
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Binance signs on as Grammys’ official crypto exchange partner
The operator of the world’s largest cryptocurrency exchange will become the first-ever official crypto exchange partner for the annual Grammy Awards for musical achievement. See related article: Binance to take $200M stake in Forbes Fast facts Binance will bring various Web 3.0 technology solutions and experiences to the organization’s members, events and initiatives, a press release…
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European Union to track all crypto transfers
European lawmakers have voted to introduce new legislation designed to stop illicit flows amid industry pushback claiming the measures will stifle innovation and infringe on privacy. See related article: EU votes against de facto Bitcoin mining ban Fast facts The proposal requires crypto service providers to collect information on senders and beneficiaries in all crypto…
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How women artists are bridging the NFT gender gap
Despite the promises of decentralized technology, women remain vastly underrepresented in the NFT art world. Forkast talks to artists working to change that.
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Wormhole to bridge Polkadot, Kusama to Ethereum, Solana
Polkadot parachain Acala and its Kusama-based counterpart Karura are integrating with cross-chain bridge Wormhole, bridging its decentralized finance (DeFi) ecosystems with eight major Layer 1 blockchains. See related article: Polkadot is top crypto held by VCs and hedge funds in Q4 2021 Fast facts The Wormhole integration will bridge Acala and Karura to Ethereum, Solana,…