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Top firms invest US$6B in blockchain startups: Blockdata research

Forty top corporations invested about US$6 billion into blockchain startups between September 2021 and June 2022, according to an analysis by blockchain data platform Blockdata. As some investments involved participation from multiple investors, Blockdata said it was not clear how much each company invested in one particular project. See related article: Korea Blockchain Week points […]

Australian superannuation and institutions await clarity to invest in crypto

There’s growing interest from Australian self-managed super [retirement] funds (SMSF) to invest in crypto but are being let down by a lack of regulatory clarity, Caroline Bowler, chief executive officer of Australian exchange BTC Markets said at an industry panel on Wednesday. See related article: Australia’s Holon Global got ahead of BlackRock with funds shrugging […]

Jump Crypto to revamp core part of Solana’s infrastructure

Jump Crypto, the crypto arm of high-frequency trading firm Jump Trading Group, announced on Tuesday plans to develop a new open source validator client for the Solana network to boost throughput and reliability. See related article: Solana validators complete restart; Laos ends crypto ban Fast facts Jump Crypto will “propose a major upgrade to Solana’s […]

Huobi to end crypto derivatives trading in New Zealand

Seychelles-based cryptocurrency exchange Huobi Global will cease crypto derivatives trading services in New Zealand from Tuesday next week — only months after launching in the country – according to a company blog post. See related article: Huobi closes Thai crypto unit, regulator revokes license Fast facts From Aug. 23, Huobi will classify New Zealand as […]

SEC files brief on Hinman speech as XRP lawsuit drags on

The U.S. Securities and Exchange Commission has fought back in its lawsuit against Ripple Labs with a reply brief in support of its objections to orders that asked the SEC to disclose drafts of a 2018 speech made by former SEC director William Hinman. See related article: Judge grants Ripple’s request to review videos of […]

Tencent’s Huanhe allows NFT refunds, halts further sales

Tencent’s non-fungible token (NFT) marketplace Huanhe says it will allow buyers to refund purchased NFTs but will no longer issue the digital assets, citing a “focus on the company’s core strategic considerations.” See related article: Chinese e-commerce giant JD.com offers NFTs despite state media criticisms Fast facts The marketplace’s app will remain, but it will […]

Fed issues guidelines for crypto banks to enter central banking system

The U.S  Federal Reserve published what it called “final guidelines” for how crypto banks could be granted “master accounts” that are needed to transact directly with the Fed and the broader global banking system.  See related article: Federal Reserve to taper bond purchases, prompting concerns over BTC impact  Fast facts The Fed referred to these […]

Bitcoin miner PrimeBlock ditches SPAC listing plan

Bitcoin miner Prime Blockchain Inc., also known as PrimeBlock, has dropped its public listing plan via a blank-check company merger valued at US$1.25 billion, joining a number of crypto firms that have delayed or canceled similar listing plans. See related article: Markets: Bitcoin, Ether fall; Dogecoin outperforms, Cardano edges higher Fast facts PrimeBlock and 10X […]

Markets: Bitcoin, Ether fall; Dogecoin outperforms, Cardano edges higher

Bitcoin and Ether fell amid a mixed performance from the rest of the tokens in the top 10 by market capitalization on Wednesday morning in Asia. Leading memecoin Dogecoin outpaced the rest on the list, continuing its recent price run-up that took it back into the top 10. See related article: Markets: Bitcoin, Ether fall […]

Polkadot Defi hub Acala burns some 1.3 bln mis-minted stablecoins

Acala Dollar (aUSD) burned over 1.29 billion aUSD minted in its liquidity pool and traded higher on the day at US$0.91 at 5 p.m. Hong Kong time on Tuesday, up from a low of nearly zero on Monday. See related article: Polkadot-based stablecoin Acala Dollar depegs after a breach Fast facts Over the weekend, exploiters […]

Crypto exchanges’ race to the bottom on fees scalps Eqonex

Nasdaq-listed Eqonex’s decision to shutter its low-fee crypto exchange business to focus on asset management and custodial services may prompt similar moves in the highly commoditized industry.

Eqonex closing exchange; Guo’s fork plans

Welcome to The Daily Forkast – August 16, 2022 – presented by Joel Flynn. Coming up on today’s show: Eqonex to focus on asset management and custody. Chandler Guo – a man on a mission.  Total value locked taking a knock. We’ll have more on those stories — and other news shaping the cryptocurrency and […]

U.S. Treasury overstepping authority in Tornado Cash sanction, says advocacy group Coin Center

The U.S. Treasury may have overstepped its legal authority by sanctioning cryptocurrency mixer Tornado Cash, said crypto advocacy group Coin Center. See related article: Circle freezes smart contract addresses linked to blacklisted Tornado Cash Fast facts See related article: Ronin hack proceeds seen headed to Tornado Cash

Celsius has US$2.8B in crypto liabilities: court filings

Recent court filings from law firm Kirkland & Ellis show that crypto lending platform Celsius has US$2.8 billion in crypto liabilities. The documents suggest that the crypto lender might run out of operational cash by October. See related article: Celsius on thin ice well before its bankruptcy: CNBC report Fast facts Celsius filed for Chapter […]

Crypto lender Hodlnaut seeks judicial management for protection against creditors

Singapore-based cryptocurrency lender Hodlnaut has filed an application with the Singapore High Court to be placed under judicial management, which could provide the company “the breathing space to focus our efforts on the recovery plan to rehabilitate the company,” Hodlnaut said on Tuesday. See related article: Crypto lender Hodlnaut halts withdrawals, ends token swap feature […]

Markets: Bitcoin, Ether fall in Asia trade amid growing concern about China’s economy

Bitcoin and Ether fell along with most other cryptocurrencies on the top 10 list by market capitalization as concerns spread across capital markets about the housing slump in China, where real estate prices have fallen for 11 months and threaten to undermine the world’s second largest economy. See related article: Markets: Bitcoin, Ether fall; memecoins […]

Shareholders ask Zipmex CEO to step down amid restructuring

The chief executive officer of troubled crypto exchange Zipmex is being asked to resign by shareholders and potential investors, citing Marcus Lim’s management decisions that led to a severe cash crunch, while the company was granted a three-month moratorium to try to restructure. See related article: Why Singapore may be the ideal place for companies […]

Binance receives in-principal approval to operate in Kazakhstan

The world’s largest cryptocurrency exchange, Binance, has received in-principal approval to operate a digital asset trading facility and provide custody services in Kazakhstan from the Astana Financial Services Authority (AFSA), the company announced on Monday. See related article: Crypto mining’s Great Migration continues — out of Kazakhstan Fast facts Binance is still required to complete […]

Establishing standards will be key to the metaverse’s future success

Virtual worlds currently exist in silos, and there is no easy way to communicate between ecosystems — which limits their value, writes Witek Radomski of Enjin.

Investors yank out US$29 mln this month from Bitcoin: CoinShares

Bitcoin outflows totaled US$21 million, bringing month-to-date outflows to US$29 million, even as short-Bitcoin positions witnessed minor inflows of US$2.6 million, according to digital asset manager CoinShares. See related article: Markets: Bitcoin, Ether fall; memecoins lose steam, BNB edges higher Fast facts Investors pulled out US$17 million from digital asset investment products last week, James […]

Markets: Bitcoin, Ether fall; memecoins lose steam, BNB edges higher

Bitcoin and Ether fell along with most other tokens in the top 10 by market capitalization on Tuesday morning in Asia. Memecoins also lost ground after a recent run-up. See related article: Markets: Bitcoin, Ether, DOGE fall amid slowing activity in China, SHIB edges up Fast facts Bitcoin traded at US$24,136 at 8 a.m. in […]

Bitcoin should be higher?; Memecoins on a tear

Bitcoin and Ethereum

Australia’s Holon Global got ahead of BlackRock with funds shrugging off crypto winter

Australia’s retirement fund industry, the world’s fifth largest at US$2.3 trillion, is one future target for investment funds offering cryptocurrencies.

Markets: Bitcoin, Ether, DOGE fall amid slowing activity in China, SHIB edges up

Bitcoin and Ethereum fell in late evening trade in Hong Kong as appetite for risk assets tapered in the wake of data showing that China’s economic activity slowed across the board in July. Dogecoin (DOGE) reversed gains from the morning, while Shiba Inu token (SHIB) edged up. See related article: Markets: Bitcoin little changed, Ether […]

Why crypto firms should embrace regulations and compliance 

Regulatory compliance will be critical to improving crypto’s ‘Wild West’ image and public acceptance, writes Karen Er and Benjamin Bai of Amber Group. Here’s why.
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Judge grants Ripple’s request to review videos of SEC officials

U.S. judge Sarah Netburn on Sunday granted Ripple Labs’ motion to serve two subpoenas to authenticate seven video recordings in which U.S. Securities and Exchange Commissions officials made public remarks. See related article: XRP trades down 3.5% after Ripple unlocks 1 billion tokens from escrow Fast facts The judge’s order comes in response to Ripple’s […]

ETH futures contracts open interest on Binance breaks 8-month high: Glassnode

Ethereum futures contracts open interest reached an eight-month high of over US$3.1 billion on Binance on Sunday, Glassnode said on Twitter. See related article: Markets: Bitcoin little changed, Ether dips below $2,000, Memecoins surge Fast facts See related article: Privacy protocol Monero completes upgrade to make transactions more private

Privacy protocol Monero completes upgrade to make transactions more private

Monero completed its hard fork for a network upgrade on Saturday in an attempt to add more privacy to transactions on the protocol. See related article: Ransomware attacks are growing in sophistication. What can stop them? Fast facts Monero Sunday said that the network is “now more private and efficient with ringsize 16, Bulletproofs+, and […]

Polkadot-based stablecoin Acala Dollar depegs after a breach

Stablecoin Acala Dollar (aUSD) lost its parity with the U.S. dollar following a breach over the weekend, but its price has since begun to bounce back. See related article: Axie Infinity blockchain Ronin hacked for over $600M Fast facts Cryptocurrency analyst @Alice und Bob tweeted that the depeg was caused by US$1.2 billion of aUSD mistakenly […]

Markets: Bitcoin little changed, Ether dips below $2,000, Memecoins surge

Bitcoin flirted with US$25,000 over the weekend while Ethereum broke through the US$2,000 barrier before both lost steam in early trading in Asia on Monday. Leading “memecoin” tokens Dogecoin (DOGE) and Shiba Inu token (SHIB) jumped, with DOGE re-entering the crypto top 10 by market cap. See related article: Markets: Bitcoin dips, Ether little changed; […]

Reality intrudes: How TradFi banks can help build the metaverse economy

The crypto winter may have chilled many in Web3, but metaverses are an increasingly hot prospect in traditional finance, says DBS Bank’s legal chief

Crypto’s Institutional Boost

Crypto’s institutional boost is on the rise, meanwhile, Australia is proving to attract the crypto sector.

Huobi looks to sell stake that values exchange at US$3 bln, Bloomberg reports

Leon Li, the founder of China cryptocurrency exchange Huobi, is seeking to sell a 60% stake in the company that would value the business at US$3 billion, according to a Bloomberg News report that cited people familiar with the matter. See related article: Sam Bankman-Fried’s Voyager debt emerges; Celsius reshuffles board Fast facts See related […]

Markets: Bitcoin dips, Ether little changed; Huobi Token surges amid stake sale speculation

Bitcoin fell while Ethereum traded little changed on Friday afternoon in Asia. Huobi Token, the native coin of China crypto exchange Huobi, jumped 18.9% in the last 24 hours after Bloomberg reported its founder was seeking to sell a majority stake in the business. See related article: Markets: Bitcoin, Ether retreat as investors digest inflation, […]

BlackRock backflips on Bitcoin as latest institution to see promise in crypto

Something of a sea change? Financial institutions that once turned up their noses at cryptocurrencies are now figuring out ways to get access for their clients.

India authorities block crypto exchange Bitbns’ bank account

Indian crypto exchange Bitbns said on Thursday that withdrawals in Indian rupees (INR) have been delayed as law enforcement officers have blocked its bank account.  See related article: India authorities freeze Vauld exchange’s assets worth $46.5 mln Fast facts “If a cybercrime case is raised for say even an amount of 10,000 Indian rupees (US$125), […]

Philippine central bank halts crypto service provider applications for 3 years

The Bangko Sentral ng Pilipinas (BSP) slaps a moratorium on new virtual asset service provider (VASP) license applications starting Sept. 1.

Korea Blockchain Week points to games leading the way into a Web3 savvy world

Follow the money? Korea Blockchain Week concludes this weekend in Seoul and one of the overarching themes is enthusiasm for blockchain-based gaming as the key to opening up a Web3 world to a broader audience.

Bitcoin miner Hut 8 shares gain on revenue, outlook – despite Q2 profit slump

Crypto mining slump? Canada-based company booked 31% revenue growth on year, expanded Bitcoin holdings, and plans to ramp up mining capacity this year. Other crypto miners seem to be following suit.

No ‘conclusive evidence’ that US$6 mln Solana hack caused by loophole: Slope

Solana-based wallet Slope said on Thursday there is no “conclusive evidence” to connect its mobile wallet’s loophole with Solana’s recent breach, although 1,400 wallets connected to the loophole were drained. See related article: Seed-phrase leak from crypto wallet Slope prompts Solana hack Fast facts See related article: Solana blames Slope for exploit

Ethereum Merge may be ahead of schedule

Ethereum’s long-awaited transition to proof-of-stake (PoS) — known as “the Merge” — could be running ahead of schedule to occur on Sept. 15 or 16, according to Ethereum educator and cybersecurity professional Anthony Sassano. See related article: Ethereum will soon turn 7 — and its upcoming ‘Merge’ will be well worth the wait Fast facts […]

India authorities freeze Vauld exchange’s assets worth $46.5 mln

India’s Enforcement Directorate (ED), the country’s economic crime unit, on Thursday froze 3.70 billion rupees (US$46.5 million) in assets at the struggling cryptocurrency exchange Vauld, local media reported citing unnamed sources. See related article: India crypto traders try to dodge fallout from WazirX woes, spat with Binance Fast facts The move comes days after the […]

Markets: Bitcoin, Ether retreat as investors digest inflation, Blackrock developments

Bitcoin fell back in Asia trading after setting a two-month high of US$24,822 overnight following news BlackRock Inc., the world’s largest asset manager, had launched its own Bitcoin fund. Ethereum followed a similar track, but held some of its gains after hitting a six-week high of US$1,927. Both crypto and equity markets had risen earlier […]

Indian authorities probe alleged $125 mln money laundering cases involving crypto, report says

India’s Enforcement Directorate is investigating at least 10 cryptocurrency exchanges for alleged money laundering, according to The Economic Times

Simping in Web3 to follow the DAO of Irene

Can blockchain technology help starstruck little guys profit from being superfans of popular e-girls? Joel Stein joins Irene Zhao’s IreneDAO to find out.

Diving into Web3 at Korea Blockchain Week

Today’s special episode of The Daily Forkast, we take a deeper on location in Seoul, at the sold-out Korea Blockchain Week.

Limit crypto expansion in developing countries, urges U.N. agency

The United Nations Conference on Trade and Development (UNCTAD) has urged limits on cryptocurrencies across developing nations, in a series of policy briefs released on Wednesday. See related article: IMF says crypto crash hasn’t quite harmed broader financial system Fast facts The UNCTAD, part of the UN Secretariat, said cryptocurrencies could curb the effectiveness of […]

Markets: Bitcoin, Ether rise on slower inflation, Ethereum’s completed test run ahead of PoS merge

Bitcoin and Ethereum rose, along with nearly all other top 10 cryptocurrencies, in Thursday afternoon trading in Asia after the U.S. reported slower inflation in July and as Ethereum completed a test run for its upcoming shift to the proof-of-stake (PoS) model. See related article: Markets: Bitcoin, Ether rise with equities as US inflation shows […]

South Korea’s top financial regulator to accelerate new crypto legislation

A task force comprising private-sector experts and relevant ministries will “expedite the review process of bills on virtual assets,” said chairman of South Korea’s Financial Services Commission (FSC) Kim Joo-hyun at Thursday’s National Assembly meeting. See related article: South Korea’s all-encompassing crypto law is coming — what we know so far Fast facts Kim said […]

Binance-incubated Injective Labs raises US$40 mln

Pantera Capital-backed Injective Labs has raised US$40 million to be used to create blockchain optimized for financial applications, it said in a statement.  See related article: Singapore DeFi derivatives exchange SynFutures closes US$14M fund raise Fast facts The funding round was led by Jump Crypto and BH Digital, the crypto arm of hedge fund manager […]

Roblox to test immersive advertising on gaming platform

Roblox CEO Dave Baszucki said on Wednesday the metaverse platform will begin testing an immersive advertising system later this year as a potential means to increase revenue. See related article: Naver’s Zepeto metaverse starts blockchain initiative with Solana Fast facts See related article: How can I become a metaverse real estate mogul?

Klaytn chief says reducing ‘human elements’ can prevent hacks

After high-profile cyberattacks on decentralized apps, the blockchain industry is in a hurry to ramp up security. Sam Sangmin Seo, head of Klaytn, tells Forkast that minimizing human error may be the key.

Binance to support Ethereum’s PoS Merge, evaluate new forked tokens

Binance will support Ethereum’s “Merge,” expected in September, and will evaluate if it would list any newly forked tokens, the world’s largest cryptocurrency exchange by trading volume said on Wednesday. See related article: USDC, Tether announce support for Ethereum proof-of-stake Fast facts Binance said it is closely monitoring the development of the merge, which could […]

Despite the bear market, enterprise blockchain has nothing to fear

Crypto’s volatility may be top of mind right now, but blockchain’s practical uses will be the industry’s future, writes Johannes Schweifer of CoreLedger.

Coinbase under investigation by SEC, quarterly report reveals

Nasdaq-listed Coinbase Global is under investigation by the U.S. Securities and Exchange Commission (SEC) for its token listing processes and its staking programs and yield-generating products, according to the company’s most recent quarterly report. See related article: Former Coinbase manager arrested on insider trading charges Fast facts “[Coinbase] has received investigative subpoenas and requests from […]

Markets: Bitcoin, Ether rise with equities as US inflation shows signs of slowing

Bitcoin, Ethereum and all other top 10 cryptocurrencies rose in tandem with U.S. equities markets overnight as consumer data showed U.S. inflation slowed in July. Polkadot surged after announcing a tie-up in decentralized finance services. See related article: Markets: Bitcoin, Ether fall in general sell off; Solana takes hit, BNB stumbles Fast facts Bitcoin changed […]

HKMA announces competition to promote CBDCs

Hong Kong’s de-facto central bank, the Hong Kong Monetary Authority (HKMA), has added a central bank digital currency (CBDC) section to an annual business competition in the city in order to encourage research into the use cases of digital currencies. See related article: Hong Kong to launch US$637 mln tech fund for startups: report Fast […]

Binance-WazirX spat heats up as investors yank funds from Indian exchange

Top blockchain and crypto news: Binance spurns WazirX amid India probe. BlackRock bets on Coinbase. Crypto influencers in China’s crosshairs.

WazirX issues warning; Stablecoin giants back Merge

WazirX users head for exits amid a dispute between Binance. Meanwhile, Circle and Tether announce support for the new ETH P-O-S.

Markets: Bitcoin, Ether fall in general sell off; Solana takes hit, BNB stumbles

Bitcoin and Ethereum fell in Wednesday afternoon trading in Asia, with almost all top 10 cryptocurrencies by market cap in the red. Solana was the biggest mover among the major coins, dropping 5.94% in the past 24 hours. See related article: Markets: Bitcoin falls as crypto market loses steam, equities dip ahead of inflation data […]

India crypto traders try to dodge fallout from WazirX woes, spat with Binance

What’s a crypto trader to do when the government freezes exchange assets, sparking a war of words between supposedly ‘merged’ exchanges?

India’s CoinSwitch to fund Web 3.0 startups

Indian crypto exchange CoinSwitch has introduced a Web3 Discovery Fund with initial capital of US$10 million to back early stage startups. See related article:  CoinSwitch Kuber launches rupee index for Indian crypto market Fast facts The Web3 Discovery Fund will curate portfolio startups and provide single-window access to marquee investor partners, such as Tiger Global, […]

India’s WazirX says it has no-tolerance policy on illegal activities

Zanmai Labs Private Limited, the firm operating Indian cryptocurrency exchange WazirX, said Tuesday it has a no-tolerance policy towards any “illegal activities”. Users agree to use the exchange in accordance with applicable laws, the company said in a statement. See related article: Tax authorities recover US$9M from India’s biggest crypto exchanges Fast facts WazirX, one […]

Vitalik Buterin says he used Tornado Cash to donate to Ukraine

Amid debate over the U.S. Treasury Department’s banning of the crypto mixer, the Ethereum cofounder said he used the service to protect recipients.

Iran pays US$10 mln import order with crypto for 1st time: report

Iran has made the country’s first cryptocurrency payment with a US$10 million import order this week, which could be an option for the country to bypass broad trade embargoes, according to a media report. See related article: Crypto exchange Kraken reportedly under investigation for Iran sanctions breach Fast facts See related article: Is cryptocurrency a […]

USDC, Tether announce support for Ethereum proof-of-stake

Two of the largest stablecoin issuers — Tether and USDC — announced Tuesday that they will support Ethereum’s proof-of-stake (PoS) chain, as Ethereum’s “Merge” looms and crypto miners are banding together against the abandonment of mining.  See related article: Prominent Chinese ETH miner plans proof-of-work fork amid The Merge Fast facts See related article: Ethereum […]

Reddit teams up with FTX to innovate community points

Reddit has partnered with cryptocurrency exchange FTX to integrate the social network’s Community Points feature with FTX Pay to allow Reddit users to buy Ether on the app. See related article: Instagram expands NFT platform to 100 countries Fast facts FTX Tuesday said the partnership enables Reddit users to purchase the second-largest crypto by market […]

Naver’s Zepeto metaverse starts blockchain initiative with Solana

South Korean metaverse platform Zepeto has teamed with Solana and Web 3.0 developer Jump Crypto to construct ZepetoX, a cryptocurrency-based metaverse project, according to a press release. See related article: HYBE, Softbank invest big in Zepeto metaverse creator Naver Z Fast facts ZepetoX aims to establish a 3D open-world platform where creators and users can […]

Markets: Bitcoin falls as crypto market loses steam, equities dip ahead of inflation data

Bitcoin and Ethereum fell as most of the top 10 cryptocurrencies gave up ground made earlier in the week. BNB was the exception, posting a slight gain to round out a 15% price increase in the past seven days. See related article: Markets: Bitcoin loses steam, Ether continues run higher in late Asia trading Fast […]

Thailand’s central bank to get more power in crypto regulation overhaul: report

Thailand’s central bank will receive more power as the South-East Asian nation steps up regulation of digital assets, said Thai Finance Minister Arkhom Termpittayapaisith. See related article: Thailand bans Bitcoin and crypto payments Fast facts Thailand plans to tighten its supervision of platforms and exchanges that offer trading in cryptocurrencies and other digital assets, Bloomberg […]

Digital dollar push; Tornado Cash blacklisted

Welcome to The Daily Forkast – August 9, 2022 – presented by Angie Lau. Coming up on today’s show: US lawmakers aim to push Fed on digital dollar. Circle freezes smart contract addresses linked to blacklisted Tornado Cash. Also, Hodlnaut freezes withdrawals, swaps and deposits. Zipmex to release specific amounts of Bitcoin and Ether. And […]

India’s WazirX to delist EasyFi

Indian cryptocurrency exchange WazirX will delist and cease trading on all trading pairs for EasyFi (EZ) on Aug. 11. It will continue to support withdrawals of these tokens from WazirX until Nov. 12.  See related article: Binance to stop off-chain transfers with India’s WazirX Fast facts WazirX periodically reviews each digital asset it lists and […]