Archives

Blockchain-based Service Network (BSN) soft launch is the first attempt to roll out the state-backed ‘internet for blockchain’ outside of the Chinese mainland.

As the trading volume in non-fungible tokens begins to slow down from recent record heights, leading NFT marketplace OpenSea has been rocked by an insider trading scandal involving a senior team member. Fast facts The company, dubbed “the eBay of NFTs,” issued a statement yesterday acknowledging it became aware on Tuesday that an employee had […]

Blockchain and tokenization are transforming how real estate can be bought and sold. Here is how one fintech startup in Asia is using digital fractionalization to raise capital.

Solana validators complete restart also Laos ends crypto ban

Top blockchain and crypto news: Walmart dispels Litecoin hoax. Cardano’s real work begins. Beijing bears down on NFTs.

In his testimony before the Senate Banking Committee, Gary Gensler, chairman of the U.S. Securities and Exchange Commission, said that Coinbase lists “dozens of tokens that may be securities.” Fast facts In response to Senator Pat Toomey’s questions about whether cryptocurrencies classify as securities, Gensler said “very many” of the cryptocurrencies, including stablecoins, are in […]

Despite widespread criticism of non-fungible tokens (NFTs) that has emerged in Chinese state-owned media, the 2022 Asian Games has announced the sale of its first NFT collection. Fast facts Organizers of the games, set to take place in September 2022 in Hangzhou, the capital city of the eastern province of Zhejiang, announced in a social […]

SOL had been on a tear but is now losing ground. Is Solana a victim of its own success — or does the network have deeper problems?

Three banks — the Bank of China, Singapore’s DBS and HSBC — have partnered with the Global Shipping Business Network (GSBN), a Hong Kong-based non-profit consortium that recently launched a blockchain-based trade platform, to form a trade finance advisory group, according to a media release shared with Forkast.News today. Fast facts Trade finance — the […]

Amid the country’s ongoing Senate inquiry into crypto regulation, the Reserve Bank of Australia has posted a job advertisement for a position within its central bank digital currency research team. Fast facts A successful applicant would join a new cross-disciplinary team to research “whether there is a case for a CBDC in Australia, and if […]

The government of Laos has authorized six firms to trade and mine cryptocurrencies, ending a ban imposed in 2018, according to a recent notice from the prime minister’s office.  Fast facts Laos had implemented a complete ban on cryptocurrencies three years ago, including on trading and mining activities. As recently as last month, the country’s […]

Mid-sized crypto exchange Foblgate announced the closure of its Korean won (KRW) trading functions in advance of a government mandate banning digital asset platforms from operating cash-to-crypto services without a local bank partnership. Fast facts Foblgate announced it is temporarily suspending its KRW withdrawal, deposit and trading market between cryptocurrencies and the Korean won. Instead, […]

FTX hit by hack rumor meanwhile Korea updates crypto death note

Financial authorities reveal an updated list of virtual asset platforms that have complied with new regulations.

Huobi Ventures, the investment arm of cryptocurrency exchange Huobi, today announced the launch of a US$10 million “GameFi” fund to invest in early-stage projects that integrate blockchain gaming and decentralized finance (DeFi). Fast facts Huobi’s new GameFi fund follows the launch of its US$100 million DeFi fund in May and comes amid increasing mainstream interest […]

A tourist spot in South China’s Hainan province to hand out digital yuan, while Shenzhen tests adoption for Hong Kong residents.

More provinces in China are putting new limits on the cryptocurrency mining sector, as the country works toward its carbon neutrality goals and concerns over cryptocurrency trading loom. Fast facts Authorities in North China’s Hebei province today issued a notice to crack down on cryptocurrency mining and trading activities, saying that crypto mining consumes huge […]

Scams and fake news have long dogged the crypto world. This week saw two major blockchain companies and a global retailer get swept up by hack rumors or hoaxes.

Florida-based non-fungible token (NFT) platform Recur announced it has received backing from Steve Cohen, owner of Major League Baseball’s New York Mets, in its US$50 million series A funding round. Fast facts The financing round, which valued Recur at a US$333 million post-money valuation, was led by Digital, a metaverse investment platform backed by Cohen’s […]

In the latest response to a growing interest in non-fungible tokens, Beijing Business Today faults an art marketplace.

Ernst & Young, one of the Big Four consulting multinationals, announced today it has integrated India-based Polygon, a Layer 2 Ethereum scaling solution, to allow its corporate clients to process blockchain-based transactions on the Ethereum mainnet. Fast facts EY has connected the public Polygon commit chain with EY’s blockchain services including EY OpsChain and EY […]

Ahead of the U.S. Banking Committee’s hearing on the “Oversight of the U.S. Securities and Exchange Commission” today, SEC Chairman Gary Gensler reiterated his call for crypto platforms and projects that have securities to register with the agency. Fast facts In prepared remarks, Gensler emphasized the concerns he sees over the lack of investor protection […]

Institutional investors continued to buy into Solana investment products despite the market correction last week, according to a report by digital asset manager CoinShares. Fast facts Solana prices, which have soared by over 13,000% this year, reached an all-time high of US$213.47 on Sept. 9, according to CoinGecko data. Solana briefly overtook XRP to become […]

Broctagon Fintech Group is launching what it hopes will become a new global standard for cryptocurrency exchanges to reduce price discrepancies. Will it work?

CrossTower became the second international crypto exchange to enter the Indian market last week after Binance made its entry by acquiring WazirX in 2019.

A sister paper of the People’s Daily, Securities Times, published an opinion piece to criticize non-fungible tokens (NFTs) as hype and suggested the digital assets should serve the real economy by tokenizing actual assets. Fast facts The article offers as an example Justin Sun’s NFT purchase of a digital avatar for US$10.5 million and the […]

E-CNY problems to be solved, also China sees warning over NFT hype

The Miss Universe Thailand 2021 pageant has partnered with Bangkok-based crypto exchange Bitkub to feature non-fungible tokens (NFTs) as part of the competition, Bitkub announced. Bitkub claims the event will mark the first NFT beauty pageant. Fast facts Bitkub will mint NFT collectible cards of the pageant contestants. The company also will provide participants with […]

A few altcoins managed to stand out coming into the working week as Solana’s tear comes to an end.

In this Forkast.News explainer, learn why blockchains with smart contract capability are surging in popularity and the new darlings of investors.

PBOC still working out regulatory rules, acceptance environments and payment systems.

Iran, which imposed a temporary ban on Bitcoin mining a few months ago, continues to crack down on illegal crypto mining operations, closing down thousands of unauthorized mining facilities, according to local media reports. Fast facts The Iran Power Generation, Distribution and Transmission Company, also known as Tavanir, told the state-run ISNA that it had […]

Chinese e-commerce giant Alibaba is sparing no efforts in riding the non-fungible token (NFT) wave, with its online retailer Tmall selling out a new collection of NFTs featuring mooncakes — a signature snack made to celebrate the Mid-Autumn Festival that falls on Sept. 21 this year. Fast facts Tmall has issued “mooncake NFTs” built with […]

The platform reports more users than WazirX and CoinDCX, and aims to make crypto trading as easy as ordering food online.

Crypto in 2021 is like the early days of the internet, writes Hisham Khan of Aldrin. Here’s why the quality of user experience will decide the industry’s future.

Why is Axie Infinity so popular, and what is the potential of play-to-earn gaming? Two venture capitalists share insights on Asia’s special place as GameFi’s hub.

Cardano smart contracts set for Sunday also CrossTower launches in India

In another example of harnessing blockchain technology in the legal world, the Zhejiang Patent Office launched China’s first intellectual property blockchain certification platform on Thursday in Hangzhou, Zhejiang Province’s capital city. Fast facts The platform provides users with a blockchain certification after they upload pictures or description documents of their original creation, such as art […]

Payments giant Mastercard announced it is extending its reach into the realm of cryptocurrency with the acquisition of CipherTrace, a blockchain analytics startup, for “greater security, transparency and trust to digital assets across the ecosystem.” Fast facts CipherTrace, which calls itself the world’s first blockchain forensics team, provides cryptocurrency tracking and investigation services. It launched an […]

Cardano’s Alonzo hard fork will bring smart contracts and NFT support to the world’s third-largest blockchain. What will it mean for the crypto market?

Two of Australia’s “Big Four” banks — National Australia Bank and Westpac — have hit back at criticism they are suppressing competition by refusing to do business with cryptocurrency providers in the country, according to a report. Fast facts While neither of the banks have formal policies excluding crypto businesses, NAB chief executive Ross McEwan […]

The Sandbox, Animoca Brand’s subsidiary for decentralized virtual gaming, announces partnership with animation studio in Korea.

Football giant Paris Saint-Germain (PSG) today announced a multi-year partnership agreement with Hong Kong-based cryptocurrency exchange Crypto.com that will see the exchange become the Parisian club’s official cryptocurrency platform partner. Fast facts PSG competes in Ligue 1, the top division of French football, and its star-studded team includes forwards Lionel Messi, Kylian Mbappé and Neymar. […]

Design studio that makes hand-crafted statues for global brands such as Marvel, DC Comics and Hasbro plans to expand into new product categories, markets and NFTs.

El Salvador’s Bitcoin embrace may be a domino for some emerging markets, but a fierce rival to the BTC is also coming to the fore.

Algorand’s ALGO cryptocurrency prices have surged by 90% over the past seven days, crossing the US$2 mark and hit a two-year high of US$2.44 today, according to CoinGecko data. ALGO, ranked the 17th largest cryptocurrency by market value, has not seen such price heights since its launch in 2019. Fast facts Algorand is an open-source, […]

Hong Kong-based Global Shipping Business Network (GSBN), a nonprofit consortium whose members handle one-third of all the shipping containers in the world, announced yesterday that its new blockchain platform for global trade has officially gone live. The platform, built in partnership with Oracle, Microsoft, AntChain and Alibaba Cloud, aims to accelerate digital transformation in the […]

At the risk of losing billions, crypto industry officials weigh options to oppose authorities.

Korea crypto damage assessed meanwhile Initium’s news based NFTs sell out

C.R.E.A.M. Finance, a Taipei-based decentralized finance (DeFi) lending platform, on Sept. 8 announced its support of six metaverse and non-fungible tokens (NFTs) that will allow users to borrow and lend against the assets. Fast facts NFTs, unique digital assets whose authenticity and ownership are tracked on a blockchain, have seen exponential growth over the past […]

Billionaire investor Mark Cuban says Coinbase should “go on the offensive” against the U.S. Securities and Exchange Commission in its feud over high-yield savings account Lend. Brad Garlinghouse, CEO of Ripple — which is itself embroiled in ongoing litigation with the SEC — quipped “Welcome to the party” in a GIF tweet. Fast facts In […]

China-based Bitmain, one of the world’s biggest producers of cryptocurrency mining rigs, has sealed a deal with its United States partners — ISW Holdings and Bit5ive — to expand its operation in America. Fast facts ISW Holdings, a Nevada-based portfolio company with extensive crypto mining operations, will host 56,000 Bitmain mining rigs and pair them […]

Ripple wants to know how SEC regards Bitcoin, Ether and XRP, but SEC says Ripple is repeating the same questions as ‘they do not like the answers they received.’

Initium Media, also known as 端傳媒, is turning to blockchain technology to grow revenue and to ensure controversial news does not get forgotten — or tampered with.

As most of the market saw a 10% to 15% dip in the past 48 hours, Solana (SOL) has defied that trend, crossing the US$200 mark for the first time and becoming the new sixth-largest coin by market cap a few hours ago, according to data from CoinMarketCap.com. Fast facts SOL was trading at US$205.27 […]

As the debate over cryptocurrency’s carbon footprint rages on, leading bitcoin miner Blockstream is developing new zero-carbon Bitcoin mining facilities in partnership with Australia-based financial services giant Macquarie Group, according to a company blog post. Fast facts The first pilot site will be in the U.S. where Blockstream will leverage Macquarie’s experience in green investments […]

Following crypto’s adoption in one struggling economy, nations in Latin America and elsewhere are now weighing the pros and cons of digital currency

KILT Protocol, an open-source blockchain protocol for issuing self-sovereign, anonymous and verifiable credentials, has won the sixth Kusama parachain auction and has launched its mainnet, the project announced yesterday. Kusama is Polkadot’s canary network for blockchain developers to build and test out their code as well as products and services. Fast facts KILT Protocol had […]

As non-fungible tokens break into the mainstream, experts advise buyers to do research and watch for a correction.

What was internet censorship like in the early days, how has it changed, and what role does decentralization play.

Have DeFi exploits on BSC hindered the blockchain’s success? NFTs and gaming offer a boost.

Smaller virtual asset exchanges ask for mercy as a deadline looms to commit to Korea’s new standards.

Bitcoin price plunges however Metaverse actions heats up in China

Top blockchain and cryptocurrency news: El Salvador’s BTC experiment. EthereumMax and the power of celebrity. Hong Kong shores up regulatory oversight.

Despite significant losses across the board, industry experts are not too concerned, seeing the plunge as normal market behavior.

Crypto platform CEO claims regulators use ‘intimidation tactics behind closed doors’ by refusing to provide clarity.

An official from Hong Kong’s Securities and Futures Commission said on Tuesday that the regulator wants to increase oversight of virtual assets because scams related to them have emerged in the market, according to a report by local media etnet. Fast facts Julia Leung, deputy chief executive officer at SFC, said Tuesday at a webinar […]

Just one day after El Salvador’s highly-anticipated adoption of Bitcoin as legal tender, the country’s recently acquired nest egg of 400 BTC lost roughly US$2.5 million in value as the entire crypto market saw a loss of 10% to 15% in 24 hours, according to CoinMarketCap.com Fast facts Bitcoin was trading around a four-month high […]

What are the different kinds of blockchain, and how do they compare? Learn all about public, private and permissioned platforms in this Forkast.News explainer.

The Central American nation opens up the next chapter in the history of the world’s biggest cryptocurrency.

Solana hits all-time19 high as FTX’s NFT marketplace spammed

FTX is the latest crypto exchange to join the NFT bandwagon. “Make your own NFTs,” CEO Sam Bankman-Fried tweeted.