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Crypto exchange Binance in regulators’ crosshairs as scrutiny mounts

As countries step up their implementation of the Financial Action Task Force’s standards, the list of regulators that have Binance in their crosshairs just keeps growing longer. Fast facts Thailand’s Securities and Exchange Commission today filed a criminal complaint against Binance — the world’s largest cryptocurrency exchange by trading volume — for operating a digital asset […]

How to assess the maturity of a network and DeFi ecosystem

What does a fully functioning network with DeFi applications look like, and why is it important to assess? Garrette Furo of Cosmos explains.

FTX signs deal with Tom Brady; blockchain startup Nansen raises US$12M | The Daily Forkast

Demand for blockchain analytics is on the rise as FTX partners up with NFL superstar quarterback Tom Brady and supermodel Gisele Bündchen.

Wealth managers need to create digital asset offerings, Capgemini says

Wealth management firms need to develop new offerings around emerging trends such as the rise of digital assets and sustainable investing, according to Capgemini’s World Wealth Report 2021.

Exchange Crypto.com revs up sports sponsorships as Formula 1 partner

Formula 1 has announced that Hong Kong-based Crypto.com will be an inaugural global partner for the new F1 Sprint series in 2021.

Crypto exchange Coinbase to launch crypto app store in international strategy

Nasdaq-listed Coinbase, the largest cryptocurrency exchange in the United States, announced today its plans to expand its business internationally as it seeks to improve its asset-listing process and build a crypto app store. Fast facts: “We’re seeing crypto quickly mature from its initial use case of trading bitcoin to the trading of thousands of new […]

What is Theta blockchain, and how might it revolutionize online streaming?

With Theta’s new mainnet 3.0, the network aims to be the go-to blockchain-powered content delivery platform for online streaming. Will Theta succeed?

Hong Kong’s Cyberport invests in digital asset custodian Hex Trust

Hex Trust, a Hong Kong-based digital asset custodian, today announced that it has secured investment from Cyberport, a technology incubator project backed by the Hong Kong government.

Evangelizing to different investor profiles

Millennials and Gen Z Millennials have earned the reputation of disrupting or killing traditional industries, and the financial sector is no exception.  The disconnect between millennials and traditional investments is the result of various factors, such as their firsthand experience with the long-term effects of the 2008 global recession on assets and investments, as well […]

Tokenized asset market sizing and analysis

How value is created Our methodology for calculating the value of this market includes tokenized commodity, energy, currency (i.e., stablecoins), gold and real estate projects. Calculations include publicly listed projects found via Blockexplorers. It excludes cryptocurrency, as it’s a native digital asset, as well as DeFi projects because of their extreme volatility. All tokenized assets […]

Family offices are turning to digital assets

Interview with Trent Barnes, Principal at Zerocap Tokenization brings new models for raising capital, as well as institutional-grade opportunities Forkast.News: How does a digital asset become “institutional-grade”? What sort of criteria are institutional-level traders looking for? TB: The criteria would include clear guidelines and regulatory frameworks as to how digital assets are treated, deepening pools […]

Metaverse hot in South Korea; Decentralized theme park hits HK | The Daily Forkast

South Korea’s top asset managers are racing to get into the metaverse game while Forkast.News visits a decentralized theme park in Hong Kong.

Trends and opportunities

Top three digital asset market trends shaping the future Three key trends in the digital asset market are: Tokenization of widely traded traditional assets, such as stocks and bonds; Tokenization of previously untraded or under-traded assets, such as real estate and fine art; Institutional adoption and trading of digital tokens. During the past year the […]

Digital asset exchange infrastructure geared for high-volume trading

Managing trading volume and geography The importance of having the right infrastructure to drive an exchange – any exchange, not just ones for digital assets – cannot be overstated. It provides the engine that lies behind every software platform.  Investors need to know they can execute trades without outages or other interruption. As well, they […]

Decentralized theme parks promise kids virtual prizes to earn as they learn

Prototype launches in Hong Kong, with children able to collect digital currency and NFTs instead of arcade coupons.

Foreword

This report is about the development of digital assets, cryptocurrencies and tokenization and how that all-important confidence is established. Thank you for your interest in digital assets and the role of digital asset exchanges, custodians and the value digital assets offer to investors looking to diversify.  For any currency, digital or otherwise, confidence in the […]

Introduction

Executive Summary The crypto market of 2020 is not the crypto market of 2013. What was once a cryptocurrency market is now a digital asset market. Blockchain’s strengths in efficiently and transparently tracking assets have given birth to an industry of assets represented by tokens, allowing both a new class of investors to have exposure […]

The Unstoppable Rise of Digital Assets

Table of contents Foreword For any currency, confidence is essential. This report is about the development of digital assets, cryptocurrencies and tokenization and how that all-important confidence is established. by Angie Lau, Forkast Editor-in-Chief Executive summary and introduction The crypto market of 2020 is not the crypto market of 2013. What was once a cryptocurrency […]

FATF: Most countries have yet to implement anti-terrorism crypto ‘travel rule’

Why are so few adopting FATF guidance for VASPs? Money laundering watchdog decries ‘continued misuse of virtual assets through jurisdictional arbitrage.’

Bitcoin not ideal for cyber crime, says Filecoin Foundation chair

Bitcoin was recovered by the FBI from the Colonial Pipeline ransomware cyber criminals DarkSide, sparking privacy concerns around cryptocurrencies.

What will Ethereum’s London hard fork do as an upgrade?

A major Ethereum upgrade via London hard fork — which experts call a ‘seismic shift’ for the industry — is coming soon. Are ‘Ethereum killers’ doomed?
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Survey: 32% of novice traders only invested in crypto in past year

Nearly one in three novice traders reported making no traditional investments outside crypto over the past year, according to a survey published today by Overbit, a Singapore-based cryptocurrency exchange. In contrast, 85.3% of professional traders reported diversifying their investment portfolios to stock, real estate or other traditional assets. Fast facts: The survey of 3,000 traders […]

What is Ethereum, and could it become the future of blockchain?

Ethereum is much more than a cryptocurrency, and it has already attracted huge interest among investors. What’s all the fuss about? Forkast.News explains.

Sotheby’s will accept Bitcoin and Ether for 101-carat diamond auction

Sotheby’s has announced it will be accepting cryptocurrency as payment in an upcoming auction for a 101.38-carat diamond with flawless clarity.

WazirX CEO: India’s crypto industry trying to keep ‘clean’ for regulators

Crypto literacy of Indian regulators is evolving and crypto players are trying to keep industry clean via self-regulations, says Nischal Shetty of WazirX.

How DeFi exchanges like SynFutures may challenge TradFi and CeFi

Singapore-based decentralized exchange SynFutures has closed a $14 million series A round to bring crypto derivatives to new users around the world.

How Singapore and Cambodia see digital currencies for cross-border use

In a recent conference, central bankers from Cambodia and Singapore discuss how digital currencies are transforming existing payment systems for the better.

BitDAO raises US$230M with Peter Thiel, VCs to drive DeFi adoption

BitDAO — a new decentralized autonomous organization that aims to promote and propel the mass adoption of open finance and the decentralized tokenized economy — has announced the completion of a US$230 million private sale.

Huobi launches Blockchain Assets Center for token listings

Huobi Group has announced the launch of a Blockchain Assets Center to provide a standardized, streamlined process for projects seeking to list on its cryptocurrency exchange, Huobi Global.

SK govt assists crypto exchanges; Aus firm accepts crypto for rent | The Daily Forkast

South Korean government is holding on-site visits to help crypto exchanges get regulated while an Aussie business wants crypto for rent.

Plasm Network closes $10M fundraise to bolster Polkadot ambitions

With Kusama slot parachain auctions underway, the first starting next week, Plasm and Shiden networks prepare for a multi-chain future with Polkadot.

How the layer 2 race is scaling Ethereum before ETH 2.0

While the world waits for Eth 2, blockchain developers like Enya.ai and OMG Network are trying to solve Ethereum’s scalability issues via layer 2.

Moonstake ties up with Uzbekistan exchange in blockchain push

Staking service provider Moonstake has partnered with UzNEX to provide blockchain consulting services in Southeast Asia and the Middle East.

Vitalik Buterin: Why Eth2 will propel Ethereum’s use in enterprise

In a talk this week, Vitalik Buterin explains Ethereum’s growing use in enterprise and the importance of building diverse, open-source communities.
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UNICEF invests in blockchain startups for financial inclusion

UNICEF Venture Fund is awarding up to $100,000 to blockchain startups, including India’s GovBlocks, in its latest funding round. Here are the other projects.

What blockchain games like Alien Worlds say about life outside metaverses

In a special Q&A, Sarojini McKenna of Alien Worlds discusses play-to-earn gaming, digital assets like Trilium, and lives increasingly lived inside virtual worlds.

DBS Bank tapping on tokenized bonds as a new way to invest

From digital bonds to real estate, blockchain-enabled security token offerings and tokenization are redefining corporate fundraising and investing.

Ethereum is rocketing out of this world with SpaceX and SpaceChain

Can Ethereum, also known as the ‘World Computer,’ function outside this world — in space? A SpaceX rocket launch today will put that to the test.

SpaceChain shoots blockchain to space; Cardano’s bridge to China | The Daily Forkast

SpaceChain shoots blockchain to tech to the International Space Station aboard Falcon 9 as Cardano announces first cross-chain bridge with Nervos.

Ethereum investment products hit market-share high of 27%, report says

Ethereum has hit a market-share high of 27% of all digital asset investment fund products following recent price corrections.

Thailand warns over DeFi; India green lights cryptos | The Daily Forkast

Thailand becomes one of the first governments to attempt DeFi regulation as India’s RBI clarifies that banking ban no longer exists.

Financial Stability Board seeks faster, cheaper cross-border payments

The Financial Stability Board has launched a public consultation on global targets for cross-border payments.

How FTX CEO Sam Bankman-Fried navigates crypto trading’s new normal

From mass liquidations to meme trading, the characteristics unique to the crypto market can now be seen in traditional markets, says FTX CEO Sam Bankman-Fried.

Bridging the DeFi data gap with indexing blockchain data

Blockchain technology has massive data requirements, but the data can be difficult and costly to access. What are some of the solutions?

Ethereum 2 to set green future; Koreans demand regulator steps down | The Daily Forkast

Vitalik Buterin sets a green future for the Ethereum network while Bitdeer becomes the latest to block Chinese miners.

Tokenization to transform financial system, DBS Bank CEO says

The power of tokenization can fundamentally transform the fabric of the financial system, Singapore’s DBS Bank CEO Piyush Gupta told the Consensus by CoinDesk 2021 conference taking place this week.

Vitalik Buterin speaks: What lies in the future of Ethereum?

Breaking into occasional Mandarin at a Hong Kong conference, Ethereum’s visionary creator tells all — including why Ethereum 2.0 is taking so long.

Crypto market rebound as investors go green; Indonesia plans CBDC | The Daily Forkast

Investors are turning to green alternatives to tackle Bitcoin’s impact on the environment as Indonesia gears up for a CBDC.

China crypto crackdown fallout; Politician turns influencer in Korea | The Daily Forkast

China’s miners prepare for migration and Hong Kong reacts to possible retail ban. Meanwhile a South Korean governor becomes a crypto influencer.

What is the outlook for Bitcoin and Ethereum for the rest of 2021?

The current dip aside, what are Bitcoin and Ethereum’s longer-term price forecasts? Finder’s brain trust of 35 crypto experts peers into a crystal ball.

Hong Kong split on retail crypto ban; Korean conglomerate on custody | The Daily Forkast

Hong Kong reacts to the region’s pending legislation on limiting crypto investment to professional investors while a conglomerate enters South Korea’s crypto custody scene.

S. Korean crypto exchange Bithumb distances itself from scandal-hit ex-chairman

Bithumb, one of South Korea’s biggest cryptocurrency exchanges, is attempting to disassociate itself from its former chairman amid fears that its links to him may pose a threat to its license to operate.

Rejecting traditional finance, some firms now turn to DeFi for growth capital

DeFi project Maple Finance is launching a $17 million lending pool to provide crypto startups with capital. Is this the start of a DeFi credit underwriting trend?

Digital dollar’s values to fortify USD hegemony, says ex-CFTC chair

Former CFTC chairman Chris Giancarlo and Accenture’s David Treat are not in a CBDC race, but a ‘contest’ to develop money that reflects societal values.

Bitcoin long positions worth $1.5 billion liquidated amid crypto crash

Around US$1.5 billion of Bitcoin long positions were liquidated today across some of the world’s top crypto exchanges, including Binance and FTX, according to Bybt data.

Will Singapore launch a people’s digital currency — and support DeFi?

As Singapore builds Project Dunbar, a cross-border multiple-CBDC platform, its government dives into DeFi learning and ponders a CBDC for the masses.

Banks take on enterprise blockchain; WeMade entrust crypto to KODA | The Daily Forkast

Banks in Singapore are leading blockchain and DLT developments while South Korean game developer WeMade entrusts its US$130 million crypto holdings to KODA.

What is Polkadot and why is it one of the hottest blockchains right now?

The final phase of Polkadot’s rollout — with parachains — just kicked off. Here’s what you need to know about Polkadot and parachains, and why it matters.

Led by Cardano ADA, green cryptos rise as Bitcoin, wider market sinks

ADA price holds strong as investors shift to greener cryptocurrencies and Cardano smart contracts get set to launch blockchain into DeFi and NFTs.

India’s demand for crypto ‘growing like crazy’ since ban attempt

It’s only a matter of time that digital currency ‘is going to overshadow all the other forms of money,’ says Neeraj Khandelwal of CoinDCX.

DBS Bank rolls out crypto estate planning for the ultra-rich

What will happen to your Bitcoin keys and crypto wallets when you die? Southeast Asia’s largest bank will now take care of it all for the super wealthy.

China’s miners on Tesla’s Bitcoin 180; Animoca Brands — a star is born | The Daily Forkast

Asia’s crypto industry reacts to Tesla backtracking Bitcoin payments, while Animoca Brands raises US$88,888,888 in a new funding round.

How FTX crypto exchange won over 1 million investors and grew 25-fold

FTX crypto derivatives exchange pioneered TRUMP crypto futures and now dwarfs Coinbase in trading volume. Is going public in FTX’s near future?

ICP takes crypto world by storm. Will Ethereum be the next Bitcoin? Goldman Sachs launches crypto trading desk.

Other top blockchain and cryptocurrency news: How Dogecoin copycat SHIB coin vaulted into crypto’s top 20. China unveils fingerprint ID for digital yuan.

SHIBA INU trends in Chinese social media; Indonesia mulls crypto tax | The Daily Forkast

Shiba Inu is the new “Doge killer” and Chinese investors “can’t get enough” of it, says Gate.io, as #SHIB trends in Weibo.

Ethereum market cap now half trillion dollars as Ether price hits ATH of $4,360

Ethereum prices rally to new all-time high as Bitcoin’s dominance keeps sliding. Is Ethereum’s upcoming EIP 1559 upgrade boosting its value proposition?

FTX CEO on tokenized stocks; South Korean police officers want crypto | The Daily Forkast

FTX CEO Sam Bankman-Fried joins Forkast.News to share how the exchange is able to provide new financial products while still satisfying regulators.

Ethereum prices break $4,000 for first time—what’s driving ETH’s surge?

Is it all those new Ethereum ETFs, rising demand for Ethereum from DeFi and NFTs, or lower gas fees fueling ETH’s price jump to yet another all-time high?

How R3 is growing Corda’s reach with China’s Blockchain Services Network

R3’s Corda — one of the most widely used blockchains of Corporate America — is coming to China. What does it mean for the US and Europe?

Open DeFi launches DAO: ‘Multi-chain DeFi is here to stay’

Since its launch by Conflux Network, a Shanghai-endorsed public chain, the East-West alliance has added over 30 members. Open DeFi now forms a DAO.

Report: 1.7 million DeFi users now on Ethereum, 50% more since Jan. 1

ConsenSys Codefi’s Q1 report on decentralized finance (DeFi) trends also saw 7x growth in stablecoins and predicts flashbots dominating the Ethereum network.

New York Giants ink partnership deal with Grayscale

Football team adds world’s biggest crypto asset manager to roster of corporate sponsors as sector firms make inroads into sports. The New York Giants have announced an exclusive partnership agreement with digital currency asset manager Grayscale Investments, which had $46.6 billion of assets under management as of April 30. The arrangement, a first in the […]