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Bitcoin ETF fever sends BTC to heights not seen since May 2022

As Bitcoin breaks past $35,000, optimism brews in the crypto market. Is this the end of the prolonged ‘crypto winter’ investors have dreaded?

Binance’s rollercoaster week: expansion, setbacks, and the ghost of FTX’s collapse

Top blockchain and crypto news: Is Japan a new frontier for Binance? AI art sweeps NFT sales. ETF buzz electrifies Bitcoin.

Binance: One year on from FTX’s downfall

Inside the world’s largest crypto exchange’s annus horribilis.

NFTs are here to stay — just not as we once knew them

Once driven by speculation and vanity car plate-like profile images, NFTs are now becoming more useful — with value that is not captured by market prices.

Blockchain’s 2 billionth user could be an AI, says Joe Lubin

The CEO of blockchain services provider Consensys and co-founder of Ethereum spoke to Forkast at the Token 2049 crypto conference in Singapore. He discussed decentralization and what he sees as the crucial role to be played by blockchain in AI and vice-versa.

Crypto trust on trial: Bankman-Fried faces judgment

Top blockchain and crypto news: Spotlight on Bankman-Fried, Pudgy Penguins’ new revenue stream and Google’s Web3 goggles

AI, Asia and analytics — an interview with Nansen’s Alex Svanevik

Blockchain analytics are key to understanding the nascent crypto industry. But the analysis sector is far from immune from the pressures of the ongoing crypto bear market. In the first of a series of 1-on-1 interviews from the Token2049 conference held in Singapore Sept. 13-14, Alex Svanevik, CEO of blockchain analytics firm Nansen, sat down with Forkast to discuss current crypto challenges, the Asia growth market and the increasing use of artificial intelligence in the industry.

US SEC to tighten regulatory enforcement beyond Coinbase, Binance.US

Top blockchain and crypto news: U.S. SEC steps up regulatory enforcement. Gaming giant Zynga moves into NFTs. Woes ahead for JPEX exchange after HK arrests.

Half a world away — Gary Gensler’s SEC dominates discussion at Singapore’s Token 2049

Billed as Asia’s largest crypto event, Token 2049 took place over Sept. 13-14 in the Southeast Asian city-state of Singapore. Drawing over 10,000 attendees from all parts of the world, there was excitement about blockchain adoption in the region. But repeat references to one man were a reminder of the U.S. regulatory concerns weighing heavily on the crypto industry.

Binance.US CEO calls it quits amid major layoffs

Top blockchain and crypto news: Binance.US undergoes staffing shakeup. Ethereum NFTs at risk. India to take a stand on crypto.

Advice for Web3 projects: Your reputation is as important as your runway

Web3 companies often focus on building their tech above all else, but poor public communications can undermine all the work they do.

U.S. SEC moves to appeal Ripple court decision

The U.S. Securities and Exchange Commission (SEC) submitted a filing last Friday that pushed the court of the Southern District of New York to appeal its ruling on the agency’s lawsuit against Ripple Labs.

Coinbase and Wall Street: The merging worlds of TradFi and crypto

Top blockchain and crypto news: Coinbase steps up to fill void of crypto lenders. NFTs extend losses. What’s next for crypto as Singapore gets a new president?

Do you really trust the smart contracts in charge of your crypto?

Making sure the smart contracts behind DeFi platforms are thoroughly audited isn’t just a job for code developers — it’s also a must for ordinary investors.

Real Bedford — Bitcoin, football and the bear market

In the first installment of Forkast’s ‘Crypto in Sport’ series, we visit the U.K. and the homeground of Real Bedford — the world’s first Bitcoin-funded football team. Can the team’s rock-n-roll rebrand under Bitcoin evangelist Peter McCormack propel the team up the English football pyramid? Or will the crypto winter put a freeze on its progress?

Grayscale triumphs over SEC: A David v. Goliath win in the crypto arena

Top blockchain and crypto news: U.S. court compels SEC to review Grayscale’s ETF application. SEC zooms in on NFTs. Asia’s richest man eyes blockchain, CBDCs

Uniswap securities violation charges dismissed by US court

A U.S. district court on Wednesday dismissed charges against a group of five firms for alleged securities violations on the Uniswap DeFi platform.

DeFi revenue remains resilient despite Curve Finance hack

Even as the value of assets in DeFi dips, service provider revenues stand strong, undeterred by the US$73 million Curve Finance breach, Forkast Labs data shows.

Sam Bankman-Fried’s lawyers granted unlimited prison visits; FTX tries to sell crypto holdings

Sam Bankman-Fried’s lawyers can visit him in jail on a daily basis, a U.S. district court ruled on Wednesday, while FTX’s new CEO wants to sell its crypto.

Could Rishi Sunak’s blockchain dream live on without him?

This final installment of a 3-part series on the U.K. digital asset industry looks at the politics driving the British crypto conversation. PM Rishi Sunak is a believer, but an election’s coming up, and his rivals appear less keen on turning the U.K. into a global crypto hub.

Will Singapore steady the stablecoin ship?

Top blockchain and crypto news: Singapore steps up stablecoin rules. DeGods decline. Hong Kong’s third crypto license.

SEC to appeal in Ripple case, says ruling is a matter of opinion

SEC seeks to appeal a court ruling in July that the programmatic sale of Ripple’s XRP cryptocurrency did not qualify as sales of financial securities.

Is PayPal’s new stablecoin a watershed moment for crypto?

PayPal launches stablecoin. Traditional gamers take on NFTs. Tough times ahead for Huobi.

Cryptos show resilience; BNB gains on Binance Japan launch

Bitcoin, Ether and most other top ten tokens gained Wednesday morning in Asia, with BNB leading winners after Binance Japan launch.

Bitcoin, Ether lose direction as caution rules market; Dogecoin still a winner on Musk factor

Bitcoin traded flat on Wednesday morning in Asia as risk-aversion remained the market theme, though the token managed to hold above US$29,000.

Bitcoin reclaims US$30,000, Ether gains, Cardano leads winners as top 10 crypto rise

Bitcoin rose on Monday morning in Asia to reclaim the US$30,000 support level. Ether moved higher, while most other top 10 non-stablecoin tokens also gained.

XRP triumphs over SEC, but crypto clarity remains in the shadows

Top blockchain and crypto news: Ripple not clear of hurdles | NFTs in historically slow period | Hong Kong banks dither

USDT’s goal is to be the dollar, not beat it, says Tether CTO

Scrutiny on the stablecoin’s reserves has intensified since USDT’s latest depegging scare. Paolo Ardoino, CTO of Tether and Bitfinex, delves into the composition of USDT reserves, explaining how the firm ensures dollar redemptions, irrespective of secondary market prices.

Europe’s first spot Bitcoin ETF set to launch in July: FT

Europe’s first spot Bitcoin exchange-traded fund (ETF) is expected to be publicly listed this month, following a 12-month delay from the initially planned date

Standard Chartered’s great expectations for Bitcoin in 2024

Top blockchain and crypto news: Standard Chartered eyes US$120,000 per Bitcoin | Another week of declines in NFT market | Sega and Line team up.

Seoul prosecutors chasing Do Kwon establish crypto investigations team

The Seoul Southern District Prosecutors’ Office announced that it will launch the Virtual Asset Joint Investigation Unit at the end of this month.

South Korea, Singapore, Thailand clarify crypto rules as U.S. in state of regulatory ‘warfare’

While Asia nations such as Singapore and Thailand seem to be following the U.S. regulator in frowning upon certain products offered by crypto exchanges, the approach in Asia so far seems to be clarity instead of court battles, in contrast with North America
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How did Do Kwon move US$18 mln in stablecoins to ‘unfreezable’ tokens while in Montenegro jail?

A South Korean academic tracking on-chain data says Do Kwon, the imprisoned founder of the now collapsed Terra-Luna crypto project, seems to have outside help in moving stablecoins from his digital wallets into other cryptocurrencies.

No surprise as Singapore, Thailand step up crypto regulation

Southeast Asia steps up regulation. No end in sight for NFT market decline. Voyager’s shrinking portfolio.

Global shifts in crypto capital are underway. Here’s where the money is going

Digital assets funds have been flowing in waves all over the world since crypto’s inception, writes Amy Yu, CEO of SEBA Bank. Where is crypto capital going now?

South Korea approves crypto bill to protect investors, goes into effect in one year

South Korea approved a bill to protect cryptocurrency investors as part of building the country’s first legal framework devoted to digital assets.

Crypto firms eye Hong Kong amid tough US regulations, says fintech association chair

Amid growing regulatory scrutiny in the U.S., crypto firms eye Hong kong for its strategic location and friendly regulations, yet Singapore and Dubai remain strong competitors, says FinTech Association of Hong Kong’s Neil Tan.

BlackRock files for spot Bitcoin ETF, taps Coinbase as custodian

The ETF, if approved, would be the first publicly traded crypto product of its kind in the U.S., but the SEC just sued crypto exchanges for alleged securities violations and has rejected similar ETF applications in the past.

Charting the digital continent — East Asia’s real-world race to build the metaverse

South Korea, China, Japan — East Asia’s three industrial powerhouses are taking their economic rivalry to the virtual world. Each is developing a domestic metaverse in a race to become the region’s industry leader. This first account in a three-part series takes a look at what’s happening in South Korea.

Weekly Market Wrap: SEC crackdown on Binance, Coinbase ‘can’t stop’ Bitcoin as it trades above US$26,000

Bitcoin recovered above the US$26,000 psychological level after a brief dip, as investors seemingly shrugged at the SEC’s crackdown on Binance and Coinbase. The quick crypto recovery could be a sign of a maturing asset class, industry experts told Forkast.

Why lack of diversification is cripping to the crypto market

Small cryptos often rise and fall with BTC and ETH — the market’s two biggest players. The concentration risk is profound, and here’s why you should care.

Hong Kong to be digital asset rules sandbox for China, says former city regulator

Virtual assets will receive the same regulatory clarity in Hong Kong as their real-world counterparts, says former Hong Kong SFC regulator Angelina Kwan.

Hong Kong? Singapore? Tokyo? Seoul? Dubai? The race is on for the Web3 hub of Asia | Part 1

As U.S. regulators file lawsuits against cryptocurrency platforms, prompting some digital asset companies to seek more favorable jurisdictions, a fleet of cities in Asia are putting out the welcome mat, seeking to attract the jobs and investment that Web3 technologies promise. Right now, Hong Kong seems to be grabbing the limelight, but it has competition.

S.Korean lawmakers propose public officials disclose crypto holdings

A South Korean ruling party lawmaker proposed all public officials and candidates disclose their crypto holdings in a new bill unveiled last Friday.

Web3 needs to engage with local communities. Its future depends on it

Web3’s terrible user experience, scams and lack of diversity could be solved if its leaders take a cue from environmentalists and ‘act locally,’ writes Tim Williamson of NieuxCo.

South Korea raids firms Upbit, Bithumb, Kakao over local lawmaker’s crypto scandal

South Korean prosecutors have raided Upbit, Bithumb and the crypto wallet unit of Kakao, as part of their investigation into lawmaker Kim Nam-kuk.

Bank of Korea and financial regulator in turf war over who supervises crypto industry

Bank of Korea, the central bank, seems uncomfortable with the Financial Services Commission, the country’s regulator, having the mandate over the cryptocurrency industry. The bank is pushing for more say, arguing crypto can influence the stability of the overall financial market and that involves the central bank.

Bitcoin, Ether prices fall; Asian equities, U.S. stock futures drop ahead of key inflation data

Bitcoin lost 0.43% while Ether dipped 0.60% in 24 hours. Polygon’s Matic token was the biggest loser and dropped 2.16%.
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Central bank digital assets can legitimize risk in the crypto space, says Standard Chartered’s Geoff Kendrick

In the second installment of a three-part interview series, Geoff Kendrick, head of crypto research and EM FX West at Standard Chartered Bank, talks altcoins, stablecoins and the legitimization of crypto risk through central bank digital assets.
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A tidal wave of wash sales makes up most NFT volume

CryptoSlam introduces new wash trade metrics to help traders and professionals uncover the truth behind NFT sales volumes across major blockchains.

Ethereum had over US$635 mln in NFT wash trades in April, CryptoSlam reveals

Nearly 60% of April NFT sales on Ethereum have been flagged as wash trades, with Blur marketplace’s token farming incentivizing the activity, CryptoSlam data shows.

Securities or not, crypto in the US needs new regulations and clearer guidance

CFTC and SEC disagree over whether cryptocurrencies are securities, and two big lawsuits clouding the industry’s future invoke laws that long predate the digital era.
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Bitcoin bounces back to US$28,000, Ether gains; U.S. equity futures up on tech earnings

Bitcoin rose in Wednesday morning trading in Asia to reclaim the US$28,000 mark, with Ether and all other top 10 non-stablecoin cryptocurrencies moving higher.

Crypto leaders need to collaborate with regulators more — for the industry’s own good

A clear and balanced legal framework will encourage more crypto investment, while the industry can promote best practices, writes Mahin Gupta of Liminal.

Do Kwon: The Rise & Fall

Do Kwon has been charged by Montenegrin authorities for attempting to travel with forged documents as the US and South Korea race to extradite him.

Sotheby’s to auction off NFTs owned by defunct hedge fund Three Arrows Capital

Leading auction house Sotheby’s said it will sell NFT artworks owned by the bankrupt crypto hedge fund Three Arrows Capital.

The true cost of zero-fee crypto trading is anything but zero

Nothing in life is free. Be wary of crypto exchanges that offer ‘free trading,’ and ask hard questions about how they make money, writes Ben Caselin of MaskEX.

Bank of England says stablecoins need limits on use to prevent financial instability

The Bank of England may set limits on use of stablecoins, citing concern rapid introduction of such digital currencies could lead to financial instability, Deputy Governor Jon Cunliffe said in a speech on Monday.

How blockchain can counter fake news and preserve history

In this era of disinformation and deep fakes, what can blockchain technology do to safeguard the truth about humanity’s shared past?

U.S. House Financial Services Committee releases draft stablecoin bill for Wednesday hearing

The U.S. House Financial Services Committee is set to hold a hearing on April 19 to discuss a draft bill released over the weekend on regulating stablecoins, a class of digital currency designed to offer price stability by being pegged to another asset’s value.

AI has taken over crypto’s share of VC funding, says Mysten Labs founder

Crypto’s share of venture capital money is now going to artificial intelligence, says Mysten Labs founder, Evan Cheng.

South Korean prosecutors to freeze US$5.36 million of Do Kwon’s assets, some in Switzerland

Seoul Southern District Prosecutors’ Office is in the process of freezing 7.1 billion won worth of assets that belong to Terraform Labs CEO Do Kwon.

Bitcoin trades under US$28,000, Dogecoin biggest loser

Bitcoin rose as Ether fell during Asian trading hours on Friday, with most of the top 10 non-stablecoin cryptocurrencies by market capitalization dropping. XRP rose the most, while Dogecoin was the biggest loser.

The TradFi vs. DeFi rivalry is hitting a new peak — and that’s bad for everyone

Amid the current banking crisis, each side is exhibiting disdain for the other when neither holds the moral high ground, writes Rachel Lin of SynFutures.

S.Korea to expand probe on token listing bribes if it sees ‘more evidence’

Taking bribes in exchange for listing cryptocurrencies has been common practice among South Korean exchanges, one expert told Forkast.

Bitcoin fluctuates to hold US$28,000, Binance BNB token rises despite regulatory threat

Bitcoin dipped in Friday morning trading in Asia but held above US$28,000. The top 10 non-stablecoin cryptocurrencies traded mixed. Binance’s BNB led the winners.

Binance faces legal battle as US regulator gets ready to rumble

Top blockchain and crypto news: Binance targeted in CFTC lawsuit. Law catches up with Do Kwon. Chinese banks bet on Hong Kong crypto.

Bitcoin, Ether, Forkast 500 NFT index rise; gold nears year-high over banking sector concerns

Bitcoin and Ether rose during Asian trading hours on Friday, along with most of the top 10 non-stablecoin cryptocurrencies by market capitalization, with Litecoin posting the biggest gains.

Bitcoin rebounds above US$28,000 as equities gain in U.S. on Treasury easing bank worries

Bitcoin bounced back above US$28,000 on Friday morning in Asia amid a rebound in all top 10 non-stablecoin cryptocurrencies and gains in equities overnight.

Bitcoin breaks above US$28,000 as Do Kwon detained in Montenegro

Welcome to The Daily Forkast – March 24, 2023 – presented by Joel Flynn for the latest in the crypto markets. Most major cryptocurrencies have seen a increase in their prices amid the Federal Reserve’s decision to raise the Fed rate by another 25-basis points. Terra Luna founder Do Kwon has been arrested by Montenegrin […]

Bitcoin buoyed as bank busts spook investors

Top blockchain and crypto news: Banking woes boost Bitcoin. Arbitrum counts down to launch. Chinese billionaire faces US crypto scam charges.

What the crypto industry should do to rebuild public trust

Many crypto users see losses as the cost of doing business. In fact, we can and must improve the sector’s deficiencies, writes Pelle Brændgaard of Notabene.