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.
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.
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.
PayPal launches stablecoin. Traditional gamers take on NFTs. Tough times ahead for Huobi.
Bitcoin, Ether and most other top ten tokens gained Wednesday morning in Asia, with BNB leading winners after Binance Japan launch.
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 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.
Top blockchain and crypto news: Ripple not clear of hurdles | NFTs in historically slow period | Hong Kong banks dither
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 exchange-traded fund (ETF) is expected to be publicly listed this month, following a 12-month delay from the initially planned date
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.
The Seoul Southern District Prosecutors’ Office announced that it will launch the Virtual Asset Joint Investigation Unit at the end of this month.
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
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.
Southeast Asia steps up regulation. No end in sight for NFT market decline. Voyager’s shrinking portfolio.
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 approved a bill to protect cryptocurrency investors as part of building the country’s first legal framework devoted to digital assets.
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.
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.
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.
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.
Virtual assets will receive the same regulatory clarity in Hong Kong as their real-world counterparts, says former Hong Kong SFC regulator Angelina Kwan.
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.
A South Korean ruling party lawmaker proposed all public officials and candidates disclose their crypto holdings in a new bill unveiled last Friday.
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 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, 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 lost 0.43% while Ether dipped 0.60% in 24 hours. Polygon’s Matic token was the biggest loser and dropped 2.16%.
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.
CryptoSlam introduces new wash trade metrics to help traders and professionals uncover the truth behind NFT sales volumes across major blockchains.
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.
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.
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.
A clear and balanced legal framework will encourage more crypto investment, while the industry can promote best practices, writes Mahin Gupta of Liminal.
Leading auction house Sotheby’s said it will sell NFT artworks owned by the bankrupt crypto hedge fund Three Arrows Capital.
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.
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.
In this era of disinformation and deep fakes, what can blockchain technology do to safeguard the truth about humanity’s shared past?
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.
Crypto’s share of venture capital money is now going to artificial intelligence, says Mysten Labs founder, Evan Cheng.
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 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.
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.
Taking bribes in exchange for listing cryptocurrencies has been common practice among South Korean exchanges, one expert told Forkast.
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.
Top blockchain and crypto news: Binance targeted in CFTC lawsuit. Law catches up with Do Kwon. Chinese banks bet on Hong Kong crypto.
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 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.
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 […]
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.
Top blockchain and crypto news: USDC stabilizes after SVB collapse. Silvergate closes shop. China tightens financial supervision.
The recent U.S. banks fallout is a stress test for both traditional finance and digital assets but to weather the storm side by side is a powerful opportunity, says Circle Chief Strategy Officer Dante Disparte.
The NY State Attorney General is suing crypto exchange Kucoin for not registering as a securities and commodities broker-dealer and calling itself an exchange.
Bitcoin and other leading cryptocurrencies slid Friday morning in Asia, tracking equities amid red flags on interest rates and concern about fallout from the Silvergate collapse.
In the race to tame crypto’s excesses, we need to avoid regulatory clashes while DeFi draws lessons from TradFi, writes Rachel Lin of SynFutures.
The SEC announced emergency action against crypto hedge fund BKCoin and co-founder Kevin Kang in connection with an alleged fraud scheme.
Officials at Bitcoin mining companies say the rebound in prices so far this year for the world’s biggest cryptocurrency has thrown a lifeline to the industry after some miners sought protection from creditors last year amid the slump in the token’s price.
Top blockchain and crypto news: Blur’s success spurs changes at OpenSea. Is Binance eyeing US exit? Taiwan asset disclosure rules may include crypto.
Top blockchain and crypto news: Paxos halts BUSD issuance. Kraken faces disclosure charges. Beijing backs new blockchain research center.
Last year was memorable in the emerging world of digital assets for the sheer number of corporate failures. The industry itself has been asking for clearer legal guidelines to help development. Is that what’s happening now?
Mastermind of the EminiFX fraud has pleaded guilty to soliciting investments worth more than US$248 million from tens of thousands of investors, says US DOJ.
Weekly Market Wrap: Bitcoin retreats below US$22,000 after a record January. Is the strong start to 2023 reversing?
After the strongest January price increase since 2013, Bitcoin gave up some of its gains this week to dip below the US$22,000 support line on Friday. The crypto market was buffeted by bearish comments on interest rates by U.S. Federal Reserve officials this week, along with concerns about a regulatory crackdown. Is this the start of a downtrend, a healthy correction, or the beginning of a so-called “crab” market moving sideways?
DeFi is still a Wild West, and many would-be users are wary of its lawlessness and anonymity. Could decentralized IDs foster greater trust and growth in the sector?
The future global financial system will be reliant on the cloud, especially when it comes to CBDCs and stablecoins, writes Michael Greenwald and Logan Weber.
The HKMA said in a consultation conclusion that algorithmic stablecoins will not be allowed in the city.
Tighter regulations are necessary but not enough. The industry also needs to address its issues with custody and transparency, writes Chen Zhuling of RockX.
Four senior officials in U.S. President Joe Biden’s administration called for Congress to “step up its efforts” in regulating the cryptocurrency market.
Cryptocurrencies post the Terra-Luna, FTX failures were a debated topic at the World Economic Forum meeting in Davos in the week through Jan. 20, with some authorities calling for a doubling down on regulations. Others had a more nuanced view.