It took two-and-a-half months for China’s southeastern city of Guangzhou to surpass 490 million yuan (US$73.2 million) in digital yuan transactions, People’s Bank of China Guangzhou branch deputy manager Guo Yunxi said, according to local media. See related article: JD.com tops US$60 mln in digital yuan sales in 618 shopping festival Fast facts See related…
Asset manager Morgan Creek Digital is trying to raise US$250 million to counter crypto exchange FTX’s bailout of beleaguered crypto lender BlockFi, according to a report by CoinDesk. See related article: Sam Bankman-Fried steps in to bail out BlockFi Fast facts Morgan Creek is attempting to raise funds to purchase a majority stake in BlockFi,…
Singapore-based public blockchain platform Klaytn and non-fungible token (NFT) marketplace OpenSea announced on Friday a partnership to bolster the Asian NFT ecosystem. See related article: Kakao’s Klaytn to build blockchain in China with BSN Fast facts The partnership includes conference collaborations and ecosystem grants to promote Asian NFT projects to the global audience. Klaytn is…
The Federal Bureau of Investigation (FBI) and multiple cybersecurity companies have started investigating the US$100 million hack on Harmony Protocol’s Horizon cross-chain bridge. See related article: Axie Infinity hack proceeds continue to be laundered despite US sanctions Fast facts Harmony Protocol announced it was attacked on Friday morning Asia time, adding it had alerted exchanges…
In a decentralized society envisaged under crypto, everybody is reportedly equal. But as the market strains under considerable stress, it’s showing some are more equal than others.
In his first interview after the collapse of TerraUSD (UST) and its sister token LUNA in May, CEO Do Kwon dismissed allegations of fraud and told The Wall Street Journal, “There is a difference between failing and running a fraud.” See related article: Winning back the trust of the Terra community a tall order for…
Cryptocurrencies were listed for the first time as a means to launder and transfer money related to the drug trade by the China Ministry of Public Security on Thursday. See related article: China explores ways to classify cryptocurrency crimes Fast facts See related article: The SEC is building a SWAT team to combat crypto crime
Testifying before the Senate Banking Committee on Wednesday, the chair of the U.S. Federal Reserve said the central bank is “not really seeing significant macroeconomic implications so far” with regard to the recent cryptocurrency volatility. See related article: Bitcoin, Ether recover as Fed guidance reduces policy uncertainty Fast facts Powell testified at the Senate Banking…