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The People’s Bank of China said it expanded its digital yuan pilot program to 11 more cities, including in Hangzhou, which hosts the Asian Games in September. See related article: The digital yuan’s de-dollarization Fast facts The 11 cities that will trial China’s central bank digital currency (CBDC) are Tianjin, Chongqing, Guangzhou, Fuzhou, Xiamen, and […]

Pioneers take arrows. No one knows it better than Binance. The world’s biggest cryptocurrency exchange by volume wants to set the industry standard when it comes to compliance and security as past missteps hold it in good stead.

As the world’s biggest cryptocurrency exchange battles the onslaught of regulators globally, cofounder Yi He is stepping out of the shadows to help steer the company.

The emancipatory promise of decentralization has been both evangelized and excoriated. The Algorand Foundation’s Jason Lee explains why we should be believers.

Sky Mavis, the developer of the popular blockchain game Axie Infinity, delayed its highly anticipated Origin upgrade in response to the recent hack worth over US$600 million on its Ronin network.  See related article: Top NFT game Axie Infinity generated $1.3B in revenue last year Fast facts The Vietnam-based developer’s new Origin upgrade will now […]

Circle has selected one of America’s oldest banks, BNY Mellon, as the primary custodian for the world’s second-largest stablecoin USDC’s reserves. See related article: USDC to be 100% backed by cash, US Treasuries Fast facts USDC issuer Circle chief Jeremy Allaire had claimed the stablecoin became 100% backed by cash and short-term treasury bills after […]

The Korea Federation of Banks (KFB) may request South Korea’s incoming presidential administration to approve local banks servicing cryptocurrencies, according to a leaked draft report. See related article: South Korea’s largest financial group mulls crypto ETFs Fast facts KFB, the largest body representing domestic lenders, wrote in its report that banks should be permitted to […]

Residents in five more Chinese cities were able to access digital yuan wallets starting Thursday, marking a major development for central bank digital currencies (CBDCs) globally.  See related article: Asian Games set for digital yuan, metaverse pilots, tech firm claims Fast facts See related article: Digital yuan pilot attracts Chinese province bordering Russia

India’s 30% flat levy on all capital gains made on cryptocurrencies kicked in on April 1 in a development likely to stifle the relatively nascent industry in the country. See related article: India’s crypto tax will incur losses for government, says WazirX CEO Fast facts Finance minister Nirmala Sitharaman has been facing investor backlash over […]

The operator of the world’s largest cryptocurrency exchange will become the first-ever official crypto exchange partner for the annual Grammy Awards for musical achievement. See related article: Binance to take $200M stake in Forbes Fast facts Binance will bring various Web 3.0 technology solutions and experiences to the organization’s members, events and initiatives, a press release […]

European lawmakers have voted to introduce new legislation designed to stop illicit flows amid industry pushback claiming the measures will stifle innovation and infringe on privacy. See related article: EU votes against de facto Bitcoin mining ban Fast facts The proposal requires crypto service providers to collect information on senders and beneficiaries in all crypto […]

Despite the promises of decentralized technology, women remain vastly underrepresented in the NFT art world. Forkast talks to artists working to change that.

Polkadot parachain Acala and its Kusama-based counterpart Karura are integrating with cross-chain bridge Wormhole, bridging its decentralized finance (DeFi) ecosystems with eight major Layer 1 blockchains.  See related article: Polkadot is top crypto held by VCs and hedge funds in Q4 2021 Fast facts The Wormhole integration will bridge Acala and Karura to Ethereum, Solana, […]

WeChat has blocked more than a dozen accounts belonging to non-fungible token (NFT) marketplaces from its social media platform, citing prevention of “crypto speculation.” See related article: China state-backed paper’s NFTs surge in price on second-hand market Fast facts When visited, the banned accounts of the NFT marketplaces displayed a message from WeChat: “No legal […]

The International Monetary Fund (IMF) is voicing concerns over the adoption of cryptocurrencies in India, suggesting it poses significant risks to the country’s financial stability, local media report. See related article: Killing it softly or regulating to innovate? India at the crypto crossroads Fast facts Crypto assets pose significant risks, including to financial stability in […]

Zilliqa is leading Thursday’s crypto market with an 80% charge over the last 24 hours, part of a 270% weekly pump since its metaverse-as-a-service platform Metapolis launch event was announced.

Top blockchain and cryptocurrency news: Dubai’s crypto caravan. Mt. Gox unlocked. Digital yuan in play again.

A district government in Maharashtra, India, has started stamping 65,000 caste certificates through LegitDoc, a document-verifying system on the Polygon blockchain.  See related article: India releases ‘National Strategy on Blockchain’ for e-governance Fast facts In India, caste certificates are used by marginal communities such as tribes to gain access to certain government benefits and subsidies.  […]

Sushil Kumar Modi, a member of Parliament (MP), has urged India’s finance minister Nirmala Sitharaman to consider raising the capital gains tax on crypto income to over 30%, the flat rate scheduled to kick in from April 1.  See related story: India’s tax bogeyman is scaring off young crypto investors Fast facts The minister argued […]

Augmented reality (AR) glasses maker Nreal raised US$60 million in its Series C+ led by Alibaba, which joins rival Chinese tech giants Tencent and ByteDance in a race into the metaverse.  See related article: Why the metaverse is a trillion dollar opportunity Fast facts See related article: Foxconn’s Taiwan subsidiary receives investment from Google for […]

The Hong Kong Exchange (HKEX) Tuesday revealed plans to launch “Diamond,” a trading platform to pilot digital assets in 2022.  See related article: China’s e-CNY pilot to boost Hong Kong as offshore yuan trading center Fast facts See related article: Hong Kong to propose bill to license crypto exchanges

Decentralized finance (DeFi) lending protocol Aave’s governance token surged 84% since its March 16 V3 upgrade, and was trading at US$220.01 at press time, according to CoinGecko data.  See related article: DeFi lending platform Aave to ‘build Twitter on Ethereum’ Fast facts Aave is also the top gainer in the past 24 hours with a […]

Leading non-fungible token (NFT) marketplace OpenSea has released a teaser of its long-rumored integration of NFTs on the Solana blockchain, now planned for April. See related article: What is the Solana ecosystem and how is it fueling SOL’s stratospheric rise? Fast facts OpenSea’s teaser video shared on Twitter on Tuesday morning Asia time displayed a […]

Bharti Airtel Ltd., India’s largest wireless telecom services provider by active users, is planning to cash in on the metaverse by leveraging its upcoming fifth-generation radio waves (5G) network, according to local media reports.  See related article: Who are the biggest players in the metaverse today? Fast facts Airtel is seeking partnerships with content providers […]

Ethereum sidechain Ronin, where play-to-earn blockchain game Axie Infinity runs, has been hacked for over US$600 million in crypto, making it one of the biggest hacks in crypto history. See related article: Axie Infinity becomes first NFT series to break $4B in sales Fast facts Ronin said the hacker compromised four of their own validator […]

Binance is racing to anchor its sprawling global operations as regulators in China, where it was founded in 2017, go after firms for lax know-your-customer practices.

Terra’s LUNA, the eighth largest cryptocurrency by market capitalization, reached a new all-time high of US$106.14 on Tuesday early afternoon Asia time, following a US$135 million purchase of Bitcoin.

Gaming fintech ZEBEDEE launched ZBD Streamer on Tuesday, enabling content creators to collect Bitcoin tips while live streaming on online platforms including Twitch and YouTube.  See related article: PlayNFT plug-in to enable streamers to offer NFTs on Twitch Fast facts Viewers can send tips using a Bitcoin Lightning wallet, with an option to send custom […]

Xiamen has revealed its three-year action plan to nurture its cluster of metaverse firms involved in non-fungible tokens (NFTs), VR/AR, chips and related hardware with over 100 million yuan (US$15 million) in revenue, according to the local government’s working plan. See related article: ‘Metaverse’ enters government radar at China’s Two Sessions Fast facts See related […]

Singapore-based cryptocurrency exchanges Crypto.com and Bybit have announced that they will be setting up offices in Dubai, as the industry continues its migration towards the United Arab Emirates (UAE).  See related article: As Binance shrinks away in Asia, will it put down roots in the Middle East? Fast facts See related article: Ripple launches first […]

Despite criticisms of play-to-earn games, blockchain innovations are here to stay and represent gaming’s future, writes William Wu of Catheon Gaming.

The country’s attempt to profit from digital asset gains puts off new investors to the asset class, even as existing ones redeploy funds into traditional assets.

Australian crypto exchange BTC Markets has partnered with Mastercard to allow its customers to make direct debit, prepaid or credit card payments to purchase cryptocurrencies from the platform. See related article: Mastercard partners with Australian exchange for crypto card Fast facts The move is part of a broader trend by payments giants like Mastercard and […]

Greyscale Investments might sue the U.S. Securities and Exchange Commission (SEC) if its filing to convert its US$30 billion Bitcoin trust into an exchange-traded fund (ETF) is rejected, company CEO Michael Sonnenshein told Bloomberg. See related article: Bitcoin price hits all-time high after ProShares ETF debut Fast facts The SEC’s deadline to approve or reject […]

Binance US is on track for an initial public offering (IPO) in two to three years, with a “couple of hundred million dollars” in funding to be announced in April, Binance US CEO Brian Shroder said at the Binance Blockchain Week on Monday.  See related article: Binance US under probe for ties with trading affiliates: […]

Aided by crypto like Monero, ransomware crimes are on the rise globally, writes Srinivas Mukkamala of Ivanti. Android users are especially vulnerable.

The Australian Securities Exchange (ASX) has announced its highly anticipated AU$250 million (US$187 million) blockchain project has been delayed for release until late 2023 at the earliest. See related article: Australian Securities Exchange to launch crypto-related ETF Fast facts CHESS, or Clearing House Electronic Subregister System, was initially slated for a blockchain upgrade by April […]

World of Women (WoW) Galaxy, the second non-fungible token collection launched by WoW, a community focused on increasing diversity and inclusion, was sold out within three days after launching with US$14 million in primary sales.   See related article: Ukraine’s NFT museum of Russian conflict goes live Fast facts Total WoW Galaxy sales in the past […]

The Japanese trustee for Mt. Gox is likely to distribute the remaining trove of Bitcoins held by the defunct cryptocurrency exchange sooner than later, former CEO Mark Karpeles tells Jake Adelstein in an exclusive interview for Forkast.

A Hangzhou-based data firm has confirmed that it is working on the application of the digital yuan and the metaverse in the upcoming 2022 Asian Games.  See related article: China’s digital yuan app now publicly accessible, one step closer to launch Fast facts See related article: 2022 Asian Games in Hangzhou to sell torch NFTs […]

Bitcoin, the largest cryptocurrency by market capitalization, crossed US$47,000 on Monday Asia time after a sudden spike, the first time since early January.  See related story: Bitcoin wakes up to pass $40,000 before going back to sleep Fast facts Bitcoin has traded below US$45,000 since January, but broke out to trade at US$46,823 on Monday […]

South Korea’s Ministry of Science and ICT (MSIT) is recruiting extended reality, artificial intelligence, and non-fungible token (NFT) experts for its upcoming boot camp designed to train future metaverse professionals.  See related article: South Korea wants to be the physical home of the metaverse Fast facts MSIT is launching what it calls the nation’s first […]

Ukraine’s Ministry of Digital Transformation launched the Meta History Museum of War on Friday, a museum hosted on the Ethereum and Polygon networks that chronicles the country’s war with Russia through non-fungible tokens (NFTs). See related article: Zelenskyy legalizes cryptocurrency in Ukraine Fast facts “Disinformation is used by Russia on a par with deadly military […]

Chinese state-backed real estate giant Greenland Group has formed a partnership, through its financial arm, with Singapore-based digital securities exchange MetaVerse Green Exchange (MVGX), to offer cross-border digital carbon credits trading services. See related article: China eyes blockchain for carbon trading Fast facts The partnership will allow accredited, institutional investors to trade digital carbon credits […]

India’s crypto tax represents both a threat to the industry and an opportunity to create a regulatory framework to support it, says Polygon’s Jaynti Kanani.

Azuki, an anime-inspired NFT avatar collection, surged over 140% in the past 24 hours to top Friday’s sales volume chart, surpassing Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club, according to CryptoSlam data.  See related article: Azuki, CryptoPunks battle it out for week’s top NFT title Fast facts With its latest spike, Azuki’s […]

Volatility has been the name of the game in the past few months, but experts tell Forkast that may be coming to an end.

Malaysia’s deputy finance minister Shahar Abdullah turned down a proposal to adopt Bitcoin as legal tender on Thursday, calling cryptocurrency unfit for payments.  See related article: Malaysia ministry: adopt crypto as legal tender to engage the young Fast facts Abdullah voiced concerns around cryptocurrencies’ price volatility and cyber security risks. Zahidi Zainul Abidin, the deputy […]

South Korea’s financial watchdog has passed on the compliance of private cryptocurrency wallets to exchanges, as the Financial Action Task Force (FATF) travel rule went into effect on Friday. See related article: FATF updates regulatory guidance for crypto industry Fast facts “The travel rule only regulates transactions among individuals. There isn’t any rule pertaining to […]

EarnU, a play-to-earn crypto sports and esports prediction platform, has forayed into India, to target betting Indians looking to earn crypto rewards for correct predictions.  See related article: How sports and crypto are knocking it out of the park Fast facts EarnU is a game that is free to play for BETU token holders.  While […]

China’s anti-graft watchdog has warned that authorities are keeping a close eye on possible corruption behind underground cryptocurrency mining that persists even after the government banned the sector.  See related article: China ousts former official for supporting crypto mining, corruption Fast facts The Central Commission for Discipline Inspection (CCDI) of the Chinese Communist Party said […]

Russia State Duma deputy and Energy Committee chairman Pavel Zavalny proposed Bitcoin and national currencies as payment options for energy exports to “friendly countries,” such as Turkey and China, at a press conference on Thursday. See related article: EU says crypto included in sanctions against Russia and Belarus Fast facts Zavalny proposed gold and Russia’s […]

Cryptocurrency payments will be banned in Thailand starting April 1, the Securities and Exchange Commission (SEC) announced on Wednesday.  See related article: Thailand eases crypto tax burden until 2023 to promote industry Fast facts The SEC said price volatility, lack of customer safeguards, money laundering and cyber theft risks drove the decision to ban cryptocurrencies […]

Bollywood icon Amitabh Bachchan is in the crosshairs of Indian tax authorities again, this time for NFT sales.

Chinese telecommunications equipment maker ZTE has successfully registered a number of metaverse-related English trademarks. See related article: ‘Metaverse’ enters government radar at China’s Two Sessions Fast facts ZTE’s trademarks fall under the scientific equipment and communication services categories, setting the stage for the firm to provide related services in the metaverse. The partially state-owned Chinese […]

South Korean megacorporation SK Group’s information technology-investment arm, SK Square, is preparing to launch a cryptocurrency this year to build a blockchain-based virtual economy that would link its group of information and communications technology (ICT) businesses. See related article: South Korea wants to be the physical home of the metaverse Fast facts SK Square established […]

BAYC is one of the hallmark NFT collections and a billion-dollar ecosystem. This Forkast explainer explores the cartoon primates and what makes them so special.

Meta, formerly Facebook, has filed eight trademark applications with the United States Patent and Trademark Office (USPTO) relating to blockchain, crypto and the social media giant’s metaverse push. See related article: Meta showcases focus on AI, announces new voice assistant program Fast facts One of these applications includes a trademark for cryptocurrency services including exchange […]

Global Sales Volume NFT sales amounted to US$18.5 billion in 2021—a 570-fold increase from 2020 as the record bid for Beeple’s digital collage and the strong reception for NBA Top Shot attracted new collectors and boosted prices, data from NFT industry data aggregator CryptoSlam showed. Companies from Gucci and Ray-Ban to McDonald’s and Coca Cola […]

Growth drivers of the NFT ecosystem The growing popularity of NFTs is stunning, having risen from several hundred million dollars in sales when the market first started, to around US$20 billion in 2021. We believe the exponential growth seen around the world can be explained by the product-market fit: NFTs have effectively provided a bridge […]

The world’s first NFT dates back to 2014, when New York artist Kevin McCoy’s animation known as Quantum was originally minted on Namecoin, a blockchain forked from Bitcoin. Quantum eventually sold for US$1.47 million at a Sotheby’s auction in June 2021, but its host blockchain is buried deep in the history of NFTs, rarely visited […]

Top blockchain and crypto news: Bitcoin buzz in Malaysia. Yuga Labs teases Otherside. Blockchain verdict in China.

Blockchain gaming unicorn Animoca Brands co-founder and executive chairman Yat Siu said Web 3.0 needs rapid adoption in order to become more decentralized at Australia Blockchain Week in Melbourne on Wednesday. See related article: FTX heads Down Under as Australia looks to crypto industry Fast facts “If people don’t move into the space quickly enough, […]

Ethereum Classic (ETC) is leading the crypto market’s weekly rally by gaining 79.2% over the past seven days, a time frame in which all but five non-stable tokens in the top 100 by market cap landed in the green.  See related article: How Ethereum Classic’s 51% attacks reveal risks to Bitcoin and Ethereum Fast facts […]

The NFT marketplace landscape is getting more and more competitive. What are your thoughts on staying ahead in this competitive landscape? The NFT space is definitely the hottest industry on earth right now and it is the fastest-growing industry. There’s a lot of competition. At Mintable, we’re also growing very quickly. In order to continue […]

The Sandbox metaverse is made up of 166,464 unique land NFTs, digital pieces of real estate, that players can own to publish their creations, monetize their games or rent to other creators. These lands will host a wide range of experiences, and their limited number makes The Sandbox seem like a virtual Manhattan when it […]

1. What are programmable NFTs?  Programmable NFTs are completely customizable digital objects that can be programmed to change their appearance and purpose over time, allowing for the creation of unique objects and collectibles that can change in response to future events.  Picture a massive multiplayer online role playing game like World Of Warcraft, where you […]

From the lookout: Unbeknownst to those outside the NFT space, there’s a mammoth blockchain game on the horizon. Even before the launch of Star Atlas, which promises cinema-quality graphics, investors are already pouring millions of dollars to purchase in-game NFT items. The unreleased game’s leaderboard shows a player with US$4 million worth of assets. This […]

Asia looks set to become the next big market for NFTs, with some experts predicting the region may surpass the West as early as this year. Global Google search interest for the term “NFT” surged past “crypto” in January, with the search engine’s data showing growth originating in the East. Data from Taiwan, Japan and […]

NFTs serve as the bridge for millions of users who are beginning to move to Web3.0 through digital collectibles. New use cases outlined in the report have the potential to disrupt traditional industries such as music, art, ticketing and even education. Global sales of NFTs reached US$18.5 billion in 2021, which was 570 times higher […]

Avatars accounted for most of the growth in the NFT space in 2021, but diverse use cases are starting to emerge. More niche products are also emerging, including fractionalized property ownership, and DeFi products made specifically for the NFT ecosystem are expected to grow this year. Such developments were discussed in detail during interviews with […]

What major use cases or trends will we see in the NFT space in 2022? Trend 1: Mass adoption. Currently, we estimate there are around 1 million unique wallets globally that have been used to buy, sell or hold NFTs. We believe this number will rise sharply as more companies and developers create NFTs to […]