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Binance rejects U.S. charges of violating trading rules, manipulating markets

Binance CEO Changpeng Zhao said the charges are “an unexpected and disappointing civil complaint” in response to the CFTC lawsuit filed on Monday against him and the world’s largest crypto exchange.

Montenegro to hold Terra-Luna fugitive Do Kwon for 30 days, says Yonhap News

Kwon Do-hyung will be held in Montenegro for a month on charges of using forged travel documents, South Korea’s Yonhap News reported.

Is our banking system obsolete?

For long, people could only put cash into a bank account or under the mattress, writes Eric Johnson. Will blockchain technology offer a viable alternative?

Bitcoin, other crypto fall as U.S. sues Binance; U.S. equities gain as banks stabilize

Bitcoin fell Tuesday morning in Asia along with most other top 10 non-stablecoin cryptocurrencies after the U.S. filed a lawsuit against Binance.

Binance, Zhao sued by CFTC for alleged regulatory violations

Binance and founder Changpeng Zhao have been sued by the CFTC for allegedly violating derivative rules

MicroStrategy buys 6,555 Bitcoin worth US$150 mln

MicroStrategy acquired 6,555 Bitcoin for around US$150 million, at an average price of US$23,238 per coin, between Feb. 16 and March 23

Bitcoin rises, most top 10 cryptos drop, amid mixed signals on state of banking sector

Bitcoin rose while Ether and most of the other top 10 non-stablecoin cryptocurrencies fell during afternoon trading in Asia on Monday.
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What impact will Ethereum’s Shanghai upgrade have on ETH and crypto markets?

Despite the potential sell pressures after Ethereum’s upcoming hard fork, it’s more likely that ETH stakers will hold for the longer term, writes Bill Xing of Bybit.

China state-owned banks turn crypto-friendly in Hong Kong: Bloomberg

China banks in Hong Kong are offering services to crypto businesses, Bloomberg reported on Monday, as more digital asset firms operate in the city.

G7 nations set to push for stricter cryptocurrency regulations at Japan summit in May

The Group of Seven industrial countries will discuss tougher rules on cryptocurrencies to improve transparency, protect investors.

Bitcoin gains as investors diversify amid worries about banking system; U.S. equity futures rise

Bitcoin and the other top 10 non-stablecoin cryptocurrencies rose on Monday morning in Asia, as investors diversify amid the ongoing banking turmoil.

Weekly Market Wrap: Bitcoin hovers around US$28,000 as banking concerns return. Will it hit US$30,000?

As banking contagion worries reignited, Bitcoin traded firmly above US$28,000 for most of the week. Considering that Bitcoin was made for a potential banking crisis, industry experts are eyeing the US$30,000 mark for BTC.

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.

Hong Kong blockchain initiatives natural evolution for finance hub, says Signum Digital CEO

Hong Kong’s new crypto licensing regime isn’t the only bullish sign for the city’s digital asset industry, says Signum Digital, the first company to win a preliminary license to handle securitized tokens in the city.

Bitcoin mining difficulty rises 7.6% to set new all-time high as hashrate jumps

Bitcoin’s mining difficulty level rose 7.56% on Friday, hitting an all-time high along with the network’s hashrate, showing miners are applying more computing power.

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.

Death and crypto taxes: Which one inspires greater dread?

Filing taxes on crypto assets is a ‘massive pain in the proverbial butt,’ writes Don Gossen of Nevermined. As IRS deadlines loom large, how can responsible investors avoid underreporting or overpaying?

Hong Kong may face backlog in virtual asset license applications as demand grows, former SFC regulator says

Angelina Kwan, who helped shape early Hong Kong automated trading services and internet trading regulation, told Forkast the upcoming virtual asset licensing regime is almost identical to that for traditional financial institutions.

South Korea confirms identity of man arrested in Europe as Terra-Luna fugitive Do Kwon, seeks extradition

South Korea’s police said they confirmed the identity of a man arrested in Montenegro, Europe, as the Terraform Labs co-founder Kwon Do-hyung, who is wanted on charges of fraud related to the collapse of the stablecoin and cryptocurrency project he led.
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Bitcoin, Ether, Forkast 500 NFT index fall, gold rises, as Janet Yellen rules out broad bank deposit insurance

Bitcoin and Ether fell during Asian trading hours on Friday, along with most of the top 10 non-stablecoin cryptocurrencies by market capitalization, with Binance’s BNB sustaining the biggest loss in the top 10.

SEC warns Coinbase of potential legal action over staking, separately targets Tron founder Sun

The Securities and Exchange Commission has warned Coinbase, the largest cryptocurrency exchange in the U.S., it may face legal charges related to staking services and digital asset listings.

How DAOs can be remade to be more efficient and successful

DAOs are exploding in popularity but still hampered by weak governance and treasury mismanagement. What can help these novel organizations become more effective?

Bitcoin tracks equities lower on downbeat Fed, Treasury comments on banks

Bitcoin fell on Thursday morning in Asia, tracking equities lower after the U.S. Fed indicated interest rates could stay higher for longer.

Centralized intermediaries were cause of crypto failures in 2022, says Voorhees

If there was a lesson from the crypto implosions of 2022, it is the demonstration of the superiority of open code and decentralization over central intermediaries, argues Voorhees at DC Blockchain Summit.

Magic Eden introduces Bitcoin Ordinals for NFT traders

Magic Eden, the largest Solana-based non-fungible token (NFT) marketplace, has launched its “audited” Bitcoin Ordinals for NFT traders.

K-pop star G-Dragon launches NFT on OpenSea with Fandom Studio, BNB Chain

South Korean singer G-Dragon has launched an NFT collection on OpenSea in collaboration with Fandom Studio.

Bitcoin moves above US$28,000, Ether gains, XRP surges, U.S. equities rally

Bitcoin held above US$28,000 on Wednesday morning in Asia amid a rebound in most top 10 non-stablecoin cryptocurrencies. XRP led the winners.

Indian crypto exchange WazirX blocks over 2,400 accounts in 6 months

WazirX, India’s largest crypto exchange by trade volume, has blacklisted over 2,431 accounts between October 2022 and March 2023, based on its internal monitoring process as well as under the direction of law enforcement agencies (LEA). 

DAO: Beyond Governance

Can DAOs rebuild trust in the crypto industry?

Terraform Labs founder Daniel Shin again questioned by South Korea prosecutors over stablecoin collapse

Terraform Labs co-founder Shin Hyun-seung, also known as Daniel Shin, was again called in for questioning by South Korea’s prosecutors on Monday.

Crypto needs to look abroad as US exchanges go unbanked

The fall of Silvergate, SVB and Signature has left crypto firms scrambling for new banks. Will crypto banking head offshore for the long term?

Bitcoin treads water, other crypto retreat ahead of U.S. Fed’s decision on interest rates

Bitcoin traded flat below US$28,000 on Tuesday morning in Asia. Most other top cryptocurrencies retreated ahead of a U.S. decision on interest rates.

Singapore to publish crypto, stablecoin consultation feedback by mid-2023

The Monetary Authority of Singapore (MAS) aims to publish cryptocurrency and stablecoin consultations feedback by the middle of this year, it said Monday.

Crypto Layoffs

Thousands of people have lost jobs in the tech industry, how is crypto faring?

Over 80 Web3 firms in line to set up shop in HK, ahead of crypto regulations taking effect in June

Over 80 foreign and Mainland China companies have expressed their interest in establishing a Web3 company in Hong Kong, ahead of new crypto regulations that will take effect from June

Bitcoin rises past US$28,000, most other top 10 cryptos gain

Bitcoin traded above US$28,000 on Monday afternoon in Asia, a gain of 25% over last week, as a banking crisis in the U.S. and Europe prompted traders to see Bitcoin as a safe haven.
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Singapore-based Crypto.com gets preparatory license to expand services in Dubai

Singapore-based cryptocurrency exchange Crypto.com will soon be able to extend its services in Dubai, after it received a Minimal Viable Product (MVP) Preparatory License from Dubai’s Virtual Assets Regulatory Authority (VARA). 

How NFTs can protect creators and fortify their legal rights

The digital era has made piracy rampant and copyright enforcement difficult, but blockchain technology is shifting power back to creators, writes Wes Levitt of Theta Labs.

Taiwan’s financial supervisory commission will oversee crypto, chair says

Crypto in Taiwan remains largely unregulated, but lawmakers have requested the cabinet to appoint a regulator by May 16 to oversee all things crypto.

Crypto data provider Kaiko to move Asia HQ to Hong Kong from Singapore: Bloomberg

Paris-based Kaiko will move its Asian headquarters to Hong Kong as it sees growing crypto-related opportunities in the city.

Bithumb executive faces investigation over alleged bribery in South Korean crypto listing

South Korean prosecutors are investigating Lee Sang-jun, the CEO of Bithumb’s holding company, for alleged bribery in listing certain tokens on the platform.

New York Community Bancorp unit to assume Signature Bank deposits, FDIC says

New York Community Bancorp will assume all deposits and certain loan portfolios of the failed Signature Bank, the FDIC said on Sunday.

Bitcoin leads crypto rally as central banks promise liquidity to stem rising bank risk

Bitcoin briefly breached US$28,000 at the weekend in a bullish run extending into Monday morning in Asia amid worries about bank risk.

Weekly Market Wrap: Bitcoin rises above US$26,000, as ‘store of value’ narrative strengthens amid bank failures

As the U.S. banking system stared into the pit of bank runs and collapsing share prices, the authorities acted swiftly to try and pull everything back from the edge. However, Bitcoin seemed unperturbed. Is this what a safe haven looks like?

Bitcoin, Ether rise; relief for investors as major banks get liquidity lifeline

Bitcoin and Ether rallied by the end of Asian trading hours on Friday afternoon, together with all other top 10 non-stablecoin cryptocurrencies by market capitalization.

Enterprise software giant Salesforce partners with Polygon for NFT-based loyalty programs

Salesforce has partnered with Polygon Labs to help its clients develop non-fungible token (NFT) based loyalty programs on the Polygon blockchain.

Signum Digital says it won first approval to offer security tokens in Hong Kong

Signum Digital said it’s the first company to win preliminary approval in Hong Kong to operate a platform to trade security tokens.

Bitcoin, Ether, other crypto gain with equities amid global fund injections to support banks

Bitcoin neared the US$25,000 mark on Friday morning in Asia. Cryptocurrencies gained as the U.S. and Europe moved to backstop troubled banks with cash.

Who should be held responsible for the Silvergate Bank and SVB crises?

As bank after bank topples, fingers are pointing everywhere. But crypto is not to be blamed for this unfolding crisis, writes Winston Hsiao of XREX.

US, Germany shut ChipMixer for alleged ties to US$3 bln crypto laundering 

US, and German shuttered ChipMixer, a cryptocurrency service that allegedly laundered more than US$3 billion in crypto since 2017.

Ripple executives say XRP lawsuit ruling will have little impact on global business operations

The court ruling in a lawsuit brought by the SEC against Ripple will have minimal impact on the company’s business, APAC policy director Rahul Advani said.

South Korea cranks up pressure to extradite Do Kwon, founder of failed Terra-Luna stablecoin

South Korean prosecutors said they will expand cooperation with overseas legal agencies to facilitate the arrest and extradition of Do Kwon.

US accuses exiled Chinese tycoon Guo Wengui of $1 billion crypto-linked fraud

Guo Wengui, an exiled Chinese billionaire, was arrested in New York on Wednesday for allegedly orchestrating a more than US$1 billion fraud conspiracy that included cryptocurrency, according to the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). See related article: U.S. banking regulators warn against cryptocurrency fraud, contagion risks Fast facts […]

Bitcoin, Ether drop, other top cryptocurrencies retreat as bank liquidity concerns rise

Bitcoin and Ether dropped in Thursday morning trading in Asia along with most other leading tokens amid broader concerns about bank liquidity.

Bitcoin, Ether, Forkast 500 NFT index extend gains; U.S. banking crisis concerns ease as inflation slows to 6%

Bitcoin and Ether rose on Wednesday afternoon in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Solana and Polygon were the biggest gainers, both rising above 5% in the last 24 hours.
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Anchorage Digital lays off 20% of staff amid low NFT demand, says bank unit not affected

Digital asset platform Anchorage Digital will lay off 75 employees as it restructures to meet regulation challenges.

Bitcoin, Ether continue run up; Solana, Dogecoin lead gainers; U.S. equities rebound

Bitcoin and Ether continued strong price gains, with most of the top 10 non-stablecoin cryptocurrencies logging advances for the past seven days.

Bitcoin breaks US$26,000 as inflation cools in February

Bitcoin, the world’s largest cryptocurrency, rallied past the US$26,000 mark at 09:15 p.m. in Hong Kong, shortly after the release of the United States Consumer Price Index (CPI)

Circle’s Disparte speaks on de-risking crypto from banking risks

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.

A crisis of value?

Why the banking collapse could save NFTs.

China regulator says NFT-related complaints skyrocketed in 2022

Amid the NFT hype in 2022, Chinese buyers’ complaints about NFT scams and price manipulations surged 30,000% to 59,700 from 198 in the year before.

Meta plans to wind down NFT initiatives on Facebook, Instagram to focus on other services

Meta Platforms, the parent company of Facebook and Instagram, will wind down its non-fungible token operations on both social media services.

FBI investigating the collapse of Do Kwon’s Terra-Luna, WSJ reports

Former employees of Do Kwon’s Terraform Labs are being questioned by the FBI and U.S. prosecutors in New York.

Bitcoin jumps above US$24,000, leading crypto gains as U.S. acts to backstop banks

Bitcoin continued to gain in morning trading in Asia, as regulators acted to backstop the U.S. banking industry. Most of the top 10 cryptocurrencies gained.

Banks are bringing systemic risks to crypto, says Circle’s Disparte

The recent U.S. bank failures are proof that the banking system is introducing systemic risks to the crypto industry, not vice versa, says Circle chief strategy officer Dante Disparte.

Bitcoin, Ether gain after U.S. regulators take charge to shield deposits across crypto-related banks

Bitcoin and Ether gained in Monday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization, after U.S. regulators took charge of Silicon Valley Bank and Signature Bank, both with exposure to crypto industry, protecting deposits and confirming that no losses will be borne by the taxpayer. 
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Beware the perils of one-size-fits-all approach to crypto investing

The collapse of Voyager and Celsius highlights the risks of crypto investing apps and underscores the need for tailored user education, writes Jackson Zeng of Caleb & Brown.

Circle says US$3.3 bln USDC reserve at SVB available Monday, announces partnership with Cross River

Circle said the USDC reserve deposits held at the failed Silicon Valley Bank will be recovered when banks open on Monday.

Circle’s USDC stablecoin regains parity as regulators act to stop bank run risk

Circle said its $3.3 billion of USDC cash reserves at the collapsed Silicon Valley Bank will be available Monday after regulators stepped in to backstop deposits.

Bitcoin jumps more than 9% as U.S. acts to protect deposits at crypto-linked banks

Bitcoin and Ether led a rebound in cryptocurrencies in Asia morning trading as U.S. regulators backstopped banks with ties to the crypto industry.

U.S. regulators shutter Signature Bank, lender to Paxos, Coinbase, citing systemic risk

U.S. regulators closed New York-based Signature Bank, one of the biggest lenders in the crypto industry, due to risks of a systemic failure.

Weekly Market Wrap: Bitcoin falls below US$20,000 as Silvergate collapse, rate hike concerns rise

Bitcoin fell below US$20,000 for the first time since Jan. 13 on the back of crypto bank Silvergate’s collapse and the U.S. Fed signaling higher than expected interest rate hikes.