BlockFi said it needed bonus payments to keep employees from fleeing the company. But creditors argue the plan is excessive when compared to other crypto bankruptcies.
Bitcoin this week broke through the US$23,000 price ceiling for the first time since Aug. 2022. Can the benchmark cryptocurrency maintain its momentum? Industry commentators share their views with Forkast on what the market is telling investors and the signals from the U.S. Federal Reserve on interest rates.
Bitcoin and Ether gave up some of their January gains in Friday morning trading in Asia, though both are still higher for the week.
Lawyers for the bankrupt cryptocurrency exchange, FTX.com, filed a document with a list of its institutional creditors on Thursday, which included major technology firms, publications and government bodies.
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.
FTX’s implosion is spurring a regulatory scramble to rein in the crypto sector. But one influential US lawmaker may do more harm than good, writes Kadan Stadelmann, CTO of Komodo.
Markets: Bitcoin, Ether prices rise as crypto market stages rebound; Solana biggest gainer among top 10
Bitcoin and Ether rebounded in Thursday morning trading in Asia amid broad gains in the top 10 non-stablecoin cryptocurrencies.
Top blockchain and crypto news: Genesis bankruptcy begins. FTX chief ponders a reboot. China’s CBDC gets a smart-contract upgrade.
Bitcoin and Ethereum fell in Wednesday afternoon trading in Asia, as Solana and Cardano led losses among the other top 10 non-stablecoin cryptocurrencies by market capitalization.
Blockchain infrastructure firm Blockstream Corporation Inc. on Tuesday said it raised US$125 million from convertible note and secured loan financing to expand its Bitcoin mining operations and meet strong demand for what it called “institutional hosting services.”
Japan plans to introduce regulations by June this year that will allow domestic investors to trade certain stablecoins from overseas.
Markets: Bitcoin, Ether dip as investors take profits; earnings reports, economic data rattle equities
Bitcoin and Ether fell in Wednesday morning trading in Asia, along with the other top 10 non-stablecoin cryptocurrencies as investors seemed to be taking profits after the strong gains in crypto prices since the start of the year.
Regulators should not legitimize ‘purely speculative’ crypto activity: Singapore’s monetary authority chief
Regulators should not legitimize “purely speculative” activity in crypto markets following the collapse of FTX, said Monetary Authority of Singapore Chairmen.
Bitcoin broke the US$23,000 resistance line in Tuesday afternoon trading in Asia, with most other top 10 non-stablecoin cryptocurrencies by market capitalization also higher.
Genesis Global Capital’s lawyers are confident about resolving their disputes with creditors this week, with the goal of emerging from Chapter 11 in May.
Software developers for Ethereum, the world’s second-largest blockchain, on Monday said they successfully deployed a copy of the blockchain — or “shadow fork” — to run tests of the upcoming Shanghai hardfork upgrade scheduled for March.
While much of the world economy remains mired in winter doldrums, it’s springtime for the Islamic finance sector. Mohammed AlKaff AlHashmi of Islamic Coin explains why.
Markets: Bitcoin edges higher, Ether little changed; XRP, Polkadot post strong gains in mixed market
Bitcoin edged higher to the US$23,000 resistance line, while Ether traded little changed in mixed early morning trading in Asia on Tuesday.
India announces its full year budget on Feb. 1, the last before general elections in 2024, and the cryptocurrency and digital asset industry is lobbying the government for changes in tax rules, among others.
Signature Bank will not handle transactions of less than US$100,000 for crypto exchange customers starting in February, according to exchange giant Binance.
The U.S. will open its first nuclear-powered data center offering Bitcoin mining in the first quarter of the year.
Crypto ads airing in South Africa must warn potential investors of risks, according to new guidelines by the country’s Advertising Regulatory Board (ARB).
EU’s new Digital Operational Resilience Act aims to help firms withstand cyberattacks. Monica Oravcova of Naoris Protocol explains why it doesn’t go far enough.
Binance Charity Fund, the philanthropic arm of the world’s largest crypto exchange, Binance Global Inc., has announced it is funding 30,665 Web3 scholarships in 2023.
According to on-chain data, the trading arm of bankrupt crypto lending firm Genesis is still moving funds around on the blockchain.
Markets: Bitcoin holds at four-month high above US$22,000, crypto market cap back over US$1 trillion
Bitcoin traded little changed Monday morning in Asia, holding above a four-month high of US$22,000 amid a broader rally over the weekend, helped by comments from a U.S. Federal Reserve official backing a smaller interest rate increase at the central bank’s meeting at the end of this month.
India-focused accelerator Graviton has announced an initiative to help Indian Web 3.0 start-ups get up to US$50,000 in funding
Weekly Market Wrap: Bitcoin up over 21% in best weekly performance since Feb. 2021. Bull run or bull trap?
Bitcoin’s price has had its best weekly run up since February 2021 in the seven days through Jan. 18, but is that the start of a bull run or setting up the optimists for a sucker punch? Experts share their predictions with Forkast.
The Financial Crimes Enforcement Network (FinCEN), a bureau of the United States Department of the Treasury that combats financial crimes, has named Binance, the world’s largest cryptocurrency exchange, as one of the top three receiving counterparties of Bitzlato Ltd.
FTX is exploring options to revive its bankrupt international cryptocurrency exchange, FTX.com, CEO John Ray told the Wall Street Journal.
Why insist that ‘code is law’ when the reality is riddled with human error, sloppy design and tampering? Paul Madsen of HBAR Foundation reexamines one of the central tenets of blockchain technology.
Bitcoin and Ether rebounded Friday morning in Asia along with all of the top 10 non-stablecoin cryptocurrencies. Cardano and Ripple led the gains.
The Universal Digital Payments Network (UDPN), which aims to offer interoperability between regulated stablecoins and CBDCs, was launched today at the World Economic Forum in Davos.
Busan, South Korea’s second-largest city, announced Thursday that it will launch a digital commodities exchange in the second half of this year.
Founder and former chief executive of FTX U.S., Sam Bankman-Fried, has rejected claims by the company’s current leadership made in a presentation on Tuesday that the team has only recovered US$181 million worth of funds from the exchange.
Singapore-based digital asset manager Amber Group has cut its Hong Kong staff by half to 40 to weather a slump in cryptocurrency prices and a cascade of bankruptcies in the industry.
Bitcoin and Ether fell Thursday morning in Asia along with most other top 10 non-stablecoin cryptocurrencies on concerns about the direction of the U.S. economy and interest rates.
Cutting in the middlemen: How embracing real estate tokenization can boost business for property brokers
One of the most lauded benefits of bricks-and-mortar tokenization is less intermediary involvement in transactions. Tokenization can certainly make real estate investment cheaper and more efficient, but it’s also a potential win for property professionals.
Top blockchain and crypto news: SEC frowns on Genesis, Gemini. Solana soars. Will China tighten its embrace of WeChat Pay and Alipay to push its CBDC?
Caroline Pham, commissioner of the U.S. Commodity Futures Trading Commission (CFTC) commissioner, has urged regulators to develop clearer crypto industry standards.
U.S.-based cryptocurrency bank Silvergate Capital Corp., which saw clients withdraw more than US$8 billion late last year, on Tuesday reported a US$1 billion loss for the fourth quarter of 2022, a slump it attributed to a “crisis of confidence” in the sector resulting from several large bankruptcies.
Bankrupt crypto exchange FTX told creditors that it lost around US$415 million worth of cryptocurrencies to hacks since it filed for bankruptcy.
Bitcoin and Ether were little changed in a muted morning of trading on Wednesday in Asia, as few top 10 non-stablecoin cryptocurrencies moved by more than 1% in either direction.
Hong Kong’s new digital asset-friendly policies could set the city up as the home for secondary NFT marketplaces from China as trading of ‘digital collectibles’ remains a gray area on the mainland.
The Singapore High Court has extended the creditor protection period for crypto lender Vauld to Feb. 28, as the firm has yet to come up with a revival plan
Web3 media company Forkast.News and blockchain data analytics firm CryptoSlam are merging to establish Forkast Labs, a media intelligence platform for the digital economy that will combine on-chain data analytics and journalism.
S. Korea’s capital city opened the first stage of ‘Metaverse Seoul’ on Monday, which it claims is the first city-backed public metaverse in the world.
A South Korean court ruled against the release of a blockchain P2E game last Friday after determining that in-game NFTs promote speculation.
Being on the watch, your tracker knows where you live, when you sleep and how healthy (or not) you are. What happens if your data is sold — or hacked?
The central bank rolled out a “red packet” feature for its digital currency, the e-CNY, for the Lunar New Year holiday but it will require help from the tech giants it has bashed to popularize the digital yuan.
NFTs, tokenization and blockchain-based cross-border payments will see big paradigm shifts, but their success will depend on regulation, investment and adoption, writes Stephen Richardson of Fireblocks.
Bitcoin and Ether gained in Monday afternoon trading in Asia, along with all other top 10 non-stablecoin cryptocurrencies.
The Bitcoin mining difficulty level jumped 10.26% on Monday morning in Hong Kong, hitting an all-time high reading of 37.59 trillion, as several U.S-based miners came back online from recent winter storms that forced them to unplug, according to data from BTC.com. See related article: Bitcoin hashrate drops nearly 40% as deadly U.S. storm unplugs […]
Lee Byung-gul, the CEO of V Global, will serve 25 years in prison after his conviction was upheld by the Supreme Court of Korea on Friday.
The U.S. House of Representatives has created a new congressional subcommittee focused on digital assets, as one of its first moves under the control of the Republican Party.
Bitcoin and Ether prices were little changed in Monday morning trading in Asia. Several of the top 10 non-stablecoin cryptocurrencies took a breather after strong gains over the weekend on the back of signs inflation may have peaked in the U.S.
Creditors of Singapore-based crypto lending and borrowing platform Hodlnaut have rejected a proposed restructuring plan and wish to liquidate the company.
Alameda Research liquidators were liquidated for US$72,000 from an on-chain position on decentralized finance (DeFi) lending platform Aave while trying to consolidate funds
Bitcoin rallied above the US$18,000 mark for the first time in nearly a month. Is this the start of a bull run or just another relief rally on the back of easing inflation pressure?
South Korea’s attempts to extradite the founder of the collapsed Terra-Luna stablecoin will remain hamstrung while the courts in Seoul dispute the charges against him.
Bitcoin and Ether rose in Friday afternoon trading in Asia, along with all other top 10 non-stablecoin cryptocurrencies, after the U.S. posted a 6.5% year-on-year increase in the Consumer Price Index for December, which came in lower than inflation readings in previous months.