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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.

DCG-owned Luno exchange to axe 35% of its staff

Cryptocurrency exchange Luno, the London-based trading platform owned by venture capital firm Digital Currency Group (DCG), will let go of 35% of its global workforce

EU looks to place limit on banks holding crypto

European Union lawmakers have voted in favor of a draft bill that imposes stricter capital requirements on banks holding crypto assets.

Will Genesis meet its maker amid creditors closing in?

Top blockchain and crypto news: Genesis bankruptcy begins. FTX chief ponders a reboot. China’s CBDC gets a smart-contract upgrade.

Markets: Bitcoin, Ether extend losses; Solana, Cardano biggest losers in top 10 cryptos

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.

Blockstream says it raised US$125 million to expand Bitcoin mining operations

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’s financial regulator aims to lift ban on foreign stablecoins by June this year

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.

Markets: Bitcoin rises above US$23,000; Polkadot, BNB lead gains across top 10 cryptos

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.

Bankrupt crypto lender Genesis ‘optimistic’ about resolving creditor dispute: Reuters

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.

Ethereum’s Shanghai Mainnet moves one step closer as “Shadow Fork” goes live

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.

Why Islamic finance is thriving despite global market storms

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’s CoinDCX exchange says crypto tax rules are reducing government revenue

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.

Binance says Signature Bank no longer supports crypto exchange transactions of under US$100,000

Signature Bank will not handle transactions of less than US$100,000 for crypto exchange customers starting in February, according to exchange giant Binance.

U.S.’ first nuclear-powered Bitcoin mining center to open in Q1

The U.S. will open its first nuclear-powered data center offering Bitcoin mining in the first quarter of the year.

Crypto ads should include risk warnings, says South African advertising regulation group

Crypto ads airing in South Africa must warn potential investors of risks, according to new guidelines by the country’s Advertising Regulatory Board (ARB).

Why Europe’s DORA regulation is a band aid but not a cure

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 to fund over 30,000 Web3 scholarships in 2023

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.

Genesis’s trading arm moving funds on blockchain, bankrupt units reveal extent of liabilities

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.

2023 Should be the Year of Web3 Security

Despite 2022’s turbulent impact on the crypto industry, Immunefi CEO Mitchell Amador believes this year could encourage better Web3 security.

Accelerator Graviton to help Indian Web3 start-ups get funding

India-focused accelerator Graviton has announced an initiative to help Indian Web 3.0 start-ups get up to US$50,000 in funding

Indian Budget Ahead

India’s crypto tax laws have caused local trading volume to plummet and the industry is hoping for better news in the upcoming budget session.

Markets: Bitcoin dips below US$21,000

Bitcoin slipped below US$21,000 in Friday afternoon trade in Asia while prices of other top 10 non-stablecoin cryptocurrencies were mixed. 

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.

Binance among top Bitcoin receivers of Bitzlato’s illegal funds, FinCEN says

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 chief John Ray mulls resurrection of collapsed crypto exchange

FTX is exploring options to revive its bankrupt international cryptocurrency exchange, FTX.com, CEO John Ray told the Wall Street Journal.

Stuck in stone? Why DLT transactions should be reversible

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.

Markets: Bitcoin bounces back above US$21,000, Cardano gains amid CoinDesk speculation

Bitcoin and Ether rebounded Friday morning in Asia along with all of the top 10 non-stablecoin cryptocurrencies. Cardano and Ripple led the gains.

Universal digital payments network for stablecoins, CBDCs launches at Davos

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.

S. Korean city Busan to launch digital commodities exchange, shelves crypto

Busan, South Korea’s second-largest city, announced Thursday that it will launch a digital commodities exchange in the second half of this year.

Markets: Bitcoin, Ethereum extend losses

Bitcoin and Ethereum fell Thursday afternoon in Asia, along with all other top 10 non-stablecoin cryptocurrencies on market concerns the U.S. Federal Reserve may increase interest rates further to tackle inflation. 

Former FTX U.S. CEO Sam Bankman-Fried rejects liquidators’ claim of recovered assets

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 crypto unicorn Amber Group slashes Hong Kong workforce, SCMP reports

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.

Markets: Bitcoin, Ether fall on U.S. economy worries, hawkish Fed comments on interest rates

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.

Genesis, Gemini face US charges over unregistered securities sales

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?

CFTC commissioner calls for clearer crypto regulations

Caroline Pham, commissioner of the U.S. Commodity Futures Trading Commission (CFTC) commissioner, has urged regulators to develop clearer crypto industry standards.

Silvergate reports US$1 billion loss, attributes to “crisis of confidence” in crypto sector

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.

FTX says US$415 mln in crypto hacked since bankruptcy filing

Bankrupt crypto exchange FTX told creditors that it lost around US$415 million worth of cryptocurrencies to hacks since it filed for bankruptcy.

Markets: Bitcoin, Ether prices little changed; Polkadot gains as Solana gives up ground

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.

China NFT platforms expand into Hong Kong in face of compliance risks on mainland

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.

Singapore court extends crypto lender Vauld’s creditor protection to Feb. 28

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

CryptoSlam, Forkast.News merge to form Web3 data intelligence platform

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.

South Korea launches online metaverse replica of capital city Seoul to improve public services

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.

S. Korean court says NFT game items are speculative, adds on to P2E ban

A South Korean court ruled against the release of a blockchain P2E game last Friday after determining that in-game NFTs promote speculation.

Your fitness app knows a scary lot about you. How secure is your data?

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?

It’s Ethereum forking time

Although investors fear the Shanghai upgrade brings selling pressure to Ethereum, Amber’s Justin D’Anethan shares why this can be a bull case for Ethereum.

China’s digital yuan needs WeChat, Alipay to boost adoption, experts say

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.
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What does the future hold for digital assets in 2023?

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.

Markets: Bitcoin, Ether rises; Solana is biggest gainer among top 10

Bitcoin and Ether gained in Monday afternoon trading in Asia, along with all other top 10 non-stablecoin cryptocurrencies.

Bitcoin miners return from winter storms, difficulty at an all-time high

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 […]

CEO of South Korea’s V Global US$2 bln crypto pyramid scheme gets 25 years in prison

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.

U.S. House of Representatives forms new cryptocurrency subcommittee

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.

Markets: Bitcoin, Ether little changed after weekend surge; Solana, XRP give back some gains

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.

Crypto lender Hodlnaut’s creditors reject restructuring plan, prefer liquidation: report

Creditors of Singapore-based crypto lending and borrowing platform Hodlnaut have rejected a proposed restructuring plan and wish to liquidate the company.

Asset Segregation

FTX’s collapse has led to many thinking about how to safeguard their digital assets.

Alameda liquidators get liquidated while consolidating funds on DeFi lending platform Aave

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

Weekly Market Wrap: Bitcoin rebounds above US$18,000, Ether gains over 13%

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?

Why is it harder to arrest Terra-Luna founder Do Kwon than FTX’s Sam Bankman-Fried?

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.

Markets: Bitcoin, Ether trade higher; Solana biggest weekly gainer among top 10 cryptos

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.

Crypto.com announces 20% cut in headcount, cites post-FTX market conditions

Crypto.com will lay off 20% of its workforce, its co-founder and chief executive officer Kris Marszalek said Friday in a Twitter post.

SEC in the U.S. charges Genesis, Gemini with selling unregistered securities

The U.S. Securities and Exchange Commission on Thursday charged cryptocurrency lender Genesis Global Capital and crypto exchange Gemini Trust with offering and selling unregistered securities to retail investors.

Coinbase to cut jobs, shut down most of its cryptocurrency operations in Japan

Coinbase, the world’s second largest cryptocurrency exchange by trade volume, is cutting jobs and closing down most of its operations in Japan.

Markets: Bitcoin, Ether prices jump as U.S. indicator shows inflation pressure is easing

Bitcoin and Ether prices jumped in Friday morning trading in Asia after the December U.S. Consumer Price Index released overnight rose 6.5%.

Shanghai Two Sessions: metaverse development requires stronger supervision

Shanghai Two Sessions’ delegate urges stronger supervision in the metaverse industry, as metaverse fever continues.

Binance obtains approval in Sweden to fuel Europe expansion

Binance, the world’s largest cryptocurrency exchange, has received regulatory approval from the Swedish Financial Supervisory Authority to operate as a financial institution to manage and trade in virtual currency, as part of the exchange’s continuing expansion in Europe.

Binance says it plans to expand hiring by as much as 30% in 2023 as rivals cut jobs

Binance, the world’s largest cryptocurrency exchange by volume, is planning to increase staff by as much as 30% this year.

FTX loses Miami Heat stadium sponsorship

National Basketball Association (NBA) team Miami Heat’s home arena will soon be renamed after a Florida judge ended the naming rights agreement between the bankrupt cryptocurrency exchange, FTX.com, and Miami-Dade County

Bankrupt FTX exchange has recovered US$5 bln worth of ‘liquid’ assets, lawyers say

The names of the crypto exchange’s 9 million customers and creditors will remain sealed from the public for at least three months.