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Markets: Bitcoin, Ether slip; Cardano extends gains

Bitcoin and Ether dipped in Friday afternoon trading in Asia, with nearly all other top 10 non-stablecoin cryptocurrencies slipping. Dogecoin was the biggest loser, while Cardano’s ADA was the sole gainer in the top 10 cryptos.

Digital Currency Group shuts down wealth management unit: report

Cryptocurrency-focused conglomerate Digital Currency Group (DCG) is shutting down its wealth management unit called HQ, CoinDesk, a DCG-owned media outlet, reported on Friday.

Markets: Bitcoin, Ether little changed; Polygon, XRP lead losers; Cardano holds onto gains

Bitcoin and Ether traded little changed Friday morning in Asia, with most other top 10 non-stablecoin cryptocurrencies losing ground.

NFT December sales surge to highest since June amid ‘tax-loss harvesting’

Slump in prices of some non-fungible tokens and other digital assets allows U.S. holders to take advantage of a loophole to reduce capital gains taxes.

Silvergate cuts 40% of staff after facing US$8.1B in withdrawals amid FTX collapse

Cryptocurrency bank Silvergate Capital has laid off 40% of its staff, or about 200 employees, after the collapse of FTX.com, which sparked mass withdrawals of around US$8.1 billion.

India’s Crypto Outlook

WazirX VP Rajagopal Menon sits down with Forkast to provide some insight as survival becomes a huge concern for crypto exchanges in India.

Will crypto’s real-world impact become more evident in 2023?

Crypto Council’s Sheila Warren hopes to see more of crypto’s real-world use cases emerging in the media next year.

Crypto P2E game investments not protected by law, China court says

A Shanghai court ruled that investments in cryptocurrency-powered play-to-earn (P2E) games are not protected by law in China.

U.S. authorities to seize US$460 mln of Robinhood shares in FTX fraud case

U.S. prosecutors are moving to seize the US$460 million worth of Robinhood Markets Inc., shares linked to Sam Bankman-Fried, the former chief executive officer of Bahamas-based bankrupt cryptocurrency exchange FTX.com

How ‘naming collisions’ threaten the promise of Web3

What are ‘naming collisions,’ and why will unique user-owned identities play a pivotal role in Web3’s future success? Matthew Gould explains.

Markets: Bitcoin, Ether rise with most other tokens amid mixed signals on U.S. economic outlook

Bitcoin and Ether rose in Thursday morning trading in Asia along with most other top 10 non-stablecoin cryptocurrencies. Cardano led the gainers, while Litecoin and Tron were the only ones on that list to fall.

Blockchain in Davos

Welcome to The Daily Forkast – January 4, 2022 – presented by Angie Lau. As the bells rang in the new year, many said goodbye and good riddance to a year of headline grabbing failures in the blockchain space. From Ronin’s bridge hack, the collapse of Terra Luna, to the bankruptcy of FTX, 2022 was […]

Crypto payments firm Wyre reportedly shutting down amid market downturn

Cryptocurrency payments company Wyre is reportedly shutting down operations by the end of January, amid the broader crypto market downturn following the fall of FTX

Alameda Research transfers spark suspicions as SBF denies involvement

Top blockchain and crypto news: Where is Alameda Research’s money going? US tax loophole may give crypto investors a break. China’s blockchain momentum builds.

CeFi regulation to accelerate further 2023 

Regulators will focus on centralized finance instead of decentralized finance in 2023, Chainalysis’ Caroline Malcolm says.

Ripple expects SEC ruling in first half, clearer global regulations for digital assets in 2023 

Ripple Labs Inc. expects a court decision in the first six-months of this year in the case filed against the company by the U.S. Securities Exchange Commission. The SEC sued Ripple in December 2020 for allegedly selling US$1.3 billion in unregistered securities.

Crypto, digital assets account for 69% of online investment scams in Hong Kong

The Hong Kong Police received 1,503 online investment scam complaints over the first 10 months of 2022, 70% were related to cryptocurrencies.

U.S. banking regulators warn against cryptocurrency fraud, contagion risks

The U.S. Federal Reserve, FDIC and the OCC have issued a joint statement to warn banks of the risks with crypto assets.

Binance declines comment on speculation it may buy South Korean crypto exchange GOPAX

Binance declined to comment on reports in local media that it is in late stage talks to acquire South Korean digital asset exchange GOPAX.

Markets: Bitcoin price dips, Ether little changed, Litecoin adds to gains, Dogecoin biggest loser

Bitcoin slipped back, while Ether was little changed in mixed Wednesday morning trading in Asia for the top 10 non-stablecoin cryptocurrencies.

Sam Bankman-Fried pleads not guilty to fraud charges in FTX exchange collapse

Sam Bankman-Fried, the founder of the FTX cryptocurrency exchange that collapsed in November with billions of dollars in investor funds missing, pleaded not guilty to charges of fraud on Tuesday in New York.

Decentralized social media can change content ownership in 2023

NEAR Foundation’s Marieke Flament believes that Web3-based social media platforms could gain popularity in 2023.

Markets: Bitcoin, Ether inch up, XRP leads gains in top 10 cryptos

Bitcoin and Ethereum prices inched up in Tuesday afternoon trading in Asia, along with most other top 10 non-stablecoin cryptocurrencies by market capitalization. XRP led gains at 3.22%, followed by Polygon at 1.76% and Litecoin at 1.74%.

Bahamas regulator denies FTX CEO’s claims over seized assets

The Securities Commission of The Bahamas has rejected “material misstatements” made by FTX’s newly-appointed CEO, John J. Ray III

Final Fantasy’s Square Enix stays committed to blockchain despite backlash

Yosuke Matsuda, the president of Square Enix, has reaffirmed the gaming company’s commitment to blockchain technology.

DCG’s Silbert, Gemini’s Winklevoss start Twitter spat over frozen funds, billion dollar loans

Barry Silbert, the CEO of Digital Currency Group rejected claims that the company borrowed US$1.6 billion from its Genesis Global Capital.

Happy birthday to Bitcoin! What will it become when it’s all grown up?

It takes a village to raise a child, and Bitcoin is no different — we must support its growth but also set firm boundaries, writes Justin d’Anethan of Amber Group.

Markets: Bitcoin, Ether edge higher with crypto top 10; Litecoin surges after record transactions in 2022

Bitcoin and Ether prices rose in Tuesday morning trading in Asia, along with all the non-stablecoin top ten cryptocurrencies.

Hong Kong financial service providers gear up for retail crypto traders

Hong Kong’s financial services providers, including local brokers and fund managers, are seeking advice to prepare for new licensing requirements which will allow them to provide services to retail traders, according to a media report.

Will 2023 be the year of institutional DeFi adoption?

Despite a potential regulatory crackdown, 1inch Network’s Sergej Kunz believes institutions will start adopting DeFi on a large scale.

OKX’s OKB, OKT tokens surge at least 13% each after 85% quarter

OKB, the utility token of OKX, jumped by up to 15% during Asia trading hours on Monday. OKT, the native token of the OKX Chain, was up 13%.

FTX founder Sam Bankman-Fried allegedly cashes out US$684,000, on-chain data show

On-chain data showed that Sam Bankman-Fried, the founder of the now-bankrupt FTX exchange, sent around 570 Ether worth US$684,000 to a Seychelles-based exchange and Ren Protocol’s Bitcoin bridge on Wednesday

‘Tis the season for crypto tax-loss harvesting: IRS, regulators remain silent on crypto tax loophole ahead of new year

The past year has been tumultuous for crypto investors, with a bear market wiping out over half of Bitcoin’s market capitalization. However, with the end of the American tax year just days ahead, taxpayers could get some money back.

Stablecoins likely next in risk line, Karpelès says

A downward spiral of an algorithmic stablecoin was the beginning of the cryptocurrency industry’s troubles in 2022. Former Mt.Gox CEO Mark Karpelès says that the stablecoin drama is not over.

A series of events: Crypto’s 2022 timeline

Cryptocurrencies had a turbulent 2022 to say the least. Blockchain technology made progress but that failed to offset the multiple bankruptcies and hacks that plagued the industry through the year.
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Second set of transactions from Alameda wallets likely liquidators: Nansen

FTX liquidators may be behind the latest transactions from Alameda Research wallets, but someone else may have sent the first set of cryptocurrencies to decentralized exchanges.

Markets: Bitcoin, Ether inch up; XRP biggest loser among top 10

Bitcoin and Ether prices gained on Friday morning in Asia, while other top 10 cryptocurrencies by market capitalization were mixed.

Are VCs looking for the next big crypto star in 2023?

Illia Polosukhin of Near Protocol believes that VC capital will flow back into early-stage startups next year, as more companies will adopt crypto and Web3.

How crypto crimes are evolving, and what to expect in 2023

Ponzi schemes, investment scams and rug pulls have drained billions from crypto users in recent years. What new kinds of crypto crimes are on the horizon?

South Korea keeps betting on the metaverse, ignoring the current clunky technology

South Korea took a real shine to the metaverse in 2022, with the central government, regions and cities all interested in getting a piece of the virtual reality pie, despite criticism that the technology has a long way to go.

Argo Blockchain shares soar after selling Texas mining facility to Galaxy Digital

Bitcoin miner Argo Blockchain PLC’s stock price spiked by more than 100% during U.K. trading hours on Wednesday and to close 73.33% higher on the London Stock Exchange.

FTX founder Sam Bankman-Fried likely to enter plea deal: report

Sam Bankman-Fried is expected to enter a plea deal next week to fraud charges connected to the collapse of cryptocurrency FTX Reuters reported.

Markets: Bitcoin, Ether fall; Solana, Cardano show bigger losses

Bitcoin and Ether fell on Thursday morning in Asia. Solana lost 11% of its value, the steepest drop among top 10 non-stablecoin cryptocurrencies.

Sam Bankman-Fried used Alameda Research money to buy Robinhood shares

FTX founder Sam Bankman-Fried took funds from his trading firm, Alameda Research, to buy stock of trading app Robinhood, court documents revealed Tuesday.

Crypto addresses linked to Alameda Research have moved over US$100,000

Several wallets associated with Alameda Research, the trading arm bankrupt cryptocurrency exchange FTX.com, came to life on Wednesday, swapping various tokens. 

Kraken to shut Japan operations

Kraken announced on Wednesday that it will “cease its operations” in Japan and deregister from the Financial Services Agency.

A year to remember, a year to forget: Crypto highs and lows of 2022

From Terra and FTX crises to Ethereum’s triumphant Merge and China’s inventive NFT industry, Forkast reviews a rollercoaster year and its consequences.

Will non-financial use cases of NFTs emerge in 2023?

MetaKovan, owner of the world’s most expensive NFT owned by an individual, believes that crypto and blockchain are still the remedy for human corruption.

Why digital assets need regulations now more than ever

In times of market volatility, regulation can restore confidence and public trust in crypto, writes Albert Isola, Gibraltar’s minister for digital and financial services.

Biggest blockchain trends for 2023 and beyond

After a year of new all-time highs for major cryptocurrencies in 2021, 2022 was a challenging year for Web3. Industry experts tell Forkast what crypto has in store for 2023 and beyond.

Markets: Bitcoin, Ether slide; BNB leads gains across top 10 cryptos

Bitcoin and Ether prices dropped on Wednesday morning in Asia while other non-stablecoin top 10 cryptocurrencies posted mixed results with BNB leading gains.

Markets: Bitcoin, Ether extend gains; XRP biggest winner in top 10 cryptos

Bitcoin and Ethereum extended gains on Tuesday afternoon in Asia along with almost all other non-stablecoin top 10 cryptocurrencies by market capitalization. XRP was the biggest winner, rising nearly 4.8% in the last 24 hours.

Blockchain gets religion? Taiwan temple mints NFTs of local sea goddess

A centuries old Taiwan temple dedicated to a popular goddess has latched onto non-fungible tokens or NFTs as a means for worshippers to get access to pilgrimages and other events.

Markets: Bitcoin, Ether inch up, Dogecoin leads decline across top 10 cryptos

Bitcoin and Ethereum inched up in Monday afternoon trading in Asia. Most other non-stablecoin top 10 cryptocurrencies by market capitalization were little changed

14 years on, why Bitcoin will survive its growing pains

Like an awkward teen, Bitcoin is facing a crisis of confidence, writes Eddie Hui of MetaComp. What lies in store for the original cryptocurrency in 2023?

Sam Bankman-Fried, FTX misled investors, lent billions to Alameda, Caroline Ellison says

Caroline Ellison, former chief executive of trading firm Alameda Research, told a federal judge last week that she agreed with executives of FTX, including former CEO Sam Bankman-Fried, to mislead lenders and customers on how much Alameda was borrowing from the now-bankrupt exchange.

Bitcoin hashrate drops nearly 40% as deadly U.S. storm unplugs miners

The Bitcoin network hashrate has dropped by more than 38.8% from its peak on Wednesday, as many U.S.-based miners have been forced to switch down their facilities due to deadly blizzards. See related article: British Columbia suspends new electricity connections for crypto miners Fast facts See related article: Bitcoin mining difficulty rises 3.27% in latest […]

Markets: Bitcoin, Ether little changed; Dogecoin falls

Bitcoin and Ether changed little on Monday morning, along with nearly all other non-stablecoin top 10 cryptocurrencies by market capitalization.

No change in community banks’ view of crypto after FTX’s collapse, says ICBA’s Brian Laverdure

ICBA vice-president Brian Laverdure believes that community banks are unfazed by FTX’s collapse, but remain split on cryptocurrencies.

Time for reflection: How will FTX’s implosion impact crypto regulation?

This year’s cascade of crypto collapses should be a wake-up call to regulators, says the Independent Community Bankers of America’s Brian Laverdure.

Hong Kong arrests two for suspected involvement in digital asset fraud on AAX

Hong Kong’s commercial crime investigation bureau on Friday arrested two local men for suspected involvement in digital asset fraud on Atom Asset Exchange (AAX)

Worship in Web3

With Christmas around the corner we look at how religions are embracing blockchain and the metaverse.

Can crypto go mainstream in the next 18 months?

As the FTX debacle invites more stringent regulations, Caroline Bowler of BTC Markets believes crypto can go mainstream in the next 18 months.

The last 12 months the year to forget, says India’s WazirX crypto exchange  

A lot of the troubles for India exchanges in 2022 will run into next year as they shed staff and run down reserves to stay afloat, and not all are expected to make it.

Sam Bankman-Fried home for Christmas after making US$250 million bail in U.S.

Bankman-Fried won an upgrade from his Bahamas prison cell after posting bail following his extradition to the U.S. on Wednesday, where he faces charges for what prosecutors called “fraud of epic proportions.”

Markets: Bitcoin, Ether prices edge up; Dogecoin rebounds after heavy losses

Bitcoin and Ether traded higher Friday morning in Asia, along with nearly all other non-stablecoin top 10 cryptocurrencies. Dogecoin led the gains with a rise of nearly 4.5%, followed by Cardano and XRP. BNB edged lower.

Crypto’s traumatic year

This year hasn’t been the easiest for investors, will 2023 be better?

Decentralized exchanges could gain popularity following the FTX collapse

Ethan Buchman of Cosmos believes that 2023 may be the year of decentralized exchanges and more advanced cross-chain applications.

Retiring U.S. Senator Pat Toomey introduces bill for regulating stablecoins

U.S. Republican Senator Pat Toomey introduced a bill on Wednesday to set regulations for stablecoins and to further “sensible” regulation of cryptocurrency.

British Columbia suspends new electricity connections for crypto miners

British Columbia has paused new electricity connection requests from crypto miners for 18 months to support the province’s climate action.

U.S. authorities say two FTX, Alameda executives have pleaded guilty to fraud

Caroline Ellison and Gary Wang, two integral members of the Sam Bankman-Fried now collapsed cryptocurrency businesses, are cooperating with prosecutors.

Bankrupt miner Core Scientific may sell facilities under development: report

Core Scientific said it may sell some of its mining facilities under development that could be worth up to a gigawatt of power after it filed for bankruptcy protection.