Top blockchain and crypto news: SBF’s Voyager rescue deal spurned. Tesla pulls U-turn with BTC sale. Tencent cuts local NFT staff as it looks abroad.
Aiming to uncover the next “BTS in finance,” Chairman Kim Joo-hyun of the Korean Financial Services Commission (FSC) is calling for “bold reforms” in financial regulations, including in crypto assets.
Lawmakers in the U.S. House of Representatives are pushing to introduce a stablecoin bill draft this week before the House breaks for August recess, according to four unnamed sources “familiar with the plan” cited by The Block. See related article: Hold onto your crypto bags, the regulators are coming Fast facts The proposal on stablecoin […]
The 3,000 generative non-fungible token (NFT) collection featuring late rapper Christopher Wallace, better known as Notorious B.I.G. or Biggie Smalls, sold out in about 10 minutes at marketplace OneOf. See related article: China’s ‘Instagram’ gets into virtual fashion with users strutting NFT clothes Fast facts Sky’s the Limit is an NFT profile picture collection that […]
Venture capitalists (VCs) poured at least US$17.5 billion into the crypto and blockchain industry in the first half of this year, Reuters reported, citing PitchBook data. See related article: Blockchain, crypto investment soars in H1 2021 Fast facts VC investments in blockchain and crypto startups topped US$26.9 billion in 2021. North American startups were at […]
Bitcoin quickly rebounded above US$21,000 coming into Asian trading hours on Wednesday after falling below the mark overnight since the International Monetary Fund (IMF) cut its global growth outlook for this year and next, warning that the world economy may soon be on the cusp of an outright recession. See related article: IMF says crypto crash […]
South Korean prosecutors investigating Terra-LUNA have requested the Ministry of Justice to place a “notification upon arrival” on Terraform Labs chief executive officer Do Kwon and a travel ban on Terra cofounder Shin Hyun-seung, according to local media reports. See related article: South Korean prosecutors said to have raided Terra cofounder Shin’s residence Fast facts […]
The International Monetary Fund (IMF) said Tuesday that the cryptocurrency market turmoil hasn’t quite affected global financial stability. See related article: Crypto volatility hasn’t had macroeconomic implications so far: Jerome Powell Fast facts In a report published Tuesday, the IMF said crypto assets have “experienced a dramatic selloff” that has led to losses in crypto […]
Male-dominated workplaces, lack of proper educational resources, challenge women and act as barriers for them to engage in Web3.0, according to a survey by KuCoin. See related article: NEAR Foundation, Forkast partner to showcase talented, socially mindful women in Web3 Fast facts Despite challenges, 60% of female professionals recognize their unique value in facilitating better […]
In his first State of the Nation address, Philippine President Bongbong Marcos Jr. laid out his administration’s plans for the next six years including the imposition of tax on digital service providers that could include crypto exchanges.
The price of BNB Chain-based Teddy Doge (TEDDY) fell over 99.9% in 24 hours on Monday in Asia as over US$4.5 million of the token was sold over the weekend, in what some analysts described as a “soft rug pull.” The token was trading at just a fraction of a dollar on Tuesday in Asia. […]
Taiwan-based smartphone and virtual reality (VR) headset maker HTC is partnering with Japanese creator platform pixiv to launch Japanese anime-style three-dimensional (3D) avatars on its metaverse platform VIVERSE, a press release said. See related article: HTC launches metaverse phone with Ethereum, Polygon support Fast facts “The partnership with pixiv will rapidly increase the number of […]
Crypto exchange Zipmex, which announced that it is in serious discussions with potential investors on Monday, is looking to raise US$50 million to cover its exposure to Babel Finance and Celsius Network, Bloomberg reported. See related article: Zipmex says considering possible offer Fast facts Zipmex’s fundraising target is close to its exposure to Babel Finance, […]
After bankrupt crypto broker Voyager Digital rejected a proposal to buy out its assets and loans — except the loan to insolvent crypto hedge fund Three Arrows Capital — FTX CEO Sam Bankman-Fried (SBF) took to Twitter to lash out. See related article: FTX proposes buying out Voyager assets and loans except for 3AC to […]
Cryptocurrency exchange KuCoin has “no exposure to LUNA & wLUNA,” and its recent fundraising “has nothing to do with the market downtrend,” the firm’s CEO said on his verified Twitter handle. See related article: How cold storage can ward against this crypto winter’s freeze Fast facts KuCoin CEO Johnny Lyu was responding to rumors about […]
As the Celsius bankruptcy shows, moving to decentralized ways to hold crypto is not only sensible, it’s what Satoshi envisioned all along, writes Ruben Merre, CEO and cofounder of NGRAVE.
Silvergate issues warnings about the crypto winter. Meanwhile, Zipmex considers a buyout by FTX and Alameda Research.
The U.S. Securities and Exchange Commission (SEC) alleged in a civil suit filed last week that nine of the 25 crypto assets traded in the first-ever cryptocurrency insider trading case were securities and that leaking confidential information, therefore, amounted to securities fraud. See related article: Former Coinbase manager arrested on insider trading charges Fast facts […]
Sumitomo Mitsui Financial Group (SMBC Group), which runs one of Japan’s largest banks, said Friday it will work together with blockchain startup HashPort to develop non-fungible token (NFT) and Web3 projects. See related article: PSG sells US$220,000 NFT tickets for first Japan tour in 27 years Fast facts SMBC and HashPort plan to set up […]
The total value locked (TVL) in decentralized finance (DeFi) plunged 66.9% in the second quarter of this year amid market turmoil, according to data from DefiLlama. See related article: Sinking TRON takes DeFi TVL to US$63B, lowest since April 2021 Fast facts The DeFi space recorded US$220 billion in TVL at the beginning of the […]
Dunamu, the operator of South Korea’s Upbit crypto exchange, told local media that Levvels, its Los Angeles-based joint venture established in May this year with HYBE Co., will start services in the latter half of this year. See related article: NFT credit card in the works for top S. Korean crypto exchange Fast facts Dunamu […]
Singapore-based crypto exchange Zipmex said on Sunday it’s in serious discussions with potential investors looking to buy the firm, days after halting all customer withdrawals citing market volatility and financial difficulty at some partners. See related article: Crypto exchange Zipmex freezes withdrawals Fast facts One of the interested parties has offered to start financial due […]
Despite some recent progress, the Web 3.0 industry is still coming up short on women’s participation, says NEAR Foundation chief Marieke Flament
South Korean prosecutors’ search and seizure campaign on Terra-LUNA and affiliates includes raiding the private home of Terraform Labs cofounder Daniel Shin, or Shin Hyun-seung, among others on Wednesday, local media reported. See related article: S.Korea prosecutors raid crypto exchanges as part of Terra-LUNA investigation Fast facts Shin, who founded Terraform Labs with current chief […]
Three Arrows Capital (3AC) cofounders Su Zhu and Kyle Davies denied allegations by 3AC liquidators that they moved money out of the crypto hedge fund before its collapse. See related article: 3AC founders moved money out of troubled hedge fund, allege liquidators Fast facts Zhu and Davies claimed that they were forced into hiding due […]
New Bangko Sentral ng Pilipinas Governor Felipe Medalla is no fan of crypto, but in an exclusive interview with Forkast, he said there’s no plan to outlaw the digital asset.
Tencent will lay off an undisclosed number of staff on its mainland China non-fungible token (NFT) marketplace team and adjust the platform’s business strategy, as it prepares another NFT marketplace serving overseas users, sources close to Tencent said, Chinese financial media Caixin reported on Thursday. See related article: Tencent to shut Huanhe NFT marketplace: report […]
The Securities and Exchange Commission of Thailand (Thai SEC), has sought clarification from cryptocurrency exchange Zipmex on its decision to freeze withdrawals, according to a statement on its website. See related article: Celsius bankruptcy deepens chill over crypto sector Fast facts The regulatory authority for Thailand’s capital markets, in a letter dated July 20 issued […]
The U.S. Department of Justice (DOJ) arrested former Coinbase product manager Ishan Wahi and his brother, Nikhil Wahi, on allegations of wire fraud in a first-ever cryptocurrency insider trading scheme, the agency said in a statement on Thursday. See related article: Former OpenSea employee arrested amid insider trading allegations Fast facts The Wahi brothers are […]
Taiwan’s financial regulator is asking banks and credit card companies not to allow credit cards as a means of payment for virtual assets services, local media reported Thursday. See related article: Taiwan has a chance to develop crypto amid China’s clampdown, Filecoin Foundation director says Fast facts Taiwan’s Financial Supervisory Commission Friday told Forkast that […]
Bitcoin mining difficulty dropped by 5.01% on Friday, marking the third decline in a row and the largest fall since July 2021, according to data from BTC.com. See related article: Celsius Network could add to crypto mining struggles Fast facts The mining difficulty reading is now at 27.69 trillion at a block height of 745,920, […]
Singapore-based crypto exchange Zipmex said on Thursday night Hong Kong time (HKT) it will prolong its customer withdrawal freeze until Friday “to prevent any technical issues,” without specifying a time. See related article: Singapore’s MAS to further strengthen crypto regulations Fast facts See related article: Singapore crypto lender reportedly owes retail investors US$363 million
Developers behind Minecraft, one of the biggest video games in the world, said they are not looking to support integration with non-fungible tokens (NFTs) or blockchain technology, arguing they “encourage profiteering.” See related article: Polium’s NFT/Web3 game console plan meets with plenty of skepticism Fast facts In a recent blog post, developer Mojang Studios said […]
Tencent this week will shut down Huanhe, the Chinese tech giant’s non-fungible token (NFT) marketplace that has been operating for less than a year, according to unnamed Tencent sources cited in a report by Shanghai-based technology news outlet Jiemian on Wednesday. See related article: WeChat bans NFT accounts, citing ‘crypto speculation’ Fast facts Tencent has […]
Former Celsius employees allege the firm failed to ensure proper risk management and traded customer funds without proper approvals.
The partnership will celebrate the progress, impact and innovation of exceptional women leaders across the globe.
Residential rehabilitation centers around the world are starting to see a new kind of patient with an old problem: gambling addiction focused on crypto trading.
The Indian government won’t reduce taxes on cryptocurrency transactions, a minister said, despite repeated pleas by the industry. See related article: India’s latest tax assault on crypto exchanges starts Friday Fast facts In a written reply to a query in India’s upper house of Parliament, Minister of State for finance Pankaj Chaudhary clarified that the […]
The Financial Services and Markets Bill introduced in the U.K. parliament on Wednesday seeks to regulate stablecoins as a means of payment. See related article: Financial Stability Board calls for high regulatory standards for stablecoins Fast facts The legislation was largely awaited as it aimed at strengthening the U.K. financial system post-Brexit. In April, then-Chancellor […]
Singapore-based cryptocurrency exchange Zipmex became the latest firm to block customers from withdrawing their tokens, citing volatile market conditions and financial difficulties of its partners, reportedly Babel Finance. See related article: Celsius says users can settle for cash at a discount or go long on crypto Fast facts “Due to a combination of circumstances beyond […]
The metaverse of the future will transform how we work and our sense of self — and what we see now is only scratching the surface, writes Eaven Portillo.
Court filings in Singapore by the lawyers appointed by Three Arrow Capital’s creditors allege money was being moved out of the troubled crypto hedge fund into a company controlled by its founders.
Top blockchain and crypto news: Celsius plunges into Chapter 11. Otherside’s promised land. Mixed picture for Chinese NFTs.
A report says Bitcoin users are looking beyond investment. Meanwhile, court document reveals strong ties between 3AC and TPS Capital.
The price is bouncing back for the world’s favorite cryptocurrency and one Bitcoin expert tells Forkast now’s a good time to shift focus from price volatility to use cases.
Hoping to strike crypto riches, Joel Stein follows the footsteps of a master degen investor. Here are the secrets revealed to him.
Prioritizing customers getting back their deposits means it is OK to do a “moderately bad” deal when rescuing troubled cryptocurrency companies, FTX founder and CEO Sam Bankman-Fried said on Tuesday. See related article: What Sam Bankman-Fried thinks will happen with NFTs and crypto exchanges in 2022 Fast facts Speaking at the Bloomberg Crypto Summit, Bankman-Fried, […]
China’s second-most populous city will introduce a three-year plan to promote the metaverse in the tourism industry, and encourage non-fungible tokens (NFTs) in the art and culture industry, as part of a recovery plan for the city’s economy. See related article: ‘Metaverse’ enters government radar at China’s Two Sessions Fast facts See related article: NFTs, […]
Dubai aims to be one of the top 10 cities globally in the metaverse economy, creating 40,000 virtual jobs and adding US$4 billion to the city’s economy in five years. See related article: Dubai could be crypto’s promised land, Citi says Fast facts The launch of the Dubai Metaverse Strategy on Monday was aimed at […]
The U.S. Senate is unlikely to vote on the bipartisan cryptocurrency bill this year, Republican Senator Cynthia Lummis said Tuesday at the Bloomberg Crypto Summit. See related article: US crypto bill leaves ‘open question’ on securities: Tessler Fast facts “It’s a big topic, it’s comprehensive, and it’s still new to many U.S. senators,” Lummis said […]
Celsius says users can settle for cash or go long on crypto. Meanwhile in the markets, Bitcoin breaks US$22,000.
The Monetary Authority of Singapore (MAS) said it will seek consultation in the next months on proposed measures toward regulating the crypto industry. See related article: Singapore’s central bank says cryptocurrencies have ‘no fundamental value’ Fast facts Singapore’s regulatory focus on crypto has been mainly toward containing money laundering and terrorist financing risks, MAS Managing […]
In a presentation on Monday, embattled crypto lender Celsius Network presented a plan of action as it enters Chapter 11 proceedings to restructure and stabilize its business in an effort to placate stakeholders. See related article: Celsius says it owes its users US$4.72B amid a US$1.19B balance sheet deficit Fast facts The firm expects to […]
As a world leader, the US now offers a regulatory template for crypto that others are sure to follow, writes Michael Shing of XREX. Here are the key provisions.
Cryptocurrency exchange Binance has been fined in the Netherlands for operating without proper registration, the Dutch central bank said on Monday. See related article: Binance gets nod from Spain to offer crypto exchange, custody services Fast facts De Nederlandsche Bank (DNB), which oversees crypto service provider registrations, said it imposed a 3.3 million euro (US$3.4 […]
Digital assets are powering new industries, and DeFi will be the financial system of the future internet economy, writes Alex Tapscott in his new book, ‘Digital Asset Revolution.’
The country’s major game developers continue to focus on overseas markets as there are no signs of a thaw in the government’s stance on games that include elements of blockchain and play-to-earn.
Following a record first half last year, investments in startups focusing on the cryptocurrency industry are down amid the so-called crypto winter, data showed. See related article: Polkadot is top crypto held by VCs and hedge funds in Q4 2021 Fast facts Venture capital funding in crypto startups fell nearly 26% to US$9.3 billion across […]
Launched in January, Tencent News’ NFT marketplace was shut down, citing the need to “adjust” and “transform” the business. See related article: China’s diktat against NFT flipping spawns an ingenious industry Fast facts Wang Shimu, former head of Tencent News, left the news division in May and was reassigned to Tencent’s NFT arm Huanhe due […]
Hyundai Motor unveiled a non-fungible token (NFT) membership program for its new electric vehicle (EV) IONIQ 6, which unlocks exclusive access to Web3 content to holders, according to a press release. See related article: Hyundai Motor drives into metaverse branding with Meta Kongz NFT project Fast facts The IONIQ Citizenship includes access to VIP rights […]
A number of U.S. lawmakers urged the country’s energy and environmental protection authorities to mandate that cryptocurrency miners disclose data on energy use, as seven of the largest mining companies were found to use as much power as all of the homes in Houston. See related article: Bitcoin lobbyists rebut ‘misconceptions’ over environmental impact Fast […]
As the NFT market slumps, some savvy former American footballers and their business partners have been spurred to push the technology’s potential.
A focus on economic sustainability, or play-and-earn, is driving the P2E industry to rein in incentives and instead attract and engage gamers in the hope that they will end up spending on in-game assets.
Circle Internet Financial, the issuer of USDC, on Thursday released a detailed but unaudited breakdown of the reserves backing the second-largest stablecoin by market capitalization. See related article: Questions over Circle’s USDC reserves linger despite assurances Fast facts The breakdown showed that Circle had US$42.12 billion in U.S. Treasurys and US$13.58 billion in cash as […]
Ethereum’s ninth shadow fork went live overnight Wednesday in Asia, marking one of the final steps before the merge with the proof-of-stake (PoS) Beacon Chain as part of the network’s transition to Ethereum 2.0. See related article: Vitalik Buterin defends Ethereum ahead of merge; ‘not a security’ Fast facts A shadow fork is a test […]
The embattled U.S. crypto lender wants to continue certain operations during the restructuring process but customers will have to wait for the Chapter 11 proceedings to address their claims.
Fresh claims that emerged over the weekend about the status of Circle’s USDC reserves cast doubts on the ability of the so-called stablecoin to maintain its peg. In a deep dive, Forkast examined the allegations and reached out to the company for its version of events.
HGC Info Tech (HGC) announced Tuesday that it will start offering its securities tokens at U.S. digital asset exchange INX, as Chinese firms face delisting risks in the states due to regulatory differences. See related article: SEC places Chinese crypto mining rig maker Canaan on pre-delisting list Fast facts Xiamen-based HGC provides order matching and […]
Bitcoin’s hashrate dropped by more than 27% in 24 hours to 159.41 exahashes per second (EH/s) on Wednesday, the lowest since February this year, according to data from BTC.com. See related article: Bitcoin miners in Texas halt operations amid heat wave Fast facts Multiple crypto miners in Texas, a mining hub in the U.S., have […]
Did you know that artists received about 12% of the music industry’s 2017 revenue? The other 88% was swallowed by record labels, managers, and numerous other business intermediaries. Can blockchain decentralize the music industry and drive more artist empowerment? Find out in this Forkast video explainer. What you’ll learn: How non-fungible tokens (NFTs) can be […]