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ETHPoW token price drops to all-time-low on Thursday

ETHPoW, the token that will run on a potential Ethereum PoW fork, fell to an all-time low of US$50.36 on Thursday, down 64% from its Aug. 2 peak, according to CoinMarketCap.  See related article: Chandler Guo tells why he is the man who would hard fork Ethereum Fast facts The ETHPoW token is currently only […]

Bitcoin, Ether fall in broad crypto pull back; memecoins reverse gains

Bitcoin and Ether continued their weekly slide, while all other top 10 cryptocurrencies by market capitalization fell in Friday morning trading in Asia. The world’s number one cryptocurrency fell below US$23,000 for the first time in over a week. Investors remain tentative about macroeconomic trends – inflation and interest rates in the U.S. and a […]

EU seeks to limit banks’ crypto exposure

European Union (EU) banks with exposure to highly volatile cryptocurrencies like Bitcoin should face higher capital requirements, according to a proposed amendment to a European financial services law.  See related article: Bitcoin miner Stronghold to return mining rigs to cut debt; shares plunge as losses widen Fast facts Crypto assets like Bitcoin, which are considered […]

Confusion from US regulators; Markets hit by ‘vibe-flation’

The FDIC tries to deter banks from doing business with crypto firms. Meanwhile. Genesis CEO steps down amidst reshuffle.

Coinbase would shut down ETH staking under regulatory threat, says CEO

Responding to a hypothetical scenario on Twitter, Coinbase CEO Brian Armstrong said that the company would shut down its Ethereum staking services to preserve the blockchain network’s integrity, in the event of a regulatory crackdown. See related article: BlackRock, Coinbase partner to extend crypto trading to institutional investors Fast facts The hypothetical question was posted […]

Markets: Bitcoin, Ether fall; Solana, DOGE extend their declines

Bitcoin and Ether traded lower in Thursday afternoon trading in Asia. Solana saw the largest fall among the top 10 tokens by market capitalization, followed by Dogecoin. Asia equity markets were softer after minutes from the U.S. Federal Open Market Committee showed Fed Reserve officials saw little sign of inflation slowing. See related article: Markets: […]

Chandler Guo tells why he is the man who would hard fork Ethereum

In a Q&A, the former cryptocurrency miner explains his methods for trying to pull together a band of Ethereum mining brethren in order to keep their rigs running. The idea started at a party at his house.
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BAYC NFT sells for 777 Eth, worth US$1.4 million, amid crypto downturn

Non-fungible token (NFT) Bored Ape Yacht Club (BAYC) #5383 sold for 777 Eth on Wednesday, worth some US$1.4 million, amid a crypto downturn. See related article: Bored Apes — NFTs take over the planet | NFT Moments in History Ep. 11 Fast facts Following the sale, the floor price for BAYC on Thursday sank its […]

Despite crypto downturn, illicit activity outpaces legitimate uses

Criminal activity in cryptocurrency was more resilient than legitimate uses despite the downturn in the crypto market in 2022, according to a new report by blockchain data aggregation firm Chainalysis. See related article: Chainalysis says $2 bln stolen in cross-chain bridge hacks this year, more expected Fast facts Illicit transaction volumes are down just 15% […]

Markets: Bitcoin, Ether decline; memecoins fall back, XRP holds gains

Bitcoin and Ether fell in Thursday morning trading in Asia, along with all other cryptocurrencies on the top 10 list by capitalization, with the exception of XRP.  U.S. equities were weaker overnight as Federal Open Market Committee minutes released on Wednesday indicated interest rates in the U.S. will continue rising until inflation is brought under […]

Eqonex closes crypto exchange as market woes prompt cost-cutting

Top blockchain and crypto news: Eqonex shutters exchange operation. Huobi denies sale report. Taiwan beefs up cyber defenses.

Fed’s crypto bank guidelines; Coinhako planning expansion

The Federal Reserve issues new crypto banking guidelines. Meanwhile, Singaporean crypto exchange Coinhako plans an expansion.

Markets: Bitcoin, Ether little changed; DOGE, XRP climb in Asia afternoon trade

Bitcoin and Ether traded little-changed in Wednesday afternoon trading in Asia. Dogecoin (DOGE) and XRP both gained and were the biggest movers among the top 10 coins by market capitalization. See related article: Markets: Bitcoin, Ether fall; Dogecoin outperforms, Cardano edges higher Fast facts Bitcoin was trading at US$23,829, off 0.77% in the past 24 […]

Coinhako crypto exchange sees Asia expansion opportunity as rivals stumble

Cross currents: BlackRock Inc, the world’s biggest money manager, is talking about Bitcoin opportunities amid a market slump. Singapore’s Coinhako looks to have similar ideas.

Top firms invest US$6B in blockchain startups: Blockdata research

Forty top corporations invested about US$6 billion into blockchain startups between September 2021 and June 2022, according to an analysis by blockchain data platform Blockdata. As some investments involved participation from multiple investors, Blockdata said it was not clear how much each company invested in one particular project. See related article: Korea Blockchain Week points […]

Jump Crypto to revamp core part of Solana’s infrastructure

Jump Crypto, the crypto arm of high-frequency trading firm Jump Trading Group, announced on Tuesday plans to develop a new open source validator client for the Solana network to boost throughput and reliability. See related article: Solana validators complete restart; Laos ends crypto ban Fast facts Jump Crypto will “propose a major upgrade to Solana’s […]

Huobi to end crypto derivatives trading in New Zealand

Seychelles-based cryptocurrency exchange Huobi Global will cease crypto derivatives trading services in New Zealand from Tuesday next week — only months after launching in the country – according to a company blog post. See related article: Huobi closes Thai crypto unit, regulator revokes license Fast facts From Aug. 23, Huobi will classify New Zealand as […]

Tencent’s Huanhe allows NFT refunds, halts further sales

Tencent’s non-fungible token (NFT) marketplace Huanhe says it will allow buyers to refund purchased NFTs but will no longer issue the digital assets, citing a “focus on the company’s core strategic considerations.” See related article: Chinese e-commerce giant JD.com offers NFTs despite state media criticisms Fast facts The marketplace’s app will remain, but it will […]

Fed issues guidelines for crypto banks to enter central banking system

The U.S  Federal Reserve published what it called “final guidelines” for how crypto banks could be granted “master accounts” that are needed to transact directly with the Fed and the broader global banking system.  See related article: Federal Reserve to taper bond purchases, prompting concerns over BTC impact  Fast facts The Fed referred to these […]

Markets: Bitcoin, Ether fall; Dogecoin outperforms, Cardano edges higher

Bitcoin and Ether fell amid a mixed performance from the rest of the tokens in the top 10 by market capitalization on Wednesday morning in Asia. Leading memecoin Dogecoin outpaced the rest on the list, continuing its recent price run-up that took it back into the top 10. See related article: Markets: Bitcoin, Ether fall […]

Crypto exchanges’ race to the bottom on fees scalps Eqonex

Nasdaq-listed Eqonex’s decision to shutter its low-fee crypto exchange business to focus on asset management and custodial services may prompt similar moves in the highly commoditized industry.

Eqonex closing exchange; Guo’s fork plans

Welcome to The Daily Forkast – August 16, 2022 – presented by Joel Flynn. Coming up on today’s show: Eqonex to focus on asset management and custody. Chandler Guo – a man on a mission.  Total value locked taking a knock. We’ll have more on those stories — and other news shaping the cryptocurrency and […]

Celsius has US$2.8B in crypto liabilities: court filings

Recent court filings from law firm Kirkland & Ellis show that crypto lending platform Celsius has US$2.8 billion in crypto liabilities. The documents suggest that the crypto lender might run out of operational cash by October. See related article: Celsius on thin ice well before its bankruptcy: CNBC report Fast facts Celsius filed for Chapter […]

Crypto lender Hodlnaut seeks judicial management for protection against creditors

Singapore-based cryptocurrency lender Hodlnaut has filed an application with the Singapore High Court to be placed under judicial management, which could provide the company “the breathing space to focus our efforts on the recovery plan to rehabilitate the company,” Hodlnaut said on Tuesday. See related article: Crypto lender Hodlnaut halts withdrawals, ends token swap feature […]

Markets: Bitcoin, Ether fall in Asia trade amid growing concern about China’s economy

Bitcoin and Ether fell along with most other cryptocurrencies on the top 10 list by market capitalization as concerns spread across capital markets about the housing slump in China, where real estate prices have fallen for 11 months and threaten to undermine the world’s second largest economy. See related article: Markets: Bitcoin, Ether fall; memecoins […]

Shareholders ask Zipmex CEO to step down amid restructuring

The chief executive officer of troubled crypto exchange Zipmex is being asked to resign by shareholders and potential investors, citing Marcus Lim’s management decisions that led to a severe cash crunch, while the company was granted a three-month moratorium to try to restructure. See related article: Why Singapore may be the ideal place for companies […]

Binance receives in-principal approval to operate in Kazakhstan

The world’s largest cryptocurrency exchange, Binance, has received in-principal approval to operate a digital asset trading facility and provide custody services in Kazakhstan from the Astana Financial Services Authority (AFSA), the company announced on Monday. See related article: Crypto mining’s Great Migration continues — out of Kazakhstan Fast facts Binance is still required to complete […]

Establishing standards will be key to the metaverse’s future success

Virtual worlds currently exist in silos, and there is no easy way to communicate between ecosystems — which limits their value, writes Witek Radomski of Enjin.

Markets: Bitcoin, Ether fall; memecoins lose steam, BNB edges higher

Bitcoin and Ether fell along with most other tokens in the top 10 by market capitalization on Tuesday morning in Asia. Memecoins also lost ground after a recent run-up. See related article: Markets: Bitcoin, Ether, DOGE fall amid slowing activity in China, SHIB edges up Fast facts Bitcoin traded at US$24,136 at 8 a.m. in […]

Bitcoin should be higher?; Memecoins on a tear

Bitcoin and Ethereum

Markets: Bitcoin, Ether, DOGE fall amid slowing activity in China, SHIB edges up

Bitcoin and Ethereum fell in late evening trade in Hong Kong as appetite for risk assets tapered in the wake of data showing that China’s economic activity slowed across the board in July. Dogecoin (DOGE) reversed gains from the morning, while Shiba Inu token (SHIB) edged up. See related article: Markets: Bitcoin little changed, Ether […]

Why crypto firms should embrace regulations and compliance 

Regulatory compliance will be critical to improving crypto’s ‘Wild West’ image and public acceptance, writes Karen Er and Benjamin Bai of Amber Group. Here’s why.
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ETH futures contracts open interest on Binance breaks 8-month high: Glassnode

Ethereum futures contracts open interest reached an eight-month high of over US$3.1 billion on Binance on Sunday, Glassnode said on Twitter. See related article: Markets: Bitcoin little changed, Ether dips below $2,000, Memecoins surge Fast facts See related article: Privacy protocol Monero completes upgrade to make transactions more private

Reality intrudes: How TradFi banks can help build the metaverse economy

The crypto winter may have chilled many in Web3, but metaverses are an increasingly hot prospect in traditional finance, says DBS Bank’s legal chief

Crypto’s Institutional Boost

Crypto’s institutional boost is on the rise, meanwhile, Australia is proving to attract the crypto sector.

Huobi looks to sell stake that values exchange at US$3 bln, Bloomberg reports

Leon Li, the founder of China cryptocurrency exchange Huobi, is seeking to sell a 60% stake in the company that would value the business at US$3 billion, according to a Bloomberg News report that cited people familiar with the matter. See related article: Sam Bankman-Fried’s Voyager debt emerges; Celsius reshuffles board Fast facts See related […]

Markets: Bitcoin dips, Ether little changed; Huobi Token surges amid stake sale speculation

Bitcoin fell while Ethereum traded little changed on Friday afternoon in Asia. Huobi Token, the native coin of China crypto exchange Huobi, jumped 18.9% in the last 24 hours after Bloomberg reported its founder was seeking to sell a majority stake in the business. See related article: Markets: Bitcoin, Ether retreat as investors digest inflation, […]

BlackRock backflips on Bitcoin as latest institution to see promise in crypto

Something of a sea change? Financial institutions that once turned up their noses at cryptocurrencies are now figuring out ways to get access for their clients.

Philippine central bank halts crypto service provider applications for 3 years

The Bangko Sentral ng Pilipinas (BSP) slaps a moratorium on new virtual asset service provider (VASP) license applications starting Sept. 1.

Korea Blockchain Week points to games leading the way into a Web3 savvy world

Follow the money? Korea Blockchain Week concludes this weekend in Seoul and one of the overarching themes is enthusiasm for blockchain-based gaming as the key to opening up a Web3 world to a broader audience.

Bitcoin miner Hut 8 shares gain on revenue, outlook – despite Q2 profit slump

Crypto mining slump? Canada-based company booked 31% revenue growth on year, expanded Bitcoin holdings, and plans to ramp up mining capacity this year. Other crypto miners seem to be following suit.

No ‘conclusive evidence’ that US$6 mln Solana hack caused by loophole: Slope

Solana-based wallet Slope said on Thursday there is no “conclusive evidence” to connect its mobile wallet’s loophole with Solana’s recent breach, although 1,400 wallets connected to the loophole were drained. See related article: Seed-phrase leak from crypto wallet Slope prompts Solana hack Fast facts See related article: Solana blames Slope for exploit

Markets: Bitcoin, Ether retreat as investors digest inflation, Blackrock developments

Bitcoin fell back in Asia trading after setting a two-month high of US$24,822 overnight following news BlackRock Inc., the world’s largest asset manager, had launched its own Bitcoin fund. Ethereum followed a similar track, but held some of its gains after hitting a six-week high of US$1,927. Both crypto and equity markets had risen earlier […]

Simping in Web3 to follow the DAO of Irene

Can blockchain technology help starstruck little guys profit from being superfans of popular e-girls? Joel Stein joins Irene Zhao’s IreneDAO to find out.

Diving into Web3 at Korea Blockchain Week

Today’s special episode of The Daily Forkast, we take a deeper on location in Seoul, at the sold-out Korea Blockchain Week.

Limit crypto expansion in developing countries, urges U.N. agency

The United Nations Conference on Trade and Development (UNCTAD) has urged limits on cryptocurrencies across developing nations, in a series of policy briefs released on Wednesday. See related article: IMF says crypto crash hasn’t quite harmed broader financial system Fast facts The UNCTAD, part of the UN Secretariat, said cryptocurrencies could curb the effectiveness of […]

Klaytn chief says reducing ‘human elements’ can prevent hacks

After high-profile cyberattacks on decentralized apps, the blockchain industry is in a hurry to ramp up security. Sam Sangmin Seo, head of Klaytn, tells Forkast that minimizing human error may be the key.

Despite the bear market, enterprise blockchain has nothing to fear

Crypto’s volatility may be top of mind right now, but blockchain’s practical uses will be the industry’s future, writes Johannes Schweifer of CoreLedger.

Coinbase under investigation by SEC, quarterly report reveals

Nasdaq-listed Coinbase Global is under investigation by the U.S. Securities and Exchange Commission (SEC) for its token listing processes and its staking programs and yield-generating products, according to the company’s most recent quarterly report. See related article: Former Coinbase manager arrested on insider trading charges Fast facts “[Coinbase] has received investigative subpoenas and requests from […]

Markets: Bitcoin, Ether rise with equities as US inflation shows signs of slowing

Bitcoin, Ethereum and all other top 10 cryptocurrencies rose in tandem with U.S. equities markets overnight as consumer data showed U.S. inflation slowed in July. Polkadot surged after announcing a tie-up in decentralized finance services. See related article: Markets: Bitcoin, Ether fall in general sell off; Solana takes hit, BNB stumbles Fast facts Bitcoin changed […]

HKMA announces competition to promote CBDCs

Hong Kong’s de-facto central bank, the Hong Kong Monetary Authority (HKMA), has added a central bank digital currency (CBDC) section to an annual business competition in the city in order to encourage research into the use cases of digital currencies. See related article: Hong Kong to launch US$637 mln tech fund for startups: report Fast […]

Binance-WazirX spat heats up as investors yank funds from Indian exchange

Top blockchain and crypto news: Binance spurns WazirX amid India probe. BlackRock bets on Coinbase. Crypto influencers in China’s crosshairs.

WazirX issues warning; Stablecoin giants back Merge

WazirX users head for exits amid a dispute between Binance. Meanwhile, Circle and Tether announce support for the new ETH P-O-S.

India crypto traders try to dodge fallout from WazirX woes, spat with Binance

What’s a crypto trader to do when the government freezes exchange assets, sparking a war of words between supposedly ‘merged’ exchanges?

India’s CoinSwitch to fund Web 3.0 startups

Indian crypto exchange CoinSwitch has introduced a Web3 Discovery Fund with initial capital of US$10 million to back early stage startups. See related article:  CoinSwitch Kuber launches rupee index for Indian crypto market Fast facts The Web3 Discovery Fund will curate portfolio startups and provide single-window access to marquee investor partners, such as Tiger Global, […]

India’s WazirX says it has no-tolerance policy on illegal activities

Zanmai Labs Private Limited, the firm operating Indian cryptocurrency exchange WazirX, said Tuesday it has a no-tolerance policy towards any “illegal activities”. Users agree to use the exchange in accordance with applicable laws, the company said in a statement. See related article: Tax authorities recover US$9M from India’s biggest crypto exchanges Fast facts WazirX, one […]

Vitalik Buterin says he used Tornado Cash to donate to Ukraine

Amid debate over the U.S. Treasury Department’s banning of the crypto mixer, the Ethereum cofounder said he used the service to protect recipients.

Iran pays US$10 mln import order with crypto for 1st time: report

Iran has made the country’s first cryptocurrency payment with a US$10 million import order this week, which could be an option for the country to bypass broad trade embargoes, according to a media report. See related article: Crypto exchange Kraken reportedly under investigation for Iran sanctions breach Fast facts See related article: Is cryptocurrency a […]

USDC, Tether announce support for Ethereum proof-of-stake

Two of the largest stablecoin issuers — Tether and USDC — announced Tuesday that they will support Ethereum’s proof-of-stake (PoS) chain, as Ethereum’s “Merge” looms and crypto miners are banding together against the abandonment of mining.  See related article: Prominent Chinese ETH miner plans proof-of-work fork amid The Merge Fast facts See related article: Ethereum […]

Naver’s Zepeto metaverse starts blockchain initiative with Solana

South Korean metaverse platform Zepeto has teamed with Solana and Web 3.0 developer Jump Crypto to construct ZepetoX, a cryptocurrency-based metaverse project, according to a press release. See related article: HYBE, Softbank invest big in Zepeto metaverse creator Naver Z Fast facts ZepetoX aims to establish a 3D open-world platform where creators and users can […]

Markets: Bitcoin falls as crypto market loses steam, equities dip ahead of inflation data

Bitcoin and Ethereum fell as most of the top 10 cryptocurrencies gave up ground made earlier in the week. BNB was the exception, posting a slight gain to round out a 15% price increase in the past seven days. See related article: Markets: Bitcoin loses steam, Ether continues run higher in late Asia trading Fast […]

Thailand’s central bank to get more power in crypto regulation overhaul: report

Thailand’s central bank will receive more power as the South-East Asian nation steps up regulation of digital assets, said Thai Finance Minister Arkhom Termpittayapaisith. See related article: Thailand bans Bitcoin and crypto payments Fast facts Thailand plans to tighten its supervision of platforms and exchanges that offer trading in cryptocurrencies and other digital assets, Bloomberg […]

Digital dollar push; Tornado Cash blacklisted

Welcome to The Daily Forkast – August 9, 2022 – presented by Angie Lau. Coming up on today’s show: US lawmakers aim to push Fed on digital dollar. Circle freezes smart contract addresses linked to blacklisted Tornado Cash. Also, Hodlnaut freezes withdrawals, swaps and deposits. Zipmex to release specific amounts of Bitcoin and Ether. And […]

India’s WazirX to delist EasyFi

Indian cryptocurrency exchange WazirX will delist and cease trading on all trading pairs for EasyFi (EZ) on Aug. 11. It will continue to support withdrawals of these tokens from WazirX until Nov. 12.  See related article: Binance to stop off-chain transfers with India’s WazirX Fast facts WazirX periodically reviews each digital asset it lists and […]

Issue tokens later for growth, not for initial fundraising, advises Binance chief Changpeng Zhao

Web3 companies should issue tokens to accelerate growth, not to gather initial funds, said Binance founder and chief executive officer (CEO) Changpeng “CZ” Zhao at a fireside chat at Korea Blockchain Week 2022 on Tuesday.  See related article: Binance spent over US$1B on compliance, founder Changpeng Zhao says Fast facts “When people come into Web3 […]

Binance to stop off-chain transfers with India’s WazirX

Leading cryptocurrency exchange Binance will remove the off-chain fund transfer channel between India’s WazirX and itself beginning Aug. 11, following recent regulatory action taken against Zanmai Labs Private Limited, the entity operating WazirX. See related article:  Only the big fish will survive as India cracks the whip on crypto: Binance-backed WazirX Fast facts Users will […]

Chainalysis says $2 bln stolen in cross-chain bridge hacks this year, more expected

Blockchain analytics firm Chainalysis says cross-chain bridges that allow transfer of assets between independent blockchains are among the highest risk protocols in the blockchain industry for scams and bad actors. Chainalysis in a new report estimates that US$2 billion worth of cryptocurrency has been stolen from cross-chain bridges across 13 attacks so far this year, […]

Crypto.com enters South Korea market with two local startup acquisitions

Cryptocurrency platform Crypto.com has forayed into South Korea with two acquisitions — payment service provider PnLink Co. and virtual asset service provider OK-BIT Co., the company said.  See related article: Crypto.com, K-pop agency Fantagio enter joint NFT venture Fast facts The Singapore-based company also said it secured registration under South Korea’s electronic financial transaction act […]

Netflix K-drama hit Extraordinary Attorney Woo to launch NFT project with Polygon

The production company behind Extraordinary Attorney Woo, an ongoing South Korean drama series and one of the most-watched non-English shows on Netflix, has teamed up with Polygon to build a non-fungible token (NFT) community to advocate for awareness of autism spectrum disorder (ASD). See related article: Netflix Sweet Home producer to build K-drama metaverse in […]

NFT gaming to drive wider blockchain adoption, Immutable cofounder says

Blockchain gaming will likely remain a key driving force for wider Web 3.0 adoption, and the gaming sector will be “quite hit-driven” over the next 12 months, Robbie Ferguson, cofounder of Immutable — which builds Immutable X, a layer-2 scaling solution on Ethereum — told Forkast on Tuesday at Korea Blockchain Week 2022. See related […]
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Crypto lender Hodlnaut halts withdrawals, ends token swap feature

Singapore-based crypto lender Hodlnaut freezed withdrawals as well as ended its token swapping feature on Monday, just as the market is showing signs of recovery from the so-called crypto winter. See related article: Zipmex resumes withdrawals of certain tokens in phased manner Fast facts Hodlnaut said the withdrawal freeze is to “focus on stabilizing our […]

Mythical Games CEO says ‘play-and-own’ is the way to go for P2E games

Mythical Games, a California-based studio that developed non-fungible token (NFT) game Blankos Block Party, focuses more on in-game assets than the earning aspects of its games, Chief Executive Officer John Linden told Forkast on Tuesday at Korea Blockchain Week 2022. See related article: Play-to-earn game developers pivot to engaging fans Fast facts “We are going […]
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