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Ethereum hits new all-time high; S Korea says NFTs not virtual assets

Ethereum hits new all-time high meanwhile South Korea says NFTs not virtual assets

Huobi migrates spot trading services to regulated entity in Gibraltar

Cryptocurrency exchange Huobi Global, which obtained a distributed ledger technology license from the Gibraltar Financial Services Commission in 2018, will be migrating its spot trading services to the regulated entity in Gibraltar (“Huobi Gibraltar”), the company announced today. Fast facts Huobi has received approval from the Gibraltar Financial Services Commission to migrate its cryptocurrency spot […]

New Hong Kong youth association hopes to nurture ‘patriotic fintech talents’

The city’s disaffected post-protest youth and recent statistics suggest a brain drain in the city’s future.

Beijing budgets $37M for government affairs blockchain platform

China’s capital city, Beijing, is  inviting public tenders on a project to build a blockchain platform and computing center for government affairs with a total bidding price of 242 million yuan (approximately US$37.8 million). Fast facts The bidding project, “Beijing Municipal Experimental Blockchain Platform,” is for storing residents’ and city facility’s information and dealing with […]

What are the digital assets powering the DeFi revolution?

Digital assets are disrupting financial services in ways not seen since the Middle Ages, writes Alex Tapscott of Ninepoint Partners. Here is the taxonomy for the future of finance.

Chinese edtech company pivots to crypto mining amid China’s clampdown on tutoring

As China continues to crack down on the private tutoring sector, one education-tech company has decided to pivot into blockchain and cryptocurrency mining. Fast facts Nasdaq-listed Meten Holding Group, which officially changed its name from Meten EdtechX Education Group in August, has moved forward with plan for the new business venture in the crypto world, […]

South Korean regulator confirms that NFTs are not virtual assets

The country will follow global crypto guidelines in excluding non-fungible tokens (NFTs) from its categorization of virtual assets — meaning income from NFTs may remain untaxed in Korea.

Ethereum sets new all-time price high as crypto market cap nears $3 trillion

Ethereum reached a new all-time price high of US$4,766 earlier today, flying past its previous all-time high record of US$4,634 set five days ago, according to CoinGecko data. Fast facts The world’s second-largest cryptocurrency by market value has been on a record run since late last month. On Oct. 28, Ethereum’s price climbed to US$4,416 for the first time. The […]
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hashport launches to power cross-network digital asset transfers

hashport, a public utility that facilitates the movement of digital assets between distributed ledger technology networks without the need for a native network token, today announced that it will launch on Nov. 9, according to a media statement. At launch, hashport will connect the Hedera public distributed ledger to the Ethereum and Polygon networks. Fast […]

Disrupting the status quo: Why the world needs decentralization

The familiarity of centralized systems may feel comforting, but decentralized technologies like blockchain are the wave of the future, writes Corey Petty of Status.

Canaan sues over patent infringement; PayTM considers crypto services

Canaan sues over patent infringement also, PayTM considers crypto services

Chinese companies rush to register metaverse-related trademarks

Chinese companies are in a craze for trademark registrations related to the metaverse, and Baidu and NetEase are the latest tech giants to register such trademarks. Fast facts According to the QiChacha, a website where you can search for information about Chinese company information, shows that NetEase has applied for three trademarks with the metaverse: […]

What Solana prices will be at the end of 2021 and beyond

As Solana surges to new all-time highs, 50 fintech experts surveyed by Finder offer predictions on SOL’s price outlook for the end of the year and longer-term.

Goldman Sachs executive says tokenization redefines liquidity transaction

The traditional financial industry is getting its feet wet in tokenization of assets, and there’s an influx of interest in the private asset space, as Mathew McDermott, managing director of Goldman Sachs, said today at a Hong Kong Fintech Week panel moderated by Angie Lau, editor-in-chief and founder of Forkast.News. Fast facts McDermott said Goldman […]

Is 2021 the year of crypto’s coming of age?

Blockdata co-founder Jonathan Knegtel thinks so. Almost a teenager, Bitcoin is reaching a level of maturity that’s defying the predictions of its critics.

Asia-Middle East multiple CBDC bridge builds out business use cases for international payments

22 private sector finance heavyweights together with the BIS and central banks of China, Hong Kong, Thailand, and UAE aim to achieve a production-ready international trade settlement platform using CBDCs.

Crypto mining rig maker Canaan sues two Chinese tech companies over patent infringement

Canaan is seeking $14 million in alleged losses from Shenzhen HighSharp Electronic Technology and Sichuan Yinbimei Technology.

IPO-bound Paytm may launch crypto services if legalized in India

India digital payments giant Paytm will consider launching crypto-related services if it becomes a regulated asset class in the country, Paytm CFO Madhur Deora told Bloomberg TV on Thursday. Fast facts “Bitcoin is still in a regulatory gray area, if not a regulatory ban in India,” Deora said. “If it [Bitcoin and other cryptocurrencies] was […]

Fashion, art, games and community: What does a decentralized metaverse mean for you?

The idea of the metaverse has gone from the realm of science fiction to the latest business model of major companies from Facebook to Nike. What do metaverses powered by blockchain look like, and why is there so much interest in Decentraland?

Neobank Revolut looks to build its own crypto exchange

London-headquartered fintech startup Revolut is looking to build its own crypto exchange, according to a new job posting. Fast facts The selected candidate will lead neobank Revolut’s “technical team to architect and build Revolut Crypto exchange,” the job posting says. The candidate will need experience in building order matching engines, like those used on crypto […]

Miami and NYC leaders vie for crypto-mayor title

The bell has rung on the friendly, post-Election Day competition between leaders of two major American cities for who will be the crypto-friendliest mayor of all.

The Bitcoin-energy connection intensifies

Equities and Bitcoin have a clearly demonstrated bond, but now oil is strengthening its relationship to crypto, too

What is the Solana ecosystem and how is it fueling SOL’s stratospheric rise?

Solana prices keep cresting to new heights, making SOL a top-five cryptocurrency by size. What makes Solana and its ecosystem stand out? Forkast.News explains.

South Korea presidential candidate mulls a virtual assets government unit

Lee Jae-myung, the ruling Democratic Party’s candidate for the upcoming presidential election in South Korea, may include in his election pledges setting up a government sector dedicated to supervising the virtual asset industry. Fast facts It is reported that Lee is considering including a plan in his presidential campaign to set up a unit similar […]

How DeFi regulation can propel the next economic revolution

DeFi is here to stay, but regulations are still lacking. Jason Blick of EQIBank explores the challenges and how authorities can move forward.

e-CNY scam investigated; S Korea gets metaverse bug

e-CNY scam investigated meanwhile S Korea gets metaverse bug

K-pop sensation BTS gets ready to sell NFTs, as label looks to cash in on loyal A.R.M.Y fanbase

BTS’ label dreams bigger than just dominating the K-pop world — they want to digitize the IP even more.

South Korea’s Kakao, Com2uS, others race toward the metaverse

Information Technology (IT) firms in South Korea set up shop in the realm of the metaverse, with their first step being non-fungible token (NFT) platforms.

Chinese police raid what may be the nation’s first e-CNY money-laundering case

Police crack a tele-fraud case related to digital yuan money laundering, potentially thanks to the CBDC’s ‘managed anonymity’ feature.

Solana hits new ATH, briefly overtakes Tether as 4th-largest cryptocurrency

The price of Solana (SOL), the native cryptocurrency of the high-performance proof-of-stake Solana blockchain, hit a new all-time high US$245.69 this morning Asia time and briefly overtook Tether as the fourth-largest cryptocurrency by market value, according to CoinGecko data. Fast facts Solana’s price surge comes ahead of the inaugural Breakpoint conference organized by the Solana Foundation, which will […]

Federal Reserve to taper bond purchases, prompting concerns over BTC impact

As the U.S. economy shows signs of recovery from the pandemic-related recession, the Federal Reserve has announced it will begin tapering the US$120 billion a month it spends on bond purchases, hoping to address concerns of rising inflation. This has caused unease in the crypto industry as Bitcoin adoption over the past 18 months has […]

Eric Adams wants New York to have a cryptocurrency

NYC Mayor-elect Eric Adams said he wanted to ‘look at what’s preventing the growth of Bitcoins and cryptocurrency in our city.’

Why archiving the internet is vital and how a decentralized web can help | Ep. 6

Why archiving the internet is vital for the future, how a decentralized web can help, and why looking at history is a good way to predict the future

How subscription-based social media could lead to DLT’s mass adoption

Pay-for-play on Web 3.0 will instigate seismic shifts from centralized social media to community-driven platforms, writes Solo Ceesay of Calaxy. How would it work?

Hong Kong Fintech Week’s live comeback talks digital renminbi and DeFi

One of Asia’s largest fintech events returns for its sixth year with a hybrid format of live and virtual sessions. Regulators, corporations and experts share what’s important now in crypto.

ETH and SOL hit all-time highs; CBA to offer crypto services

ETH and SOL hit all-time highs as well as CBA offers crypto services

Huobi to give away ticket to space as part of 8th-year celebration

Blockchain technology company Huobi Group is celebrating its 8th-year anniversary with a slew of events and giveaways — including a space trip “to the outer perimeters of Earth” — and a focus on expanding its global footprint, according to a company announcement. Fast facts Founded in 2013 in China, Huobi has made global expansion a priority […]

China’s central bank governor calls for personal data protection at Hong Kong FinTech Week

Yi Gang reiterates the PBOC’s stance to protect data, while failing to address privacy concerns over digital yuan.

Microsoft, Nike embrace metaverse following Facebook’s name change

On the heels of Facebook, or now Meta, Microsoft and Nike are also racing into the metaverse action. Fast facts Microsoft is introducing a more fun working environment experience by announcing 3D avatar and immersive meeting settings, according to media reports. The Verge reported that Microsoft will use artificial intelligence to listen to the creator’s […]

Stablecoin toss to US Congress as regulators circle

Top blockchain and crypto news: Stablecoins at regulatory crossroads. Squid Game crypto players suffer shocking fate. Are metaverses China’s new national insecurity?

Dogecoin, Shiba Inu are becoming crypto alpha dogs in India

Dogecoin and Shiba Inu are gaining massive traction and ranking among the top five traded cryptocurrencies on Indian exchanges. Fast facts Dogecoin contributed 13.76% to the overall trading volume of CoinSwitch Kuber, which claims to be the largest Indian crypto exchange with over 10 million customers, over the last six months, according to a report […]

Wrapped XRP coming to Ethereum in December

Wrapped XRP (wXRP) will be supported on the Ethereum blockchain from December, according to an Oct. 31 announcement by Wrapped.com, a cross-chain wrapped assets provider. Fast facts Wrapped XRP will be backed 1:1 with XRP — the native cryptocurrency of the XRP Ledger (XRPL) — and held in custody with Hong Kong-based licensed digital asset […]

Ethereum, Solana, Polkadot climb to new all-time price highs in altcoin rally

Ethereum crosses the $4,600 mark for the first time and Solana overtakes Cardano as the fifth-largest cryptocurrency by market value.

Tarantino auctions seven uncut ‘Pulp Fiction’ scenes as NFTs

Director Quentin Tarantino announced he will auction seven uncut scenes from Pulp Fiction as non-fungible tokens.

Thailand’s oldest bank acquires majority stake in crypto exchange Bitkub

Thailand’s oldest bank, Siam Commercial Bank, has acquired a majority stake in the country’s largest crypto exchange Bitkub. Fast facts Siam Commercial Bank Securities, a subsidiary of SCB, has purchased 51% stake in Bitkub for approximately US$535.6 million, according to an announcement on Tuesday. The transaction is expected to be completed by the first quarter […]

US$66 billion at stake but only mild interest in Bitcoin trial

The outcome of a Miami civil trial may uncover who Bitcoin creator Satoshi Nakamoto really was, and who owns his rumored US$66 billion in Bitcoin.

Squid Game crypto rug pull: investors meet deadly ending

It’s a red light for those who bought the controversial token inspired by the Netflix mega-series Squid Game, as its developers appear to have cashed out their investments, leaving SQUID’s price to plunge 99.99%.

BXH suffers US$130 million exploit; Squid game token meets deadly end

BXH suffers US$130 million exploit, also Squid game token meets deadly end

Biden administration report on stablecoins calls for laws to mitigate risks

The highly awaited report outlines recommendations for stablecoin regulation and asks regulatory bodies to combat risks until Congress introduces new laws.

The Sandbox NFT metaverse platform raises $93M in Series B led by SoftBank

Sebastien Borget, COO and co-founder of The Sandbox tells Forkast.News how NFTs and an open and decentralized metaverse is transforming the way we live, work and play.

BXH says its exploit, now estimated at $139M, came from admin key leakage

The hacked DeFi platform called China’s cyber police first thing as most users appear to be in China.

Bitcoin mining difficulty recovers to May level

Bitcoin miners saw another mining difficulty adjustment on Monday, with an increase of 7.85%, recovering to the level recorded in May, according to data from BTC.com. Fast facts The mining difficulty level is now at 21.66 trillion at block height 707,616, reflecting the most difficult level since a previous adjustment on May 13, the data show. The latest […]

Scams now plague the NFT space. What can be done to stop them?

The big-money world of NFTs is also attracting hackers, thieves and con artists. How do you know if that Ape NFT or digital Banksy is fake?

Hong Kong’s CMCC seeks to raise $300 million crypto fund

CMCC Global, a venture capital firm based in Hong Kong, is targeting US$300 million worth of assets in its latest crypto fund, according to Bloomberg. Fast facts Since being launched in April, CMCC’s fourth digital asset fund has gathered assets close to an estimated value of US$90 million with a goal to reach the US$300 […]

Tech giants vow to resist NFT hype; Squid token under scrutiny

China’s tech cut ties to NFTs as Squid Game token leaves users questioning its legitimacy.

Another DeFi platform, BXH, suffers $130M exploit

This follows an attack on Cream Finance that also resulted in a $130M hack.

Shanghai plans to further popularize the digital yuan in the next five years

Shanghai outlined its plan to expand digital yuan pilot programs into the city’s five-year plan, in a recently released policy statement, “Shanghai’s Five-Year Plan of Comprehensive Promotion of Urban Digital Transformation.” Fast facts The plan said the city will expand pilot program for online and offline payments, transportation and government services. Shanghai is among the […]

Ant Group, JD.com, Tencent pledge to resist speculation of ‘digital collectibles’

Ant Group and Tencent recently rebranded NFT projects as digital collectibles amid China state media criticism.

Why blockchain is the operating system of the digital age

Blockchain has achieved platform status, writes Don Tapscott of Blockchain Research Institute. Get ready for the ‘trivergence’ that will shake up the world.

Can Axie Infinity go the distance?

The darling of the play-to-earn gaming world had an explosive start but now struggles with deflation and lower player earnings. Is the play-to-earn model sustainable?

China’s prefecture-level city Ganzhou cracks down on crypto activities

More local governments in China are taking actions to crack down on cryptocurrency mining and trading, with Ganzhou, a prefecture-level city in the eastern province of Jiangxi, having deployed checks and inspections on local businesses. Fast facts The economic development zone in Ganzhou announced that it is working with the central bank’s local branch, the […]

China eyes blockchain for carbon trading

A department director of the Shanghai Environment Energy Exchange (SEEE) said that blockchain will play an important role in the Chinese carbon cap-and-trade system for confirming, trading, and circulating carbon emission data. The statement comes at a time when China is intensively issuing top-down documents on reducing carbon emission heading into the 26th United Nations […]

Report: Stablecoins, CBDCs may not resolve financial inclusion, international remittance challenges

Stablecoins and central bank digital currencies (CBDCs) may not live up to their promise of increasing financial inclusion and improving cross-border payments in emerging markets, according to a new report by the Bank for International Settlements. Fast facts According to the report, the most important contribution of stablecoins is that they have drawn attention to […]

Defiant Facebook, now renamed Meta, goes all in on metaverse strategy as scrutiny tightens

Facebook, now called Meta, is casting off one of the world’s most famous names to retool itself into a metaverse company. Will its $10 billion bet pay off?

China’s state-backed blockchain network plans to launch NFT infrastructure

Red Date Technology, the company China tapped to manage its Blockchain-based Service Network (BSN), said today it plans to fully launch an infrastructure for non-fungible tokens (NFTs) by the end of January 2022. Fast facts Red Date revealed on Friday an NFT infrastructure plan — BSN-Distributed Digital Certificate (DDC) — at its BSN Open Permissioned […]

Warning issued over K-pop crypto; Dog fight hits crypto market

Warning issued over K-pop crypto meanwhile Dog fight hits crypto market

Thailand retail giant is testing its own digital currency C-Coin

Central Retail Corp., one of Thailand’s biggest department store chains, has developed a blockchain-based digital currency called C-Coin and is now testing it among employees, Bloomberg reported yesterday. Fast facts The company is currently distributing C-Coin to its 80,000 employees as bonus to their usual salary. Employees can use the crypto coin to shop at […]

Squid Game and BTS tokens emerge amid K-culture boom — and warnings to consumers

The wild popularity of South Korean Netflix TV series Squid Game and K-pop boy band BTS prompt parody tokens in the crypto space under circumstances that are being called into question.

Back to the future: Why Bitcoin is still a game-changer

Bitcoin is awakening humanity to its own sovereign capacities, says Ben Caselin of AAX. Here’s why the world’s first cryptocurrency is still at the cutting edge of finance and culture.

China’s national standard for blockchain could be released next year: report

China’s first national standard for blockchain could be released next year and a draft is now in the process of being submitted for approval, an official said earlier this week at an event in the western province of Sichuan, according to a report from local media Chuanguan, run by state-owned Sichuan Daily. Fast facts Li […]

13 years after Bitcoin’s whitepaper, what would Satoshi say?

Bitcoin is growing up in ways not imagined in Satoshi Nakamoto’s 2008 writings that gave birth to it. How will Bitcoin’s future unfold?

Facebook changes its corporate name to Meta to build on metaverse vision

Facebook CEO Mark Zuckerberg announced the social media giant is rebranding its corporate name to Meta as it focuses on building out its metaverse vision of an embodied internet with immersive spaces and experiences where people can digitally connect. Fast facts “The metaverse is the next chapter for the internet and it’s the next chapter […]