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Binance faces US probe for possible insider trading and market manipulation

Binance, the world’s largest cryptocurrency exchange by trading volume, is reportedly now under investigation for possible insider trading and market manipulation by the United States Commodity Futures Trading Commission (CFTC). Fast facts According to a Bloomberg report that cited unnamed sources, investigators from the CFTC — the agency that regulates the U.S. derivatives markets — […]

4 Chinese cities to compete for inclusion in e-CNY pilot programs

Four Chinese cities announced they will compete for inclusion in the next batch of digital renminbi pilot projects. They are Guangzhou, Tianjin, Yiwu and Fuzhou. Fast facts Guangzhou and Tianjin have written their goals into their city’s “14th Five-Year Financial Industry Reform Plan,” and Yiwu’s plan has been reported to the State Council. Guangzhou is […]

Black Friday for Korean exchanges; E-CNY launch in final stretch

Black Friday for Korean exchanges while E-CNY launch in final stretch

Black Friday in South Korea as crypto exchanges announce shutdown

All but four platforms in South Korea obligated to announce the suspension of their services by today.

India’s largest public bank bars payments to crypto exchanges

Most banks distance themselves from virtual asset platforms as the country’s central bank lobbies for a ban.

In crypto market, altcoins get a chance to shine

AVAX and SHIB outperform Bitcoin, which gained in price but shied from the $50K mark.

China’s Inner Mongolia seeks out stealth crypto mining operations

China’s Inner Mongolia region — once a thriving cryptocurrency mining hub that has enacted a series of measures to rein in the sector — is tightening its crackdown by hiring a contractor to monitor and ferret out mining operations. Fast facts The Inner Mongolia Development and Reform Commission announced on Wednesday a bidding result for […]

U.S. Treasury prepares to recommend stricter regulation on stablecoins

The U.S. Treasury is preparing a raft of recommendations for stricter oversight of Tether and other stablecoins, as unnamed insiders say the department has identified the greatest risks posed by the tokens, according to a recent Bloomberg report. Fast facts Making sure investors are able to transfer money in and out of tokens is a […]

El Salvador’s Bitcoin adoption, one week on

It’s hot on Bitcoin Beach and the Twitterverse, but the new legal tender doesn’t have uptake elsewhere in the Central American country.

Crypto exchange Binance wants centralized headquarters amid regulatory heat

Under scrutiny around the world, the largest cryptocurrency exchange wants to do a better job engaging with regulators.

Avalanche’s AVAX token surges to all-time high after $230M fundraise

AVAX — the native token of the Avalanche blockchain — today surged to a new all-time high of US$68.34, according to CoinGecko data, boosted by news of a US$230 million investment into the Avalanche ecosystem. AVAX has increased by 60% over the past seven days. Fast facts Launched in September 2020, Avalanche is an open, […]

Why Cardano’s Charles Hoskinson says DeFi is ‘up for grabs’

As Cardano’s Alonzo upgrade goes live, founder Charles Hoskinson of IOHK calls DeFi a ‘bubble.’ How does he think the regulation that is sure to come will reshape DeFi in the future?

How quadratic funding promotes projects for the common good

What is quadratic funding, and why is this mathematical method ideal for allocating capital for a community? Pranav Sharma of Woodstock Fund explains.

Hong Kong-based crypto lender Babel Finance expands to Singapore

Babel Finance, a Hong Kong-based crypto lender and asset manager, today announced it is opening a business headquarters in Singapore named Babel Asia, as the company looks to serve more clients globally. Fast facts Babel Asia plans to serve as a base for future merger and acquisition activities, together with Babel Finance to drive mainstream […]

Logging each step in tea production on a blockchain — from farm to cup

With the ease of counterfeiting products like premium tea, keeping a tamper-proof digital paper trail can record each step along the way.

Canaan reports record revenues; Korea says no to crypto tax delay

Canaan reports record revenues meanwhile Korea says no to crypto tax delay

Canaan sees strongest ever quarterly sales results

Leading Chinese crypto mining hardware manufacturer attributes robust revenue to ‘substantial increase in total computing power sold.’

NFT charity auction to benefit low-income families in Singapore

Blockchain Association Singapore (BAS) and Singapore’s National Trades Union Congress (NTUC) U Care Fund today announced their inaugural non-fungible token (NFT) charity auction event, Blockchain For Good, which will take place Oct. 4 to 10. Fast facts The charity initiative — supported by a wide range of companies including Singapore Airlines, Amazon Web Services Inc., […]

South Korea’s finance minister stands by 20% crypto income tax plan

South Korea’s finance minister Hong Nam-ki gave a firm “no” at the National Assembly to lawmakers asking for crypto taxation to be delayed until the industry is fully prepared. Fast facts Minister Hong insisted the plan to tax capital gains from cryptocurrency transactions should be executed as planned. The amended tax law stipulates that crypto […]

China’s blockchain infrastructure project goes live in Hong Kong, Macau

Blockchain-based Service Network (BSN) soft launch is the first attempt to roll out the state-backed ‘internet for blockchain’ outside of the Chinese mainland.

Insider trading scandal rocks world’s biggest NFT platform OpenSea

As the trading volume in non-fungible tokens begins to slow down from recent record heights, leading NFT marketplace OpenSea has been rocked by an insider trading scandal involving a senior team member. Fast facts The company, dubbed “the eBay of NFTs,” issued a statement yesterday acknowledging it became aware on Tuesday that an employee had […]

Solana validators complete restart; Laos ends crypto ban

Solana validators complete restart also Laos ends crypto ban

Litecoin unloved at Walmart. Cardano’s Alonzo upgrade. China takes aim at NFTs.

Top blockchain and crypto news: Walmart dispels Litecoin hoax. Cardano’s real work begins. Beijing bears down on NFTs.

SEC chair says most cryptocurrencies including stablecoins are securities

In his testimony before the Senate Banking Committee, Gary Gensler, chairman of the U.S. Securities and Exchange Commission, said that Coinbase lists “dozens of tokens that may be securities.” Fast facts In response to Senator Pat Toomey’s questions about whether cryptocurrencies classify as securities, Gensler said “very many” of the cryptocurrencies, including stablecoins, are in […]

Solana crashes, SOL prices tumble as network scrambles to restart

SOL had been on a tear but is now losing ground. Is Solana a victim of its own success — or does the network have deeper problems?

Bank of China, DBS and HSBC partner with GSBN on digitizing trade finance

Three banks — the Bank of China, Singapore’s DBS and HSBC — have partnered with the Global Shipping Business Network (GSBN), a Hong Kong-based non-profit consortium that recently launched a blockchain-based trade platform, to form a trade finance advisory group, according to a media release shared with Forkast.News today. Fast facts Trade finance — the […]

Laos backpedals on crypto ban, looks to trading, mining pilot program

The government of Laos has authorized six firms to trade and mine cryptocurrencies, ending a ban imposed in 2018, according to a recent notice from the prime minister’s office.  Fast facts Laos had implemented a complete ban on cryptocurrencies three years ago, including on trading and mining activities. As recently as last month, the country’s […]

South Korean exchanges close cash-to-crypto trading services as new rules loom

Mid-sized crypto exchange Foblgate announced the closure of its Korean won (KRW) trading functions in advance of a government mandate banning digital asset platforms from operating cash-to-crypto services without a local bank partnership. Fast facts Foblgate announced it is temporarily suspending its KRW withdrawal, deposit and trading market between cryptocurrencies and the Korean won. Instead, […]

FTX hit by hack rumor; Korea updates crypto death note

FTX hit by hack rumor meanwhile Korea updates crypto death note

South Korea’s crypto ‘death note’ updated; 7 more exchanges to survive

Financial authorities reveal an updated list of virtual asset platforms that have complied with new regulations.

China’s Hebei and Gansu provinces to phase out crypto mining

More provinces in China are putting new limits on the cryptocurrency mining sector, as the country works toward its carbon neutrality goals and concerns over cryptocurrency trading loom. Fast facts Authorities in North China’s Hebei province today issued a notice to crack down on cryptocurrency mining and trading activities, saying that crypto mining consumes huge […]

Walmart, FTX and Animoca Brands hit by crypto misinformation

Scams and fake news have long dogged the crypto world. This week saw two major blockchain companies and a global retailer get swept up by hack rumors or hoaxes.

China-run media outlet criticizes NFT platform as a payment risk

In the latest response to a growing interest in non-fungible tokens, Beijing Business Today faults an art marketplace.

Ernst & Young teams up with Polygon on Ethereum scaling

Ernst & Young, one of the Big Four consulting multinationals, announced today it has integrated India-based Polygon, a Layer 2 Ethereum scaling solution, to allow its corporate clients to process blockchain-based transactions on the Ethereum mainnet. Fast facts EY has connected the public Polygon commit chain with EY’s blockchain services including EY OpsChain and EY […]

SEC chair reiterates call for crypto platforms to ‘come in and talk to us’

Ahead of the U.S. Banking Committee’s hearing on the “Oversight of the U.S. Securities and Exchange Commission” today, SEC Chairman Gary Gensler reiterated his call for crypto platforms and projects that have securities to register with the agency. Fast facts In prepared remarks, Gensler emphasized the concerns he sees over the lack of investor protection […]

CrossTower says it wants to collaborate, not compete, with Indian exchanges

CrossTower became the second international crypto exchange to enter the Indian market last week after Binance made its entry by acquiring WazirX in 2019.

China state mouthpiece criticizes NFT mania

A sister paper of the People’s Daily, Securities Times, published an opinion piece to criticize non-fungible tokens (NFTs) as hype and suggested the digital assets should serve the real economy by tokenizing actual assets. Fast facts The article offers as an example Justin Sun’s NFT purchase of a digital avatar for US$10.5 million and the […]

E-CNY problems to be solved; China sees warning over NFT hype

E-CNY problems to be solved, also China sees warning over NFT hype

Altcoins have their day in the sun as market pulls back

A few altcoins managed to stand out coming into the working week as Solana’s tear comes to an end.

What are smart contracts and what are they used for?

In this Forkast.News explainer, learn why blockchains with smart contract capability are surging in popularity and the new darlings of investors.

What crypto can learn from Apple’s smooth interface to computing

Crypto in 2021 is like the early days of the internet, writes Hisham Khan of Aldrin. Here’s why the quality of user experience will decide the industry’s future.

Searching for Asia’s ‘hidden treasures’ in NFTs and GameFi

Why is Axie Infinity so popular, and what is the potential of play-to-earn gaming? Two venture capitalists share insights on Asia’s special place as GameFi’s hub.

Cardano smart contracts set for Sunday: CrossTower launches in India

Cardano smart contracts set for Sunday also CrossTower launches in India

Hangzhou launches China’s first intellectual property blockchain certification platform

In another example of harnessing blockchain technology in the legal world, the Zhejiang Patent Office launched China’s first intellectual property blockchain certification platform on Thursday in Hangzhou, Zhejiang Province’s capital city. Fast facts The platform provides users with a blockchain certification after they upload pictures or description documents of their original creation, such as art […]

Mastercard acquires crypto investigation firm to boost security

Payments giant Mastercard announced it is extending its reach into the realm of cryptocurrency with the acquisition of CipherTrace, a blockchain analytics startup, for “greater security, transparency and trust to digital assets across the ecosystem.” Fast facts CipherTrace, which calls itself the world’s first blockchain forensics team, provides cryptocurrency tracking and investigation services. It launched an […]

Cardano set for Alonzo launch, smart contracts and NFTs to come

Cardano’s Alonzo hard fork will bring smart contracts and NFT support to the world’s third-largest blockchain. What will it mean for the crypto market?

International crypto money launderer who worked with N. Korean hackers gets 11 years

A Canadian-American citizen, who laundered tens of millions of dollars for cybercriminals including North Korea’s military intelligence agency hackers, has been sentenced to 11 years in prison, the U.S. Department of Justice announced. Fast facts Ghaleb Alaumary, 36, pleaded guilty to money laundering in 2020 and has been asked to pay US$30 million in restitution […]

‘Pororo the Little Penguin’ NFTs and metaverse theme park underway

The Sandbox, Animoca Brand’s subsidiary for decentralized virtual gaming, announces partnership with animation studio in Korea.

Singapore’s cult-favorite premium collectibles maker XM Studios finances expansion plans through tokenization

Design studio that makes hand-crafted statues for global brands such as Marvel, DC Comics and Hasbro plans to expand into new product categories, markets and NFTs.

What does El Salvador’s new Bitcoin law mean for crypto markets?

El Salvador’s Bitcoin embrace may be a domino for some emerging markets, but a fierce rival to the BTC is also coming to the fore.

Why Algorand’s price is on a two-year high right now

Algorand’s ALGO cryptocurrency prices have surged by 90% over the past seven days, crossing the US$2 mark and hit a two-year high of US$2.44 today, according to CoinGecko data. ALGO, ranked the 17th largest cryptocurrency by market value, has not seen such price heights since its launch in 2019. Fast facts Algorand is an open-source, […]

South Korean exchanges facing closure may seek legal action to halt new regulations

At the risk of losing billions, crypto industry officials weigh options to oppose authorities.

Korea crypto damage assessed; Initium’s news based NFTs sell out

Korea crypto damage assessed meanwhile Initium’s news based NFTs sell out

Mark Cuban to Coinbase: ‘Go on the offensive’ against SEC over high-yield product

Billionaire investor Mark Cuban says Coinbase should “go on the offensive” against the U.S. Securities and Exchange Commission in its feud over high-yield savings account Lend. Brad Garlinghouse, CEO of Ripple — which is itself embroiled in ongoing litigation with the SEC — quipped “Welcome to the party” in a GIF tweet. Fast facts In […]

Crypto mining rig giant Bitmain to supply 56K miners to U.S. partners

China-based Bitmain, one of the world’s biggest producers of cryptocurrency mining rigs, has sealed a deal with its United States partners — ISW Holdings and Bit5ive — to expand its operation in America. Fast facts ISW Holdings, a Nevada-based portfolio company with extensive crypto mining operations, will host 56,000 Bitmain mining rigs and pair them […]

Former Hong Kong news site issues NFTs to preserve history

Initium Media, also known as 端傳媒, is turning to blockchain technology to grow revenue and to ensure controversial news does not get forgotten — or tampered with.

Solana launches into sixth place as price tear continues

As most of the market saw a 10% to 15% dip in the past 48 hours, Solana (SOL) has defied that trend, crossing the US$200 mark for the first time and becoming the new sixth-largest coin by market cap a few hours ago, according to data from CoinMarketCap.com. Fast facts SOL was trading at US$205.27 […]

Bitcoin miner Blockstream partners with Macquarie for zero-carbon project

As the debate over cryptocurrency’s carbon footprint rages on, leading bitcoin miner Blockstream is developing new zero-carbon Bitcoin mining facilities in partnership with Australia-based financial services giant Macquarie Group, according to a company blog post. Fast facts The first pilot site will be in the U.S. where Blockstream will leverage Macquarie’s experience in green investments […]

El Salvador wowed the world by adopting Bitcoin as legal tender. Other countries are taking note

Following crypto’s adoption in one struggling economy, nations in Latin America and elsewhere are now weighing the pros and cons of digital currency

Polkadot’s decentralized identity project KILT wins Kusama parachain auction

KILT Protocol, an open-source blockchain protocol for issuing self-sovereign, anonymous and verifiable credentials, has won the sixth Kusama parachain auction and has launched its mainnet, the project announced yesterday. Kusama is Polkadot’s canary network for blockchain developers to build and test out their code as well as products and services. Fast facts KILT Protocol had […]

Riding the NFT trend: questions to consider before investing in these hot digital assets

As non-fungible tokens break into the mainstream, experts advise buyers to do research and watch for a correction.

Chinese game company’s stock price soars after announcing metaverse game

A Chinese game company, Zhong Qing Bao, announced a metaverse game, and its stock rose considerably this week for two days in a row. Fast facts The game’s name is Brew Master, a game that lets players pretend to be winemakers and trade the wines that they make as NFTs. Two days after the game […]

What decentralization means for internet censorship | Ep. 2

What was internet censorship like in the early days, how has it changed, and what role does decentralization play.

Binance Smart Chain one year on — from DeFi to NFTs and gaming

Have DeFi exploits on BSC hindered the blockchain’s success? NFTs and gaming offer a boost.

South Korean crypto exchanges in ‘purgatory’ plea for survival

Smaller virtual asset exchanges ask for mercy as a deadline looms to commit to Korea’s new standards.

Bitcoin price plunges; Metaverse actions heats up in China

Bitcoin price plunges however Metaverse actions heats up in China

El Salvador’s big Bitcoin bet. Kim Kardashian, crypto flirt. Hong Kong’s crackdown warning.

Top blockchain and cryptocurrency news: El Salvador’s BTC experiment. EthereumMax and the power of celebrity. Hong Kong shores up regulatory oversight.

Markets shed 10-15%; experts say not to worry

Despite significant losses across the board, industry experts are not too concerned, seeing the plunge as normal market behavior.

SEC threatens to sue Coinbase over high-yield savings account

Crypto platform CEO claims regulators use ‘intimidation tactics behind closed doors’ by refusing to provide clarity.

Hong Kong regulator: ramp up oversight of virtual assets

An official from Hong Kong’s Securities and Futures Commission said on Tuesday that the regulator wants to increase oversight of virtual assets because scams related to them have emerged in the market, according to a report by local media etnet. Fast facts Julia Leung, deputy chief executive officer at SFC, said Tuesday at a webinar […]

El Salvador ‘buys the dip’ as Bitcoin price tumbles one day after adoption

Just one day after El Salvador’s highly-anticipated adoption of Bitcoin as legal tender, the country’s recently acquired nest egg of 400 BTC lost roughly US$2.5 million in value as the entire crypto market saw a loss of 10% to 15% in 24 hours, according to CoinMarketCap.com Fast facts Bitcoin was trading around a four-month high […]

What are public, private and permissioned blockchains?

What are the different kinds of blockchain, and how do they compare? Learn all about public, private and permissioned platforms in this Forkast.News explainer.