Binance bans derivatives in Hong Kong while Ethereum fork boosts trading
E-commerce company’s tie-up with government-owned lender suggests hybrid private-state future for central bank digital currency.
Since its launch in October 2020, Cambodia’s central bank digital currency project, Bakong, has reached 5.9 million users across the country, according to a report by Nikkei Asia. Fast facts The figure includes users of member bank mobile apps, with the number of Bakong electronic wallet addresses doubling in June from three months before to […]
Binance — the world’s largest cryptocurrency exchange by trading volume — today announced that it will be restricting the use of its derivatives products for customers from Hong Kong. Fast facts Hong Kong customers will, with immediate effect, not be able to open new Binance deriviative product accounts, according to a Binance announcement posted at […]
As court grants CEO request to obtain info from Binance to bolster defense in SEC lawsuit, Ripple seeks to expand use cases for XRP Ledger.
Indian athletes who have won medals at the Tokyo Olympics have been promised free cryptocurrencies by Indian crypto exchange Bitbns, according to a report by the Economic Times. Fast facts Bitbns will create systematic investment plans denominated in Bitcoin and Ethereum worth around US$2,695 for gold medalists, US$1,348 for silver medalists and US$674 for bronze […]
A revealing feature article on the hidden world of “hypecoins” was published by the New York Times yesterday, in which journalist David Segal recounted the process of creating and then selling his own hypecoin, which he called IdoitCoin. Fast facts Hypecoins, otherwise known as memecoins, are tokens with little or no intrinsic value, created only […]
Ethereum’s London hard fork sees a smooth launch as the crypto market sends Ether’s price soaring.
In an effort to curb runaway inflation, Venezuela’s central bank is removing six zeros from its currency and putting a digital bolivar into circulation on Oct. 1, according to reporting by Bloomberg. Fast facts An example of a central bank digital currency, the digital bolivar was announced by the Venezuelan central bank’s Twitter account yesterday […]
China continues e-CNY pilot also Google allows crypto advertising
Will Google greenlighting US crypto ads, Ethereum’s London upgrade and clearer regulations pave the way for another Ether price rally?
In a long-awaited reversal of a 2018 policy decision, Google will allow crypto exchanges and wallets to advertise on its platform in the U.S. But not everyone’s happy.
Bosch, a German manufacturing and technology company, today announced that it will be using a decentralized machine learning network built by Fetch.ai, an artificial intelligence lab based in the British city of Cambridge, to predict potential failures in manufacturing machinery. Fast facts The Bosch research team will be initiating machine learning trials on the Fetch.ai […]
The9 Ltd., a Chinese gaming company that only a few months ago pivoted to crypto mining, has signed a term sheet through a company unit with an enterprise in Kazakhstan to set up a joint venture. The move is a bid to ramp up crypto mining operations in the Central Asian nation. Fast facts Nasdaq-listed […]
DBS eyes bigger investor base as digital assets under custody top US$100 million.
Amid a turbulent time for the world’s largest crypto exchange, Binance has announced a new partnership with Alchemy Pay to bring crypto payment options to e-commerce platforms such as Shopify. Fast facts Running on the exchange’s Binance Pay feature, the partnership will allow users and merchants to send and receive crypto globally in over 40+ […]
Rothschild’s RIT Capital leads funding round for Aspen Digital to provide crypto services for institutional investors
Hong Kong-based Aspen Digital, a digital asset management platform for institutional investors, announced on Wednesday that it has secured US$8.8 million in pre-A funding to develop a one-stop shop for asset managers to invest in digital assets and manage their clients’ portfolios. Fast facts The funding round was led by RIT Capital Partners, the London-based […]
Cryptocurrency miners are front-running Ethereum transactions to make profits called MEV that critics decry as unfair. What can be done about it?
Ethereum upgrade closely watched also India launches e-RUPI voucher
Top blockchain and crypto news: Is Ethereum’s price flatlining on eve of revolution? Uncle Sam wants pay to play. China’s Big Tech toes the line with NFTs.
North America emerges as hardware demand hotspot amid Beijing’s regulatory onslaught against cryptocurrency sector.
ETH rose in a historic run in anticipation of ‘Ethereum halving’ — but dipped on the eve of the London hard fork. Forkast.News asks top cryptocurrency analysts to find out why.
Bitcoin SV has suffered another 51% attack beginning around 11:45 am EDT on Tuesday resulting in up to three versions of the chain being mined simultaneously, as initially reported by analytics firm CoinMetrics.io. It is the fifth such attack on the network since late June. Fast facts Further reporting by the firm reported all of […]
The Ethereum ecosystem is continuing to see strong growth, with institutional capital ‘flooding’ into decentralized finance and decentralized autonomous organizations flourishing.
The DigitalArt4Climate NFT initiative aims to promote art via blockchain technology to inspire environmental activism around the world.
Hong Kong crypto crime surges as Tencent launches NFT platform.
The next half decade will see mass adoption of decentralized technology, writes Max Kordek of Lisk. Here are the leading uses.
Global payments giant Square — which recently made moves into decentralized finance — is acquiring Australian “buy now pay later” fintech company Afterpay for US$29 billion (AU$39 billion) to expand its range of services, according to a recent company press release. Fast facts The purchase will enable Square’s CashApp and Seller business units to offer […]
Australian cryptocurrency exchange Independent Reserve said Monday that it had received an “in-principle approval” for a Major Payment Institution License in Singapore to operate as a regulated digital payment token (DPT) service provider, according to a company statement. Fast facts Founded in Australia in 2013, Independent Reserve set up its first overseas operations in Singapore […]
Crypto-related crime has hit record levels in Hong Kong for the first six months of this year, with one victim losing HK$124 million (US$15.95 million) to fraudsters, according to the South China Morning Post. Fast facts Hong Kong police recorded 496 such cases totaling HK$214.4 million (US$27.58 million) in just the first half of this […]
Facebook CEO Mark Zuckerberg has a vision for metaverses — online worlds that one day will replace big parts of our offline lives. But some say that future is already here.
China maintains crypto market pressure. On the other hand, J-Pop stars offer NFT advice.
People’s Bank of China vows to keep sector under ‘heavy pressure’ as it pushes digital yuan.
World’s biggest cryptocurrency exchange steps up compliance and cuts product offerings, with a ban in Malaysia and end of lucrative derivatives business in three EU nations.
A provision in an infrastructure bill being debated by the U.S. Senate has prompted concerns in the crypto industry as it boosts Internal Revenue Service reporting requirements for investors and brokers. Fast facts According to the New York Times, the provision is an effort to help fund a US$ 1 trillion bipartisan bill and could […]
Matrixport, a Singapore-based digital asset financial services platform, today announced the completion of a series-C funding round, bringing the company’s valuation to more than US$1 billion. Fast facts The funding round was led by partners of DST Global, C Ventures and K3 Ventures, with other investors including Qiming Venture Partners, CE Innovation Capital and Tiger […]
How NFTs can track patient consent for clinical trials and give you greater control over your own health data
A new NFT platform built on Hedera Hashgraph aims to give patients greater control over their health information. How does it work?
Celsius Network CEO says crypto lenders are using Wall Street’s ‘safest’ business tactic to provide high interest rates to customers. What are the risks?
Busan plans digital asset exchange meanwhile Tencent launches digital IOUs.
Blockchain technology is part of the important work being done toward a safer and healthier world. Lucas Schweiger of Blockdata summarizes this year’s strides forward.
The global Bitcoin hashrate is now on an uptrend as miners pushed out by China resettle on friendlier shores and resume investing big money in mining equipment.
Busan, the “blockchain city” of South Korea, is in the early stages of building its own platform for digital asset transactions. Fast facts According to Coindesk Korea, Busan city has started setting up detailed plans and strategies in establishing a digital asset exchange. Its plans include building an ecosystem for securities token-based digital asset transactions […]
Speaking to Parliament, India’s finance minister reveals that the government does not know how many crypto exchanges India has nor the number of crypto users.
The International Monetary Fund says it has a mandate to help countries around the world adopt and adapt to digital currencies, but only if the digital money is in the public interest — which Bitcoin is not, according to an IMF report published yesterday. Fast facts While the IMF recognizes the potential benefits of digital […]
Japan’s crypto-asset business association published a report yesterday that highlights issues in crypto investing for the country’s institutional investors. Fast facts This report is an update of the latest use cases and projects from the “Discussion Paper Interim Report on Cryptocurrency Use Cases” published on May 7, 2021, and is a supplementary material to the […]
Robinhood’s hotly-anticipated market debut had an underwhelming start on Thursday, closing 8% down on its debut price of US$38, according to data from TradingView.com. Fast facts Trading under the ticker HOOD, Robinhood’s stock had an immediate rocky start, falling 10% before recovering slightly. But HOOD still ended the day at US$34.82. As Forkast reported recently, […]
China’s internet giant Tencent launched a blockchain-based digital IOU service on its flagship product WeChat, one of the nation’s most popular apps for messaging and payments. Fast facts Aside from Wechat’s existing “mini receipt” and “mini contract,” Tencent says its new IOU function would allow friends to borrow money more easily from each other, according […]
Tokenization is creating new ways to invest. 3 crypto firms are partnering to also offer crypto retirement portfolios and inheritance planning.
Number of new South Korean crypto investors have tanked in the month of June as crypto mining investments boom outside China.
Despite China’s crackdowns on Bitcoin mining and growing consternation about crypto mining’s carbon footprint, some miners are betting big on a rosy future.
Iranian state electric company Tavanir has warned judicial officials about Chinese cryptocurrency miners coming to Iran, an influx that could worsen the country’s power outage problems, according to local media reports. Fast facts Tavanir CEO Mohammad Hussein Motevallizadeh said in a letter published by local news website Eghtesadnews that the Chinese government’s crackdown on crypto […]
PayPal customers will soon have access to a greater range of crypto services through the global payment platform, CEO Dan Schulman said during PayPal’s Q2 2021 investor update call yesterday. Fast facts Describing the upgrade as “code complete,” Schulman said the wallet should be fully available for customers in the Unite States in the next […]
Shifting to renewable energy is now a global goal. Using electric vehicles as an example, Author Joseph Jacobelli examines how digital technologies like blockchain will lead the way to a greener planet.
Flush with capital, blockchain and crypto firms are on a hiring spree. Here’s how the battle for crypto talent is playing out.
Hong Kong-based crypto financial services company Amber Group wants to bridge the gap between creators, collectors and platforms looking to get into NFTs and the crypto space.
Binance CEO CZ confirms that a new executive may lead the organization. Meanwhile, Bitmain spins off one of the world’s largest mining pool Antpool.
The fee-free trading platform’s initial public offering promises plenty of action for retail investors, but pitfalls may lie in wait amid trading volatility and wider adoption of business model.
Top blockchain and crypto news: Is Amazon taking up BTC? Robinhood’s share sale deserves scrutiny. Did Huobi jump or was it pushed?
South Korea’s Financial Services Commission revealed today that it had discovered 14 bank accounts used by virtual asset exchanges that had been registered in names that were not those of the exchanges themselves. Fast facts It is not legal for crypto exchange bank accounts held under other names to accept customers’ funds on behalf of […]
Thailand’s central bank yesterday published guidelines to regulate and promote the use of blockchain technology in the financial sector. Fast facts Released by Siritida Panomwon Na Ayudhya, assistant governor of the payment systems policy and financial technology group at the Bank of Thailand, the guidelines provides principles for blockchain technology adoption by financial services providers. […]
San Francisco-based payments technology company Ripple has partnered with SBI Remit, Japan’s largest money transfer provider, mobile payments service Coins.ph and digital asset exchange platform SBI VC Trade to use XRP for remittances between Japan and the Philippines, according to a company statement. Fast facts The partnership — Ripple’s first on-demand liquidity service implementation in […]
Binance also tightens withdrawal limits and unveils new tax reporting tool, to counter recent flurry of government investigations and bad publicity.
Fifteen of India’s largest banks have invested in a fintech firm that aims to use blockchain to speed up domestic letters of credit, a first in domestic trade finance, regulatory filings to the National Stock Exchange of India show. Fast facts Named the Indian Banks’ Blockchain Infrastructure Co., the firm uses blockchain technology to verify […]
In the latest effort of crypto cross-promotion, Burger King Brazil is now accepting the memecoin Dogecoin as payment for a “Dogpper” — a special edible doggie treat for customer’s pets and a play on words of the fast-food chain’s famous burger, the Whopper. Fast facts The doggie treat is not new to Latin America. Burger […]
In an effort to “expand and accelerate innovation around digital asset technology”, Mastercard is launching a new global program to support cryptocurrency startups by giving them access to Mastercard’s business network and technology. Fast facts Announced yesterday, Mastercard’s Start Path program already has signed up seven crypto-related startup companies: GK8, Mintable, Stacs, Supraoracles, Taurus, Uphold […]
Zero-fee trading app Robinhood is looking to introduce features to better protect users against the price volatility of crypto trading, according to a report by Bloomberg based on an analysis of the platform’s code by iOS developer Steve Moser. Fast facts According to a message in the code, a new feature called “price volatility protection” […]
Ethereum’s future is top of mind for a group of fintech experts polled by Finders. Where do they think Ethereum prices are headed, and will Ethereum overtake Bitcoin?
OKG Technology Holdings, the parent company of crypto exchange OKEx, suffered an 89.8% year-on-year slump in revenue from operating Ethereum stablecoin USDK, its FY 2021 annual report shows. Fast facts Its USDK revenue was just HK$159,000 (US$20,470). Currently, USDK, which launched in 2019, has a market cap of US$28.68 million and a circulating supply of […]
Jasmine Telecom Systems, a publicly-listed unit of Thai telecoms operator Jasmine International, is set to ride the Bitcoin mining wave, with plans to install tens of thousands of mining machines over the next few years. Fast facts JTS is kicking off plans to deploy 500 mining machines in a data center in the third quarter […]
Electric carmaker Tesla on Monday reported that it held US$1.3 billion of Bitcoin, according to the company’s Q2 2021 financial results update. Fast facts There was no change to Tesla’s Bitcoin holdings from the previous quarter, but the company took a Bitcoin-related impairment hit of US$23 million due to the fall in Bitcoin prices, according […]
Closure of blockchain business may be related to regulatory concerns, but unlikely to hit crypto industry hard, observers say.