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HIVE buys more crypto mining rigs from Bitmain, adding to Canaan deal

HIVE Blockchain Technologies, a Vancouver-headquartered crypto mining company, is buying 1,800 machines from Chinese mining rig maker Bitmain to expand its mining operation. Fast facts HIVE said that it had ordered 1,800 Antminer S19j Pro miners from Bitmain, and the new machines are expected to bring an aggregate hash power of 180 petahash per second, […]

Tencent unit QQ Music sells first NFTs

Chinese tech giant Tencent’s music streaming arm, QQ Music, has jumped on the non-fungible token bandwagon and over the weekend sold out its first NFT featuring popular Mando-pop singer Tiger Hu. Fast facts QQ Music, one of China’s major music entertainment platforms, plans to roll out a slew of music NFTs. Over the weekend, all […]

Asia leads world in crypto investment, report says

Asian nations are leading the world in retail crypto investment, according to a recent report by Finder.com, which found that of 27 countries surveyed, the top five were all in Asia. Fast facts Vietnam was by far the leader in crypto adoption, with 41% of respondents saying they owned at least one cryptocurrency. Indonesia and […]

Solana leads altcoin surge as SOL price hits new all-time high to flip Uniswap

Solana price hits new record and enters top 10, beating Uniswap, following launch of blockchain communication bridge Wormhole and sellout debut of Degenerate Ape NFTs.

India gets Bitcoin rewards cards with backing from crypto-averse central bank

GoSats, an Indian Bitcoin rewards app, has launched a new cash back card that will allow Indians to earn up to 100% of their spending in Bitcoin and provide a chance to win one full Bitcoin on every spend, GoSats announced in a tweet. Fast facts The GoSats prepaid RuPay debit cards will be released […]

Report: Ethereum is most popular cryptocurrency in Singapore

As cryptocurrencies gain increasing adoption, the profile of crypto investors in Singapore — one of Asia’s biggest hubs for traditional finance as well as the emerging crypto industry — is broadening from younger investors to mature investors who see crypto as a viable long-term investment, according to the State of Crypto in Singapore report published today. […]

Polygon makes the case for scaling solutions after ETH 2.0

London hard fork is live and Ethereum users are hoping high gas fees will be a thing of the past. Will ETH improvements phase out layer-2 scaling protocols? Polygon’s co-founder thinks not.

Poly Network recovers assets; Rario launches cricket NFT platform

Poly Network recovers assets meanwhile Rario launches cricket NFT platform

Cryptocurrency vs. gold — which is the better investment?

Gold and cryptocurrency have more in common than not, and savvy investors would do well to hold both, writes Sylvia Carrasco of Goldex.

Blockchain, crypto investment soars in H1 2021

Global investment in blockchain and cryptocurrencies leapt in the first half of 2021, with US$8.7 billion raised and 548 deals sealed, according to consulting firm KMPG’s latest Pulse of Fintech H1’21 report. Fast facts Global fintech investment in H1 2021 reached US$98 billion in 2,456 deals, compared to US$121.5 billion for the whole of 2020, […]

Iran tax authority pushes to legalize crypto exchanges

In a position seemingly at odds with the remainder of the country’s government, the Iranian National Tax Authority has proposed legalizing digital asset exchanges in order to better collect tax from them, according to local media outlet Eghtesad News. Fast facts The INTA also warned that imposing overly stringent regulation on the sector could have […]

Chinese payment giant Alipay finds buyers for new NFTs

Alipay, one of China’s major payment apps, has again rolled out non-fungible token artworks designed as wallpapers for users’ payment code pages, with a total of 80,000 copies of two editions combined having sold out within a day. Fast facts Alipay yesterday started selling two editions of artworks — built on its own Ant Chain […]

Poly Network hacker returns remaining assets, offered US$500K white hat bounty

Poly Network has confirmed that all its remaining stolen assets on Ethereum, worth around US$269 million, barring US$33 million worth of Tether that was frozen post-attack, have been returned to a multi-signature wallet controlled by itself and the hacker. Fast facts The hacker had returned more than 50% of the assets stolen on the Polygon […]

Argentinian president tangos with Bitcoin despite central bank warning

Argentinian President Alberto Fernandez has indicated he is open to adopting Bitcoin as legal tender and a central bank digital currency, according to a media report yesterday, just two days after the head of the country’s central bank, Miguel Pesce, described cryptocurrencies as a threat to economic stability. Fast facts During an interview with media outlet Caja […]

Poly Network assets returned; OKEx lists Baby Doge

Poly Network assets returned also OKEx lists Baby Doge

TZ APAC in Tezos blockchain adoption push in Asia

TZ APAC, an entity supporting the Tezos blockchain ecosystem in Asia-Pacific, this week announced a “strategic commitment” to the region as it bolsters its efforts to grow the Tezos ecosystem. Fast facts TZ APAC intends to deploy capital and resources across the region towards business development, marketing and project management to drive adoption of the […]

How to avoid the pitfalls of FATF’s crypto travel rule

Crypto exchanges, or VASPs, are coming under increasing regulation. Complying with the Financial Action Task Force’s travel rule will be one of them.

Cambodian central bank, Maybank partner on cross-border digital currency transfers

Malaysia’s Maybank and the National Bank of Cambodia yesterday announced the launch of a real-time funds transfer service between Malaysia and Cambodia — the first international partnership between a bank and Cambodia’s Bakong digital payments system. Fast facts The service facilitates fund transfers via NBC’s Bakong e-wallet and Maybank’s MAE app. It allows Maybank customers […]

Amber Group partners with ETH Zurich, China’s Southern University of Science & Tech on crypto risk management

Hong Kong-based crypto finance firm Amber Group has announced a collaboration with the Institute of Risk Analysis, Prediction and Management (Risks-X) on a crypto risk management research project, according to a company statement. Fast facts Risks-X is a research institute collaboration between ETH Zurich, a public research university in Zurich, and the Southern University of […]

DBS Vickers wins nod for Singapore crypto license

DBS Vickers, the brokerage arm of Singapore’s DBS Bank, today announced that it has received in-principle approval from the Monetary Authority of Singapore to provide digital payment token services in Singapore as a major payment institution under the Payment Services Act. Fast facts DBS Vickers’ notification follows that of Australian cryptocurrency exchange Independent Reserve, reported […]

Accenture falls prey to ransomware attack

Accounting and consultancy giant Accenture has become the latest major victim of a ransomware attack. After Accenture initially reported that it had repelled a hacker group named Lockbit, encrypted files belonging to Accenture began to be published today, according to a report by Decrypt. Fast facts An Accenture spokesperson said in a statement: “Through our […]

Poly Network hackers say they wanted to ‘save the world,’ return over 50% of stolen funds

Poly Network hackers have returned stolen assets worth around US$340 million so far.

XRP price rises as GME joins RippleNet to expand remittances between S. Korea and Thailand

San Francisco-based payments technology company Ripple this week announced that South Korean money transfer company, Global Money Express Co. Ltd (GME Remittance), has joined RippleNet to expand remittances between South Korea and Thailand. Fast facts Some 184,000 Thai nationals live in South Korea, and they account for the third largest group of foreign nationals in […]

Total crypto market cap reaches $2 trillion again

The total market capitalization of cryptocurrencies has just broken the milestone of US$2 trillion for the first time since May, reflecting a bullish trend since earlier this month. Fast facts On Wednesday night Hong Kong time, the total crypto market cap reached US$2.007 trillion and stood at US$2.002 trillion on Thursday at noon, according to […]

SEC’s Gensler tells Warren: crypto investors not adequately protected

In a much-anticipated reply, U.S. Securities and Exchange Commission Chair Gary Gensler has written to Sen. Elizabeth Warren saying “crypto investors are not adequately protected.” Fast facts “In my view, the legislative priority should center on crypto trading, lending, and [decentralized finance] platforms. Regulators would benefit from additional plenary authority to write rules for and […]

OKEx lists new Dogecoin spawn amid DOGE price surge

Amid a surge in the price of Dogecoin, Seychelles-based crypto and derivatives exchange OKEx has listed Baby Doge Coin — a new cryptocurrency “created by fans of of the widely popular Dogecoin” — for spot trading, according to a company news release. Fast facts OKEx’s listing had a brief positive impact on Baby Doge’s price […]

What are ‘Ethereum killers’ and what are their prospects with Eth2 under way?

With Ethereum 2.0 still in development, rival blockchains like Cardano, Binance Smart Chain, Solana and Polkadot are hot on Eth’s tail. Who might prevail, and why?

Largest hack in DeFi history; ADA hits two month high

Largest hack in DeFi history while ADA hits two month high

NFT trade takes off. Tether’s bankable reserves. Tencent targeted in China.

Top blockchain and crypto news: NFT wave buoys OpenSea. Are dollars and sense a lifeline for Tether? Tencent gets a target on its back.

China’s mining exodus flows to U.S. Is Texas the new promised land?

Poolin, a major mining pool in China, has set sail for America. ‘Large players are all over the U.S. now looking for deals.’

Why honest centralization is superior to chaotic decentralization

Are DAOs and decentralization always beneficial for the group or the user? Antoni Trenchev of Nexo urges you to think again.

Chinese DeFi platform Poly Network suffers US$600M hack

Impact of one of the biggest heists in the industry looks set to be mitigated as hackers agree to return funds.

BitMEX pays US$100M to settle AML, KYC compliance breach charges

After nearly a year under investigation, crypto exchange and derivatives trading platform Bitmex has agreed to pay as much as US$100 million to settle charges brought by the U.S. Commodity Futures Trading Commission and the Financial Crimes Enforcement Network, according to a company blog post. Fast facts Alex Höptner, BitMEX’s CEO, told Forkast.News in a […]

US Senate passes $1 trillion infrastructure bill with crypto tax requirements

Despite strong lobbying attempts from the crypto industry for last-minute amendments, the Biden administration’s US$1 trillion infrastructure bill passed the Senate last night with heightened tax reporting requirements for crypto “brokers” and possible ramifications for crypto miners, as Yahoo News reports. Fast facts A compromise amendment requiring unanimous consent to be added to the bill […]

HK artists embrace NFT’s; NFTs new top K-Pop merchandise

Hong Kong artists embrace NFTs. NFT’s to become must-have merchandise for K-Pop fans.  And an Indonesian resort offers NFT timeshares. We’ll have more on that story — and other news shaping the cryptocurrency and blockchain world — in this episode of The Daily Forkast, August 10th. Transcript Welcome to The Daily Forkast, August 10th 2021. […]

SEC seeks 1 million Slack messages from Ripple for XRP litigation

The US Securities and Exchange Commission wants to review ‘terabytes’ of Ripple’s Slack chats for evidence of XRP-related wrongdoing. How much is too much?

Hong Kong artists embrace NFTs as OpenSea trading volume explodes

Despite speculation that the NFT market is cooling, OpenSea continues to post record transaction volumes, and Hong Kong artists are getting in on the action.

Tencent blockchain applet IOU accused of breaking Chinese competition law

Chinese blockchain company RongxinChain has alleged that Tencent’s IOU applet is operating in breach of the country’s Unfair Competition Law, according to a report by the Shenzhen Baoan District Credit Promotion Association. Fast facts Tencent’s IOU blockchain applet went online in July on the company’s “super app,” Wechat, allowing users to issue legally valid IOUs […]

Ethereum investment product market share rises to 26% amid fund outflows

Despite a recent recovery in crypto prices, digital asset investment products last week saw outflows of US$26 million, according to CoinShares, Europe’s largest digital asset fund manager. It was the fifth consecutive week in which institutional money flowed out of cryptocurrencies, mainly Bitcoin. Fast facts Bitcoin — the largest cryptocurrency by market value — bore […]

USDC issuer Circle to become full-reserve digital currency bank

Amid a period of increasing regulatory interest in stablecoins, Circle, the digital payment company that issues USDC, the world’s second-largest stablecoin , has announced plans to become a full-reserve national digital currency bank in the U.S. Fast facts In a company blog post, CEO and co-founder Jeremy Allaire said the company was prepared to operate […]

Bitcoin’s price rises above $45K as gold and silver slump

After hovering aroud the US$35,000 mark through most of June and July, Bitcoin’s price has started rising again this past month. In the past 24 hours, Bitcoin’s price broke US$45,000 for the first time since mid-May amid the market-wide crash from the historic highs in April, according to data from CoinMarketCap. Fast facts Conversely, gold […]

Crypto platform Poloniex agrees to $10M settlement with SEC

Cryptocurrency platform Poloniex has agreed to pay more than US$10 million to settle charges for operating an unregistered online digital asset exchange, according to an announcement by the U.S. Securities and Exchange Commission (SEC). Fast facts According to the SEC’s order, Poloniex violated securities laws from July 2017 to November 2019 as the company did […]

Unocoin offers bitcoin vouchers; Alonzo upgrade onboards users

Unocoin offers bitcoin vouchers as Alonzo upgrade onboards users

Unocoin now allows Indians to buy pizza, coffee with Bitcoin

Several cryptocurrency payment methods exist around the world, but new service is the first major one of its kind in India.

Crypto miners set to be snared by U.S. infrastructure bill

A landmark US$1 trillion infrastructure bill moved one step closer to becoming law on Sunday, notably without carve-outs for cryptocurrency miners and network validators. What does it mean for the industry?

Crypto exchange Zipmex in Asia-Pacific tie-up with Visa

Singapore-headquartered cryptocurrency exchange Zipmex has announced that it has struck a cooperation agreement with Visa. Fast facts The exchange’s payment network, ZipSend, will be integrated into Visa’s global merchant network. Visa will also cooperate with another 50 cryptocurrency platforms. Zipmex plans to launch Visa-branded payment cards later this year. In July, Visa said that its […]

Cardano’s Alonzo Purple testnet begins onboarding users

Cardano’s much-anticipated Alonzo Purple upgrade has begun onboarding users to its testnet, according to a 12-part Twitter thread by developer Input Output Hong Kong. Fast facts Alonzo Purple is the third and final stage of the Alonzo upgrade, following Blue and White, and when complete will be the first fully public Cardano testnet to support […]

What is the regulatory outlook for virtual asset exchanges in Hong Kong and Singapore?

Singapore and Hong Kong are at the forefront of regulations over crypto exchanges, writes Vince Turcotte of Eventus Systems. Here’s why trade surveillance and risk management will be critical.

Are DAOs a new way for companies to go public?

As more crypto companies go public, some are returning to a decentralized business model. ShapeShift CEO Erik Voorhees explains the ethos and reasons why.

Binance bans derivatives in Hong Kong: Ethereum fork boosts trading

Binance bans derivatives in Hong Kong while Ethereum fork boosts trading

Latest digital yuan trial launches with backing of JD.com, Bank of Communications

E-commerce company’s tie-up with government-owned lender suggests hybrid private-state future for central bank digital currency.

Cambodian state digital currency sees strong uptake

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 winds down derivatives trading in Hong Kong

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 […]

Ripple expands XRP into NFTs amid escalating legal battles

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 Olympic medalists to get free cryptocurrencies

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 […]

New York Times article explores underbelly of memecoins

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 […]

Ether price and trading volume surging as Ethereum upgrade goes live

Ethereum’s London hard fork sees a smooth launch as the crypto market sends Ether’s price soaring.

Venezuela launches CBDC amid runaway inflation and currency redenomination

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; Google allows crypto advertising

China continues e-CNY pilot also Google allows crypto advertising

Ethereum rising: 3 reasons why Ether’s price could soon break $3,000

Will Google greenlighting US crypto ads, Ethereum’s London upgrade and clearer regulations pave the way for another Ether price rally?

Google lifts crypto advertising ban

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 starts machine learning trials with Fetch.ai using AI, blockchain

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 expands to Kazakhstan with new crypto mining joint venture

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 Bank’s digital exchange assets surge 60% in Q2

DBS eyes bigger investor base as digital assets under custody top US$100 million.

Binance partners with Shopify and others to offer crypto payments online

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 […]

Could Ethereum’s upgrade affect miners’ manipulations for extra profits?

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; India launches e-RUPI voucher

Ethereum upgrade closely watched also India launches e-RUPI voucher

Taxing times for crypto. Ethereum hard fork takes knife to fees. Tencent bets on NFTs.

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.

Canaan grows crypto rig sales as Chinese miners tool up abroad

North America emerges as hardware demand hotspot amid Beijing’s regulatory onslaught against cryptocurrency sector.

Ethereum prices hit resistance as major London Upgrade looms

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 suffers a new 51% attack

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 […]