Cardano rebounds 15% as Alonzo smart contact testnet launches
Following the launch of Cardano’s first testnet for its smart contract platform, Alonzo, ADA’s price rebounded by 15% on Monday morning to reach US$1.65.
Bitcoin mining difficulty drops 16% amid Chinese regulatory headwinds
The latest Bitcoin mining difficulty adjustment, made at 1 a.m. UTC on May 30, saw the difficulty of Bitcoin mining drop 15.97%.
Turkey’s crypto clampdown underwhelms as investors claim ‘business as usual’
Turkish regulators have tightened their grip on cryptocurrencies, but small traders and investors appear to have barely noticed.
Crypto crimes surge in Asia; Bitcoin cause for divorce in S. Korea | The Daily Forkast
Crypto crime is surging in Asia while Bitcoin is being blamed for splitting up married couples in South Korea.
How FTX CEO Sam Bankman-Fried navigates crypto trading’s new normal
From mass liquidations to meme trading, the characteristics unique to the crypto market can now be seen in traditional markets, says FTX CEO Sam Bankman-Fried.
Are 73 SEC actions against crypto enough warning to Ripple about XRP?
SEC says Ripple had plenty of ‘notice’ that XRP transactions could be violating the law via its many enforcement actions against other crypto companies.
Cardano launches first Alonzo smart-contract testnet
Input Output Hong Kong, one of the companies behind the Cardano blockchain, today announced the launch of the first testnet for Cardano’s Alonzo upgrade.
Bridging the DeFi data gap with indexing blockchain data
Blockchain technology has massive data requirements, but the data can be difficult and costly to access. What are some of the solutions?
Hong Kong crypto exchanges seek to wash hands of dirty power problem
Hong Kong-based cryptocurrency exchange Crypto.com has announced that it is committed to becoming carbon-negative within 18 months, following carbon-neutral initiatives launched by other Hong Kong-based cryptocurrency exchanges FTX and BitMEX.
Chinese province’s hydropower gives hope to crypto miners following crackdown elsewhere
Energy regulators in the southwestern Chinese province of Sichuan, which has abundant hydropower resources, will hold a seminar on June 2 to assess the province’s cryptocurrency mining industry, fanning hopes among miners that the beleaguered sector may be given a reprieve from its recent hardships in China.
U.S. securities watchdog looks to regulate crypto trading like stock exchanges
Gary Gensler, chairman of the U.S. Securities and Exchange Commission, has said he wants to see regulation to protect consumers built into the operations of cryptocurrency exchanges.
Almost four in ten consumers have bought cryptocurrencies, study finds
Consumer adoption of cryptocurrencies has grown, with 38% of respondents to a survey saying they have either invested in or bought a cryptocurrency, according to digital wallet provider Skrill, part of payments provider Paysafe.
Ethereum 2 to set green future; Koreans demand regulator steps down | The Daily Forkast
Vitalik Buterin sets a green future for the Ethereum network while Bitdeer becomes the latest to block Chinese miners.
Will China become the new digital currency superpower?
The U.S. dollar reigns supreme as the current world reserve currency. Could the USD’s status change with the rise of CBDCs like China’s DCEP digital yuan?
Tokenization to transform financial system, DBS Bank CEO says
The power of tokenization can fundamentally transform the fabric of the financial system, Singapore’s DBS Bank CEO Piyush Gupta told the Consensus by CoinDesk 2021 conference taking place this week.
How Ripple found new ways to grow XRP business despite SEC lawsuit
Ripple’s CEO Brad Garlinghouse says Ripple was hit hard financially after SEC filed its lawsuit, but the company is now expanding uses for XRP’s technology.
Hong Kong treasury chief says new rules will boost crypto despite investment threshold
A proper regulatory system for cryptocurrencies and virtual assets can facilitate development, protect investors, and adhere to international regulatory standards, says treasury chief Christopher Hui
Vitalik Buterin speaks: What lies in the future of Ethereum?
Breaking into occasional Mandarin at a Hong Kong conference, Ethereum’s visionary creator tells all — including why Ethereum 2.0 is taking so long.
Crypto miner BitDeer blocks China users as Beijing gets tough on sector
BitDeer, one of China’s biggest crypto mining operators, blocked access to anyone using a mainland Chinese IP address last night.
PayPal to let users move their crypto into third-party wallets
Global payments giant PayPal plans to let its users move the cryptocurrency they hold on its platform into third-party wallets.
Digital currencies gain ground as governments launch CBDC initiatives
Cashless payment methods are on the rise as governments step up central bank digital currencies (CBDCs) initiatives.
Can Elon Musk shrink Bitcoin mining’s carbon footprint? PancakeBunny’s $200 million hack. Ray Dalio admits to owning crypto.
Other top blockchain and crypto news: Australia signals progressive approach to crypto as Hong Kong moves closer to banning retail crypto trading.
Crypto market rebound as investors go green; Indonesia plans CBDC | The Daily Forkast
Investors are turning to green alternatives to tackle Bitcoin’s impact on the environment as Indonesia gears up for a CBDC.
Polygon and Aleph.im partner to protect NFTs from disappearing
Fast-growing Ethereum scaling platform Polygon and decentralized storage network Aleph.im join forces to ‘supercharge’ Polygon’s NFT ecosystem.
Ripple partners with Oman’s Bank Dhofar for cross-border mobile payments
Ripple is partnering with Bank Dhofar, Oman’s second largest bank, to facilitate cross border mobile payments through RippleNet.
Ripple faces SEC request for further discovery over XRP transactions
The U.S. SEC is seeking additional discovery from Ripple on its XRP transactions and documents related to its lobbying efforts.
Crypto exchange Poloniex faces sanctions over alleged securities breaches
Ontario Securities Commission is taking enforcement action on crypto exchange Poloniex for its alleged violation of Ontario securities law.
Inner Mongolia takes steppes to tighten crypto mining ban
The Chinese region of Inner Mongolia – once a thriving cryptocurrency mining hub that has recently enacted a series of measures to rein in the sector – has unveiled eight new proposals designed to give added force to its recently imposed, all-out ban on crypto mining.
SpaceChain to send blockchain technology into orbit in Ethereum first
SpaceChain, a Singapore-based startup that focuses on the integration of blockchain with space technology, will be launching two missions to space next month to deploy decentralized satellite infrastructure and multi-signature services for its corporate customers.
China crypto crackdown fallout; Politician turns influencer in Korea | The Daily Forkast
China’s miners prepare for migration and Hong Kong reacts to possible retail ban. Meanwhile a South Korean governor becomes a crypto influencer.
China’s cryptocurrency mining sector becomes target of fresh clampdown
Chinese authorities’ latest regulatory offensive against the crypto industry may not be as bad for the sector as it appears.
Marathon to host 73,000 Bitcoin miners in Texas as Chinese exodus looms
Marathon Digital Holdings has announced a deal with Compute North to host 73,000 of Marathon’s Bitcoin miners at a new data center in Texas.
Bitcoin rallies as Elon Musk meets with miners in green energy push
Bitcoin has rallied to nearly US$40,000, boosted by tweets from Tesla founder Elon Musk and MicroStrategy CEO Michael Saylor announcing that they have met with North American miners of the cryptocurrency to promote a renewable energy initiative.
What will happen if Hong Kong bans retail investors from trading crypto?
Hong Kong is poised to ban small investors from buying cryptocurrencies, while making exchanges get licences. Industry experts discuss how this might play out.
What is the outlook for Bitcoin and Ethereum for the rest of 2021?
The current dip aside, what are Bitcoin and Ethereum’s longer-term price forecasts? Finder’s brain trust of 35 crypto experts peers into a crystal ball.
Bitcoin dominance rises to 45% as altcoins crash over China crypto crackdown
As the crypto sell-off continued over the weekend, Bitcoin once again proved its resilience relative to other cryptocurrencies in not bleeding as much.
Half of hedge funds are now investing in crypto, says PwC report
PwC and Elwood Asset Management have published their third annual report on the global crypto hedge fund landscape. Here are its findings.
Bitcoin price plunges and altcoins sell-off as crypto market decline intensifies
Bitcoin and altcoin prices take heavy hits and sell-off deepens as more bad news, including a blatant DeFi exit scam, continue battering crypto markets.
Bybit crypto derivatives exchange launches cloud mining for Ether
Crypto exchange Bybit is launching cloud mining to provide exposure to Ether. What happens when Ethereum moves from proof of work to proof of stake?
South Korea forges ahead on its digital currency development
Kicking the digital won’s development into higher gear, Bank of Korea is calling for bids to be a technology supplier for its digital currency (CBDC) project.
Hong Kong to close crypto exchanges to all but ‘professional investors’
Cryptocurrency exchanges in Hong Kong will have to obtain licenses from the territory’s markets regulator and limit their service offerings to “professional investors”, according to the results of a consultation published today.
How NFTs could trigger lawsuits and anti-money laundering regulation
Non-fungible tokens may be a boon for art and sports collectibles, but the technology is also spawning a host of thorny regulatory and legal issues.
Crypto market rebound; Sotheby’s next NFT auction eyes millennials | The Daily Forkast
The crypto market has rebounded after one of its biggest crashes. Bitcoin is a ‘safe haven’ for many investors.
Solana gets Coinbase listing after SOL prices surge amid crypto market crash
Coinbase Pro adds Solana’s native token, opening the doors for US investors after SOL outperforms Bitcoin and most other cryptos amid market crash.
Singapore’s DBS Bank says no investment discussion can omit Bitcoin
Diversification to allocate funds to Bitcoin is an “opportunity that (fiat) money cannot buy”, says DBS Bank’s chief investment officer.
Bank on change: DeFi’s challenge to traditional finance and fintech
As mainstream finance embraces decentralized finance, neither it nor its younger challengers are likely to escape the evolutionary forces at work.
U.S. SEC chair Gary Gensler says regulator will enforce crypto rules ‘aggressively and consistently’
U.S. SEC chair Gary Gensler says as technology and markets evolve, regulators should be ready to bring cases involving crypto.
What’s really behind the Bitcoin market crash? Tether USDT lifts veil on reserves. Facebook-backed Diem going to California.
Other top blockchain and cryptocurrency news: BlockFi’s accidental BTC millionaires. China’s Inner Mongolia asks citizens to report illegal crypto mining.
Crypto chaos continues; mass BTC liquidations in exchanges across Asia | The Daily Forkast
Mass liquidations are observed across exchanges as the crypto market continues to struggle. Meanwhile, institutions explore DeFi.
NEM’s Symbol blockchain launching NFT footballer collectibles
NEM Group is launching NFTs with former Liverpool footballer and manager Sir Kenny Dalglish and current Manchester City player Riyad Mahrez.
Chainlink joins Hedera council in push to link DeFi with traditional finance
Chainlink, a data oracle, has joined the Hedera Governing Council, which oversees the distributed governance of the Hedera network, an enterprise-grade public network for the decentralized economy.
China’s BIT Mining inks deal for U.S. data center joint venture
Chinese cryptocurrency miner BIT Mining has signed a deal to build a data center in Texas.
Rejecting traditional finance, some firms now turn to DeFi for growth capital
DeFi project Maple Finance is launching a $17 million lending pool to provide crypto startups with capital. Is this the start of a DeFi credit underwriting trend?
Bitcoin appears to stabilize after dramatic correction
The world’s biggest cryptocurrency may have found a new trading range after being battered yesterday following an apparent Chinese clampdown on cryptos, partly reversing losses of around 30% seen when investors dumped their coins on Wednesday.
Digital dollar’s values to fortify USD hegemony, says ex-CFTC chair
Former CFTC chairman Chris Giancarlo and Accenture’s David Treat are not in a CBDC race, but a ‘contest’ to develop money that reflects societal values.
Bitcoin drops below US$40,000; China sends another crypto warning | The Daily Forkast
China’s newest warning against crypto sends market into nosedive and Bitcoin dips below US$40,000 for the first time since February.
Bitcoin’s rollercoaster ride leaves market players unfazed as upside beckons
Professional crypto traders appear to be taking the recent plunge in the price of Bitcoin in their stride as they look ahead to an upswing in the cryptocurrency’s fortunes.
XRP whale moves coins worth US$93M to unknown wallet, price dips
XRP’s price has slumped almost 7% in the past 24 hours after a so-called whale transferred US$93 million of the cryptocurrency to an unknown wallet on May 18, according to blockchain analytics platform WhaleAlert.
China’s new crypto ban shouldn’t stoke fear, says Conflux network co-founder
Fan Long, a co-founder of Chinese public blockchain network Conflux, says China’s latest broadside against the use of cryptocurrencies in the financial sector should not be interpreted as a sign that Beijing is intent on shutting down digital currencies.
China shuts banks, finance firms out of cryptocurrency business
China has slapped a ban on finance sector businesses, including payment firms, from offering cryptocurrency services.
Will Singapore launch a people’s digital currency — and support DeFi?
As Singapore builds Project Dunbar, a cross-border multiple-CBDC platform, its government dives into DeFi learning and ponders a CBDC for the masses.
China Merchants Bank launches US$50M DeFi, dApp fund with Nervos
Privately owned Chinese lender continues to target blockchain opportunities as it remains shut out of Beijing’s digital yuan project.
Deutsche, STACS wrap up Singapore DLT test project for tokenized securities
Deutsche Bank Securities Services in Singapore and Singapore fintech firm Hashstacs, or STACS, today announced the completion of a tokenized securities proof-of-commercialization test named Project Benja.
What is Polkadot and why is it one of the hottest blockchains right now?
The final phase of Polkadot’s rollout — with parachains — just kicked off. Here’s what you need to know about Polkadot and parachains, and why it matters.
UAE study shows growing appetite for cryptocurrencies
The appetite in the United Arab Emirates for cryptocurrency investment is growing, with younger Emiratis more bullish about digital assets than their Western counterparts, according to a study by financial services firm Holborn Assets.
SEC and XRP holders face off anew over SEC’s lawsuit against Ripple
In a new court filing, SEC tries to keep out 6 representatives of 17,100 XRP holders from joining as 3rd party defendants in the SEC’s lawsuit against Ripple.
Ripple seeks to protect legal advice on XRP from disclosure to SEC
Ripple rebuts SEC’s attempt to obtain Ripple’s confidential communications with lawyers over XRP’s legal status and seeks to bolster ‘fair notice’ defense.
Audience fave ‘Charlie bit me’ video to be auctioned off as NFT
The home video that has been viewed more than 880 million times is set to be sold as NFT to highest bidder — and then deleted forevermore from YouTube.
Led by Cardano ADA, green cryptos rise as Bitcoin, wider market sinks
ADA price holds strong as investors shift to greener cryptocurrencies and Cardano smart contracts get set to launch blockchain into DeFi and NFTs.
Elon Musk Dogecoin tweet draws ire of crypto heavyweights
A tweet about Dogecoin by Tesla founder Elon Musk provoked a terse response from high-profile figures in the cryptocurrency industry on Sunday. Fast Facts: Musk responded to a tweet in which Twitter user @itsALLrisky claimed that Dogecoin was superior to Bitcoin, tweeting back: “Ideally, Doge speeds up block time 10X, increases block size 10X & drops […]
New York’s Bitcoin mining showdown sets stage for battles elsewhere
A dispute over a Bitcoin mine’s environmental impact leads to a push to ban crypto mines in New York state. Will other places follow Albany’s lead?
India’s demand for crypto ‘growing like crazy’ since ban attempt
It’s only a matter of time that digital currency ‘is going to overshadow all the other forms of money,’ says Neeraj Khandelwal of CoinDCX.