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China’s Fuzhou City on Friday unveiled a raft of policies to attract investment by blockchain-related companies, including rent subsidies and cash awards.

Regulatory hurdles have once again hit Binance in North America, with the world’s largest cryptocurrency exchange announcing on Friday that it would cease operations in Canada due to tightened crypto rules.

Bitcoin prices rose on Monday morning in Asia to above US$27,000. Ether managed to rise above the US$1,800 support level as Litecoin leads gainers.

While the community might be small, there’s a growing buzz around Web3 in Japan, with overseas companies now taking note. For clues on how to make it big in the land of the rising sun, follow the lead of the nation’s largest firms, says Sebastien Guillemot, co-founder of Paima Studios.

Bitcoin briefly fell to US$26,166 this week, as BRC-20 memecoins flooded the blockchain, raising network congestion issues. Market analysts told Forkast that a weekly close under US$26,111 signals more bearish momentum

Bitcoin and Ether fell during Friday afternoon trading in Asia, along with most of the top 10 non-stablecoin cryptocurrencies by market capitalization, apart from the XRP token.

Binance.US is reportedly exploring ways to cut founder Changpeng Zhao’s ownership stake in the company, The Information reported on Thursday, citing two sources familiar with the matter.

Japan was an early believer in blockchain and cryptocurrencies until exchange hacks brought a crackdown. But that was then. Now the government has become a crypto cheerleader.

Bitcoin prices slid under US$27,000 on Friday morning in Asia. Ether fell below support at US$1,800 as all top 10 non-stablecoin tokens retreated.

Terraform Labs chief Do Kwon denied charges of attempting to travel with fake travel documents during a court hearing Thursday in Montenegro.

Top blockchain and crypto news: Memecoin fever strains BTC network. Binance slams brakes on Bitcoin withdrawals. Chinese court allows crypto for repaying debt.

Bitcoin network faces heightened congestion with over 5 million inscriptions, exacerbating block space demand as BRC-20 tokens achieve a market cap milestone of $1 billion, contributing to increased activity on the network.

Bitcoin and Ether fell during Thursday afternoon trading in Asia, along with most of the top 10 non-stablecoin cryptocurrencies by market capitalization, with Polygon’s Matic leading losses for a second consecutive session.

Welcome to The Daily Forkast – May 11, 2023 – presented by Jeff Cheung for the latest in the crypto markets. Bitcoin saw a minor spike in it’s price after the U.S. consumer price index for April was released, but dipped again as crypto exchanges Jane Street Group and Jump Crypto announced it would cease […]

China’s national blockchain research center was launched in Beijing on Wednesday and plans to train over 500,000 blockchain professionals for the country.

Bitcoin fell on Thursday morning in Asia to trade around the US$27,500 mark. Ether led the losers in the top 10 non-stablecoin cryptocurrencies.

Bitcoin and major cryptocurrencies reacted positively to the latest CPI report that stated annual inflation in the U.S. rose 4.9% in April, beating market expectations.

Bitcoin lost 0.43% while Ether dipped 0.60% in 24 hours. Polygon’s Matic token was the biggest loser and dropped 2.16%.

Cryptocurrency firms moving to Hong Kong should expect tight regulations as part of the city-state’s new regulatory regime, said Eddie Yue.

A South Korean court has approved prosecutors’ request to freeze assets and properties worth 233.3 billion Korean won that belong to Kwon.

Daily transactions on the Litecoin blockchain hit all-time highs over the past two days amid the Bitcoin network’s congestion and higher transaction fees, Glassnode data showed.

It’s currently fashionable to publicly knock blockchain gaming, but behind closed doors, a growing number of developers are realizing its potential, writes Tim Dierckxsens of Venly.

Bitcoin edged higher on Wednesday morning in Asia to hold above the US$27,500 mark. Ether also gained. Other top 10 non-stablecoin tokens traded mixed.

Bitcoin dropped 1.25% and Ether fell 0.25% in Tuesday afternoon trade in Asia. All other top 10 non-stablecoin cryptocurrencies also dropped.

Skyrocketing activity has led to a surge in average Bitcoin transaction fees — which rose to US$31.15 as of March 8 — exerting increasing pressure on users in low- and middle- income economies including Bitcoin-reliant communities in El Salvador, the first country to implement mass adoption of the digital currency.

Bitcoin fell below US$28,000 on Tuesday morning in Asia as memecoin hype clogged the network and drove up transaction fees. Ether and all other top 10 non-stablecoin tokens dropped.

U.S. crypto exchange Bittrex Inc. has filed for bankruptcy just days after closing operations following an SEC lawsuit and citing unclear crypto laws.

Bitcoin, Ether fell in Monday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Polkadot and XRP led the losers in that list.

Cryptocurrencies in China can be legally used to settle basic relations debts such as exchange and labor, according to the Supreme People’s Court of China.

The prosecutor leading Korea’s investigation into the Terra-Luna project said its founder Do Kwon should be extradited to Seoul to face trial.

Binance resumed withdrawals of Bitcoin around Monday noon in Hong Kong after temporarily halting the service twice within 12 hours due to what the world’s largest cryptocurrency exchange said was a “large volume of pending transactions.”

Bitcoin fell in Monday morning trading in Asia after failing to breach the US$30,000 ceiling over the weekend. Ether dropped below the US$1,900 mark.

Bitcoin inched above US$29,000 on Friday, as concerns over the health of the banking system have been reignited. Industry experts tell Forkast that banking troubles could fuel Bitcoin values, which face significant resistance above US$29,500.

Bitcoin rose while Ether fell in Thursday afternoon trade in Asia, with declines across most of the other top 10 non-stablecoin cryptocurrencies by market capitalization. Solana’s SOL token was the biggest loser of the day.

Kenya plans to impose a 3% tax on the transfer of digital assets for the coming budget year

Henan Cultural Tourism Investment Group, a state-owned investment enterprise in Central China’s Henan province, has set up a 150 million yuan private equity investment fund to finance metaverse ventures.

Many tokenized platforms have grave shortcomings, but if better standards could be adopted, the improved transparency can avert future crises, writes Ralf Kubli of the Casper Assn.

Bitcoin dipped below US$29,000 in Friday morning trading in Asia as rate hikes in Europe sent uncertainty to investors. Ether fell below US$1,900.

Binance says it works closely with law enforcement to freeze funds and the news agency’s report left out “critical facts.”

Top blockchain and crypto news: JPMorgan swoops as another bank falls. NFT market rivalry heats up. Bitget seeks Hong Kong exchange license.

Bitcoin and Ether rose in Thursday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Cardano’s ADA token saw the day’s biggest gains.

Bitcoin and Ether rose in early Thursday morning trading in Asia, with most other top 10 non-stablecoin cryptocurrencies mixed.

Bitcoin, the largest cryptocurrency by market capitalization, dropped 0.48% on Thursday, Hong Kong time, after the Federal Reserve’s Federal Open Market Committee said it would raise interest rates by 25 basis points, as widely expected. The latest rate bump brings the target range to 5%-5.25%, the highest since September 2007. See related story: Bitcoin, Ether, […]

Bitcoin gained 2.18% in 24 hours while Ether rose 1.67%.

Singapore-headquartered cryptocurrency miner Bitdeer Technologies is planning to expand its mining operations to Bhutan and raise up to US$500 million for a fund through a new partnership with the Himalayan kingdom’s state-owned investment company Druk Holding and Investments.

Coinbase, the publicly listed largest cryptocurrency exchange in the U.S., opened its offshore derivatives exchange in Bermuda on Tuesday.

The administration of U.S. President Joe Biden is campaigning for a tax on cryptocurrency miners equal to 30% of the cost of the power they use, citing what it calls “negative spillovers” from the industry.

Bitcoin and Ether gained ground in Wednesday morning trading in Asia, with most other top 10 tokens mixed. Litecoin gained, BNB was the biggest loser.

Now that the Bitcoin Ordinals genie is out of the bottle, a debate is raging about whether they’re good for the original blockchain and their long-term consequences.

Temasek, Singapore’s state-owned investment firm, has denied that it had invested in Array, an algorithmic cryptocurrency developer.

Bitcoin dropped 2.09% in Tuesday afternoon trade in Asia while Ether lost 0.81%. BNB fell 2.93% and Polkadot declined 2.66%.

Sotheby’s, which accounts for 24% of global art auction sales, has launched an online secondary marketplace for its curated NFTs as the 279-year-old auction house for fine art expands its push into digital assets.

Bitcoin dipped to US$28,000 in Tuesday morning trading in Asia and then fell through that support line later in the morning. Ether and other top 10 cryptocurrencies also fell.

CFTC and SEC disagree over whether cryptocurrencies are securities, and two big lawsuits clouding the industry’s future invoke laws that long predate the digital era.

Seychelles-based cryptocurrency exchange Bitget expects more clarity on Hong Kong’s licensing regime from June as the city pushes ahead with plans to attract blockchain and cryptocurrency entrepreneurs.

Bitcoin dropped below US$29,000, while Ether fell below US$1,900 on Monday afternoon in Asia. Binance’s BNB was the only token in the top 10 cryptocurrencies to rise.

How would layer 3 improve upon what layer-2 protocols do, and what barriers does this emerging technology still need to overcome? Tony Cheng of Foresight Ventures explains.

Bitcoin edged up on Monday morning in Asia to hold above US$29,000. Ether fell below US$1,900. Most other top 10 non-stablecoin tokens traded lower except BNB.

Coinbase said the Securities and Exchange Commission seems to be undermining its own role as the monitor of companies registering to sell shares to the public

Bitcoin rebounded from US$27,000 multiple times this week. Uncertainty over U.S. regulation and geopolitical tensions may continue weighing on the crypto market, industry experts told Forkast.

Bitcoin and Ether rose during Asian trading hours on Friday, while the top 10 non-stablecoin cryptocurrencies by market capitalization closed mixed. The SOL token saw the biggest gain. Asian equity markets strengthened after the Chinese central bank boosted short-term cash injections for the 11th day.

Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority, urged local lenders to provide banking services to regulated crypto firms.

Binance said it has more than 700 employees in its compliance team, which includes 170 staff working to combat crypto fraud.

Bitcoin rose on Friday morning in Asia amid worries about U.S. banks and a possible recession. Ether edged lower. along with most other top 10 tokens.

The current US approach to regulating crypto flies against its history of supporting tech innovation and undermines its own national interest, writes Hamilton Keats of Krayon Digital.

Google Cloud has announced that its node hosting service, the Blockchain Node Engine, will be available for developers on the Polygon blockchain. 

Top blockchain and crypto news: Coinbase in court to force SEC’s hand. PEPE surge lifts memecoin mood. China paves CBDC path with payroll.

Bitcoin and Ether rose during Asian trading hours on Thursday, while most top 10 non-stablecoin cryptocurrencies by market capitalization declined. Cardano’s ADA token saw the biggest gain.

Hong Kong’s Web3 industry can look forward to more regulatory clarity, with the city set to release its cryptocurrency exchange licensing framework in May

New York-based investment bank H.C. Wainwright has initiated a “buy” rating on publicly traded Coinbase Global Inc., the largest cryptocurrency exchange in the U.S., saying the company is poised to benefit from growth in the global digital asset economy as the so-called “crypto winter” of falling prices is over.

Bitcoin rose above US$29,000 on Thursday morning in Asia, rebounding from an earlier drop. Ether gained. Other top 10 non-stablecoin tokens traded mixed.

The lack of clarity in crypto rules in the U.S. not only affects exchanges but also this U.S.-based blockchain gaming company, John Linden said.