Bitcoin, Ether extend gains as U.S. regulators take charge of banking industry turmoil
Bitcoin and Ether rose the most in the top 10 non-stablecoin cryptocurrencies by market capitalization on Tuesday afternoon in Asia. Cryptocurrencies have been on a rebound since U.S. regulators took charge of the failures in the banking industry and moved to protect deposits across crypto-linked banks.
China regulator says NFT-related complaints skyrocketed in 2022
Amid the NFT hype in 2022, Chinese buyers’ complaints about NFT scams and price manipulations surged 30,000% to 59,700 from 198 in the year before.
FBI investigating the collapse of Do Kwon’s Terra-Luna, WSJ reports
Former employees of Do Kwon’s Terraform Labs are being questioned by the FBI and U.S. prosecutors in New York.
Bitcoin jumps above US$24,000, leading crypto gains as U.S. acts to backstop banks
Bitcoin continued to gain in morning trading in Asia, as regulators acted to backstop the U.S. banking industry. Most of the top 10 cryptocurrencies gained.
Banks are bringing systemic risks to crypto, says Circle’s Disparte
The recent U.S. bank failures are proof that the banking system is introducing systemic risks to the crypto industry, not vice versa, says Circle chief strategy officer Dante Disparte.
Bitcoin, Ether gain after U.S. regulators take charge to shield deposits across crypto-related banks
Bitcoin and Ether gained in Monday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization, after U.S. regulators took charge of Silicon Valley Bank and Signature Bank, both with exposure to crypto industry, protecting deposits and confirming that no losses will be borne by the taxpayer.
Beware the perils of one-size-fits-all approach to crypto investing
The collapse of Voyager and Celsius highlights the risks of crypto investing apps and underscores the need for tailored user education, writes Jackson Zeng of Caleb & Brown.
Circle says US$3.3 bln USDC reserve at SVB available Monday, announces partnership with Cross River
Circle said the USDC reserve deposits held at the failed Silicon Valley Bank will be recovered when banks open on Monday.
Circle’s USDC stablecoin regains parity as regulators act to stop bank run risk
Circle said its $3.3 billion of USDC cash reserves at the collapsed Silicon Valley Bank will be available Monday after regulators stepped in to backstop deposits.
U.S. regulators shutter Signature Bank, lender to Paxos, Coinbase, citing systemic risk
U.S. regulators closed New York-based Signature Bank, one of the biggest lenders in the crypto industry, due to risks of a systemic failure.
Weekly Market Wrap: Bitcoin falls below US$20,000 as Silvergate collapse, rate hike concerns rise
Bitcoin fell below US$20,000 for the first time since Jan. 13 on the back of crypto bank Silvergate’s collapse and the U.S. Fed signaling higher than expected interest rate hikes.
Bet on the Black? Take a punt on the Red? Or maybe put it all down on an NFT?
Savvy traders are quick to extract liquidity to reinvest into the “slot machines” of the NFT casino, according to CryptoSlam’s NFT strategist.
New York attorney general sues KuCoin for ‘falsely representing itself as an exchange’
The NY State Attorney General is suing crypto exchange Kucoin for not registering as a securities and commodities broker-dealer and calling itself an exchange.
Biden administration proposes 30% crypto mining tax, closing wash-trading loopholes
The U.S. has proposed an excise tax on cryptocurrency miners equal to 30 percent of the cost of the electricity they use.
Bitcoin, Ether slump in broad sell-off amid Fed red flags on rates, Silvergate Bank failure
Bitcoin and other leading cryptocurrencies slid Friday morning in Asia, tracking equities amid red flags on interest rates and concern about fallout from the Silvergate collapse.
Why global coordination on crypto regulation is paramount
In the race to tame crypto’s excesses, we need to avoid regulatory clashes while DeFi draws lessons from TradFi, writes Rachel Lin of SynFutures.
Most of NFT industry working on recycled liquidity, says Forkast Labs’ co-founder
NFT sales and market capitalization show rising investor activities, but recycled liquidity and wash trading may tell a different story, Forkast Labs co-CEO says.
CFTC chair calls Ethereum a commodity, in contrast to SEC chair Gensler’s position
CFTC chair Rostin Behnam has called Ethereum a commodity and not a security, in apparent contrast to past statements from SEC Chairman Gary Gensler.
Bitcoin, Ether fall amid interest rate hike fears, Silvergate liquidation; Forkast NFT 500 index slips 0.79%
Bitcoin and Ether fell in evening trading in Asia Thursday, with XRP the sole gainer in 24 hours among the top 10 non-stablecoin cryptocurrencies by market cap.
Crypto mining rig maker Canaan shares slump after Q4 revenue sank 82%
Canaan’s shares on Nasdaq closed 3.83% lower at US$2.51 on Wednesday after the cryptocurrency mining rig maker reported an 82% year-on-year drop in revenue on Tuesday for the fourth quarter of last year, citing “lackluster market demand” for mining machines as the price of Bitcoin fell.
Crypto bank Silvergate to close, return all deposits; becomes latest victim of 2022 crypto turmoil
Silvergate Capital said Wednesday it will cease operations and liquidate its bank unit.
Bitcoin crashes through US$22,000 floor as failure of Silvergate crypto bank hits market
The shuttering of Silvergate Bank was not unexpected, but it still drove Bitcoin and most of the top 10 non-stablecoin cryptocurrencies lower on Thursday morning in Asia.
Thailand to offer tax breaks to firms issuing investment tokens
The Thai Finance Ministry will waive corporate income tax and value-added tax for firms that conduct initial coin offerings (ICOs), according to a spokesperson.
Silvergate teeters as regulators circle and crypto firms cut ties
Top blockchain and crypto news: Silvergate woes spark bankruptcy talk. LDO dips on false enforcement rumors. Chinese leaders push digital development.
Bitcoin, Ether fall amid U.S. Fed chair warning of more interest rate hikes; Forkast NFT 500 index slips 0.65%
Bitcoin and Ether fell in afternoon trading in Asia on Wednesday, with XRP the sole gainer among the top 10 non-stablecoin cryptocurrencies by market cap.
Fed’s Powell says stablecoins could have role in financial sector if properly regulated
Stablecoins could have a place in the U.S. financial services sector if appropriate regulation is put in place, Federal Reserve Chairman Jerome Powell said on Tuesday at a hearing before Congress.
Bitcoin dips, Ether little changed, with top 10 crypto mixed following U.S. equity slump
Bitcoin and other major cryptocurrencies traded mixed on Wednesday morning in Asia, largely shrugging off the slump in U.S. equities overnight.
SEC shuts Miami hedge fund for alleged ties to US$100 mln crypto fraud
The SEC announced emergency action against crypto hedge fund BKCoin and co-founder Kevin Kang in connection with an alleged fraud scheme.
FTX’s Alameda sues Grayscale over crypto trusts
Alameda Research has filed a law suit against crypto conglomerate Digital Currency Group and its asset management business Grayscale over trust investments.
Bitcoin, Ether inch up as investors await U.S. Fed chair’s comments; Forkast NFT 500 index dips 0.44%
Bitcoin and Ether gained in Tuesday afternoon trade in Asia, along with most other top 10 non-stablecoin cryptocurrencies. Polygon’s Matic token led gains followed by XRP and Dogecoin.
Hong Kong’s crypto scam losses in 2022 more than double from 2021: SCMP
Crypto scams accounted for over half of Hong Kong’s losses from computer-related crimes in 2022.
South Korea reports US$4.3 billion in illegal foreign transactions involving cryptocurrencies
The Korea Customs Service has identified US$4.3 billion worth of illegal foreign currency transactions last year involving cryptocurrencies.
Bitcoin, Ether little-changed in downtrend day; Forkast NFT 500 index dips
Bitcoin and Ether traded mostly flat in a downtrend move for most of the top 10 cryptocurrencies in Tuesday morning in Asia. The new Forkast NFT 500 index slipped.
Kraken to launch U.S. crypto bank amid regulatory headwinds
U.S.-based cryptocurrency exchange Kraken is working on establishing its own bank, despite the recent regulatory headwinds
Singapore police begin probe linked to Do Kwon’s Terraform Labs: Bloomberg
Singapore’s police have begun investigations linked to Terraform Labs that was co-founded by fugitive Do Kwon, according to a Bloomberg report.
Bitcoin ATM firm accused of profiting from crypto scams via unlicensed machines: U.S. Secret Service
A crypto tech firm and three of its executives have been indicted for allegedly operating unlicensed Bitcoin ATMs in the U.S. that profited from scams.
Bitcoin gains, all other top 10 cryptos in the red amid Silvergate fallout
Bitcoin gained in Monday afternoon trade in Asia while all other top 10 non-stablecoin cryptocurrencies by market capitalization posted losses.
Binance documents show ties to U.S. unit unknown to regulators, WSJ reports
Binance, the world’s largest cryptocurrency exchange, reportedly didn’t disclose the extent of its ties and control over Binance.US, WSJ reported.
Bybit suspends U.S. dollar bank transfers, possible link to Silvergate shuttering crypto banking network
Bybit suspended U.S. dollar deposits and withdrawals via wire and bank transfers due to “service outages from a partner.”
Weekly Market Wrap: Bulls fight to keep Bitcoin above US$22,300, as industry experts predict ‘crab walk’
With 69% of Bitcoin supply in profit, BTC is struggling to stay above the US$22,300 support level. A daily close below US$22,300 could see Bitcoin retest the US$21,450 support level. Industry experts share their end-of-March Bitcoin price predictions with Forkast.
Bitcoin, Ether fall; Litecoin is biggest loser of day
Bitcoin and Ether fell by the end of Asian trading hours on Friday afternoon, together with all other top 10 non-stablecoin cryptocurrencies by market capitalization, weighed by the financial woes of crypto-focused bank Silvergate.
Weekly NFT sales drop, unique buyers surge amid Coinbase’s new NFT airdrop
The number of unique buyers rose to an all-time high this week after crypto exchange Coinbase dropped free NFTs to celebrate the launch of its new Layer 2 network Base.
Where is China’s digital economy heading? The ‘Two Sessions’ may give some pointers
Look for blockchain, self-reliance in technology discussions in China’s biggest political meetings of the year as China’s President Xi Jinping’s aims to build a digital economy.
Circle joins Crypto.com, Coinbase in cutting ties with embattled crypto bank Silvergate
USDC issuer Circle said Friday that it is withdrawing from “certain services that involve” California-based cryptocurrency bank Silvergate.
Why DAO governance is riddled with problems and voting is a farce
DAOs are supposed to be democratic, egalitarian and inclusive, but those ideals are far from the current reality, writes Awa Sun Yin of Namada.
Bitcoin falls below US$23,000, Ether slides in crypto price slump across the board
Bitcoin and Ether prices slumped in Friday morning trading in Asia, along with all other top 10 non-stablecoin cryptocurrencies.
Bitcoin, Ether fall along with most top 10 cryptos amid potential for larger interest rate hikes
Bitcoin and Ether fell during Asian trading hours on Thursday, along with all top 10 non-stablecoin cryptocurrencies by market capitalization.
Bitcoin, Ether rise; Polygon leads rebound in top 10 non-stablecoin cryptocurrencies
Bitcoin and Ether rose in Thursday morning trading in Asia, along with all top 10 non-stablecoin cryptocurrencies. Polygon led the gains.
Singapore’s DDEx eyes security token offerings, mulls adding more cryptocurrencies
DBS bank’s digital exchange, which serves institutional clients, said macroeconomic conditions last year were not suitable for security token offerings (STO), but it will explore opportunities for such listings in 2023 and plans to add more crypto tokens.
Creation of U.S. digital dollar would ‘crowd out’ crypto: ex-Biden adviser
A U.S. central bank digital currency would “crowd out” the cryptocurrency ecosystem and protect national security, according to an ex-top presidential adviser.
Blur NFT wash trading soars, fueling market distortions
Top blockchain and crypto news: Blur wash trading explodes. Coinbase extends developer foray with Base test. Hong Kong crypto embrace gets Beijing’s nod.
Visa not slowing down with crypto plans, says its crypto chief
American payments giant Visa is not slowing down its cryptocurrency plans despite last year’s bear market, according to the firm’s crypto head Cuy Sheffield.
Bitcoin, Ether rise along with most top 10 cryptos, amid ‘bull trap’ warning
Bitcoin and Ether gained in Wednesday afternoon trading in Asia, along with most other top 10 non-stablecoin cryptocurrencies by market capitalization. Asian equities mostly rose on Wednesday as investors digested economic recovery indications as Hong Kong ended its mask mandate.
Former executive Nishad Singh pleads guilty to criminal charges in FTX collapse
Nishad Singh, former engineering chief of bankrupt cryptocurrency exchange FTX, pleaded guilty to fraud and several other criminal charges at a hearing on Tuesday related to the collapse of the company, Bloomberg reported.
Bitcoin’s price gains this year bring needed relief to cash-strapped crypto mining industry
Officials at Bitcoin mining companies say the rebound in prices so far this year for the world’s biggest cryptocurrency has thrown a lifeline to the industry after some miners sought protection from creditors last year amid the slump in the token’s price.
Yuga Labs to launch its first Bitcoin-based NFTs TwelveFold
Yuga Labs announced that it will launch TwelveFold later this week, its first NFT collection on the Bitcoin network.
Bitcoin, Ether prices fall; Solana biggest loser in top 10 cryptos
Bitcoin and Ether fell in Tuesday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization, despite U.S. equities rising on Monday after last week’s selloff. Asian stock markets mostly rose on Tuesday as investors absorbed key economic indicators across the region.
Coinbase exchange to delist Binance USD, says stablecoin ‘no longer met our listing standards’
Coinbase, the world’s second largest cryptocurrency exchange, said Monday it is suspending trade in the Binance USD (BUSD) as of March 13.
BitFlyer founder eyes CEO comeback, share sale amid boardroom conflicts: Bloomberg
Yuzo Kano, co-founder of Japan’s largest cryptocurrency exchange bitFlyer Inc., said he plans to return as CEO, sell shares to public.
Markets: Bitcoin, Ether gain; Polygon, XRP biggest losers
Bitcoin and Ethereum rose in Monday afternoon trade in Asia along with most of the top 10 non-stablecoin cryptocurrencies by market capitalization. Asian markets dropped on Monday, following last Friday’s Wall Street selloff, as investors brace for more interest rate hikes in the U.S. due to persistently high inflation.
Janet Yellen urges strong regulatory framework for crypto as India leads G20 push for regulation
U.S. Treasury Secretary Janet Yellen told Reuters after the G20 meeting in India on Saturday that while the U.S. has not indicated any outright bans, it is critical to put in place a strong regulatory framework for the cryptocurrency industry.
Asia’s Opportunity to Lead Crypto Regulations
Crypto industry’s interaction with regulators is important and quite common in Asia but missing in the US, says Brooks Entwistle of Ripple Labs.
At least US$577 million of Blur-linked NFT sales are wash trades, CryptoSlam says
NFT data aggregator Cryptoslam has flagged more than half a billion dollars worth of NFT wash trades related to Blur since the marketplace’s Valentines airdrops started
Weekly Market Wrap: Bitcoin lingers at US$24,000 level after Wall Street’s worst day in 2023 so far
Bitcoin remained resilient around the US$24,000 level on Tuesday despite Wall Street’s worst day of the year so far. Industry experts are eyeing a potential retest of the US$25,000 psychological level, as a failure to reclaim it may result in a downtrend to around US$21,500.
FTX founder Sam Bankman-Fried hit with four more criminal charges
The founder of bankrupt cryptocurrency firm FTX.com Sam Bankman-Fried (SBF) has received another four criminal charges in a superseding indictment on Thursday.
Markets: Bitcoin, Ether fall along with all top 10 cryptos as investors await consumption index
Bitcoin and Ether fell during Asian trading hours on Friday, along with all the top 10 non-stablecoin cryptocurrencies by market capitalization. Most Asian equities were down, despite Wall Street’s overnight performance.
Weekly NFT sales surge amid marketplace Blur’s new round of token airdrop
NFT sales more than doubled this week, with NFT marketplace Blur remaining the talk of the town.
IMF releases crypto action plan, advises against legal tender status
World governments should not grant cryptocurrency legal tender status, the International Monetary Fund’s (IMF) executive board said in its new nine-point action plan on how countries should approach crypto assets published Thursday. See related article: India working with IMF, FSB on crypto regulations, says economic affairs secretary Fast facts See related article: India’s finance minister […]
Why crypto offers great career opportunities for talented women
The blockchain sector’s gender divide is narrowing. Its newness and founding ideals also allow for more flexible workplaces, writes Anastasia Kor of Choise.com.
SEC accused of ‘back door’ labeling of crypto as securities in Coinbase insider trading case
A U.S.-based blockchain advocacy group has urged a federal court to dismiss SEC charges against an ex-Coinbase employee accused of insider trading.