Why crypto remains niche and far from the mainstream
The crypto world is plagued by products that are hard to use and have little utility, writes Roman Kashcheev of Quantfury. What can turn things around?
Investigating ‘The Hackening’; Crypto market inflows up
Why are cross-chain bridges so attractive for hackers? Also, we take a deeper dive into how the market reacts to it.
Business as usual at India’s WazirX as Binance distances itself
Indian crypto exchange WazirX said its operations are being conducted as usual, even after Binance denied owning equity in Zanmai Labs, the entity operating WazirX. The spat over ownership — Binance had reportedly acquired WazirX in 2019 — surfaced after Indian authorities reportedly froze US$8 million in WazirX assets, alleging possible violation of foreign exchange laws. […]
Why Singapore may be the ideal place for companies to rebuild post-crypto winter
Singapore is growing its digital assets industry while reducing risks, and its clear regulations allow firms to better plan for the future, writes Desmond Yong of DTC.
Markets: Bitcoin, Ethereum rise in broad gains; Solana jumps; BNB adds to surge
Bitcoin and Ethereum rose in broad-based gains in cryptocurrencies that drove all other tokens higher in the top 10 list by market capitalization in afternoon trading in Asia on Monday. See related article: Bitcoin, Ethereum edge up; BNB rises; Avalanche adds to gains on partnerships Fast facts Bitcoin, the world’s largest cryptocurrency, added 3.3% in […]
Bitget offers ‘protection fund’ to users as emergency insurance
Singapore-based cryptocurrency exchange Bitget says it has launched a US$200 million “protection fund” to act as an “emergency insurance reserve” to protect user funds when their losses are not a consequence of their own actions or behavior on the platform. See related article: How the crypto winter is laying groundwork for Web3 to reach its […]
Polygon cofounder says bear market is an opportunity for blockchain builders
The current bear market is an opportunity for blockchain developers to focus on building while there is no “noise,” Polygon cofounder Sandeep Nailwal said during a panel at Korea Blockchain Week 2022 on Monday. See related article: MATIC crypto skyrockets as Polygon joins Disney accelerator Fast facts “In the bear market, the best part is […]
Welcome to Web3, (hopefully) not a bigger monster than its version 2 sibling
How does a centralized internet browser plan for a decentralized future? Reinvention, and finding a receptive audience. First stop, Southeast Asia.
North Korea’s Lazarus Group allegedly targets deBridge
DeBridge cofounder Alex Smirnov on Saturday alleged their team found evidence that North Korean state-backed Lazarus Group was attempting to attack the cross-chain protocol, warning that the group’s attack could broadly target Web3 teams. See related article: After Nomad and Solana, ZB.com gets hacked for US$4.8 mln Fast facts See related article: Why blockchain bridges […]
‘The Merge’ can make crypto payments mainstream again: Vitalik Buterin
Once we have scaling technology […] it actually becomes possible to really try to make crypto payments more mainstream again,” Ethereum cofounder Vitalik Buterin said during his keynote speech at the Korea Blockchain Week 2022 conference on Monday. See related article: Prominent Chinese ETH miner plans proof-of-work fork amid The Merge Fast facts “Cryptocurrency payments […]
Blockchain is needed for metaverse interoperability: Klaytn
Sam Sangmin Seo, the head of South Korea’s Klaytn Foundation, says blockchain technology plays a crucial part in metaverse technology because it provides interoperability between different metaverses. See related article: Kakao’s Klaytn partners with OpenSea for NFT expansion in Asia Fast facts “Blockchain can provide means to implement virtual economy in the metaverse,” Seo said. […]
Affairs of the art: Why NFT creators have fallen for Tezos
Tezos has become a leading art blockchain, even in China, where NFTs are barely tolerated. Its regional chief, Katherine Ng, explains its success
Coinbase-Blackrock deal, India’s blockchain outlook
Coinbase and Blackrock partner up to provide institutional crypto access. Meanwhile, Instagram expands NFT platform.
New US bill to give CFTC oversight of cryptocurrencies may speed up crypto legislation in other markets
The U.S. bill to bring cryptocurrencies under the oversight of the Commodities Futures and Trading Commission is likely to hasten legislation of such digital assets around the world.
Binance partners Mastercard to launch card in Argentina for bill payment, everyday purchases
Binance has partnered Mastercard to introduce a Binance card in Argentina for making purchases and paying bills with cryptocurrencies. See related article: Philippines’ SEC warns public not to invest with Binance Fast facts The product is currently in a beta phase and will be widely available in the coming weeks, Binance said. The card is […]
Riot Blockchain earns millions in credits by cutting energy use during Texas heat wave
American Bitcoin mining firm Riot Blockchain earned an estimated US$9.5 million in power credits in July as it reduced energy consumption and mined fewer Bitcoins. See related article: Bitcoin miners in Texas halt operations amid heat wave Fast facts Riot produced 318 Bitcoins in July this year, about 28% less than July last year, thereby […]
BlackRock, Coinbase partner to extend crypto trading to institutional investors
Investment management firm BlackRock Inc. has partnered with cryptocurrency exchange Coinbase Global Inc. to provide institutional clients with access to crypto trading and custody services. See related article: Coinbase, biggest US crypto exchange, cuts workforce by 18% Fast facts BlackRock is extending the use of its Aladdin asset management software suite to its institutional clients […]
What NFT.NYC missed that Coachella got right
2022’s marquee NFT event in America’s biggest city failed to capitalize on its namesake technology, while an iconic music festival in the California desert understood the possibilities, writes Mirwan Suwarso of Mola TV.
S.Korea’s Bithumb links system with Samsung Securities, mobile apps
South Korea’s leading digital asset exchange Bithumb is linking its system with mobile applications from three major domestic financial institutions — Samsung Securities, NH Nonghyup and KB Kookmin Bank, Bithumb announced Thursday. See related article: Scarred by Terra-LUNA, South Korea moves ahead with digital asset reform Fast facts Bithumb users can now check up-to-date crypto […]
Revolut starts crypto service in Singapore
Revolut has started offering cryptocurrency services to users in Singapore, the global fintech firm said on Thursday. See related article: How a market slump may be helping Singapore’s stance against retail crypto Fast facts Revolut will levy transaction fees of 2.5% and 1.5% on standard and premium plans, the company said in its statement. Customers […]
US crypto bill pile up; Philippines Binance warning
US Senate proposes the CFTC takes responsibility of Bitcoin and Ethereum. Meanwhile, Philippine authorities warn against Binance
Blockchain in India got off on wrong foot, says former finance chief
India’s government doesn’t like cryptocurrencies and has made that clear in statements and with heavy taxes on the asset class, but what does that say about blockchain adoption?
India questions Binance-backed WazirX on foreign exchange violations
India’s Directorate of Enforcement (ED), responsible for enforcing economic laws and fighting economic crime, is investigating two cases against crypto exchange WazirX under the Foreign Exchange Management Act of 1999 (FEMA), reported local media. See related article: Only the big fish will survive as India cracks the whip on crypto: Binance-backed WazirX Fast facts Zanmai […]
Seed-phrase leak from crypto wallet Slope prompts Solana hack
The massive Solana wallet hack had occurred after centralized servers stored unencrypted seed phrases sent by Slope Wallet’s mobile app, making them visible to anyone with access to the server, showed a preliminary finding from blockchain audit firm OtterSec. See related article: Solana blames Slope for exploit Fast facts See related article: After Nomad and […]
Philippines’ SEC warns public not to invest with Binance
The Philippines’ Securities and Exchange Commission (SEC) has cautioned the public not to invest with Binance, the world’s largest cryptocurrency exchange by trading volume, in response to think tank Infrawatch PH’s request to ban Binance in the Philippines. See related article: Philippines think tank calls for ban on Binance Fast facts In a letter responding […]
Singapore-based Bitcoin miner scales back Kazakhstan project
Concerns over power supply and cost uncertainties have prompted Singapore-based Bitcoin miner SAI.TECH (SAI) to terminate the remainder of its expansion plans in Kazakhstan, the Nasdaq-listed company said in a statement. See related article: Bitcoin rig maker Canaan to deploy self-mining soon in US, executive says Fast facts SAI has terminated the second phase of […]
S.Korea’s Hashed plans new VC fund round after losing US$3.6B in Terra LUNA
Kim Seo-joon, head of South Korean blockchain venture capital (VC) fund Hashed, said in an interview with Bloomberg he lost most of his LUNA investments during the crash in May but is planning a third VC fund in the first half of 2023. See related article: Scarred by Terra-LUNA, South Korea moves ahead with digital […]
Solana blames Slope for exploit
The massive Solana wallet exploit that began on Wednesday Hong Kong time is believed to be related to the Slope mobile wallet app, while there is no evidence to show the blockchain’s code was compromised, Solana said. See related article: Bitcoin, Ethereum little changed; Solana still lower after network hack Fast facts See related article: […]
Binance cofounder Yi He to head US$7.5B VC arm Binance Labs
Binance has named cofounder Yi He as the new head of its incubator and venture capital (VC) arm Binance Labs, as the world’s largest cryptocurrency exchange by trading volume works to invest in “projects with the tenacity to thrive in tough market conditions.” See related article: Calling a spade a spade holds Binance’s lesser known […]
Filecoin on a tear as cautious optimism returns to crypto markets
Top blockchain and crypto news: Filecoin leads in market uptick. CryptoPunks in new glow as Tiffany jewelry. Chinese firms flock to Singapore.
Nomad’s US$200 million hack; Saylor steps down
Nomad loses US$200 million after over 300 suspected of participating in the hack. Meanwhile, Michael Saylor moves from CEO to Chairman of Microstrategy.
Chinese mining rig maker Canaan says global expansion on track despite ‘crypto winter’
Beijing’s drive to stamp out crypto mining and the slump in crypto prices are headwinds that Canaan says it knows how to deal with, adding that the crypto winter may be shorter than expected.
Gucci begins accepting BAYC-tied token ApeCoin as payment
Gucci has further embraced cryptocurrencies, announcing in a tweet on Tuesday that it is accepting in-store purchases with ApeCoin through payment service provider BitPay. See related article: How high fashion is waking up to blockchain’s possibilities Fast facts ApeCoin is a cryptocurrency tied to Bored Ape Yacht Club (BAYC), a non-fungible token (NFT) project created […]
CBDCs better poised for cross-border payments than Bitcoin, stablecoins: ECB study
Bitcoin is the worst option for increasing the efficiency of cross-border payments while stablecoins occupy an intermediary position, the European Central Bank (ECB) said in a study published Monday. See related article: Cryptocurrency is worthless: ECB Christine Lagarde Fast facts Central bank digital currencies (CBDCs) and domestic instant payment systems have the highest potential for […]
Bitcoin falls in market downtrend, ETH treads water, ETC and CRO edge up
Bitcoin was trending lower in early Asia trading on Wednesday with most major cryptocurrencies falling. Bitcoin was priced at US$23,048 as of 8 a.m. in Hong Kong, down 1.2% in the prior 24 hours. Ethereum was little changed at US$1,643, up 0.3%, according to data from CoinMarketCap. See related article: Bitcoin, Ethereum lose ground; Polkadot […]
Flippening ahead?; NFT sales fall again
Is the flippening coming soon? And NFT sales drop 25% in July as the crypto winter continues.
Bitcoin, Ethereum fall in Tuesday evening trade in Asia
The cryptocurrency market is trading down in general, with Bitcoin and Ethereum down 2.2% and 6.1% over the past 24 hours in Tuesday evening trade in Hong Kong. See related article: ETH crosses Bitcoin in options market for first time in history Fast facts Bitcoin was trading at US$22,843.99, while Ethereum was changing hands at […]
Singapore court gives Vauld parent three-month protection from creditors
Defi Payments, the parent company of troubled Singapore-based crypto exchange Vauld, received court approval to protect the platform from potential lawsuits for three months. See related article: Singapore crypto lender Vauld reportedly owes retail investors US$363 million Fast facts See related article: Zipmex seeks moratorium from creditors in Singapore court
Binance spent over US$1B on compliance, founder Changpeng Zhao says
Binance founder and CEO Changpeng Zhao Monday said the world’s largest cryptocurrency exchange by trading volume spent over US$1 billion on compliance efforts with its market share continuing to increase. See related article: Binance’s Changpeng Zhao sues Bloomberg publisher in HK Fast facts Zhao Monday said on his verified Twitter handle that a recent CoinDesk […]
ETH crosses Bitcoin in options market for first time in history
Ethereum blockchain’s native token Ether (ETH) has surpassed Bitcoin (BTC) in the options market for the first time on Deribit exchange. See related article: Tether will support ETH 2.0 amid speculations of Merge delay Fast facts The cumulative dollar value of Ether options contract opens on Deribit was around US$5.7 billion, while open Bitcoin options […]
Recovering crypto from insolvent companies may be easier than you think
A stolen painting may be lost forever, but a fraudulent Bitcoin transaction — with these legal strategies and tracing tools — can lead right to the criminal.
Chiliz CHZ jumps 25% on Socios, FC Barcelona partnership
Chiliz (CHZ) cryptocurrency jumped as much as 25% on Monday evening in Asia after announcing a US$100 million investment in FC Barcelona’s Barça Studios for a 24.5% stake in the soccer club’s digital content and distribution hub. See related article: South Korea’s Ifland metaverse dives into play-to-earn Fast facts Under the partnership, Socios.com and Chiliz […]
Digital Treasures Center latest to win Singapore’s crypto license
Digital Treasures Center (DTC) became the latest firm to receive the Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) to become a regulated Digital Payment Token (DPT) services provider, the company announced on Monday. See related article: Singapore’s central bank says cryptocurrencies have ‘no fundamental value’ Fast facts A full license […]
ETH merge delay concerns; Buterin’s clown call
The ETH2 merge could once again be delayed. Meanwhile, Vitalik Buterin calls Michael Saylor “a total clown”.
Bitcoin, Ether edge lower in Asian trading, Dogecoin ends July with gains
Bitcoin and Ethereum were trading lower by 1.3% and 0.4% over the past 24 hours in Monday evening trade in Hong Kong. See related article: Bitcoin, Ethereum fall back after posting monthly gains for July Fast facts Bitcoin was trading down 1.3% at US$23,331.73 over the past 24 hours at 5:20 p.m. HKT on Monday, […]
KuCoin ETFs to allow NFT purchase with USDT instead of ETH
The new product will help over 20 million KuCoin users to access blue chip non-fungible tokens (NFTs) through direct purchases with USDT, instead of ETH, the cryptocurrency exchange said. See related article: KuCoin dismisses rumors, eyes India for growth: report Fast facts KuCoin is partnering with Fracton Protocol and will initially list five NFT exchange-traded […]
Vitalik Buterin calls MicroStrategy’s Michael Saylor a ‘total clown’
Ethereum cofounder Vitalik Buterin has taken a shot at MicroStrategy chief executive officer Michael Saylor, calling him a “total clown” after the latter called the world’s second-largest cryptocurrency “inherently unethical.” See related article: Crypto continues tear while Vitalik Buterin says Eth2 ‘not priced in’ Fast facts “Why do maximalists keep picking heroes that turn out […]
Apple iPhone maker’s founder distances himself from crypto fraudsters using his image
Terry Gou, founder of Apple iPhone maker Foxconn, Saturday said that fraudsters have been using his images to promote cryptocurrency scams and that he has never invested in the crypto industry. See related article: Foxconn pledges to boost metaverse development this year Fast facts In a Facebook post on Saturday, the Taiwanese mogul said through […]
Bitcoin, Ether rally continues in Friday afternoon trading in Asia
The cryptocurrency market continued its rally in afternoon trading in Asia on Friday, with Bitcoin and Ethereum up 4.4% and 5.7%, respectively, over the past 24 hours. See related article: Crypto continues tear while Vitalik Buterin says Eth2 ‘not priced in’ Fast facts Bitcoin was at one point changing hands above the US$24,000 mark in […]
Amid Ripple XRP, Coinbase wrangles, Gary Gensler flexes SEC muscle
The U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler Friday reiterated the agency’s attempt to bring cryptocurrency exchanges under oversight and “register where appropriate as securities.” See related article: US crypto bill leaves ‘open question’ on securities: Tessler Fast facts See related article: SEC fails to block XRP holders from aiding in Ripple case
Komainu latest to get Dubai’s approval to operate
Digital assets company Komainu has received a provisional license from the Dubai Virtual Assets Regulatory Authority (VARA) to offer cryptocurrency products and services to institutional clients in Dubai, CoinDesk said in a report. See related article: Dubai could be crypto’s promised land, Citi says Fast facts Komainu is the latest to receive approval from Dubai […]
Terra allegedly ramped up its numbers with insider trading: report
Terraform Labs and affiliates allegedly ramped up the numbers of its decentralized finance (DeFi) service Anchor Protocol by investing their own capital, a claim that South Korean prosecutors are currently looking into, state broadcaster KBS reported. See related article: S.Korea slaps ‘notification upon arrival’ on Terra’s Do Kwon Fast facts The local media outlet claims […]
Bitcoin back above US$23,000; Ethereum on a tear
Bitcoin and Ethereum see significant gains in spite of Fed rate hike. Meanwhile, Dubai Police announces NFT launch.
Harmony’s compensation plan upsets hack victims
Harmony Protocol announced on Wednesday a reimbursement plan for wallets affected by the US$100 million hack on its Horizon cross-chain bridge last month, which was met by mostly negative feedback. See related article: North Korea said to be responsible for Harmony Horizon hack Fast facts The reimbursement will be with Harmony’s ONE cryptocurrency, distributed monthly […]
Bad actors in North Korea, Russia send record-high funds to crypto mixers
A new report by Chainalysis shows that sanctioned actors, especially in North Korea and Russia, are sending record sums to crypto mixers.
Immutable lays off 6% of workforce
Immutable has let go of about 6% of its workforce, including lead designer James Wakeham who was involved in the development of the game developer’s popular non-fungible token (NFT) game Gods Unchained. See related article: Play-to-earn game developers pivot to engaging fans Fast facts A spokesperson from Immutable’s U.S. branch told gaming media outlet Kotaku […]
Ethereum price surges amid bounceback, tenth shadow fork going live
Ethereum has been on a tear, gaining 14% in the past 24 hours. The world’s second-biggest cryptocurrency by market capitalization is now up more than 47% in the past 14 days ahead of the Merge. See related article: Vitalik Buterin says Ethereum to be 55% complete post-merge Fast facts Ethereum is up 13.9% over the […]
Tether says USDT reserves have no Chinese commercial paper
Tether, the issuer of USDT, the world’s most traded stablecoin, said it doesn’t hold Chinese commercial paper in its reserves and it plans to reduce its commercial paper holdings overall. See related article: Tether slashes commercial paper, shows more reserves than liabilities Fast facts In a statement published on Wednesday, Tether said it “holds no […]
Why DeFi remains attractive to institutions in a bear market
Despite the bleak macro outlook, more institutions are looking to gain exposure to the DeFi sector, writes Robert Alcorn of Clearpool. Here’s why.
IMF warning shrugged off; US stablecoin bill race
The crypto market shrugs off IMF’s predicted recession risk. Also, U.S lawmakers racing to introduce the stablecoin bill.
Voyager gives Sam Bankman-Fried’s ‘low-ball’ bailout offer a single digit
Top blockchain and crypto news: SBF’s Voyager rescue deal spurned. Tesla pulls U-turn with BTC sale. Tencent cuts local NFT staff as it looks abroad.
Scarred by Terra-LUNA, South Korea moves ahead with digital asset reform
Aiming to uncover the next “BTS in finance,” Chairman Kim Joo-hyun of the Korean Financial Services Commission (FSC) is calling for “bold reforms” in financial regulations, including in crypto assets.
US stablecoin bill draft may be released this week: report
Lawmakers in the U.S. House of Representatives are pushing to introduce a stablecoin bill draft this week before the House breaks for August recess, according to four unnamed sources “familiar with the plan” cited by The Block. See related article: Hold onto your crypto bags, the regulators are coming Fast facts The proposal on stablecoin […]
S.Korea slaps ‘notification upon arrival’ on Terra’s Do Kwon
South Korean prosecutors investigating Terra-LUNA have requested the Ministry of Justice to place a “notification upon arrival” on Terraform Labs chief executive officer Do Kwon and a travel ban on Terra cofounder Shin Hyun-seung, according to local media reports. See related article: South Korean prosecutors said to have raided Terra cofounder Shin’s residence Fast facts […]
Crypto exchange Bullish’s 2Q average daily volume rises 3-fold on the quarter
Average daily volumes (ADV) at Bullish cryptocurrency exchange in the second quarter of the year rose by about 212% to US$522 million, up from US$167 million in the first quarter, according to a business update released on July 26. The exchange is operated by Bullish (GI) Limited and regulated by the Gibraltar Financial Services Commission. […]
Crypto exchange Kraken reportedly under investigation for Iran sanctions breach
U.S.-based crypto exchange Kraken is reportedly under investigation by the U.S. Treasury Department’s Office of Foreign Control for allegedly violating economic sanctions against Iran, according to the New York Times. See related article: US charges two Europeans with helping N.Korea evade sanctions with crypto Fast facts Kraken allegedly allowed users in Iran and elsewhere to […]
IMF says crypto crash hasn’t quite harmed broader financial system
The International Monetary Fund (IMF) said Tuesday that the cryptocurrency market turmoil hasn’t quite affected global financial stability. See related article: Crypto volatility hasn’t had macroeconomic implications so far: Jerome Powell Fast facts In a report published Tuesday, the IMF said crypto assets have “experienced a dramatic selloff” that has led to losses in crypto […]
Fed nerves hit crypto; Philippines crypto tax pushed
Crypto prices fall ahead of the Fed meeting. Meanwhile, the Philippines pushes for a crypto tax.
KuCoin dismisses rumors, eyes India for growth: report
Cryptocurrency exchange KuCoin has “no exposure to LUNA & wLUNA,” and its recent fundraising “has nothing to do with the market downtrend,” the firm’s CEO said on his verified Twitter handle. See related article: How cold storage can ward against this crypto winter’s freeze Fast facts KuCoin CEO Johnny Lyu was responding to rumors about […]
Binance’s Changpeng Zhao sues Bloomberg publisher in HK
Binance founder and CEO Changpeng Zhao is suing the Hong Kong publisher of Bloomberg Businessweek for defamation for an article published last month. See related article: Binance fined by Dutch central bank for improper registration Fast facts Zhao Monday filed a lawsuit in Hong Kong against Modern Media Co. Ltd., which publishes the Chinese edition […]
What is the crypto industry’s public responsibility?
The crypto world is consumed by a spiritual battle between its believers and haters, and it is in need of a rebirth and new identity, writes Prof. Yanto Chandra of Hong Kong Polytechnic University.
Market bottom being tested?; Zipmex in buyout talks.
Silvergate issues warnings about the crypto winter. Meanwhile, Zipmex considers a buyout by FTX and Alameda Research.