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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 […]
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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.
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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.

SEC says 9 out of 25 assets in crypto insider trading case are securities

The U.S. Securities and Exchange Commission (SEC) alleged in a civil suit filed last week that nine of the 25 crypto assets traded in the first-ever cryptocurrency insider trading case were securities and that leaking confidential information, therefore, amounted to securities fraud.  See related article: Former Coinbase manager arrested on insider trading charges Fast facts […]

Japanese bank SMBC plans to develop NFT business

Sumitomo Mitsui Financial Group (SMBC Group), which runs one of Japan’s largest banks, said Friday it will work together with blockchain startup HashPort to develop non-fungible token (NFT) and Web3 projects. See related article: PSG sells US$220,000 NFT tickets for first Japan tour in 27 years Fast facts SMBC and HashPort plan to set up […]

FTX said to be in talks to acquire S. Korea crypto exchange Bithumb

Crypto derivatives exchange FTX is reportedly in talks to purchase Bithumb, one of South Korea’s top five cryptocurrency exchanges. See related article: BlockFi’s deal with Sam Bankman-Fried’s FTX will prioritize clients Fast facts The two exchanges have been discussing the deal for several months, according to an anonymous source who told Bloomberg. Neither Bithumb nor […]

DeFi TVL plunged 67% in Q2

The total value locked (TVL) in decentralized finance (DeFi) plunged 66.9% in the second quarter of this year amid market turmoil, according to data from DefiLlama. See related article: Sinking TRON takes DeFi TVL to US$63B, lowest since April 2021 Fast facts The DeFi space recorded US$220 billion in TVL at the beginning of the […]

Mind the gap: Fixing the female deficit in Web 3.0

Despite some recent progress, the Web 3.0 industry is still coming up short on women’s participation, says NEAR Foundation chief Marieke Flament

BSP says no crypto ban; Rehab for crypto addicts

Philippine BSP governor denies plans on banning crypto. Meanwhile, a former Coinbase employee has been arrested for insider trading.

South Korean prosecutors said to have raided Terra cofounder Shin’s residence

South Korean prosecutors’ search and seizure campaign on Terra-LUNA and affiliates includes raiding the private home of Terraform Labs cofounder Daniel Shin, or Shin Hyun-seung, among others on Wednesday, local media reported. See related article: S.Korea prosecutors raid crypto exchanges as part of Terra-LUNA investigation Fast facts Shin, who founded Terraform Labs with current chief […]

Philippine central bank governor says no plan to ban crypto

New Bangko Sentral ng Pilipinas Governor Felipe Medalla is no fan of crypto, but in an exclusive interview with Forkast, he said there’s no plan to outlaw the digital asset.

Thai SEC seeks additional clarification from Zipmex

The Securities and Exchange Commission of Thailand (Thai SEC), has sought clarification from cryptocurrency exchange Zipmex on its decision to freeze withdrawals, according to a statement on its website.  See related article: Celsius bankruptcy deepens chill over crypto sector Fast facts The regulatory authority for Thailand’s capital markets, in a letter dated July 20 issued […]

Former Coinbase manager arrested on insider trading charges

The U.S. Department of Justice (DOJ) arrested former Coinbase product manager Ishan Wahi and his brother, Nikhil Wahi, on allegations of wire fraud in a first-ever cryptocurrency insider trading scheme, the agency said in a statement on Thursday.  See related article: Former OpenSea employee arrested amid insider trading allegations Fast facts The Wahi brothers are […]

Taiwan says credit cards can’t be used to buy crypto

Taiwan’s financial regulator is asking banks and credit card companies not to allow credit cards as a means of payment for virtual assets services, local media reported Thursday. See related article: Taiwan has a chance to develop crypto amid China’s clampdown, Filecoin Foundation director says Fast facts Taiwan’s Financial Supervisory Commission Friday told Forkast that […]