China ousts former official for supporting crypto mining, corruption
A former Chinese official has been expelled from the Communist Party of China for “serious violations of discipline and law” as he was found to introduce and support cryptocurrency mining activities, in what may be the first time for China’s anti-graft watchdog to expel an official over crypto mining. Fast facts The country’s anti-corruption watchdog […]
Algorand Foundation, Blockchain Association Singapore partner to grow blockchain ecosystem
The Algorand Foundation, a Singapore-based blockchain organization supporting the development of the Algorand ecosystem, has partnered with the Blockchain Association Singapore to drive the development of blockchain technology in Singapore and the wider Southeast Asia region. Fast facts In a memorandum of understanding signed on Nov. 12, the ecosystem partnership will see the Algorand Foundation […]
Hong Kong’s First Digital Trust to custody security tokens on IX Swap
First Digital Trust, a Hong Kong-regulated trust and custodian specializing in digital assets, has become the first official custodian of IX Swap, a security token and cryptocurrency exchange, according to a company announcement today. Fast facts IX Swap is a decentralized finance (DeFi) automated market maker and liquidity pool for security tokens and tokenized stocks. […]
Russia to legalize crypto mining; Korean candidate goes all out crypto
Russia to legalize crypto mining; Korean candidate goes all out crypto
South Korea’s crypto exchange Coinone makes the cut, but not Bithumb
The Financial Intelligence Unit (FIU) has accepted Coinone’s compliance report with South Korea’s latest crypto regulations, while Bithumb is left as the only crypto trading platform out of the country’s four major exchanges to not be officially registered under the FIU. Fast facts Coinone became the third official cryptocurrency exchange of South Korea, following Upbit […]
Indonesia’s top Islamic council says crypto use is forbidden for Muslims: report
The religious body’s decision comes after the country saw crypto transaction growth earlier this year.
This Brazilian digital bank wants to change the world, one block at a time
Covid laid bare the gaps in people’s access to banking services. Moeda Seeds is looking not just to fill the gaps but to change the banking paradigm.
Russian parliamentarian proposes to study and regulate crypto mining
The Russian government could be looking to legalize cryptocurrency mining, as parliamentarian Andrey Lugovoy proposed the creation of a working group to discuss the issue, according to a Thursday press statement from State Duma, the country’s lower house of the parliament. Fast facts Lugovoy, also a deputy chairman of a committee on security and anti-corruption, […]
Solana Breakpoint 2021 celebrates price ATH, technology and projects to come on the emerging blockchain
Rounding out an impressive year for the world’s No. 5 blockchain, Solana held its first global offline conference in Lisbon this week. Here’s a look at some of the key moments.
Mayor says Miami will pay crypto dividends to residents
Mayor Francis Suarez may be on his way to eliminating taxes by paying residents a crypto dividend
South Korean court favors investors in crypto-hacking lawsuit against exchange
The Seoul District Court made an unprecedented ruling in favor of investors who lost their virtual assets in a hacking incident at crypto exchange Coinrail. Fast facts On Wednesday, the court ruled that Linus Co., the operator of the Coinrail exchange, needs to pay the plaintiffs 380 million Korean won (about US$320,000). The plaintiffs, consisting […]
Crypto surges on US inflation rise; Korean investors win damages
Crypto surges on US inflation rise meanwhile, Korean investors win damages
Crypto markets shudder as Evergrande fears re-emerge
As speculation continues over the fate of the Chinese property development giant, crypto markets were not spared the downturn over fears of its potential collapse.
Ripple to launch ‘game-changer’ liquidity hub amid XRP legal battles with SEC
Trying to move beyond XRP, Ripple hopes its customers will join RippleNet with a wallet that supports fiat and other cryptos like Bitcoin and Ether.
Double-whammy U.S. inflation news sends Bitcoin flirting with US$69,000
Within minutes of reports showing U.S. consumer prices rising and weekly wages falling, Bitcoin surged on inflation fears.
Bitcoin mining is ‘infinitely sustainable,’ says Blockstream executive
Panel explores sustainability issues surrounding the energy-intensive industry at Bitcoin & Beyond Virtual Summit.
South Korea’s finance minister still believes in 20% crypto tax for 2022
Despite movement from both the ruling Democratic Party and the conservative party to delay the 20% virtual asset gains tax, South Korean finance minister still thinks it should start as planned for Jan. 1, 2022.
The media’s role in driving growth in crypto
Panel looks at best practices in news coverage from Decrypt Media, CoinDesk, South China Morning Post.
Why the crypto industry needs compromise and education
FTX founder and CEO Sam Bankman-Fried says building products that people want is what matters most, and the crypto industry and regulators will need to find compromises to resolve some of the industry’s pressing issues.
Middle-ground India crypto bill could be introduced this month
The Indian government is looking to introduce a cryptocurrency bill in the winter session of parliament in a bid to “fast track” regulation of a rapidly growing ecosystem, CNBC-TV18 reported. Fast facts India first drafted a bill to ban all cryptocurrencies in the budget session of 2021, but it was never tabled for discussions. Officials […]
What is the future of crypto and DeFi regulations?
From China’s crackdowns to El Salvador’s Bitcoin adoption, where is the world headed in how governments regard crypto? An expert panel explores the future of decentralized finance in the global economy.
Crypto exchange Huobi to stop serving Singapore-based customers
Cryptocurrency exchange Huobi Global will stop serving Singapore-based customers from March 31, 2022 to comply with Singapore laws, according to a company announcement on Nov. 9. Fast facts “To comply with the laws of Singapore, we will have to include Singapore as a restricted jurisdiction. Regrettably, this means Huobi Global can no longer offer services […]
Coinbase reports 75% drop in Q3 profits — despite SHIB listing
The largest U.S.-based cryptocurrency exchange, Coinbase, earned just US$406 million net income in Q3 this year — a 74.7% decline over the previous quarter — according to the company’s investor earnings report released yesterday. Fast facts That figure represents a 500% increase over Q3 last year, but is significantly less than the US$1.6 billion in […]
United we stand: crypto experts debate tribalism
Crypto is ‘a behavioral economics experiment,’ says Real Vision co-founder Raoul Pal. ‘Your incentive system is not a like button on Facebook, it’s money.’
How is the launch of Bitcoin futures ETFs affecting crypto mining?
After the SEC approved a Bitcoin futures ETF, the cost of crypto mining rigs jumped. Coincidence? Varit Bulakul of The Brooker Group explains.
Unlocking the power of Bitcoin through smart contracts
As Ethereum has become the preferred blockchain for smart contracts, what’s the future of the Bitcoin blockchain?
3 themes driving institutional adoption of digital assets
What makes 2021’s roaring crypto market different from 2017’s are the banks and VCs piling in, writes Calvin Shen of Hex Trust. What’s behind their crypto adoption?
Crypto exchange industry consolidating as DEXes surge in popularity
The highly competitive cryptocurrency exchange industry appears to be consolidating, according to blockchain analytics provider Chainalysis as part of its Competitive Landscape Report that will be released next week. Fast facts The number of active cryptocurrency exchanges peaked at 845 in August 2020 and stood at 672 as at August 2021, Chainalysis reported. The exchanges […]
Crypto market cap breaks US$3 trillion: APAC crypto cards to launch
Crypto market cap breaks US$3 trillion, also APAC crypto cards to launch
Vitalik Buterin: How DeFi, NFTs and DAOs are building a value exchange layer for Web 3.0
Speaking at the Singapore FinTech Festival, Ethereum’s creator discusses DeFi adoption and why he expects Ethereum’s ‘killer ecosystem’ to grow over the next few years.
Ethereum drives crypto comeback as US tax fears leave market unfazed
Top blockchain and crypto news: Ethereum rises and rivals follow. Taxing times for US investors. New life for reborn crypto miner.
How Singapore is looking at Web 3.0 and DeFi as it prepares for a digital Singapore dollar
Speaking at the Singapore FinTech Festival, Singapore central bank chief Ravi Menon announces the launch of Project Orchid, a digital dollar project.
Will El Salvador’s lead on Bitcoin inspire others to follow suit?
The Central American nation is the first to adopt Bitcoin as legal tender. As many countries face similar issues of large unbanked population and high remittance fees, will others follow suit?
BlockFi files for Bitcoin spot ETF with SEC amid regulatory heat
New Jersey-based crypto banking services provider BlockFi and investment management firm Neuberger Berman jointly filed for a Bitcoin spot exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission on Tuesday. Fast facts In September, the U.S. got its first Bitcoin-linked ETF with the launch of ProShares Bitcoin Strategy Fund. But ProShares’ ETF was backed […]
Crypto funds see record $8.9B investment inflows so far this year
Signaling increased confidence in the future of digital assets, cryptocurrency investment products saw institutional investment inflows of US$174 million last week — the 12th consecutive week of inflows — bringing year-to-date inflows to a record US$8.9 billion, according to digital assets manager CoinShares. Fast facts Institutional investment into crypto products have surged this year with […]
Bitcoin and Ethereum prices soar to new all-time highs, crypto market now worth $3 trillion
BTC and ETH are surging to dizzying new heights today as part of a broader crypto market rally. What’s going on?
CityCoins announces debut of NYCCoin
Before the crypto-enthusiastic mayor-elect has been sworn in, a grassroots effort announces it will launch a Bitcoin-backed token to support the city.
Mastercard joins Amber Group, Bitkub and CoinJar to launch crypto payment cards
Mastercard has partnered with three crypto companies in Asia Pacific — Hong Kong-based Amber Group, Bitkub in Thailand, and CoinJar in Australia — to launch crypto-funded payment cards, according to a Nov. 8 media statement. Fast facts The three companies are the first APAC-based cryptocurrency platforms to join Mastercard’s global Crypto Card Program, which enables […]
Ethereum hits new all-time high; S Korea says NFTs not virtual assets
Ethereum hits new all-time high meanwhile South Korea says NFTs not virtual assets
Huobi migrates spot trading services to regulated entity in Gibraltar
Cryptocurrency exchange Huobi Global, which obtained a distributed ledger technology license from the Gibraltar Financial Services Commission in 2018, will be migrating its spot trading services to the regulated entity in Gibraltar (“Huobi Gibraltar”), the company announced today. Fast facts Huobi has received approval from the Gibraltar Financial Services Commission to migrate its cryptocurrency spot […]
Chinese edtech company pivots to crypto mining amid China’s clampdown on tutoring
As China continues to crack down on the private tutoring sector, one education-tech company has decided to pivot into blockchain and cryptocurrency mining. Fast facts Nasdaq-listed Meten Holding Group, which officially changed its name from Meten EdtechX Education Group in August, has moved forward with plan for the new business venture in the crypto world, […]
Ethereum sets new all-time price high as crypto market cap nears $3 trillion
Ethereum reached a new all-time price high of US$4,766 earlier today, flying past its previous all-time high record of US$4,634 set five days ago, according to CoinGecko data. Fast facts The world’s second-largest cryptocurrency by market value has been on a record run since late last month. On Oct. 28, Ethereum’s price climbed to US$4,416 for the first time. The […]
Solana Ventures, Lightspeed Venture Partners and FTX partner to invest $100M in Web3 gaming
Solana Ventures, Lightspeed Venture Partners and cryptocurrency exchange FTX today announced that they are partnering to invest US$100 million on gaming studios and projects building on the Solana blockchain. Fast facts “Gaming has a massive opportunity to bring the next billion users to Web3,” said Amy Wu, partner at Lightspeed Venture Partners, in a statement. […]
Canaan sues over patent infringement; PayTM considers crypto services
Canaan sues over patent infringement also, PayTM considers crypto services
What Solana prices will be at the end of 2021 and beyond
As Solana surges to new all-time highs, 50 fintech experts surveyed by Finder offer predictions on SOL’s price outlook for the end of the year and longer-term.
Is 2021 the year of crypto’s coming of age?
Blockdata co-founder Jonathan Knegtel thinks so. Almost a teenager, Bitcoin is reaching a level of maturity that’s defying the predictions of its critics.
Crypto mining rig maker Canaan sues two Chinese tech companies over patent infringement
Canaan is seeking $14 million in alleged losses from Shenzhen HighSharp Electronic Technology and Sichuan Yinbimei Technology.
Fashion, art, games and community: What does a decentralized metaverse mean for you?
The idea of the metaverse has gone from the realm of science fiction to the latest business model of major companies from Facebook to Nike. What do metaverses powered by blockchain look like, and why is there so much interest in Decentraland?
Neobank Revolut looks to build its own crypto exchange
London-headquartered fintech startup Revolut is looking to build its own crypto exchange, according to a new job posting. Fast facts The selected candidate will lead neobank Revolut’s “technical team to architect and build Revolut Crypto exchange,” the job posting says. The candidate will need experience in building order matching engines, like those used on crypto […]
Miami and NYC leaders vie for crypto-mayor title
The bell has rung on the friendly, post-Election Day competition between leaders of two major American cities for who will be the crypto-friendliest mayor of all.
What is the Solana ecosystem and how is it fueling SOL’s stratospheric rise?
Solana prices keep cresting to new heights, making SOL a top-five cryptocurrency by size. What makes Solana and its ecosystem stand out? Forkast.News explains.
Aleph.im launches Serum Markets to provide DeFi trading data on Solana
Project Serum, a decentralized exchange on the Solana blockchain, has seen its total value locked (TVL) more than double over the past month to US$2.468 billion, according to data from a new Serum Markets Analytics dashboard launched today. Fast facts Solana — a high performance blockchain and alternative to Ethereum — has been gaining ground […]
South Korea presidential candidate mulls a virtual assets government unit
Lee Jae-myung, the ruling Democratic Party’s candidate for the upcoming presidential election in South Korea, may include in his election pledges setting up a government sector dedicated to supervising the virtual asset industry. Fast facts It is reported that Lee is considering including a plan in his presidential campaign to set up a unit similar […]
How DeFi regulation can propel the next economic revolution
DeFi is here to stay, but regulations are still lacking. Jason Blick of EQIBank explores the challenges and how authorities can move forward.
e-CNY scam investigated; S Korea gets metaverse bug
e-CNY scam investigated meanwhile S Korea gets metaverse bug
Hong Kong Fintech Week’s live comeback talks digital renminbi and DeFi
One of Asia’s largest fintech events returns for its sixth year with a hybrid format of live and virtual sessions. Regulators, corporations and experts share what’s important now in crypto.
ETH and SOL hit all-time highs; CBA to offer crypto services
ETH and SOL hit all-time highs as well as CBA offers crypto services
Huobi to give away ticket to space as part of 8th-year celebration
Blockchain technology company Huobi Group is celebrating its 8th-year anniversary with a slew of events and giveaways — including a space trip “to the outer perimeters of Earth” — and a focus on expanding its global footprint, according to a company announcement. Fast facts Founded in 2013 in China, Huobi has made global expansion a priority […]
Dogecoin, Shiba Inu are becoming crypto alpha dogs in India
Dogecoin and Shiba Inu are gaining massive traction and ranking among the top five traded cryptocurrencies on Indian exchanges. Fast facts Dogecoin contributed 13.76% to the overall trading volume of CoinSwitch Kuber, which claims to be the largest Indian crypto exchange with over 10 million customers, over the last six months, according to a report […]
Wrapped XRP coming to Ethereum in December
Wrapped XRP (wXRP) will be supported on the Ethereum blockchain from December, according to an Oct. 31 announcement by Wrapped.com, a cross-chain wrapped assets provider. Fast facts Wrapped XRP will be backed 1:1 with XRP — the native cryptocurrency of the XRP Ledger (XRPL) — and held in custody with Hong Kong-based licensed digital asset […]
Ethereum, Solana, Polkadot climb to new all-time price highs in altcoin rally
Ethereum crosses the $4,600 mark for the first time and Solana overtakes Cardano as the fifth-largest cryptocurrency by market value.
Commonwealth Bank first in Australia to offer crypto trading
Amid debate in Australia surrounding the banking sector’s relationship with cryptocurrency, the country’s largest bank, Commonwealth Bank, will soon be allowing customers to buy, sell and hold crypto assets directly through its app — making it the first bank in the country to do so. Fast facts Partnering with leading global crypto exchange and custodian […]
CME expands crypto derivatives offerings with Micro Ether futures
The Chicago Mercantile Exchange is going to expand its crypto derivatives offerings and launch Micro Ether futures on Dec. 6, pending regulatory review. Fast facts Micro Ether futures will be sized at 1/10th of one Ether, allowing access to a wide range of investors amid surging Ether prices, according to a press release. Ether reached […]
Thailand’s oldest bank acquires majority stake in crypto exchange Bitkub
Thailand’s oldest bank, Siam Commercial Bank, has acquired a majority stake in the country’s largest crypto exchange Bitkub. Fast facts Siam Commercial Bank Securities, a subsidiary of SCB, has purchased 51% stake in Bitkub for approximately US$535.6 million, according to an announcement on Tuesday. The transaction is expected to be completed by the first quarter […]
US$66 billion at stake but only mild interest in Bitcoin trial
The outcome of a Miami civil trial may uncover who Bitcoin creator Satoshi Nakamoto really was, and who owns his rumored US$66 billion in Bitcoin.
Squid Game crypto rug pull: investors meet deadly ending
It’s a red light for those who bought the controversial token inspired by the Netflix mega-series Squid Game, as its developers appear to have cashed out their investments, leaving SQUID’s price to plunge 99.99%.
BXH suffers US$130 million exploit; Squid game token meets deadly end
BXH suffers US$130 million exploit, also Squid game token meets deadly end
The Sandbox NFT metaverse platform raises $93M in Series B led by SoftBank
Sebastien Borget, COO and co-founder of The Sandbox tells Forkast.News how NFTs and an open and decentralized metaverse is transforming the way we live, work and play.
Bitcoin mining difficulty recovers to May level
Bitcoin miners saw another mining difficulty adjustment on Monday, with an increase of 7.85%, recovering to the level recorded in May, according to data from BTC.com. Fast facts The mining difficulty level is now at 21.66 trillion at block height 707,616, reflecting the most difficult level since a previous adjustment on May 13, the data show. The latest […]
Institutional inflows into crypto year-to-date 30% higher than 2020 total
Cryptocurrency investment products saw inflows of US$288 million last week, with total inflows year-to-date at a record of US$8.7 billion — 30% higher than the total for 2020, according to digital asset manager CoinShares. Fast facts Bitcoin continued to lead with institutional inflows of US$269 million last week, albeit at a significantly lower level compared […]
DOT hits new all-time high with Polkadot parachain auctions imminent
DOT, the native cryptocurrency of the Polkadot blockchain network, crossed the US$50 mark for the first time on Nov. 1 and reached a new all-time high (ATH) of US$50.87, surpassing its previous peak of US$48.73 in May, according to CoinGecko data. DOT, currently the 8th-largest cryptocurrency by market value, was trading at US$48.69 as of […]
Hong Kong’s CMCC seeks to raise $300 million crypto fund
CMCC Global, a venture capital firm based in Hong Kong, is targeting US$300 million worth of assets in its latest crypto fund, according to Bloomberg. Fast facts Since being launched in April, CMCC’s fourth digital asset fund has gathered assets close to an estimated value of US$90 million with a goal to reach the US$300 […]