A bill to delay a pending tax on virtual assets failed to pass the National Assembly’s standing committee at a meeting yesterday, while the topic remains a huge factor in the upcoming presidential election. Fast facts The South Korean National Assembly’s tax subcommittee under its Strategy and Finance Committee had discussed an amendment to the […]
Luxury fashion houses set trends that trickle down to the rest of culture. Here’s where brands like Prada and Burberry are headed on the blockchain curve.
Xive co-founder tells Forkast.News no mining is possible in the south, while other regions still survive.
The Japan Digital Currency Forum has released a white paper examining the possibility of a new cryptocurrency backed by bank deposits. Fast facts The forum consists of over 70 companies, including the country’s top banks such as MUFG Bank, Sumitomo Mitsui Banking Corp., Mizuho Bank, Japan Post Bank, among others. Several government agencies also are […]
Cardano ADA and Tron TRX will no longer be available to eToro’s US customers next year while CRO reflects Crypto.com ‘going from strength to strength.’
One of Australia’s leading superannuation funds, Rest Super, indicated it is looking at investing in cryptocurrency — calling it a hedge against rising inflation — before stressing it is still only in the research phase of investing, according to a report in the Australian Financial Review. Fast facts Speaking at the fund’s annual general meeting […]
Arbitrum is leading the way in Ethereum scaling, according to a new report by Nansen, a blockchain analytics platform. What are the challenges that lie ahead?
Bitcoin and Ethereum prices fell nearly 24% in India as investors sought to get ahead of a possible crypto prohibition.
Hex Trust and Animoca Brands team up to tackle a key problem in gamefi.
India proposes crypto ban meanwhile Metaverse race heats up
Top blockchain and crypto news: Fed nominations suggest no sudden moves. El Salvador’s Bitcoin lava affair. Dodgy dealings in China’s digital yuan.
Another day, another fight, on Twitter. Tesla CEO Elon Musk, who has supported Dogecoin, tagged Binance CEO Changpeng Zhao (CZ) and tweeted Tuesday that “what’s going on with your Doge customers? Sounds shady,” after a technical glitch appeared to occur during a recent upgrade of the Dogecoin network. Fast facts A network upgrade of Dogecoin […]
As social media’s influence on broader society continues to grow, decentralized platforms will mean less central moderation — for better or worse.
The decentralized autonomous organization (DAO) that formed to buy a rare copy of the U.S. Constitution will soon be shutting down after failing to win an auction for the document last week, despite raising over US$40 million in ETH to do so, as the Verge reports. Fast facts As Forkast.News reported last week, 17,437 members […]
The Australian Securities and Investments Commission (ASIC) has accused the owners of Gold Coast-based business A One Multi of scamming 92 investors out of AU$25 million (US$18 million) and are now in possession of a cold wallet believed to hold almost US$20 million in Bitcoin purchased with the defrauded funds, according to a report by […]
The Pacific island nation of Palau has partnered with San Francisco-based blockchain payments company Ripple on a U.S. dollar-backed digital currency for the country — the world’s first government-based national stablecoin — using the XRP Ledger, according to a Ripple announcement. Fast facts Ripple will provide Palau with technical, business, design and policy support for […]
Three U.S. agencies released a joint statement outlining a plan to fast-track crypto-asset regulation in 2022.
The digital print of the U.S. Constitution grew an estimated 35% in value by the time Ken Griffin made the winning bid, surely ushering in more NFT interest.
Another e-CNY scam busted, meanwhile SCMP to tokenize history
Algorand ‘re-imagines’ blockchain by trying to solve key weaknesses of Bitcoin. Learn about this wannabe Ethereum killer in this Forkast.News explainer.
Dunamu — the owner of Upbit, South Korea’s largest cryptocurrency exchange — became a shareholder of Woori Bank, one of the largest banks in South Korea. Fast facts Dunamu purchased 1% of Woori Financial from Korea Deposit Insurance Corporation, which recently put 9.3% of its shares in Woori on auction. Another 4% went to Eugene […]
More provinces in China are taking serious actions to crack down on crypto mining following the all-out ban announced on Sept. 24 by the country’s top authorities. Fast facts Southeast China’s Fujian provincial development and reform commission on Friday held a video conference meeting with local authorities to clarify their responsibilities and pledged to “clear […]
Amid a sea of red in crypto markets today Avalanche is bucking the trend, gaining 130% since the start of the month to reach a new all-time high of US$146.22 and leaping over Dogecoin to enter the crypto top 10. This clears that list of memecoins for the first time since Dogecoin’s historic run in […]
Bitcoin continued its descent this morning Asia time and is currently trading around US$57,050 according to CoinGecko data. The largest cryptocurrency by market value saw a brief surge Monday, crossing the US$59,000 mark, but the rally was not sustained. Ethereum, too, is trading lower at US$4,169, down 15% from its Nov. 10 all-time high of […]
Korea stands firm on NFT games, meanwhile Laos introduces crypto regulations
The US Infrastructure Act has provisions that should make crypto advocates shudder, writes Alex Shipp of Offshift. Who will stand up for crypto’s core values?
U.S. payments giant Square wants to build a decentralized platform called tbDEX for exchanging cryptocurrencies like Bitcoin as well as fiat currency and real-world goods. Fast facts Square released a white paper on Friday detailing how the platform would work. The white paper was released on the GitHub community for contributions. The protocol “facilitates decentralized […]
The Scandinavian country is concerned with potential environmental harm, while the debt-laden SE Asia nation seeks to regulate.
Chinese cryptocurrency mining rig maker Canaan doesn’t seem to shy away from running its own mining business in Kazakhstan despite a power shortage situation in the Central Asian nation, which has become a popular destination for Chinese miners amid China’s clampdown on the sector. Fast facts Canaan announced today it has started joint mining operations […]
How blockchain technology can usher in the next stage of the internet and social media, through decentralized hosting and integration with cryptocurrency.
More than 85 members of the WEF Digital Currency Governance Consortium contributed eight white papers on CBDC and stablecoins.
Crypto market cap plunges as South Korean banks head into metaverse
The securities markets regulator ordered $3.85B in fines, while new actions included ‘emerging threats’ in the crypto industry.
Every morning at Upbit, the nation’s largest cryptocurrency exchange, a brief and odd surge in random altcoin prices takes place. Which crypto will it be tomorrow?
Bitcoin continued its downtrend today to reach a low of $55,861, its lowest price this month. The world’s first cryptocurrency has dropped by 18.6% since reaching a fresh all-time high of over US$69,000 last week. Bitcoin’s price low comes amid struggles in the overall crypto market, which has lost over US$400 billion from its total […]
Joining the slew of cryptocurrency exchanges that have completed investment rounds in recent months, New York-based cryptocurrency exchange Gemini this week announced the close of a US$400 million funding round led by Morgan Creek Digital, bringing the company’s valuation to US$7.1 billion. Fast facts Investors in the funding round — which was Gemini’s first-ever outside […]
The U.S. Internal Revenue Service — the department responsible for collecting tax revenue — seized US$3.5 billion worth of cryptocurrencies during fiscal year 2021, accounting for 93% all assets seized by tax enforcement that year, according to the agency’s 2021 Criminal Investigation Report released Thursday. Fast facts An agency official said on a call with […]
As interest in the metaverse continues to gain pace, big names in entertainment including Snoop Dogg, deadmau5 and Shaun Neff have joined leading crypto VC firm Outlier Ventures to invest and advise start-ups to accelerate the Open Metaverse. Fast facts Since launching its Base Camp Accelerator in 2019, Outlier Ventures has helped raise over US$250 […]
Acala, a decentralized finance (DeFi) platform built for the Polkadot ecosystem, this week won the first slot in the Polkadot parachain auction with over 32 million DOT (approximately US$1.3 billion) — the native cryptocurrency of Polkadot — contributed by over 81,000 stakeholders. Fast facts The highly-anticipated first Polkadot parachain auction saw a close fight between […]
Taproot unlocks Bitcoin opportunities meanwhile Mintable aims big
While fears of a complete ban on virtual currencies have been dispelled, Indian investors are still in the lurch about what may or may not be allowed.
A few more Chinese cryptocurrency news sites are currently unavailable amid the country’s ongoing clampdown on the sector. Fast facts The website of ChainNews, one of China’s largest crypto news websites, was not available as of press time on Thursday. It tweeted on Nov. 15 that the site will be down for eight to 10 […]
Algorand (ALGO) — the native cryptocurrency of the Algorand blockchain — soared 50% from just under US$1.70 noon Asia time today to a new two-year high of US$2.66, according to CoinGecko data. But the surge was short-lived, with ALGO currently trading just under US$2 as of publishing time. Fast facts Algorand’s surge amidst the wider […]
Singapore-based cryptocurrency trading platform Coinhako has received in-principle approval from the Monetary Authority of Singapore for a digital payment token (DPT) service license — making it the first local native cryptocurrency exchange to announce that it is close to being granted the much-coveted license. Fast facts Coinhako is now working through the conditions of its […]
Seasoned investors are no strangers to the sometimes sudden and extreme ups and downs of the crypto market. Some cryptocurrency prices have been known to fluctuate 20% to 30% within a single trading day. What causes these wild price swings? What you will learn from watching this Forkast.News video: What drives cryptocurrency price movements? How […]
Central banks around the world are exploring digital currencies, writes Aymeric Salley of StraitsX. Here’s why Southeast Asia may be especially ripe for them.
South Korea a metaverse hub, also NFTs go from digital to physical
China’s mining exodus has flowed to the cowboy state that embraces crypto, but it might have to take into consideration the surging power loads.
China may be banning crypto mining activities, but rig makers appear to be spared from the clampdown.
First it was crypto derivatives FTX jumping into the game in Miami. Now Singapore-based Crypto.com has stepped it up a notch by dropping more than US$700 million to rename the iconic Staples Center in Los Angeles to Crypto.com Arena for 20 years, according to the Los Angeles Times. Fast facts This figure makes it one […]
In a speech, Ethereum creator Vitalik Buterin notes the rise in cities experimenting with crypto, DAO and NFTs. What are the possibilities of blockchain cities?
In an eventful Monday, Bitcoin mining company Marathon Digital’s stock price fell on news it is being investigated by the SEC even as it raised millions in debt.
Scams like the Squid Game Token rug pull are every investor’s nightmare. How to avoid hoaxes and not feel like a fool? Forkast.News explains.
The MOBIX marketplace, built on the Fetch.ai blockchain, will enable e-scooter and bicycle users to earn MOBIX reward miles that can be converted to MOBIX tokens.
South Korean financial companies bring investors results a month after their metaverse exchange-traded funds were listed, with one fund gathering nearly $170M in net asset value.
While a significant legislative achievement for U.S. President Joe Biden, the US$1 trillion bipartisan infrastructure bill signed into law on Monday included provisions relating to cryptocurrency tax reporting requirements that has many in the industry nervous. Fast facts As Forkast.News previously reported, provisions were added to the bill as it was being drafted in August […]
China has yet again reiterated its determination to crack down on the cryptocurrency mining sector and revealed today that authorities will focus on state-owned entities engaging in virtual currency mining. Fast facts Wei Meng, a spokesperson of the National Development and Reform Commission (NDRC), the country’s top economic planner, said at a press briefing today […]
As Circle expands into Asia as part of a global expansion plan, what does the investment in a yen-back stablecoin mean for the market?
While the government has yet to figure out the details, a crypto regulatory regime is expected to be released before February.
After shooting to prominence earlier in the year and bringing huge profits to early adopters, earnings for players of blockchain-based game Axie Infinity have dropped below the minimum wage line for most players in the Philippines, according to a recent report by research firm Naavik. Fast facts Using data sourced from the official website of […]
Cryptocurrency prices dropped again this morning Asia time, with Bitcoin and Ethereum trading 7% and 8% lower respectively in 24-hour trading, according to CoinGecko data. In the meanwhile, a new CoinShares report on institutional investing in cryptocurrency found record inflows year-to-date, suggesting that big investors overall are still bullish on crypto. Fast facts Bitcoin — the […]
A crypto investor in Hong Kong was rescued six days after being kidnapped earlier this month when he tried to meet a buyer offline who promised to purchase his Tether tokens.
What are the different kinds of cryptocurrency wallets, and which should you choose? Watch this 3-minute Forkast.News video explainer to find out what’s right for you.
While Ethereum leads the market in smart contracts, Bitcoin’s Taproot upgrade could help the world’s oldest blockchain emerge as a future contender. Here’s why.
A recent survey in South Korea revealed a majority of its wealthier investors are not willing to make investments in virtual assets, due to concerns over experiencing losses. Fast facts KB Financial Group’s Korea Wealth Report 2021 surveyed 400 South Korean citizens with over 1 billion Korean won, or about US$847,816 in financial assets. Out […]
As crypto projects are relocating from China to friendlier shores, it represents ‘huge opportunity’ for Taiwan.