Coinbase, the largest cryptocurrency exchange in the United States, has dropped its plans to launch its high-yield-generating “Lend” product following the U.S. Securities and Exchange Commission’s threat to sue the exchange if they did. Fast facts Coinbase Chief Legal Officer Paul Grewal disclosed in a blog post earlier this month that the company had received […]
The amount of electronic waste generated by the Bitcoin network is comparable to the amount of discarded electronic equipment in a small country like the Netherlands, a study published by the academic journal Resource, Conservation and Recycling states. Fast facts According to the paper, a Bitcoin mining machine can lose 35% of its profit potential […]
Upbit can operate as a virtual monopoly as it becomes the country’s first licensed business to handle cryptocurrencies.
Upbit passes Korea crypto race post meanwhile P2P transactions surge in India
Kyrgyzstan is cracking down on cryptocurrency mining farms that are using power illegally, local media outlet 24.kg reported Saturday, citing a release from the State Committee for National Security of Kyrgyzstan. Fast facts Authorities have spotted over 500 crypto mining farms that were illegally connected to power grids, leading to power shortages, as one set of […]
Binance, the world’s largest cryptocurrency exchange by trading volume, is reportedly now under investigation for possible insider trading and market manipulation by the United States Commodity Futures Trading Commission (CFTC). Fast facts According to a Bloomberg report that cited unnamed sources, investigators from the CFTC — the agency that regulates the U.S. derivatives markets — […]
Black Friday for Korean exchanges while E-CNY launch in final stretch
Most banks distance themselves from virtual asset platforms as the country’s central bank lobbies for a ban.
AVAX and SHIB outperform Bitcoin, which gained in price but shied from the $50K mark.
China’s Inner Mongolia region — once a thriving cryptocurrency mining hub that has enacted a series of measures to rein in the sector — is tightening its crackdown by hiring a contractor to monitor and ferret out mining operations. Fast facts The Inner Mongolia Development and Reform Commission announced on Wednesday a bidding result for […]
It’s hot on Bitcoin Beach and the Twitterverse, but the new legal tender doesn’t have uptake elsewhere in the Central American country.
Under scrutiny around the world, the largest cryptocurrency exchange wants to do a better job engaging with regulators.
AVAX — the native token of the Avalanche blockchain — today surged to a new all-time high of US$68.34, according to CoinGecko data, boosted by news of a US$230 million investment into the Avalanche ecosystem. AVAX has increased by 60% over the past seven days. Fast facts Launched in September 2020, Avalanche is an open, […]
Blockchain research firm sees explosive growth in smart contract-based products that can replace existing financial services.
As Cardano’s Alonzo upgrade goes live, founder Charles Hoskinson of IOHK calls DeFi a ‘bubble.’ How does he think the regulation that is sure to come will reshape DeFi in the future?
Babel Finance, a Hong Kong-based crypto lender and asset manager, today announced it is opening a business headquarters in Singapore named Babel Asia, as the company looks to serve more clients globally. Fast facts Babel Asia plans to serve as a base for future merger and acquisition activities, together with Babel Finance to drive mainstream […]
Canaan reports record revenues meanwhile Korea says no to crypto tax delay
Leading Chinese crypto mining hardware manufacturer attributes robust revenue to ‘substantial increase in total computing power sold.’
Blockchain Association Singapore (BAS) and Singapore’s National Trades Union Congress (NTUC) U Care Fund today announced their inaugural non-fungible token (NFT) charity auction event, Blockchain For Good, which will take place Oct. 4 to 10. Fast facts The charity initiative — supported by a wide range of companies including Singapore Airlines, Amazon Web Services Inc., […]
South Korea’s finance minister Hong Nam-ki gave a firm “no” at the National Assembly to lawmakers asking for crypto taxation to be delayed until the industry is fully prepared. Fast facts Minister Hong insisted the plan to tax capital gains from cryptocurrency transactions should be executed as planned. The amended tax law stipulates that crypto […]
Blockchain-based Service Network (BSN) soft launch is the first attempt to roll out the state-backed ‘internet for blockchain’ outside of the Chinese mainland.
Solana validators complete restart also Laos ends crypto ban
Top blockchain and crypto news: Walmart dispels Litecoin hoax. Cardano’s real work begins. Beijing bears down on NFTs.
SOL had been on a tear but is now losing ground. Is Solana a victim of its own success — or does the network have deeper problems?
The government of Laos has authorized six firms to trade and mine cryptocurrencies, ending a ban imposed in 2018, according to a recent notice from the prime minister’s office. Fast facts Laos had implemented a complete ban on cryptocurrencies three years ago, including on trading and mining activities. As recently as last month, the country’s […]
Software firm MicroStrategy, the world’s largest corporate Bitcoin holder, purchased an additional 5,050 Bitcoins for US$242.9 million at an average price of US$48,099 per Bitcoin. Fast facts Bitcoin was trading 3% lower on Monday, the day of the purchase, at around US$44, 800. The purchase puts MicroStrategy’s total Bitcoin holdings at 114,042 Bitcoins acquired for around […]
FTX hit by hack rumor meanwhile Korea updates crypto death note
Financial authorities reveal an updated list of virtual asset platforms that have complied with new regulations.
Huobi Ventures, the investment arm of cryptocurrency exchange Huobi, today announced the launch of a US$10 million “GameFi” fund to invest in early-stage projects that integrate blockchain gaming and decentralized finance (DeFi). Fast facts Huobi’s new GameFi fund follows the launch of its US$100 million DeFi fund in May and comes amid increasing mainstream interest […]
More provinces in China are putting new limits on the cryptocurrency mining sector, as the country works toward its carbon neutrality goals and concerns over cryptocurrency trading loom. Fast facts Authorities in North China’s Hebei province today issued a notice to crack down on cryptocurrency mining and trading activities, saying that crypto mining consumes huge […]
Scams and fake news have long dogged the crypto world. This week saw two major blockchain companies and a global retailer get swept up by hack rumors or hoaxes.
Ahead of the U.S. Banking Committee’s hearing on the “Oversight of the U.S. Securities and Exchange Commission” today, SEC Chairman Gary Gensler reiterated his call for crypto platforms and projects that have securities to register with the agency. Fast facts In prepared remarks, Gensler emphasized the concerns he sees over the lack of investor protection […]
Institutional investors continued to buy into Solana investment products despite the market correction last week, according to a report by digital asset manager CoinShares. Fast facts Solana prices, which have soared by over 13,000% this year, reached an all-time high of US$213.47 on Sept. 9, according to CoinGecko data. Solana briefly overtook XRP to become […]
CrossTower became the second international crypto exchange to enter the Indian market last week after Binance made its entry by acquiring WazirX in 2019.
E-CNY problems to be solved, also China sees warning over NFT hype
The Miss Universe Thailand 2021 pageant has partnered with Bangkok-based crypto exchange Bitkub to feature non-fungible tokens (NFTs) as part of the competition, Bitkub announced. Bitkub claims the event will mark the first NFT beauty pageant. Fast facts Bitkub will mint NFT collectible cards of the pageant contestants. The company also will provide participants with […]
In this Forkast.News explainer, learn why blockchains with smart contract capability are surging in popularity and the new darlings of investors.
The platform reports more users than WazirX and CoinDCX, and aims to make crypto trading as easy as ordering food online.
Crypto in 2021 is like the early days of the internet, writes Hisham Khan of Aldrin. Here’s why the quality of user experience will decide the industry’s future.
Why is Axie Infinity so popular, and what is the potential of play-to-earn gaming? Two venture capitalists share insights on Asia’s special place as GameFi’s hub.
Cardano smart contracts set for Sunday also CrossTower launches in India
Payments giant Mastercard announced it is extending its reach into the realm of cryptocurrency with the acquisition of CipherTrace, a blockchain analytics startup, for “greater security, transparency and trust to digital assets across the ecosystem.” Fast facts CipherTrace, which calls itself the world’s first blockchain forensics team, provides cryptocurrency tracking and investigation services. It launched an […]
Cardano’s Alonzo hard fork will bring smart contracts and NFT support to the world’s third-largest blockchain. What will it mean for the crypto market?
Two of Australia’s “Big Four” banks — National Australia Bank and Westpac — have hit back at criticism they are suppressing competition by refusing to do business with cryptocurrency providers in the country, according to a report. Fast facts While neither of the banks have formal policies excluding crypto businesses, NAB chief executive Ross McEwan […]
A Canadian-American citizen, who laundered tens of millions of dollars for cybercriminals including North Korea’s military intelligence agency hackers, has been sentenced to 11 years in prison, the U.S. Department of Justice announced. Fast facts Ghaleb Alaumary, 36, pleaded guilty to money laundering in 2020 and has been asked to pay US$30 million in restitution […]
Football giant Paris Saint-Germain (PSG) today announced a multi-year partnership agreement with Hong Kong-based cryptocurrency exchange Crypto.com that will see the exchange become the Parisian club’s official cryptocurrency platform partner. Fast facts PSG competes in Ligue 1, the top division of French football, and its star-studded team includes forwards Lionel Messi, Kylian Mbappé and Neymar. […]
El Salvador’s Bitcoin embrace may be a domino for some emerging markets, but a fierce rival to the BTC is also coming to the fore.
Algorand’s ALGO cryptocurrency prices have surged by 90% over the past seven days, crossing the US$2 mark and hit a two-year high of US$2.44 today, according to CoinGecko data. ALGO, ranked the 17th largest cryptocurrency by market value, has not seen such price heights since its launch in 2019. Fast facts Algorand is an open-source, […]
At the risk of losing billions, crypto industry officials weigh options to oppose authorities.
Korea crypto damage assessed meanwhile Initium’s news based NFTs sell out
C.R.E.A.M. Finance, a Taipei-based decentralized finance (DeFi) lending platform, on Sept. 8 announced its support of six metaverse and non-fungible tokens (NFTs) that will allow users to borrow and lend against the assets. Fast facts NFTs, unique digital assets whose authenticity and ownership are tracked on a blockchain, have seen exponential growth over the past […]
China-based Bitmain, one of the world’s biggest producers of cryptocurrency mining rigs, has sealed a deal with its United States partners — ISW Holdings and Bit5ive — to expand its operation in America. Fast facts ISW Holdings, a Nevada-based portfolio company with extensive crypto mining operations, will host 56,000 Bitmain mining rigs and pair them […]
Ripple wants to know how SEC regards Bitcoin, Ether and XRP, but SEC says Ripple is repeating the same questions as ‘they do not like the answers they received.’
Initium Media, also known as 端傳媒, is turning to blockchain technology to grow revenue and to ensure controversial news does not get forgotten — or tampered with.
As the debate over cryptocurrency’s carbon footprint rages on, leading bitcoin miner Blockstream is developing new zero-carbon Bitcoin mining facilities in partnership with Australia-based financial services giant Macquarie Group, according to a company blog post. Fast facts The first pilot site will be in the U.S. where Blockstream will leverage Macquarie’s experience in green investments […]
Following crypto’s adoption in one struggling economy, nations in Latin America and elsewhere are now weighing the pros and cons of digital currency
As non-fungible tokens break into the mainstream, experts advise buyers to do research and watch for a correction.
What was internet censorship like in the early days, how has it changed, and what role does decentralization play.
Have DeFi exploits on BSC hindered the blockchain’s success? NFTs and gaming offer a boost.
Bitcoin price plunges however Metaverse actions heats up in China
Top blockchain and cryptocurrency news: El Salvador’s BTC experiment. EthereumMax and the power of celebrity. Hong Kong shores up regulatory oversight.
Despite significant losses across the board, industry experts are not too concerned, seeing the plunge as normal market behavior.
Crypto platform CEO claims regulators use ‘intimidation tactics behind closed doors’ by refusing to provide clarity.
An official from Hong Kong’s Securities and Futures Commission said on Tuesday that the regulator wants to increase oversight of virtual assets because scams related to them have emerged in the market, according to a report by local media etnet. Fast facts Julia Leung, deputy chief executive officer at SFC, said Tuesday at a webinar […]
What are the different kinds of blockchain, and how do they compare? Learn all about public, private and permissioned platforms in this Forkast.News explainer.
The Central American nation opens up the next chapter in the history of the world’s biggest cryptocurrency.
Solana hits all-time19 high as FTX’s NFT marketplace spammed
FTX is the latest crypto exchange to join the NFT bandwagon. “Make your own NFTs,” CEO Sam Bankman-Fried tweeted.
Hyperithm, a crypto investment trust company in South Korea, acquired an Information Security Management System (ISMS) certification — a requirement Korean authorities say every virtual asset operating business must secure. Fast facts Hyperithm is the first virtual asset brokerage in South Korea to be certified for information security by a public institution. Hyperithm’s announcement shows […]
Charles Randell, chairman of the U.K.’s Financial Conduct Authority and chair of the Payments Systems Regulator, singled out celebrity influencer Kim Kardashian in his latest speech for endorsing a relatively unknown and unregulated token. Fast facts In June, Kardashian endorsed EthereumMax, a project launched by unknown developers in May 2021. Kardashian, wife of rapper Kanye […]
Bitcoin sees first positive institutional inflows in 8 weeks; Bitcoin, Ethereum, Solana lead inflows
The institutional investment tide has turned for Bitcoin, which saw US$59 million in inflows last week, according to CoinShares, Europe’s largest digital assets fund manager. It was Bitcoin’s first inflows in eight weeks — signaling improving investor sentiment toward the world’s most popular cryptocurrency. Fast facts Digital asset investment products saw inflows of US$98 million […]
Korean exchanges offered lifeline while NFL bans crypto sponsorships