US bill set to demand know-your-customer from crypto companies
Top blockchain and crypto news: US senators push for crypto KYC. SBF faces the music in US courts. Alibaba Cloud to launch blockchain node.
Will Bitcoin’s true value prevail in 2023?
As crypto investors move towards self-custody following FTX’s collapse, Brian Paik wonders whether it could teach people the true value of Bitcoin, beyond hype and price speculation.
BlockFi asks U.S. bankruptcy court to unfreeze accounts for some of its users
BlockFi, an early victim of the financial contagion caused by the collapse of the FTX cryptocurrency exchange, said it wants to return assets locked up in its bankruptcy proceedings.
Bankrupt Voyager Digital says it accepted Binance bid for assets valued at US$1 billion
The deal will need approval in a court hearing on January 5 and also faces a vote by creditors under Voyager’s chapter 11 bankruptcy filing.
What the FTX collapse means for the future of crypto
Centralized exchanges releasing ‘proof of reserves’ is not enough to win back users, while improving user experience will be key, writes Holger Arians of Banxa.
Venture capital firms slow Web 3.0 investments as investors turn cautious
Several venture funds tell Forkast they have become conservative and are only investing in ‘true believers’ of Web 3.0
Safe as houses? How tokenizing real estate offers a new approach to bricks-and-mortar investment
Putting property on-chain is a novel way of opening up opportunities for investors and landlords alike. The second article in Forkast’s three-part series on real estate tokenization explores what they stand to gain.
US lawyers, Bahamas liquidators trade barbs over who rules FTX bankruptcy jurisdiction
Sam Bankman-Fried has reportedly made a second application for bail in the Bahamas – this as lawyers feud over control of the FTX bankruptcy, raising concern the sour grapes may seep into efforts to have Bankman-Fried extradited to face fraud charges in the U.S.
US Senator Elizabeth Warren submits crypto know-your-customer bill in wake of FTX collapse
As U.S. prosecutors line up charges against Sam Bankman-Fried, the founder of the collapsed FTX cryptocurrency exchange, Senator Elizabeth Warren is seeking to pass bipartisan regulation to rein in the “dark underbelly” of the crypto industry.
Sam Bankman-Fried in Bahamas police custody, faces criminal charges in U.S.
Top blockchain and crypto news: SBF denied bail, US extradition likely next. The Block chief quits over secret FTX loans. Hong Kong readies digital asset rules.
FTX an ‘old-fashioned embezzlement’ says new CEO as US authorities charge Bankman-Fried with fraud
Members of a U.S. Congressional hearing expressed frustration about the timing of Bankman-Fried’s arrest, saying they wanted him to testify under oath so the public could get the answers they are seeking about the collapse of FTX.
Crypto market implosions, bankruptcies bring sweeping job losses … and opportunity
By some estimates, job cuts in the cryptocurrency-specific industry are running at about 30-40%, which means tough times for employers and employees, and compensation packages are also taking a hit.
Sam Bankman-Fried arrested in Bahamas — could other FTX executives be next?
The fall from grace: Once one of the most admired figures in crypto, the former head of the FTX exchange is unlikely to see his Bahamas penthouse anytime soon after being arrested Monday on U.S. charges that are expected to lead to his extradition.
Why local currency stablecoins are needed in non-US countries
Stablecoins in USD are becoming the digital world’s default currency — which burdens ordinary crypto users and monetary policies in smaller nations, writes Wei Zhou of Coins.ph.
Coniferous crypto: What the industry must do next to weather this winter
Crypto is weathering this year’s extreme turbulence so far. But its long-term health will require the sector’s urgent attention to regulation, education and security, writes Oliver Linch, CEO of Bittrex Global.
South Korea’s Wemade shares drop, WEMIX token plunges after delisting verdict
The South Korean blockchain game maker’s WEMIX cryptocurrency will be removed from the country’s four major cryptocurrency exchanges that collectively account for more than 95% of the country’s crypto trading volume.
Bankman-Fried may face subpoenas if he does not testify
The embattled founder of failed cryptocurrency exchange FTX may be subpoenaed if he declines to testify at the two hearings on the platform’s meltdown in Washington DC next week.
FTX failure a ‘wake-up call’ for security, says former Mt Gox CEO Mark Karpeles
Before the FTX implosion there was Mt. Gox, an exchange that oversaw 80% of all Bitcoin trades before it collapsed in 2014. In this exclusive interview with Forkast, former Mt. Gox Chief Executive Officer Mark Karpeles says what he sees in store for the industry in 2023 in the wake of the FTX bankruptcy.
AAX’s future in doubt amid staff exodus and FTX contagion
Top blockchain and crypto news: AAX teeters on the brink. SBF hints at Congressional hearing no-show. Chinese court boosts NFT legitimacy.
Bitcoin mining difficulty drops more than 7% as cash crunch hits miners
Miners face a liquidity crunch as cryptocurrency prices slide, with the world’s largest publicly-listed miner, Core Scientific, saying it may run down its cash reserves by the end of this year.
DeFi regulation: it’s not a matter of if, but when
The push to regulate DeFi is stronger than ever, and the sector would be wise not to fight but participate in that inevitability, writes Michael Shing of XREX.
Will the next wave of FTX victims be unwitting tax cheats?
When a crypto exchange fails, will your transaction records vanish, too? Here’s why investors should take responsibility over their own trading data.
S.Korean prosecutors mull second request of arrest warrant for Terra cofounder Daniel Shin
Seoul judge dismisses prosecutors’ request for arrest warrant for Terra’s Daniel Shin, derails their plan to investigate Shin in custody