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

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

FastForkast headlines

U.S. crypto miner Core Scientific files for Chapter 11 bankruptcy, continues to mine Bitcoin

FTX says it has over US$1B in cash assets

Retail-owned Bitcoin supply reaches all-time high

Bitcoin miner Greenidge strikes deal with NYDIG to restructure debt

FTX founder Sam Bankman-Fried set to return to the U.S. on Wednesday

South Korea freezes US$93 mln in assets of former Terra-Luna associates

S. Korea’s Busan city crypto exchange moves ahead without global partners

Bitcoin mining difficulty rises 3.27% in latest adjustment

Sam Bankman-Fried extradition in doubt after confused court hearing in Bahamas

Binance acquires Indonesian crypto exchange Tokocrypto

India’s CoinDCX publishes full proof of reserves

Markets: Bitcoin, Ether little changed after weekend slump; Binance BNB token regains some ground

Hong Kong Stock Exchange debuts ‘Asia’s first’ crypto futures ETFs

Markets: Bitcoin, Ether fall with equities as concerns about recession knock Wall Street lower

Animoca founder says Asia is ‘moving on’ from FTX fiasco

Binance “deliberately” caused FTX collapse, Kevin O’Leary claims

Japan ruling party lawmaker calls for regulatory clarity after FTX debacle

MetaMask partners with PayPal for Ethereum purchases through wallet

FTX collapse not the worst for crypto investors this year, says Chainalysis study

Markets: Bitcoin, Ether strengthen; Solana leads gains in most top 10 cryptos

Terra fugitive Do Kwon has registered address in Serbia: S. Korean local media

Wemade appeals against the court ruling in favor of WEMIX delisting

Markets: Bitcoin, Ether prices rise as November U.S. inflation reading lower than expected

Binance resumes USDC withdrawals amid record stablecoin outflows

Crypto savings, staking products not protected in Hong Kong, finance regulator says

Bitcoin up 5% as U.S. inflation cools in November

Binance ‘temporarily’ freezes USDC stablecoin withdrawals, cites need for NY banks to reopen

SEC charges FTX founder Sam Bankman-Fried with defrauding investors

New FTX CEO says he found ‘utter failure of corporate controls’ at the exchange

U.S. Justice Department mulls charging Binance over potential money laundering violations: report

KuCoin’s BTC, ETH reserves overcollateralized, says auditor Mazars

S.Korea discusses control over crypto listings after WEMIX delisting

The Block CEO resigns after reports of undisclosed loans from Alameda Research

SEC advises public firms to disclose crypto risks

Bankman-Fried’s parents cancel classes at Stanford Law School for next year

Wemade to buyback US$10 mln in WEMIX after delisting verdict

U.S. considering bill to require crypto miners to report carbon emissions

Markets: Bitcoin, Ether prices rise as gains in U.S. equities help cryptocurrencies bounce back

Sam Bankman-Fried probed over Terra-LUNA crash: report

Hong Kong’s virtual asset licensing regime to take effect next June

Markets: Bitcoin, Ether drop as SEC’s Gensler says crypto firms running out of time to comply with securities laws

S.Korea court dismisses Wemade’s injunction, local exchanges to delist WEMIX

Sam Bankman-Fried hires attorney Mark Cohen amid probes of failed FTX exchange

Crypto lender Nexo to quit U.S. market over ‘regulatory unclarity’

Bankrupt crypto lender Celsius gets court approval for extension to file restructuring plan

S.Korea central bank puts hand up to regulate stablecoins

Majority of ‘wealthy’ South Koreans say no plan to invest in crypto, cite lack of trust

Bankman-Fried claims new FTX CEO’s testimony is ‘false’

Australian crypto exchange Swyftx cuts 40% of jobs amid fallout from FTX collapse