Cold comfort: Is Crypto Winter the right time to invest in Web3?

Amid the current crypto market carnage, Web3’s appeal for investors remains solid — and perhaps even stronger — says CVP NoLimit Holdings founder Gin Chao.

Hong Kong crypto exchange AAX has lost most staff, unlikely to reopen, says former executive

The exchange has gone silent since pausing withdrawals and liquidating all futures positions, with users fearing a repeat of the FTX collapse.

NFT sales rise for first time in 7 months in November despite crypto price slump

NFT investors seemingly see opportunities in a month full of surprises and headwinds for the broader cryptocurrency market.

Sam Bankman-Fried points blame for FTX collapse to Alameda, says he was blindsided

Bankman-Fried beamed into New York from the Bahamas to give his version of what happened at FTX, mentioning his own failure of oversight and being “frankly surprised” by what was going on at his company’s sister brokerage.

It’s time for more institutions to adopt blockchain and crypto: Opinion

Despite the myriad benefits of blockchain and cryptocurrency, institutional interest remains mixed in Asia Pacific. What lessons should the industry learn from 2022 to overcome the barriers to adoption?

Grayscale holdings questioned amid crypto investment giant’s silence

Top blockchain and crypto news: Grayscale’s cryptic reserves. Binance rides to the rescue? China hit by protests and digital dissent.

S.Korea requests warrant to bring Terra-Luna cofounder Daniel Shin into custody

A court in South Korea will review if prosecutors are allowed to arrest and bring Terraform cofounder Daniel Shin and seven others into custody, for charges including fraud.

Diverging paths of two CEOs running FTX’s Alameda Research may meet again in court

Employee accounts of life at Sam Bankman-Fried’s flagship cryptocurrency trading arm Alameda Research paint a picture of overworked and inexperienced millennials running a ship headed for the rocks: one seemingly escaped.

S. Korea’s Wemade files injunction against country’s top 4 crypto exchanges

The blockchain game maker fights delisting of its symbolic WEMIX crypto token.

CeFi must adopt DeFi’s transparency following FTX collapse, Justin Sun says

Justin Sun says CeFi must adopt DeFi’s transparency to regain public trust as 1inch Network cofounder Sergej Kunz sees crypto’s struggles as an opportunity for DeFi.
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BlockFi files for bankruptcy protection, set to sue Sam Bankman-Fried over collateral

The cryptocurrency lender was hit by the earthquake set off across the industry by the collapse and bankruptcy of the FTX crypto exchange this month, and other companies are looking vulnerable.

Bitcoin price follows slide in Asia equity markets amid growing China protests against Covid-19 lockdowns

Reports of civil disobedience, protests and clashes with the police in cities and universities in China are unnerving financial markets in Asia

Sam Bankman-Fried could face decades in jail if convicted of law violations in FTX collapse, lawyers say

The former CEO of the collapsed crypto exchange “needs to keep his mouth shut” and stop making public comments that could be used against him in future court cases, lawyers tell Forkast.

S.Korean Wemade’s stock falls 30% after exchanges announce WEMIX token delisting; CEO blames Upbit exchange

The delisting poses a great obstacle to the game maker’s growing blockchain empire, while Wemade’s CEO blames the crypto exchange

Question: How do financial rules work when rogue individuals run companies? Answer: Not very well.

Calls for tougher rules on cryptocurrency have been echoing ever louder through the offices of global financial regulators since the collapse of the FTX exchange. But the firm did not invent dodgy business practices, so what can regulators and the industry do?

Chinese mafia forcing Filipinos to work for crypto scams, says Philippine Senator

The organized crime gangs victimize both the trafficked and those that get scammed, according to the official

The crash and burn of FTX: What lessons does it teach us?

As FTX victims and creditors sift through the pieces, how much of this blowup should regulators have seen coming — and could it happen again?

Genesis jitters keep investors on edge as contagion risks grow

Top blockchain and crypto news: Fear stalks crypto as Genesis wobbles. FTX cleanup begins. China’s NFT scene shrinks.

At FTX’s first bankruptcy hearing, lawyer calls out ‘substantial amount’ of missing, stolen assets

In the first day of FTX’s bankruptcy hearing, FTX counsel says the organization was run as ‘personal fiefdom’ of Sam Bankman-Fried.

S.Korea’s top regulator says digital assets, virtual assets are different

While the crypto industry grapples with the definition of blockchain-based digital tokens, South Korea wants to nail down the terminology.

Bitcoin price falls to more than two-year low amid growing concerns about FTX fallout

Investors are unnerved by the possibility of more failures among companies linked to the now bankrupt FTX exchange, fearing a repeat of the Terra-Luna stablecoin collapse in May that also brought down other businesses.

FastForkast headlines

Coinbase CEO Armstrong says Bankman-Fried’s US$8 bln ‘accounting error’ doesn’t stand up

Sam Bankman-Fried ‘not sure’ if he will testify before Congress on Dec. 13

Crypto exchange Bybit to cut 30% of staff to ‘navigate market slowdown’

DeFi protocol Ankr to buy US$5 mln of BNB to cover funds lost in exploit

MetaComp becomes the latest crypto exchange to receive Singapore license

S.Korea court to settle MIR4 maker Wemade, WEMIX legal battle

Coinbase disables NFT transfer on iOS app, citing hefty in-app fees

Terra cofounder Daniel Shin makes court appearance for arrest warrant review

Sam Bankman-Fried says not aware of any improper use of funds in FTX downfall

FTX collapse will blunt activities of North Korea hackers, analyst says

Troubled Hong Kong crypto exchange AAX unlikely to reopen, says former executive

South Korea’s Shinhan Bank starts ‘metaverse’ services, according to local media

U.S. crypto exchange Kraken to lay off 30% of its workforce, cites ‘market conditions’

Telegram plans decentralized crypto exchange, wallets following FTX collapse

Binance re-enters Japan with acquisition of regulated Sakura Exchange BitCoin

Markets: Bitcoin rises, Ether leads gains across most top 10 non-stablecoin cryptos

FTX’s LedgerX prepping US$175 mln for bankrupt parent firm

Dominica releases ‘world’s first’ national crypto token with Huobi, Tron

Digital Currency Group receives offers to buy CoinDesk: report

Coinbase wallet ends support for ETC, BCH, XRP, XLM

FTX to resume paying wages

ECB’s Christine Lagarde: Further crypto regulation ‘absolute necessity’ following FTX collapse

Kraken pays over US$360K to US Treasury to settle Iran sanctions allegations

Markets: Top 10 crypto fall as BlockFi enters bankruptcy, macroeconomic concerns spread

LINE’s crypto exchange BITFRONT announces closure, to suspend trading by 2023

Nigeria seeks distinction between digital assets and crypto 

Changpeng Zhao says Binance has ‘no negative balances involved’ in proof of reserves

Australian fintech firm launches new AUD stablecoin, AUDE

Binance releases proof of reserves

MetaMask says “we changed nothing” in response to criticism update collects more user data

Singapore police say they are investigating crypto lender Hodlnaut on fraud allegations

Binance says it will set up US$1 billion ‘recovery’ fund for distressed crypto businesses

Binance CEO Changpeng Zhao says he should have tweeted sooner about FTX woes

Crypto exchange Bybit establishes US$100 million fund to aid institutional clients

Russia plans launch of national crypto exchange

India’s CoinDCX crypto exchange publishes proof of reserves

Markets: Bitcoin, Ether extend gains; Solana leads rise across most top 10 cryptos

Disgraced FTX founder SBF to speak at New York Times Dealbook Summit despite controversy

Markets: Bitcoin, Ether rise as Fed minutes suggest an easing in interest rate hikes

Coinbase CEO reaffirms exchange’s BTC holdings after CZ’s tweet

Crypto mining firm Foundry to buy mining sites from embattled Compute North

New York State passes two-year moratorium on some crypto mining facilities

Markets: Bitcoin, crypto rise as FTX contagion fears ease

Crypto exchange Bitget to expand workforce by 50%, registers in Seychelles

Warren Buffet’s Berkshire Hathaway warns of scam crypto site with same name

Huobi plans Southeast Asia, Europe, Caribbean expansion

China’s foreign exchange bureau urges stronger legislation to regulate crypto trade

Thai crypto exchange eyes Hong Kong for possible public share sale in 2024: report

US senators urge Fidelity to drop BTC retirement plan after FTX collapse

FTX alleged hacker is moving funds to dodge authorities: analysts

Binance says it will hire 600 by year end, bring total employees to 8,000