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February 2024

BitForex exchange halts, US$56 mln outflow sparks exit scam fears

Crypto exchange BitForex suspends operations without explanation, following a US$56 million withdrawal, raising concerns of a potential exit scam.

Circle ends USDC support on TRON network

USDC halts TRON support, aligning with Circle’s IPO plans.

MetaMask boosts security with Blockaid’s privacy module

MetaMask partners with Blockaid to enhance security for over 30 million users.

STRK trading begins amidst massive airdrop event

Starknet distributes 728 million STRK tokens, with initial trading volatility.

Worldcoin’s WLD token hits record high as users surpass 1 mln

Worldcoin’s record surge comes on the back of OpenAI’s new text-to-video tool, Sora.

Animoca brings 3 crypto wallets onto its Mocaverse network

Animoca Brands announces partnerships with OKX Wallet, Crypto.com DeFi Wallet, and Halo Wallet, elevating the user experience in the Mocaverse network.

Aptos joins the Web3 phone business after Solana’s success

New cryptophone by Aptos and Jambo priced at US$99 targets customers in Africa, Southeast Asia and Latin America.

STRK token launch targets 1.3 mln users, US$1 billion valuation

StarkNet’s upcoming token airdrop could become the largest in history.

DN404, a new hybrid NFT standard challenges ERC-404

The NFT landscape evolves with DN404, a fresh rival to the ERC-404 standard.

Solana’s second smartphone hits 100,000 pre-orders

The blockchain company’s latest mobile venture for a US$450 pre-order price per phone brings in US$45 million for Solana.

ERC-404 frenzy drives Ethereum gas to eight-month peak

The rise of ERC-404 tokens brings a new dimension to the Ethereum blockchain, blending the characteristics of ERC-20 and ERC-721 tokens.

OSL and UBS pioneer first tokenized warrant transaction in Hong Kong

Fusing traditional banking and blockchain, OSL collaborates with UBS to execute Hong Kong’s first transaction of a tokenized warrant on the Ethereum.

Sara Stratoberdha named new CEO of CoinDesk

Bullish, the cryptocurrency exchange, announces Sara Stratoberdha as CoinDesk’s new leader, emphasizing the platform’s commitment to unbiased and independent journalism under new ownership.

Ethereum sets March 13 for Dencun upgrade

The Ethereum network is poised for a significant upgrade this March, with the Dencun update focusing on proto-danksharding.

Ethereum staking hits milestone: over 25% of supply now locked

Despite the Shapella upgrade allowing withdrawals, Ethereum’s proof-of-stake transition continues to attract validators, with over 30 million Ether staked.

Jack Dorsey’s BlueSky now open for all

BlueSky, the decentralized social media platform by Jack Dorsey, opens its doors to the public.

Solana logs back in after a five-hour outage, SOL rebounds

Solana, a blockchain that has been plagued with outages in the past, had its first network interruption in almost a year.

BNB Chain highlights DeFi, gaming and AI in 2024 roadmap

The “One BNB Paradigm” aims to streamline BNB Chain’s ecosystem, focusing on DeFi, gaming, and AI.

January 2024

Classic Doom revived on Dogecoin network

Gamers can now play Doom directly on the Dogecoin blockchain, merging nostalgia with modern tech.

Algorand CEO’s social media account hit by hackers

Algorand community warned as CEO’s social media falls prey to hackers.

Swan Bitcoin debuts mining operations ahead of IPO

Swan Bitcoin steps into mining ahead of halving as it prepares for a stock market debut.

Terraform Labs Seeks U.S. bankruptcy shield

Do Kwon-founded Terraform Labs files for Chapter 11 bankruptcy in the U.S.

Bitcoin mining’s green mile: 54.5% sustainable energy use

Bitcoin mining now more eco-friendly than ever, reaching a 54.5% sustainable energy usage.

Bitfinity valued at US$130 mln ahead of launch

With its recent US$7 million funding, Bitfinity wants to enhance Bitcoin’s utility in DeFi and NFTs.

Hedera, Algorand unite for wallet recovery

The DeRec Alliance, involving HBAR and Algorand Foundations, aims to solve digital asset recovery challenges with a new protocol.

Musk’s social media X halts NFT hexagon avatars

Social media platform X, under Elon Musk, quietly removes NFT profile picture feature, aligning with broader tech industry trends.

BNB Chain Fusion may unify BEP-2 and BEP-20 by 2024

BNB Chain’s merger plans aims for a seamless and secure blockchain by April 2024

November 2023

Let’s use Web3 to grow projects that fight climate change

The most promising carbon offset programs can still wither and die from financing distress. Blockchain technology can help them survive and bear fruit.

Creator economy, AI & the move to half a trillion dollars

Welcome to Forkast IQ, presented by Forkast’s Megha Chaddah, where we look beyond the headlines to get you insights that power smarter decisions. In this special edition, Forkast News spoke to one of the leaders of the Web3 industry, Yat Siu, co-founder and chairman of Animoca Brands.

Blockchain can transform the real estate business — if we remove the roadblocks in its way

From reducing paperwork to verifying title quickly, blockchain technology promises to overhaul the age-old industry. But it faces regulatory hurdles and resistance by those who profit from inefficiency.

UK & EU push ahead on stablecoins, HK approves another crypto exchange & Apefest marred by complaints

The UK’s crypto hub dream is coming to life while some attendees of Apefest 2023 in Hong Kong complaint on severe eye pain post-event.

Grassroots crypto adoption to follow real-world use cases, says Chainalysis APAC policy lead

Blockchain-based gaming and remittances among top drivers toward adoption in central and South Asia.

Binance introduces self-custody Web3 wallet

Binance said it aims to onboard the next billion Web3 users with its new wallet.

What we can learn from the sunsetting of Reddit’s crypto rewards program

Reddit’s shortsightedness and fixation on profits ultimately led it to pull the plug on Community Points. But here’s why Reddit should still be commended.

SBF convicted on all charges, Hong Kong buzzes with Web3 events

SBF is found guilty of fraud, Hong Kong hosts Fintech Week, Neo advances Web3, Backpack launches NFT exchange, and more.

Nomura-backed Komainu partners Crypto Garage for institutional crypto services

The collaboration aims to build institutional crypto services in Japan.

How blockchain can fortify children’s online safety

Colossal failures in online age verification have opened the floodgates for kids to access harmful content and become ‘friends’ with adult strangers. Can encrypted decentralized IDs put a stop to all that?

October 2023

Web2 social media is in a race to the bottom. Web3 can do better

Platforms like Facebook, Reddit and the hot mess formerly known as Twitter are alienating users like never before. ‘Web3 doesn’t let you be a dick and get away with it,’ writes Joonatan Lintala, CEO of Phaver.

Mastercard explores partnerships with crypto wallets MetaMask, Ledger: CoinDesk

Mastercard’s potential tie up with custody service providers may turbocharge crypto wallets’ growth with its global payments prowess.

Parity Technologies, Polkadot blockchain developer, lays off 30% of staff

Parity CEO Björn Wagner said that despite the need for layoffs, the company’s financial health “remains robust.”

Dark Side of the $MOON: What the collapse of Reddit Community Points teaches us about Web3 tokenomics

To quell the uproar over the imminent death of a popular rewards program, Reddit is blaming ‘scalability’ and regulatory woes. But the real culprit is Reddit itself for failing to make its tokens sustainable, writes Fabio Galbi, CEO of VSC.

Astar, Startale Labs announce Web3 partnership with Japanese telecom giant, KDDI 

Astar Network and Startale Labs partner with Japanese telecom giant KDDI to boost Web3 adoption.

Wallet Wars’ raW Pass NFTs sells out in 5 minutes

Wallet Wars, a Space Invaders-inspired game with a Web3 twist: upgradeable NFT spaceships.”

SUI Foundations denies supply manipulation allegations

SUI fell to a new all-time low on Wednesday following supply manipulation allegations, which the Sui Foundation denies.

Solana Foundation partners with DMCC Dubai

The SOL token rose over 5% in the 24-hour after the partnership was announced.

Digital frontiers: Alex Tapscott on Web3, AI, and banking’s new dance

From tech monopolies to the synergy of AI and blockchain, Alex Tapscott, author of “Web3: Charting the Internet’s Next Economic and Cultural Frontier,” dissects the trajectories of the digital landscape.

Blockchain’s 2 billionth user could be an AI, says Joe Lubin

The CEO of blockchain services provider Consensys and co-founder of Ethereum spoke to Forkast at the Token 2049 crypto conference in Singapore. He discussed decentralization and what he sees as the crucial role to be played by blockchain in AI and vice-versa.

Clay Nation launches Cardano-Polygon NFT bridge in The Sandbox 

Clay Nation, a project of 10,000 non-fungible tokens (NFTs), announced the launch of a new blockchain bridge for Cardano and Polygon networks in The Sandbox metaverse.  See related article: DOJ seeks to block Bankman-Fried from bringing up Anthropic fundraise in court Fast Forkast See related article: NFT creators seek alternatives after OpenSea cuts royalties

SBF trial kicks off, Singapore gives crypto licenses as blockchain data comes to rescue

Welcome to Forkast IQ, presented by Forkast’s Megha Chaddah, where we look beyond the headlines to get you insights that power smarter decisions.

HKEX to launch smart contract settlement platform

Hong Kong Exchanges and Clearing Limited (HKEX) announced on Wednesday that it is implementing a smart contract upgrade to its Connect, a system that bridges Hong Kong and China’s stock markets, to enhance post-trade workflows and reduce settlement risk. See related article: SFC to monitor illegal VATP activities with Hong Kong Police Force Fast Facts […]

CMCC Global raises US$100 mln to launch Hong Kong Web3 fund

CMCC Global, a Hong Kong-based blockchain-focused venture capital fund, announced Wednesday that it raised US$100 million to launch the “Titan Fund.” See related article: SFC to monitor illegal VATP activities with Hong Kong Police Force Fast Facts See related article: Valkyrie CIO expects US spot Bitcoin ETF approval in Q2 2024 (Update adds comment from […]

To succeed, Web3 must become human-centered

Web2 may be easier than ever to use, but its users are plagued by personal data theft and other security risks. Here’s how Web3 can do better.

Silver Lining? Google Cloud’s head of Web3 talks Big Tech possibilities for the blockchain

At the Token 2049 crypto conference in Singapore held Sept. 13 to 14, Google Cloud’s James Tromans spoke to Forkast about a possible marriage between Webs 2 and 3.

Chainalysis cuts 150 employees 

Chainalysis, a New York-headquartered blockchain intelligence firm, is reportedly laying off about 150 employees, or approximately 15% of the 900 staff members. See related article: ‘There’s no doubt we picked a side here’ — Chainalysis founder Michael Gronager talks analytics, Ukraine and crypto adoption in Asia Fast Facts See related article: Bitwise to launch two […]

September 2023

Quantum computing is coming out of the shadows. Web3 should be scared

Quantum computers may one day crack the cryptographic algorithms that underpin everything from Bitcoin to digital IDs. What can be done to secure Web3’s future?

‘There’s no doubt we picked a side here’ — Chainalysis founder Michael Gronager talks analytics, Ukraine and crypto adoption in Asia

In the second in a series of 1-on-1 interviews from the Token 2049 crypto conference in Singapore held Sept. 13-14, Michael Gronager, founder of blockchain analytics firm Chainalysis, spoke to Forkast about crypto use in the Ukraine conflict, tracking illicit on-chain activity and digital asset adoption in Asia.

Have we learned anything from Curve Finance and DeFi’s susceptibility to attacks?

The DeFi giant may have escaped a death spiral, but exploits and code problems like what it recently suffered are more commonplace — and preventable — than what the industry acknowledges.

PayPal’s stablecoin is a big step forward for crypto’s legitimacy but not much yet for the cause

PYUSD’s launch is injecting much-needed trust into crypto’s turbulent landscape, but its current form does not come with any of the benefits of real crypto, writes Danny Chong, co-founder of Tranchess.

AI, Asia and analytics — an interview with Nansen’s Alex Svanevik

Blockchain analytics are key to understanding the nascent crypto industry. But the analysis sector is far from immune from the pressures of the ongoing crypto bear market. In the first of a series of 1-on-1 interviews from the Token2049 conference held in Singapore Sept. 13-14, Alex Svanevik, CEO of blockchain analytics firm Nansen, sat down with Forkast to discuss current crypto challenges, the Asia growth market and the increasing use of artificial intelligence in the industry.

HK’s SFC & US SEC crack the whip as Blockchain Week rocks Manila

It’s a week for regulatory enforcement in the cryptocurrency space as blockchain takes center stage in the Philippines.

Adding AI to Web3 will spark a Cambrian explosion of innovation — but not anytime soon

Blockchain and AI’s synergistic combination will create technology beyond today’s wildest imagination. But true AI-Web3 integration remains a difficult affair.

How Singapore is redefining Web3’s public-private landscape

Now a top-ranked crypto hub, Singapore is a shiny example of the central role that government can play in nurturing industry growth while bolstering consumer protections.

Friend.tech a surprise hit among crypto investors at Token2049 as they urge ecosystem expansion

Funders see the novel social media network as emblematic of an abundance of opportunity in crypto and DeFi amid infrastructure gaps and increased integration with real-world assets

Crypto and Formula One’s honeymoon is over, can Web3 save a rocky marriage?

The third installment of Forkast’s ‘Crypto in Sport’ series comes from Singapore, which this week plays host to Formula One’s Singapore Grand Prix. Crypto companies poured hundreds of millions of sponsorship money into F1 at the height of the bull market, but might a prolonged crypto winter pull the plug on this marriage of convenience? Or can diversification and real world use cases help breathe new life into the relationship? Welcome to crypto’s very own drive to survive.

Half a world away — Gary Gensler’s SEC dominates discussion at Singapore’s Token 2049

Billed as Asia’s largest crypto event, Token 2049 took place over Sept. 13-14 in the Southeast Asian city-state of Singapore. Drawing over 10,000 attendees from all parts of the world, there was excitement about blockchain adoption in the region. But repeat references to one man were a reminder of the U.S. regulatory concerns weighing heavily on the crypto industry.

Nepal central bank plans CBDC within two years, crypto and stablecoin still excluded, says spokesperson

It has been more than a year since Nepal’s central bank, the Nepal Rastra Bank, initiated amendments to the law to enable the issuance of the digital version of the Nepalese rupee. What is the status of its CBDC?

Gaming blockchain Oasys partners Japan telco KDDI’s αU Wallet, αU Market in Web3 push

Oasys, a blockchain-based game development platform, will team up with non-fungible token (NFT) marketplace αU market and cryptocurrency wallet αU Wallet – a crypto wallet by KDDI, one of Japan’s top three telecom companies – for users to trade NFTs on the αU market. See related article: Weekly Market Wrap: ETF developments bolsters Bitcoin above […]

Advice for Web3 projects: Your reputation is as important as your runway

Web3 companies often focus on building their tech above all else, but poor public communications can undermine all the work they do.

How the metaverse can expand the mindscape for human connections

Socializing in a virtual world has been around for 20 years but remains a niche pursuit. Will AI and the new generation of digital natives make it mainstream?

India’s G20 presidency has failed to advance global crypto governance, ex-finance secretary says

With nine months under its G20 presidency belt, India’s approach to cryptocurrency governance remains static. Amid regulatory ambiguity, the nation’s crypto industry struggles to cope with stringent tax rules.

Grayscale wins against SEC as India moves on blockchain; Friend.tech loses friends

Welcome to Forkast IQ, presented by Forkast’s Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions.

How crypto can help Africa reap greater yields — of the agricultural kind

Assisted by blockchain and AI, small farmers can make better use of data for more bountiful harvests. But adapting to new technology isn’t always easy.