Criminal activity in cryptocurrency was more resilient than legitimate uses despite the downturn in the crypto market in 2022, according to a new report by blockchain data aggregation firm Chainalysis. See related article: Chainalysis says $2 bln stolen in cross-chain bridge hacks this year, more expected Fast facts Illicit transaction volumes are down just 15% […]
Top blockchain and crypto news: Eqonex shutters exchange operation. Huobi denies sale report. Taiwan beefs up cyber defenses.
Forty top corporations invested about US$6 billion into blockchain startups between September 2021 and June 2022, according to an analysis by blockchain data platform Blockdata. As some investments involved participation from multiple investors, Blockdata said it was not clear how much each company invested in one particular project. See related article: Korea Blockchain Week points […]
Jump Crypto, the crypto arm of high-frequency trading firm Jump Trading Group, announced on Tuesday plans to develop a new open source validator client for the Solana network to boost throughput and reliability. See related article: Solana validators complete restart; Laos ends crypto ban Fast facts Jump Crypto will “propose a major upgrade to Solana’s […]
Monero completed its hard fork for a network upgrade on Saturday in an attempt to add more privacy to transactions on the protocol. See related article: Ransomware attacks are growing in sophistication. What can stop them? Fast facts Monero Sunday said that the network is “now more private and efficient with ringsize 16, Bulletproofs+, and […]
Follow the money? Korea Blockchain Week concludes this weekend in Seoul and one of the overarching themes is enthusiasm for blockchain-based gaming as the key to opening up a Web3 world to a broader audience.
Pantera Capital-backed Injective Labs has raised US$40 million to be used to create blockchain optimized for financial applications, it said in a statement. See related article: Singapore DeFi derivatives exchange SynFutures closes US$14M fund raise Fast facts The funding round was led by Jump Crypto and BH Digital, the crypto arm of hedge fund manager […]
After high-profile cyberattacks on decentralized apps, the blockchain industry is in a hurry to ramp up security. Sam Sangmin Seo, head of Klaytn, tells Forkast that minimizing human error may be the key.
Binance will support Ethereum’s “Merge,” expected in September, and will evaluate if it would list any newly forked tokens, the world’s largest cryptocurrency exchange by trading volume said on Wednesday. See related article: USDC, Tether announce support for Ethereum proof-of-stake Fast facts Binance said it is closely monitoring the development of the merge, which could […]
Crypto’s volatility may be top of mind right now, but blockchain’s practical uses will be the industry’s future, writes Johannes Schweifer of CoreLedger.
Indian crypto exchange CoinSwitch has introduced a Web3 Discovery Fund with initial capital of US$10 million to back early stage startups. See related article: CoinSwitch Kuber launches rupee index for Indian crypto market Fast facts The Web3 Discovery Fund will curate portfolio startups and provide single-window access to marquee investor partners, such as Tiger Global, […]
Blockchain analytics firm Chainalysis says cross-chain bridges that allow transfer of assets between independent blockchains are among the highest risk protocols in the blockchain industry for scams and bad actors. Chainalysis in a new report estimates that US$2 billion worth of cryptocurrency has been stolen from cross-chain bridges across 13 attacks so far this year, […]
The current bear market is an opportunity for blockchain developers to focus on building while there is no “noise,” Polygon cofounder Sandeep Nailwal said during a panel at Korea Blockchain Week 2022 on Monday. See related article: MATIC crypto skyrockets as Polygon joins Disney accelerator Fast facts “In the bear market, the best part is […]
How does a centralized internet browser plan for a decentralized future? Reinvention, and finding a receptive audience. First stop, Southeast Asia.
Sam Sangmin Seo, the head of South Korea’s Klaytn Foundation, says blockchain technology plays a crucial part in metaverse technology because it provides interoperability between different metaverses. See related article: Kakao’s Klaytn partners with OpenSea for NFT expansion in Asia Fast facts “Blockchain can provide means to implement virtual economy in the metaverse,” Seo said. […]
American Bitcoin mining firm Riot Blockchain earned an estimated US$9.5 million in power credits in July as it reduced energy consumption and mined fewer Bitcoins. See related article: Bitcoin miners in Texas halt operations amid heat wave Fast facts Riot produced 318 Bitcoins in July this year, about 28% less than July last year, thereby […]
Forkast x CryptoSlam! are proud to present Moments in NFT History — an explainer video series hosted by Forkast’s Joel Flynn that gives you a front-row seat to history-in-the-making. The business of music is a painfully difficult thing to pursue, especially for those trying to parlay passion into profit. But blockchain technology might just be […]
India’s government doesn’t like cryptocurrencies and has made that clear in statements and with heavy taxes on the asset class, but what does that say about blockchain adoption?
Monday’s attack on Nomad indirectly affected Cardano users as the protocol was one of multiple bridges deployed to Milkomeda C1, a layer 2 protocol which allows Ethereum decentralized apps (dApps) to be deployed in the Cardano ecosystem, Milkomeda said. See related article: More than 300 addresses said to perpetrate Nomad’s US$200 mln exploit Fast facts […]
More than 300 bad actors stole US$191 million from Nomad’s cross-chain bridge which resulted from a software upgrade that backfired, crypto analytics firm PeckShield told The Block on Tuesday. See related article: Nomad Bridge alerts law enforcement amid US$200 mln attack Fast facts A routine software update on one of Nomad’s smart contracts allowed users […]
In an update to its followers on Tuesday evening Asia time, cross-chain bridge Nomad said it is working to identify the attacker and recover the funds after an exploit drained nearly US$200 million on Monday. See related article: Nirvana’s ANA token down more than 80% after US$3.5 mln hack Fast facts “We are working around […]
Chiliz (CHZ) cryptocurrency jumped as much as 25% on Monday evening in Asia after announcing a US$100 million investment in FC Barcelona’s Barça Studios for a 24.5% stake in the soccer club’s digital content and distribution hub. See related article: South Korea’s Ifland metaverse dives into play-to-earn Fast facts Under the partnership, Socios.com and Chiliz […]
As the once febrile crypto market cools, it’s time to look again at the enterprise capabilities of blockchain, says the Hyperledger Foundation’s Daniela Barbosa
A lack of certainty over future regulation and a long lockdown in Shanghai are pushing some Chinese Web3 companies to set up shop in Singapore.
Forkast x CryptoSlam! are proud to present Moments in NFT History — an explainer video series hosted by Forkast’s Joel Flynn that gives you a front-row seat to history-in-the-making. We’ve talked about NFTs being turned into sports memorabilia, but what comes after? Well, in this episode, we are quite literally talking about epic sports moments. […]
Venture capitalists (VCs) poured at least US$17.5 billion into the crypto and blockchain industry in the first half of this year, Reuters reported, citing PitchBook data. See related article: Blockchain, crypto investment soars in H1 2021 Fast facts VC investments in blockchain and crypto startups topped US$26.9 billion in 2021. North American startups were at […]
Male-dominated workplaces, lack of proper educational resources, challenge women and act as barriers for them to engage in Web3.0, according to a survey by KuCoin. See related article: NEAR Foundation, Forkast partner to showcase talented, socially mindful women in Web3 Fast facts Despite challenges, 60% of female professionals recognize their unique value in facilitating better […]
FOMO Pay will partner with Ripple, the San Francisco-based blockchain payments company, to utilize its XRP-based tool that enables instant low cost settlement without the need to hold pre-funded capital in a destination market, the Singapore based company said. See related article: CrossTower in pact with Ripple to offer NFTs on XRP Ledger Fast facts […]
Sumitomo Mitsui Financial Group (SMBC Group), which runs one of Japan’s largest banks, said Friday it will work together with blockchain startup HashPort to develop non-fungible token (NFT) and Web3 projects. See related article: PSG sells US$220,000 NFT tickets for first Japan tour in 27 years Fast facts SMBC and HashPort plan to set up […]
Despite some recent progress, the Web 3.0 industry is still coming up short on women’s participation, says NEAR Foundation chief Marieke Flament
The partnership will celebrate the progress, impact and innovation of exceptional women leaders across the globe.
Polygon, the Ethereum layer 2 scaling network, Wednesday said it is launching the testnet of its highly-anticipated zero-knowledge (ZK) rollup dubbed Polygon zkEVM, in what it called “a giant leap forward for Ethereum scaling and ZK innovation.” See related article: What is Polygon (MATIC) — ‘Ethereum’s internet of blockchains’? Fast facts In a series of […]
Dubai aims to be one of the top 10 cities globally in the metaverse economy, creating 40,000 virtual jobs and adding US$4 billion to the city’s economy in five years. See related article: Dubai could be crypto’s promised land, Citi says Fast facts The launch of the Dubai Metaverse Strategy on Monday was aimed at […]
Digital assets are powering new industries, and DeFi will be the financial system of the future internet economy, writes Alex Tapscott in his new book, ‘Digital Asset Revolution.’
Crypto trading volumes plummet as the crypto winter continues. Meanwhile, India calls on G20 to share information on crypto.
The country’s major game developers continue to focus on overseas markets as there are no signs of a thaw in the government’s stance on games that include elements of blockchain and play-to-earn.
Hyundai Motor unveiled a non-fungible token (NFT) membership program for its new electric vehicle (EV) IONIQ 6, which unlocks exclusive access to Web3 content to holders, according to a press release. See related article: Hyundai Motor drives into metaverse branding with Meta Kongz NFT project Fast facts The IONIQ Citizenship includes access to VIP rights […]
Ethereum’s ninth shadow fork went live overnight Wednesday in Asia, marking one of the final steps before the merge with the proof-of-stake (PoS) Beacon Chain as part of the network’s transition to Ethereum 2.0. See related article: Vitalik Buterin defends Ethereum ahead of merge; ‘not a security’ Fast facts A shadow fork is a test […]
Polygon was selected as one of the 2022 participants for Disney’s accelerator program on Wednesday, triggering the project’s cryptocurrency MATIC to rise by more than 15%. See related article: Aespa, NCT’s SM Entertainment builds metaverse studio Kwangya Fast facts The Walt Disney Company did not announce any of its own crypto projects, but the 2022 […]
The Shanghai government has included metaverse entertainment, non-fungible tokens (NFTs) and Web3 technologies into its five-year digital economy plan, according to a policy paper published on Tuesday. See related article: ‘Metaverse’ enters government radar at China’s Two Sessions Fast facts See related article: Xiamen reveals plan to bolster its metaverse, NFT-related firms
Lightspeed India Partners (LSIP) announced on Tuesday the closing of a US$500 million early stage fund (LSIP Fund IV) for India and Southeast Asia, as part of venture capital firm Lightspeed Venture Partners’ (LSVP) US$7.1 billion commitment. See related article: Huobi Ventures bets on DeFi and gaming in $10M GameFi fund Fast facts In addition […]
GameStop has launched its non-fungible token (NFT) marketplace, allowing artists, gamers, content creators and community members to buy, sell and trade NFTs, the video game retailer announced on Tuesday. See related article: eBay acquires NFT marketplace KnownOrigin Fast facts The marketplace can be accessed through Web3 wallets such as the GameStop Wallet unveiled in May. […]
South Korean payment services platform Danal has partnered with LG CNS to develop a payments network that hopes to bring Web3-related digital assets payments to the existing financial system. See related article: South Korea’s SK Telecom to build its first Web3 wallet Fast facts LG CNS is an information technology consulting and solutions subsidiary of […]
Crypto trading platform CrossTower has partnered with Ripple to add non-fungible tokens (NFTs) minted on the XRP Ledger (XRPL) to its marketplace. See related article: China’s ‘Instagram’ gets into virtual fashion with users strutting NFT clothes Fast facts The partnership will significantly lower the costs and entry barrier for creators who want to mint their […]
Singapore wants to attract institutional capital while shielding its people from crypto — but it can’t have it both ways, writes Donovan Choy.
SK Telecom has partnered with blockchain firms AhnLab Blockchain Company and Atomrigs Labs to develop and operate a digital wallet for cryptocurrency management and Web3 access, the South Korean telecommunications giant announced on Monday. See related article: South Korea’s second-largest conglomerate to issue own cryptocurrency Fast facts SK Telecom said users of its wallet will […]
Celsius deployed over US$1 billion of assets in decentralized finance (DeFi) and incurred over US$350 million in losses, according to a report by blockchain analytics firm Arkham Intelligence. See related article: Celsius repays debts, cuts jobs amid bankruptcy fears Fast facts Celsius handed over about US$530 million in corporate funds to an asset manager who […]
A large number of Japanese Web 3.0 companies are moving to or at least setting up new offices in Singapore, executives from Japanese blockchain gaming infrastructure builder Oasys told Forkast on Friday. See related article: Japan’s government approves policy to drive Web 3.0 adoption Fast facts Japanese firms operating in the Web3 sector need to […]
Decentralized autonomous organizations are spinning off new ways to bring communities together. Will ecosystem DAOs be the wave of the future?
Bad mortgages once dragged the world into a financial crisis. Can smart contracts prevent the worst from happening again?
In February 2020, Canadian banks froze assets of truckers protesting against vaccine mandates called Freedom Convoy. This is known as financial censorship and it can happen to anyone. Can decentralized crowdfunding combat financial censorship? Find out in this Forkast video explainer. What you’ll learn: How financial censorship highlights the downsides of centralized crowdfunding. How Freedom […]
Notwithstanding this bear market, Web3’s more pressing issue is its inability to handle large volumes, writes Greg Gopman. Can sidechains offer a solution?
Web 3.0 company Polium’s plan to make the world’s first “multi-chain gaming console” to support games across different blockchains is an ambitious goal that has met a chorus of skepticism. See related article: What is Axie Infinity and how is it ushering in gaming 3.0? Fast facts Polium, a startup that first announced its plans […]
With NFT trading volumes slumping and regulators stepping in, Vignesh Sundaresan, who paid US$69 million for a Beeple artwork, shares his views on the space.
Lack of public trust remain a big barrier to crypto adoption, writes Tristan Roozendaal. Here’s why regulators should ‘move fast and break things.’
The big data market had an estimated value of US$162.2 billion in 2021, where most of the revenue came from personal data. As centralized online platforms are generating eye-watering revenues from users’ digital footprints, data owners and producers get nothing in return. Can blockchain-based Web3 identity return personal data ownership to users? Find out in […]
Sky Mavis’ Ronin Bridge is back online after one of the largest decentralized finance (DeFi) heists in history prompted a three-month network hiatus, Ronin announced in a Tuesday newsletter. See related article: Are we helpless against attacks on blockchain bridges? Fast facts Ronin Bridge is used by non-fungible token (NFT) game Axie Infinity players to […]
HTC launched metaverse phone “Desire 22 Pro” on Tuesday, which comes with a digital assets wallet and virtual reality (VR) headset pairing feature, as part of the Taiwanese firm’s Web3 expansion. See related article: Solana bets on mobile, launches US$1,000 ‘Saga’ Web3 phone Fast facts HTC preloaded its 6.6-inch phone with applications from its metaverse […]
Harmony’s Horizon cross-chain bridge is now the third of its kind to suffer a major hack this year. What are the alternatives that may be more secure?
HTC is expected to launch a new mobile phone with metaverse features on Tuesday, as the virtual reality (VR) gear and smartphone maker continues its Web3 expansion. See related article: Smartphone giant Huawei doubles down on blockchain technology Fast facts In a tweet earlier in June, HTC’s VR and metaverse arm Viverse teased a phone-shaped […]
The Federal Bureau of Investigation (FBI) and multiple cybersecurity companies have started investigating the US$100 million hack on Harmony Protocol’s Horizon cross-chain bridge. See related article: Axie Infinity hack proceeds continue to be laundered despite US sanctions Fast facts Harmony Protocol announced it was attacked on Friday morning Asia time, adding it had alerted exchanges […]
One door closes and another opens, which seems to be what’s happening in Singapore as the crypto price slump restructures the trading environment.
The Reserve Bank of India (RBI) has launched a blockchain-based trade financing pilot project in collaboration with top lenders including HDFC bank, ICICI Bank and State Bank of India, among several others, Economic Times reported, citing unidentified sources. See related article: India FM: RBI to issue blockchain-based digital rupee Fast facts Belgium-based SettleMint, U.S.-based Corda […]
Solana on Thursday launched a Web 3.0 phone dubbed “Saga” in a move to tap into the burgeoning number of mobile phone users accessing digital assets. See related article: Solend DAO overturns vote to take over at-risk ‘whale’ wallet Fast facts The Android mobile phone by Solana Mobile, a unit of Solana Labs, is “tightly […]
E-commerce giant eBay has acquired U.K.-based non-fungible token (NFT) marketplace KnownOrigin, the company announced in a press release on Wednesday. See related article: Alibaba Cloud launches service to build NFT marketplaces Fast facts According to the press release, both companies signed and closed the deal on Tuesday, but the purchase price and further details on […]
Did you know that average global transactions cost up to 6.5% in remittance fees? This can even go up to 20% for certain countries. Some developing nations pay up to US$600 billion in remittances every year. Could blockchain offer a better option for cross-border transactions? Find out in this Forkast video explainer. What you’ll learn: […]
Most banks offer short-term loans for emergency situations. But what about the 1.7 billion adults around the world with no access to banking services? Can blockchain offer an alternative solution? Find out in this Forkast video explainer. What you’ll learn: How lack of banking infrastructure affects underdeveloped regions. How blockchain can democratize access to banking […]
Despite its rising popularity, GameFi has lessons to learn from Web 2.0 and elsewhere before it can gain a comparable user base, says Ethlas chief Wui Ngiap Foo.