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58 articles

July 2022

Celsius bankruptcy deepens chill over crypto sector

Top blockchain and crypto news: Celsius plunges into Chapter 11. Otherside’s promised land. Mixed picture for Chinese NFTs.

Celsius plans repayment options; Bitcoin breaks US$22,000

Celsius says users can settle for cash or go long on crypto. Meanwhile in the markets, Bitcoin breaks US$22,000.

Crypto trading volumes tank; India’s crypto info call to G20

Crypto trading volumes plummet as the crypto winter continues. Meanwhile, India calls on G20 to share information on crypto.

Celsius reveals US$1.2B financial hole; Terra subsidiary investigated

Celsius reveals it has a US$1.2 billion hole in its balance sheet. Meanwhile, a Terra subsidiary is under investigation by South Korean authorities.

Celsius files for bankruptcy after closing DeFi loans

The embattled U.S. crypto lender wants to continue certain operations during the restructuring process but customers will have to wait for the Chapter 11 proceedings to address their claims.

Celsius files for bankruptcy; Crypto unfazed by US inflation

Celsius files for bankruptcy despite having paid off millions in loans. Meanwhile, the crypto market sees green despite US inflation rates.

Questions over Circle’s USDC reserves linger despite assurances

Fresh claims that emerged over the weekend about the status of Circle’s USDC reserves cast doubts on the ability of the so-called stablecoin to maintain its peg. In a deep dive, Forkast examined the allegations and reached out to the company for its version of events.

Will Mt. Gox Bitcoin eruption smother hopes of rapid crypto recovery?

Top blockchain and crypto news: Payback time for Mt. Gox investors. USDC issuer strikes back as critics circle. Chinese bank fiasco hits a nerve.

Three Arrows Capital founder briefly surfaces; Buterin defends Ethereum

A US Judge gave liquidators authority to lay claim to 3AC’s US-based assets. Meanwhile, Buterin defends Ethereum ahead of merge.

Bitcoin below US$20,000; Voyager refund questions

Bitcoin once again falls below the US$20,000 mark. Meanwhile, Celsius pays over US$113 million in debt and recovers more.

Inter-country use key for CBDCs to reach potential: report

For central bank digital currencies to enhance cross-border payments, issuing institutions must take functionality into account to avoid unintended barriers, a joint report by three international financial bodies says.

Why Singapore needs to rethink its approach to regulating crypto

Singapore wants to attract institutional capital while shielding its people from crypto — but it can’t have it both ways, writes Donovan Choy.

CoinFLEX enters arbitration; Mt Gox dump fears

CoinFLEX’s deficit rises to US$84 million as it enters arbitration. Meanwhile, a report claims Celsius Network had lost over US$350 million in DeFi.

Stablecoins, USDC and the ‘Circle of trust’

Investor confidence in stablecoins has plummeted since the Terra fiasco. Circle’s chief of finance assesses how they’re holding up amid a barrage of “FUD”.

Circle says customers could redeem all of USDC in one day

In an exclusive interview with Forkast Editor-in-Chief Angie Lau, Circle Chief Financial Officer Jeremy Fox-Geen said reserves backing the so-called USDC stablecoin are ring-fenced from any potential fallout from the contagion engulfing crypto markets.

Bitcoin briefly above $22,000; Binance Philippines ban urged

Bitcoin briefly returns to the US$22,000 mark. Meanwhile, InfraWatch PH calls for a ban on Binance in the Philippines.

Sam Bankman-Fried’s Voyager debt emerges; Celsius reshuffles board

SBF’s Alameda Research debt to Voyager emerges. Meanwhile, South Korea agrees to cooperate with the US on Terra-Luna investigation.

Vauld buyout talks; Celsius fights against bankruptcy

Crypto exchange Vauld is in buyout talks with Nexo. Meanwhile, other exchanges are in a fight against bankruptcy as Celsius pushes on despite short squeeze.

Three Arrows, Voyager failures raise questions of who is next in crypto fall from grace

The crypto winter is killing off companies that took on big risks when markets were booming. So is this the shakeout all financial markets go through?

MAS mulls crypto limits; Pacquiao’s Pacman NFTs

Singapore’s monetary authority mulls on crypto limits. Meanwhile, Manny Pacquiao drops his NFT collection despite the crypto winter.

Crypto winter hits NFTs; Three Arrows Capital files for bankruptcy

Three Arrows Capital files for bankruptcy in the US. Meanwhile, SBF and FTX agrees deal with option to buy for up to US$240 million.

FastForkast headlines

Crypto trading volumes in India recover

Crypto exchange Zipmex freezes withdrawals

Sam Bankman-Fried says ‘moderately bad’ deals OK during bailouts

Celsius says users can settle for cash at a discount or go long on crypto

Animoca Brands poaches Tencent Insurance arm’s CEO Alan Lau

Binance fined by Dutch central bank for improper registration

India says a crypto ban would require international collaboration

Celsius Network could add to crypto mining struggles

Tencent shuts down one of its NFT marketplaces

Circle’s reserve breakdown shows US$13.58B cash and US$42.12B U.S. Treasurys

Celsius says it owes its users US$4.72B amid a US$1.19B balance sheet deficit

Terra subsidiary used as funds channel for overseas affiliates: report

Huobi applies for trading license with Hong Kong SFC

Crypto exchange Fasset, Mastercard seek expansion in Indonesia

MATIC crypto skyrockets as Polygon joins Disney accelerator

Court gives liquidators green light to claim 3AC assets

Celsius pays off USDC loan on Aave, unlocks over US$41 7 mln in collateral

Animoca Brands ups valuation to US$5.9B despite slumping markets

NFT gallery drops on Tencent’s SEA music app JOOX

Voyager crypto refund plan unconfirmed; fiat to be returned in full

Celsius repays over US$113 mln in debt; recovers US$122 mln in collateral

GameStop NFT marketplace goes live, gets closer to Web3 gaming

CrossTower in pact with Ripple to offer NFTs on XRP Ledger

Binance gets nod from Spain to offer crypto exchange, custody services

Celsius lost over US$350 million in DeFi: report

Celsius crypto bankruptcy saga meets new restructuring lawyers: report

DTI says no legal basis to ban Binance in the Philippines

India’s Directorate of Enforcement said to question crypto exchanges

Philippines think tank calls for ban on Binance

Animoca says crypto winter ‘a great time’ for venture capitalists

Celsius shuffles its board of directors amid liquidity crisis

Voyager faces delisting from Toronto Stock Exchange after bankruptcy filing

China’s BSN says daily NFT transactions surpass Ethereum

Three Arrows Capital contagion reaches Genesis brokerage

Voyager crypto firm loaned US$377 mln to Sam Bankman-Fried’s Alameda Research

Most Indian traders impacted by India’s crypto tax: survey

Nexo in talks to buy out Vauld

Tencent’s music app tests NFT avatars, virtual music room

Can Cardano pack a punch with Pacquiao NFTs?

Crypto lender CoinLoan reduces its daily withdrawal limit by 99%

BlockFi’s deal with Sam Bankman-Fried’s FTX will prioritize clients

Meitu’s Bitcoin, crypto investments down by over US$50 mln

Samsung produces 3nm chips that can be used for Bitcoin mining

Cryptocurrencies a clear danger: India central bank chief

China’s Ant Group, Tencent, Baidu, push for NFT self-regulation

July 2022

Voyager calls time on Three Arrows as crypto fund teeters on the brink

Top blockchain and crypto news: Three Arrows fallout spreads. BIS calls BS on crypto. Chinese regulatory vacuum chills an NFT platform.

Bitcoin Jesus denies default; Celsius fight back planned

Bitcoin CEO Roger Ver denies defaulting on a loan to CoinFLEX. Meanwhile, Youtuber Bitboy takes aim at Celsius Network.

FastForkast headlines

China’s Ant Group, Tencent, Baidu, push for NFT self-regulation

Genesis Trading at risk of nine-figure losses in 3AC contagion: report

Michael Saylor’s MicroStrategy buys more Bitcoin

Tencent launches XR unit to develop ‘benchmark’ VR products