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September 2022

Central banks of France, Nigeria latest to join Hyperledger Foundation

Banque de France and the Central Bank of Nigeria will headline the newest batch of eight members joining the Linux Foundation’s enterprise blockchain ecosystem, the Hyperledger Foundation. See related article: Back to the future: Blockchain returns to the real world Fast facts See related article: How enterprises are fueling blockchain adoption among SMEs

SEC seeks to seal information exposing expert witness identities in XRP lawsuit

The U.S. Securities and Exchange Commission has filed a motion seeking to seal portions of the filings that contain information identifying the SEC’s expert witnesses in its lawsuit against Ripple Labs. See related article: SEC, Ripple take XRP lawsuit battle to media as well Fast facts The SEC wrote in the motion on Friday that […]

US$30 mln seized from North Korea hacking group: report

Over US$30 million worth of cryptocurrency stolen by North Korea-linked hackers has been seized by law enforcement, with the help of crypto organizations like the Chainalysis Crypto Incident Response Team. See related article: North Korea behind Ronin hack: US Fast facts This marks the first time that digital assets stolen from North Korean hacking groups […]

Queen Elizabeth artwork NFTs flood into OpenSea marketplace

Demand for non-fungible tokens connected to the late monarch surge along with prices.

Asia banking giant DBS jumps into The Sandbox metaverse

The Singapore-based bank said it will buy land in the metaverse to create the ‘DBS BetterWorld’ and build a virtual community.

Indian finance minister urges IMF to lead crypto regulation

The International Monetary Fund (IMF) should lead the way in global regulation of crypto assets, India’s Finance Minister Nirmala Sitharaman has urged IMF Managing Director Kristalina Georgieva at their meeting in New Delhi. See related article: Crypto regulation has to ‘take its time’: India FM Nirmala Sitharaman Fast facts At their meeting on Wednesday, they […]

WazirX launches coin reports with data from crypto research firms Crebaco, IntoTheBlock

WazirX, India’s largest crypto exchange by volume, has begun to publish data-driven reports for over 200 coins listed on its exchange, with data from  crypto intelligence firms Crebaco and IntoTheBlock.  See related article: TZ APAC, NUS join for blockchain, computing education Fast facts Research reports by Crebaco published on WazirX aim to help readers understand […]

Crypto lender Nexo introduces spot, futures trading

Cryptocurrency lender Nexo has launched a spot, margin and futures trading platform for retail clients with the launch of Nexo Pro. See related article: Nexo and Fidelity Digital Assets expand institutional lending services Fast facts The London-based crypto platform aims to offer retail clients access to institutional-grade aggregated liquidity with no minimum funding requirements, the […]

Regulator alleges Celsius resembled Ponzi scheme in new filing

A financial regulator in Vermont has all but said that bankrupted Celsius Network LLC resembled a Ponzi scheme at times, alleging the crypto lender had used new investor funds to repay previous investors, as well as misled investors about its financial health and bolstered its balance sheets by using its CEL token. See related article: […]

FTX partnership boosts GameStop despite mixed quarterly results

GameStop shares jumped over 11% in after-market trading on Wednesday following an announced partnership with the cryptocurrency exchange giant FTX US, which will focus on “new e-commerce and online marketing initiatives.” See related article: FTX agrees to help South Korea’s Busan build its own crypto exchange Fast facts The announcement came in tandem with GameStop’s […]

Markets: Bitcoin climbs above $19,000, Ether bounces back, BNB gains on staking

Bitcoin rose above US$19,000 on Thursday morning in Asia, recovering along with other tokens in the top 10 by market capitalization after a sharp sell off on Wednesday. Ether moved higher after the Binance exchange, the world’s biggest, said it would offer Ether staking, a move that boosted its own BNB token. See related article: […]

China’s non-crypto blockchain

China’s BSN pushes use of its Spartan Network – a non-crypto blockchain – outside of China.

Binance pushes out USDC in aggressive move to boost its own stablecoin

Top blockchain and crypto news: USDC gets the boot from Binance. MicroStrategy looks for Lightning strikes. STEPN heads to Hong Kong.

RBI asks 4 state-run banks to test digital rupee, in talks with fintech: report

India’s Reserve Bank of India has asked four state-run banks to test its central bank digital currency (CBDC), due for launch this financial year, even as the central bank seeks a ban on cryptocurrency trading in the country.  See related article: RBI is causing crypto hesitancy among Indian banks Fast facts RBI has chosen the […]

World Economic Forum argues for CBDCs, Australia latest to test use-case technology

With over 100 countries experimenting with the technology behind Central Bank Digital Currencies, the World Economic Forum of Davos fame lays out its views on the potential benefits and drawbacks of CBDCs.

Binance halts USDC support; Inflation hits crypto

Binance puts it’s own stablecoin, BUSD, at the forefront. Meanwhile, inflation casts its own shadow across the crypto.

Binance move to remove USDC and others raise questions about market conduct

The world’s largest cryptocurrency exchange said the move was designed to “enhance liquidity and capital-efficiency for users.” 

SK Telecom’s Ifland metaverse adds cashable in-app economy

The Ifland metaverse, run by South Korean telecommunications giant SK Telecom (SKT), is allowing users to earn money by hosting meetups in the virtual world, the company announced Monday. See related article: South Korea’s Ifland metaverse dives into play-to-earn Fast facts SKT has adopted an “ifland point” system to usher in its metaverse economy — […]

Singapore’s DBS commits to crypto offerings despite slump: report

Singapore’s largest bank, DBS, aims to expand its cryptocurrency and digital assets offerings to 300,000 new clients in the face of the crypto bear market, according to a Financial Times report on Tuesday.  See related article: Why DBS’ move into the digital asset space is more than a token gesture Fast facts In an interview, […]

Markets: Bitcoin stuck under US$20,000, Ether edges up, Cardano slides

Bitcoin edged up in Monday afternoon trading in Asia, but it still traded below the US$20,000 resistance line, a level it has now fluctuated around since late August. Ether rose, along with Solana and Polkadot. Cardano reversed morning gains to trade lower. See related article: Markets: Bitcoin, Ether edge up; Cardano, Solana lead gains in […]

S.Korea TV network partners with metaverse gaming platform The Sandbox

MBC (Munhwa Broadcasting Corporation), one of South Korea’s four national television and radio networks, has signed a business partnership with Hong Kong-based metaverse gaming platform The Sandbox, according to its announcement on Friday. See related article: Netflix Sweet Home producer to build K-drama metaverse in the Sandbox Fast facts MBC will create its emblematic Sangam […]

Cardano’s Vasil hard fork upgrade confirmed for Sept. 22

The Cardano blockchain’s hard fork upgrade, Vasil, is scheduled for mainnet on Sept. 22, according to Cardano developer and operator Input Output Global’s (IOG) Twitter announcement over the weekend. See related article: Cardano delays Vasil blockchain upgrade, citing bugs and ‘abundance of caution’ Fast facts “Vasil is the most significant Cardano upgrade to date, bringing […]

Markets: Bitcoin, Ether edge up; Cardano, Solana lead gains in crypto top 10

Bitcoin rose slightly in Monday morning trading in Asia, but the world’s largest cryptocurrency was trading below the key resistance line of US$20,000 after falling below that mark on Saturday. Ether edged up, along with Cardano and Solana, while most other tokens in the top 10 by market capitalization were little changed. See related article: […]

IMF looks to build platform for cross-border CBDC transactions

The director and division chief of IMF’s Monetary and Capital Markets Department will soon publish a paper laying out a blueprint for a platform to support CBDC clearing and settlement transactions between multiple countries. See related article: Inter-country use key for CBDCs to reach potential: report Fast facts See related article: US Digital Dollar Project […]

Markets: Bitcoin, Ether, Cardano, Doge gain; Celsius token jumps amid refund reports

Bitcoin edged above the US$20,000 mark, the price it fluctuated around all week, while Ether rose more than 3% in late afternoon trading in Asia on Friday. Cardano, Dogecoin and Solana all added more than 2%. Celsius rallied over 34% in the past 24 hours. See related article: Bitcoin fluctuates, Ether gains, MATIC jumps on […]

Binance chief Changpeng Zhao reiterates Binance not a Chinese company

Binance founder and CEO Changpeng Zhao reiterated that Binance is not a Chinese company and it “was never incorporated in China,” as the country continues to ban cryptocurrency trading. See related article: Binance to help S. Korea’s Busan build first city-backed exchange Fast facts In a blog post published on Thursday, Zhao wrote that the […]

Binance says it complies with regulators following US anti-money laundering probe report

Binance, the world’s largest cryptocurrency exchange by trading volume, said it has worked with regulatory agencies from around the world to address outstanding compliance questions, following a Reuters report that U.S. federal prosecutors asked the exchange to offer internal records involving founder and CEO Changpeng Zhao for anti-money laundering checks in late 2020. See related […]

Crypto lender Celsius to return US$50 mln to locked out users

Celsius Network Ltd., which has filed for Chapter 11 bankruptcy, has filed a motion to return around US$50 million worth of tokens to a portion of holders as these funds are not part of the bankruptcy estate, unlike funds from Earn and Borrow clients. The hearing on the filing will take place on Oct. 6. […]

Markets: Bitcoin, Ether, Cardano slip; remnants of Terra – USTC and LUNC – jump

Bitcoin slid back down under the US$20,000 mark late afternoon in Asia, with the rest of the top 10 tokens by market capitalization turning lower. Terra’s fallen cryptocurrency surged, likely due to LUNA Classic’s recent network upgrade. See related article: Markets: Bitcoin edges up; U.S. stocks, bonds post worst returns in 5 decades Fast facts […]

Bybit to work with Circle to offer USDC spot pairs

Singapore-headquartered crypto derivatives exchange Bybit is partnering with Circle, the issuer of stablecoin USD Coin (USDC), to offer USDC spot pairs. See related article: Bybit to cut up to 30% of its workforce Fast facts Bybit said on Thursday it will offer Circle’s services to its users by expanding its USDC spot pair listings to […]

MicroStrategy and Michael Saylor sued by District of Columbia for evading taxes

The software enterprise company is accused of helping Saylor misstate his residential address to avoid paying taxes in a district where residents pay the most in federal taxes per capita.

US Digital Dollar Project to work with Ripple on CBDC technical sandbox

The U.S.-based Digital Dollar Project said it will work with Ripple and a few other digital asset firms to launch a technical sandbox program to further study a U.S. central bank digital currency (CBDC). See related article: CBDCs better poised for cross-border payments than Bitcoin, stablecoins: ECB study Fast facts The non-profit initiative announced on […]

LG Electronics to launch Hedera-based crypto wallet

South Korea-based LG Electronics is reportedly preparing to release its first crypto wallet application named “Wallypto” in the third quarter of 2022.  See related article: S. Korea’s Danal, LG CNS to build ‘one-for-all’ Web3 payments platform Fast facts LG Electronics has been running a beta test of the application with developers since August and is […]

How did Big Tech gain such power over our data, and how do we take it back?

Google earns hundreds of billions annually by monetizing its users. Can blockchain return meaningful control over personal data back to the people?

August 2022

Fed’s inflation fight batters crypto market as pressure mounts

Top blockchain and crypto news: Is crypto in for a long cold spell? Ava Labs lashes out at CryptoLeaks claims. China eyes blockchain power trading.

Crypto.com refunded user US$7 million instead of US$68 – took 7 months to realize

Singapore-based cryptocurrency exchange Crypto.com in May 2021 transferred AU$10.4 million (US$7.15 million) to an Australian woman instead of an intended refund of AU$100 (US$68), and took seven months to recognize the mistake, the Herald Sun newspaper reported. See related article: Bitcoin sent by mistake, recipient will not be punished for keeping it: South Korea ruling […]

FTX agrees to help South Korea’s Busan build its own crypto exchange

Busan, South Korea’s second most populous city, Tuesday signed a memorandum of understanding (MOU) with global cryptocurrency exchange FTX to help develop a digital asset exchange. See related article: Binance to help S. Korea’s Busan build first city-backed exchange Fast facts FTX will provide technical and infrastructure assistance to Busan city in establishing the digital […]

Temasek to lead US$100M funding round in Animoca Brands: report

Singapore state-backed fund is leading a US$100 million funding round into Hong Kong-based blockchain and game venture Animoca Brands, Bloomberg reported.  See related article: Singapore’s Temasek says doesn’t own Bitcoin, but prepping for tokenized assets Fast facts Temasek will make the investment through convertible bonds, according to unnamed sources cited by Bloomberg. Temasek has been […]

You what-to-earn?; TradFi’s crypto moves

In today’s episode, we take a deeper dive into x-to-earn concepts and how traditional hedge funds are increasing their crypto exposure.

Crypto lender Hodlnaut placed under creditor protection by Singapore court

Singapore-based crypto lender Hodlnaut has been placed under Interim Judicial Management (IJM), a form of creditor protection, and will now be managed and controlled by interim judicial managers appointed by court order. See related article: Singapore’s central bank says cryptocurrencies have ‘no fundamental value’ Fast facts Hodlnaut said its legal representatives attended the IJM hearing […]

Binance Australia strengthens user protection: report

Binance Australia is tightening its sign-up process for new users, as part of renewed efforts to protect users considered most vulnerable to scams and cyber attacks, according to a report by Binance Australia. See related article: Binance to suspend ETH deposits, withdrawals during “The Merge” Fast facts According to the report, the company’s research and […]

Markets: Bitcoin holds gains; Ether, Avalanche surge; Solana jumps

Bitcoin and Ether added to morning gains in Tuesday afternoon trading in Asia, as most other top 10 coins by market capitalization also rose. Avalanche rebounded after a slump over the weekend following whistleblower allegations that the company paid a law firm to stage litigations and class-action lawsuits against its rivals. See related article: Markets: […]

India’s CoinDCX says it’s hiring to prepare for DeFi expansion

Despite the Indian government’s hostility towards cryptocurrencies, the CoinDCX exchange says more traditional financial products will shift to DeFi platforms.

Bank of Korea to institutionalize ICOs in new crypto law

South Korea will have to institutionalize initial coin offerings (ICO) when establishing its new crypto law, tentatively named the Digital Asset Basic Act, according to the Bank of Korea (BOK). See related article: South Korea’s all-encompassing crypto law is coming — what we know so far Fast facts South Korea’s Financial Services Commission banned ICOs […]

CME Group launches euro-denominated Bitcoin, Ether futures

CME Group — the world’s largest operator of financial derivatives markets, including the Chicago Mercantile Exchange — has launched euro-denominated futures on Bitcoin and Ether. See related article: New US crypto bill seeks to make CFTC top Bitcoin, Ethereum watchdog Fast facts See related article: Here comes the crypto derivatives boom

SEC, Ripple take XRP lawsuit battle to media as well

The ongoing battle between the U.S. Securities and Exchange Commission and Ripple Labs over the latter’s token XRP is playing out not just in a courtroom but in media channels as well. See related article: SEC files no objection to Ripple request to seal non-party identities in XRP lawsuit Fast facts Stu Alderoty, general counsel […]

Operating profit at Upbit parent Dunamu drops 70%

Dunamu, the owner of South Korea’s leading cryptocurrency exchange Upbit, reported an operating profit of 566.1 billion Korean won (about US$419 million) for the first half of this year, a 70% decrease compared to the same period last year. See related article: Dunamu denies making US$100 million off of LUNA Fast facts Dunamu’s consolidated operating […]

FTX CEO: no plan to buy crypto exchange Huobi

Sam Bankman-Fried, CEO of crypto exchange FTX, denied on Tuesday that he has a plan to buy out another crypto exchange, Huobi, after a rumor circulating on Chinese social media said that FTX has acquired the exchange. See related article: FTX CEO: This is the canary in China’s crypto ban coal mine Fast facts “No, […]

What in crypto hell just happened to all your money?

Crypto investors were blindsided when firms like Voyager suddenly froze their accounts. How can we improve digital asset protection in the future?

S.Korea’s internet-only KakaoBank partners with crypto exchange Coinone

South Korea’s internet-only bank KakaoBank has signed a contract with local cryptocurrency exchange Coinone to provide withdrawal and deposit accounts to investors under their real names, per local regulations. See related article: South Korea’s crypto crackdown: What you need to know Fast facts While the partnership deal has been settled, it has not been announced […]

Most crypto “still junk”, JPMorgan’s blockchain lead claims

Excluding a few dozen tokens, most cryptocurrencies are bound to “go away,” according to Umar Farooq, Chief Executive Officer of JPMorgan’s blockchain unit. See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts “Most of crypto is still junk,” he said at the Monetary Authority of Singapore’s Green Shoots […]

SEC files no objection to Ripple request to seal non-party identities in XRP lawsuit

The U.S. Securities and Exchange Commission has decided not to object to Ripple Lab’s request to seal identities of certain non-parties and Ripple employees in the Daubert motions, as its lawsuit against Ripple drags on. See related article: SEC seeks to file up to 90-page long reply to motion in XRP lawsuit Fast facts The […]

Grayscale says XLM, ZEC and ZEN may be securities after SEC inquiry

In recent filings, the crypto asset management firm has said Stellar (XLM), Zcash (ZEC) and Horizen’s (ZEN) native cryptocurrencies may be securities. Grayscale was responding to questions from the U.S. Securities and Exchange Commission (SEC) regarding the company’s crypto trusts. See related article: Grayscale sues SEC over spot Bitcoin ETF rejection Fast facts In its […]

Binance to help S. Korea’s Busan build first city-backed exchange

Global crypto exchange Binance and the city of Busan in South Korea announced a memorandum of understanding (MOU) on Friday to promote the growth of the blockchain ecosystem in the city and the development of the Busan Digital Asset Exchange. See related article: Issue tokens later for growth, not for initial fundraising, advises Binance chief […]

India financial crime-fighters search CoinSwitch crypto exchange

India’s Enforcement Directorate (ED) has searched five premises connected with cryptocurrency company CoinSwitch on alleged money laundering charges, according to a media report. See related article: India’s WazirX says it has no-tolerance policy on illegal activities Fast facts The country’s central agency fighting financial crime conducted searches at residences of CoinSwitch directors and the official […]

Animoca Brand’s Japan subsidiary raises US$45 Mln to invest in NFT

Animoca Brands KK, the Japanese unit of Hong Kong blockchain investment firm Animoca Brands, Friday said it raised US$45 million from the world’s second-largest financial group Mitsubishi UFJ Financial Group (MUFG), and parent Animoca Brands. See related article: Japan’s Mitsubishi UFJ to issue yen-pegged stablecoin: report Fast facts MUFG and Animoca Brands each invested US$22.5 […]

SBF denies FTX Ventures merger with Alameda’s crypto VC

Sam Bankman-Fried, chief executive officer of FTX exchange, denied a recent report by Bloomberg which stated that the venture capital subsidiary under FTX would merge with the VC operations under Alameda Research, a sister company of FTX. See related article: FTX revenue grew 1,000% in 2021 amid booming crypto market: SBF  Fast facts “This seems […]

Huobi-incubated Chinese NFT platform iBox ends international operations

Its operations in mainland China are continuing as normal.

Binance to suspend ETH deposits, withdrawals during “The Merge”

Binance, the world’s largest cryptocurrency exchange by trading volume, said it will suspend deposits and withdrawals for ETH and ERC-20 during “The Merge,” in support of Ethereum’s migration to the proof-of-stake (PoS) model. See related article: Ethereum finalizes start date for Bellatrix upgrade Fast facts Binance said on Thursday that it will do so on […]

Alleged Tornado Cash Developer Alexey Pertsev to stay in jail

Alleged Tornado Cash developer, Alexey Pertsev, was accused of facilitating money laundering through the now-sanctioned crypto mixer. Pertsev will stay in jail for at least another 90 days, a judge in the Netherlands ruled on Wednesday. The developer has not been officially charged with any crime. See related article: Tornado Cash arrest heralds storm season […]

Crypto trader donates US$100,000 to YouTuber fighting defamation suit

Crypto trader Cobie has donated US$100,000 to YouTuber Erling Mengshoel “Atozy” to fight a lawsuit filed against him by Ben Armstrong “BitBoy Crypto”. See related article: Crypto ‘finfluencers’ are attracting a new following — of regulators Fast facts In a Twitter post, Atozy said he was being sued by BitBoy Crypto for a video Atozy […]

SEC seeks to file up to 90-page long reply to motion in XRP lawsuit

The U.S. Securities and Exchange Commission is requesting to file a lengthy reply to its motion that seeks to exclude the testimony of Ripple Labs’ witnesses, as the SEC’s lawsuit against Ripple drags on. See related article: Judge grants Ripple’s request to review videos of SEC officials Fast facts The SEC filed the request on […]

Ant Group, Malaysian investment bank Kenanga develop crypto wealth app

Ant Group, Chinese tech giant Alibaba’s fintech affiliate, has partnered with Malaysian investment bank Kenanga to launch a wealth management app with features to trade cryptocurrencies. See related article: Tencent gets patent nod to use blockchain for missing persons’ notices Fast facts Kenanga Investment Bank Berhad announced on Wednesday that it signed a memorandum of […]

Tether says didn’t freeze sanctioned Tornado Cash addresses so as to not interfere in investigations

Tether Holdings Ltd.,the issuer of USDT, the world’s largest stablecoin by market capitalisation, Wednesday said freezing the sanctioned addresses might interfere with ongoing investigations despite no clear instruction to do so by law enforcement. See related article: Bad actors in North Korea, Russia send record-high funds to crypto mixers Fast facts The U.S. Treasury Department’s […]

Huobi warning issued; Singapore’s blockchain aims

Huobi in hot water after being put on investor alert list. Meanwhile, we take a closer look into crypto regulation in Asia.

Tornado Cash arrest heralds storm season for crypto mixers

Top blockchain and crypto news: Tornado Cash, mixer crash. Cardano’s Vasil vulnerabilities. Canaan earnings buoy expansion plans.

OSL Digital placed a ‘tokenized bond’ in July — what’s next for blockchain securities?

Financial instruments sold and traded on a public blockchain could be the next big thing, so Forkast caught up with OSL to hear about what’s planned.

Nike becomes highest-earning brand for NFT sales

Footwear giant Nike’s non-fungible token (NFT) projects have brought the company’s revenue to US$185.34 million, more than seven times that of luxury fashion brand Dolce & Gabbana, which ranks second in NFT profits, according to the data published on crypto analysis platform Dune. See related article: Touchdown: How ex-NFL players are helping college athletes score […]

Crypto exchange Bitfinex plans new chain split tokens

iFinex Financial Technologies Limited, which operates the Bitfinex cryptocurrency exchange, has announced Ethereum chain split tokens (CSTs) to help prepare for all eventualities as the Ethereum merge nears.  See related article: ‘The Merge’ can make crypto payments mainstream again: Vitalik Buterin Fast facts “The Merge” upgrade involves the Ethereum blockchain’s transition from the proof-of-work (PoW) […]

Huobi Global talking to Malaysian regulator about being put on investor alert list

Huobi Global told Forkast it is working towards being in compliance with Malaysia after its securities regulator put the Seychelles-based cryptocurrency exchange on its investor alert list for operating the digital asset business without proper registration. See related article: Huobi to end crypto derivatives trading in New Zealand Fast facts “We are currently in discussions […]

Coinbase hit with lawsuit over allegedly poor security

U.S.-based cryptocurrency exchange Coinbase has been hit with a class action lawsuit last week over claims the firm allegedly failed to properly secure customers’ accounts, leaving them vulnerable to unauthorized activity. See related article: Coinbase under investigation by SEC, quarterly report reveals Fast facts Filed in the U.S. District Court for the Northern District of […]

Philippines central bank approves two more digital banks

A total of six digital banks are now allowed to operate in the Philippines after the Bangko Sentral ng Pilipinas (BSP) issued Certificates of Authority to UnionDigital Bank, Inc. (UDB) and GoTyme Bank Corporation (GTYME). Read more: Philippine central bank governor says no plan to ban crypto BSP earlier authorized four digital banks namely Tonik […]