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74 articles

November 2023

Yuga Labs, Magic Eden to launch Ethereum NFT marketplace with enforced royalties

Magic Eden Ethereum will be the first major marketplace to contractually obligate creator royalties.

SBF conviction closes “dark chapter” in crypto: Yat Siu

Siu said this marks the crypto industry’s evolution from the FTX collapse and the Terra-Luna meltdown.

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.

Okto pledges US$5 mln to support Vauld users

The US$5 million fund aims to help Vauld users who can’t withdraw their assets from the platform.

SOL up over 21% in a year since Alameda’s balance sheet hole came to light

SOL rose over 319% in 2023 so far, despite concerns around FTX’s lawsuit.

XRP approved by Dubai’s Financial Services Authority

The XRP token now stands to benefit from legal and regulatory clarity in the DIFC, according to the announcement.

Sam Bankman-Fried found guilty on all charges

Bankman-Fried’s sentencing hearing is scheduled for March 28, 2024.

PayPal subpoenaed by SEC over PYUSD Stablecoin

PayPal said that it is collaborating with the SEC’s request.

PayPal registers crypto service with UK FCA

The registration enables PayPal to advertise its crypto services to U.K. customers.

SBF trial drama fails to dampen Bitcoin’s meteoric October

Top blockchain and crypto news: Bankman-Fried’s memory lapses, betting on the return of NFTs, ETF dreams and Bitcoin’s Uptober

SBF trial enters final stage; Bankman-Fried lied about spending customer funds, prosecutors say in closing arguments

Bankman-Fried trial nears end: defense claims good faith as prosecution alleges misuse of funds.

Circle to cease USDC minting for retail customers

Circle said the account closures do not apply to businesses or institutional Circle Mint accounts.

SBF examined over “cozy relationship” with Bahamian government in fraud trail

This marked Bankman-Fried’s fourth and final day of testimony before Wednesday’s closing arguments.

October 2023

Sam Bankman-Fried’s credibility questioned by prosecutors during cross-examination

Prosecutors pointed out inconsistencies in Bankman-Fried’s public statements before FTX collapsed in a four-hour grilling.

Sam Bankman-Fried’s testimony gets a test run as the defense presents its case

In a rare move, Judge Lewis Kaplan sent the jury home early so he can decide what is and isn’t admissible in FTX founder Sam Bankman-Fried’s testimony.

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.

US spot Bitcoin ETFs — crypto’s silver bullet?

Amid news, fake or otherwise, of an imminent approval for at least one spot Bitcoin ETF, Bitcoin’s price has skyrocketed. Could a year of pain in the crypto industry be over?

Binance loses two more top execs in UK and France

Global regulatory pressure on the world’s largest exchange continues to take its toll.

Philippines’ Coins.ph may have lost US$6 million worth of XRP in hack: The Block

Coins.ph, a cryptocurrency exchange based in the Philippines with millions of users, appeared to have lost 12.2 million XRP tokens, The Block reported on Friday.

Is TradFi’s entry into DeFi a turning point or a sign of greater battles ahead?

The pillars of Wall Street are muscling their way into crypto and decentralized finance. Who stands to benefit the most?

Bitcoin briefly rallies above US$30,000 following Grayscale’s new ETF application

Bitcoin gained over 10% this past week, boosted by Grayscale’s renewed spot Bitcoin ETF application.

Dubai’s crypto boom, Australia’s rules & Binance’s battles

Web3 leaders gather in the Future Blockchain Summit in Dubai and we take a deep dive on the woes of crypto’s largest exchange, Binance.

Binance says it signed agreements with new euro banking partners 

Binance announced it has secured new fiat partners for euro services after its former partner cut ties with the exchange last month.

SEC drops all charges against Ripple’s CEO Garlinghouse and co-founder Larsen

The XRP token rose over 6% on the day after the SEC dismissed the charges against Ripple’s top executives.

Prosecution winds up case against Bankman-Fried ahead of six-day pause in trial

FTX’s former general counsel Can Sun testified he was “shocked” by $7 billion in missing customer funds as the prosecution’s case starts to draw to a close.

Grayscale files for new spot Bitcoin ETF on NYSE Arca

Grayscale said that its fund is ready to operate as an ETF upon regulatory approval.

Gemini, Genesis, DCG sued by New York Attorney General

The lawsuit alleges that the companies defrauded over 230,000 investors.

Coinbase taps Ireland as European hub ahead of MiCA regime

Coinbase said that the regulatory clarity MiCA provides to the industry is “hugely welcome.”

Binance’s rollercoaster week: expansion, setbacks, and the ghost of FTX’s collapse

Top blockchain and crypto news: Is Japan a new frontier for Binance? AI art sweeps NFT sales. ETF buzz electrifies Bitcoin.

Lightning Labs to enable stablecoins on Bitcoin ecosystem with Taproot Assets

Taproot Assets will “accelerate the process of bringing Bitcoin to those billions of people,” according to Lightning Labs.

UK emerges as world’s third-largest economy in terms of crypto transaction volume: Chainalysis

The U.K. is also listed as the 14th economy on Chainalysis’ Global Crypto Adoption Index.

Over 40% of Hong Kong investors shun digital assets post-JPEX Scandal, survey reveals

The survey aimed to measure the public attitude towards virtual asset investments, following the JPEX incident.

FTX top lieutenant Nishad Singh bought US$3.7 million house after learning about the exchange’s misuse of customer funds

Nishad Singh testified he bought a house a month before FTX’s collapse despite learning of the exchange’s misuse of customer funds weeks prior.

Binance freezes over 100 accounts on Israeli police request: Financial Times

Israeli police requested information on 200 additional crypto accounts.

Binance.US suspends USD withdrawals

Users can still withdraw cryptocurrencies, according to the exchange’s updated terms of use.

Binance Japan — death knell or savior for the nation’s smaller crypto exchanges?

Few tokens and too many exchanges are a bad recipe for Japan’s smaller crypto trading houses. The experts say there’s room for up to five only. So what happens to the little guy now that the world’s largest exchange Binance has rolled back into town?

OSL exchange’s HK$1 billion sale is “factually inaccurate,” says BC Technology

OSL’s parent firm said investors should exercise caution due to the “unusual movement” in the company’s stock price.

Binance halts new user registration in the U.K.

The exchange added that it will also stop releasing new products and services in the country.

Fake BlackRock ETF news prompts US$57 mln in Bitcoin long liquidations

Bitcoin briefly spiked to US$29,388 after the fake post, before tracing back the gains.

FTX exec Nishad Singh testifies on Bankman-Fried’s ‘excessive’ and ‘flashy’ spending

FTX co-founder Nishad Singh testified on Bankman-Fried’s “excessive” spending including political donations coordinated in a group chat titled “Donations Processing.”

Upbit Singapore receives in-principal license from MAS

Singapore’s major payment institution license will enable Upbit to continue offering regulated digital asset services while awaiting its full license.

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.

Mastercard’s Ciphetrace VP discusses decade-long maturation of cryptocurrency

Crypto is “part of the future,” said Melissa Wisner, vice president of crypto risk at Ciphertrace, during her panel discussion at D3 Bahamas.

Weekly Market Wrap: Bitcoin falls below US$27,000 following CPI and Israeli conflict

Bitcoin was subdued by the mounting geopolitical concerns around Israel’s war with Hamas and the ongoing FTX lawsuit.

Caroline Ellison told Alameda Research about FTX user deposits last November: Cointelegraph

Alameda Research reportedly did not know about the misuse of FTX user deposits until last November.

Russian hackers may be behind FTX hack: Elliptic

The research firm said that on-chain data point toward Russian hackers, instead of the previously-suspected North Korean Lazarus Group.

Israel-Palestine crisis: Navigating the intersection of conflict, aid and blockchain

Top blockchain and crypto news: Gaza tensions, digital tremors, NFTs are not dancing in September, Joe Lubin talks traditional system’s twilight.

Coinbase Q3 trading volume drops 52% from last year

The current crypto bear market caused Coinbase’s trading volume to drop to levels not seen since 2020.

Digital assets are here to stay, Bahamas prime minister says

Bahamian Prime Minister Philip Davis said the island nation will continue to be a pioneer in the digital asset space.

FTX collapse helped the evolution of crypto regulation, says Bahamas securities regulator

FTX’s collapse and the crypto winter helped regulators familiarize themselves with the rapidly evolving crypto industry, said Christina Rolle of the Bahamas Securities Commission.

Sam Bankman-Fried planned to raise money from Saudi crown prince, Ellison testifies

Caroline Ellison details how Sam Bankman-Fried planned to raise capital from Saudi Crown Prince Mohammed Bin Salman as FTX struggled to repay lenders.

BlackRock shares go digital on JPMorgan’s Onyx blockchain

JPMorgan’s Onyx blockchain showcased near-instant collateral transfer in BlockRock’s tokenized share transaction with Barclays.

Philippines Coins.ph partners with Circle for USDC remittances

Coins.ph joins forces with Circle to introduce USDC remittances, targeting a more efficient and affordable money transfer solution for millions of Filipinos abroad, supporting the UN’s goal of trimming remittance costs by 2023.

Brazilian congressional committee calls for Binance CEO Zhao’s indictment 

The congressional committee accused Changpeng Zhao and three other executives, along with 45 individuals, of running a financial pyramid scheme in the country.

Former Alameda CEO Caroline Ellison testifies in ex-boyfriend Sam Bankman-Fried’s trial

Caroline Ellison, Sam Bankman-Fried’s ex-girlfriend and former CEO of Alameda Research, details how the trading firm took around $14 billion from FTX customers to repay lenders.

Bitmain reportedly suspended employee salaries from September

Bitmain, one of the world’s largest Bitcoin application-specific integrated circuit (ASIC) manufacturers, has suspended employee salary payments from September, according to a Tuesday report by China-based tech news outlet Leiphone. See related article: Hamas crypto donation accounts frozen by Israel police Fast Facts See related article: CMCC Global raises US$100 mln to launch Hong Kong […]

Binance users in Hong Kong hooked by US$450,000 phishing attacks

The Hong Kong police warned on Monday that 11 Hong Kong-based Binance users lost over US$446,000 (HK$3.5 million) in cryptocurrencies to phishing text messages in the last two weeks. See related article: Gitcoin error sends US$460,000 to digital void Fast Facts See related article: CMCC Global raises US$100 mln to launch Hong Kong Web3 fund

Crypto investment products record highest inflows since July: CoinShares

Inflows in cryptocurrency investment products reached US$78 million last week, the highest volume since July, according to crypto asset manager CoinShares.  See related article: Alameda had a US$65 bln line of credit, says FTX co-founder Gary Wang Fast Facts See related article: DOJ seeks to block Bankman-Fried from bringing up Anthropic fundraise in court

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

DOJ seeks to block Bankman-Fried from bringing up Anthropic fundraise in court

Sam Bankman-Fried, the co-founder and former chief executive officer of cryptocurrency exchange FTX, should be blocked from bringing up artificial intelligence firm Anthropic’s latest fundraising efforts in his defense against the U.S. Department of Justice (DOJ), prosecutors said in a court filing on Sunday. See related article: Little-known FTX co-founder Gary Wang testifies in Sam […]

Alameda had a US$65 bln line of credit, says FTX co-founder Gary Wang

Gary Wang, co-founder and former chief technology officer of cryptocurrency exchange FTX, testified on Friday that Alameda Research, the sister trading firm of the exchange, had a special line of credit of up to US$65 billion from FTX, that allowed the firm to spend US$8 billion of customer funds. See related article: Little-known FTX co-founder […]

Coinbase is “doubling down” on Singapore following license, says country director

The largest U.S.-based cryptocurrency exchange will be launching more products and services in the Lion City, Coinbase’s Hassan Ahmed says.
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Ledger cuts 12% of workforce, citing macroeconomic conditions

Cryptocurrency hardware wallet developer Ledger said it is cutting 12% of its workforce, according to a Thursday letter to employees by chief executive officer Pascal Gauthier. See related article: Binance ICO raised less than US$5 mln: Forbes Fast Facts See related article: Governments could access Ledger wallet private keys, says CEO

Binance ICO raised less than US$5 mln: Forbes

Binance’s 2017 initial coin offering (ICO) of its Binance Coin (BNB) reportedly raised less than US$5 million, contrary to the US$15 million claimed by the company and its Chief Executive Officer Changpeng Zhao.  See related article: U.S. SEC denied immediate access to Binance.US software Fast Facts See related article: Binance Japan partners with mega bank […]

Little-known FTX co-founder Gary Wang testifies in Sam Bankman-Fried trial

Wang admits he implemented special privileges in the exchange’s code to enable Alameda Research to withdraw unlimited funds.

Crypto trust on trial: Bankman-Fried faces judgment

Top blockchain and crypto news: Spotlight on Bankman-Fried, Pudgy Penguins’ new revenue stream and Google’s Web3 goggles

Sam Bankman-Fried committed ‘massive fraud,’ says prosecutor in opening statements

Prosecutors allege the founder of the failed FTX cryptocurrency exchange had a reputation that was “built on lies” as hotly awaited trial begins.

Bank of Korea to kick off wholesale CBDC pilot

South Korea’s central bank will be launching a pilot program for its central bank digital currency (CBDC) to explore infrastructure requirements, according to an Oct. 4 joint statement by the Bank of Korea (BOK), the nation’s Financial Services Commission (FSC) and the Financial Supervisory Service (FSS). See related article: CBDCs are coming. Here’s why you […]

XRP up over 4% after judge denies SEC’s interlocutory motion

The XRP token rose 4.42% after a federal judge denied the U.S. Securities and Exchange Commission’s (SEC) motion to overturn its recent loss against Ripple Labs. XRP traded at US$0.5308 at 2:45 p.m. in Hong Kong on Tuesday, according to CoinMarketCap data.  See related article: HK’s SFC & US SEC crack the whip as Blockchain […]

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 […]

Coinbase obtains Singapore’s Major Payment Institutions license

The Major Payment Institution license from Singapore’s central bank allows the exchange to expand its digital payment token services in the Lion City.