Companies

Reddit has partnered with cryptocurrency exchange FTX to integrate the social network’s Community Points feature with FTX Pay to allow Reddit users to buy Ether on the app. See related article: Instagram expands NFT platform to 100 countries Fast facts FTX Tuesday said the partnership enables Reddit users to purchase the second-largest crypto by market […]

Welcome to The Daily Forkast – August 9, 2022 – presented by Angie Lau. Coming up on today’s show: US lawmakers aim to push Fed on digital dollar. Circle freezes smart contract addresses linked to blacklisted Tornado Cash. Also, Hodlnaut freezes withdrawals, swaps and deposits. Zipmex to release specific amounts of Bitcoin and Ether. And […]

Indian cryptocurrency exchange WazirX will delist and cease trading on all trading pairs for EasyFi (EZ) on Aug. 11. It will continue to support withdrawals of these tokens from WazirX until Nov. 12.  See related article: Binance to stop off-chain transfers with India’s WazirX Fast facts WazirX periodically reviews each digital asset it lists and […]

Web3 companies should issue tokens to accelerate growth, not to gather initial funds, said Binance founder and chief executive officer (CEO) Changpeng “CZ” Zhao at a fireside chat at Korea Blockchain Week 2022 on Tuesday.  See related article: Binance spent over US$1B on compliance, founder Changpeng Zhao says Fast facts “When people come into Web3 […]

Leading cryptocurrency exchange Binance will remove the off-chain fund transfer channel between India’s WazirX and itself beginning Aug. 11, following recent regulatory action taken against Zanmai Labs Private Limited, the entity operating WazirX. See related article:  Only the big fish will survive as India cracks the whip on crypto: Binance-backed WazirX Fast facts Users will […]

Cryptocurrency platform Crypto.com has forayed into South Korea with two acquisitions — payment service provider PnLink Co. and virtual asset service provider OK-BIT Co., the company said.  See related article: Crypto.com, K-pop agency Fantagio enter joint NFT venture Fast facts The Singapore-based company also said it secured registration under South Korea’s electronic financial transaction act […]

Crypto exchange Zipmex is planning to release an unspecified amount of Ethereum and Bitcoin on Aug. 11 and 16 respectively, after a suspension of withdrawals from its Z Wallet last month.  See related article: Why Singapore may be the ideal place for companies to rebuild post-crypto winter Fast facts The Singapore-based company said on Monday […]

Circle Internet Financial Ltd., the issuer of the USDC stablecoin, froze over 75,000 USDC in funds linked to 81 sanctioned addresses at the cryptocurrency mixer Tornado Cash on Monday, according to data from crypto aggregator Dune Analytics. See related article: Bad actors in North Korea, Russia send record-high funds to crypto mixers Fast facts The […]

Indian crypto exchange WazirX said its operations are being conducted as usual, even after Binance denied owning equity in Zanmai Labs, the entity operating WazirX. The spat over ownership — Binance had reportedly acquired WazirX in 2019 — surfaced after Indian authorities reportedly froze US$8 million in WazirX assets, alleging possible violation of foreign exchange laws. […]

DeBridge cofounder Alex Smirnov on Saturday alleged their team found evidence that North Korean state-backed Lazarus Group was attempting to attack the cross-chain protocol, warning that the group’s attack could broadly target Web3 teams. See related article: After Nomad and Solana, ZB.com gets hacked for US$4.8 mln Fast facts See related article: Why blockchain bridges […]

Tencent’s non-fungible token (NFT) marketplace Huanhe has not issued a new NFT for sale in a month, the first time that no new NFTs have been issued for an entire month since last October.  See related article: Tencent to cut domestic NFT marketplace team, look overseas: report Fast facts At the end of July, local […]

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.  […]

Bitcoin and Ethereum rose in early morning trading in Asia, along with most other tokens on the top 10 list by market capitalization. BNB rose 3.4% to reach US$325, adding to gains made last week when the Binance exchange, the BNB issuer, said it would add more tokens. Cardano briefly touched a week’s high, up […]

Coinbase and Blackrock partner up to provide institutional crypto access. Meanwhile, Instagram expands NFT platform.

Binance has partnered Mastercard to introduce a Binance card in Argentina for making purchases and paying bills with cryptocurrencies.  See related article: Philippines’ SEC warns public not to invest with Binance Fast facts The product is currently in a beta phase and will be widely available in the coming weeks, Binance said. The card is […]

Former PwC crypto arm leader Henri Arslanian said in a report the digital asset fund Nine Blocks Capital Management will receive $75 million from major supporters, including Hong Kong-based hedge fund Nine Masts Capital. See related article: Dubai scorches crypto winter with plans to support 40,000 ‘virtual jobs’ Fast facts See related article: India’s WazirX […]

A U.S. bankruptcy court in New York approved crypto platform Voyager Digital’s request to return to customers US$270 million held in a custodial account at Metropolitan Commercial Bank (MCB), the Wall Street Journal reported.  See related article: Voyager crypto refund plan unconfirmed; fiat to be returned in full Fast facts The funds at the MCB […]

Instagram’s platform for non-fungible tokens (NFT), which the firm is calling “digital collectibles,” is now available in 100 countries, the Facebook parent Meta-backed social media giant said. See related article: Meta’s attempts at building a metaverse will ‘misfire’: Vitalik Buterin Fast facts With support for Coinbase and Dapper wallets added, Instagram now supports wallets from […]

Investment management firm BlackRock Inc. has partnered with cryptocurrency exchange Coinbase Global Inc. to provide institutional clients with access to crypto trading and custody services. See related article: Coinbase, biggest US crypto exchange, cuts workforce by 18% Fast facts BlackRock is extending the use of its Aladdin asset management software suite to its institutional clients […]

South Korea’s leading digital asset exchange Bithumb is linking its system with mobile applications from three major domestic financial institutions — Samsung Securities, NH Nonghyup and KB Kookmin Bank, Bithumb announced Thursday. See related article: Scarred by Terra-LUNA, South Korea moves ahead with digital asset reform Fast facts Bithumb users can now check up-to-date crypto […]

It was a mixed bag for the top 10 cryptocurrencies Friday morning in Asia, with most moving less than 1%. Bitcoin dipped, while BNB continued its breakout run for a second day. Bitcoin was trading at US$22,612 as of 8 a.m. in Hong Kong, down 1% in the last 24 hours. Ethereum slipped 0.7% to […]

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?

Bitcoin and Ethereum moved lower in Asia afternoon trading on Thursday, with Solana recovering from a price drop blamed on a hack of its network. Bitcoin was priced at US$22,927 as of 4:30 p.m. in Hong Kong, down 1.12% in the last 24 hours. Ethereum edged down 0.9% to US$1,621, according to data from CoinMarketCap. […]

India’s Directorate of Enforcement (ED), responsible for enforcing economic laws and fighting economic crime, is investigating two cases against crypto exchange WazirX under the Foreign Exchange Management Act of 1999 (FEMA), reported local media. See related article: Only the big fish will survive as India cracks the whip on crypto: Binance-backed WazirX Fast facts Zanmai […]

The Philippines’ Securities and Exchange Commission (SEC) has cautioned the public not to invest with Binance, the world’s largest cryptocurrency exchange by trading volume, in response to think tank Infrawatch PH’s request to ban Binance in the Philippines. See related article: Philippines think tank calls for ban on Binance Fast facts In a letter responding […]

MicroStrategy’s share price jumped nearly 15% in early trading on Wednesday in the U.S. following Tuesday’s announcement that current CEO Michael Saylor is stepping down from that role to become executive chairman and will lead the company’s Bitcoin acquisition focus. See related article: MicroStrategy CEO Michael Saylor moves to chairman role to focus on Bitcoin […]

Binance has named cofounder Yi He as the new head of its incubator and venture capital (VC) arm Binance Labs, as the world’s largest cryptocurrency exchange by trading volume works to invest in “projects with the tenacity to thrive in tough market conditions.” See related article: Calling a spade a spade holds Binance’s lesser known […]

South Korean entertainment agency Fantagio announced Wednesday a memorandum of understanding (MOU) with digital asset platform Crypto.com to pursue non-fungible token (NFT) projects, according to local reports. See related article: Dunamu’s NFT venture with BTS’s HYBE to launch services later this year Fast facts KOSDAQ-listed Fantagio manages K-pop idol groups such as ASTRO and Weki […]

Bitcoin was trending lower to little-changed in early Asia trading on Thursday with most major cryptocurrencies losing ground. Solana remained lower after reports of a hack on its network. Bitcoin was priced at US$22,848 as of 8 a.m. in Hong Kong, off 0.6% in the last 24 hours. Ethereum dipped 0.8% to US$1,615, according to […]

Nomad loses US$200 million after over 300 suspected of participating in the hack. Meanwhile, Michael Saylor moves from CEO to Chairman of Microstrategy.

Beijing’s drive to stamp out crypto mining and the slump in crypto prices are headwinds that Canaan says it knows how to deal with, adding that the crypto winter may be shorter than expected.

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 […]

The New York Department of Financial Services (NYDFS) slapped a US$30 million fine on the crypto arm of trading app Robinhood on Tuesday for allegedly violating the bank secrecy act, anti-money laundering, and cybersecurity regulations. See related article: Sam Bankman-Fried buys 7.6% of Robinhood; stock jumps Fast facts The financial regulator also asked the firm […]

MicroStrategy CEO Michael Saylor is stepping down to become executive chairman “to focus more on our Bitcoin acquisition strategy and related Bitcoin advocacy initiatives,” according to a company statement released Tuesday. See related article: Vitalik Buterin calls MicroStrategy’s Michael Saylor a ‘total clown’ Fast facts According to the statement, this will allow the company to […]

Is the flippening coming soon? And NFT sales drop 25% in July as the crypto winter continues.

Binance and Paxos Trust Company, which issues the dollar-pegged stablecoin BUSD (Binance USD), released the first unaudited breakdown of the reserves backing the token on Aug. 1. See related article: Binance spent over US$1B on compliance, founder Changpeng Zhao says Fast facts According to the reserve report, BUSD was backed by US$738 million in cash, […]

Blockchain payments company Ripple released 1 billion of XRP from three escrow accounts on August 1, pushing the price of its native token down by 3.4% in the past 24 hours, according to CoinGecko data. See related article: SEC fails to block XRP holders from aiding in Ripple case Fast facts In December 2017, Ripple […]

Defi Payments, the parent company of troubled Singapore-based crypto exchange Vauld, received court approval to protect the platform from potential lawsuits for three months. See related article: Singapore crypto lender Vauld reportedly owes retail investors US$363  million Fast facts See related article: Zipmex seeks moratorium from creditors in Singapore court

Binance founder and CEO Changpeng Zhao Monday said the world’s largest cryptocurrency exchange by trading volume spent over US$1 billion on compliance efforts with its market share continuing to increase. See related article: Binance’s Changpeng Zhao sues Bloomberg publisher in HK Fast facts Zhao Monday said on his verified Twitter handle that a recent CoinDesk […]

A stolen painting may be lost forever, but a fraudulent Bitcoin transaction — with these legal strategies and tracing tools — can lead right to the criminal.

The ETH2 merge could once again be delayed. Meanwhile, Vitalik Buterin calls Michael Saylor “a total clown”.

The U.S. Federal Deposit Insurance Corporation (FDIC) clarified in a statement on Friday that it only protects insured bank customers in case a bank fails, and not assets issued by crypto companies.  See related article: Crypto lender Voyager ordered to stop misleading claims over deposit insurance Fast facts The FDIC’s comments come a day after […]

Ethereum cofounder Vitalik Buterin has taken a shot at MicroStrategy chief executive officer Michael Saylor, calling him a “total clown” after the latter called the world’s second-largest cryptocurrency “inherently unethical.” See related article: Crypto continues tear while Vitalik Buterin says Eth2 ‘not priced in’ Fast facts “Why do maximalists keep picking heroes that turn out […]

Vitalik Buterin predicts the metaverse will be built, but any existing corporation trying to intentionally build one will not succeed, adding that efforts by Meta (formally Facebook) to do so will “misfire.” See related article: Will Facebook’s metaverse future transform how we live online? Fast facts In a Twitter thread over the weekend, the Ethereum […]

Terry Gou, founder of Apple iPhone maker Foxconn, Saturday said that fraudsters have been using his images to promote cryptocurrency scams and that he has never invested in the crypto industry. See related article: Foxconn pledges to boost metaverse development this year Fast facts In a Facebook post on Saturday, the Taiwanese mogul said through […]

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

U.S. banking regulators have ordered crypto lender Voyager Digital to stop making “false and misleading” claims that its customer’s funds were insured by the government. See related article: Three Arrows, Voyager failures raise questions of who is next in crypto fall from grace Fast facts The Federal Reserve and the Federal Deposit Insurance Corp (FDIC) […]

Terraform Labs and affiliates allegedly ramped up the numbers of its decentralized finance (DeFi) service Anchor Protocol by investing their own capital, a claim that South Korean prosecutors are currently looking into, state broadcaster KBS reported. See related article: S.Korea slaps ‘notification upon arrival’ on Terra’s Do Kwon Fast facts The local media outlet claims […]

Chinese crypto mining rig maker Canaan is ramping up its mining business and will soon start self- or joint-mining operations in the U.S., Edward Lu, a senior vice president of Canaan, told Forkast in an interview on Thursday. See related article: Bitcoin rig maker Canaan reports over US$200 mln in Q1 revenue Fast facts “Today […]

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. […]

Crypto lender Vauld, which halted withdrawals earlier this month, is facing hostile action from multiple creditors, according to a new affidavit reviewed by Moneycontrol.  See related article: Nexo in talks to buy out Vauld Fast facts As per the affidavit, Vauld has received two demand letters and two civil claims from four creditors.  One of […]

The crypto market shrugs off IMF’s predicted recession risk. Also, U.S lawmakers racing to introduce the stablecoin bill.

Top blockchain and crypto news: SBF’s Voyager rescue deal spurned. Tesla pulls U-turn with BTC sale. Tencent cuts local NFT staff as it looks abroad.

Bitcoin quickly rebounded above US$21,000 coming into Asian trading hours on Wednesday after falling below the mark overnight since the International Monetary Fund (IMF) cut its global growth outlook for this year and next, warning that the world economy may soon be on the cusp of an outright recession. See related article: IMF says crypto crash […]

Investment banking firm Jefferies downgraded the MicroStrategy stocks from “hold” to “underperform.” See related article: Michael Saylor’s MicroStrategy buys more Bitcoin Fast facts MicroStrategy, the largest corporate holder of Bitcoin, has a premium valuation for a low-growth asset, Jefferies said in a research report released on Tuesday. Jefferies kept the MicroStrategy price target unchanged at […]

South Korean prosecutors investigating Terra-LUNA have requested the Ministry of Justice to place a “notification upon arrival” on Terraform Labs chief executive officer Do Kwon and a travel ban on Terra cofounder Shin Hyun-seung, according to local media reports. See related article: South Korean prosecutors said to have raided Terra cofounder Shin’s residence Fast facts […]

U.S.-based crypto exchange Kraken is reportedly under investigation by the U.S. Treasury Department’s Office of Foreign Control for allegedly violating economic sanctions against Iran, according to the New York Times. See related article: US charges two Europeans with helping N.Korea evade sanctions with crypto Fast facts Kraken allegedly allowed users in Iran and elsewhere to […]

The International Monetary Fund (IMF) said Tuesday that the cryptocurrency market turmoil hasn’t quite affected global financial stability. See related article: Crypto volatility hasn’t had macroeconomic implications so far: Jerome Powell Fast facts In a report published Tuesday, the IMF said crypto assets have “experienced a dramatic selloff” that has led to losses in crypto […]

Crypto prices fall ahead of the Fed meeting. Meanwhile, the Philippines pushes for a crypto tax.

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 […]

Taiwan-based smartphone and virtual reality (VR) headset maker HTC is partnering with Japanese creator platform pixiv to launch Japanese anime-style three-dimensional (3D) avatars on its metaverse platform VIVERSE, a press release said. See related article: HTC launches metaverse phone with Ethereum, Polygon support Fast facts “The partnership with pixiv will rapidly increase the number of […]

Crypto exchange Zipmex, which announced that it is in serious discussions with potential investors on Monday, is looking to raise US$50 million to cover its exposure to Babel Finance and Celsius Network, Bloomberg reported.  See related article: Zipmex says considering possible offer Fast facts Zipmex’s fundraising target is close to its exposure to Babel Finance, […]

After bankrupt crypto broker Voyager Digital rejected a proposal to buy out its assets and loans — except the loan to insolvent crypto hedge fund Three Arrows Capital — FTX CEO Sam Bankman-Fried (SBF) took to Twitter to lash out.  See related article: FTX proposes buying out Voyager assets and loans except for 3AC to […]

Founded by former employees of Meta stablecoin arm Diem, blockchain company Aptos Labs announced a US$150 million Series A funding round led by FTX Ventures and Jump Crypto on Monday, according to a press release. See related article: Crypto startup funding falls by 26% in H1 2022: report Fast facts Venture capital and crypto firms […]

Binance founder and CEO Changpeng Zhao is suing the Hong Kong publisher of Bloomberg Businessweek for defamation for an article published last month. See related article: Binance fined by Dutch central bank for improper registration Fast facts Zhao Monday filed a lawsuit in Hong Kong against Modern Media Co. Ltd., which publishes the Chinese edition […]

As the Celsius bankruptcy shows, moving to decentralized ways to hold crypto is not only sensible, it’s what Satoshi envisioned all along, writes Ruben Merre, CEO and cofounder of NGRAVE.

Silvergate issues warnings about the crypto winter. Meanwhile, Zipmex considers a buyout by FTX and Alameda Research.

Crypto exchange FTX launched a joint offer with West Realm Shires, which runs FTX.US, and Alameda Ventures, on Friday, which would allow bankrupt crypto lender Voyager Digital customers to get their hands on their bankruptcy claims in advance.  See related article: ​​Voyager crypto refund plan unconfirmed; fiat to be returned in full Fast facts Regarding […]

The bear market in digital assets hasn’t ended with more exchanges and crypto funds likely to suffer for several quarters, Alan Lane, the Chief Executive of crypto-focused bank Silvergate said. See related article: Wall Street seems to sense opportunity in distressed crypto markets Fast facts Investors should not compare the current crypto price decline to […]

The U.S. Securities and Exchange Commission (SEC) alleged in a civil suit filed last week that nine of the 25 crypto assets traded in the first-ever cryptocurrency insider trading case were securities and that leaking confidential information, therefore, amounted to securities fraud.  See related article: Former Coinbase manager arrested on insider trading charges Fast facts […]

Tesla’s announcement to convert bulk of its Bitcoin holdings to fiat currency has opened a Pandora’s box for accountants, a Bloomberg report said.  See related article: Bitcoin falls as Tesla announces it sold 75% of BTC holdings Fast facts Based on Tesla’s letter to shareholders, the sale of Bitcoin added US$936 million in cash to […]

Crypto derivatives exchange FTX is reportedly in talks to purchase Bithumb, one of South Korea’s top five cryptocurrency exchanges. See related article: BlockFi’s deal with Sam Bankman-Fried’s FTX will prioritize clients Fast facts The two exchanges have been discussing the deal for several months, according to an anonymous source who told Bloomberg. Neither Bithumb nor […]