Hong Kong’s Ocean Park announced on Monday that it is entering The Sandbox metaverse to offer virtual experiences through non-fungible tokens (NFTs) and gaming, as visitors to its physical venue dropped throughout the pandemic. Fast facts The government proposed last January that it will transform the physical theme park into a resort and leisure destination […]
The aggregate sales volume of the four crypto exchanges that advertised during the Super Bowl on Monday Asia time accounted for under 60% of the world’s largest exchange Binance, which did not. Fast facts The four exchanges — Coinbase, FTX, Crypto.com and BitBuy — saw a total of US$6.75 billion in the past 24 hours […]
SEC Commissioner Hester Peirce, dubbed Crypto Mom, dissented in Monday’s US$100M BlockFi settlement, saying the punishment does not fit the crime.
The Indian government and the Reserve Bank of India (RBI) are working in “complete harmony” and any decision on cryptocurrency will be made jointly, finance minister Nirmala Sitharaman said in a press conference on Monday. Fast facts Discussions on crypto have been ongoing between the government and the RBI — India’s central bank — even […]
Bitcoin has continued to outperform traditional investment vehicles with the digital asset leading over major tech stocks in the last 30 days, according to Finbold. Fast facts Bitcoin outperformed the top six tech stocks by an average return on investment (ROI) of 12.24% as of Feb. 13. Bitcoin significantly outpaced Meta by 46.74%, followed by […]
Advertisements for several crypto exchanges vied for the spotlight in this year’s Super Bowl, including one for Crypto.com that aired during the showcase halftime break. Fast facts Following a widely publicized ad featuring Matt Damon, Singapore-based Crypto.com’s new ad featured basketball star LeBron James talking to his younger self in 2003 insinuating the creation and […]
Reserve Bank of India’s chief sends crypto warning. In addition, Korean crypto execs gets jailed
North Korea’s foreign affairs ministry wrote on its website Tuesday that the U.S. is behind the claim that the socialist state hacked millions of dollars worth of cryptocurrency. Fast facts The Democratic People’s Republic of Korea (DPRK) warned that it considers the act of spreading rumors about a “non-existent” cryptocurrency theft to be a serious […]
Ransomware payments in crypto tallied higher than US$602 million in 2021, according to blockchain forensics firm Chainalysis, with average payments recording US$118,000, or 34% higher than the 2020 average. Fast facts
Reserve Bank of India Governor Shaktikanta Das said in a press conference that cryptocurrencies have no underlying value and that they are “not even a tulip,” warning investors of its risks. Fast facts Das’s comments come just over a week after India’s central government announced a 30% taxation plan on income from crypto assets as well […]
As stablecoins face pressure to adopt traditional safeguards, the industry’s efforts to self-regulate should not be overlooked, writes Charlie Martin of Gro.
Binance, the world’s largest cryptocurrency exchange, plans to take a US$200 million stake in Forbes through a private placement, making it one of the two largest shareholders of the 104-year-old business magazine. Fast facts The investment comes as Forbes seeks to go public on the New York Stock Exchange via a deal with a special […]
Netmarble revealed Thursday that it has formed a strategic partnership with Binance to establish a global blockchain gaming ecosystem. Fast facts Binance will provide its blockchain platform and tech infrastructure to Netmarble. Netmarble will build a new sidechain on the Binance Smart Chain (BSC) for developing GameFi and an initial game offering (IGO) on the […]
Japanese gaming giant Bandai Namco plans on a metaverse with their IP meanwhile, Russia does a crypto flip.
American banking giant JPMorgan predicts Bitcoin’s price will approach US$150,000 in the long term, strategist Nikolaos Panigirtzoglou wrote in an investors note cited by Bloomberg. Fast facts Bitcoin, the largest cryptocurrency by market capitalization, is currently trading at about US$43,830, but JPMorgan pegs its fair value at around US$38,000, about 15% lower than its current […]
China does not expect significant impact on its monetary system if the digital dollar were introduced, said Mu Changchun, director-general of the People’s Bank of China Digital Currency Initiative on Wednesday. He spoke at a panel organized by the Atlantic Council think tank to support the release of the International Monetary Fund’s report on central […]
The United Nations specialized agency for telecommunications standardization, ITU-T, has approved a non-fungible token (NFT) technical framework proposed by Chinese tech giants including Tencent Holdings and Ant Group, state-owned media reported. Fast facts The framework, which introduces an NFT standard, proposes technical and security requirements for digital collectibles on the blockchain. The international standards approved […]
The U.S. Department of Justice (DOJ) has seized over US$3.6 billion worth of Bitcoin linked to crypto exchange Bitfinex’s hack that occurred in 2016, as the country ramps up efforts to combat crypto crime. Fast facts The DOJ said Tuesday in a statement that it has arrested two individuals for allegedly laundering proceeds of 119,754 […]
Singapore-based cryptocurrency exchange Bybit has teamed up with Cabital, a Hong Kong-based crypto wealth management platform, to offer users more fiat on-ramp pathways to buy crypto. Fast facts Bybit said Tuesday in a statement that through the partnership, its users can use EUR and GBP to buy crypto on the Bybit platform and transfer crypto […]
Bithumb, one of South Korea’s largest cryptocurrency exchanges, says it will distribute digital art non-fungible tokens (NFTs) for traders who meet the criteria every time South Korea wins a medal at the Beijing Winter Olympics. Fast facts Held jointly with blockchain-based sports content platform 300FIT, the NFTs will be accessible to traders who have transacted […]
Fresh off a US$32 billion valuation, crypto derivatives exchange FTX Trading said Wednesday it will acquire its Japanese competitor Liquid Group and all its subsidiaries. Fast facts The deal is expected to close in March, according to a Liquid release. “Following FTX’s acquisition of Liquid, Quoine will gradually integrate FTX’s products and services into its […]
Australian resources mining billionaire Andrew “Twiggy” Forrest is taking Meta (formerly Facebook) to court alleging the social media giant breached local money-laundering laws by failing to prevent false cryptocurrency advertisements on its platform. Fast facts In legal proceedings lodged in the Western Australia Magistrates Court, Forrest alleges Meta “failed to create controls or a corporate […]
Top blockchain and crypto news: New Delhi’s crypto give and take. Malice in Wonderland? Hong Kong’s selective spot ETF rules.
Indian Finance Minister Nirmala Sitharaman confirmed at the parliament budget session on Tuesday that the Reserve Bank of India (RBI) will issue a digital rupee based on blockchain, as she proposed the issuance for financial year 2022-23. Fast facts “Digital currency will also lead to a more efficient and cheaper currency management system,” the minister […]
Meta (formerly Facebook)-backed stablecoin project Diem’s intellectual property and assets have been sold to cryptocurrency bank Silvergate Capital Corporation for US$182 million, both entities confirmed on Monday. Fast facts “[W]e identified a need for a U.S. dollar-backed stablecoin that is regulated and highly scalable to further enable them to move money without barriers,” said Silvergate […]
The owner and operator of cryptocurrency exchange FTX.COM announced Monday it closed US$400 million in a Series C fundraise that now values the company at US$32 billion. Fast facts Investors participating in this round included Temasek, SoftBank Vision Fund 2 and Tiger Global, among others. The company said all of the investors have participated in […]
Digital payments are commonplace in Asia, but gifting crypto as lucky money remains niche.
The record label conglomerate Warner Music Group (WMG) announced it will create a music-themed digital world in The Sandbox metaverse. Fast facts WMG confirmed its partnership with The Sandbox on Thursday, expanding the music company’s venture into non-fungible tokens (NFTs) and the metaverse. The Sandbox is a subsidiary of blockchain unicorn Animoca Brands, with high […]
Hong Kong’s central bank digital currency (CBDC) project with three other central banks and the Bank of International Settlements (BIS) will enter its pilot stage this year to test international trade settlements, a Hong Kong government official said. Fast facts Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, said on Wednesday the […]
Apple is planning a new service that will allow small businesses to accept credit card payments directly on their iPhone without additional hardware, according to a report by Bloomberg. Fast facts Apple’s move has stoked speculation that the company may be paving the way for its devices to also allow crypto payments in the future. […]
The U.S. Securities and Exchange Commission is scrutinizing the cryptocurrency companies Celsius Network, Gemini Trust and Voyager Digital about their practice of paying interest on crypto token deposits, Bloomberg.com reported on Thursday. Fast facts The SEC has begun an enforcement review focused on whether these tokens are unregistered securities, the report states, citing unnamed sources […]
With new products and services being launched and international exchanges setting up camp, crypto startups thrive despite the shadow of a crypto ban.
Klaytn, a public blockchain platform under South Korean internet giant Kakao, has joined China’s Blockchain-based Service Network’s (BSN) international infrastructure. Fast facts Klaytn’s joins fellow public blockchains Ethereum, Solana, Tezos and Polkadot in BSN International, to become accessible to the 25,000 developers in the ecosystem. The BSN is a Chinese state-backed project that is split […]
San Francisco-based Ripple Labs announced Tuesday that on the heels of a strong year it bought back the shares it sold in a 2019 fundraise and is now valued at US$15 billion. Fast facts The blockchain payments platform developer is in the middle of a 13-months-long lawsuit filed by the U.S. Securities and Exchange Commission […]
The metaverse could be life-changing for the world’s unbanked, writes Pavel Matveev of Wirex. Interoperability between the real and virtual worlds will be key.
The Bank for International Settlements (BIS) Innovation Hub announced on Tuesday that its Hong Kong Center will explore this year whether decentralized finance (DeFi) can improve financing for small and medium enterprises. Fast facts In Hong Kong, the BIS has been working with central banks of China, Hong Kong, United Arab Emirates and Thailand on […]
A federal judge on Monday has given the U.S. Securities and Exchange Commission (SEC) until Feb. 17 to fight her earlier order to turn over to the defendant Ripple Labs certain sensitive government documents in the agency’s lawsuit alleging the XRP token is an unregistered security. Fast facts Ripple and XRP investors initially believed they […]
China’s state-backed blockchain network disclosed eight platform partners today in line with the soft launch of its non-fungible token (NFT) platform, the BSN-DDC network. Fast facts The auction house Rong Bao Zhai, Hainan International Culture and Artworks Exchange Center — an essential part of China’s free trade port — and EY Blockchain are among the […]
Fantom has overtaken Binance Smart Chain (BSC) to become the third-largest blockchain in decentralized finance (DeFi) as measured by total value locked (TVL), according to DeFiLlama. Fast facts Fantom’s TVL bucked the global crypto market downtrend and increased more than 60% to US$12.2 billion over the past week, as of publishing time. Fantom is an […]
Meta’s Facebook and Instagram are exploring plans that would allow non-fungible tokens (NFTs) to be used as profile pictures, according to a report. Fast facts The plans include the showcasing, minting and selling of NFTs, several insiders told Financial Times. Meta staff members are also reportedly discussing the launch of a marketplace to buy and […]
Foxconn Chairman Young Liu said that the Apple parts manufacturer will step up its plans to tap into the metaverse arena this year, the company told local media on Wednesday. Fast facts Liu labelled 2022 as the Taiwanese tech giant’s “first year of the metaverse”. The company sets to incorporate metaverse elements into its product […]
The fast-growing crypto exchange Crypto.com discloses large amounts of Bitcoin and Ether were stolen from 483 customers.
Several mainland tech giants are launching digital collectibles as a novel gifting option for the Chinese New Year holiday season, which starts Feb. 1. Fast facts Digital collectibles are essentially non-fungible tokens (NFTs), but the term has been discouraged by authorities. Chinese search engine Baidu’s XuperChain has launched its digital collectibles platform, with a series […]
Google has hired former PayPal executive Arnold Goldberg to run its payments division as the company eyes offering a broader range of financial services including cryptocurrencies. Fast facts “Crypto is something we pay a lot of attention to,” Google’s president of commerce Bill Ready told Bloomberg. PayPal has already incorporated cryptocurrency into its business, recently […]
Microsoft announced on Tuesday a US$68.7 billion acquisition plan of gaming giant Activision Blizzard as part of its reach for the emerging metaverse market. Fast facts “Gaming is the most dynamic and exciting category in entertainment across all platforms today and will play a key role in the development of metaverse platforms,” said Satya Nadella, […]
Hong Kong-based Animoca Brands announced a US$358,888,888 capital raise Tuesday that values the blockchain gaming and open metaverse company at US$5 billion. Fast facts The round was led by New York-based Liberty City Ventures, with more than 18 other investors around the world, including Kingsway Capital, Sequoia China, Smile Group, Soros Fund Management and Winklevoss […]
The Indian government may not introduce a much-anticipated crypto bill in the upcoming parliamentary budget session, according to a report by the Economic Times of India. Fast facts The government is reportedly seeking to reach consensus with industry stakeholders before proposing legislation. The government may also be waiting for the Reserve Bank of India to […]
Binance partners with Gulf Energy for Thai crypto exchange, meanwhile, Polygon’s upgrade live
Solana-based non-fungible token (NFT) marketplace Burnt Finance, best known for burning then tokenizing street artist Banksy’s artwork, announced on Tuesday an $8 million Series A funding round led by Animoca Brands. Fast facts Other investors in this round include Alameda Research, Multicoin Capital, Valor Capital, Figment, Spartan Capital, HashKey, Terra and Fantom. Burnt Finance got […]
Binance signed a memorandum of understanding with Bangkok-based power company Gulf Energy Development to establish a digital asset exchange in Thailand, the Southeast Asian nation with a population of 70 million people. Fast facts According to Gulf Energy’s letter to the Thai Stock Exchange on Monday, its local resources coupled with Binance’s exchange technology would […]
Singapore-based exchange Crypto.com has struck a five-year AU$27 million (US$19.5) sponsorship with the Australian Football League’s (AFL) men’s and women’s (AFLW) competitions on Tuesday. Fast facts The deal is the first sponsorship from a crypto firm in Australia for a major sporting league, and the first major women’s sporting league sponsorship for Crypto.com. Australian rules football […]
Binance’s CEO is now the richest Asian man, but the crypto exchange giant’s presence in Asia—where Binance got its start—is withering under regulatory heat.
A Chinese state-backed blockchain network plans to launch non-fungible token (NFT) infrastructure that has no link to cryptocurrency by the end of this month, one of its creators told Forkast. Fast facts He Yifan, CEO of Red Date Technology, a developer of the Blockchain-based Service Network (BSN), a project to spur mass adoption of blockchain […]
Online influencers may be improving crypto-financial literacy for millions of people. But regulators have growing concerns.
Top blockchain and crypto news: Bandwidth bust in Kazakhstan. Binance chief CZ tops rich list. Digital yuan app adoption grows.
Attorneys for Ripple Labs Inc. filed a response with a federal judge Monday asserting the U.S. Securities and Exchange Commission is misapplying a recent ruling in another case in an attempt to deprive Ripple of an affirmative defense in the ongoing lawsuit, SEC v. Ripple Labs Inc. Fast facts In Monday’s letter, Ripple argued the […]
Binance CEO Changpeng Zhao is now the richest Asian person with an estimated net worth of US$96 billion, even without counting his crypto fortune, according to the Bloomberg Billionaires Index. Fast facts The daily index ranks the world’s 500 richest people, a list on which the 44-year-old Canadian founder would place 11th, according to the […]
The CFTC is asserting greater regulatory powers over the crypto industry than ever before. But does the agency have the statutory backing to do so?
Payments giant PayPal confirmed it is exploring its own stablecoin after evidence of such a project was found in its iPhone app’s code. Fast facts “We are exploring a stablecoin; if and when we seek to move forward we will of course, work closely with relevant regulators,” PayPal’s Senior Vice President of Crypto and Digital […]
Gaming metaverse the Sandbox announced the partners for its upcoming Hong Kong-influenced virtual cultural hub.
The US tech giant will pour $40M via private placement in Ennoconn, as the iPhone supplier continues to dream big for metaverse.
Some of India’s largest crypto exchanges, including WazirX, blame ambiguity in the regulation of cryptocurrencies for missed tax payments.
Since China’s crypto bans, Kazakhstan has become a popular destination of energy-intensive crypto mining companies.
Chinese cryptocurrency mining rig maker Canaan announced Tuesday that it has entered into multiple partnerships in Kazakhstan and deployed over 10,000 mining machines in the country, as the company steps up efforts to expand globally. Fast facts Canaan said in a statement it has successfully launched the last batch of mining machines online under its […]
The world’s largest crypto exchange continues struggling to stay compliant, but it has seen some luck in the Middle East.
Ethereum was game-chaging at its 2015 launch, but today it’s showing its age. As Eth2 upgrades slowly unfold, who are the top rivals trying elbow out the #2 blockchain?
Despite the looming parliamentary debate over banning private digital currency in India, the founder of Mumbai-based crypto exchange WazirX predicts thousands of new crypto startups.
Which blockchain sector will flourish, and what’s not yet ripe for mass adoption just yet? FTX CEO Sam Bankman-Fried offers his crystal ball in a special Forkast.News video.
Japan’s financial conglomerate SBI Holdings announced a joint investment in Singapore’s virtual asset exchange Coinhako with Switzerland-based Sygnum Bank. Fast facts The investment is made through a fund formed in Singapore named the SBI-Sygnum-Azimut Digital Asset Opportunity fund. SBI expressed certainty in supporting Coinhako’s international expansion and other startups that have growth potential in the […]