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May 2021

PayPal to let users move their crypto into third-party wallets

Global payments giant PayPal plans to let its users move the cryptocurrency they hold on its platform into third-party wallets.

Can Elon Musk shrink Bitcoin mining’s carbon footprint? PancakeBunny’s $200 million hack. Ray Dalio admits to owning crypto.

Other top blockchain and crypto news: Australia signals progressive approach to crypto as Hong Kong moves closer to banning retail crypto trading.

Ripple partners with Oman’s Bank Dhofar for cross-border mobile payments

Ripple is partnering with Bank Dhofar, Oman’s second largest bank, to facilitate cross border mobile payments through RippleNet.

Cardano sees US$10M inflows as big investors switch to proof-of-stake coins

Amid declines in Bitcoin and Ethereum, Cardano and its native cryptocurrency ADA saw US$10 million inflows as institutional investors switch to proof-of-stake coins.

Bitcoin rallies as Elon Musk meets with miners in green energy push

Bitcoin has rallied to nearly US$40,000, boosted by tweets from Tesla founder Elon Musk and MicroStrategy CEO Michael Saylor announcing that they have met with North American miners of the cryptocurrency to promote a renewable energy initiative.

Hong Kong split on retail crypto ban; Korean conglomerate on custody | The Daily Forkast

Hong Kong reacts to the region’s pending legislation on limiting crypto investment to professional investors while a conglomerate enters South Korea’s crypto custody scene.

Half of hedge funds are now investing in crypto, says PwC report

PwC and Elwood Asset Management have published their third annual report on the global crypto hedge fund landscape. Here are its findings.

Bitcoin price plunges and altcoins sell-off as crypto market decline intensifies

Bitcoin and altcoin prices take heavy hits and sell-off deepens as more bad news, including a blatant DeFi exit scam, continue battering crypto markets.

Bybit crypto derivatives exchange launches cloud mining for Ether

Crypto exchange Bybit is launching cloud mining to provide exposure to Ether. What happens when Ethereum moves from proof of work to proof of stake?

Solana gets Coinbase listing after SOL prices surge amid crypto market crash

Coinbase Pro adds Solana’s native token, opening the doors for US investors after SOL outperforms Bitcoin and most other cryptos amid market crash.

Singapore’s DBS Bank says no investment discussion can omit Bitcoin

Diversification to allocate funds to Bitcoin is an “opportunity that (fiat) money cannot buy”, says DBS Bank’s chief investment officer.

S. Korean crypto exchange Bithumb distances itself from scandal-hit ex-chairman

Bithumb, one of South Korea’s biggest cryptocurrency exchanges, is attempting to disassociate itself from its former chairman amid fears that its links to him may pose a threat to its license to operate.

Thailand’s The Brooker Group still bullish on crypto, planning US$3M investment in DeFi

The Booker Group announced that it now holds approximately US$35 million in crypto and plans to invest US$3 million into DeFi in Q2.

What’s really behind the Bitcoin market crash? Tether USDT lifts veil on reserves. Facebook-backed Diem going to California.

Other top blockchain and cryptocurrency news: BlockFi’s accidental BTC millionaires. China’s Inner Mongolia asks citizens to report illegal crypto mining.

Chainlink joins Hedera council in push to link DeFi with traditional finance

Chainlink, a data oracle, has joined the Hedera Governing Council, which oversees the distributed governance of the Hedera network, an enterprise-grade public network for the decentralized economy.

Judge denies Ripple’s bid to bar SEC from seeking foreign info on XRP

In a win for the SEC, a judge knocks back Ripple’s request to stop the SEC from asking foreign regulators for info on Ripple and XRP transactions overseas.

Bitcoin appears to stabilize after dramatic correction

The world’s biggest cryptocurrency may have found a new trading range after being battered yesterday following an apparent Chinese clampdown on cryptos, partly reversing losses of around 30% seen when investors dumped their coins on Wednesday.

Digital dollar’s values to fortify USD hegemony, says ex-CFTC chair

Former CFTC chairman Chris Giancarlo and Accenture’s David Treat are not in a CBDC race, but a ‘contest’ to develop money that reflects societal values.

RippleNet ties up with Egyptian bank, UAE payment firm for funds transfers

RippleNet has partnered with National Bank of Egypt and UAE-based payment services firm LuLu International Exchange for the processing of cross-border funds transfers from the United Arab Emirates to Egypt.

SEC and XRP holders face off anew over SEC’s lawsuit against Ripple

In a new court filing, SEC tries to keep out 6 representatives of 17,100 XRP holders from joining as 3rd party defendants in the SEC’s lawsuit against Ripple.

New coin launch seeks to curb Elon Musk’s influence over crypto markets

A group of cryptocurrency developers has launched a new coin named $STOPELON, aiming to limit Elon Musk’s influence over the cryptocurrency market.

Elon Musk slips down rich list as Tesla’s stock loses shine

Tesla founder Elon Musk has lost his position as the world’s second-richest person following a 2.2% decline in the electric carmaker’s share price.

Ripple seeks to protect legal advice on XRP from disclosure to SEC

Ripple rebuts SEC’s attempt to obtain Ripple’s confidential communications with lawyers over XRP’s legal status and seeks to bolster ‘fair notice’ defense.

Led by Cardano ADA, green cryptos rise as Bitcoin, wider market sinks

ADA price holds strong as investors shift to greener cryptocurrencies and Cardano smart contracts get set to launch blockchain into DeFi and NFTs.

India’s demand for crypto ‘growing like crazy’ since ban attempt

It’s only a matter of time that digital currency ‘is going to overshadow all the other forms of money,’ says Neeraj Khandelwal of CoinDCX.

Binance under fire; Internet giant Naver takes on South Korea’s CBDC | The Daily Forkast

The Asian crypto industry reacts to the US Department of Justice and Internal Revenue Service money laundering probe into Binance. In South Korea, the nation’s largest internet company plans to join Bank of Korea’s CBDC ventures. Over in Singapore, Southeast Asia’s largest lender DBS Bank expands its crypto services for its private bank clients by […]

DBS Bank rolls out crypto estate planning for the ultra-rich

What will happen to your Bitcoin keys and crypto wallets when you die? Southeast Asia’s largest bank will now take care of it all for the super wealthy.

CZ bites back at Binance probe sensationalism — ‘Anyways. Back to work’

Yet another U.S. regulatory probe of leading crypto exchange Binance is underway, but CEO Changpeng Zhao isn’t impressed with news headlines.

China’s miners on Tesla’s Bitcoin 180; Animoca Brands — a star is born | The Daily Forkast

Asia’s crypto industry reacts to Tesla backtracking Bitcoin payments, while Animoca Brands raises US$88,888,888 in a new funding round.

NFT player Animoca hits unicorn status with $89 million capital raise

Animoca Brands’ valuation tops US$1 billion as it charges forward in the NFT and blockchain gaming space with $88,888,888 in new funding.

Crypto markets crash as Tesla stops taking Bitcoin for payments

Elon Musk drops ‘fossil fuel’ Twitter bomb on Bitcoin, triggering a BTC price crash and dragging down Ethereum, Dogecoin and Shiba Inu.

How FTX crypto exchange won over 1 million investors and grew 25-fold

FTX crypto derivatives exchange pioneered TRUMP crypto futures and now dwarfs Coinbase in trading volume. Is going public in FTX’s near future?

FTX CEO on tokenized stocks; South Korean police officers want crypto | The Daily Forkast

FTX CEO Sam Bankman-Fried joins Forkast.News to share how the exchange is able to provide new financial products while still satisfying regulators.

SNL lights too bright for Dogecoin; ESG investments join crypto | The Daily Forkast

Dogecoin is on its weekend hangover as trading volumes in India’s WazirX for DOGE reaches new heights. Meanwhile, ESG investments tackle crypto.

SEC demands Ripple reveal legal advice Ripple received on XRP

In the latest volley in SEC v. Ripple Labs, the SEC contends that Ripple has waived its attorney-client privilege over legal advice on XRP’s status.

Ripple’s XRP sales increased over 90% in 1Q 2021

XRP sales by Ripple accounted for 0.07% of global XRP volume. Ripple says its sales were to support on-demand liquidity customers.

How R3 is growing Corda’s reach with China’s Blockchain Services Network

R3’s Corda — one of the most widely used blockchains of Corporate America — is coming to China. What does it mean for the US and Europe?

Court orders SEC to give Ripple internal documents on XRP, Bitcoin, Ether

Ripple scores another in legal wrangling over SEC lawsuit as SEC now must disclose its confidential internal communications over XRP, Bitcoin and Ethereum.

Open DeFi launches DAO: ‘Multi-chain DeFi is here to stay’

Since its launch by Conflux Network, a Shanghai-endorsed public chain, the East-West alliance has added over 30 members. Open DeFi now forms a DAO.

Report: 1.7 million DeFi users now on Ethereum, 50% more since Jan. 1

ConsenSys Codefi’s Q1 report on decentralized finance (DeFi) trends also saw 7x growth in stablecoins and predicts flashbots dominating the Ethereum network.

Ethereum and Dogecoin prices skyrocket. Andreessen Horowitz’s crypto talent search. Mastercard wants in on CBDCs.

Other top blockchain and cryptocurrency news: S&P Dow Jones launches Bitcoin and Ethereum indices. Will China crack down on more crypto miners?

Dogecoin keeps on barking; Mining for Chia heats up | The Daily Forkast

Dogecoin breaks another ATH while Chinese electronics vendors say that Chia is the hottest mining project in the mainland.

How Uniswap V3 and smartBCH seek to streamline DeFi, save on gas

The days of ‘DeFi’ being an insider buzzword are over. But gas fees remain high and the road bumpy. Will Uniswap V3 and smartBCH change anything?

SEC tries to block XRP holders from joining SEC v. Ripple lawsuit

In new court filings, the SEC says allowing XRP holders’ to join SEC v. Ripple lawsuit as third-party defendant would cause delays and ‘sow chaos.’

Dogecoin price flies to moon on eToro listing and Elon Musk for rocket fuel

DOGE fans push Dogecoin price to all-time high (ATH) after eToro lists the joke coin for 20 million users, days before ‘Dogefather’ Musk appears on SNL.

Ethereum breaks new records; South Korea split on crypto tax | The Daily Forkast

As Ethereum continues to soar to new all-time highs, South Korean crypto investors express mix sentiments on crypto tax.

XRP prices steady after court hearing, Ripple releases $1.6 billion XRP

XRP is up 600% since the start of the year and its holding steady as Ripple released one billion XRP over the weekend.

Why Binance stock tokens are drawing regulatory scrutiny

Are Binance stock tokens in Tesla, Coinbase and Apple mere tokens or company shares by a different name? Securities regulators are taking a close look.

Binance Charity Fund donates to India’s COVID-19 fight

The charity arm of Binance is sending 175 oxygen connectors to India to aid in the coronavirus relief effort.

April 2021

Singapore’s DBS Bank reports US$60 million crypto under custody

DBS Bank says it has over US$60 million in crypto under custody and plans to expand trading hours to 24/7.

DBS digital asset exchange performance; Cardano connects Africa online | The Daily Forkast

120 investors join DBS bank’s digital assets exchange in Q1 as Cardano looks to enable Sub-Saharan Africa with decentralized identities

JPMorgan, DBS Bank and Temasek partner on ‘game-changer’ blockchain for payments

JPMorgan, DBS Bank and Temasek jointly form a new company, Partior, to develop a blockchain platform for cross-border payments and settlements.

Stablecoin rush breaks out; JPM, DBS and Temasek launch Partior | The Daily Forkast

JPMorgan, DBS and Temasek launch Partior to digitize commercial money as stablecoin transaction volume surge in Asia-centric exchanges.

Ripple demands SEC to stop obtaining info on XRP dealings abroad

Ripple asks court to stop SEC from using MOU requests to get info on XRP from overseas regulators and pushes for access to SEC’s internal communications.

Tesla earnings soar from Bitcoin. PancakeSwap eclipses Ethereum. Coinbase delays Tether USDT listing.

Other top blockchain and crypto news: China’s internet giants JD.com and Ant Group reveal extent of digital yuan support. Turkey rethinks crypto ban.

PancakeSwap and controversial SafeMoon turbo boost BSC past Ethereum

Is Binance Smart Chain’s meteoric rise from PancakeSwap and cryptocurrency SafeMoon sustainable, and is an ‘Ethereum killer’ now finally closer to reality?

Binance dives into NFT; S.Korea’s FSC checks staff for crypto trading | The Daily Forkast

Binance announces its upcoming launch of an NFT marketplace while South Korean regulator asks staff to disclose personal crypto investments.

World’s largest crypto exchange Binance to launch NFT market in June

Binance, the crypto exchange with more than 50 million users around the world, wants a piece of the fast-growing NFT minting, trading and auction business.

Ant Group shares exclusive database tech to grow China’s CBDC | The Daily Forkast

China’s internet giant Ant Group shares its OceanBase database for the e-CNY project. More investors try out DeFi platform PancakeSwap.

As Coinbase Pro adds USDT, Tether execs balk at continued scrutiny

Tether’s battle with New York may be resolved for now, but legal obligations have company on the defensive. Is Tether’s USDT regulated or just registered?

SEC sought info on Ripple and XRP from 20 foreign entities, including trading platforms

SEC says info on Ripple and XRP transactions overseas is important to lawsuit. But of the nine foreign regulators the SEC asked, two refused to help.

R3 Corda helping Thailand’s case for international trade dark horse

Thailand’s crypto adoption is often overlooked, but one of its largest commercial banks has been leveraging permissioned blockchain Corda of R3 to digitize trade finance in the Fourth Industrial Revolution.

South Korean cryptocurrency industry claps back; Bitcoin’s nosedive | The Daily Forkast

Crypto investors in South Korea stir petitions to unseat the nation’s financial watchdog chief for his anti-crypto remarks.

SEC seeks to knock out Ripple defense, says no duty to warn over XRP

In a new legal filing, the SEC asks court to dismiss Ripple’s ‘lack of due process and fair notice’ defense that the XRP token could be deemed a security.

Bitcoin prices crash 12% in 24 hours; below $50,000 for first time since March

BTC is down more than 24% from its all-time high of US$64,787, set just last week with the Coinbase public offering. Will Bitcoin’s downward spiral continue?

Europe’s CoinShares launches XRP exchange traded product

XRP joins the growing list of cryptocurrencies now available as exchange traded products (ETP). What does this mean for crypto investors?

5 reasons why CBDCs and Facebook-backed Diem go hand-in-hand

When Diem launches and central banks roll out digital currencies, what role will each play? Here is a look at the world’s financial and payments future.

Global crypto alliance pushes renewable energy and greener digital assets

The Crypto Climate Accord — a joint effort that includes World Economic Forum, ConsenSys and Ripple — is aiming for net-zero crypto emissions by 2040.

Blockchain’s green efforts and crypto carbon-nomics in Asia | The Daily Forkast

From institutions wanting carbon neutral Bitcoins, to tokenizing carbon credits — these are the latest green crypto trends in this region.

Huobi Asset Management launches crypto tracker funds with SFC’s help

Huobi’s institutional-grade crypto funds will invest in Bitcoin, Ether and crypto mining now that Hong Kong’s ‘very friendly’ regulators gave their thumbs up.

Is Dogecoin’s price boom over? Investors punish Bitcoin and crypto market. Edward Snowden’s $5 million NFT.

Other top blockchain and cryptocurrency news: Can China be warming up to digital assets and crypto investing? Ethereum ETFs roll out in Canada.

ASEAN+1 pledge to advance blockchain; Paypal to launch wallet in China | The Daily Forkast

Six blockchain groups in the Asia-Pacific form a consortium, aiming to champion blockchain advocacy in the region.