Cryptocurrencies

South Korean prosecutors on Tuesday indicted Terraform Labs co-founder Daniel Shin for alleged fraudulent transactions related to the collapse of the Terra-Luna crypto project.

Ethereum-linked digital asset investment products saw inflows of around US$17 million in the week ending April 21, up from US$300,000 in the previous week, appearing to show investor confidence following the blockchain’s milestone upgrade, Coinshares report shows.

Bitcoin fell below US$27,500 support on Tuesday morning in Asia. Ether and most other top 10 tokens traded lower amid a broader correction.

Russia is now the second largest Bitcoin miner after the U.S., according to a report by Russian media Kommersant. 

PEPE, a memecoin launched on April 14, fell 18.81% to US$0.0000002626 in the 24 hours to 7 p.m. on Monday in Hong Kong. The coin is still up over 392% on the weekly chart and has a market capitalization of US$116 million, according to DEXTools.

Bitcoin extended losses in Monday afternoon trade in Asia, along with all top 10 non-stablecoin cryptocurrencies by market capitalization, with Solana and Polygon as the biggest losers.

India’s Finance Minister Nirmala Sitharaman, in commending the potential of distributed ledger technology (DLT), has urged for a global consensus in regulating crypto while emphasizing that regulation did not equate to government control over the technology. 

Welcome to The Daily Forkast – April 24, 2023 – presented by Jeff Cheung. It’s been a bad weekend for the major cryptocurrencies, with most of them trading in the red over the last seven days. Bitcoin lost its footing with the US$30,000 mark and Ethereum lost all of its gains from the Shapella upgrade.

State employees in China’s Changshu City will receive their salaries in digital yuan from May, as China’s CBDC expands in daily uses.

Kwon Do-hyeong will have a court hearing on May 11 in Montenegro on charges of allegedly attempting to travel using a false passport.

Bitcoin rose on Monday morning in Asia but was boxed in below US$28,000. Ether and most other top 10 tokens gained, but not by enough to erase losses for the past week.

A new memecoin craze is raising Ethereum transaction fees, but it’s also bringing new liquidity in for non-fungible tokens.

Bitcoin fell to US$28,000 in the same week the European Parliament passed its landmark crypto framework. Industry analysts told Forkast that holding US$27,500 will be crucial for Bitcoin in order to spark an upward momentum.

Do Kwon has been charged by Montenegrin authorities for attempting to travel with forged documents as the US and South Korea race to extradite him.

Mempool congestion issues subsided after the Bitcoin network surpassed 1 million Ordinals inscriptions.

Bitcoin and Ether fell by the end of Asian trading hours on Friday afternoon, together with all top 10 non-stablecoin cryptocurrencies by market capitalization apart from the BNB token. Asian equities declined along with U.S. futures, amid mounting political pressure between China and the U.S. Fast facts See related article: EU green lights MICA but […]

Welcome to The Daily Forkast – April 21, 2023 – presented by Megha Chaddah. The European Union has approved the passage of their Markets in Cryptoassets (MiCA) law, making it the first major jurisdiction in the world to introduce a comprehensive law for the crypto sphere. Meanwhile, the crypto markets have sailed on steadily for […]

Bitcoin fell to near US$28,000 on Friday morning in Asia, with Ether trading flat and most other top 10 non-stablecoin tokens losing steam.

Critics have long slammed Bitcoin mining for its enormous carbon footprint. But what if all the heat that miners emit can be sustainably powered and reused?

South Korea’s Do Kwon went from a poster boy of digital finance as a co-founder of the US$40 billion Singapore-based Terraform Labs to a fugitive on Interpol’s wanted list, all in a matter of several rollercoaster years. He’s now in a Montenegro jail where he may face more time in detention as the U.S. and South Korea demand his extradition to face a long list of charges, including securities fraud – allegations he has repeatedly denied. The following is a timeline of how we got here.

Bitcoin and Ether fell during afternoon trading hours in Asia on Thursday, while most other top 10 non-stablecoin cryptocurrencies by market capitalization strengthened. Crypto investors were cautious ahead of Europe’s vote on the Markets in Crypto Assets (MiCA) bill.

Welcome to The Daily Forkast – April 20, 2023 – presented by Megha Chaddah. Bitcoin is down more than 5% Thursday morning in Asia. Ethereum also fell to lose hold of the US$2,000 price support in a sell-off across all top 10 non-stablecoin tokens. In the multi-chain economy, the Forkast Labs indexes trade mixed.

Bitcoin slid below the US$29,000 mark on Thursday morning in Asia. Ether lost hold of US$2,000 in a sell-off across all top 10 non-stablecoin tokens.

Intel has announced it would shut down its Bitcoin mining chip production a year after launch.

Bitcoin rose and traded above US$30,000 on Wednesday afternoon in Asia, while Ether fell along with most top 10 non-stablecoin cryptocurrencies by market capitalization. Solana lost the most, followed by Binance’s BNB token.

Bitcoin is expected to hit a high of US$42,225 in 2023 and close the year around US$35,485, according to a survey by Finder.

Welcome to The Daily Forkast – April 19, 2023 – presented by Megha Chaddah. Bitcoin rebounded above the US$30,000 mark and Ether gained ground as the withdrawal queue gets longer. Meanwhile, in the world of NFTs, former U.S. President Donald Trump is back in action as the second set of his digital collectibles was released.

Bitcoin rebounded above US$30,000 on Wednesday morning in Asia. All top 10 tokens rose after SEC chair Gary Gensler was criticized at a congressional hearing for his approach to digital assets.

SEC Chair Gary Gensler did not give a direct answer when asked whether Ether is a security or a commodity at a congressional oversight hearing on Tuesday. 

Bitcoin dropped on Tuesday afternoon in Asia but remained above US$29,000, while Ether and most top 10 non-stablecoin cryptocurrencies gained. Dogecoin and Solana fell on the day and rose on the week.

Welcome to The Daily Forkast – April 18, 2023 – presented by Megha Chaddah. Bitcoin and other major cryptocurrencies slipped in early morning Asia time. Meanwhile, Dogecoin shrugged off the overall down market, gaining almost 3% as sentiment around the memecoin got a lift after Twitter – led by Dogecoin fan Elon Musk – officially […]

CoinShares data showed Ethereum-linked products saw little investment interest with inflows of around US$300,000 in the week ending April 14, accounting for a tiny portion of the total US$114 million weekly inflow into digital assets and despite the blockchain’s milestone upgrade last week.

Bitcoin, Ether and most other top 10 non-stablecoin cryptocurrencies dipped Tuesday morning in Asia after the SEC sued crypto exchange Bittrex on Monday.

The Bank of England may set limits on use of stablecoins, citing concern rapid introduction of such digital currencies could lead to financial instability, Deputy Governor Jon Cunliffe said in a speech on Monday.

Bitcoin dropped on Monday afternoon in Asia and continued to trade below US$30,000. Cardano led losers among top 10 non-stablecoin cryptocurrencies in a mixed market. Solana led gains, followed by Binance’s BNB token and memecoin Dogecoin.

The U.S. House Financial Services Committee is set to hold a hearing on April 19 to discuss a draft bill released over the weekend on regulating stablecoins, a class of digital currency designed to offer price stability by being pegged to another asset’s value.

Bitcoin dipped below US$30,000 in early Monday morning trading in Asia. Ether stalled after strong gains that followed last week’s blockchain upgrade.

Bitcoin continued its rally to near the US$31,000 mark in Friday afternoon trading in Asia. All other top 10 non-stablecoin cryptos gained, led by Ethereum.

Welcome to The Daily Forkast – April 14, 2023 – presented by Megha Chaddah. Ethereum’s feeling the hype as the Shapella upgrade is out in full force, showing a near 11% increase over the last 24 hours. Dogecoin also saw a spike as Twitter announced a partnership with E-Toro which would allow users to buy […]

Bitcoin rose higher in the US$30,000 band on Friday morning in Asia amid strong gains among the top 10 non-stablecoin cryptocurrencies. Ether led the winners.

Securing keys is an issue that has bedeviled the crypto world, as the $600M Ronin and $300M Wormhole heists have painfully shown. Is there a better way?

Forkast Labs’ NFT indexes reveal Polygon’s US$3 million incentive to move y00ts over to its blockchain may have cost its users.

Twitter users will soon have access to stocks and cryptocurrency through a new partnership with eToro, a trading platform. 

Bitcoin and Ether rose during Asian trading hours on Thursday, along with all of the top 10 non-stablecoin cryptocurrencies by market capitalization. Ether rose the most, following the successful completion of the Shapella upgrade.

Welcome to The Daily Forkast – April 13, 2023 – presented by Jeff Cheung. Ethereum’s Shapella upgrade is finally here, and despite worries of selling pressure now that staked ETH withdrawals have been made easier, it has held its ground above the US$1,900 level. Other currencies have seen a slight dip overnight though, as the […]

Bitcoin dipped but held above US$30,000 in Thursday morning trading in Asia that saw mixed performances among the top 10 non-stablecoin cryptocurrencies.

Top blockchain and crypto news: Ethereum fork prompts price fall fears. Satoshi is found — in Apple software. Hong Kong ramps up Web3 plans.

Bitcoin slipped in Wednesday afternoon trade in Asia but remained above the US$30,000 mark. Ether prices sank, along with all top 10 non-stablecoin cryptocurrencies by market capitalization, with Cardano and Dogecoin as the biggest losers.

Welcome to The Daily Forkast – April 12, 2023 – presented by Megha Chaddah. Bitcoin continues to trade upwards, gaining around 1.5% overnight and is trading at a 10-month high. Ethereum on the other hand has lost a bit of it’s weekly gains as traders are beginning to factor in possible liquidation in anticipation of […]

Binance.US, a unit cryptocurrency exchange Binance set up to serve U.S. customers, will delist the native token of the Tron blockchain, TRX, on April 18.

Bitcoin held above US$30,000 in Wednesday morning trading in Asia, while most other top 10 non-stablecoin cryptocurrencies moved higher.

Nasdaq-listed Equinix and Indonesian conglomerate Astra International have set up a joint venture to help local businesses and multinationals capitalize on emerging technologies.

A common regulatory framework for all countries is underway, India’s Finance Minister Nirmala Sitharaman said on Monday.

Bitcoin continued to rally past US$30,000, with Ether and all other top 10 non-stablecoin cryptocurrencies gaining in Tuesday afternoon trade in Asia. Solana was the biggest gainer at 11.09%.

Seoul Southern District Prosecutors’ Office is in the process of freezing 7.1 billion won worth of assets that belong to Terraform Labs CEO Do Kwon.

Welcome to The Daily Forkast – April 11, 2023 – presented by Megha Chaddah. Exciting news as Bitcoin finally breaks the US$30,000 mark since June last year, having risen more than 5% in the last 24 hours. Ethereum is also looking good in the markets. As the Shapella upgrade is due for completion this week, […]

The upcoming upgrade to the Ethereum blockchain will allow users to withdraw millions of “staked” Ether, the native cryptocurrency, for potential sale. That would typically indicate a flood of selling pressure awaits the token, but not everyone is buying that.

Bitcoin surged above US$30,000 on Tuesday morning in Asia to the highest in about 11 months, leading a rally of all top 10 non-stablecoin cryptocurrencies.

The Bitcoin Network has recorded over 1.05 million Ordinals inscriptions within the first three months since launch.

Bitcoin and Ether rose in Monday afternoon trade in Asia, along with most other top 10 non-stablecoin cryptocurrencies by market capitalization.

Bitcoin resumed its rise above US$28,000 in Monday morning trading in Asia, a support level it has fluctuated around for most of April.

Solana has introduced a solution that aims to reduce on-chain storage costs for non-fungible tokens (NFT).  See related article: Solana NFT sales surge as traders farm for Tensor rewards Fast facts See related article: DeGods begins migration to Ethereum

Bitcoin bounced around the US$28,000 mark as worries about bank failures were replaced by concerns about a recession in the U.S. Just for good measure, the IMF forecast the global economy will see its slowest growth in two decades.

ECB President Christine Lagarde said the digital euro would have “limited control” in a prank call.

Bitcoin rose as Ether fell during Asian trading hours on Friday, with most of the top 10 non-stablecoin cryptocurrencies by market capitalization dropping. XRP rose the most, while Dogecoin was the biggest loser.

The arrested crypto fugitive Kwon Do-hyung has “zero ” identifiable assets in his native South Korea, prosecutors said on Friday.

Ownership is only one feature of Web3. The more important and defining characteristic is ‘verifiability,’ writes Jonathan Victor of Protocol Labs.

Bitcoin moved in a narrow range above the support line at US$28,000 in Friday morning trading in Asia, while most other top 10 crypto declined.

India is reportedly aiming to have one million users of its CBDC within three months of launch, according to sources familiar with the matter cited by CoinDesk. 

Ethereum is set for a few upgrades which will see quality of life improvements and aproof-of-stake protocol.

Bitcoin and Ether fell during afternoon trading hours in Asia on Thursday, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization.

Welcome to The Daily Forkast – April 6, 2023 – presented by Megha Chaddah. Bitcoin lost its hold onto the uS$28,000 mark briefly Thursday morning Hong Kong time. Elsewhere in the markets, Dogecoin lost some of its hype overnight after rallying upwards of 30% Tuesday morning, losing 5% in 24 hours.