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Cryptocurrencies

1496 articles

December 2022

Why digital assets need regulations now more than ever

In times of market volatility, regulation can restore confidence and public trust in crypto, writes Albert Isola, Gibraltar’s minister for digital and financial services.

Japan plans to lift ban on stablecoins issued overseas: report

Japan’s Financial Services Agency (FSA) reportedly plans to allow the circulation of foreign-issued stablecoins in the local market next year.

Biggest blockchain trends for 2023 and beyond

After a year of new all-time highs for major cryptocurrencies in 2021, 2022 was a challenging year for Web3. Industry experts tell Forkast what crypto has in store for 2023 and beyond.

Markets: Bitcoin, Ether extend gains; XRP biggest winner in top 10 cryptos

Bitcoin and Ethereum extended gains on Tuesday afternoon in Asia along with almost all other non-stablecoin top 10 cryptocurrencies by market capitalization. XRP was the biggest winner, rising nearly 4.8% in the last 24 hours.

Top Solana NFT projects find new homes on Ethereum, Polygon

Top Solana-based NFT projects DeGods and Y00ts are moving away from the network, both projects announced on Twitter on Monday.

Markets: Bitcoin, Ether rise; XRP leads gains

Bitcoin and Ether edged up slightly on Tuesday morning in Asia, along with nearly all other non-stablecoin top 10 cryptocurrencies. XRP led the gains with about 5.6%, followed by Cardano and Polygon.

Markets: Bitcoin, Ether inch up, Dogecoin leads decline across top 10 cryptos

Bitcoin and Ethereum inched up in Monday afternoon trading in Asia. Most other non-stablecoin top 10 cryptocurrencies by market capitalization were little changed

14 years on, why Bitcoin will survive its growing pains

Like an awkward teen, Bitcoin is facing a crisis of confidence, writes Eddie Hui of MetaComp. What lies in store for the original cryptocurrency in 2023?

Bitcoin hashrate drops nearly 40% as deadly U.S. storm unplugs miners

The Bitcoin network hashrate has dropped by more than 38.8% from its peak on Wednesday, as many U.S.-based miners have been forced to switch down their facilities due to deadly blizzards. See related article: British Columbia suspends new electricity connections for crypto miners Fast facts See related article: Bitcoin mining difficulty rises 3.27% in latest […]

Markets: Bitcoin, Ether little changed; Dogecoin falls

Bitcoin and Ether changed little on Monday morning, along with nearly all other non-stablecoin top 10 cryptocurrencies by market capitalization.

No change in community banks’ view of crypto after FTX’s collapse, says ICBA’s Brian Laverdure

ICBA vice-president Brian Laverdure believes that community banks are unfazed by FTX’s collapse, but remain split on cryptocurrencies.

Can crypto go mainstream in the next 18 months?

As the FTX debacle invites more stringent regulations, Caroline Bowler of BTC Markets believes crypto can go mainstream in the next 18 months.

Markets: Bitcoin slips, Ether inches up; Dogecoin leads rebound in top 10 cryptos

Bitcoin slipped and Ether inched up in Asian trading on Friday afternoon, with Dogecoin leading gains across the top 10 non-stablecoin cryptocurrencies by market capitalization.

Markets: Bitcoin, Ether prices edge up; Dogecoin rebounds after heavy losses

Bitcoin and Ether traded higher Friday morning in Asia, along with nearly all other non-stablecoin top 10 cryptocurrencies. Dogecoin led the gains with a rise of nearly 4.5%, followed by Cardano and XRP. BNB edged lower.

Decentralized exchanges could gain popularity following the FTX collapse

Ethan Buchman of Cosmos believes that 2023 may be the year of decentralized exchanges and more advanced cross-chain applications.

Retiring U.S. Senator Pat Toomey introduces bill for regulating stablecoins

U.S. Republican Senator Pat Toomey introduced a bill on Wednesday to set regulations for stablecoins and to further “sensible” regulation of cryptocurrency.

SEC, Ripple get extensions to exclude expert testimony in XRP lawsuit

The federal judge in the ongoing lawsuit between the SEC and Ripple has granted a joint motion from all parties to extend the deadline for the Daubert Motions that would exclude certain expert testimonies.

Markets: Bitcoin, Ether continue slide; U.S. equities gain on consumer confidence boost

Bitcoin and Ether fell in Thursday morning trading in Asia, along with all other non-stablecoin top 10 cryptocurrencies. Polkadot led losses with a drop of more than 2%, with Cardano and BNB following close behind.

Regulation shaping up?

A year of scandals in the crypto industry has led to questions about the viability of regulation.

U.S. crypto miner Core Scientific files for Chapter 11 bankruptcy, continues to mine Bitcoin

Core Scientific, one of the largest publicly traded crypto mining firms in the U.S., filed for Chapter 11 bankruptcy protection in the state of Texas on Wednesday.

Will Bitcoin’s true value prevail in 2023? 

As crypto investors move towards self-custody following FTX’s collapse, Brian Paik wonders whether it could teach people the true value of Bitcoin, beyond hype and price speculation.

Markets: Bitcoin, Ether inch up; Dogecoin remains biggest loser in top 10 cryptos

Bitcoin and Ether gained in Asian trading on Wednesday afternoon, with Dogecoin continuing to lead declines across the top 10 non-stablecoin cryptocurrencies

Retail-owned Bitcoin supply reaches all-time high

The supply of Bitcoin owned by retail investors has reached an all-time high of around 17%, according to blockchain research firms Glassnode and IntoTheBlock.

Markets: Bitcoin rises, Ether gains on potential Visa integration, BNB rebounds

Bitcoin prices rose Wednesday morning in Asia amid a week of volatile price movements in end-of-year trading.

Bitcoin miner Greenidge strikes deal with NYDIG to restructure debt

Troubled U.S.-based Bitcoin mining firm Greenidge Generation Holdings Inc. has entered a debt restructuring agreement with NYDIG, a cryptocurrency service provider to which Greenidge owes US$74 million.

Regulatory issues ‘still challenging’ as CBDCs gain popularity globally, says German tech firm Giesecke+Devrient’s Chief Evangelist Lars Hupel

Central bank digital currencies (CBDC) development and interest are growing rapidly worldwide but regulatory issues remain a challenge, especially for cross-border CBDC transactions.  But German technology company Giesecke+Devrient (G+D) – winner of Best Technology Award in the Hong Kong Monetary Authority’s Global Fast Track CBDC 2022 competition during the city’s FinTech Week in November – […]

South Korea freezes US$93 mln in assets of former Terra-Luna associates

A S.Korean court has approved prosecutors’ request to freeze assets of US$93.3 million belonging to seven former associates of Terraform Labs.

Markets: Bitcoin, Ether gain; Dogecoin is biggest loser in top 10 cryptos

Bitcoin and Ether gained in Asian trading on Tuesday afternoon, with Dogecoin leading declines across the top 10 non-stablecoin cryptos

What the FTX collapse means for the future of crypto

Centralized exchanges releasing ‘proof of reserves’ is not enough to win back users, while improving user experience will be key, writes Holger Arians of Banxa.

Markets: Bitcoin, Ether fall; Dogecoin drops after poll says Musk should quit as Twitter boss

Bitcoin and Ether prices fell in Tuesday morning trading in Asia as concern about the stability of crypto exchanges and a possible global recession continued to weigh on markets.

India’s CoinDCX publishes full proof of reserves

Cryptocurrency exchange CoinDCX, India’s first crypto unicorn, published its complete proof of reserves (PoR) on Monday detailing its USDT liabilities and reserves.

Markets: Bitcoin, Ether dip; XRP leads declines across top 10 cryptos

Bitcoin and Ether fell in Asian trading on Monday afternoon, with XRP leading declines across the top 10 non-stablecoin cryptocurrencies

Ripple CEO’s attorney to resign as counsel on XRP lawsuit against SEC

Ripple CEO Bradley Garlinghouse’s attorney has applied to withdraw as his counsel in Ripple’s ongoing lawsuit against the SEC.

Markets: Bitcoin, Ether little changed after weekend slump; Binance BNB token regains some ground

Bitcoin and Ether were little changed on Monday after a weekend slump amid worries about a global recession and the stability of crypto exchanges.

Markets: Bitcoin, Ether weaken; Litecoin leads declines across top 10 cryptos

Bitcoin and Ether fell in Asian trading on Friday afternoon, with Litecoin leading declines across the top 10 non-stablecoin cryptos

Hong Kong Stock Exchange debuts ‘Asia’s first’ crypto futures ETFs

Hong Kong launched two exchange-traded funds (ETFs) tracking cryptocurrency futures on Friday, the first of their kind in Asia, the local exchange said.

Markets: Bitcoin, Ether fall with equities as concerns about recession knock Wall Street lower

Bitcoin and Ether prices fell Friday morning in Asia, along with most of the top 10 non-stablecoin crypto, as U.S. stocks had their biggest declines in weeks.

Markets: Bitcoin, Ether fall; Solana rises as top 10 cryptos retreat

Bitcoin and Ether weakened in Asian trading on Thursday afternoon, with Solana rising amid drops across other top 10 non-stablecoin cryptocurrencies

MetaMask partners with PayPal for Ethereum purchases through wallet

ConsenSys Inc., the company behind leading crypto wallet MetaMask, announced on Thursday a new partnership with PayPal Holdings Inc.

FTX collapse not the worst for crypto investors this year, says Chainalysis study

The bankruptcy of cryptocurrency exchange FTX doesn’t represent the biggest losses for crypto investors in 2022, according to a report from Chainalysis.

Markets: Bitcoin rebounds then retraces amid hawkish Fed comments, Solana gains

Bitcoin held onto gains in Thursday morning trading in Asia, though had pulled back from an earlier spike above US$18,000 as the U.S. Federal Reserve raised interest rates in line with expectations.

Markets: Bitcoin, Ether strengthen; Solana leads gains in most top 10 cryptos

Bitcoin and Ether increased in Asian trading on Wednesday afternoon, with Solana leading gains across most top 10 non-stablecoin cryptocurrencies

Terra fugitive Do Kwon has registered address in Serbia: S. Korean local media

Interpol fugitive and chief of Terraform Labs Pte. Ltd. Kwon Do-hyung has registered his residential address in the Republic of Serbia.

Markets: Bitcoin, Ether prices rise as November U.S. inflation reading lower than expected

Bitcoin and Ether both rose more than 3% in Wednesday morning in Asia, as the U.S. consumer price index came in lower than expected.

Binance resumes USDC withdrawals amid record stablecoin outflows

Binance, the world’s largest cryptocurrency exchange, announced at 12:54 a.m. on Wednesday in Hong Kong that USDC stablecoin withdrawals have resumed.

Bitcoin up 5% as U.S. inflation cools in November

Bitcoin jumped more than 5% on Tuesday evening Hong Kong time, after the U.S. Bureau of Labor Statistics said that the consumer price index (CPI), a key inflation indicator, was up 7.1% in November from a year earlier, less than the expected 7.3%, and down from 7.7% in October. The CPI rose 0.1% in November from October.

Binance ‘temporarily’ freezes USDC stablecoin withdrawals, cites need for NY banks to reopen

The Binance cryptocurrency exchange “temporarily paused” USDC stablecoin withdrawals while it carried out a “token swap,” the company announced Tuesday.

The Taxman Cometh

Crypto tax laws aren’t easy to follow, and as more investors are moving to put their cryptocurrencies into ledgers, how do traders keep track?

Why local currency stablecoins are needed in non-US countries

Stablecoins in USD are becoming the digital world’s default currency — which burdens ordinary crypto users and monetary policies in smaller nations, writes Wei Zhou of Coins.ph.

Markets: Bitcoin, Ether rise in mixed trading; U.S. equities gain ahead of inflation data

Bitcoin and Ether rose in Tuesday morning trading in Asia, with other top 10 non-stablecoin cryptocurrencies putting in a mixed performance.

Coniferous crypto: What the industry must do to survive this winter

Crypto is weathering this year’s extreme turbulence so far. But its long-term health will require the sector’s urgent attention to regulation, education and security, writes Oliver Linch, CEO of Bittrex Global.

Terra cryptocurrency fugitive Do Kwon flew to Serbia last month, South Korean prosecutor says

Interpol fugitive Kwon Do-hyung flew to the Republic of Serbia last month, South Korean prosecutors told Forkast, confirming local media reports.

Markets: Bitcoin, Ether down as markets brace for November inflation data

Bitcoin and Ether fell slightly in Monday morning trading in Asia, along with all other non-stablecoin cryptocurrencies in the top 10, excluding Litecoin.

U.S. considering bill to require crypto miners to report carbon emissions

U.S. cryptocurrency miners would be required to report greenhouse gas emissions under a new bill submitted to the Senate, reflecting criticism the industry is adding to use of fossil fuels blamed for global warming.

Markets: Bitcoin, Ether prices rise as gains in U.S. equities help cryptocurrencies bounce back

Bitcoin rose back above the US$17,000 mark in Friday morning trading in Asia, helped by gains in U.S. equities overnight.

Sam Bankman-Fried probed over Terra-LUNA crash: report

Federal prosecutors are reportedly investigating Sam Bankman-Fried for possible market manipulation that led to the Terra-LUNA crash in May

Trader loses 70 ETH over bug in NFT marketplace Blur 

A bug in the new bidding system of non-fungible token (NFT) marketplace Blur caused a user to lose 70 ETH by accidentally overbidding on an Art Gobbler NFT.

Markets: Bitcoin, Ether drop as SEC’s Gensler says crypto firms running out of time to comply with securities laws

Bitcoin fell below US$17,000 in Thursday morning trading in Asia. The other top 10 non-stablecoin cryptocurrencies also retreated.

Tether launches offshore yuan-pegged stablecoin on Tron

Tether, the world’s largest stablecoin provider, will include the CNHT stablecoin on Justin Sun’s Tron network.

Salary in stablecoins?

Can crypto and stablecoins be used to pay employees across borders as remote working becomes more popular?

Judge approves subpoenas for 3AC cofounders 

A federal judge overseeing the bankruptcy proceedings of Three Arrows Capital (3AC) has approved the delivery of subpoenas to 3AC’s cofounders, Su Zhu and Kyle Davies.

Markets: Bitcoin, Ether rise in slow trading, Solana gains on Web3 game partnership

Bitcoin edged up above US$17,000 in Wednesday morning trading, a level it has fluctuated around for much of the past week.

Crypto’s Next Steps?

2022 saw the collapse of FTX, Terra-Luna and 3AC, and hacks were at an all time high. How can going back to blockchain’s roots help restore faith in crypto?

Hong Kong’s race to launch first crypto-linked ETF begins

Three Hong Kong-based asset management firms have applied for exchange-traded funds (ETFs) tracking Bitcoin and Ethereum futures for retail investors.

Crypto lender Nexo to quit U.S. market over ‘regulatory unclarity’

Cryptocurrency lender Nexo will pull out of the U.S. market “due to a lack of regulatory clarity.”

Bitcoin mining difficulty drops more than 7% as cash crunch hits miners

Miners face a liquidity crunch as cryptocurrency prices slide, with the world’s largest publicly-listed miner, Core Scientific, saying it may run down its cash reserves by the end of this year.

S.Korea central bank puts hand up to regulate stablecoins

The Bank of Korea (BOK) claimed it needs the authority to monitor and supervise stablecoins, according to the South Korean central bank’s report published on Monday.

Majority of ‘wealthy’ South Koreans say no plan to invest in crypto, cite lack of trust

The majority (58.3%) of South Koreans with assets of 1 billion Korean won (US$760,000) said they don’t plan to invest in cryptocurrencies.

Markets: Bitcoin, crypto top 10 retreat with equities on signs of inflation uptick in U.S.

Bitcoin dipped below US$17,000 in Tuesday morning trading in Asia, as Ether and most other top 10 non-stablecoin cryptocurrencies lost ground.

Markets: Bitcoin, Ether rally; Litecoin sees most gains across top 10 cryptos

Bitcoin and Ether rose in Asian trading on Monday afternoon. Most other top 10 non-stablecoin cryptocurrencies strengthened, led by gains in Litecoin

S.Korean prosecutors mull second request of arrest warrant for Terra cofounder Daniel Shin

Seoul judge dismisses prosecutors’ request for arrest warrant for Terra’s Daniel Shin, derails their plan to investigate Shin in custody

Markets: Bitcoin back above US$17,000, Ether gains along with other top 10 crypto

Bitcoin traded above US$17,000 Monday morning in Asia, with all the top 10 non-stablecoin cryptocurrencies by market cap gaining ground.