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1083 articles

July 2022

Crypto’s biggest problem is not volatility, but scalability

Notwithstanding this bear market, Web3’s more pressing issue is its inability to handle large volumes, writes Greg Gopman. Can sidechains offer a solution?

MAS mulls crypto limits; Pacquiao’s Pacman NFTs

Singapore’s monetary authority mulls on crypto limits. Meanwhile, Manny Pacquiao drops his NFT collection despite the crypto winter.

Crypto winter hits NFTs; Three Arrows Capital files for bankruptcy

Three Arrows Capital files for bankruptcy in the US. Meanwhile, SBF and FTX agrees deal with option to buy for up to US$240 million.

CFTC Commissioner Pham suggests regulators stay tech-neutral on stablecoins

The crash of Terra-LUNA threw the entire crypto space into a dark funk, and raised questions about the safety and role of stablecoins. CFTC Commissioner Caroline D. Pham offers a regulators’ viewpoint at a Forkast+ exclusive event.

FastForkast headlines

‘Wolf of Wall Street’ says Bitcoin investments will be profitable in three to five years

Nexo in talks to buy out Vauld

Celsius repays debts, cuts jobs amid bankruptcy fears

Can Cardano pack a punch with Pacquiao NFTs?

Vauld halts withdrawals, trading, deposits; explores restructuring

Singapore may limit retail participation in crypto

Crypto lender CoinLoan reduces its daily withdrawal limit by 99%

CEL soars 17%; reclaims spot in top 100 crypto by market cap

Meitu’s Bitcoin, crypto investments down by over US$50 mln

Indian crypto trading volume drops as much as 63% after new tax

EU’s new crypto rule requires stablecoin issuers to hold more reserves

Roger Ver says he will issue statement on default dispute with CoinFLEX

VanEck files for spot Bitcoin ETF despite Grayscale rejection

Cryptocurrencies a clear danger: India central bank chief

MAS takes aim at Three Arrows Capital, does not impose penalty

Bitcoin drops below US$19K as crypto bleeds further losses

July 2022

3AC contagion fears; Saylor buys more Bitcoin

3AC has reportedly been told to liquidate. Meanwhile, Microstrategy’s Saylor buys another US$10 million worth of BTC.

India’s latest tax assault on crypto exchanges starts Friday

India’s government can’t seem to decide on following China with an outright ban on crypto trading. So is it bent instead on suffocating traders and exchanges with taxes?

Why tougher crypto regulations are urgently needed

Lack of public trust remain a big barrier to crypto adoption, writes Tristan Roozendaal. Here’s why regulators should ‘move fast and break things.’

Voyager calls time on Three Arrows as crypto fund teeters on the brink

Top blockchain and crypto news: Three Arrows fallout spreads. BIS calls BS on crypto. Chinese regulatory vacuum chills an NFT platform.

Bitcoin Jesus denies default; Celsius fight back planned

Bitcoin CEO Roger Ver denies defaulting on a loan to CoinFLEX. Meanwhile, Youtuber Bitboy takes aim at Celsius Network.

Wall Street seems to sense opportunity in distressed crypto markets

While critics say the bubble has burst on crypto, Wall Street is moving in to take advantage of what could be some fire-sale asset prices.

CoinFLEX issues recovery tokens; MAS says cryptos not currencies

CoinFLEX to solve its liquidity problems by issuing a recovery token. Meanwhile, Singapore’s central bank doubts crypto capabilities.

Singapore’s central bank says cryptocurrencies have ‘no fundamental value’

Whither Singapore in the cryptocurrency world? The Monetary Authority of Singapore has some views on that and as with most markets, there are winners and losers.

Warnings on crypto, Bitcoin have materialized, says central bank body BIS

Deeper structural flaws in crypto make it unsuitable as the basis of a monetary system that serves society, the Bank for International Settlements said in its annual report.

Mind the gap: Bridging the divide between DeFi and CeFi to grow yield

As traditional finance sector firms continue to seek upside crypto exposure, bringing DeFi yields to TradFi has a bright future, says B2C2’s Phillip Gillespie.

How a market slump may be helping Singapore’s stance against retail crypto

One door closes and another opens, which seems to be what’s happening in Singapore as the crypto price slump restructures the trading environment.

Crypto lending platforms, DeFi seem to be having an Animal Farm moment

In a decentralized society envisaged under crypto, everybody is reportedly equal. But as the market strains under considerable stress, it’s showing some are more equal than others.

What is the right approach to regulating stablecoins?

Terra UST’s crash and burn is prompting calls for regulations. But lawmakers shouldn’t paint all stablecoins with the same brush, writes Alan Chiu.

Crypto winter ushers in account freezes as platforms feel the chill

Top blockchain and crypto news: Investors snowed in as liquidity crunch hits. Solend harpoons anti-whale maneuver. Chinese NFTs prove a tricky target.

Cardano delays upgrade; Shib and Doge make gains

Dogecoin and Shiba Inu make gains as Elon Musks tweets support. Meanwhile, Vauld joins other crypto exchanges in axing staff.

STEPN’ing it up with crypto move-to-earn

Enticed by promises of crypto rewards, Joel Stein hits the streets of Los Angeles with a beautiful NFT sneaker. What does he earn — and learn?

S.Korea blocks ex-Terra employees from leaving country amid investigation

Prosecutors said they also wish to interview Terraform Labs Chief Executive Officer Kwon Do Hyung as part of an investigation into the multibillion dollar collapse of the company.

Crypto self-custody is no longer a choice. It’s an imperative.

Celsius and Babel Finance’s freezing of customer accounts highlights the risks of intermediaries, writes Nick Saponaro. Crypto users should take back control.

FastForkast headlines

Bitcoin drops below US$19K as crypto bleeds further losses

Bitcoin, crypto fall amid reports of 3AC’s court-ordered liquidation

Pantera Capital says more crypto meltdowns likely

Michael Saylor’s MicroStrategy buys more Bitcoin

Marathon Digital says Montana storm knocked out most Bitcoin rigs

Taiwan completes trials of its prototype CBDC for retail use

Roger Ver denies defaulting on US$47 mln loan from CoinFLEX

Cypherpunk dumps Bitcoin and Ether to avoid more drawdowns

Voyager Digital issues notice of default to 3AC

CoinFLEX to issue US$47 mln in tokens as it waits for ‘crypto whale’ to pay up

Chinese blockchain developer calls crypto a Ponzi scheme

Investors yank US$453 mln from Bitcoin: report

Australia’s ANZ stablecoin used to purchase carbon credits

India’s CoinDCX says it restricted crypto withdrawals

Goldman Sachs said to raise US$2B for Celsius assets: report

Digital yuan transactions top US$73 mln in Guangzhou

Terra CEO Do Kwon denies allegations of fraud

Chinese police say cryptocurrency being used to launder drug money

Crypto volatility hasn’t had macroeconomic implications so far: Jerome Powell

Amid 3AC exposure, Voyager Digital cuts daily withdrawal limit

South Korea’s SK Square said to put off crypto issuance

Solana bets on mobile, launches US$1,000 ‘Saga’ Web3 phone

India tax authorities to discuss 28% GST on crypto trading next week

Tether to offer new sterling-pegged stablecoin, GBPT

Bitcoin mining difficulty reading drops 2.35% in latest adjustment

Bitcoin, cryptocurrencies return to red with soaring UK inflation

Singapore grants in-principle approval toward offering payment services

Celsius community adopts GameStop tactics to squeeze out short sellers

Pumped by Elon Musk, Dogecoin gains amid slow market recovery

Cardano delays Vasil blockchain upgrade, citing bugs and ‘abundance of caution’

Valar Ventures-backed Vauld to lay off 30% of staff

Crypto is based on the greater fool theory: Philippines’ incoming central bank chief

Bybit to cut up to 30% of its workforce

Babel Finance says liquidity pressure eased with new debt agreements