October 2022
Fidelity Digital Assets to allow clients to trade Ether
Fidelity Digital Assets will allow clients to trade Ether from Oct. 28, according to a company email shared by Fidelity’s customers via Twitter. See related article: Fidelity considers Bitcoin trading on brokerage platform: WSJ Fast facts Institutional investors will be able to buy, sell and trade ETH, the second-largest cryptocurrency by market cap. “With the […]
First Digital Trust says HK, Singapore can join hands on crypto initiatives
In a Q&A with Forkast, First Digital Trust Chief Executive Officer Vincent Chok shared his views on Hong Kong getting back into crypto, regulations, and how the crypto pie in Asia is big enough for rivals Singapore and Hong Kong.
Japan eases token vetting process to expand crypto offerings: report
Japan’s Virtual and Crypto assets Exchange Association (JVCEA), the self-regulatory body that oversees local crypto exchanges, will allow platforms to list cryptocurrencies without an existing lengthy screening process, according to Bloomberg. See related article: Japan pushes for tougher crypto AML regulations amid N. Korean cyberattacks Fast facts The easing is expected to take place as […]
Hong Kong digital asset firm sets up US$50 mln fund to expand mining business amid crypto winter
Hong Kong-based digital asset management firm JKL Group will set up a US$50 million fund to buy more mining machines to further expand its mining facilities, despite the current crypto winter.
Terra CEO Do Kwon, wanted in South Korea, left Singapore and flew to parts unknown via Dubai
Kwon Do-hyung, the cofounder and chief executive officer (CEO) of Terraform Labs Pte. Ltd., also known as Do Kwon, left Singapore last month and landed in Dubai, United Arab Emirates, South Korean prosecutors confirmed with Forkast.
Why local language education holds the key to crypto’s future
The crypto sector operates mainly in English, but more than 6 billion people — many of whom crypto would benefit the most — use other languages, writes Wei Zhou of Coins.ph.
Markets: Bitcoin, Ether fall along with rest of crypto top 10; Uniswap gains
Bitcoin and Ether both fell in Thursday morning trading in Asia and with the exception of stablecoins, all other top 10 cryptocurrencies by market capitalization lost ground.
Finders Keepers?
What constitutes as stealing isn’t as black and white to all of us – what happens if crypto exchanges accidentally refund a little too much money?
Horizon Worlds fails to lift Meta as users stay away
Top blockchain and crypto news: Mark Zuckerberg’s empty metaverse. South Korea to roll out blockchain IDs. Macau bets on digital money.
Bitcoin makes the Guinness World Records list as the first decentralized cryptocurrency
Bitcoin also received additional entries to the annual list, now a record holder for the “oldest cryptocurrency,” the “most valuable cryptocurrency” and the “first blockchain.”
Markets: Bitcoin, Ether fall with top 10 cryptos, XRP slumps
Bitcoin fell in Wednesday afternoon trading in Asia along with the top 10 cryptocurrencies by market capitalization, excluding stablecoins, with XRP holders suffering the steepest losses at 3.93%.
South Korea indicates fugitive Do Kwon’s passport still valid; his location unknown
Kwon has been issued with an Interpol “red notice” requesting his extradition on charges brought by South Korea related to the implosion of the Terra Luna cryptocurrency project he founded
Crypto bank Nuri to shut down, asks customers to withdraw funds
German crypto bank Nuri (formerly known as Bitwala) has asked customers to withdraw their funds by Dec. 18 so that the “business can be terminated and liquidated.”
EU targets Bitcoin with energy efficiency labeling for crypto
This isn’t the first time the bloc has examined cracking down on Bitcoin mining, and it comes amid a growing push from regulators to examine the industry’s carbon footprint.
Markets: Bitcoin, Ether fall as EU considers crackdown on energy-intensive crypto mining
Bitcoin and Ether both fell in Wednesday morning trading in Asia amid news the European Union is considering a bill to restrict the mining of energy-intensive cryptocurrencies, such as Bitcoin. Most of the rest of the cryptocurrency top 10 by market capitalization, excluding stablecoins, also declined, with the exception of Polygon. See related article: Bitcoin, […]
Ripple devs push for Ethereum smart contract compatibility with XRPL sidechain
The first XRP Ledger (XRPL) Ethereum Virtual Machine (EVM) compatible sidechain has gone live on the parallel test network, XRPL Devnet, Ripple developers announced on Monday.
One country, two systems? Hong Kong seems set to diverge from China on digital assets
Hong Kong seems set to put out a new welcome mat for the blockchain and crypto industries, but will it work after concern about regulatory restrictions convinced many cryptocurrency operators to leave?
Markets: Bitcoin, Ether rise; Polygon, Solana lead gainers among the top 10 tokens
Bitcoin and Ether rose as all top 10 tokens by market capitalization, excluding stablecoins, gained in Tuesday morning trading in Asia. Polygon led the list. Solana followed on news a leading non-fungible token (NFT) marketplace will suspend transaction fees. See related article: Gold commodities market could enter the blockchain, according to new industry initiative Fast […]
Mastercard to let banks offer crypto services to clients
Global payments company Mastercard intends to enable financial institutions to offer crypto services to customers with its new Crypto Source program. See related article: Binance partners Mastercard to launch card in Argentina for bill payment, everyday purchases Fast facts The program will allow financial institutions to tap into Mastercard’s partners to buy, hold and sell […]
India wants global, tech-driven regulatory framework for crypto
As India prepares to begin its one-year presidency of the Group of 20 (G20) beginning Dec. 1, it will look to work toward a global, tech-driven regulatory framework for cryptocurrency, India’s finance minister Nirmala Sitharaman said. See related article: India’s finance minister calls on G20 to share information on crypto Fast facts “During our engagements, […]
Markets: Bitcoin inches up, most top 10 cryptos stable after rollercoaster week
Bitcoin inched up slightly Monday, with the majority of the top 10 cryptocurrencies by market capitalization remaining stable, the only considerable price change coming from XRP’s 3% drop. See related article: South Korea seeks software to track US$7.2B in illegal crypto Fast facts Bitcoin rose 0.83% in the past 24 hours to trade at US$19,296 […]
Why the crypto bear market can be a bull for innovation
The market may be in the doldrums, but there’s no better time to clean house and build for the future, writes Clayton Roche of UMA. Here are 5 areas of opportunity.
Magic Eden, largest Solana-based NFT platform, makes royalty fees optional
The platform said the move was in line with growing market trends, but some are concerned about what it means for the industry.
Macau is betting on digital currency, CBDC as legal tender
The city of Macau, a special administrative region of China and home to a thriving casino industry, is seeking to grant digital currency status as legal tender, the Executive Council of Macau announced on Friday. See related article: Macao needs China’s heft in tech to introduce CBDC, official says Fast facts See related article: Macao […]
Markets: Bitcoin rises as Ether leads gains in crypto top 10
Bitcoin and Ether were trading higher along with top 10 tokens by market capitalization excluding stablecoins in Monday morning trading in Asia, as the world’s largest cryptocurrency remained above US$19,000. XRP was the only token on that list to fall. See related article: Ethereum supply would have grown by 350,000 tokens under PoW Fast facts […]
Ethereum supply would have grown by 350,000 tokens under PoW
A recent token launch on Ethereum pushed the network into a deflationary state and the blockchain’s shift to PoS may lower supply even further.
Fintech Cooling Ahead?
Fintech’s growth in the EU has been described as “unprecedented”, but a report warns of consolidation in the years to come.
South Korea seeks software to track US$7.2B in illegal crypto
South Korea’s Supreme Prosecutors’ Office is looking to hunt down illegal crypto funds by purchasing a software program that tracks down crypto transactions and sources, a local media outlet reported Friday. See related article: DPRK hackers sneak US$52 mln in crypto into S.Korean exchanges: Chainalysis Fast facts The tracking program is expected to be used […]
Tether says it slashed all commercial paper, replaced with US Treasury bills
Tether, issuer of the world’s largest stablecoin, said in a blog post it has cut its commercial paper holdings to zero and replaced them with U.S. Treasury bills. See related article: Are stablecoins like Tether ready for regulatory scrutiny? Fast facts See related article: SEC fines former Tether auditor over accounting malpractice
Bitcoin fans pitch Satoshi Nakamoto for Nobel Prize in Economics
Bitcoin advocates have once again launched their annual campaign to have Satoshi Nakamoto — the pseudonymous creator/s of Bitcoin — named as the recipient of the Nobel Prize in Economic Sciences. See related article: What’s next for Binance after $100 million BNB hack? Fast facts On Oct. 10, the Royal Swedish Academy of Sciences awarded […]
Markets: Bitcoin rebounds with equities after inflation data sparks initial sell off
Bitcoin traded back above US$19,000 in Friday morning trading in Asia, rebounding with U.S. equities from a sharp drop that followed a September inflation reading in the U.S. Consumer Price Index (CPI) report on Thursday that was higher than expected. BNB and memecoin Shiba Inu were two other tokens among the top 10 by market […]
Bitcoin drops 3% as U.S. inflation rises 0.4% in September
Bitcoin dropped 3% after the U.S. Bureau of Labor Statistics (BLS) reported that the consumer price index (CPI), a key inflation indicator, rose 0.4% in September from August. See related article: Fed’s inflation fight batters crypto market as pressure mounts Fast facts The largest cryptocurrency by market capitalization traded at US$18,432 at 10:30 p.m. Hong […]
Ethereum price undervalued since The Merge: report
Nearly half of 55 fintech and crypto experts believe Ethereum has been underpriced since the network became a proof-of-stake blockchain through “The Merge” upgrade last month, according to a recent report from financial service firm Finder. See related article: Why YOU should back Ethereum’s Fork Fast facts While 46% of the surveyed panelists said Ether […]
India police launches blockchain-based complaint portal on Polygon
The Indian police unit in Firozabad city in the northern state of Uttar Pradesh has launched an online complaint portal powered by Ethereum scaler Polygon. See related article: Blockchain in India got off on wrong foot, says former finance chief Fast facts The pilot portal, policecomplaintonblockchain.in, leverages blockchain technology’s immutability, which means complaints cannot be […]
Crypto.com to invest US$145 mln in France as base for European operations
Crypto.com said on Wednesday that the exchange will invest €150 million (US$145.5 million) in France to set up a European headquarters in Paris and expand operations in the region. See related article: Crypto.com enters South Korea market with two local startup acquisitions Fast facts The Singapore-based exchange said it will focus on compliance, business development […]
India’s crypto taxes provide headache for many, opportunity for some
One company says it’s bringing solutions for confused investors in digital assets in India who grapple with hours of tax calculations.
Coin Center files lawsuit over Tornado Cash sanctions, defends crypto privacy rights
Coin Center, a non-profit think tank on cryptocurrencies and public policy, announced Wednesday it was filing a lawsuit against the U.S. Treasury Department’s Office of Foreign Asset Control (OFAC), alleging the agency overreached its authority when it sanctioned cryptocurrency mixer Tornado Cash in August. See related article: What is the future for cryptocurrency mixers after […]
Fed’s top bank watchdog eyes new regulation for banks doing crypto
Crypto-asset related activities may pose “novel risks” to banks and their customers, prompting the U.S. Federal Reserve to develop further regulations, Fed vice chair for supervision Michael Barr said in a speech Wednesday at D.C. Fintech Week. See related article: U.S. Fed has growing interest in CBDCs, says Jeng at Crypto Council for Innovation Fast […]
Is crypto suffering from the same ills as TradFi?
Centralized lenders like Celsius and Voyager have proven hugely problematic, but DeFi also has big issues. What if we pursue a hybrid approach?
Markets: Bitcoin, Ether prices rise; BNB little changed following BSC hard fork
Bitcoin gained in Thursday morning trading in Asia, with the world’s largest cryptocurrency holding above support at US$19,000. Ether, second on the list of top 10 cryptocurrencies by market capitalization, excluding stablecoins, also gained. Other coins on the top 10 moving higher included Solana, XRP and Tron. Cardano fell. See related article: Binance to hard […]
Centralized or Decentralized?
As blockchains experience outages, what steps should developers take to best prevent future incidents?
Indian investors allegedly duped in crypto cloud mining scam
About thirty investors in India have been allegedly duped of US$54,653 through a crypto cloud mining app, local media reported. See related article: India financial crime unit cites ‘Chinese-controlled entities’ in alleged crypto fraud Fast facts Investors from Solapur city in India’s Maharashtra state were allegedly duped by fraudsters who lured them to download the […]
Solana-hosted DeFi platform Mango exploited for over US$100 mln
Mango Markets, a decentralized platform hosted on the Solana blockchain, was exploited for over US$100 million. See related article: What is the Solana ecosystem and how is it fueling SOL’s stratospheric rise? Fast facts Mango’s token MNGO was severely impacted, dropping 42.9% in the past 24 hours to US$0.023 as of 11:15 a.m. in Hong […]
BNY Mellon, largest custodian bank, starts Bitcoin, Ether custody services
Bank of New York Mellon Corp., a 238-year-old bank based in the U.S., is now allowing select U.S. clients to hold and transfer Bitcoin and Ether, the bank announced in a press release on Tuesday. See related article: Crypto self-custody is no longer a choice. It’s an imperative. Fast facts BNY Mellon will store private […]
Markets: Bitcoin price falls with Ether, Doge sole gainer in top 10 cryptocurrencies
Bitcoin fell but held above US$19,000 in Wednesday morning trading in Asia as the world’s leading cryptocurrency continued its month-long dalliance with that support level. Excluding stablecoins, most of the top ten cryptocurrencies by market capitalization fell, led by Solana. Dogecoin was the only token on the list to gain ground. See related article: BNB […]
Google Cloud partners Coinbase for crypto payments, data services
Coinbase, the largest cryptocurrency exchange in the U.S., has formed a strategic Web 3.0 partnership with Google Cloud, the Nasdaq-listed exchange said in a statement on Tuesday. See related article: Coinbase gets nod from Dutch central bank to offer crypto services Fast facts As part of the partnership, Google Cloud will allow select customers to […]
Top Ethereum gas guzzler XEN Crypto is crunching ETH supply
Ethereum’s supply growth entered a deflationary state on Saturday, a first for the blockchain since The Merge upgrade that shifted the network to a proof-of-stake consensus mechanism in September. See related article: Scalability is Ethereum’s post-Merge focus: Vitalik Buterin Fast facts Ether’s (ETH) burn rate has gone up along with gas fees (transaction fees) since […]
Shenzhen leads China in cross-border CBDC transactions: report
Companies in Shenzhen in mainland China made up one-third of the transaction volume in a cross-border central bank digital currency (CBDC) bridge pilot project, according to a report by Chinese media outlet 21Caijing, citing Shenzhen’s local financial authority. See related article: Australia Senator proposes regulating Chinese banks in country using e-CNY Fast facts See related […]
Justin Sun, SBF again deny involvement in Huobi Global sale
The founder of blockchain network Tron, Justin Sun, and crypto exchange FTX founder Sam Bankman-Fried each denied for a second time that they have participated in purchasing a majority stake in Huobi Global, after crypto media outlet Wu Blockchain said on Monday that Sun was actually the Chinese crypto exchange’s behind-the-scenes purchaser, with Bankman-Fried was […]
Bitcoin mining difficulty hits new high after Ethereum ‘Merge’ makes space
Bitcoin mining difficulty climbed to a record high on Monday, a large part of which is attributed to Ethereum’s “Merge” upgrade freeing up more room for Bitcoin miners, according to Bloomberg. See related article: Brazil police bust crypto group led by ‘Bitcoin Sheikh’ Fast facts Bitcoin mining difficulty, a measure of the amount of work […]
Markets: Bitcoin price slides, Ether drops with rest of crypto top 10, XRP leads losses
Bitcoin and Ether fell along with all other top ten cryptocurrencies by market capitalization in Tuesday morning trading in Asia, with the world’s largest cryptocurrency barely holding at the support line of US$19,000, a mark it has fluctuated around for much of the past month. See related article: Markets: Bitcoin rises but remains below US$20,000; […]
Singapore eyes blockchain-based payment systems for faster cross-border transactions
The Monetary Authority of Singapore is exploring blockchain-based payments solution to solve the challenges in cross-border transactions. See related article: Singapore warms up to crypto industry — on its own terms Fast facts The current state of cross-border payments “is slow, costly, opaque, and inefficient, relying on an archaic network of correspondent banks,” Ravi Menon, […]
UAE crypto market expected to grow 10-fold: report
The cryptocurrency market in the United Arab Emirates (UAE) is expected to grow 10 times, according to a new report from MENA blockchain ecosystem, Crypto Oasis, released Monday at a blockchain conference organized by the Dubai World Trade Centre. See related article: New hire in Saudi Central Bank to work on crypto regulations: report Fast […]
The Digital Rupee
Despite India’s repeated warnings against cryptocurrencies, crypto exchange giants WazirX remain hopeful of a digital rupee.
WazirX wants to integrate India’s digital rupee
Cryptocurrency exchange WazirX will look to integrate India’s central bank digital currency (CBDC) “if all goes well,” vice president Rajagopal Menon told Forkast in a video interview on Monday. See related article: RBI to begin CBDC pilots, outlines wholesale, retail concepts Fast facts “We would love to onboard the e-rupee and you can buy your […]
Brazil police bust crypto group led by ‘Bitcoin Sheikh’
Gold bars, cash, jewelry, cars and luxury watches bought with defrauded funds are seized.
Markets: Bitcoin rises but remains below US$20,000; Ether gains, XRP leads crypto top 10
Bitcoin has gained slightly but was still trading below US$20,000 on Monday morning in Asia, having fallen below that support line late last week after fluctuating around that level for most of the past month. Ether and the rest of the crypto top 10 by market capitalization also rose slightly, with XRP seeing by far […]
RBI to begin CBDC pilots, outlines wholesale, retail concepts
The Reserve Bank of India (RBI) will soon begin to pilot the digital rupee for specific use cases, it said in a concept note on its central bank digital currency (CBDC). See related article: Sweden’s central bank to test use of retail CBDC for instant payments Fast facts India’s central bank said in the concept […]
S.Korea’s parliament audit on Terra-LUNA falls short of expectations
The National Assembly wanted to get to the bottom of the Terra-LUNA collapse on Thursday. At the end of a long and speech-filled day, lawmakers left empty-handed.
Arrested Terra employee, Do Kwon associate, released from custody amid S. Korea Terra-LUNA probe
Yoo (full name was not revealed), the head of general affairs at Terraform Labs Pte. Ltd. and close associate of unlocated chief executive officer (CEO) Kwon Do-hyung, or Do Kwon, has been released from custody since being arrested Thursday as part of an ongoing investigation into Terra-LUNA. Yoo is not contending his alleged association with […]
Middle East & North Africa lead crypto adoption driven by inflation, remittance payments: Chainalysis
Emerging markets dominated the 2022 Global Crypto Adoption Index, with Latin America second in transaction volume growth.
Markets: Bitcoin dips; BNB drops on chain glitch; Ether, XRP little changed
Bitcoin dipped under the US$20,000 support line in Friday morning trading in Asia, a price it has repeatedly fluctuated around for several weeks. Ether, the second largest token by market capitalization, was little changed and up about 2% on the week. Most other coins in CoinMarketCap’s top 10 by market capitalization were flat to lower. […]
EU Council approves MiCA text for crypto regulation
The European Council on Wednesday approved a proposal for cryptocurrency regulation known as the Markets in Crypto Assets Regulation (MiCA), in the first move towards establishing a licensing mechanism for crypto exchanges and assets in Europe. See related article: Bitcoin, proof-of-work ban removed from European Union’s MiCA Fast facts Lawmakers at the European Parliament are […]
South Korea’s Dunamu CEO blames weak regulation for Terra-LUNA aftermath
Widespread damage from the Terra-LUNA collapse can be attributed to a poor local regulatory framework, said Lee Sir-goo, CEO of South Korea’s blockchain and fintech company Dunamu Inc. at a special session of the National Assembly. See related article: S.Korea gov’t failed, special prosecutor needed on Terra-LUNA, lawmaker says Fast facts Lee appeared before lawmakers […]
Ripple slams SEC’s opposition to brief motions in XRP lawsuit
Ripple Labs has spoken against the U.S. Securities and Exchange Commission’s opposition to motions from two firms that had requested to file amicus briefs in support of Ripple, in the lawsuit that the SEC filed in 2020 against Ripple. See related article: SEC opposes motions from two firms seeking to back Ripple in XRP lawsuit […]
Terra’s network validator DSRV Labs CEO denies prior knowledge of Terra-LUNA collapse
Validators of Terra blockchain had no knowledge of the US$60 billion collapse of Terra-LUNA prior to the crash, said South Korean blockchain infrastructure provider DSRV Labs chief Kim Ji-yun. in response to the National Assembly’s parliamentary audit on the Financial Services Commission on Thursday. See related article: Terra CEO Do Kwon to lose his passport […]
Singapore’s central bank says illegal crypto operations will be hunted down
The Monetary Authority of Singapore (MAS) said illegal crypto-related businesses are operating in the city state and it is working with the police to identify and prosecute them. See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts In a reply to a Parliamentary question, Tharman Shanmugaratnam, senior minister […]
Aussie laundered stolen retirement funds via Hong Kong using crypto, diamonds
A woman in Melbourne, Australia pleaded guilty on Wednesday to her role in stealing millions of dollars from superannuation (retirement) funds and stock portfolios before laundering the proceeds via Hong Kong through the purchase of cryptocurrency and diamonds, as reported by The Age newspaper. See related article: Australian superannuation and institutions await clarity to invest […]
South Korea makes first arrest in Terra-LUNA investigation
South Korean prosecutors have arrested a Terraform Labs employee, in their first arrest under the investigation of the Terra-LUNA collapse. A bench warrant, which allows law enforcement to take suspects into custody, was issued on Wednesday for the arrested employee. See related article: Terra CEO Do Kwon to lose his passport within a month Fast […]
S.Korea gov’t failed, special prosecutor needed on Terra-LUNA, lawmaker says
South Korean ruling party lawmaker Yoon Sang-hyun asserted that the country needs to appoint a special prosecutor to investigate the Terra-LUNA collapse, which affected over 280,000 people locally, in comments at the National Assembly’s parliamentary audit on the Financial Services Commission (FSC), South Korea’s top financial regulator. See related article: South Korea’s investigation of Do […]
Ripple Labs joins blockchain carbon credit partnership
Ripple Labs Inc., the firm whose payment network is powered by the self-described carbon-neutral cryptocurrency token XRP, has partnered with Web3 climate startup Thallo and various other companies to build a carbon credit market on the blockchain. See related article: SEC opposes motions from two firms seeking to back Ripple in XRP lawsuit Fast facts […]
S.Korea financial regulator restates support for blockchain, crypto protections
Kim Joo-hyun, the chairman of South Korea’s top financial regulator, the Financial Services Commission (FSC), said on Thursday the agency will promote blockchain technology and user protections in the crypto market. See related article: South Korea’s all-encompassing crypto law is coming — what we know so far Fast facts “In cooperation with the National Assembly, […]