Cryptocurrencies

U.S. Senators Elizabeth Warren, Dick Durbin and Tina Smith asked Fidelity Investments to rethink its decision to grant retirement plan exposure to Bitcoin.

Investors are unnerved by the possibility of more failures among companies linked to the now bankrupt FTX exchange, fearing a repeat of the Terra-Luna stablecoin collapse in May that also brought down other businesses.

Coinbase Custody Trust, the institutional investment arm of Coinbase Global, holds 635,000 BTC on behalf of Grayscale Bitcoin Trust, according to a note by Coinbase Custody CEO Aaron Schnarch. Digital investment firm Grayscale has also declined to share proof of reserves, citing security concerns.

Bitcoin and Ether extended their losses through late Asian trading on Monday, as did all the top 10 non-stablecoin cryptocurrencies by market capitalization. Dogecoin was the biggest loser. 

Bitcoin mining difficulty rose 0.51% to an all-time-high in Monday’s biweekly adjustment, according to BTC.com.

Human greed and deception led to FTX’s fall. That’s why the antidote is not more regulations but could be found in blockchain’s original promises, writes Marieke Flament, CEO of NEAR Foundation.

The U.S. SEC has received support from sports investing group New Sports Economy Institute, which submitted its amicus brief on Friday to weigh in on the ongoing lawsuit between the SEC and Ripple.

S.Korean authorities are looking into self-issued cryptocurrencies that may exist within local exchanges following FTX.com’s FTT-led liquidity crisis.

Input Output Global Inc. (IOG), the firm behind the Cardano blockchain, is releasing a new data-protection and privacy-centric blockchain and accompanying token.

The world’s largest publicly traded hedge fund manager, Man Group Plc, plans to launch a cryptocurrency exclusive fund.

Bitcoin and Ether both fell in Monday morning trading in Asia along with all of the top 10 non-stablecoin cryptocurrencies by market capitalization.

Cryptocurrencies are getting in the way of the mass adoption of blockchain technology, especially by tech businesses, says Red Date Technology chief Yifan He.

FTX’’s failure to keep its sister company Alameda Research solvent was likely attributed to the liquidity crunch brought on by the Terra-LUNA collapse, according to Nansen.

Terra cofounder Daniel Shin reportedly told S.Korean prosecutors during an investigation on Thursday that he did not sell LUNA at a high point.

Bitcoin traded little changed Friday morning in Asia, while Ether fell along with most other non-stablecoin top 10 cryptocurrencies by market capitalization.

Taiwan’s economy has taken a hit due to lowered demand for its number one export and repercussions of the Chinese Mainland’s zero-COVID policies. How has that shifted the Taiwanese government’s attitude towards crypto?

Terra’s former executive Daniel Shin’s US$100 million were frozen on Thursday; Do Kwon tweets that the Terra team did everything to save UST

U.S. lobby group Blockchain Association, along with other institutions and firms, have formally filed amici briefs to support Ripple Labs Inc. in the ongoing lawsuit between the U.S. SEC and Ripple.

Yes, there is rivalry between the two global finance hubs. But their strengths are also complementary for Asia to become an even bigger crypto powerhouse, writes Lily Z. King.

Bitcoin and Ether prices fell in Thursday morning trading in Asia along with all other top 10 tokens by market capitalization, excluding stablecoins.

The collapse of FTX may extend crypto winter to the end of 2023, according to a monthly outlook report by U.S.-based crypto exchange Coinbase dated Nov. 15.  

Bitcoin outflows from centralized crypto exchanges rose to a historic high this week, as investors turned to self-custody options following the collapse of FTX.

Top blockchain and crypto news: FTX fallout spooks sector. Crypto.com’s $400 million ‘accident.’ Hong Kong’s new digital asset drive.

Circle, the issuer of U.S. dollar-pegged stablecoin USDC, has said that stronger competition in the stablecoin market is likely to pressure Circle stablecoins, thereby slowing its growth and weighing on the financial outlook of the company. 

Daniel Shin’s Chai Corporation, which partnered with Terraform Labs in 2019, is accused of violating capital market rules in past dealings with Terra.

Bitcoin and Ether rose on Wednesday morning in Asia amid reports of alleged Russian missile strikes on Poland while inflationary data out of the U.S. provided support.

The address associated with the FTX hack swapped US$48.2 million worth of DAI stablecoins to 37,570 Ether and became the 35th largest holder of the world’s second-largest crypto.

U.S.-based cryptocurrency exchange Coinbase has officially submitted its amicus brief to support Ripple in the lawsuit the U.S. SEC filed in 2020 against Ripple.

A rise in Bitcoin prices is the most important factor for a significant increase in the number of new investors, instead of distrust in public institutions, dislike for traditional banks, or search for a store of value, according to a report by the Bank for International Settlements. 

Panelists at Forkast’s livestreamed event ‘Crypto Rising: How Top VCs Are Investing Out of Crypto Winter’ shared their thoughts on the future of the industry following FTX.

Unlike the 2008 crash, the government won’t be bailing out FTX’s investors, writes Nick Saponaro of Divi Labs. Will regulators see this as a cue to crack down on exchanges?

DeFi remains unusable for all beyond a niche community, writes Dennis Jarvis of Bitcoin.com. ‘Should it stay like this, it will never attract a wide audience.’

The following is a running compilation of views and comments on the FTX bankruptcy and implications for the industry.

Daniel Shin has been summoned by South Korean prosecutors to attend an investigation as a suspect for allegedly earning ill-gotten profits with LUNA.

The collapse of one of the world’s biggest crypto exchanges last week has investors worried about the finances of other trading platforms. Cold wallet time?

The Monetary Authority of Singapore (MAS) has partnered The New York Innovation Center of the Federal Reserve Bank of New York, to study if wholesale central bank digital currencies (wCBDCs) can make cross-border payments more efficient.

Tron founder Justin Sun’s plans to save FTX include debt, equity investments and a full takeover, he told BloombergTV on Friday, Asia time.

Three more companies and organizations have requested to weigh in on the ongoing lawsuit the SEC filed in 2020 against Ripple.

The following is a running compilation of views and comments on the possible short- and long-term outcomes of FTX’s liquidity crunch.

Bitcoin rose on Friday in Asia along with Ether and most other major tokens, reversing  a three-day slump as the Consumer Price Index (CPI) released Thursday showed inflation in the U.S. slowed in October.

Bitcoin gained 5% after the U.S. Bureau of Labor Statistics reported that the consumer price index (CPI), a key inflation indicator, rose 0.4% in October from September. CPI was up 7.7% from a year earlier, less than the expected 7.9%, and down from 8.2% in September. October’s CPI recorded the smallest 12-month increase since January. 

The FTX.com unraveling has prompted crypto industry leaders to demand clearer rules of the road for trading digital assets.

Just over 24 hours after news of Binance’s planned acquisition of FTX shook the crypto market, a reversal of that decision sent prices even lower.

Binance may scrap its proposal to acquire cryptocurrency exchange FTX, after examining FTX’s “internal data and loan commitments,” according to an unnamed source “familiar with the matter” cited by CoinDesk on Wednesday. 

The sudden downfall of top cryptocurrency exchange FTX will bring in more regulatory scrutiny and raise the difficulty of obtaining licenses around the world, Binance founder and chief executive Changpeng Zhao said in an internal note, which he shared with the public via Twitter on Wednesday. 

Binance, the world’s largest cryptocurrency exchange, has raised its emergency insurance fund “SAFU” to US$1 billion equivalent in cryptocurrencies, founder Changpeng Zhao said in a Tweet on Wednesday. 

Bitcoin fell to a year’s low of US$17,603 in Tuesday morning trading in Asia as Binance Global Inc.’s takeover of the FTX exchange unnerved investors.

CBDCs are the latest fad amongst central banks around the world – but how can they change our lives?

The U.S. Department of Justice revealed on Monday that in 2021 it seized US$3.36 billion worth of stolen Bitcoin from Georgia real estate developer James Zhong.

Bitcoin dipped below US$21,000 in Tuesday morning trading in Asia as Ether and most other tokens in the cryptocurrency top ten by market capitalization, excluding stablecoins, lost ground.

Central bank digital currencies draw fire over inflation, privacy and threat to innovation, as questions raised over status of stablecoins in digital asset ecosystem.

How can collaboration help advance digital age and blockchain technologies?

The U.S. SEC has received approval from the court to extend the time for all parties to submit reply briefs, in the ongoing lawsuit the SEC filed in 2020 against Ripple.

WazirX, India’s largest cryptocurrency exchange by trade volume, has introduced a profit and loss function for users to analyze and calculate their investments. 

Bitcoin mining difficulty nudged down 0.2% in Monday’s biweekly adjustment, according to data from BTC.com.

Bitcoin and Ether fell in Monday morning trading in Asia as the crypto market gave up some gains made on the weekend on the back of U.S. job numbers on Friday.

HashKey Capital Singapore, an investment arm of Hong Kong-based HashKey Group, said on Friday that it received an in-principle approval for the Capital Markets Services license from the Monetary Authority of Singapore (MAS).

After dabbling in cryptocurrency product offerings, Goldman Sachs is now offering a service to clients to help analyze tokens and market trends.

The South Korean founder of the collapsed Terra stablecoin faces multiple allegations of wrongdoing, the latest being price manipulation.

Bitcoin and Ether rose in Friday morning trading in Asia. Polygon’s Matic led gains in the top 10 tokens after Instagram said it would use Polygon to integrate NFTs into its platform.

The Monetary Authority of Singapore (MAS) wants to build the city-state into a “crypto hub” fueled by instant settlements, tokenized assets and programmable money, not “speculating in cryptocurrencies,” Ravi Menon, the central bank’s managing director, said at the Singapore FinTech Festival on Thursday. 

The MAS launched Project Ubin+ on Thursday, a collaborative initiative with international partners to explore cross-border foreign exchange settlements using wholesale CBDC.

Digital wallet service provider Cryptillian Payment Systems has requested to file an amicus brief to support Ripple Labs Inc. in the latter’s ongoing court battle against the U.S. Securities Exchange Commission (SEC).

‘Bad actor’ or a ‘sliding market’? Blockchain industry leaders at Hong Kong FinTech Week offer insights into the Terra-LUNA crash.

The world’s largest crypto exchange seeks to become a bridge between traditional finance and cryptocurrencies.

Markets: Bitcoin and Ether fall with crypto top 10 as Fed raises rates 75 bps

Indian Finance Minister Nirmala Sitharaman has urged all Group of 20 (G20) nations, as well as international bodies like the International Monetary Fund and Financial Stability Board, to come together to help regulate crypto assets. See related article: India’s finance minister sees 46% growth in blockchain technology use in next few years Fast facts Sitharaman […]

Nasdaq’s Head of Asia Pacific and Japan, Ulf Carlsson, tells us how stock exchanges could learn from crypto exchange operations.

The Bank for International Settlements (BIS) has launched a new project with the central banks of Singapore, France and Switzerland to study the possibility of integrating some decentralized finance (DeFi) features with central bank digital currencies (CBDCs). See related article: mBridge participants to end domestic payments of foreign CBDCs Fast facts The BIS announced on […]

Singapore-based StraitsX, a payments infrastructure for digital assets, will pilot stablecoin applications at the ongoing Singapore Fintech Festival. 

Bitcoin and Ether dropped in Wednesday afternoon trading in Asia amid losses among all top 10 cryptocurrencies by market capitalization, excluding stablecoins, led by Shiba Inu.

NEAR Foundation is establishing a Web3 hub in South Korea to expand its allegiance with blockchain projects in Korea and Asia.