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Cryptocurrencies

1530 articles

September 2022

Alex Mashinsky steps down as Celsius CEO

Alex Mashinsky, the chief executive officer of cryptocurrency lender Celsius Network LLC which has filed for bankruptcy, has resigned from his position, according to a statement released by the company on Tuesday. See related article: Regulator alleges Celsius resembled Ponzi scheme in new filing Fast facts The company’s chief financial officer, Chris Ferraro, has been […]

Markets: Bitcoin price back under US$20,000, Ether little changed, XRP falls, Uniswap gains

Bitcoin traded back in the US$19,000 range on Wednesday morning in Asia after breaching US$20,000 the previous day in a broader market surge. Ether was little changed, while Solana, Cardano and XRP on the list of top 10 by market capitalization lost ground. See related article: Markets: Bitcoin price rises above US$20,000, XRP rebounds, Ether […]

Markets: Bitcoin price rises above US$20,000, XRP rebounds, Ether rallies

Bitcoin rallied above US$20,000 in Tuesday afternoon trading in Asia, along with almost all the top 10 coins by market capitalization. XRP rebounded from losses in the morning. See related article: Markets: Bitcoin price back above US$19,000; Ether, Polkadot gain; XRP leads losers Fast facts Bitcoin rose 6.94% in the past 24 hours to trade […]

SEC fines Tether’s former auditor US$1 mln over accounting malpractice

The U.S. Securities and Exchange Commission announced Monday it filed and settled a US$1 million fine against Friedman LLP, Tether’s former auditing firm, over “serious violations of the federal securities laws.” See related article: What is the right approach to regulating stablecoins?  Fast facts See related article: Should Tether’s shrinking cash reserves be cause for […]

Upbit exchange to use LUNC fees to set up crypto monitoring center

Upbit, South Korea’s largest cryptocurrency exchange, is using fees it collected from Luna Classic (LUNC) transactions to establish a crypto monitoring center in a gesture to help compensate for the losses from the Terra-LUNA debacle, according to local media reports. See related article: Interpol issues red notice for Do Kwon, says South Korean prosecutor Fast […]

China busts ‘world’s dumbest thieves’ in digital yuan money laundering case

Chinese authorities can track e-CNY wallet transaction history, if warranted, thanks to its ‘managed anonymity’ design.

Polkadot eyes increasing transaction speed by 100 to 1,000 times

Polkadot updated its roadmap on Monday, expecting to deploy a technique called “asynchronous backing” on its development-testing network Kusama before the end of 2022, as a prelude to upgrading the mainnet for boosting the transaction speed. See related article: Markets: Bitcoin price back above US$19,000; Ether, Polkadot gain; XRP leads losers Fast facts See related […]

Terra Classic surges 50% as Binance offers token burning mechanism

Terra Classic (LUNC), the original crypto token of the Terra-LUNA blockchain that collapsed back in May, gained over 50% on Tuesday following an announcement by Binance, the world’s largest crypto exchange by volume, that it would support a burn mechanism for the network. See related article: For South Korea, making Do Kwon pay for his […]

South Korea’s crypto market capitalization drops 58%; user numbers rise

South Korea’s crypto market was worth 23 trillion won (about US$16.1 billion) in the first half of 2022, down 58% from 55.2 trillion won in the six-month period at the end of last year, according to data from the Financial Intelligence Unit (KoFIU). See related article: South Korea seizes US$184 mln in crypto towards unpaid […]

Is crypto in a deep funk? Think again

Beyond the bear market, Web3 technology is shining bright in gaming and music, writes Hannes Graah of Gro. Are we at a tipping point for mass adoption?

China says it busted US$5.6B crypto money laundering ring

Chinese police said they have busted a criminal group that used cryptocurrencies to launder 40 billion yuan (US$5.6 billion) as authorities crack down on illicit fund flows in the country. See related article: China lashes out at crypto fraud on World Consumer Rights Day Fast facts Police in Hengyang, a county in China’s southern province […]

Markets: XRP reverses gains, Bitcoin stuck under US$19,000, Ether trades lower

Bitcoin remained stuck below a US$19,000 ceiling in Monday afternoon trading in Asia as concern about inflation and rising interest rates prompted selling across most asset classes. XRP slipped but remained well ahead for the week. Ether and all the other top 10 coins by market capitalization lost ground, with Solana logging the largest fall. […]

RBA opens submissions for 2023 CBDC pilot

The Reserve Bank of Australia (RBA) on Monday published a whitepaper on its central bank digital currency (CBDC), or “eAUD,” pilot project that will start in January 2023 and has invited industry participants to submit use cases with economic and social benefits. See related article: World Economic Forum argues for CBDCs, Australia latest to test […]

Is the Philippines on track to becoming a blockchain hub?

The Philippines now ranks 2nd in the world for crypto adoption, but its path ahead is unclear, writes Emman Navalan. What are the hurdles it must overcome?

Interpol issues red notice for Do Kwon, says South Korean prosecutor

South Korea is pursuing different options to get custody of Do Kwon as the Terraform Labs CEO faces charges for his alleged involvement in the multibillion collapse of the Terra-LUNA stablecoin project.

Markets: Bitcoin price falls below US$19,000, ETH down, XRP continues to rise

Bitcoin traded below the US$19,000 mark in early Monday trading in Asia after fluctuating around the resistance level all week. Ethereum and most other tokens in the cryptocurrency top 10 by market capitalization lost ground. XRP once again defied broader market forces and was up on the day. See related article: Markets: XRP soars 23%, […]

Helium bound for Solana as community favors proposal

The Helium network is set to deploy on the Solana blockchain as 81% of its community voted in favor of HIP 70, an improvement proposal for operational efficiency and better user experience. See related article: Helium announces new token to scale 5G in multi-network expansion Fast facts The proposal will move Helium’s proof-of-coverage algorithm and […]

Markets: XRP soars 23%, Bitcoin holds above US$19,000, Ether gains

Bitcoin continued trading above US$19,000 in Friday afternoon trading in Asia. Ether rose along with most of the top 10 coins by market capitalization following the completion of the first phase of Cardano’s Vasil hard fork. XRP led gains with its price soaring over 20% in the past 24 hours. See related article: Markets: Cryptocurrencies […]

UK bill allows law enforcement to ‘seize, freeze, recover’ crypto assets

The United Kingdom has introduced a bill that would enable its law enforcement agencies to “seize, freeze and recover” crypto assets, to prevent cyber crime and money laundering.  See related article: UK watchdog: Crypto firms fall short on anti-money laundering rules Fast facts The reforms to the governmental Companies House, including issues beyond crypto, are […]

Cardano Vasil upgrade completes its first phase

The Cardano blockchain’s long-awaited upgrade, the Vasil hard fork, successfully completed its first phase early Friday morning, according to Cardano operator Input Output Global Hong Kong’s official Twitter page. See related article: Cardano’s Vasil hard fork upgrade confirmed for Sept. 22 Fast facts Vasil will bring improvements to the Cardano network, making it more scalable […]

Markets: Cryptocurrencies up amid Cardano’s Vasil hard fork, XRP leads gains

Bitcoin bounced back above US$19,000 in Friday morning trading in Asia as Cardano announced a successful hard fork to their upgraded Vasil network. XRP led gains among the top 10 cryptocurrencies by market capitalization. See related article: Cryptocurrency lobby group gets court approval to weigh in on SEC vs Ripple’s XRP lawsuit Fast facts Bitcoin […]

Future of CBDCs & Stablecoins

Can regulators strike a balance between innovation and regulation of stablecoins and CBDCs? We take a closer look in today’s episode of TDF.

U.S. Fed has growing interest in CBDCs, says Jeng at Crypto Council for Innovation

Linda Jeng, chief regulatory officer and general counsel at the Crypto Council for Innovation said the U.S. has seen the writing on the wall and is expanding the conversation about cryptocurrency, in comments at Forkast’s “Crypto Rising: CBDCs & Stablecoins: The Asia Perspective.”

Markets: XRP bounces back, Bitcoin stuck under US$19,000, Ether loses more ground post-Merge

Bitcoin traded below US$19,000 Thursday afternoon in Asia after dropping below that resistance level earlier, following the U.S. Federal Reserve’s decision to raise interest rates by 75 basis points. Ether also fell. XRP was the biggest gainer among the 10 largest coins by market capitalization, while most other top 10 tokens were little changed. See […]

Philippine central bank sees stablecoins as key to make payments more efficient

Bangko Sentral ng Pilipinas (BSP) Director Mhel Plabasan said the central bank has adopted a flexible approach on the digital assets.

Cryptocurrency lobby group gets court approval to weigh in on SEC vs Ripple’s XRP lawsuit

Cryptocurrency lobby group Chamber of Digital Commerce (CDC) has received approval from a U.S. federal court to be an amicus curiae (Latin for friend of court) in the lawsuit that the U.S. Securities and Exchange Commission (SEC) filed in 2020 against Ripple Labs. See related article: Ripple objects to SEC’s relief suggestion in XRP lawsuit […]

‘Act smart, but act fast’: Industry experts say there’s no time to waste addressing stablecoins, CBDCs in Asia

Panelists at Forkast’s “Crypto Rising: CBDCs & Stablecoins: The Asia Perspective,” co-hosted by the Crypto Council for Innovation (CCI), said tackling the technology requires international cooperation and flexibility to not stifle innovation.

Binance stablecoin conversion controversial, but what does it mean for users?

Binance generated controversy when it told customers it would convert their holdings in three stablecoins to its own stablecoin. Some analysts say the concerns are overblown, others disagree.

Markets: Bitcoin price falls below US$19,000, Ether slumps, XRP drops on lawsuit delay

Bitcoin fell below US$19,000 in Thursday morning trading in Asia after briefly moving above that resistance level overnight as investors digested the U.S. Federal Reserve decision to raise interest rates by 75 basis points, or in line with expectations. All the top 10 cryptocurrencies by market capitalization lost ground, with Ether the biggest loser.  See […]

Bitcoin recovers from steep drop after Fed hikes rates by 75 basis points

Bitcoin, the largest cryptocurrency by market capitalization, rose more than 3% on Thursday to recover from a sharp drop to under US$19,000 after the Federal Open Market Committee said it would raise interest rates by 75 basis points, or in line with market expectations, to rein in inflation. See related article: Digital dollar takes another […]

Why YOU should back Ethereum’s Fork

The SEC’s plans for POS regulation could make Ethereum’s POW fork more attractive. Chinese miner Chandler Guo joins us to talk about it.

Terra chief faces arrest as South Korea ramps up global manhunt

Top blockchain and crypto news: Where is Do Kwon hiding out? Ethereum Merge mood fading fast. China’s digital yuan draws scrutiny Down Under.

Markets: XRP only gainer among top 10 cryptos as US rates decision looms

Bitcoin remained below the US$19,000 level in Wednesday evening trading in Asia as the top 10 cryptocurrencies by market capitalization, with the exception of XRP, traded lower. See related article: Ripple objects to SEC’s relief suggestion in XRP lawsuit Fast facts Bitcoin fell 2.2% in the past 24 hours to trade at US$18,906 at 4:30 […]

India’s finance minister sees 46% growth in blockchain technology use in next few years

While India’s central bank has adopted a hostile stance towards cryptocurrency, the South Asian nation has recognized the potential for blockchain technology.  See related article: Women in India start to plug into cryptocurrency trading Fast facts Use of blockchain technology is going to rise by about 46% in the next few years, India’s finance minister […]

Ripple objects to SEC’s relief suggestion in XRP lawsuit

Ripple Labs Inc. has objected to the U.S. Securities and Exchange Commission’s suggestion that it may seek additional time and pages if other amici curiae (Latin for friends of the court) submit briefs, as the lawsuit the SEC filed in 2020 against Ripple drags on. See related article: SEC, Ripple seek summary judgment in attempt […]

China to expand digital yuan trials within its most populous provinces

The entirety of the provinces of Guangdong, Jiangsu, Hebei and Sichuan will be piloting the e-CNY by end 2022, says central bank official.

JPMorgan Chase executive says crypto usage for payments decreasing

Speaking in an interview with Bloomberg Television on Tuesday, JPMorgan Chase & Co.’s global head of payments Takis Georgakopoulos said that demand for cryptocurrencies as a payment method has seen a drastic decline in the past six months.  See related article: JPMorgan, LRC bet on blockchain startup Ownera in US$20 mln Series A Fast facts […]

Markets: Bitcoin price falls below US$19,000, XRP gains on SEC lawsuit developments, Ether post-Merge slide continues

Bitcoin fell below the US$19,000 resistance level for the second time in a week in early Wednesday trading in Asia. Ether and most other tokens in the cryptocurrency top 10 by market capitalization lost ground. XRP was the exception, gaining on news the token’s issuer, Ripple Labs Inc, and the U.S. Securities and Exchange Commission […]

Binance’s crypto keys; What’s after the Merge?

Binance takes the headlines today as they lead the funding of blockchain security specialists Salus Security.

Alameda Research to repay US$200 mln crypto loan to Voyager Digital

Sam Bankman-Fried’s trading firm Alameda Research will repay around US$200 million in cryptocurrencies to bankrupt digital assets broker Voyager Digital by Sept. 30. See related article: Voyager Digital issues notice of default to 3AC Fast facts Alameda owes Voyager about 6,553 Bitcoins, more than 51,000 Ether and smaller amounts in various tokens including USDC, DOGE […]

India’s CoinDCX Twitter handle hacked to peddle XRP

CoinDCX, India’s first crypto unicorn, asked users not to click on any link or messages from its official Twitter handle as the company lost control of the social media account following a hack. See related article: How Twitter hackers social-engineered their way into VIP accounts to shill for bitcoin Fast facts “We are in the […]

Hong Kong needs at least two years to build wholesale CBDC: HKMA

The Hong Kong Monetary Authority (HKMA), the city’s de-facto central bank, Tuesday said it concluded its market consultations on technical and policy grounds towards the city’s central bank digital currency (CBDC), estimating at least two to three years to build the wholesale system.  See related article: Hong Kong flirts with e-HKD as it talks of […]

Markets: Dogecoin reenters top 10 tokens by market cap, Bitcoin and Ethereum up

Crypto markets continued their recovery streak in Tuesday evening trade in Asia with Bitcoin rising over 4% in the past 24 hours to be the second-highest gainer among the top 10 tokens by market capitalization, only behind XRP. Despite a 4.3% recovery, Ethereum was still down over 20% over the past seven days in the […]

South Korea unlikely to push out crypto regulation before the U.S., authority says

South Korea’s top financial watchdog Monday said it is difficult for the country to establish laws overseeing the cryptocurrency industry in the country ahead of a common global regulatory framework as cross-border enforcement would be a key determinant of effectiveness.

Australia Senator says China’s CBDC may threaten national security

Amid the worsening relationship with China, one Australian Senator is trying to address possible national security concerns that may arise from Beijing’s Central Bank Digital Currency project.

Crypto research firm founder accused of promoting ICO for compensation

Self-described crypto influencer charged with violating SEC regulations by trading and promoting an initial coin offering under undisclosed financial terms.

India’s WazirX to delist USDC, apply auto convert to Binance’s stablecoin

WazirX, India’s largest cryptocurrency exchange by trade volume, said it has stopped deposits of stablecoins USDC, USDP and TUSD, and will automatically convert users’ existing balances to Binance’s USD-backed stablecoin BUSD at a 1:1 ratio.  See related article: India’s WazirX introduces new ‘learn and earn’ campaign with The Sandbox Fast facts WazirX will begin the […]

If the UK wants to become a crypto hub, it must do better

Britain’s internal divisions could thwart its crypt ambitions, writes Nick Saponaro of Divi Labs. Will it be eclipsed by crypto-friendly Dubai?

Markets: Bitcoin back above US$19,000 while Ether posts strongest gains since post-Merge

Bitcoin rose above US$19,000 in early Tuesday morning trading in Asia after falling below that resistance level overnight for the first time in almost two weeks. Ethereum showed signs of shaking off the post-Merge slump as it gained along with the rest of the top 10 cryptocurrencies by market capitalization. See related article: Ethereum’s PoW […]

Do Kwon says “not on the run” as S.Korea calls for Interpol’s red notice

South Korean prosecutors are in the process of requesting Interpol to issue a red notice for Terraform Labs Pte. Ltd. Chief Executive Officer Kwon Do-hyung, also known as Do Kwon, according to media reports.  See related article: Terra CEO Do Kwon faces ‘illegal alien’ status in Singapore as Seoul cancels passport Fast facts An Interpol […]

SEC, Ripple seek summary judgment in attempt to speed up XRP lawsuit

The argument centers around if Ripple’s XRP sales were offerings of unregistered securities.

Ethereum’s PoW forks competing for market share see significant selloff

These PoW forks were created to keep revenue flowing for Ethereum’s miners, but plummeting prices put that plan at risk.

India’s WazirX introduces new ‘learn and earn’ campaign with The Sandbox

WazirX, India’s largest cryptocurrency exchange by trade volume, has introduced a “learn and earn” campaign with The Sandbox, one of the biggest Ethereum-based metaverse game platforms.  See related article: WazirX launches India’s first NFT marketplace Fast facts The campaign started Sept. 19, and the top five winners will get free passes for The Sandbox’s recently […]

The world is still far from mass crypto adoption, says Vujinovic of OGroup

Maja Vujinovic, founder and CEO of OGroup, a financial services company with a focus on artificial intelligence and blockchain, spoke to Forkast about the future of digital assets at StartmeupHK Festival 2022.

Cross-chain DOT staking dApp wins Polkadot’s North America hackathon

A decentralized application (dApp) “XCM DOT Autostake” developed by a team called Entity 54 won the grand prize at Polkadot’s North American hackathon, Polkadot announced on Sunday. See related article: Polkadot Defi hub Acala burns some 1.3 bln mis-minted stablecoins Fast facts See related article: Polkadot to hold first hackathon centered in Latin America 

Markets: Bitcoin back below US$20,000 while Ether leads losses in crypto top 10

Bitcoin fell back below US$20,000 in early Monday morning trading in Asia after breaching that support line overnight, while Ethereum led the losses in the crypto top 10 by market capitalization, which were all trading lower. See related article: Markets: Bitcoin dips below US$20,000; Ether, ETC fall post-Merge Fast facts Bitcoin fell by 3.4% in […]

Will Ethereum ever surpass Bitcoin? This is “The Flippening”

Many believe Ethereum is destined to overtake Bitcoin’s dominance in an event known as “The Flippening.” Find out if Ethereum’s reign is inevitable in this Forkast explainer.

Digital dollar takes another step in White House’s “first ever” digital assets framework

The Fed will continue its CBDC research as Republicans pressure the central bank to clarify its stance on digital dollar issuance.

For South Korea, making Do Kwon pay for his alleged crimes easier said than done

A member of the prosecuting team tells Forkast additional charges are likely to be leveled against Terraform Labs Chief Executive Officer Do Kwon following this week’s issuance of an arrest warrant for violating the country’s Capital Markets Act.

Markets: Bitcoin price holds under US$20,000; Ether falls nearly 10%

Bitcoin continued trading below the US$20,000 support line in Friday afternoon trading in Asia. Ether fell in a “sell the news” mood after the Ethereum network completed the network Merge on Thursday. Most other coins among the top 10 by market capitalization dropped. See related article: Markets: Bitcoin dips below US$20,000; Ether, ETC fall post-Merge […]

Terra CEO Do Kwon faces ‘illegal alien’ status in Singapore as Seoul cancels passport

Prosecutors investigating the man behind the US$37 billion wipeout of the Terra-LUNA cryptocurrency project are raising the stakes to get him back to South Korea.

Why the crypto space needs more women — as employees and at the top

The crypto labor force skews heavily male, which could impede the industry’s future growth, writes Lottie Wells of Wirex. Here are some ways to increase women’s participation.

SEC’s Gensler says proof-of-stake cryptocurrencies may be securities

When is a cryptocurrency a security and when is it not? Financial regulators around the world are raising that question. The answer that comes out of the U.S. may set the tone, but South Korea is also ahead in tackling it.

Celsius seeks court approval to monetize stablecoin assets

Amid its bankruptcy proceedings, crypto lender Celsius Network LLC has sought court approval to sell and/or exchange its stablecoin holdings for U.S. dollars in order to generate liquidity and help fund its operations.  See related article: Goldman Sachs said to raise US$2B for Celsius assets: report Fast facts “Celsius currently owns eleven different forms of […]

As “The Merge” succeeds, rival ETHPoW fork falters

ETHPoW, the Ethereum hard fork blockchain intended to preserve proof-of-work after the native chain transitioned to proof-of-stake, is facing technical difficulties despite months of anticipation.  See related article: Ethereum says Merge upgrade successfully completed, more to come Fast facts Prior to the fork, it was announced that ETHW tokens would be airdropped to Ethereum holders. […]

F2Pool, Poolin, Antpool launch ETHW mining pools

Mining pools F2Pool, Poolin and Antpool have launched their ETHW (EthereumPoW) mining pools, according to their respective websites, while a few other large mining pools have also said they would support the mining of the fork token. See related article: Ethereum says Merge upgrade successfully completed, more to come Fast facts F2Pool said on Thursday […]

S.Korea finance regulator: crypto can be subject to capital markets law

South Korea’s Financial Supervisory Service (FSS) governor Lee Bok-hyun says he disagrees with the view that crypto cannot be seen as financial investment products or securities, while revealing he assisted local prosecutors in designating Terra-LUNA tokens as securities, according to local media reports. See related article: Securities or not? South Korea to evaluate Terra’s LUNA […]

Markets: Bitcoin dips below US$20,000; Ether, ETC fall post-Merge

Bitcoin fell below the US$20,000 support line in Friday morning trading in Asia, while Ether saw a sell-off following the long-awaited network “Merge” on Thursday. The total cryptocurrency market capitalization fell below US$1 trillion as all top 10 tokens were trading down. See related article: Ethereum says Merge upgrade successfully completed, more to come Fast […]

Singapore Deputy Prime sees “tremendous potential” in tokenization and DLT

The Monetary Authority of Singapore (MAS) is preparing for the future of finance by exploring distributed ledger technology use cases, such as asset tokenization and cross-border payments, the city-state’s Deputy Prime Minister Lawrence Wong said on Thursday at an event organized by the central bank.  See related article:  Filecoin service provider RRMine leaves China for […]

Singapore grants capital markets license to SBI’s digital asset arm

SBI Digital Markets Pte. Ltd. (SBI DM) has received a Capital Markets Services (CMS) license from Singapore’s central bank, which allows it to provide custodial services and offer capital markets products. See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts SBI DM plans to launch a digital asset […]

Merge finally arrives; India’s female traders

Welcome to The Daily Forkast – September 15, 2022 – presented by Megha Chaddah. Coming up on today’s show: Ethereum’s Merge is complete. Indian women start to plug into cryptocurrency trading. And finally, can the crypto world shrug off carbon footprint concerns? We’ll have more on those stories — and other news shaping the cryptocurrency […]

CEL price rallies to US$4.26 during Ethereum’s Merge

The bankrupt crypto lender Celsius Network’s native CEL token suddenly spiked to US$4.26, during Ethereum’s much-anticipated Merge, according to data from CoinGecko. See related article: Celsius CEO Alex Mashinsky floats restructuring as custody business amid bankruptcy proceedings Fast facts CEL’s price has since dropped to US$1.94, making it the 61st largest cryptocurrency by market capitalization, […]