Cryptocurrencies

Solana fell 4% in Asia afternoon trading on Wednesday as reports surfaced of a hack that had drained thousands of wallets holding the token. Bitcoin and Ethereum edged higher, though U.S.-China tensions were a broader concern across all markets. Bitcoin traded at US$23,187 as of 4:30 p.m. in Hong Kong, up 1.47% in the prior […]

Approximately 7,767 wallets have been affected in the Solana exploit as of 1 p.m. Hong Kong time. Solana-based wallets Slope and Phantom are on the list, Solana said. See related article: Cardano users said to be indirectly affected by Nomad’s US$200 mln exploit Fast facts See related article: Waves community approves repayment plan for lending […]

An Indian firm providing crypto tax calculation services is introducing a software as a service (SAAS)-based solution to tackle India’s myriad crypto taxation regime. See related article: India’s latest tax assault on crypto exchanges starts Friday Fast facts SAAS-based TaxCryp software aims to simplify tax computation, compliance and reporting requirements, India-based TaxCryp Technologies said on […]

Gucci has further embraced cryptocurrencies, announcing in a tweet on Tuesday that it is accepting in-store purchases with ApeCoin through payment service provider BitPay. See related article: How high fashion is waking up to blockchain’s possibilities Fast facts ApeCoin is a cryptocurrency tied to Bored Ape Yacht Club (BAYC), a non-fungible token (NFT) project created […]

Bitcoin is the worst option for increasing the efficiency of cross-border payments while stablecoins occupy an intermediary position, the European Central Bank (ECB) said in a study published Monday.  See related article: Cryptocurrency is worthless: ECB Christine Lagarde Fast facts Central bank digital currencies (CBDCs) and domestic instant payment systems have the highest potential for […]

Monday’s attack on Nomad indirectly affected Cardano users as the protocol was one of multiple bridges deployed to Milkomeda C1, a layer 2 protocol which allows Ethereum decentralized apps (dApps) to be deployed in the Cardano ecosystem, Milkomeda said. See related article: More than 300 addresses said to perpetrate Nomad’s US$200 mln exploit Fast facts […]

Layer 1 blockchain Waves, which has been mired in a liquidity crisis, will go ahead with a revival plan recently approved by the community behind its decentralized finance (DeFi) lending protocol Vires.Finance, to allow certain account holders to withdraw funds or keep their positions for later repayment. See related article: Waves’ Neutrino USD loses peg […]

MicroStrategy CEO Michael Saylor is stepping down to become executive chairman “to focus more on our Bitcoin acquisition strategy and related Bitcoin advocacy initiatives,” according to a company statement released Tuesday. See related article: Vitalik Buterin calls MicroStrategy’s Michael Saylor a ‘total clown’ Fast facts According to the statement, this will allow the company to […]

Bitcoin was trending lower in early Asia trading on Wednesday with most major cryptocurrencies falling. Bitcoin was priced at US$23,048 as of 8 a.m. in Hong Kong, down 1.2% in the prior 24 hours. Ethereum was little changed at US$1,643, up 0.3%, according to data from CoinMarketCap. See related article: Bitcoin, Ethereum lose ground; Polkadot […]

Is the flippening coming soon? And NFT sales drop 25% in July as the crypto winter continues.

Stefan Chu, who used to head over-the-counter (OTC) trading at TPS Capital, has left the organization as the company seeks to distance itself from the bankrupt hedge fund Three Arrows Capital (3AC), according to a report by The Block.  See related article: MAS takes aim at Three Arrows Capital, does not impose penalty Fast facts […]

The People’s Bank of China (PBoC) has listed the “orderly expansion of the scope of the digital yuan pilot” as one of its key tasks in the second half of the year, according to a Tuesday press release from the Chinese central bank’s second-half-year work plan. See related article: Covid-19, postponed Asian Games to push […]

The cryptocurrency market is trading down in general, with Bitcoin and Ethereum down 2.2% and 6.1% over the past 24 hours in Tuesday evening trade in Hong Kong. See related article: ETH crosses Bitcoin in options market for first time in history Fast facts Bitcoin was trading at US$22,843.99, while Ethereum was changing hands at […]

Bank of America (BofA) has said Ethereum needs improvements in scalability in order to retain its market share from newer blockchains such as Binance Smart Chain, Tron, Avalanche and Solana, according to a CoinDesk report.  See related article: Ethereum will soon turn 7 — and its upcoming ‘Merge’ will be well worth the wait Fast […]

Ahead of Ethereum’s upcoming “Merge,” prominent Chinese crypto miner Chandler Guo has indicated he wishes to fork Ethereum to maintain a version of the network that remains proof of work (PoW), according to a report by Decrypt. See related article: Ethereum will soon turn 7 — and its upcoming ‘Merge’ will be well worth the […]

Binance and Paxos Trust Company, which issues the dollar-pegged stablecoin BUSD (Binance USD), released the first unaudited breakdown of the reserves backing the token on Aug. 1. See related article: Binance spent over US$1B on compliance, founder Changpeng Zhao says Fast facts According to the reserve report, BUSD was backed by US$738 million in cash, […]

Blockchain payments company Ripple released 1 billion of XRP from three escrow accounts on August 1, pushing the price of its native token down by 3.4% in the past 24 hours, according to CoinGecko data. See related article: SEC fails to block XRP holders from aiding in Ripple case Fast facts In December 2017, Ripple […]

Ethereum blockchain’s native token Ether (ETH) has surpassed Bitcoin (BTC) in the options market for the first time on Deribit exchange. See related article: Tether will support ETH 2.0 amid speculations of Merge delay Fast facts The cumulative dollar value of Ether options contract opens on Deribit was around US$5.7 billion, while open Bitcoin options […]

A stolen painting may be lost forever, but a fraudulent Bitcoin transaction — with these legal strategies and tracing tools — can lead right to the criminal.

Major cryptocurrencies were lower in early Tuesday trading in Asia, with Ethereum losing 3% in the past 24 hours to trade at US$1,634 as of 8 a.m. in Hong Kong. Bitcoin dipped 0.2% to trade at US$23,267, according to data on CoinMarketCap. See related article: Bitcoin, Ethereum fall back after posting monthly gains for July […]

Chiliz (CHZ) cryptocurrency jumped as much as 25% on Monday evening in Asia after announcing a US$100 million investment in FC Barcelona’s Barça Studios for a 24.5% stake in the soccer club’s digital content and distribution hub. See related article: South Korea’s Ifland metaverse dives into play-to-earn Fast facts Under the partnership, Socios.com and Chiliz […]

Digital Treasures Center (DTC) became the latest firm to receive the Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) to become a regulated Digital Payment Token (DPT) services provider, the company announced on Monday.  See related article: Singapore’s central bank says cryptocurrencies have ‘no fundamental value’ Fast facts A full license […]

The ETH2 merge could once again be delayed. Meanwhile, Vitalik Buterin calls Michael Saylor “a total clown”.

Bitcoin and Ethereum were trading lower by 1.3% and 0.4% over the past 24 hours in Monday evening trade in Hong Kong. See related article: Bitcoin, Ethereum fall back after posting monthly gains for July Fast facts Bitcoin was trading down 1.3% at US$23,331.73 over the past 24 hours at 5:20 p.m. HKT on Monday, […]

The new product will help over 20 million KuCoin users to access blue chip non-fungible tokens (NFTs) through direct purchases with USDT, instead of ETH, the cryptocurrency exchange said.  See related article: KuCoin dismisses rumors, eyes India for growth: report Fast facts KuCoin is partnering with Fracton Protocol and will initially list five NFT exchange-traded […]

Crypto exchange CoinFLEX has let go a “significant number” of employees to cut costs and focus on its core business, according to a blog post published by the platform’s cofounders Sudhu Arumugam and Mark Lamb. See related article: ‘We’re in a crypto super cycle,’ says CoinFLEX CEO Fast facts The staff cuts and non-staff costs […]

The U.S. Federal Deposit Insurance Corporation (FDIC) clarified in a statement on Friday that it only protects insured bank customers in case a bank fails, and not assets issued by crypto companies.  See related article: Crypto lender Voyager ordered to stop misleading claims over deposit insurance Fast facts The FDIC’s comments come a day after […]

Bitfinex and Tether’s chief technology officer Paolo Ardoino said on Sunday that Tether plans to support ETH 2.0, amid widespread speculations that the Merge may get delayed yet again.  See related article: Ethereum one step closer to Eth2 with Ropsten testnet merger Fast facts While the Merge has been delayed multiple times, developers said it […]

Bitcoin ended July trading at US$23,737 for a monthly gain of nearly 24% — its highest since October last year when it rose 40%. Ethereum gained about 60% in July. See related article: Bitcoin, Ether rally continues in Friday afternoon trading in Asia Fast facts Bitcoin fell about 1% on Monday morning in Asia, with […]

The cryptocurrency market continued its rally in afternoon trading in Asia on Friday, with Bitcoin and Ethereum up 4.4% and 5.7%, respectively, over the past 24 hours. See related article: Crypto continues tear while Vitalik Buterin says Eth2 ‘not priced in’ Fast facts Bitcoin was at one point changing hands above the US$24,000 mark in […]

The Law Commission of England and Wales recommended classifying cryptocurrencies and non-fungible tokens (NFTs) as a new type of property in a consultation paper published on Thursday. See related article: Basel Committee starts public consultation on banks’ crypto asset exposures Fast facts The Law Commission, an independent statutory body responsible for reviewing and reforming laws, […]

The APE decentralized autonomous organization (DAO) approved a proposal to fund the 24-hour news website covering BAYC creator Yuga Labs and the community on Thursday.  See related article: Majority of ApeCoin token holders vote to stay on Ethereum Fast facts The Bored Ape Gazette website will become a 24-hour style news site complete with a […]

Solana-based decentralized finance protocol Nirvana Finance was exploited in a flash loan attack for US$3.49 million on July 28, the firm announced in a Twitter post, causing its tokens to topple by more than 80%. See related article: C.R.E.A.M. Finance suffers $28M flash loan hack Fast facts Using flash loans on lending protocol Solend, the […]

Digital assets company Komainu has received a provisional license from the Dubai Virtual Assets Regulatory Authority (VARA) to offer cryptocurrency products and services to institutional clients in Dubai, CoinDesk said in a report.  See related article: Dubai could be crypto’s promised land, Citi says Fast facts Komainu is the latest to receive approval from Dubai […]

Terraform Labs and affiliates allegedly ramped up the numbers of its decentralized finance (DeFi) service Anchor Protocol by investing their own capital, a claim that South Korean prosecutors are currently looking into, state broadcaster KBS reported. See related article: S.Korea slaps ‘notification upon arrival’ on Terra’s Do Kwon Fast facts The local media outlet claims […]

The crypto market continued its tear overnight Thursday in Asia with Bitcoin and Ethereum trading up 4% and 6%, respectively, in the 24 hours before business hours on Friday. See related article: Crypto, traditional markets see bump as Fed raises rates Fast facts Bitcoin was changing hands at its highest point in over a week […]

Bitcoin and Ethereum see significant gains in spite of Fed rate hike. Meanwhile, Dubai Police announces NFT launch.

Immutable has let go of about 6% of its workforce, including lead designer James Wakeham who was involved in the development of the game developer’s popular non-fungible token (NFT) game Gods Unchained.  See related article: Play-to-earn game developers pivot to engaging fans Fast facts A spokesperson from Immutable’s U.S. branch told gaming media outlet Kotaku […]

Ethereum has been on a tear, gaining 14% in the past 24 hours. The world’s second-biggest cryptocurrency by market capitalization is now up ​​more than 47% in the past 14 days ahead of the Merge. See related article: Vitalik Buterin says Ethereum to be 55% complete post-merge Fast facts Ethereum is up 13.9% over the […]

Crypto lender Vauld, which halted withdrawals earlier this month, is facing hostile action from multiple creditors, according to a new affidavit reviewed by Moneycontrol.  See related article: Nexo in talks to buy out Vauld Fast facts As per the affidavit, Vauld has received two demand letters and two civil claims from four creditors.  One of […]

Dubai police are dropping a second round of non-fungible tokens (NFTs), as digital assets conform to their interests in innovation, security and communication. In a statement on their website, Dubai police claim to be the first government entity in the United Arab Emirates (UAE) to create its own digital assets and the first police organization […]

Tether, the issuer of USDT, the world’s most traded stablecoin, said it doesn’t hold Chinese commercial paper in its reserves and it plans to reduce its commercial paper holdings overall. See related article: Tether slashes commercial paper, shows more reserves than liabilities Fast facts In a statement published on Wednesday, Tether said it “holds no […]

Both crypto and traditional markets saw significant gains overnight Monday in Asia after the U.S. Federal Reserve announced a 75-basis point interest rate increase to battle the worst inflation in the country in some 40 years. See related article: Fed may increase interest rates amid rising inflation Fast facts Interest rates in the U.S. are […]

The crypto market shrugs off IMF’s predicted recession risk. Also, U.S lawmakers racing to introduce the stablecoin bill.

Top blockchain and crypto news: SBF’s Voyager rescue deal spurned. Tesla pulls U-turn with BTC sale. Tencent cuts local NFT staff as it looks abroad.

Aiming to uncover the next “BTS in finance,” Chairman Kim Joo-hyun of the Korean Financial Services Commission (FSC) is calling for “bold reforms” in financial regulations, including in crypto assets.

Lawmakers in the U.S. House of Representatives are pushing to introduce a stablecoin bill draft this week before the House breaks for August recess, according to four unnamed sources “familiar with the plan” cited by The Block.  See related article: Hold onto your crypto bags, the regulators are coming Fast facts The proposal on stablecoin […]

Venture capitalists (VCs) poured at least US$17.5 billion into the crypto and blockchain industry in the first half of this year, Reuters reported, citing PitchBook data.  See related article: Blockchain, crypto investment soars in H1 2021 Fast facts VC investments in blockchain and crypto startups topped US$26.9 billion in 2021. North American startups were at […]

Bitcoin quickly rebounded above US$21,000 coming into Asian trading hours on Wednesday after falling below the mark overnight since the International Monetary Fund (IMF) cut its global growth outlook for this year and next, warning that the world economy may soon be on the cusp of an outright recession. See related article: IMF says crypto crash […]

Investment banking firm Jefferies downgraded the MicroStrategy stocks from “hold” to “underperform.” See related article: Michael Saylor’s MicroStrategy buys more Bitcoin Fast facts MicroStrategy, the largest corporate holder of Bitcoin, has a premium valuation for a low-growth asset, Jefferies said in a research report released on Tuesday. Jefferies kept the MicroStrategy price target unchanged at […]

South Korean prosecutors investigating Terra-LUNA have requested the Ministry of Justice to place a “notification upon arrival” on Terraform Labs chief executive officer Do Kwon and a travel ban on Terra cofounder Shin Hyun-seung, according to local media reports. See related article: South Korean prosecutors said to have raided Terra cofounder Shin’s residence Fast facts […]

Average daily volumes (ADV) at Bullish cryptocurrency exchange in the second quarter of the year rose by about 212% to US$522 million, up from US$167 million in the first quarter, according to a business update released on July 26. The exchange is operated by Bullish (GI) Limited and regulated by the Gibraltar Financial Services Commission.  […]

Male-dominated workplaces, lack of proper educational resources, challenge women and act as barriers for them to engage in Web3.0, according to a survey by KuCoin.  See related article: NEAR Foundation, Forkast partner to showcase talented, socially mindful women in Web3 Fast facts Despite challenges, 60% of female professionals recognize their unique value in facilitating better […]

FOMO Pay will partner with Ripple, the San Francisco-based blockchain payments company, to utilize its XRP-based tool that enables instant low cost settlement without the need to hold pre-funded capital in a destination market, the Singapore based company said. See related article: CrossTower in pact with Ripple to offer NFTs on XRP Ledger Fast facts […]

The price of BNB Chain-based Teddy Doge (TEDDY) fell over 99.9% in 24 hours on Monday in Asia as over US$4.5 million of the token was sold over the weekend, in what some analysts described as a “soft rug pull.” The token was trading at just a fraction of a dollar on Tuesday in Asia. […]

Bitcoin and Ether were trading lower in anticipation of an upcoming U.S. Fed meeting that is widely expected to raise interest rates by 75 basis points. See related article: Crypto market pain will continue but still bullish on Bitcoin lending: Silvergate Fast facts Bitcoin was trading at US$21,130 at 12:30 p.m. on Tuesday HKT, down […]

Founded by former employees of Meta stablecoin arm Diem, blockchain company Aptos Labs announced a US$150 million Series A funding round led by FTX Ventures and Jump Crypto on Monday, according to a press release. See related article: Crypto startup funding falls by 26% in H1 2022: report Fast facts Venture capital and crypto firms […]

Cryptocurrency exchange KuCoin has “no exposure to LUNA & wLUNA,” and its recent fundraising “has nothing to do with the market downtrend,” the firm’s CEO said on his verified Twitter handle.  See related article: How cold storage can ward against this crypto winter’s freeze Fast facts KuCoin CEO Johnny Lyu was responding to rumors about […]

The crypto world is consumed by a spiritual battle between its believers and haters, and it is in need of a rebirth and new identity, writes Prof. Yanto Chandra of Hong Kong Polytechnic University.

Tesla’s announcement to convert bulk of its Bitcoin holdings to fiat currency has opened a Pandora’s box for accountants, a Bloomberg report said.  See related article: Bitcoin falls as Tesla announces it sold 75% of BTC holdings Fast facts Based on Tesla’s letter to shareholders, the sale of Bitcoin added US$936 million in cash to […]

The adoption of cryptocurrencies is still low compared to traditional investment classes such as equities, payment technologies and private equity allocation by institutions, a joint report by Boston Consulting Group (BCG), Bitget and Foresight Ventures said.  See related article: Led by Vietnam and India, global crypto adoption jumps over 880% Fast facts The report estimates […]

Despite some recent progress, the Web 3.0 industry is still coming up short on women’s participation, says NEAR Foundation chief Marieke Flament

South Korean prosecutors’ search and seizure campaign on Terra-LUNA and affiliates includes raiding the private home of Terraform Labs cofounder Daniel Shin, or Shin Hyun-seung, among others on Wednesday, local media reported. See related article: S.Korea prosecutors raid crypto exchanges as part of Terra-LUNA investigation Fast facts Shin, who founded Terraform Labs with current chief […]

New Bangko Sentral ng Pilipinas Governor Felipe Medalla is no fan of crypto, but in an exclusive interview with Forkast, he said there’s no plan to outlaw the digital asset.

KuCoin raised US$10 million from quantitative trading firm Susquehanna International Group (SIG), the crypto exchange said on Friday. See related article: How the crypto winter is laying groundwork for Web3 to reach its potential Fast facts KuCoin plans to use the funds to upgrade the platform’s infrastructure and improve product line-up, the company said.  KuCoin […]

Ethereum co-founder Vitalik Buterin said on Thursday that Ethereum will be about 55% complete after the “merge,” when the network moves from proof-of-work (PoW) to a proof-of-stake (PoS) consensus system.  See related article: Eth2 merger closer as ninth shadow fork goes live Fast facts “Proof of stake is much more secure than proof of work, […]

The Securities and Exchange Commission of Thailand (Thai SEC), has sought clarification from cryptocurrency exchange Zipmex on its decision to freeze withdrawals, according to a statement on its website.  See related article: Celsius bankruptcy deepens chill over crypto sector Fast facts The regulatory authority for Thailand’s capital markets, in a letter dated July 20 issued […]

Taiwan’s financial regulator is asking banks and credit card companies not to allow credit cards as a means of payment for virtual assets services, local media reported Thursday. See related article: Taiwan has a chance to develop crypto amid China’s clampdown, Filecoin Foundation director says Fast facts Taiwan’s Financial Supervisory Commission Friday told Forkast that […]

Indonesia’s central bank is working on releasing the conceptual design of its own digital currency for banks to use by the end of this year, Bank Indonesia Governor Perry Warjiyo said on Thursday. See related article: Governments pushing for CBDCs smell blood in Terra Classic’s struggles Fast facts Bank Indonesia’s digital rupiah will be the […]

Bitcoin mining difficulty dropped by 5.01% on Friday, marking the third decline in a row and the largest fall since July 2021, according to data from BTC.com. See related article: Celsius Network could add to crypto mining struggles Fast facts The mining difficulty reading is now at 27.69 trillion at a block height of 745,920, […]

Bitcoin drops after Tesla sells 75% of its bitcoin holdings. Meanwhile, South Korean authorities raid 15 companies as part of their Terra Luna investigations.

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