October 2023
Philippines’ Coins.ph may have lost US$6 million worth of XRP in hack: The Block
Coins.ph, a cryptocurrency exchange based in the Philippines with millions of users, appeared to have lost 12.2 million XRP tokens, The Block reported on Friday.
Is TradFi’s entry into DeFi a turning point or a sign of greater battles ahead?
The pillars of Wall Street are muscling their way into crypto and decentralized finance. Who stands to benefit the most?
Bitcoin briefly rallies above US$30,000 following Grayscale’s new ETF application
Bitcoin gained over 10% this past week, boosted by Grayscale’s renewed spot Bitcoin ETF application.
Dubai’s crypto boom, Australia’s rules & Binance’s battles
Web3 leaders gather in the Future Blockchain Summit in Dubai and we take a deep dive on the woes of crypto’s largest exchange, Binance.
LBRY shuts down operations
LBRY issued a final goodbye to the crypto community before winding down operations.
SEC drops all charges against Ripple’s CEO Garlinghouse and co-founder Larsen
The XRP token rose over 6% on the day after the SEC dismissed the charges against Ripple’s top executives.
Grayscale files for new spot Bitcoin ETF on NYSE Arca
Grayscale said that its fund is ready to operate as an ETF upon regulatory approval.
Binance’s rollercoaster week: expansion, setbacks, and the ghost of FTX’s collapse
Top blockchain and crypto news: Is Japan a new frontier for Binance? AI art sweeps NFT sales. ETF buzz electrifies Bitcoin.
Lightning Labs to enable stablecoins on Bitcoin ecosystem with Taproot Assets
Taproot Assets will “accelerate the process of bringing Bitcoin to those billions of people,” according to Lightning Labs.
ECB to kick off digital euro preparation phase on Nov. 1
The central bank said that the preparation phase is not a decision on the issuance of a digital euro.
OFAC sanctions Gaza-based crypto exchange allegedly linked to Hamas
The U.S. takes action against 10 Hamas-linked entities, including Gaza-based money transfer business and crypto exchange Buy Cash.
UK emerges as world’s third-largest economy in terms of crypto transaction volume: Chainalysis
The U.K. is also listed as the 14th economy on Chainalysis’ Global Crypto Adoption Index.
Over 40% of Hong Kong investors shun digital assets post-JPEX Scandal, survey reveals
The survey aimed to measure the public attitude towards virtual asset investments, following the JPEX incident.
Trust Wallet’s TWT up 7%, leads top 100 cryptos in gains
TWT price rose over 15% during the past week, after Trust Wallet announced a major rebranding upgrade.
SUI Foundations denies supply manipulation allegations
SUI fell to a new all-time low on Wednesday following supply manipulation allegations, which the Sui Foundation denies.
Rampant scams highlight critical need for greater crypto literacy
The plight of the Philippines — which has a high rate of crypto adoption but is also plagued by fraud — offers a window into why the industry’s ‘do your own research’ mantra isn’t enough.
Binance freezes over 100 accounts on Israeli police request: Financial Times
Israeli police requested information on 200 additional crypto accounts.
Binance.US suspends USD withdrawals
Users can still withdraw cryptocurrencies, according to the exchange’s updated terms of use.
XRP support for Roblox “inaccurate”: Decrypt
Correction: This article originally stated that the XRP cryptocurrency is available for in-game payments in Roblox and Smite through the payment processor BitPay. Roblox has denied the report and BitPay has since deleted its announcement on X. Roblox, a popular online game with an average of 65.5 million daily active users, has denied claims that […]
Fake BlackRock ETF news prompts US$57 mln in Bitcoin long liquidations
Bitcoin briefly spiked to US$29,388 after the fake post, before tracing back the gains.
Tether freezes 32 addresses related to terrorism in Israel and Ukraine
Tether says it froze US$873,000 in USDT linked to terror activities in Israel and Ukraine. CEO Ardoino stresses crypto’s traceability.
Solana Foundation partners with DMCC Dubai
The SOL token rose over 5% in the 24-hour after the partnership was announced.
Ferrari starts accepting crypto payments in the US
The luxury car maker said it started accepting crypto payments due to popular demand from its crypto investor customers.
Upbit Singapore receives in-principal license from MAS
Singapore’s major payment institution license will enable Upbit to continue offering regulated digital asset services while awaiting its full license.
Australian Treasury to release crypto draft legislation by 2024
The Australian Department of the Treasury said it will accept feedback on the draft bill by December.
Digital frontiers: Alex Tapscott on Web3, AI, and banking’s new dance
From tech monopolies to the synergy of AI and blockchain, Alex Tapscott, author of “Web3: Charting the Internet’s Next Economic and Cultural Frontier,” dissects the trajectories of the digital landscape.
Tether appoints Paolo Ardoino as new CEO
Ardoino takes Tether’s helm after serving as the USDT stablecoin issuer’s chief technical officer since 2017.
Mastercard’s Ciphetrace VP discusses decade-long maturation of cryptocurrency
Crypto is “part of the future,” said Melissa Wisner, vice president of crypto risk at Ciphertrace, during her panel discussion at D3 Bahamas.
Israel launches aid fund, SBF trial enters week 2, China looks to NFTs
Several crypto firms join forces to set up a humanitarian fund amid ongoing war and star witness in Sam Bankman-Fried’s trial gives testimony.
Weekly Market Wrap: Bitcoin falls below US$27,000 following CPI and Israeli conflict
Bitcoin was subdued by the mounting geopolitical concerns around Israel’s war with Hamas and the ongoing FTX lawsuit.
Bitcoin slightly dips following U.S. CPI report
With the U.S. CPI holding steady and predictions favoring unchanged Fed rates, Bitcoin remains resilient.
Israel-Palestine crisis: Navigating the intersection of conflict, aid and blockchain
Top blockchain and crypto news: Gaza tensions, digital tremors, NFTs are not dancing in September, Joe Lubin talks traditional system’s twilight.
Japanese yen-backed digital currency set to launch next July
The DCJPY could play a central role in the future’s currency system, according to DeCurret Holdings.
Coinbase Q3 trading volume drops 52% from last year
The current crypto bear market caused Coinbase’s trading volume to drop to levels not seen since 2020.
Digital assets are here to stay, Bahamas prime minister says
Bahamian Prime Minister Philip Davis said the island nation will continue to be a pioneer in the digital asset space.
Philippines Coins.ph partners with Circle for USDC remittances
Coins.ph joins forces with Circle to introduce USDC remittances, targeting a more efficient and affordable money transfer solution for millions of Filipinos abroad, supporting the UN’s goal of trimming remittance costs by 2023.
Bitmain reportedly suspended employee salaries from September
Bitmain, one of the world’s largest Bitcoin application-specific integrated circuit (ASIC) manufacturers, has suspended employee salary payments from September, according to a Tuesday report by China-based tech news outlet Leiphone. See related article: Hamas crypto donation accounts frozen by Israel police Fast Facts See related article: CMCC Global raises US$100 mln to launch Hong Kong […]
S.Korea’s crypto market rebounds in H1 but down 48.5% from 2021 close
South Korea’s cryptocurrency market has bounced back during the first half of this year but is still almost 50% below its value at the end of 2021, according to the Korea Financial Intelligence Unit (KOFIU), a government agency that oversees the nation’s anti-money laundering regime. See related article: Hamas crypto donation accounts frozen by Israel […]
Binance users in Hong Kong hooked by US$450,000 phishing attacks
The Hong Kong police warned on Monday that 11 Hong Kong-based Binance users lost over US$446,000 (HK$3.5 million) in cryptocurrencies to phishing text messages in the last two weeks. See related article: Gitcoin error sends US$460,000 to digital void Fast Facts See related article: CMCC Global raises US$100 mln to launch Hong Kong Web3 fund
Hamas crypto donation accounts frozen by Israel police
Israel Police’s cyber unit, Lahav 443, halts Hamas’ cryptocurrency fundraising efforts following Israeli crypto firms’ aid initiatives for war-affected citizens.
Israel crypto firms launch emergency crypto fund
Crypto Aid Israel, a fund aiding war-impacted citizens, uses a multi-signature wallet for Bitcoin, Ether, and stablecoins donations.
Crypto investment products record highest inflows since July: CoinShares
Inflows in cryptocurrency investment products reached US$78 million last week, the highest volume since July, according to crypto asset manager CoinShares. See related article: Alameda had a US$65 bln line of credit, says FTX co-founder Gary Wang Fast Facts See related article: DOJ seeks to block Bankman-Fried from bringing up Anthropic fundraise in court
Gitcoin error sends US$460,000 to digital void
Crowdfunding platform Gitcoin’s project lead Jonathan Miller said he accidentally sent approximately US$460,000 worth of Gitcoin tokens (GTC) to an unrecoverable contract address. See related article: DOJ seeks to block Bankman-Fried from bringing up Anthropic fundraise in court Fast Forkast See related article: SBF trial kicks off, Singapore gives crypto licenses as blockchain data comes […]
Can Asia’s progressive regulators tame crypto’s Wild West?
The Web3 sun is shining in Hong Kong, Singapore and Japan, where forward-thinking regulations are fostering crypto’s growth while boosting investor protections.
Weekly Market Wrap: Bitcoin falls 1.3% following U.S. jobs report
Bitcoin fell 1.3% in the hour following the U.S. jobs report, fueling market concerns that borrowing costs will remain high over a longer period of time.
Crypto fundraising in Q3 lowest in three years: Messari
The amount of funds raised by cryptocurrency firms dropped to a three-year low of US$2.1 billion in the third quarter of 2023, according to a new report published by on-chain intelligence firm Messari. See related article: CMCC Global raises US$100 mln to launch Hong Kong Web3 fund Fast Facts See related article: HKEX to launch […]
SFC to monitor illegal VATP activities with Hong Kong Police Force
The Securities and Futures Commission (SFC) of Hong Kong and the Hong Kong Police Force announced Wednesday the establishment of a working group to monitoring and investigating illegal activities related to Virtual Asset Trading Platforms (VATPs). See related article: Hong Kong crypto network Mixin loses US$200 million in hack Fast Facts See related article: JPEX […]
Bank of Korea to kick off wholesale CBDC pilot
South Korea’s central bank will be launching a pilot program for its central bank digital currency (CBDC) to explore infrastructure requirements, according to an Oct. 4 joint statement by the Bank of Korea (BOK), the nation’s Financial Services Commission (FSC) and the Financial Supervisory Service (FSS). See related article: CBDCs are coming. Here’s why you […]
EU wholesale CBDC plans to publish within weeks, France central bank governor says
European Union central banks will publish plans for a wholesale central bank digital currency (CBDC) in the coming weeks, François Villeroy de Galhau, the governor of France’s central bank, said at a Tuesday event in Paris. See related article: US legislators to discuss CBDC prevention bill on Sept. 20 Fast Facts See related article: Nepal […]
XRP up over 4% after judge denies SEC’s interlocutory motion
The XRP token rose 4.42% after a federal judge denied the U.S. Securities and Exchange Commission’s (SEC) motion to overturn its recent loss against Ripple Labs. XRP traded at US$0.5308 at 2:45 p.m. in Hong Kong on Tuesday, according to CoinMarketCap data. See related article: HK’s SFC & US SEC crack the whip as Blockchain […]
Ripple attains Singapore license to offer digital payment token services
The Asia-Pacific branch of Ripple Labs has received a Major Payments Institution license from the Monetary Authority of Singapore.
Bitwise to launch two Ethereum Futures ETFs
Bitwise Asset Management, a U.S.-based cryptocurrency index fund, announced that its two Ethereum futures exchange-traded funds (ETFs), the Bitwise Ethereum Strategy ETF (AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP), will start trading on Monday, Oct. 2. See related article: Valkyrie CIO expects US spot Bitcoin ETF approval in Q2 2024 […]
Why regulated decentralized exchanges are the wave of crypto trading’s future
Bringing together the best parts of centralized and decentralized exchanges, RDEXs also take into account the inevitability of regulations.
September 2023
Taiwan tightens crypto governance, HK acts on JPEX; El Salvador stockpiles Bitcoin
Asia is stepping up the regulatory ground for the digital asset and take a look at El Salvador’s Bitcoin future.
Philippines no plans to mirror U.S. SEC’s ‘crypto crackdown’, to publish crypto framework by H1 of 2024, says securities regulator
The Philippine Securities and Exchange Commission delayed the publishing of a crypto framework earlier this year citing the FTX collapse in late 2022 as the reason.
Quantum computing is coming out of the shadows. Web3 should be scared
Quantum computers may one day crack the cryptographic algorithms that underpin everything from Bitcoin to digital IDs. What can be done to secure Web3’s future?
‘There’s no doubt we picked a side here’ — Chainalysis founder Michael Gronager talks analytics, Ukraine and crypto adoption in Asia
In the second in a series of 1-on-1 interviews from the Token 2049 crypto conference in Singapore held Sept. 13-14, Michael Gronager, founder of blockchain analytics firm Chainalysis, spoke to Forkast about crypto use in the Ukraine conflict, tracking illicit on-chain activity and digital asset adoption in Asia.
SEC Chair Gensler faces bipartisan backlash over strict crypto regulations
Top blockchain and crypto news: U.S. lawmakers berate SEC over ETF applications. NFTs down but not dead. Hong Kong sees year’s biggest crypto heist so far.
Bitcoin, Ether gain; Wall Street on edge amid government shutdown fears
Bitcoin traded above US$26,300 Thursday morning in Asia after briefly breaching US$26,800. Ether also rose above US$1,600 before falling back.
Top 10 cryptos mixed, SEC again delays decision on Ark Invest ETF filing
Toncoin led losses among top 10 cryptos. Bitcoin dropped while Ether rose marginally.
Bitcoin, Ether tread water; U.S. equities slide with mega-cap tech giants leading the declines
Bitcoin dipped on Wednesday morning in Asia to trade range-bound below US$26,300. Ether edged higher but failed to reclaim the US$1,600 mark.
Bitcoin, Ether rise; BNB leads gains among top 10 cryptos
Binance’s BNB token gained the most after Binance Japan and Mitsubishi UFJ Trust and Banking Corporation jointly announced they are collaborating on the issuance of fiat-pegged stablecoins.
Binance Japan partners with mega bank MUFJ on stablecoin project
Mitsubishi UFJ and Binance Japan will collaborate on the issuance of fiat-pegged stablecoins.
PayPal’s stablecoin is a big step forward for crypto’s legitimacy but not much yet for the cause
PYUSD’s launch is injecting much-needed trust into crypto’s turbulent landscape, but its current form does not come with any of the benefits of real crypto, writes Danny Chong, co-founder of Tranchess.
Bitcoin, Ether flat; MicroStrategy adds to Bitcoin holdings
Bitcoin traded flat below US$26,300 Tuesday morning in Asia. Ether edged up but remained below the US$1,600 mark.
Bitcoin, Ether fall with Toncoin leading losses in top 10 cryptos
Bitcoin fell below US$26,500 while Ether dipped below US$1,600 in the past 24 hours.
Bitcoin, Ether drop; top cryptos retreat with Toncoin leading losers
Bitcoin fell Monday morning in Asia to trade below US$26,300. Ether also dipped and remained below the US$1,600 mark. All top 10 non-stablecoin tokens dropped.
Weekly Market Wrap: Nomura’s Bitcoin Fund, Citigroup blockchain move fail to lift Bitcoin above US$27,000
Bitcoin remained below the US$27,000 mark, despite significant institutional players, like Japan’s largest bank, Nomura, launching a Bitcoin adoption fund earlier this week.
Hong Kong may tighten enforcement amidst JPEX scandal, says former SFC official
The JPEX scandal sheds light on the vulnerabilities in Hong Kong’s crypto marketplace, prompting reflection on regulatory safeguards as the city aspires to be a global digital asset hub, former SFC regulator Angelina Kwan says.
Matic biggest loser among top 10; Bitcoin falls, Ether dips below US$1,600
Matic was the biggest loser in the top 10 cryptocurrencies by market capitalization, falling alongside most other cryptos and with Ether falling below US$1,600. Despite Bitcoin’s sluggish price action, industry experts say that institutions continue adopting the world’s first cryptocurrency. See related article: Weekly Market Wrap: Deutsche Bank’s crypto move propels Bitcoin to US$26,750 MATIC […]
Bitcoin, Ether and other top-10 cryptos down amid Wall Street sell-off
Bitcoin dropped on Friday morning in Asia to trade below the US$27,000 support level. Ether also retreated and lost control of the US$1,600 mark.
Toncoin leads declines, Bitcoin dips below US$27,000
Toncoin was the biggest loser in the top 10 cryptocurrencies by market capitalization, falling alongside most other cryptos except Dogecoin. With Bitcoin below US$27,000, FTX’s crypto liquidations could keep prices subdued for the rest of the month, market analysts told Forkast. See related article: Weekly Market Wrap: Deutsche Bank’s crypto move propels Bitcoin to US$26,750 […]