New Cosmos, Mastercard projects to boost Ethereum scalability
With Ethereum usage at all-time high, a Cosmos ‘bridge’ to other blockchains and Mastercard rollups aim to solve a major problem plaguing the Eth network.
Regulators and the problem of unstable stablecoins
Federal regulators have turned their sights on stablecoins. But is the attempt to tame this digital currency too late?
The Forkast.News guide to last-minute blockchain and crypto gift ideas
Not yet done with your holiday shopping? Here are ideas for all the loved ones on your list, whether they are tech-savvy or merely crypto-curious.
Delay likely for India’s crypto bill; Crypto’s landmark year
Delay likely for India’s crypto bill, none the less 2021 becomes crypto’s landmark year.
Game company Nexon America now accepts crypto for in-game payments
Asia’s gaming giant Nexon’s US subsidiary supports cryptocurrencies for players in buying items inside its popular online games.
Avalanche price surge leads minor market rebound
After two weeks of a downward price spiral, the market showed some signs of life this morning, with most coins managing to rise about 5% coming into business hours Asia time. AVAX, however, the native token of the Avalanche blockchain, gained almost 25% overnight to reach a two-week high of US$106.87 and finding itself in […]
NBA is taking the lead with blockchain, crypto
The National Basketball Association has been ahead of the game in crypto adoption, but after a week of major developments, the league is now way out in front.
Running on empty: How NFT drops drive up gas fees — and transaction anxiety
Gas fee unpredictability is a highly problematic aspect of the Ethereum ecosystem, writes Matt Cutler of Blocknative. What are the solutions?
Myanmar’s resistance routes funding through Tether
Top blockchain and crypto news: Can stablecoins bankroll democracy? Nike swooshes into the metaverse. Animoca and Bored Apes venture deeper into the gaming jungle.
Myanmar’s shadow government uses Tether in its fight against military rule
The National Unity Government recognizes Tether as an official currency, defying the cryptocurrency ban imposed last year.
Latest Elon Musk plug sends Dogecoin price soaring — briefly
Dogecoin rallied 31% when Elon Musk tweeted that Tesla will accept it for payment of “merch.”
How sports and crypto are knocking it out of the park
The billion-dollar intersection of sports and crypto is a big win for all, writes Ben Armstrong, aka BitBoy Crypto. Here’s how to make sense of this seismic cultural shift.
Cryptocurrency prices take another hit in downward spiral
Macroeconomic factors and a spate of bad news override bullish outlook in crypto market as the year lurches toward its end.
South Korea’s Danal to allow crypto as payment for BMWs
Fast facts Blockchain-based payment platform Danal Fintech announced a new service plan that will allow BMW vehicles to be purchased with Paycoin (PCI) in its new partnership with Samchully Motors, the domestic dealer of the luxury automobile line. The recent announcement makes the first case in South Korea where an automobile can be paid in […]
Solana suffers network slowdown, raising questions around proof of history
Confusion surrounded the Solana blockchain community over the weekend as a sudden drop in transaction speeds was initially believed to be a distributed denial of service (DDoS) attack, resulting in a lengthy debate as to the cause of the delay. Fast facts Solana-based non-fungible token (NFT) platform Blockasset was one of the first to highlight […]
SafeMoon sees price surge following update to V2
The price of the native token of the SafeMoon blockchain momentarily surged over 8% in price this morning Asia time, as the developer behind the token announced that it had successfully transitioned to the second iteration of the network. SafeMoon’s price retreated throughout the day, however, and was trading at US$0.0000016 at press time, 2% […]
Shiba Inu now accepted at GameStop, Lowe’s and Nordstrom via Gemini-backed Flexa
It’s come full circle: Shiba Inu holders can now spend their SHIB at GameStop — the company that helped trigger the memecoin trend.
Shibu Inu coin struggles; Blockchain an inflation hedge solution?
Shibu Inu coin struggles, meanwhile could blockchain an inflation hedge solution?
INX exec says crypto CEOs should talk to the SEC
Chief business officer of the first SEC-registered digital security says crypto companies got caught with their hands in the cookie jar.
Shiba Inu coin burn and gaming deals can’t stop its price slide
$30 million worth of SHIB stolen in BitMart hack sparks hunt for the dognapper, as ecosystem developments fail to return Shiba Inu coin to its former glory.
Polygon goes deeper into ZK tech by acquiring Mir for $400M
India-based Layer 2 Ethereum scaling platform Polygon has acquired zero-knowledge technology developer Mir for US$400 million as part of Polygon’s continued focus on ZK tech. Fast facts Mir will help Polygon build its new project — Polygon Zero, a highly scalable, Ethereum compatible ZK rollup. A zero knowledge protocol is a cryptographic algorithm that allows […]
India’s crypto bill to impose jail and US$2.65M fines for violations
India’s proposed rules for digital assets would ban cryptocurrency for payments while the Securities and Exchange Board regulates exchanges. Will it become law?
Here comes the crypto derivatives boom
Investment banks’ hunger for a new revenue stream is likely to drive up the popularity and registration of crypto derivatives products.
Shinhan, Standard banks demo cross-border stablecoin remittance
The transaction, using the Hedera Consensus Service network, bypasses intermediaries, lowering fees.
Bitcoin price tumbles below $50K as Evergrande defaults
Chinese property giant Evergrande has defaulted on its debt to global investors, credit rating firm Fitch Ratings reported today. Fast facts Fitch has downgraded Evergrande to “Restricted Default” after its deadline to pay interest due on two dollar-denominated bonds passed on Monday. The actual payments were due a month ago and the grace period expired […]
Bank stablecoin project; Watch for Fed taper in 2022
Banks releasing new stablecoin project meanwhile better watch for Fed taper in 2022
Hong Kong VC firm Chiron Partners raises $50M to back Terra
Hong Kong-based venture capital (VC) firm Chiron Partners announced Wednesday the launch of a US$50 million fund to support the Terra blockchain ecosystem. Fast facts Chiron Partners will use the fund, namely the Chiron Terra Fund I (CTI), to invest in innovative projects built on the Terra ecosystem, such as decentralized finance (DeFi) applications and […]
What is Polygon (MATIC) — ‘Ethereum’s internet of blockchains’?
Polygon envisions a world where value can be exchanged without borders. In this Forkast.News explainer, find out how Polygon works and why its MATIC token is defying crypto market gravity — again.
China’s PBOC wants to link e-CNY with Hong Kong’s Faster Payment System
Mu Changchun, director-general of the People’s Bank of China’s digital currency institute, said today the central bank is working with the Hong Kong Monetary Authority (HKMA) to test cross-border payment features for the e-CNY, China’s much anticipated central bank digital currency (CBDC). Fast facts Mu said at a webinar, jointly organized by the PBOC and […]
What is ENS (Ethereum Name Service) and how does it work?
ENS allows for a readable username that is portable across dApps and blockchains. Why is it important for the Web 3.0 world? Forkast.News explains.
OpenSea’s Wall Street waltz disappoints NFT devotees
OpenSea IPO plans in choppy waters. Crypto markets crumble. Bitcoin mining power struggles.
Australia announces biggest overhaul to payments in 25 years — eyes now set on crypto
As part of a broader attempt to address Australia’s payments industry, the government offers a roadmap to where crypto regulation can lead in 2022.
How crypto ETFs can open doors for traditional finance to enter DeFi
Crypto ETFs make it easy to invest in digital assets without the complexities, writes Kevin Tai of Linear Finance. Imagine what a crypto index can do.
Bitcoin crash drags down South Korean NFT game stocks
South Korean game shares fell sharply, just a few weeks after announcements of new NFT metaverse ventures sent the shares up.
Nexo and Fidelity Digital Assets expand institutional lending services
Nexo, a globally regulated crypto-collateralized credit provider, has announced a partnership with Fidelity Digital Assets, an execution and custody services provider, to establish a platform to provide institutional access to digital assets with custodial and lending services, according to a news release shared with Forkast.News. Fast facts The partnership will allow Nexo to establish an […]
Manny Pacquiao launches esports team in midst of presidential campaign
‘Team Pacquiao GG’ may be coming soon to League of Legends and Axie Infinity. But whatever happened to the former pro boxer’s Pac token?
BIS: DeFi has few real-economy uses, says ‘decentralization is an illusion’
With suitable regulation in place, DeFi could yet play an important role in the financial system, BIS suggests.
Japan may limit stablecoin issuers to banks, wire transfer companies
Japan’s Financial Services Agency (FSA) is planning a legislative proposal for the upcoming year to restrict the issuance rights of stablecoins to banks and wire transfer companies, according to a Nikkei Asia report. Fast facts The FSA’s decision to limit the issuance is meant to lower risks for stablecoin users, as FSA-authorized banks and wire […]
Kotak 1st major Indian bank to embrace crypto with WazirX partnership
Kotak Mahindra Bank, a leading private bank in India, has struck a partnership with crypto exchange WazirX, the Economic Times reported. Fast facts WazirX has opened an account with Kotak that can be used to pay and receive money from investors, according to the ET report. The account will be activated after the completion of […]
Fidelity launches spot Bitcoin ETF in Canada
One of the world’s largest asset managers sought SEC approval of a spot Bitcoin ETF in March and is still awaiting a response.
Crypto hit in market sell off; Bitget reportedly suspended by MAS
Crypto hit in market sell off, also Bitget reportedly suspended by MAS
Bitget suspended over Army Coin, named after K-pop boy band BTS fanbase
Singapore-based crypto exchange had claimed the fan token would support BTS members — while the band’s agency denied any association with it.
Global markets downturn hits crypto as well; BTC trading below $50K
For the second weekend in a row, markets were hit with a massive shock due to external factors. Market watchers weigh in on price movements and what to expect.
SEC denies WisdomTree’s spot Bitcoin ETF
The SEC’s second rejection of a spot Bitcoin ETF again cited concerns about fraud and manipulation.
Japan’s Astar Network winner of 3rd Polkadot parachain auction
Astar Network won Polkadot’s third parachain slot auction today. Polkadot will launch Astar Network and four other parachains on its platform on Dec. 17. Fast facts “This is a huge step for the entire Astar ecosystem, since we have been developing the network for more than 2.5 years to become a Polkadot parachain,” said Sota […]
New round of digital yuan coupons issued as Beijing Winter Olympics near
In Beijing, four state-run banks released a new batch of digital yuan (e-CNY) coupons on Thursday to promote its adoption rate in rehearsal for the upcoming Winter Olympics. This batch of coupons tests the e-CNY’s application in small-amount and high-frequency payment scenarios. Fast facts According to an announcement from Beijing financial authorities, coupon use cases […]
Japan’s central bank is urged to speed up its digital yen project
With economic security as a top priority, the Kishida administration anticipates the release of competing CBDCs.
The digital yuan’s de-dollarization
Why the Federal Reserve and other major central banks are likely to speed up development of retail CBDCs.
Crypto resilient to Omicron: Japan speeds up on CBDC
Crypto resilient to Omicron meanwhile Japan speeds up on CBDC
Is Terra — whose LUNA coin is now at another all-time high — really where the smart money is?
LUNA is now the 12th largest crypto, and Terra’s platform has been called ‘Alipay on the blockchain.’ What are Terra’s investment risks? Forkast.News explains.
Living ‘Eco-NFTs’ and holograms on display at Art Basel Miami Beach
The firm behind legendary sci-fi series Star Trek, Roddenberry Entertainment, has immortalized a key moment in entertainment history — in a way that may in time become an equally iconic moment in blockchain history. Gene Roddenberry’s signature on the first contract between himself and Lucille Ball’s Desilu Productions, which made Star Trek a reality, has […]
SEC chair Gensler calls stablecoins ‘poker chips’ again
Conversation between current and former SEC chairs at annual digital asset compliance summit focused on regulating crypto.
Kimchi Premium hits highest level since May
The Korea Premium Index for Bitcoin reached 7% last Sunday, which may indicate an influx of retail investors.
Shiba Inu and Luna on a tear; K-pop bets on digital assets
Shiba Inu and Luna on a tear, also K-pop bets on digital assets
Investors queasy as prospect of India crypto ban returns
Top blockchain and crypto news: Are India’s CBDC plans crowding out crypto? Jack Dorsey goes full Bitcoin bro. China’s digital yuan hopes claim another victim.
LUNA, Shiba Inu Coin soar as Ethereum nears all-time high
As the market recovers from a weekend sell-off, Terra and Shiba Inu tokens shine bright while Ethereum eyes new price heights. What’s behind their rally?
What is Cosmos — the ‘internet of blockchains’?
The Cosmos ecosystem is expanding rapidly with inter-blockchain transfers on the rise. What makes Cosmos different from other blockchains? Forkast.News explains.
Bitcoin spot ETP launches in the EU
While the wait for a U.S. Bitcoin spot exchange-traded fund continues, Invesco, a U.S. investment firm with US$1.6 trillion in assets under management, has partnered with CoinShares to launch a European exchange-traded product physically backed by Bitcoin, according to reporting on Nasdaq.com. Fast facts The Invesco Physical Bitcoin ETP will be listed on Deutsche Börse […]
Bitcoin, Ether prices hold rebound as SHIB surges; crypto funds see record inflows
Bitcoin (BTC) and Ethereum’s Ether (ETH) prices on Tuesday morning Asia time held their rebound from the Black Friday sell-off of global equities and cryptocurrencies following news of the new Covid-19 Omicron variant. Bitcoin was trading at US$57,184 and Ethereum at US$4,445, as of publishing time, according to CoinGecko data. Fast facts Institutional investors appear […]
Solana claims 1 transaction on its network uses less energy than 2 Google searches
As the pushback over environmental concerns of the blockchain industry continues, a recent report by Solana says that a single transaction on the network uses less energy than just two Google searches. Fast facts Completed under the guidance of an independent energy and climate advisor, Solana’s November Energy Report found that a single Solana transaction […]
Omicron hits markets; Japanese novel released as NFT
Omicron hits markets meanwhile Japanese novel released as NFT
Nigeria charges ahead with CBDC deployment with 600K app downloads
In Nigeria, the eNaira — the country’s newly launched central bank digital currency (CBDC) — has already seen nearly 600,000 downloads, according to local media Nairametrics citing the Central Bank of Nigeria (CBN). Fast facts The local media reported Saturday that the CBN governor has revealed the country’s total digital transactions rose by more than […]
China’s new mobile payment rules could pave the way for e-CNY, experts say
In the long run, the new rules may ‘lay the perfect foundation’ to improve risk management, says an ICBC expert.
South Korea’s 20% tax on virtual asset gains is postponed
A new amendment to South Korea’s income tax law, which includes delaying the taxation on crypto gains by one year, was agreed upon by South Korean political parties at the National Assembly today. Fast facts The ruling Democratic Party and the opposing conservative People Power Party officially made a resolution at the National Assembly Strategy […]
Fintonia launches Bitcoin funds in Singapore
Fund manager Fintonia has launched two new Bitcoin funds — Fintonia Bitcoin Physical Fund and Fintonia Secured Yield Fund — for institutional investors. Fast facts The physical fund buys and holds actual Bitcoin, rather than investing in a Bitcoin-linked derivative product. The fund’s Bitcoin will be stored with a licensed and insured custodian, according to […]
AMC, Sony to release Spider-Man NFTs ahead of upcoming film
To mark the release of the third installment in the latest Spider-Man trilogy, theater giant AMC and Sony Pictures are offering 86,000 non-fungible tokens for fans who pre-order tickets to the film, which opens on Dec. 16, AMC CEO Adam Aron announced via Twitter. Fast facts Amid rising concerns of the environmental impact of NFTs […]
BTC, ETH prices recover after market jolt following Omicron variant
The impact was relatively short-lived, and many major tokens had already retraced most of their positions from Friday coming in Asia business hours.
Metaverse picks up momentum; Binance tweet gets yellow card
Metaverse picks up momentum, on the other hand Binance tweet gets yellow card
What is SafeMoon and can it safely reach the moon?
SafeMoon, known for high fees and social media hype, is now 85% below its all-time high. What lies in SafeMoon’s future?
Soccer superstar Iniesta given the yellow card over Binance promo tweet
Andrés Iniesta, former FC Barcelona veteran and current midfielder for Japan’s Vissel Kobe, promoted crypto exchange Binance via Twitter, which prompted a securities market regulator to write a cautionary reply tweet against crypto. Fast facts Iniesta wrote on Twitter Wednesday, saying: “I’m learning how to get started with crypto with Binance,” also posting pictures of […]
Amount of Ether burnt since EIP 1559 reaches 1M ETH
The total amount of Ether — the token of the world’s second-largest cryptocurrency Ethereum — “burned” since the introduction of Ethereum Improvement Protocol (EIP) 1559 as part of the London hardfork has hit the 1 million ETH milestone, according to figures from blockchain data aggregation site WatchtheBurn. Fast facts With the total amount of ETH […]
Reserve Bank of Australia considers wholesale digital dollar
Interest in cryptocurrency is being driven in part by ultra-low interest rates, Reserve Bank of Australia assistant governor Michele Bullock has said, while indicating the RBA is considering the creation of a central bank digital currency (CBDC) for use in wholesale markets, according to the Australian Financial Review. Fast facts Speaking at a Women in […]