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Cryptocurrencies

1498 articles

February 2022

Solana, Terra join Bitcoin in free fall as markets continue tumbling

Solana joined Bitcoin’s free fall along with other cryptocurrencies on Tuesday, after being among the few cryptos standing in the green during a red day in the crypto market on Monday.  See related article: What Solana prices will be at the end of 2021 and beyond Fast facts Solana — currently at US$83.50 – is […]

Why digital assets are poised to disrupt philanthropy

Charitable giving in Bitcoin and other cryptocurrencies is growing by leaps and bounds. Michael B. Greenwald and Logan Weber explain the risks and benefits.
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Jump in NFT demand reflects crypto prices, right? Wrong

An asset bought and valued in crypto becomes decoupled from crypto prices, a split that reflects the differences between crypto investors and NFT buyers.

India needs to make up its mind over crypto

Although India hoped that taxation would be a step toward regulation rather than a ban, the high tax rates and proposed rules seem to be geared toward dissuading crypto trading.

11 arrested in India’s five-year, $5.4M crypto scam

Indian authorities arrested 11 individuals over the weekend, connected with a crypto scam case that allegedly used the allure of high gains to dupe 2,000 investors out of US$5.4 million (INR 400 million), local media reported.  Fast facts Four of the accused were apprehended on Saturday after being on the run since March last year, […]

LooksRare trails OpenSea in sales volume as developers cash out $30M

Trading volumes on non-fungible token (NFT) marketplace LooksRare dropped by more than half its daily volume since developers withdrew roughly US$30 million of its native LOOKS token and cashed out in wrapped Ether (wETH) Fast facts LooksRare was averaging daily sales volumes of around US$550 million but fell more than 50% overnight in early February […]

Cardano to close 2022 at $2.79, experts predict

Cardano is projected to skyrocket to US$58.04 by the start of the next decade, while closing 2022 at more than double its current value at US$2.79, according to Finder’s panel of 17 crypto experts.  See related article: Ethereum price expected to hit $7,609 in 2022: report Fast facts Cardano, which was trading at US$0.96 at […]

‘Extreme fear’: Bitcoin continues bear run, while Solana is up

Bitcoin, the largest cryptocurrency by market capitalization, continues to tank along with other cryptocurrencies in the global market, with investor sentiment at “extreme fear” at Bitcoin’s Fear and Greed Index.  See related article: Bitcoin leads market-wide downturn as Russia fears rise Fast facts Bitcoin is currently down by almost 2% to trade at US$39,185. Bitcoin’s […]

OpenSea CEO: $1.7M phishing not from the NFT marketplace

OpenSea CEO Devin Finzer has responded to an apparent phishing scam that targeted its users in a US$1.7 million theft of popular non-fungible tokens (NFTs) such as Bored Ape Yacht Club and Azuki.  Fast facts “As far as we can tell, this is a phishing attack. We don’t believe it’s connected to the OpenSea website. […]

Circle’s growth outpaces Tether as it doubles valuation

Circle’s USDC, the world’s second-largest stablecoin, is gunning for the title of the world’s top stablecoin as it closes in on Tether’s market capitalization after doubling its valuation to US$9 billion in a revised merger deal.  See related article: Stablecoin issuer Circle to go public in US$4.5B SPAC deal Fast facts USDC’s market cap has […]

Crypto market rebound is short-lived as Russia tensions loom

Investor relief at last week’s slight market rebound gave way to concerns over military tensions in Ukraine, sending crypto and traditional markets reeling.

Bitcoin leads market-wide downturn as Russia fears rise

Bitcoin led a market-wide sell-off Thursday night Asia time by losing almost 8% coming into business hours Friday Asia time, and was trading at US$40,578 at press time. See related article: Is Bitcoin’s rocky start to 2022 a sign of things to come? Fast facts All other major tokens were down around the same amount, […]

Biden to order crypto oversight: report

President Biden’s executive order directing agencies to devise a comprehensive strategy to regulate cryptocurrencies and other digital assets and examine a digital dollar may be issued next week, according to Yahoo! Finance. Fast facts The order, expected weeks ago, was delayed by a disagreement between the White House and the Treasury over its scope, Bloomberg […]

Korea’s crypto unicorns; Hong Kong’s e-CNY pilot

Korea’s crypto sector spawns two unicorns, meanwhile Hong Kong is set to be an idea cross-border e-CNY test city.

Australia’s NRL latest sporting league to ink crypto sponsorship

Australia’s National Rugby League (NRL) has announced Brisbane-based crypto exchange Swyftx will be the league’s first official crypto sponsor until 2025, with a one-year extension option. See related article: Crypto.com inks AU$27M deal with the Australian Football League Fast facts For an undisclosed amount, Swyftx will support all NRL and NRLW games and finals, as […]

Hong Kong makes apt testbed for e-CNY cross-border use

The city’s global reach, Hong Kong dollar and mainland ties make it a good fit for Chinese authorities to trial e-CNY international payments.

NEO gets price bump after NFT integration on BSN

The price of NEO climbed by 6.2% over the last 24 hours to US$25.13 on Thursday morning Asia time, following China-based Neo’s Tuesday announcement of its Jiuquan Chain’s integration to China’s state-backed blockchain network. See related article: BSN to integrate Neo’s chain to bolster NFT issuance in China Fast facts NEO hit a daily high […]

How DeFi’s user interface problems are deterring widespread adoption

DeFi can put investors at risk if they don’t understand how it works, writes Korapat Arunanondchai. Here’s how to improve user experience.

Pakistan’s crypto warning; Indian banks’ crypto reluctance

Pakistan’s State Bank governor warns crypto’s risks, also in India, banks show crypto reluctancy.

Philippines to provide residency through Oz token staking

The Philippines is offering residency in one of its special economic zones known as ecozones with low tax rates for users staking the utility token of Oz Finance, TOTOZ.  Fast facts The residency is offered at the Freeport Area of Bataan, one of over 400 operating ecozones in the Philippines, which is located across the […]

Crypto assets, stablecoins pose risk to global financial stability: FSB

The rapidly growing crypto market could pose a threat to global financial stability, according to a Financial Stability Board (FSB) report published on Wednesday. Fast facts The FSB, an international body that monitors and makes recommendations about the global financial system, identified vulnerabilities related to unbacked assets such as Bitcoin, stablecoins such as USDT and […]

RBI is causing crypto hesitancy among Indian banks

India’s crypto tax plan was expected to bolster adoption, but the central bank’s hold on the banking sector puts a check on crypto-related services.

Pakistani central bank echoes RBI’s concerns over crypto

State Bank of Pakistan (SBP) governor Reza Baqir said in this year’s MASIC Annual Investment Forum that cryptocurrency risks far outweigh their benefits and threaten financial and monetary stability for developing countries. Fast facts The SBP recommended a ban on cryptocurrencies last month, with one of the nation’s largest banks quickly heeding the advice by […]

Warren Buffett invests $1B in Bitcoin-friendly Nubank

Warren Buffett’s Berkshire Hathaway purchased US$1 billion of Brazilian neobank Nubank Class A stock in Q4 2021 while selling billions of dollars of stock in Mastercard and Visa. Fast facts Buffett’s holding company dumped US$1.3 billion and US$1.8 billion from Mastercard and Visa, respectively, according to a Feb. 14 filing with the U.S. Securities and […]

HK watchdog’s NFT warning; DBS plans crypto expansion

HK watchdog’s sends out warning calling NFT a threat, meanwhile in Singapore DBS plans a crypto expansion

Bitcoin’s 30-day performance shows it’s not just another tech stock

As Bitcoin’s price movement began to mirror that of traditional markets, some likened it to tech stocks. Its recent price action shows otherwise.

RBI calls for crypto ban in India, again

T Rabi Shankar, the deputy governor of the Reserve Bank of India, the country’s central bank, proposed an outright ban on cryptocurrencies on Monday, assuring the central bank’s position to prohibit digital assets has not changed since the 30% tax on crypto income was announced.  Fast facts Shankar said he found no merit in the […]

DBS Digital Exchange hits new high in trading value

DBS Digital Exchange (DDEx), one of Asia’s first bank-backed digital exchanges, recorded over SG$1.1 billion (US$818 million) in trading value in FY2021, the company said in a press release on Tuesday. Fast facts DDEx is currently a members-only exchange that provides corporate and institutional investors, accredited investors, and family offices that bank with DBS, access […]

Russian-linked strains lead crypto ransomware in 2021: Chainalysis

Ransomware revenue in crypto in 2021 has been traced to strains connected to Russia with most of the extorted funds laundered through services that primarily cater to Russian users, blockchain forensics firm Chainalysis reported. Fast facts Around 74% of the over US$400 million worth of crypto ransomware revenue last year was directed to strains that […]

Forget synthetic wombs. Give women more opportunities in DeFi and Web3

Vitalik Buterin’s advocacy of synthetic wombs misses the point, writes Izzy Howell of Cypher. Here’s why crypto can do more for gender equality.

India government, central bank in ‘complete harmony’ on crypto: FM

The Indian government and the Reserve Bank of India (RBI) are working in “complete harmony” and any decision on cryptocurrency will be made jointly, finance minister Nirmala Sitharaman said in a press conference on Monday.  Fast facts Discussions on crypto have been ongoing between the government and the RBI — India’s central bank — even […]

Ethereum price expected to hit $7,609 in 2022: report

Ethereum’s price is expected to reach US$7,609 this year, although it is expected to end the year at around US$6,500, according to Australian fintech Finder’s panel of 33 crypto specialists.  Fast facts In the long term, the panel predicted that Ethereum’s price will reach US$10,810 by the end of 2025, and US$26,338 by the end […]

Cryptocurrencies are not legal in India, future uncertain: Union minister

Union minister Bhagwat Karad said on Saturday that cryptocurrencies are not legal in India and that their future is uncertain at the moment.  Fast facts Many investors and exchanges had viewed a decision to impose a 30% tax on cryptocurrency profits as a step toward validating the industry. Finance minister Nirmala Sitharaman, however, clarified last […]

Bitcoin outperforms tech stocks by 12% average in last 30 days

Bitcoin has continued to outperform traditional investment vehicles with the digital asset leading over major tech stocks in the last 30 days, according to Finbold. Fast facts Bitcoin outperformed the top six tech stocks by an average return on investment (ROI) of 12.24% as of Feb. 13. Bitcoin significantly outpaced Meta by 46.74%, followed by […]

Bitcoin hashrate reaches new ATH in 32% surge

Bitcoin’s hashrate reached an all-time high over the weekend, despite many miners being forced to move operations out of Kazakhstan. Fast facts The total Bitcoin hashrate surged by 31.7% to an all-time high of 248.11 exahashes per second in raw values on Saturday, according to data from Blockchain.com. The latest hashrate read at 209.63 EH/s […]

RBI chief’s crypto warning; Korean crypto execs jailed

Reserve Bank of India’s chief sends crypto warning. In addition, Korean crypto execs gets jailed

Collision or coexistence: Can CBDCs and crypto live side by side?

As more countries announce plans for central bank digital currencies, will that break crypto’s promise as the future of money?

Guilty verdicts handed down in S.Korea’s biggest crypto scam

Seven executives of scam crypto exchange V Global were found guilty on Friday and sentenced to jail time — but it might not be enough to console victims.

Tiger Global leads $50M round in Philippine crypto exchange

The Philippine Digital Asset Exchange (PDAX) has raised US$50 million in a Series B funding round led by Tiger Global.  Fast facts UBX, the venture fund of UnionBank of the Philippines, Kingsway Capital, Jump Capital, U.S. blockchain payments company Ripple, among others, also participated in the round.  The funding round started in August last year […]

North Korea refutes crypto hack allegation, claims the US made it up

North Korea’s foreign affairs ministry wrote on its website Tuesday that the U.S. is behind the claim that the socialist state hacked millions of dollars worth of cryptocurrency. Fast facts The Democratic People’s Republic of Korea (DPRK) warned that it considers the act of spreading rumors about a “non-existent” cryptocurrency theft to be a serious […]

Crypto is ‘not even a tulip,’ India’s central bank chief says

Reserve Bank of India Governor Shaktikanta Das said in a press conference that cryptocurrencies have no underlying value and that they are “not even a tulip,” warning investors of its risks.  Fast facts Das’s comments come just over a week after India’s central government announced a 30% taxation plan on income from crypto assets as well […]

Will the growing regulatory heat on stablecoins stifle innovation?

As stablecoins face pressure to adopt traditional safeguards, the industry’s efforts to self-regulate should not be overlooked, writes Charlie Martin of Gro.

EU to introduce bill next year to plan a digital euro

The European Commission announced Wednesday it will propose a bill in early 2023 to introduce a digital euro, according to a report by Politico. Fast facts The European Central Bank (ECB) is already experimenting with the digital euro and is expected to begin working on a prototype by the end of next year. A digital […]

Bandai Namco plans IP metaverse; Russia’s crypto flip

Japanese gaming giant Bandai Namco plans on a metaverse with their IP meanwhile, Russia does a crypto flip.

China’s e-CNY pilot to boost Hong Kong as offshore yuan trading center

Upcoming digital yuan trial to piggyback on Hong Kong’s popular Faster Payment System for smoother cross-border transactions.

Indian crypto tax creates more confusion than clarity for traders, exchanges

The announcement of a crypto tax dispelled fears of a ban but left exchanges wondering whether they may be hurt in the long run.

JPMorgan predicts $150,000 Bitcoin price in the long run

American banking giant JPMorgan predicts Bitcoin’s price will approach US$150,000 in the long term, strategist Nikolaos Panigirtzoglou wrote in an investors note cited by Bloomberg. Fast facts Bitcoin, the largest cryptocurrency by market capitalization, is currently trading at about US$43,830, but JPMorgan pegs its fair value at around US$38,000, about 15% lower than its current […]

E-CNY chief says digital dollar poses no threat to China

China does not expect significant impact on its monetary system if the digital dollar were introduced, said Mu Changchun, director-general of the People’s Bank of China Digital Currency Initiative on Wednesday. He spoke at a panel organized by the Atlantic Council think tank to support the release of the International Monetary Fund’s report on central […]

Crypto to be OK’d for circulation in Russia, as ban concerns fade

Russia’s central government agencies reached an agreement to regulate cryptocurrencies by mandating licenses for exchanges and taxing large transactions on Tuesday, shelving concerns of a blanket ban proposed by the central bank last month.  Fast facts Russian business newspaper Kommersant reported the government and the Bank of Russia are preparing a draft law by Feb. […]

Shiba Inu metaverse tease fuels 60% price boost

Shiba Inu (SHIB) developers announced they will be releasing plots of land in an upcoming metaverse — codenamed Shiberse. Fast facts The “Shiba Lands” would be available through the native token of the ecosystem LEASH and the developers said they were working on a queue system based on LEASH holdings to prevent bots from pumping […]

AssangeDAO strikes crypto gold

WikiLeaks founder’s legal defense fundraising bonanza. Shiba Inu’s big new leap. NFT fever rises in China.

What is Web 3.0 and how will it shape the crypto future?

By returning data ownership and reshaping human-machine interactions, the third generation of the internet promises an interconnected future.

Memecoins prove their staying power, despite industry skepticism

Last weekend’s rally shows there is still life left in memecoins. Industry insiders weigh in on where they stand in the long run.

Crypto helps fund Ukraine defense against Russia

Ukrainian activists and volunteer groups are crowdsourcing significant money through crypto donations to fund the defense against a possible Russian invasion.  Fast facts Ukrainian non-governmental organizations (NGOs) and volunteer groups have collectively received over US$570,000 in crypto, with the majority of funding coming in last year, data from blockchain analysis firm Elliptic shows.  Come Back […]

Indian crypto exchange CoinDCX crosses 10 million user mark

Indian crypto trading exchange CoinDCX says it has crossed the 10 million user mark. Fast facts CoinDCX had 3.5 million customers as of August last year.  CoinDCX became India’s first crypto unicorn after its Series C funding round led by former Facebook co-founder Eduardo Saverin’s B Capital and others. Established in 2018, the company’s milestone […]

US seizes $3.6B worth of Bitcoin stolen in 2016 Bitfinex hack

The U.S. Department of Justice (DOJ) has seized over US$3.6 billion worth of Bitcoin linked to crypto exchange Bitfinex’s hack that occurred in 2016, as the country ramps up efforts to combat crypto crime. Fast facts The DOJ said Tuesday in a statement that it has arrested two individuals for allegedly laundering proceeds of 119,754 […]

3D NFT marketplace coming to Polygon via Smart MFG

Smart MFG, a blockchain-based supply chain decentralized finance firm, has integrated with Polygon to launch Phigital, a 3D marketplace for non-fungible tokens (NFT). Fast facts Phigital will focus on interoperability of 3D assets across metaverses, and NFTs with real-world use cases. The movement of different assets and NFTs across metaverses has been one of the […]

Bithumb goes for Olympic gold; India crypto tax questions

South Korean crypto exchange Bithumb goes for Olympic gold, meanwhile in India clouds cast over crypto tax questions

Polygon raises $450M led by Sequoia Capital India

Ethereum layer-2 scaling solution Polygon has raised US$450 million from several big name investors including Sequoia Capital India, SoftBank, Galaxy Digital and Tiger Global, boosting its war chest as demand for its services grow.  Fast facts Polygon is one of the most prominent Ethereum scalers whose tools allow developers to create decentralized apps (dApps) and […]

Japan’s Mitsubishi UFJ to issue yen-pegged stablecoin: report

Japan’s largest bank, Mitsubishi UFJ Trust (MUFJ), plans to issue a yen-pegged stablecoin in 2023 for instant settlement of securities transactions, according to Nikkei Asia. Fast facts By accelerating the settlement process, Mitsubishi UFJ hopes to cut costs arising from settling securities transactions by fiat, which usually takes a few days to process. Japan’s Financial […]

Dogecoin, Shiba lead memecoin pack in market rally

Memecoins, led by Dogecoin (DOGE) and Shiba Inu (SHIB), have been among the biggest movers in this week’s rally, gaining more than 20% in market cap as a token category over the past 24 hours, Tuesday morning Asia time, according to CoinGecko. Fast facts SHIB was one of the strongest performers, gaining almost 30% in […]

Year’s biggest rally pushes crypto market cap above $2 trillion

After a poor start to the year, the market needed some good news. Industry watchers urge caution.

Crypto donations rise by 1,558% on The Giving Block in 2021

Charitable donations on crypto philanthropy platform The Giving Block rose by 1,558% in 2021, the company announced in its annual report. Fast facts The Giving Block’s crypto donation volume increased in each quarter of 2021 and surpassed US$69 million in total donations, with an average of US$10,455 worth of crypto per donation. As cryptocurrency is […]

Indian investors want government to reconsider crypto tax rate

Over 54,000 crypto investors have signed a petition urging the Indian government to reconsider a planned 30% tax rate announced earlier this week.  Fast facts Blockchain and crypto education provider Crypto India co-founder Aditya Singh started the petition on Thursday to stop the government from comparing crypto to “social evils like betting and gambling.” The […]

Solana DeFi avoids meltdown as Wormhole loss replaced

Jump Crypto announced that it replaced 120,000 ETH Friday morning Asia time to its cross-chain bridge Wormhole after a US$325 million exploit left wrapped Ether (wETH) in the Solana ecosystem unbacked. Fast facts The hacker was able to exploit Solana’s verification system to mint 120,000 wETH, and use it to funnel at least 93,750 ETH […]

What I learned from my role in digitizing the yuan

CBDCs are vulnerable to hacking and the powers of quantum computing, cybersecurity expert Amnon Samid writes. Central banks must heed the warning.

Will blockchain’s future be cross-chain or multi-chain?

Vitalik Buterin caused an uproar over his recent criticisms of blockchain bridges. Here is a rebuttal in support of this nascent technology.

Aussie mining billionaire files suit against Meta over crypto ads

Australian resources mining billionaire Andrew “Twiggy” Forrest is taking Meta (formerly Facebook) to court alleging the social media giant breached local money-laundering laws by failing to prevent false cryptocurrency advertisements on its platform. Fast facts In legal proceedings lodged in the Western Australia Magistrates Court, Forrest alleges Meta “failed to create controls or a corporate […]

Indian crypto tax ends fears of ban as investors brace for impact

Top blockchain and crypto news: New Delhi’s crypto give and take. Malice in Wonderland? Hong Kong’s selective spot ETF rules.

Australian Aboriginal sovereign CBDC up and running

In a first for the country, the Sovereign Yidindji Government in Australia has issued a CBDC with its first transaction occurring this week.

Crypto adoption may rise as industry self-regulates

Crypto regulations are lagging the market’s needs, and the industry should help create order to gain greater public trust, writes Imgesu Cetin of Defy Trends.

Another NFT marketplace launches ‘vampire attack’ against OpenSea

Mark Cuban-backed non-fungible token (NFT) marketplace Mintable launched a self-described vampire attack against top marketplace OpenSea by selling popular collectibles at a loss. Fast facts Singapore-based Mintable conducted a fire sale of nine Mutant Ape Yacht Club NFTs by selling them 1 to 2 ETH below their floor price on Jan. 26, while another was […]