17,437 virtual strangers chipped in over $40 million to jointly buy a rare copy of the US Constitution. They lost their bid but now has everyone asking: What is a DAO?
Acala, a decentralized finance (DeFi) platform built for the Polkadot ecosystem, this week won the first slot in the Polkadot parachain auction with over 32 million DOT (approximately US$1.3 billion) — the native cryptocurrency of Polkadot — contributed by over 81,000 stakeholders. Fast facts The highly-anticipated first Polkadot parachain auction saw a close fight between […]
Taproot unlocks Bitcoin opportunities meanwhile Mintable aims big
While fears of a complete ban on virtual currencies have been dispelled, Indian investors are still in the lurch about what may or may not be allowed.
Algorand (ALGO) — the native cryptocurrency of the Algorand blockchain — soared 50% from just under US$1.70 noon Asia time today to a new two-year high of US$2.66, according to CoinGecko data. But the surge was short-lived, with ALGO currently trading just under US$2 as of publishing time. Fast facts Algorand’s surge amidst the wider […]
Billions have been stolen through hacks from decentralized finance protocols, with Ethereum seeing the bulk of losses, according to a report by Elliptic.
How to sift through millions of NFTs before buying? NFT marketplace Mintable is hoping to attract more users with these new organizing and ranking features.
Bitcoin’s scarcity premium puts crypto into direct competition with gold and treasuries.
Seasoned investors are no strangers to the sometimes sudden and extreme ups and downs of the crypto market. Some cryptocurrency prices have been known to fluctuate 20% to 30% within a single trading day. What causes these wild price swings? What you will learn from watching this Forkast.News video: What drives cryptocurrency price movements? How […]
Central banks around the world are exploring digital currencies, writes Aymeric Salley of StraitsX. Here’s why Southeast Asia may be especially ripe for them.
While hopes of Robinhood listing Shiba Inu have been pumping the price of the asset for some time, it is AMC Theatres that will start accepting Shiba Inu for payments next year. Fast facts AMC Theatres, the largest movie theater chain in the U.S., will accept Shiba Inu as payment for movie tickets and concessions […]
Investment firm VanEck’s Bitcoin futures exchange-traded fund (XBTF) closed Tuesday 1.94% down in price to US$59.73 for its initial day of trading on the Chicago-based CBOE global exchange, according to MarketWatch’s data. Fast facts On Nov. 15, VanEck announced the launch of XBTF as the “lowest-cost Bitcoin-linked ETF” compared to its competitive rivals. The company […]
In a speech, Ethereum creator Vitalik Buterin notes the rise in cities experimenting with crypto, DAO and NFTs. What are the possibilities of blockchain cities?
The projects topped 300 rivals in their potential to improve the future digital Singapore dollar in payment services and financial inclusion. Who were the other winners?
Scams like the Squid Game Token rug pull are every investor’s nightmare. How to avoid hoaxes and not feel like a fool? Forkast.News explains.
Ethereum Layer 2 solutions — protocols built on top of the Ethereum blockchain that handle transactions off the Ethereum mainnet — have been on the rise as developers work on improving Ethereum’s scalability as its number of users and applications continue to grow. Polygon, a Layer 2 Ethereum scaling platform, today announced the launch of […]
While a significant legislative achievement for U.S. President Joe Biden, the US$1 trillion bipartisan infrastructure bill signed into law on Monday included provisions relating to cryptocurrency tax reporting requirements that has many in the industry nervous. Fast facts As Forkast.News previously reported, provisions were added to the bill as it was being drafted in August […]
As Circle expands into Asia as part of a global expansion plan, what does the investment in a yen-back stablecoin mean for the market?
Chinese police have busted yet another tele-fraud case related to e-CNY money laundering as the country continues to test the digital currency.
Cryptocurrency prices dropped again this morning Asia time, with Bitcoin and Ethereum trading 7% and 8% lower respectively in 24-hour trading, according to CoinGecko data. In the meanwhile, a new CoinShares report on institutional investing in cryptocurrency found record inflows year-to-date, suggesting that big investors overall are still bullish on crypto. Fast facts Bitcoin — the […]
A crypto investor in Hong Kong was rescued six days after being kidnapped earlier this month when he tried to meet a buyer offline who promised to purchase his Tether tokens.
The creator of the Mirror protocol and its CEO Do Kwon have little recourse but to comply with the SEC subpoena to produce documents and testify.
While Ethereum leads the market in smart contracts, Bitcoin’s Taproot upgrade could help the world’s oldest blockchain emerge as a future contender. Here’s why.
A recent survey in South Korea revealed a majority of its wealthier investors are not willing to make investments in virtual assets, due to concerns over experiencing losses. Fast facts KB Financial Group’s Korea Wealth Report 2021 surveyed 400 South Korean citizens with over 1 billion Korean won, or about US$847,816 in financial assets. Out […]
As central bank digital currencies begin picking up steam around the world, the Central Bank of Nigeria announced on Friday the digital wallet for its own digital currency, the eNaira, has been downloaded 488,000 times in 160 countries — in just 19 days after its launch. Fast facts According to local news reports, after President […]
The Algorand Foundation, a Singapore-based blockchain organization supporting the development of the Algorand ecosystem, has partnered with the Blockchain Association Singapore to drive the development of blockchain technology in Singapore and the wider Southeast Asia region. Fast facts In a memorandum of understanding signed on Nov. 12, the ecosystem partnership will see the Algorand Foundation […]
The religious body’s decision comes after the country saw crypto transaction growth earlier this year.
More than 100,000 consumers used China’s central bank digital currency (CBDC) to make some 240,000 purchases on China’s top e-commerce platform JD.com on the annual shopping festival Double 11 [11.11], according to the platform’s report. Yet that is likely only a fraction of total Nov. 11 digital sales. Fast facts Double11 refers to a Chinese […]
Solana Breakpoint 2021 celebrates price ATH, technology and projects to come on the emerging blockchain
Rounding out an impressive year for the world’s No. 5 blockchain, Solana held its first global offline conference in Lisbon this week. Here’s a look at some of the key moments.
Only two days after hinting via Twitter that leading social media platform Discord may support Ethereum, company co-founder and CEO Jason Citron has clarified the platform “has no current plans” to integrate the two. Fast facts Tweeting in response to the original post, Citron thanked community members for their perspectives and reiterated the firm is […]
Digital yuan use surges across China with 140 million wallets as officials deny timetable for launch
China’s soft rollout of the first major economy’s central bank digital currency (CBDC) continues apace. Yi Gang, governor of the People’s Bank of China, and Mu Changchun, director of the Digital Currency Research Institute of the bank, reported that the average weekly transaction volume of e-CNY is growing by 3 billion yuan (US$469 million) and […]
Ethereum’s sprawling Web 3.0 ecosystem — which includes the majority of the decentralized finance (DeFi), stablecoins, non-fungible tokens (NFTs) and blockchain gaming worlds — continues to expand and draw users, with 3.4 million Ethereum addresses interacting with DeFi protocols, according to ConsenSys’ Web 3 Q3 2021 report published this week. Led by Ethereum co-founder Joseph […]
Crypto surges on US inflation rise meanwhile, Korean investors win damages
As speculation continues over the fate of the Chinese property development giant, crypto markets were not spared the downturn over fears of its potential collapse.
Trying to move beyond XRP, Ripple hopes its customers will join RippleNet with a wallet that supports fiat and other cryptos like Bitcoin and Ether.
Circle, the digital payment company that operates the USD Coin (USDC) stablecoin, this week announced it is setting up a regional hub in Singapore and looking to partner with local businesses for its stablecoin Lighthouse Project. Fast facts U.S.-based Circle says its move into Singapore is part of its global expansion plans and the company […]
Panel explores sustainability issues surrounding the energy-intensive industry at Bitcoin & Beyond Virtual Summit.
Despite movement from both the ruling Democratic Party and the conservative party to delay the 20% virtual asset gains tax, South Korean finance minister still thinks it should start as planned for Jan. 1, 2022.
FTX founder and CEO Sam Bankman-Fried says building products that people want is what matters most, and the crypto industry and regulators will need to find compromises to resolve some of the industry’s pressing issues.
The Indian government is looking to introduce a cryptocurrency bill in the winter session of parliament in a bid to “fast track” regulation of a rapidly growing ecosystem, CNBC-TV18 reported. Fast facts India first drafted a bill to ban all cryptocurrencies in the budget session of 2021, but it was never tabled for discussions. Officials […]
Co-founder and CEO of popular social media platform Discord, Jason Citron, has hinted at integration with Ethereum via wallets such as MetaMask by tweeting a screenshot of Discord connecting to the world’s number two blockchain along with the caption “probably nothing.” Fast facts It came in response to another tweet by writer Packy McCormick, which […]
While El Salvador carved out its place in history as the first country in the world to adopt Bitcoin as legal tender, there are others that may follow for an array of reasons.
From China’s crackdowns to El Salvador’s Bitcoin adoption, where is the world headed in how governments regard crypto? An expert panel explores the future of decentralized finance in the global economy.
Apple CEO Tim Cook has revealed that he owns cryptocurrency during a discussion yesterday at the New York Times’ Dealbook conference, responding to a question as to whether he owned either Bitcoin or Ethereum. Fast facts While he did not reveal which cryptocurrencies he held, the tech boss said in an interview with Andrew Ross […]
The largest U.S.-based cryptocurrency exchange, Coinbase, earned just US$406 million net income in Q3 this year — a 74.7% decline over the previous quarter — according to the company’s investor earnings report released yesterday. Fast facts That figure represents a 500% increase over Q3 last year, but is significantly less than the US$1.6 billion in […]
Crypto is ‘a behavioral economics experiment,’ says Real Vision co-founder Raoul Pal. ‘Your incentive system is not a like button on Facebook, it’s money.’
After the SEC approved a Bitcoin futures ETF, the cost of crypto mining rigs jumped. Coincidence? Varit Bulakul of The Brooker Group explains.
Crypto market cap breaks US$3 trillion, also APAC crypto cards to launch
Speaking at the Singapore FinTech Festival, Ethereum’s creator discusses DeFi adoption and why he expects Ethereum’s ‘killer ecosystem’ to grow over the next few years.
Top blockchain and crypto news: Ethereum rises and rivals follow. Taxing times for US investors. New life for reborn crypto miner.
Speaking at the Singapore FinTech Festival, Singapore central bank chief Ravi Menon announces the launch of Project Orchid, a digital dollar project.
The Central American nation is the first to adopt Bitcoin as legal tender. As many countries face similar issues of large unbanked population and high remittance fees, will others follow suit?
New Jersey-based crypto banking services provider BlockFi and investment management firm Neuberger Berman jointly filed for a Bitcoin spot exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission on Tuesday. Fast facts In September, the U.S. got its first Bitcoin-linked ETF with the launch of ProShares Bitcoin Strategy Fund. But ProShares’ ETF was backed […]
Signaling increased confidence in the future of digital assets, cryptocurrency investment products saw institutional investment inflows of US$174 million last week — the 12th consecutive week of inflows — bringing year-to-date inflows to a record US$8.9 billion, according to digital assets manager CoinShares. Fast facts Institutional investment into crypto products have surged this year with […]
BTC and ETH are surging to dizzying new heights today as part of a broader crypto market rally. What’s going on?
Ethereum hits new all-time high meanwhile South Korea says NFTs not virtual assets
Ethereum reached a new all-time price high of US$4,766 earlier today, flying past its previous all-time high record of US$4,634 set five days ago, according to CoinGecko data. Fast facts The world’s second-largest cryptocurrency by market value has been on a record run since late last month. On Oct. 28, Ethereum’s price climbed to US$4,416 for the first time. The […]
Solana Ventures, Lightspeed Venture Partners and cryptocurrency exchange FTX today announced that they are partnering to invest US$100 million on gaming studios and projects building on the Solana blockchain. Fast facts “Gaming has a massive opportunity to bring the next billion users to Web3,” said Amy Wu, partner at Lightspeed Venture Partners, in a statement. […]
Canaan sues over patent infringement also, PayTM considers crypto services
As Solana surges to new all-time highs, 50 fintech experts surveyed by Finder offer predictions on SOL’s price outlook for the end of the year and longer-term.
22 private sector finance heavyweights together with the BIS and central banks of China, Hong Kong, Thailand, and UAE aim to achieve a production-ready international trade settlement platform using CBDCs.
Solana prices keep cresting to new heights, making SOL a top-five cryptocurrency by size. What makes Solana and its ecosystem stand out? Forkast.News explains.
Project Serum, a decentralized exchange on the Solana blockchain, has seen its total value locked (TVL) more than double over the past month to US$2.468 billion, according to data from a new Serum Markets Analytics dashboard launched today. Fast facts Solana — a high performance blockchain and alternative to Ethereum — has been gaining ground […]