Cryptocurrencies

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 […]

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 […]

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% […]

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, meanwhile could blockchain an inflation hedge solution?

Chief business officer of the first SEC-registered digital security says crypto companies got caught with their hands in the cookie jar.

$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.

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 proposed rules for digital assets would ban cryptocurrency for payments while the Securities and Exchange Board regulates exchanges. Will it become law?

Investment banks’ hunger for a new revenue stream is likely to drive up the popularity and registration of crypto derivatives products.

The transaction, using the Hedera Consensus Service network, bypasses intermediaries, lowering fees.

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 […]

Banks releasing new stablecoin project meanwhile better watch for Fed taper in 2022

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 […]

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.

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 […]

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 IPO plans in choppy waters. Crypto markets crumble. Bitcoin mining power struggles.

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.

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.

South Korean game shares fell sharply, just a few weeks after announcements of new NFT metaverse ventures sent the shares up.

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 […]

‘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?

With suitable regulation in place, DeFi could yet play an important role in the financial system, BIS suggests.

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 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 […]

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, also Bitget reportedly suspended by MAS

Singapore-based crypto exchange had claimed the fan token would support BTS members — while the band’s agency denied any association with it.

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.

The SEC’s second rejection of a spot Bitcoin ETF again cited concerns about fraud and manipulation.

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 […]

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 […]

With economic security as a top priority, the Kishida administration anticipates the release of competing CBDCs.

Why the Federal Reserve and other major central banks are likely to speed up development of retail CBDCs.

Crypto resilient to Omicron meanwhile Japan speeds up on CBDC

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.

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 […]

Conversation between current and former SEC chairs at annual digital asset compliance summit focused on regulating crypto.

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, also K-pop bets on digital assets

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.

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?

The Cosmos ecosystem is expanding rapidly with inter-blockchain transfers on the rise. What makes Cosmos different from other blockchains? Forkast.News explains.

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 (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 […]

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 meanwhile Japanese novel released as NFT

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 […]

In the long run, the new rules may ‘lay the perfect foundation’ to improve risk management, says an ICBC expert.

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 […]

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 […]

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 […]

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, on the other hand Binance tweet gets yellow card

SafeMoon, known for high fees and social media hype, is now 85% below its all-time high. What lies in SafeMoon’s future?

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 […]

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 […]

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 […]

Tether, issuer of the world’s most popular stablecoin USDT, has responded in multiple tweets saying it will work with policymakers, after the U.S. Senate Banking Committee earlier this week sent letters to several stablecoin issuers — including Tether — to inquire about their operational features. Fast facts In the tweets, Tether said it appreciates the interest from […]

The U.S. Senate Banking Committee has sent letters to several stablecoin issuers to inquire about their operational features. Fast facts In a Monday tweet, Ron Hammond, director of government relations at the Blockchain Association, said the stablecoin issuers include Coinbase, Gemini, Circle, Paxos, TrustToken, Centre, Binance U.S. and Tether. “This is likely a sign of […]

Cardano ADA and Tron TRX will no longer be available to eToro’s US customers next year while CRO reflects Crypto.com ‘going from strength to strength.’

Arbitrum is leading the way in Ethereum scaling, according to a new report by Nansen, a blockchain analytics platform. What are the challenges that lie ahead?

Bitcoin and Ethereum prices fell nearly 24% in India as investors sought to get ahead of a possible crypto prohibition.

Shenzhen’s special zone for cooperating with Hong Kong, Qianhai District, will allocate 10 million yuan (US$1.57 million) to motivate enterprises to develop e-CNY-compatible businesses, especially in cross-border e-CNY and fintech labs. Fast facts The Qianhai Administration introduces the policies in a document released on Monday called “Interim Measures for Managing Special Funds for Supporting Financial […]

Top blockchain and crypto news: Fed nominations suggest no sudden moves. El Salvador’s Bitcoin lava affair. Dodgy dealings in China’s digital yuan.

Regal, a subsidiary of Cineworld Group, has partnered with digital payments network Flexa to allow customers to pay for movie tickets, popcorn and more with cryptocurrencies in its theaters. Fast facts The firm will accept cryptocurrencies including Bitcoin, Ethereum, Litecoin and Dogecoin, stablecoins such as Dai, USD Coin and Gemini Dollar, as well as digital […]

The decentralized autonomous organization (DAO) that formed to buy a rare copy of the U.S. Constitution will soon be shutting down after failing to win an auction for the document last week, despite raising over US$40 million in ETH to do so, as the Verge reports. Fast facts As Forkast.News reported last week, 17,437 members […]

The Australian Securities and Investments Commission (ASIC) has accused the owners of Gold Coast-based business A One Multi of scamming 92 investors out of AU$25 million (US$18 million) and are now in possession of a cold wallet believed to hold almost US$20 million in Bitcoin purchased with the defrauded funds, according to a report by […]

The Pacific island nation of Palau has partnered with San Francisco-based blockchain payments company Ripple on a U.S. dollar-backed digital currency for the country — the world’s first government-based national stablecoin — using the XRP Ledger, according to a Ripple announcement. Fast facts Ripple will provide Palau with technical, business, design and policy support for […]

The US Internal Revenue Service is taking a hard look at cryptocurrency transactions to crack down on tax dodgers. How can crypto holders protect themselves?

Neon, an Ethereum virtual machine on the Solana blockchain, today announced that it is integrating Aleph.im, a cross-blockchain computing network and decentralized indexing provider, for on-chain data on Solana — a first step towards bringing cross-chain decentralized finance (DeFi) between Ethereum and Solana. Fast facts Ethereum is currently the dominant blockchain for general-use smart contracts, […]