September 2021
FTX CEO: This is the canary in China’s crypto ban coal mine
Amid China’s new clampdown, why is DeFi surging and the RMB-to-crypto market important? Sam Bankman-Fried analyzes what it all means and why FTX is leaving Hong Kong for a new home.
Ban or no ban, Indian crypto industry is thriving
India’s crypto industry will grow over 200% to reach $241M by 2030, a new study says.
China’s crypto ban: what you need to know
How is China’s latest clampdown on crypto different from its previous bans — and how do authorities plan to catch the scofflaws? Henri Arslanian of PwC breaks it down.
Crypto markets shrug off China’s latest saber-rattling
Is China’s influence over Bitcoin and the global crypto market waning? Chinese exchanges get a thrashing as decentralized exchanges get happy on clampdown news.
What does China’s crypto ban really mean? Insights from the ground
China’s hardline stance against crypto is already rippling beyond its borders. A mainland crypto insider explains the global shakeup yet to come.
D-day for Korean crypto exchanges; e-CNY project speeds up
D-day for Korean crypto exchanges meanwhile e-CNY project speeds up
Former US Treasury advisor predicts no ‘real action’ from Fed on CBDC
While a US digital dollar is stuck at pole position, China’s digital yuan is nearing the finish line. Michael B. Greenwald of Tiedemann Advisors explains why it matters to the future global economy.
Digital yuan could come to overseas users to challenge dollar dominance: policy bank expert
China may be a small step closer to internationalizing the yuan, though its central bank says the e-CNY is now mostly tested for domestic use.
VC names jump in on NFTs; Crypto investors brush off Evergrande
VC names jump in on NFTs meanwhile crypto investors brush off Evergrande
Bhutan to adopt Ripple’s XRP technology for CBDC pilot
Ripple’s win in Bhutan comes as it suffers a setback in a US court as judge rebuffs Ripple’s request for SEC’s internal trading decisions over XRP.
Crypto investors brush off Evergrande
The cryptocurrency market has rebounded in the past 24 hours as news broke that China Evergrande Group, the second largest property developer in the world’s most populous nation, has taken a step back from falling off a potential debt cliff today. Fast facts While the overall cryptocurrency market is still down for the week, all […]
India may not be ready to follow El Salvador’s lead, but don’t rule out cryptocurrency, finance minister says
Nirmala Sitharaman says ‘a futuristic thing can’t be shut out’ as the country considers crypto regulation, including a possible blanket ban.
Evergrande debt woes hit crypto; Mooncakes in the metaverse
Evergrande debt woes hit crypto meanwhile Mooncakes are in the metaverse
Banks blocking transactions? No problem. Indians find ways to continue trading crypto
As major banks distance themselves from crypto business, alternative trading methods like peer-to-peer transfers are gaining popularity among investors
Solana funds see institutional investment inflows despite recent network outage
Despite suffering a network outage due to a denial-of-service attack that took the Solana network offline for 17 hours on Sept. 14, Solana funds continued to see inflows of US$4.8 million last week, according to digital asset manager CoinShares. Fast facts “This suggests investors were happy to shrug-off the attack, seeing it as teething problems […]
Bitcoin mining rigs generate as much e-waste as the Netherlands
The amount of electronic waste generated by the Bitcoin network is comparable to the amount of discarded electronic equipment in a small country like the Netherlands, a study published by the academic journal Resource, Conservation and Recycling states. Fast facts According to the paper, a Bitcoin mining machine can lose 35% of its profit potential […]
Upbit passes Korea crypto race post; P2P transactions surge in India
Upbit passes Korea crypto race post meanwhile P2P transactions surge in India
Conflux, Shanghai Maritime partner on offshore RMB stablecoin in free trade zone
A focus of China’s free trade and shipping, Shanghai will explore in pilot project cross border trading with offshore renminbi stablecoin.
Boba network announces mainnet launch of layer 2 optimistic rollup
ETH 2.0 is expected to address transaction speeds and gas fees on the world’s number two blockchain, but a growing number of layer-2 protocols are looking to solve those issues today.
Cosmos price reaches for the stars as market remains firmly on the ground
As most of the crypto market stagnates, Cosmos has been on a tear over the weekend, gaining 35% since Saturday morning Asia time to reach an all-time high of US$44.54 this morning, according to CoinMarketCap.com. Fast facts Though it dropped slightly to US$41.72 just before press time, this jump marks the first time the ATOM […]
4 Chinese cities to compete for inclusion in e-CNY pilot programs
Four Chinese cities announced they will compete for inclusion in the next batch of digital renminbi pilot projects. They are Guangzhou, Tianjin, Yiwu and Fuzhou. Fast facts Guangzhou and Tianjin have written their goals into their city’s “14th Five-Year Financial Industry Reform Plan,” and Yiwu’s plan has been reported to the State Council. Guangzhou is […]
Black Friday for Korean exchanges; E-CNY launch in final stretch
Black Friday for Korean exchanges while E-CNY launch in final stretch
In crypto market, altcoins get a chance to shine
AVAX and SHIB outperform Bitcoin, which gained in price but shied from the $50K mark.
China’s e-CNY rollout enters ‘sprint stage’ for Beijing Winter Olympics
Digital yuan expected to undergo its first crucial international test despite concerns it can be used as a surveillance tool.
U.S. Treasury prepares to recommend stricter regulation on stablecoins
The U.S. Treasury is preparing a raft of recommendations for stricter oversight of Tether and other stablecoins, as unnamed insiders say the department has identified the greatest risks posed by the tokens, according to a recent Bloomberg report. Fast facts Making sure investors are able to transfer money in and out of tokens is a […]
El Salvador’s Bitcoin adoption, one week on
It’s hot on Bitcoin Beach and the Twitterverse, but the new legal tender doesn’t have uptake elsewhere in the Central American country.
Canaan reports record revenues; Korea says no to crypto tax delay
Canaan reports record revenues meanwhile Korea says no to crypto tax delay
Solana validators complete restart; Laos ends crypto ban
Solana validators complete restart also Laos ends crypto ban
Litecoin unloved at Walmart. Cardano’s Alonzo upgrade. China takes aim at NFTs.
Top blockchain and crypto news: Walmart dispels Litecoin hoax. Cardano’s real work begins. Beijing bears down on NFTs.
SEC chair says most cryptocurrencies including stablecoins are securities
In his testimony before the Senate Banking Committee, Gary Gensler, chairman of the U.S. Securities and Exchange Commission, said that Coinbase lists “dozens of tokens that may be securities.” Fast facts In response to Senator Pat Toomey’s questions about whether cryptocurrencies classify as securities, Gensler said “very many” of the cryptocurrencies, including stablecoins, are in […]
Solana crashes, SOL prices tumble as network scrambles to restart
SOL had been on a tear but is now losing ground. Is Solana a victim of its own success — or does the network have deeper problems?
Reserve Bank of Australia posts CBDC job position
Amid the country’s ongoing Senate inquiry into crypto regulation, the Reserve Bank of Australia has posted a job advertisement for a position within its central bank digital currency research team. Fast facts A successful applicant would join a new cross-disciplinary team to research “whether there is a case for a CBDC in Australia, and if […]
The world’s largest corporate Bitcoin holder goes even bigger
Software firm MicroStrategy, the world’s largest corporate Bitcoin holder, purchased an additional 5,050 Bitcoins for US$242.9 million at an average price of US$48,099 per Bitcoin. Fast facts Bitcoin was trading 3% lower on Monday, the day of the purchase, at around US$44, 800. The purchase puts MicroStrategy’s total Bitcoin holdings at 114,042 Bitcoins acquired for around […]
FTX hit by hack rumor; Korea updates crypto death note
FTX hit by hack rumor meanwhile Korea updates crypto death note
China’s e-CNY soft rollout continues, while Moody’s frowns at use of CBDCs in cross-border payments
A tourist spot in South China’s Hainan province to hand out digital yuan, while Shenzhen tests adoption for Hong Kong residents.
Walmart, FTX and Animoca Brands hit by crypto misinformation
Scams and fake news have long dogged the crypto world. This week saw two major blockchain companies and a global retailer get swept up by hack rumors or hoaxes.
Ernst & Young teams up with Polygon on Ethereum scaling
Ernst & Young, one of the Big Four consulting multinationals, announced today it has integrated India-based Polygon, a Layer 2 Ethereum scaling solution, to allow its corporate clients to process blockchain-based transactions on the Ethereum mainnet. Fast facts EY has connected the public Polygon commit chain with EY’s blockchain services including EY OpsChain and EY […]
Solana funds attract strong inflows of $50M despite crypto market correction last week
Institutional investors continued to buy into Solana investment products despite the market correction last week, according to a report by digital asset manager CoinShares. Fast facts Solana prices, which have soared by over 13,000% this year, reached an all-time high of US$213.47 on Sept. 9, according to CoinGecko data. Solana briefly overtook XRP to become […]
Altcoins have their day in the sun as market pulls back
A few altcoins managed to stand out coming into the working week as Solana’s tear comes to an end.
What are smart contracts and what are they used for?
In this Forkast.News explainer, learn why blockchains with smart contract capability are surging in popularity and the new darlings of investors.
What crypto can learn from Apple’s smooth interface to computing
Crypto in 2021 is like the early days of the internet, writes Hisham Khan of Aldrin. Here’s why the quality of user experience will decide the industry’s future.
Cardano smart contracts set for Sunday: CrossTower launches in India
Cardano smart contracts set for Sunday also CrossTower launches in India
Cardano set for Alonzo launch, smart contracts and NFTs to come
Cardano’s Alonzo hard fork will bring smart contracts and NFT support to the world’s third-largest blockchain. What will it mean for the crypto market?
What does El Salvador’s new Bitcoin law mean for crypto markets?
El Salvador’s Bitcoin embrace may be a domino for some emerging markets, but a fierce rival to the BTC is also coming to the fore.
Why Algorand’s price is on a two-year high right now
Algorand’s ALGO cryptocurrency prices have surged by 90% over the past seven days, crossing the US$2 mark and hit a two-year high of US$2.44 today, according to CoinGecko data. ALGO, ranked the 17th largest cryptocurrency by market value, has not seen such price heights since its launch in 2019. Fast facts Algorand is an open-source, […]
SEC pushes back on Ripple’s legal questions over XRP
Ripple wants to know how SEC regards Bitcoin, Ether and XRP, but SEC says Ripple is repeating the same questions as ‘they do not like the answers they received.’
Solana launches into sixth place as price tear continues
As most of the market saw a 10% to 15% dip in the past 48 hours, Solana (SOL) has defied that trend, crossing the US$200 mark for the first time and becoming the new sixth-largest coin by market cap a few hours ago, according to data from CoinMarketCap.com. Fast facts SOL was trading at US$205.27 […]
Bitcoin miner Blockstream partners with Macquarie for zero-carbon project
As the debate over cryptocurrency’s carbon footprint rages on, leading bitcoin miner Blockstream is developing new zero-carbon Bitcoin mining facilities in partnership with Australia-based financial services giant Macquarie Group, according to a company blog post. Fast facts The first pilot site will be in the U.S. where Blockstream will leverage Macquarie’s experience in green investments […]
El Salvador wowed the world by adopting Bitcoin as legal tender. Other countries are taking note
Following crypto’s adoption in one struggling economy, nations in Latin America and elsewhere are now weighing the pros and cons of digital currency
Polkadot’s decentralized identity project KILT wins Kusama parachain auction
KILT Protocol, an open-source blockchain protocol for issuing self-sovereign, anonymous and verifiable credentials, has won the sixth Kusama parachain auction and has launched its mainnet, the project announced yesterday. Kusama is Polkadot’s canary network for blockchain developers to build and test out their code as well as products and services. Fast facts KILT Protocol had […]
Bitcoin price plunges; Metaverse actions heats up in China
Bitcoin price plunges however Metaverse actions heats up in China
El Salvador’s big Bitcoin bet. Kim Kardashian, crypto flirt. Hong Kong’s crackdown warning.
Top blockchain and cryptocurrency news: El Salvador’s BTC experiment. EthereumMax and the power of celebrity. Hong Kong shores up regulatory oversight.
El Salvador ‘buys the dip’ as Bitcoin price tumbles one day after adoption
Just one day after El Salvador’s highly-anticipated adoption of Bitcoin as legal tender, the country’s recently acquired nest egg of 400 BTC lost roughly US$2.5 million in value as the entire crypto market saw a loss of 10% to 15% in 24 hours, according to CoinMarketCap.com Fast facts Bitcoin was trading around a four-month high […]
El Salvador today becomes first country to adopt Bitcoin as legal tender
The Central American nation opens up the next chapter in the history of the world’s biggest cryptocurrency.
Solana hits all time high: FTX’s NFT marketplace spammed
Solana hits all-time19 high as FTX’s NFT marketplace spammed
Digital-friendly services, products booming as China promotes e-CNY
In China, over 20 publicly listed companies have disclosed they are bringing to market e-CNY-related services and products, such as hardware wallets, a digital yuan payment system for schools, and a mobile phone SIM card that can pay for bike rentals with digital yuan at the tap of a phone, according to a report by […]
UK regulator slams Kim Kardashian for endorsing speculative token
Charles Randell, chairman of the U.K.’s Financial Conduct Authority and chair of the Payments Systems Regulator, singled out celebrity influencer Kim Kardashian in his latest speech for endorsing a relatively unknown and unregulated token. Fast facts In June, Kardashian endorsed EthereumMax, a project launched by unknown developers in May 2021. Kardashian, wife of rapper Kanye […]
Bitcoin sees first positive institutional inflows in 8 weeks; Bitcoin, Ethereum, Solana lead inflows
The institutional investment tide has turned for Bitcoin, which saw US$59 million in inflows last week, according to CoinShares, Europe’s largest digital assets fund manager. It was Bitcoin’s first inflows in eight weeks — signaling improving investor sentiment toward the world’s most popular cryptocurrency. Fast facts Digital asset investment products saw inflows of US$98 million […]
Solana price reaches new ATH; historic run goes on
Solana (SOL) is continuing to break new ground, gaining 22% in the past 24 hours to reach a new all-time high of US$177.95 at press time, according to data from CoinMarketCap.com. Fast facts It has been a historic run for the network, which rose 45% over the previous week to reach its previous all-time high […]
What is the outlook for a US central bank digital currency?
It’s hard to move forward on a CBDC when those in charge can’t agree. Is time running out for an American digital dollar?
SOL, DOT, ETH are the biggest movers in a week of continued price growth
The broader market recovery following the May crash continues with five of the top 10 coins by market cap showing double-digit growth over the past seven days, according to data from CoinMarketCap.com. Fast facts Continuing its historic run, Solana (SOL) showed the most movement, gaining over 45% this past week to hit a new all-time […]
Imagining a global digital wallet and the future it can hold
As governments and citizens embrace digital currencies of all kinds, from Bitcoin to CBDCs, here’s what the world and daily life could look like.
So, no ban? India’s crypto bill will treat virtual currencies as commodities in the asset class
The veil of uncertainty that has shrouded crypto regulatory discussions seems to be lifting, but how the government will regulate and tax digital money remains to be seen.
Deadline looms for Korean exchanges; Doge meme tokenization explodes
Deadline looms for Korean exchanges as Doge meme valuation explodes
Japan’s SBI Holdings announces plans to launch crypto fund by November
In another positive move for Japan’s crypto industry, financial services group SBI Holdings Inc. plans to launch a crypto fund in the country before the end of November, according to a report by Bloomberg. Fast facts Citing Tomoya Asakura, president of SBI affiliate Morningstar Japan K.K., Bloomberg reported the fund could grow to several hundred […]
Fractional ownership of the Doge meme hits $400M valuation
What does it mean to own an NFT? Furthermore, what does it mean to own a billionth of an NFT? For Doge lovers, it might be a good investment, or barking mad.
Ethereum dominance trends up while rivals Cardano and Solana hit all-time price highs
As Bitcoin continues to battle the $50,000 level, Ethereum rises in dominance while smart contract platforms Solana and Cardano buck the sideways trend to reach new price levels.
SEC wins access to Ripple’s Slack message for XRP lawsuit
Overruling Ripple’s objections over cost, a judge gives the SEC a green light to review more XRP-related Slack communications.
India crypto exchanges allow bank deposits; FTT token on a roll
India crypto exchanges allow bank deposits while FTT token on a roll
Eastern Europe is emerging as a hub for crypto scams: report
Eastern Europe is fast emerging as a crypto scamming hub. According to a Chainalysis report, crypto addresses based in Eastern Europe have the second-highest rate of links to illicit addresses, and the region ranks second in terms of the value of cryptocurrencies sent to illicit addresses. Fast facts Eastern Europe has a large cryptocurrency market […]
BIS Innovation Hub, 4 central banks in CBDC test for cross-border transactions
The Bank for International Settlements (BIS) Innovation Hub together with the central banks of Australia, Malaysia, Singapore and South Africa today announced they will be collaborating to test the use of central bank digital currencies (CBDCs) for international settlements. Fast facts According to a joint statement, the pilot is part of Project Dunbar, a wholesale […]
Jack Dorsey’s Bitcoin bourse. Are NFTs in bubble trouble? China banks on e-CNY.
Top blockchain and crypto news: Does TBD stand for Twitter Boss Decision? NFTs’ ballooning interest. How billions in e-yuan are coursing through China.