Cryptocurrencies

Bitcoin hits all-time high, also Lotte World opens in metaverse

Despite its legal troubles in the U.S., San Francisco-based blockchain payments company Ripple has been pushing ahead to bring faster and cheaper cross-border payments using XRP in Asia and the Middle East. Fast facts Ripple and Tranglo, a Malaysia-based cross-border payments provider, today announced that Tranglo has launched its first live On-Demand Liquidity (ODL) service […]

When the world’s largest cryptocurrency last reached a price high, China had yet to crack down on crypto mining, and there was no U.S. Bitcoin futures ETF. What do changing market conditions mean for the growth of Bitcoin and the crypto industry?

Electric carmaker Tesla Motors, Inc. (TSLA) on Wednesday reported that its third-quarter revenue surged 57% to US$13.76 billion from US$8.77 billion last year, and a net income of US$1.62 billion for the quarter. However, the company’s digital assets were hit by a Bitcoin-related impairment of US$51 million, down to US$1.26 billion in digital assets from […]

In a special Q&A, CEO Louis Liu describes the hoops FOMO Pay jumped through to win Singapore’s first crypto license and calls its regulator a ‘collaborator.’

Bitcoin set another record as it traded above US$67,000 Wednesday, one day after ProShares’ first-day trading volume reached nearly US$1 billion

On the morning after the successful debut of the first U.S.-approved Bitcoin futures exchange-traded fund, Bitcoin’s price surpassed $65,000, reaching an all-time high. Fast facts On Wednesday, Bitcoin reached a high of US$67,276.79, according to Coingecko. Bitcoin’s previous peak was US$64,804.72 on April 14, 2021. The first U.S. Bitcoin-futures exchange-traded fund, ProShares Bitcoin Strategy ETF, […]

Bitcoin inches toward all-time-high on the back of the first Bitcoin futures ETF in the U.S.

Top blockchain and cryptocurrency news: Bitcoin grows up. Facebook’s metaverse journey. China’s crypto investors find a workaround.

Bitcoin miners saw another mining difficulty adjustment on Tuesday, with an increase of 0.95%, according to data from BTC.com. Fast facts The mining difficulty level is now at 20.08 trillion at block height 705,600, reflecting the most difficult level since a previous adjustment on May 30, the data show. The latest adjustment follows six increases after four consecutive […]

Money, culture and community are now converging in NFTs and the token economy, writes Lily Z. King. Welcome to a new world where ‘money Lego’ meets ‘culture Lego.’

More than one-third — or 37% — of Singapore residents are already using or are interested in using cryptocurrencies to pay for purchases, according to the latest research from Worldpay from FIS, a payment platform. But nearly half — or 47% — of Singaporean respondents said that they were not interested in using cryptocurrencies for payments. […]

Chinese find ways around crypto ban meanwhile ANZ settles debanking case

JD.com, an online retailing platform ranked by trading volume as No. 1 in China and No. 13 globally by Deloitte, said it will accept electronic yuan (e-CNY) payments during the upcoming Double 11 shopping festival and will issue digital yuan coupons during the event. Fast facts The Double 11 shopping festival refers to a Chinese […]

New York state Attorney General Letitia James has ordered two “unregistered crypto lending platforms” — one of which has appeared to be Nexo — to cease operations in New York, and requested another three platforms to provide information about their activities. Fast facts James said in a press release published on Monday: “Cryptocurrency platforms must […]

Some are registering companies overseas, via — you guessed it — Taobao vendors.

As the price of Bitcoin hovers just under its all-time high, a report released today by Australia-based comparison site Finder.com is predicting that the world’s largest cryptocurrency will peak at US$80,021 later in 2021 before ending the year slightly lower at US$71,415. Fast facts Bitcoin was trading at US$62,294 at publishing time, just below its […]

Singapore is a major crypto hub. But for whom? In this primer, Malcolm Tan explains the island-state’s regulatory evolution and which groups are no longer in its favor.

Estonia revoked more than 70% of all crypto licenses last year. Its recently appointed anti-money-laundering chief wants to nullify the rest.

As excitement grew over the imminent approval of Bitcoin futures exchange traded funds (ETFs) in the United States, Bitcoin investment products saw inflows of US$70 million last week — the fifth consecutive week of inflows — while Ethereum saw outflows of US$1 million, according to digital assets manager CoinShares. Fast facts According to CoinShares, the total […]

The first US Bitcoin futures EFT is set to begin trading today. Will this exchange-traded fund bring Bitcoin closer to the masses?

Bitcoin nears all time high also HK exhibition showcases NFTs for good

Tether, the issuer of the world’s most popular stablecoin USDT, has been fined US$41 million by the U.S. Commodity Futures Trading Commission (CFTC) over “untrue or misleading” claims that its USDT stablecoin was fully backed by corresponding fiat currencies. Fast facts The CFTC said in a Friday statement that from at least June 1, 2016 to […]

U.S.-based Bakkt, a cryptocurrency custodian and trading platform, went public Monday on the New York Stock Exchange after an announcement by Intercontinental Exchange, or ICE, which owns Bakkt and the NYSE. Fast facts Unlike its competitor Coinbase, which chose a direct listing on Nasdaq, Bakkt is going public by merging with a special-purpose acquisition company, […]

Traditional finance evolved over centuries while DeFi is coming into its own in a few years, writes Adi Ben-Ari of Applied Blockchain. Are its risks inevitable?

The U.S. could see a long-awaited Bitcoin futures ETF trading on the New York Stock Exchange and the Nasdaq in the next few days. Forkast.News spoke with market watchers to find out what it means for the industry.

South Korean presidential hopefuls lean towards delaying crypto tax to impress younger voters.

As luxury brands eye the virtual realm, Zilliqa co-founder Max Kantelia looks forward to a convergence of desirable objects and digital opportunities.

But Ripple says its 5,000 pages of requests for admission to SEC are reasonable and could cut down on trial time.

The soft rollout of the electronic Chinese yuan (e-CNY) continues across China in advance of its expected formal launch in time for the Beijing Winter Olympics in February. In the latest sign, Beijing Capital International Airport has become the first airport in the country to support payment by the central bank digital currency (CBDC), which […]

Ripple, a San Francisco-based blockchain payments company, has joined the Digital Pound Foundation, a non-profit organization supporting the implementation of a digital pound in the United Kingdom, according to a Ripple blog post. Fast facts As a foundation member, Ripple will be represented on the board by Susan Friedman, Ripple’s head of policy. Other foundation […]

East Asia’s share of global cryptocurrency transactions plunged to 14% in June 2021 from 31% in April 2019 when it was by far the world’s largest crypto economy, according to blockchain data provider Chainalysis’ 2021 Eastern Asia Report published today. Fast facts China’s crypto crackdown in May saw East Asia — with China the biggest […]

Nervos, a public blockchain backed by China Merchants Bank International and Sequoia China, today announced the mainnet launch of its cross-chain “Force Bridge,” according to a company statement shared with Forkast.News. Fast facts The Force Bridge enables cross-chain transactions between Nervos and Ethereum, with support for ETH and whitelisted ERC-20 tokens, including Dai (DAI), Tether […]

In this special Q&A, industry leaders tell Forkast.News why global stablecoin regulations can help catalyze crypto adoption.

Hot on the heels of a similar exchange-traded fund being approved in the U.S., the Australian Securities Exchange is close to launching the “BetaShares Crypto Innovators ETF,” which will grant exposure to global companies working in the digital asset space, according to the Financial Review. Fast facts Using the ticker “CRYP,” the ETF aims to […]

In spite of ongoing regulatory issues, cryptocurrency lender Celsius Network has raised US$400 million in an investment round pegging the valuation of the company at US$3 billion. Fast facts The funding was led by U.S. growth equity firm WestCap and Caisse de dépôt et placement du Québec (CDPQ), a global investment group.  Celsius will use the funds to […]

Top blockchain and crypto news: Big money heads for Bitcoin. How fishy are Squid Game NFTs? China mothballs mining.

Coinbase and Binance move to diversify meanwhile Stablecoins under scrutiny

Squid game NFTs traded on Opensea, also Bitcoin on a roll

Crypto market watchers tell Forkast.News what’s behind Bitcoin’s latest resurgence and predict Bitcoin’s price heading into Q4 2021.

The Postal Savings Bank of China has become one of the appointed research and development institutions for the electronic Chinese yuan (e-CNY), allowing the bank to hold a first-mover advantage in the competition for position in China’s electronic payments market, its owner, the state-owned China Post Group, said in an article. Fast facts The bank […]

Stacks surges after NFT push while Samsung Next invests in Sky Mavis

While most of the market was down around 5% coming into the Asia trading day this morning, altcoin Stacks was up over 70% in 24 hours on Sunday night, according to data from CoinMarketCap, hitting a high of US$2.45 — the highest point the token had reached since the market-wide crash in May. The price has fallen […]

As international regulators seek to implement oversight, crypto industry players say it is a positive sign that regulators are now considering including stablecoins in banking regulations.

According to a Shenzhen state-owned newspaper, Shenzhen now has nearly 120,000 e-CNY pilot program application scenarios, ranking first in the country. Fast facts In October last year, Hong Kong’s neighboring city, Shenzhen, became the first e-CNY pilot city, which rolled out the first batch of 50,000 e-CNY red packets with a total value of 10 […]

Australians are now able to buy a house using cryptocurrency, as Lloyds Auctions Australia has announced it is accepting Bitcoin for purchases of real estate in online auctions, according to a press release shared with Forkast.News. Fast facts While Covid lockdowns impacted how in-person real estate auctions could take place in Australia, Lloyds began looking […]

Tether fires back while Easy Crypto closes Series A funding round

Editor’s Note On October 8, 2021, a Forkast.News article was published with the inaccurate SEO headline “Bitcoin Futures ETF Approved By SEC.” One of our readers rightfully identified this mistake. We have made the correction, and we apologize. Serving the community is our top priority, and Forkast.News would like to thank @scottmelker for bringing it […]

Tether is facing another round of scrutiny as the world’s number one stablecoin responds to a damning Bloomberg report published yesterday that claimed — among other things — that Tether is not fully backed as the company claims and is using its reserves to make crypto-backed loans. Fast facts In the article, reporter Zeke Faux […]

Ukrainian President Volodymyr Zelenskyy returned a cryptocurrency bill to Parliament for revision on Tuesday, demanding the National Securities and Stock Market Commission of Ukraine be designated the country’s main crypto regulator. Fast facts The crypto bill had passed the second parliamentary hearing on September 8. Had Zelenskyy signed the bill, it would have made the country the fifth […]

  Jerome Powell’s remarks on Sept. 30 following his testimony about the financial hardships of the pandemic caught the attention of crypto enthusiasts. Taking questions from the House Committee on Financial Services, Chairman Powell said the Federal Reserve would not seek a ban on crypto but reiterated that stablecoins should be regulated.  Bitcoin jumped by […]

Coinswitch Kuber becomes unicorn meanwhile Australians reminded over crypto tax

A US court has denied XRP holders’ bid to join the SEC v. Ripple lawsuit as third-party defendants, but XRP advocates say being ‘amici curiae’ is still a win.

Outstripping the explosive growth of Dogecoin in the past week, copycat memecoin SHIB was up over 300% over the past four days this morning, briefly reaching a five-month high of US$0.00003436, according to CoinGecko. Fast facts Trading at US$0.00003079 at press time, this marks the second massive jump in the Shiba Inu coin’s price since […]

Kazakhstan blames its newly settled crypto miners for power shortages as South Korea’s largest exchange is accused of listing faulty tokens for profits.

Brazil’s legislators are expected to discuss in the next few days a bill that seeks to establish a regulatory framework for cryptocurrencies, which may be a major step toward making Bitcoin a legal “payment currency” in the country if approved by the congress. Fast facts Bill 2.303/15, proposed by Federal Deputy Aureo Ribeiro, aims to […]

Bitcoin miners saw another mining difficulty adjustment on Tuesday, with an increase of 4.71%, according to data from BTC.com. Fast facts The mining difficulty level is now at 19.89 trillion at block height 703,584, reflecting the most difficult level since a previous adjustment on June 14, the data show. The latest increase follows five increases after four […]

This is the second time the world’s largest cryptocurrency has hit the mark in recent months. Does that mean this price point is here to stay?

U.S. Bank, the country’s fifth-largest retail bank, will now offer custody services for cryptocurrencies, starting with Bitcoin, the bank announced on Tuesday. New York Digital Investment Group, a fintech firm dedicated to Bitcoin, is the first crypto sub-custodian in the bank’s network of providers, the statement said. Fast facts The services are geared toward institutional […]

The Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) today published a joint report proposing that international standards for payment, clearing and settlement systems should be applied to “systemically important stablecoin arrangements.” Fast facts The BIS, CPMI and IOSCO report comes amid the […]

What does it mean to provide ‘institutional’ crypto services, and what role does blockchain technology play? Robert Cooper of Digivault explains.

Korea crypto tax pause called for meanwhile Tiktok jumps into NFTs

Crypto investors say virtual asset gains will be taxed on uneven grounds compared to stock capital gains.

Hong Kong, a hotbed for crypto startups and exchanges, is at a crossroads, writes Jeremy Ng of Gemini. Here’s how the industry can better secure its future.

Bitcoin investment products saw inflows of US$69 million last week amid improving investor sentiment, according to digital assets fund manager CoinShares. Fast facts “We believe this decisive turnaround in sentiment is due to growing confidence in the asset class amongst investors and more accommodative statements from the U.S. Securities [and] Exchange Commission and the Federal […]

Laos enlisted Soramitsu, a blockchain company headquartered in Tokyo, Japan, to explore a central-bank backed digital currency (CBDC). The Lao Central Bank and Soramitsu’s research will begin as early as this month. Fast facts The Central Bank of Laos reportedly has recently signed a memorandum with the Japan International Cooperation Agency to discuss the development […]

The Hong Kong Monetary Authority (HKMA) on Monday released a white paper proposing potential technical architecture and design for the infrastructure of a digital Hong Kong dollar. The paper is one of the deliverables described in Project e-HKD, a feasibility study the HKMA announced in June 2021. Fast facts Hong Kong began its exploration of […]

China’s telecom giants to bring digital yuan transactions to mobile chatting boxes.

In a special Q&A, a Canadian law advisor who works with Chinese clients breaks down the ban’s potential legal boundaries and concerns held by overseas Chinese.

Chinese communications giant China Mobile and Industrial and Commercial Bank of China jointly released an e-CNY wallet based on the upgraded SMS service Message over 5G. The wallet allows users to transfer money, check balances, pay bills, and perform other functions through the chat window. Fast facts Message over 5G is an upgraded text message […]

The country sees a rise in the amount of illegal currency transactions across the border while the use of virtual assets makes it almost impossible to track down.

Stablecoins combine the portability of crypto with the price stability of fiat currencies. But are they all that stable?