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Cryptocurrencies

1505 articles

May 2021

Crypto market rebound as investors go green; Indonesia plans CBDC | The Daily Forkast

Investors are turning to green alternatives to tackle Bitcoin’s impact on the environment as Indonesia gears up for a CBDC.

Polygon and Aleph.im partner to protect NFTs from disappearing

Fast-growing Ethereum scaling platform Polygon and decentralized storage network Aleph.im join forces to ‘supercharge’ Polygon’s NFT ecosystem.

Ripple partners with Oman’s Bank Dhofar for cross-border mobile payments

Ripple is partnering with Bank Dhofar, Oman’s second largest bank, to facilitate cross border mobile payments through RippleNet.

SpaceChain to send blockchain technology into orbit in Ethereum first

SpaceChain, a Singapore-based startup that focuses on the integration of blockchain with space technology, will be launching two missions to space next month to deploy decentralized satellite infrastructure and multi-signature services for its corporate customers.

Indonesia to launch digital rupiah as online payments soar

Indonesia is planning to launch a digital version of its national currency, central bank Governor Perry Warjiyo said on Tuesday.

Tether’s market cap tops US$60B despite crypto outflows

Despite recent outflows from crypto, U.S. dollar-linked stablecoin Tether (USDT) has surpassed US$60 billion for the first time this week.

DeFi has boosted challenger banks. Now it’s their customers’ turn

New and innovative lenders are taking advantage of DeFi’s low costs to offer savings account interest rates that Main Street banks simply can’t match.

China crypto crackdown fallout; Politician turns influencer in Korea | The Daily Forkast

China’s miners prepare for migration and Hong Kong reacts to possible retail ban. Meanwhile a South Korean governor becomes a crypto influencer.

Cardano sees US$10M inflows as big investors switch to proof-of-stake coins

Amid declines in Bitcoin and Ethereum, Cardano and its native cryptocurrency ADA saw US$10 million inflows as institutional investors switch to proof-of-stake coins.

China’s cryptocurrency mining sector becomes target of fresh clampdown 

Chinese authorities’ latest regulatory offensive against the crypto industry may not be as bad for the sector as it appears.

Marathon to host 73,000 Bitcoin miners in Texas as Chinese exodus looms

Marathon Digital Holdings has announced a deal with Compute North to host 73,000 of Marathon’s Bitcoin miners at a new data center in Texas.

Bitcoin rallies as Elon Musk meets with miners in green energy push

Bitcoin has rallied to nearly US$40,000, boosted by tweets from Tesla founder Elon Musk and MicroStrategy CEO Michael Saylor announcing that they have met with North American miners of the cryptocurrency to promote a renewable energy initiative.

What will happen if Hong Kong bans retail investors from trading crypto?

Hong Kong is poised to ban small investors from buying cryptocurrencies, while making exchanges get licences. Industry experts discuss how this might play out. 
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What is the outlook for Bitcoin and Ethereum for the rest of 2021?

The current dip aside, what are Bitcoin and Ethereum’s longer-term price forecasts? Finder’s brain trust of 35 crypto experts peers into a crystal ball.

Bitcoin dominance rises to 45% as altcoins crash over China crypto crackdown

As the crypto sell-off continued over the weekend, Bitcoin once again proved its resilience relative to other cryptocurrencies in not bleeding as much.

Bitcoin price plunges and altcoins sell-off as crypto market decline intensifies

Bitcoin and altcoin prices take heavy hits and sell-off deepens as more bad news, including a blatant DeFi exit scam, continue battering crypto markets.

Bybit crypto derivatives exchange launches cloud mining for Ether

Crypto exchange Bybit is launching cloud mining to provide exposure to Ether. What happens when Ethereum moves from proof of work to proof of stake?

South Korea forges ahead on its digital currency development

Kicking the digital won’s development into higher gear, Bank of Korea is calling for bids to be a technology supplier for its digital currency (CBDC) project.

Hong Kong to close crypto exchanges to all but ‘professional investors’

Cryptocurrency exchanges in Hong Kong will have to obtain licenses from the territory’s markets regulator and limit their service offerings to “professional investors”, according to the results of a consultation published today.

Crypto market rebound; Sotheby’s next NFT auction eyes millennials | The Daily Forkast

The crypto market has rebounded after one of its biggest crashes. Bitcoin is a ‘safe haven’ for many investors.

Solana gets Coinbase listing after SOL prices surge amid crypto market crash

Coinbase Pro adds Solana’s native token, opening the doors for US investors after SOL outperforms Bitcoin and most other cryptos amid market crash.

Singapore’s DBS Bank says no investment discussion can omit Bitcoin

Diversification to allocate funds to Bitcoin is an “opportunity that (fiat) money cannot buy”, says DBS Bank’s chief investment officer.

S. Korean crypto exchange Bithumb distances itself from scandal-hit ex-chairman

Bithumb, one of South Korea’s biggest cryptocurrency exchanges, is attempting to disassociate itself from its former chairman amid fears that its links to him may pose a threat to its license to operate.

Meitu, Chinese crypto-invested firms’ stock slammed by Bitcoin crash

Hong Kong-listed beauty app Meitu and other companies that have invested in cryptocurrencies have seen millions of dollars wiped off the value of their stock following the huge global Bitcoin sell-off this week.

US Treasury calls on firms to report to IRS on crypto transactions over US$10K

The U.S. Department of the Treasury is calling for business to report cryptocurrency transactions worth more than US$10,000 to the Internal Revenue Service.

Thailand’s The Brooker Group still bullish on crypto, planning US$3M investment in DeFi

The Booker Group announced that it now holds approximately US$35 million in crypto and plans to invest US$3 million into DeFi in Q2.

What’s really behind the Bitcoin market crash? Tether USDT lifts veil on reserves. Facebook-backed Diem going to California.

Other top blockchain and cryptocurrency news: BlockFi’s accidental BTC millionaires. China’s Inner Mongolia asks citizens to report illegal crypto mining.

South Korea switches course on crypto amid backlash over regulator’s remarks

Newly elected South Korean Prime Minister Kim Boo-kyum appears to be leading an embrace of the cryptocurrency sector among lawmakers.

Judge denies Ripple’s bid to bar SEC from seeking foreign info on XRP

In a win for the SEC, a judge knocks back Ripple’s request to stop the SEC from asking foreign regulators for info on Ripple and XRP transactions overseas.

Illegal crypto mining in Inner Mongolia’s crosshairs as reporting hotline set up

The Chinese region of Inner Mongolia is urging members of the public to report all cases of cryptocurrency mining, setting up a reporting hotline, an office address and an email address to solicit tips for law enforcement authorities.

China’s BIT Mining inks deal for U.S. data center joint venture

Chinese cryptocurrency miner BIT Mining has signed a deal to build a data center in Texas.

Rejecting traditional finance, some firms now turn to DeFi for growth capital

DeFi project Maple Finance is launching a $17 million lending pool to provide crypto startups with capital. Is this the start of a DeFi credit underwriting trend?

Bitcoin appears to stabilize after dramatic correction

The world’s biggest cryptocurrency may have found a new trading range after being battered yesterday following an apparent Chinese clampdown on cryptos, partly reversing losses of around 30% seen when investors dumped their coins on Wednesday.

Digital dollar’s values to fortify USD hegemony, says ex-CFTC chair

Former CFTC chairman Chris Giancarlo and Accenture’s David Treat are not in a CBDC race, but a ‘contest’ to develop money that reflects societal values.

Bitcoin drops below US$40,000; China sends another crypto warning | The Daily Forkast

China’s newest warning against crypto sends market into nosedive and Bitcoin dips below US$40,000 for the first time since February.

Bitcoin’s rollercoaster ride leaves market players unfazed as upside beckons

Professional crypto traders appear to be taking the recent plunge in the price of Bitcoin in their stride as they look ahead to an upswing in the cryptocurrency’s fortunes.

Bitcoin long positions worth $1.5 billion liquidated amid crypto crash

Around US$1.5 billion of Bitcoin long positions were liquidated today across some of the world’s top crypto exchanges, including Binance and FTX, according to Bybt data.

Australia seeks fresh submissions on cryptocurrency rules

In a paper released today by a Senate committee, the Australian government announced it is seeking help in establishing a crypto regulatory framework.

XRP whale moves coins worth US$93M to unknown wallet, price dips

XRP’s price has slumped almost 7% in the past 24 hours after a so-called whale transferred US$93 million of the cryptocurrency to an unknown wallet on May 18, according to blockchain analytics platform WhaleAlert.

China-based SOS announces activation of 6,039 mining rigs for ETH, BTC

Qingdao-headquartered tech company SOS Ltd. has announced the launch of more than 6,000 ETH and BCT mining rigs, claiming 90% renewable energy sources.

China’s new crypto ban shouldn’t stoke fear, says Conflux network co-founder

Fan Long, a co-founder of Chinese public blockchain network Conflux, says China’s latest broadside against the use of cryptocurrencies in the financial sector should not be interpreted as a sign that Beijing is intent on shutting down digital currencies.

Riot Blockchain’s Bitcoin mining revenue soars 881% to US$23.2M

American Bitcoin miner Riot Blockchain’s mining revenue skyrocketed almost tenfold to US$23.2 million in the first quarter of 2021, according to a U.S. Securities and Exchange Commission filing.

China shuts banks, finance firms out of cryptocurrency business

China has slapped a ban on finance sector businesses, including payment firms, from offering cryptocurrency services.

Will Singapore launch a people’s digital currency — and support DeFi?

As Singapore builds Project Dunbar, a cross-border multiple-CBDC platform, its government dives into DeFi learning and ponders a CBDC for the masses.

What is Polkadot and why is it one of the hottest blockchains right now?

The final phase of Polkadot’s rollout — with parachains — just kicked off. Here’s what you need to know about Polkadot and parachains, and why it matters.

UAE study shows growing appetite for cryptocurrencies

The appetite in the United Arab Emirates for cryptocurrency investment is growing, with younger Emiratis more bullish about digital assets than their Western counterparts, according to a study by financial services firm Holborn Assets.

SEC and XRP holders face off anew over SEC’s lawsuit against Ripple

In a new court filing, SEC tries to keep out 6 representatives of 17,100 XRP holders from joining as 3rd party defendants in the SEC’s lawsuit against Ripple.

New coin launch seeks to curb Elon Musk’s influence over crypto markets

A group of cryptocurrency developers has launched a new coin named $STOPELON, aiming to limit Elon Musk’s influence over the cryptocurrency market.

Elon Musk slips down rich list as Tesla’s stock loses shine

Tesla founder Elon Musk has lost his position as the world’s second-richest person following a 2.2% decline in the electric carmaker’s share price.

Ripple seeks to protect legal advice on XRP from disclosure to SEC

Ripple rebuts SEC’s attempt to obtain Ripple’s confidential communications with lawyers over XRP’s legal status and seeks to bolster ‘fair notice’ defense.

‘Fear’ gets the best of Bitcoin; ‘Charlie Bit Me’ is now an NFT | The Daily Forkast

FUD has taken over Bitcoin’s FOMO sentiment as iconic YouTube video ‘Charlie Bit Me’ gets immortalized as an NFT.

Led by Cardano ADA, green cryptos rise as Bitcoin, wider market sinks

ADA price holds strong as investors shift to greener cryptocurrencies and Cardano smart contracts get set to launch blockchain into DeFi and NFTs.

New York’s Bitcoin mining showdown sets stage for battles elsewhere

A dispute over a Bitcoin mine’s environmental impact leads to a push to ban crypto mines in New York state. Will other places follow Albany’s lead?

India’s demand for crypto ‘growing like crazy’ since ban attempt

It’s only a matter of time that digital currency ‘is going to overshadow all the other forms of money,’ says Neeraj Khandelwal of CoinDCX.

S. Korea facing backlash for banning police from owning crypto

To improve public trust, South Korea is barring police officers from buying cryptocurrency. Could this presage a broader clampdown on crypto in the country?

Binance under fire; Internet giant Naver takes on South Korea’s CBDC | The Daily Forkast

The Asian crypto industry reacts to the US Department of Justice and Internal Revenue Service money laundering probe into Binance. In South Korea, the nation’s largest internet company plans to join Bank of Korea’s CBDC ventures. Over in Singapore, Southeast Asia’s largest lender DBS Bank expands its crypto services for its private bank clients by […]

DBS Bank rolls out crypto estate planning for the ultra-rich

What will happen to your Bitcoin keys and crypto wallets when you die? Southeast Asia’s largest bank will now take care of it all for the super wealthy.

Self-styled Bitcoin ‘creator’ files $5.6B claim in UK court

An Australian computer scientist has become the latest person to claim to have developed Bitcoin, an assertion he hopes might bring him a £4 billion (US$5.6 billion) windfall. Craig Wright, who claims to have invented Bitcoin, and the identity behind the Satoshi Nakamoto pseudonym, has filed a lawsuit in a UK court to retrieve a […]

DBS Private Bank launches crypto trust offering

Singapore’s DBS Private Bank has announced the launch of Asia’s first bank-backed trust offering for cryptocurrencies. The service, operated via the lender’s wholly-owned licensed trust subsidiary, DBS Trustee, allows clients to invest, custodize and manage their digital assets. The service will handle only those cryptocurrencies hosted on the DBS Digital Exchange — Bitcoin, Ether, Bitcoin […]

China’s miners on Tesla’s Bitcoin 180; Animoca Brands — a star is born | The Daily Forkast

Asia’s crypto industry reacts to Tesla backtracking Bitcoin payments, while Animoca Brands raises US$88,888,888 in a new funding round.

Crypto markets crash as Tesla stops taking Bitcoin for payments

Elon Musk drops ‘fossil fuel’ Twitter bomb on Bitcoin, triggering a BTC price crash and dragging down Ethereum, Dogecoin and Shiba Inu.

US dollar dominance waning as CBDCs enter global spotlight

Global US dollar reserves touched a 25-year low in Q4 2020, according to a new IMF report. Will a digital euro and e-RMB muscle in?

ICP takes crypto world by storm. Will Ethereum be the next Bitcoin? Goldman Sachs launches crypto trading desk.

Other top blockchain and cryptocurrency news: How Dogecoin copycat SHIB coin vaulted into crypto’s top 20. China unveils fingerprint ID for digital yuan.

SHIBA INU trends in Chinese social media; Indonesia mulls crypto tax | The Daily Forkast

Shiba Inu is the new “Doge killer” and Chinese investors “can’t get enough” of it, says Gate.io, as #SHIB trends in Weibo.

Ethereum market cap now half trillion dollars as Ether price hits ATH of $4,360

Ethereum prices rally to new all-time high as Bitcoin’s dominance keeps sliding. Is Ethereum’s upcoming EIP 1559 upgrade boosting its value proposition?

What is the real value of joke coins like Dogecoin and SHIB?

Crypto veterans are appalled by the sudden popularity of $hitcoins like DOGE and SHIB. But others say memecoins are making investing more accessible.

China’s new digital yuan wallet with fingerprint ID causes privacy worries

Chutian Dragon and IDEX Biometrics offer DCEP digital currency wallets with fingerprint recognition. The companies say the feature enhances security.

SNL lights too bright for Dogecoin; ESG investments join crypto | The Daily Forkast

Dogecoin is on its weekend hangover as trading volumes in India’s WazirX for DOGE reaches new heights. Meanwhile, ESG investments tackle crypto.

SEC demands Ripple reveal legal advice Ripple received on XRP

In the latest volley in SEC v. Ripple Labs, the SEC contends that Ripple has waived its attorney-client privilege over legal advice on XRP’s status.

Ethereum prices break $4,000 for first time—what’s driving ETH’s surge?

Is it all those new Ethereum ETFs, rising demand for Ethereum from DeFi and NFTs, or lower gas fees fueling ETH’s price jump to yet another all-time high?

New Asian investment portfolio offers exposure to Canada’s Bitcoin ETFs

Aqumon’s SmartGlobalC aims to meet the rapidly growing demand for Bitcoin exposure for traditional investment portfolios in Asia.

BCH gets the nod from Japan; Digital yuan travels to the countryside | The Daily Forkast

While Bitcoin Cash surges, we visit a Japanese coffee shop owner who just started accepting BCH as payment.