Forkast.News is now Forkast Labs

July 2023

Tourists from Mainland China can now shop in Hong Kong with Chinese CBDC

Mainland tourists can now shop in Hong Kong with Chinese CBDC, as part of a digital yuan shopping festival launched this week by the Bank of China (Hong Kong).

Can Web3 bring morality and social good to the metaverse?

The value of crypto is typically tied to its correlation with fiat money. What if tokens can be earned only through good deeds and helping others?

Bitcoin price falls, heads for weekly loss; Ether flat, Matic leads gainers, Solana the losers

Bitcoin fell on Friday morning in Asia as other top 10 cryptocurrencies traded mixed. Bitcoin again slipped below support at US$30,000.

XRP triumphs over SEC, but crypto clarity remains in the shadows

Top blockchain and crypto news: Ripple not clear of hurdles | NFTs in historically slow period | Hong Kong banks dither

Bitcoin, Ether inch above key levels; Matic leads gainers

Bitcoin and Ether both recaptured key support levels. Institutional interest remains upbeat following a slew of Bitcoin exchange-traded fund (ETF) applications, industry experts told Forkast.

Bitcoin, Ether trade flat as buzz around Bitcoin ETFs and Ripple court ruling fades

Bitcoin edged higher on Thursday morning, along with most other top 10 cryptocurrencies, but the token looks to have lost support at the US$30,000 line.

National Australia Bank to block some crypto exchanges

NAB, one of Australia’s “big four” banks, announced it is taking action to block some payments to “high-risk” cryptocurrency exchanges, as part of its new measures aimed at protecting customers from scams.

Bitcoin returns above key level, Ether inches up, XRP leads top 10 cryptos in gains

Bitcoin and Ether rose during Wednesday afternoon trading in Hong Kong, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization.

Chinese police uncover $54 million USDT money laundering scheme

Police in China’s Shanxi Province made 21 arrests in relation to an alleged USDT money laundering scheme amounting to over US$54 million.

Bitcoin loses grip on US$30,000 as profit-taking kicks in; XRP gains as other top 10 crypto fall

Bitcoin slipped under US$30,000 on the back of profit-taking and long liquidations as the recent run up on optimism about exchange-traded funds seemed to run out of steam.

S. Korea’s Shinhan Bank, SCB TechX, complete second stablecoin trial on Hedera

Shinhan Bank, the second largest bank in South Korea, and SCB TechX, the technology unit of Siam Commercial Bank, the oldest bank in Thailand, announced on Tuesday that they completed a second stablecoin transaction trial on the Hedera, a public distributed ledger network. 

Bitcoin, Ether, top 10 cryptos fall; SEC accepts Valkyrie’s spot Bitcoin ETF for review

Bitcoin and Ether both fell below key price levels earlier but returned above as investors remained optimistic after the U.S. Securities and Exchange Commission (SEC) accepted the second Bitcoin exchange-traded fund (ETF) application for review, from asset manager Valkyrie.

Stablecoins can make banking safe again: Opinion

Stablecoins play a pivotal role as a safe-haven medium of exchange in times of high inflation, writes James Glasscock. But they’re not without risks.

Bitcoin dips but recovers back above US$30,000; Ether, most other top 10 crypto lose ground

Bitcoin dipped under US$30,000 in early Asia trade before recovering. Ether and other top 10 cryptocurrencies fell, while NFT trading slumped.

Financial Stability Board recommends stricter global crypto regulation after year of industry blow-ups

The Financial Stability Board (FSB) published on Monday a global regulatory framework for crypto-asset activities to provide a global regulatory and supervisory foundation for crypto. The recommendations made to the G20 – the 20 leading economies of the world – are based upon the principle of “same activity, same risk, same regulation.”

Bitcoin, Ether slip, top cryptos mixed, XRP biggest gainer after last week’s court win

XRP continued its rally after XRP issuer Ripple’s favorable ruling last week in its lawsuit with the U.S. Securities and Exchange Commission (SEC).

SEC accepts BlackRock’s Bitcoin ETF application for review

The U.S. SEC has accepted BlackRock’s application for a spot Bitcoin ETF, a major step for the potential launch of the country’s first spot Bitcoin ETF.

Bitcoin dips over weekend, other top 10 cryptos mixed; US stock futures edge down

Bitcoin rose to trade at over US$30,300 on Monday morning in Asia, but the price fell over the weekend to around the pre-Ripple ruling level.

USDT’s goal is to be the dollar, not beat it, says Tether CTO

Scrutiny on the stablecoin’s reserves has intensified since USDT’s latest depegging scare. Paolo Ardoino, CTO of Tether and Bitfinex, delves into the composition of USDT reserves, explaining how the firm ensures dollar redemptions, irrespective of secondary market prices.

Weekly Market Wrap: Bitcoin rises past US$31,000, cryptos rally after Ripple’s win against U.S. SEC

Bitcoin rose to US$31,736 on Friday, bolstering Ethereum to above US$2,000, after the court ruled that the sale of XRP did not constitute a security. Bitcoin needs a close above US$31,000 to pave the way for US$32,500, market experts told Forkast.

XRP’s partial victory as Russia inches toward CBDC; Arkham draws flak

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Bitcoin, Ether surge after Ripple notched partial win against SEC; Ripple’s XRP leads crypto rally 

Bitcoin, all other top 10 non-stablecoin tokens logged gains Friday morning. That followed a favorable SEC ruling for Ripple, whose XRP token led the gains.

Europe’s first spot Bitcoin ETF set to launch in July: FT

Europe’s first spot Bitcoin exchange-traded fund (ETF) is expected to be publicly listed this month, following a 12-month delay from the initially planned date

Standard Chartered’s great expectations for Bitcoin in 2024

Top blockchain and crypto news: Standard Chartered eyes US$120,000 per Bitcoin | Another week of declines in NFT market | Sega and Line team up.

Bitcoin, Ether fall; all other top 10 cryptos mixed

Bitcoin prices fell below US$30,500 in the past 24 hours while its trading volume has gained over 20%. Ether also fell. Cardano and BNB were the day’s biggest losers.

USDC issuer Circle trims workforce

Stablecoin issuer Circle has reduced its workforce and investment in non-core activities.

Bitcoin, Ether fall, Polygon leads losers; U.S. equities gain as inflation slows

Bitcoin dropped on Thursday morning in Asia to below US$30,500. Ether and most other top 10 non-stablecoin tokens also logged losses.

Bitcoin inches up, holds above US$30,500; all other top 10 cryptos mixed

Bitcoin trade volumes dropped in the last 24 hours but the token is holding steady above US$30,500. Binance’s BNB token posted the biggest gain while most other top 10 cryptocurrencies traded mixed.

Bitcoin above US$30,500, Ether flat, SOL leads the winners

Bitcoin rose on Wednesday morning in Asia to trade above US$30,500. Ether traded flat while most other top 10 non-stablecoin tokens gained. SOL led winners.

Gamers can now earn Bitcoin rewards on Minecraft via Zebedee

Zebedee, a New Jersey-based payments technology firm, will allow Minecraft players to earn Bitcoin by completing in-game quests.

Bitcoin steady above US$30,000, all top 10 cryptos rise on market optimism

Bitcoin breached US$31,000 level in the past 24 hours after falling back to hold above US$30,000. Ether and all other top 10 cryptos gained.

Improving crypto user experience is an imperative and need not come at the cost of security: Opinion

The key to making crypto easier to use while less prone to skulduggery lies in centralizing some security and UX features, writes Hsuan Lee of Blocto.

Bitcoin gains on StanChart price predictions, fund inflows; Ether rises, Matic leads winners

Bitcoin rose on Tuesday morning in Asia, after Standard Chartered predicted the token could reach US$120,000 by the end of 2024. Ether and most other top 10 tokens rose.

Global crypto industry worth US$180 billion, says K33 Research report

The global cryptocurrency industry is valued at US$180 billion, with over 10,000 companies employing a total of 190,000 employees, according to a July 5 report from crypto intelligence firm K33 Research. See related article: Singapore, Thailand clarify crypto rules; NFTs become new cultural frontier Fast facts See related article: South Korea, Singapore, Thailand clarify crypto […]

Bitcoin dips but holds above US$30,000, all other top 10 cryptos drop

All top 10 cryptocurrencies, including Bitcoin and Ether, drop over the last 24 hours while investors brace for more interest rate hikes in the U.S.

Despite the regulatory darkness in America, crypto’s dawn is nigh: Opinion

Crypto’s current turmoil in the US stands in stark contrast to other jurisdictions that are paving paths to for the industry to shine, writes Sean O’Connor.

South Korea holds first court hearing for Terra co-founder Daniel Shin on crypto fraud charges

South Korea on Monday held the first preliminary hearing for Terraform Labs co-founder Daniel Shin and seven other former employees on charges related to the collapse of the Terra-Luna crypto project.

Bitcoin stays above US$30,000; ETF optimism dampens; further rate hikes expected

Bitcoin dipped on Monday morning in Asia but held above the US$30,000 support level. Ether edged lower along with most other top 10 non-stablecoin tokens.

Singapore, Thailand clarify crypto rules; NFTs become new cultural frontier

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Weekly Market Wrap: Bitcoin holds above US$30,000; SEC officially silent over spot Bitcoin ETF applications

Bitcoin held above US$30,000 for most of the week but lost momentum as the SEC left investors guessing on how it will treat spot Bitcoin ETF applications.

Bitcoin rises back to US$30,000, Ether remains under US$1,900, top cryptos in the red

Crypto buying subsided as the U.S. regulator made no official comment on Bitcoin exchange-traded fund (ETF) applications and executives quit Binance, the world’s largest crypto exchange.

How did Do Kwon move US$18 mln in stablecoins to ‘unfreezable’ tokens while in Montenegro jail?

A South Korean academic tracking on-chain data says Do Kwon, the imprisoned founder of the now collapsed Terra-Luna crypto project, seems to have outside help in moving stablecoins from his digital wallets into other cryptocurrencies.

Bitcoin loses US$30,000 peg, Ether falls as risk-off sentiment spreads to cryptocurrencies

Bitcoin fell below US$30,000 on Friday morning in Asia as traders took profits amid worries about interest rate hikes in U.S. markets.

Bitcoin, Ether rise, top cryptos mixed, as investors await SEC response to Bitcoin ETF applications

Bitcoin and Ether rose during Thursday afternoon trading in Hong Kong, while most of the top altcoins were mixed, as investors await the U.S. Securities and Exchange Commission’s (SEC) response to spot Bitcoin ETF applications. See related article: Weekly Market Wrap: Bitcoin breaches US$31,195 following Fidelity’s spot Bitcoin ETF application Bitcoin, Ether rise, top 10 […]

Bitcoin, Ether, all other top 10 cryptocurrencies fall; Litecoin leads losers with Cardano

Bitcoin, Ether fell along with all top 10 cryptocurrencies. Litecoin and Cardano led the losers. The Forkast 500 NFT index rose, but NFT mood is pessimistic.

Singapore’s DBS starts e-CNY bank services for China clients

Singapore-based DBS bank has introduced a “merchant collection solution” using e-CNY – China’s central bank digital currency – to allow corporate clients of DBS China to collect payments from their customers in e-CNY, and avail the automated settlement of e-CNY directly into their bank deposit account.

Bitcoin, Ether slip but remain above key price levels while altcoins struggle to find momentum

Bitcoin and Ether fell during Wednesday afternoon trading in Hong Kong but remained above key price levels, while most of the top altcoins were in the red.

Airchains to record land ownership with NFTs for Indian city

Indian Web3 firm Airchains has announced a partnership with the New Town Kolkata Development Authority of West Bengal, to release 500,000 NFTs in hopes to enhance registration and transfer of land ownership. 

Why a wash sale rule for crypto may be coming soon — and what this means for you: Opinion

For years, crypto and NFT investors enjoyed tax advantages that holders of stocks and bonds do not have, but legislation on the horizon could end that loophole.

Bitcoin trades flat after losing US$31,000 peg; Solana gains; Polygon, BNB lead losers

Bitcoin and Ether traded little changed on Wednesday morning in Asia, while the rest of the top 10 non-stablecoin cryptocurrencies were mixed.

Bitcoin, Ether slip but remain above key levels; top 10 cryptos mixed

Bitcoin and Ether fell during Tuesday afternoon trading in Hong Kong, while most of the top 10 non-stablecoin cryptocurrencies by market capitalization were mixed.

Bitcoin breaches US$31,000 on BlackRock’s updated ETF; Ether gains, Polygon leads winners

Bitcoin climbed above US$31,000 on Tuesday morning in Asia after Blackrock refiled its Bitcoin ETF application. Ether also gained amid institutional interest.

Bitcoin slips, Ether inches up, top 10 cryptos gain as investors remain upbeat

Bitcoin fell and Ether rose during Monday afternoon trading in Hong Kong, while most of the top 10 non-stablecoin cryptocurrencies by market capitalization strengthened.

Global shifts in crypto capital are underway. Here’s where the money is going

Digital assets funds have been flowing in waves all over the world since crypto’s inception, writes Amy Yu, CEO of SEBA Bank. Where is crypto capital going now?

Bitcoin flat, Ether gains in mixed crypto market; Solana rebounds, Litecoin leads winners

Bitcoin traded flat above US$30,000 while most other leading tokens were mixed. Litecoin and Solana saw the biggest gains among the top 10.

Blockchain Alliance’s Raj Kapoor says the technology can reshape India’s governance systems

Kapoor founded the India Blockchain Alliance five years ago and gives an update on how the technology is being used in police reports to real estate transactions, as well as challenges of CBDC adoption and plans for tokenization of assets. He spoke in an interview for Forkast IQ.

June 2023

US SEC says Bitcoin ETF applications inadequate: WSJ

The U.S. Securities and Exchange Commission (SEC) said the recent series of spot Bitcoin exchange-traded fund (ETF) applications by asset managers were inadequate and not sufficiently clear, according to a report by Wall Street Journal on Friday. 

ApeCoin DAO replaces Yat Siu and Alexis Ohanian

ApeCoin DAO, the decentralized autonomous organization behind the ApeCoin cryptocurrency, has replaced Animoca Brands chairman Yat Siu and Reddit co-founder Alexis Ohanian, in its special council that oversees the Ape Foundation.

Weekly Market Wrap: Bitcoin breaches US$31,195 following Fidelity’s spot Bitcoin ETF application

Bitcoin briefly rose to US$31,195 after Fidelity filed its spot Bitcoin ETF application. Can the wave of institutional interest keep Bitcoin above US$30,500?

Ripple executive spells out Asia future after license success in Singapore

Ripple Labs’ Asia-Pacific branch is offering digital payment services in Singapore after receiving in-principle approval of its license application from the MAS on June 22. What does that mean for the company’s Asia business?

Bitcoin ETFs, Azuki NFTs take off; India presses for crypto rules

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Bitcoin, Ether rise along with all other top 10 cryptos

Cyptocurrency investor sentiment continues to improve with Litecoin posting strong gains as its halving event in August gets closer.

The bane of crypto today is quantity over quality: Opinion

The market now has 26,000 different cryptocurrencies and the total number of coins in circulation approaches infinity. How do those tokenomics make any sense?

Bitcoin gains with all top 10 crypto, Fidelity confirms Bitcoin ETF bid, U.S. economy rebounds

All top 10 cryptocurrencies rose, led by Solana, as another financial heavyweight applied to offer a Bitcoin exchange-traded fund and data showed the U.S. economy in good health. Stocks rose.

Binance to change euro banking partner from September

Binance’s euro banking partner, Paysafe Payment Solutions, will stop offering its services for the world’s largest cryptocurrency exchange from Sept. 25.

Crypto gets a boost following reports of Fidelity’s imminent Bitcoin spot ETF filing

Top blockchain and crypto news: Fidelity Investment is reportedly close to filing its own Bitcoin ETF. NFT traders seek liquidity. Singapore eyes asset tokenization.

Bitcoin remains above US$30,000, despite hawkish remarks from Powell

Bitcoin and Ether rose during Thursday afternoon trading in Hong Kong, while the top 10 non-stablecoin cryptocurrencies by market capitalization were mixed.

Bitcoin, all other top 10 cryptos lose ground; Azuki Elementals NFT disappoints investors

Bitcoin dropped but remained above US$30,000, with all other major cryptocurrencies falling, as investors reacted to news of MicroStrategy’s Bitcoin purchase and ARK Invest’s spot Bitcoin ETF plan.

EU publishes draft bill for digital euro and cash payments

The European Commission released two proposals on Wednesday, one for the digital euro, the ECB’s CBDC, and a legislative proposal to safeguard the role of cash.

Bitcoin dips but holds above US$30,000, all top 10 cryptos drop

Despite a slight dip in crypto prices, positive investor sentiment persists, buoyed by the potential of Bitcoin ETFs, rising institutional adoption, and recovery from regulatory concerns.

Bitcoin, other top 10 cryptos rise; Fidelity said to plan spot Bitcoin ETF application in U.S.

Bitcoin rose along with other major cryptocurrencies. Fidelity reportedly plans a second spot Bitcoin ETF application in the U.S. following BlackRock’s move earlier this month. A strong day on Wall Street also offered support.

Bitcoin holds above US$30,000, most other top 10 cryptos mixed

Bitcoin slipped 0.04% but remained above US$30,000. Ether fell 0.97% to US$1,875.