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Cryptocurrencies

1483 articles

May 2023

India not against blockchain tech, but cryptocurrency should be monitored, says FM

India is not against the blockchain technology, but currencies have to be monitored by either the government or the central bank, Finance Minister Nirmala Sitharaman said on Saturday. 

Prosecutor says Terra-Luna fugitive Do Kwon should face trial in South Korea: WSJ

The prosecutor leading Korea’s investigation into the Terra-Luna project said its founder Do Kwon should be extradited to Seoul to face trial.

Binance resumes Bitcoin withdrawals after halting transactions twice in 12 hours

Binance resumed withdrawals of Bitcoin around Monday noon in Hong Kong after temporarily halting the service twice within 12 hours due to what the world’s largest cryptocurrency exchange said was a “large volume of pending transactions.”

Bitcoin, Ether fall; XRP leads losers as top 10 tokens lose steam; US equity futures flat

Bitcoin fell in Monday morning trading in Asia after failing to breach the US$30,000 ceiling over the weekend. Ether dropped below the US$1,900 mark.

Central bank digital assets can legitimize risk in the crypto space, says Standard Chartered’s Geoff Kendrick

In the second installment of a three-part interview series, Geoff Kendrick, head of crypto research and EM FX West at Standard Chartered Bank, talks altcoins, stablecoins and the legitimization of crypto risk through central bank digital assets.
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Pepe, Floki to list on Binance exchange

PEPE and FLOKI, the two top trending memecoins that saw the biggest gains on Friday, will be listed on Binance at 12 a.m. Hong Kong time Saturday

Weekly Market Wrap: Bitcoin rises above US$29,000, Ether recaptures US$1,900

Bitcoin inched above US$29,000 on Friday, as concerns over the health of the banking system have been reignited. Industry experts tell Forkast that banking troubles could fuel Bitcoin values, which face significant resistance above US$29,500.

Central Banks’ actions move Crypto; Standard Chartered eyes $100K Bitcoin

Welcome to Forkast IQ, presented by Forkast Editor-in-Chief Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show: JPMorgan Chase set to rescue First Republic Bank. CITI cuts Coinbase stock Weekly crypto market wrap; “US$100K for Bitcoin” – Standard Chartered report; Weekly NFT market […]

Bitcoin rises, Solana leads losses across top 10 cryptos, U.S. dollar slides amid banking sector concerns

Bitcoin rose while Ether fell in Thursday afternoon trade in Asia, with declines across most of the other top 10 non-stablecoin cryptocurrencies by market capitalization. Solana’s SOL token was the biggest loser of the day.

Bitcoin rediscovers its mojo as banks stumble, says Standard Chartered’s Geoff Kendrick

Against a backdrop of increasing turmoil in traditional banking, Bitcoin is on a four-month winning run that could, tailwinds permitting, soon turn into a surge.
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Bitcoin, Ether dip following Europe’s rate hikes; US equity futures edge up despite banking woes

Bitcoin dipped below US$29,000 in Friday morning trading in Asia as rate hikes in Europe sent uncertainty to investors. Ether fell below US$1,900.

Crypto and NFT Market Update – May 4th

Welcome to The Daily Forkast – May 4, 2023 – presented by Jeff Cheung. The Federal Reserve has increased interest rates by another 25 basis points again, leaving it at its highest levels since 2007. The crypto markets have been faring well despite this, with Bitcoin back to the US$29,000 levels and most other major […]

Bitcoin, Ether rise; ADA is day’s biggest gainer; investors await European Central Bank’s interest rate decision 

Bitcoin and Ether rose in Thursday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Cardano’s ADA token saw the day’s biggest gains.

Bitcoin back above $29,000, Ether gains; Matic leads winners on Polygon tools update

Bitcoin and Ether rose in early Thursday morning trading in Asia, with most other top 10 non-stablecoin cryptocurrencies mixed.

Bitcoin, Ether gain most among top 10 cryptos; U.S. stock futures mixed ahead of Fed’s rate decision 

Bitcoin gained 2.18% in 24 hours while Ether rose 1.67%.
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Crypto markets ahead of US Fed decision

Welcome to The Daily Forkast – May 3, 2023 – presented by Megha Chaddah. Crypto markets are holding on to gains despite the sell-off in equities ahead of the US Fed decision. Bitcoin was trading at $28,500 dollars up a solid 2% and Ethereum was up a similar percentage at about $1,860.

Bitcoin, Ether, Litecoin rise, BNB stumbles; US equity futures flat ahead of Fed interest rate decision

Bitcoin and Ether gained ground in Wednesday morning trading in Asia, with most other top 10 tokens mixed. Litecoin gained, BNB was the biggest loser.

Bitcoin inscriptions: Are Ordinals a boon or a drag on the network?

Now that the Bitcoin Ordinals genie is out of the bottle, a debate is raging about whether they’re good for the original blockchain and their long-term consequences.

Bitcoin, Ether drop; BNB, Polkadot biggest losers in top 10 cryptos; U.S. stock futures weaken

Bitcoin dropped 2.09% in Tuesday afternoon trade in Asia while Ether lost 0.81%. BNB fell 2.93% and Polkadot declined 2.66%.
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Crypto market dips ahead of US Fed meeting

Welcome to The Daily Forkast – May 2, 2023 – presented by Megha Chaddah. The crypto markets fell with Bitcoin dropping as much as 5% at one point in the last 24 hours but has recovered a bit since then, trading now just under the 28,000 dollar mark, down over 2%. Meanwhile, the NFT markets […]

Bitcoin, Ether lose ground; Polkadot leads losers among top 10; U.S. equity futures slip

Bitcoin dipped to US$28,000 in Tuesday morning trading in Asia and then fell through that support line later in the morning. Ether and other top 10 cryptocurrencies also fell.

Securities or not, crypto in the US needs new regulations and clearer guidance

CFTC and SEC disagree over whether cryptocurrencies are securities, and two big lawsuits clouding the industry’s future invoke laws that long predate the digital era.
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Bitget crypto exchange still hiring, eyes Hong Kong license, to rebrand BitKeep wallet

Seychelles-based cryptocurrency exchange Bitget expects more clarity on Hong Kong’s licensing regime from June as the city pushes ahead with plans to attract blockchain and cryptocurrency entrepreneurs.

Bitcoin up on bank jitters, price forecasts; Ether dips, U.S. equity futures flat

Bitcoin edged up on Monday morning in Asia to hold above US$29,000. Ether fell below US$1,900. Most other top 10 non-stablecoin tokens traded lower except BNB.

April 2023

Mad Lads tops weekly NFT sales in first week since launch

Mad Lads has been the best selling NFT collection in the world since its launch that was delayed last week due to a DDOS attack.

Weekly Market Wrap: Bitcoin flirts with US$30,000, Ether regains US$1,900

Bitcoin rebounded from US$27,000 multiple times this week. Uncertainty over U.S. regulation and geopolitical tensions may continue weighing on the crypto market, industry experts told Forkast.

Bitcoin, Ethereum gain amid banking woes

Welcome to Market Movers – April 28, 2023 – presented by Megha Chaddah. It’s been a wild week in the world of crypto. From fears of collapsing banks to unsubstantiated rumors crashing the price of Bitcoin briefly, the crypto market has somehow found its footing and recovered by the end of the working week. On […]

Bitcoin, Ether rise amid renewed recession fears after weaker-than-expected U.S. GDP

Bitcoin and Ether rose during Asian trading hours on Friday, while the top 10 non-stablecoin cryptocurrencies by market capitalization closed mixed. The SOL token saw the biggest gain. Asian equity markets strengthened after the Chinese central bank boosted short-term cash injections for the 11th day.

NFTs run out of steam as Cryptos clock weekly gains

Welcome to The Daily Forkast – April 28, 2023 – presented by Megha Chaddah. The crypto markets end the week on a strong note after a difficult start, with most of the major cryptocurrencies trading in the green once again. The NFT markets had a tougher time today though, as most of the Forkast Indexes […]

Bitcoin gains after week of bank turbulence, Ether dips, U.S. equity futures lose steam

Bitcoin rose on Friday morning in Asia amid worries about U.S. banks and a possible recession. Ether edged lower. along with most other top 10 tokens.

What the US stands to lose if it keeps heaping scorn on crypto

The current US approach to regulating crypto flies against its history of supporting tech innovation and undermines its own national interest, writes Hamilton Keats of Krayon Digital.

Polygon developers get access to Google Cloud’s node service

Google Cloud has announced that its node hosting service, the Blockchain Node Engine, will be available for developers on the Polygon blockchain. 

Coinbase sues SEC in bid for clarity on crypto rules

Top blockchain and crypto news: Coinbase in court to force SEC’s hand. PEPE surge lifts memecoin mood. China paves CBDC path with payroll.

Crypto bounces back after rumor mill scare

Welcome to The Daily Forkast – April 27, 2023 – presented by Jeff Cheung. The crypto markets suffered from a minor heart attack earlier today when unsubstantiated rumors surfaced, claiming Mt Gox and US Government wallets had allegedly moved large amounts of Bitcoin.

Bitcoin, Ether inch up; equities strengthen after phone call between China’s Xi Jinping, Ukraine’s Zelensky

Bitcoin and Ether rose during Asian trading hours on Thursday, while most top 10 non-stablecoin cryptocurrencies by market capitalization declined. Cardano’s ADA token saw the biggest gain.

Investment giant Franklin Templeton connects US$270 million fund to Polygon network

Franklin Templeton said Wednesday that its OnChain U.S. Government Money Fund is now supported on the Polygon network.

Bitcoin, Ether rebound after early morning fall; U.S. equity futures gain on Meta outlook

Bitcoin rose above US$29,000 on Thursday morning in Asia, rebounding from an earlier drop. Ether gained. Other top 10 non-stablecoin tokens traded mixed.

Mad Lads briefly boosts Tensor’s NFT trading volume past Magic Eden

Tensor topped Magic Eden’s sales volume on Wednesday afternoon in Hong Kong, giving it a brief stint as Solana’s top NFT marketplace. 

US response to crypto is like ‘deer caught in headlights,’ says ex-CFTC chair

Christopher Giancarlo, the former chair of the CFTC, said the U.S. is resisting cryptocurrency innovation due to its threat to vested interests in the financial system.

Bitcoin, Ether, top 10 cryptos rise; Asian equity markets mixed

Bitcoin and Ether rose on Wednesday trade in Asia, along with all top 10 non-stablecoin cryptocurrencies, with Solana and Cardano leading the way.
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Crypto market recovers as earnings calls continue to show positives

Welcome to The Daily Forkast – April 26, 2023 – presented by Jeff Cheung. Most major cryptocurrencies are back in the green as earnings reports from tech giants like Microsoft and Alphabet are showing positive results, outperforming analyst expectations.

Bitcoin bounces back to US$28,000, Ether gains; U.S. equity futures up on tech earnings

Bitcoin rose in Wednesday morning trading in Asia to reclaim the US$28,000 mark, with Ether and all other top 10 non-stablecoin cryptocurrencies moving higher.

Declaring proof of reserves is important, but it’s not enough

‘Proof of reserve’ is the new catchphrase and promise by crypto leaders eager to allay investor fears. But loopholes remain and audits might not mean what you think, writes Anndy Lian.

Bitcoin, all top 10 cryptos fall; Asian equity markets drop on rising Covid fears

Bitcoin fell in Tuesday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies. Polygon was the biggest loser followed by Solana.
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Crypto sell off continues; Coinbase asks SEC for answers

Welcome to The Daily Forkast – April 25, 2023 – presented by Jeff Cheung. In an unexpected twist of events, Coinbase is suing the United States Securities and Exchanges Commission after receiving a Wells notice from them just last month. The crypto markets haven’t reacted to this news well, and after a rough start to […]

South Korea indicts Terra co-founder Daniel Shin; Shin rejects accusations

South Korean prosecutors on Tuesday indicted Terraform Labs co-founder Daniel Shin for alleged fraudulent transactions related to the collapse of the Terra-Luna crypto project.

CoinShares says weekly investment in Ethereum-linked products rebounds after hard fork

Ethereum-linked digital asset investment products saw inflows of around US$17 million in the week ending April 21, up from US$300,000 in the previous week, appearing to show investor confidence following the blockchain’s milestone upgrade, Coinshares report shows.

Bitcoin loses ground, Ether dips even as inflows rise; Litecoin edges up, with halving cited

Bitcoin fell below US$27,500 support on Tuesday morning in Asia. Ether and most other top 10 tokens traded lower amid a broader correction.

Russia is 2nd biggest Bitcoin miner after U.S.: report 

Russia is now the second largest Bitcoin miner after the U.S., according to a report by Russian media Kommersant. 

Memecoin PEPE falls 18% at start of trading week

PEPE, a memecoin launched on April 14, fell 18.81% to US$0.0000002626 in the 24 hours to 7 p.m. on Monday in Hong Kong. The coin is still up over 392% on the weekly chart and has a market capitalization of US$116 million, according to DEXTools.

Bitcoin extends drop, stays below US$28,000; Solana, Polygon leads losers in top 10 cryptos

Bitcoin extended losses in Monday afternoon trade in Asia, along with all top 10 non-stablecoin cryptocurrencies by market capitalization, with Solana and Polygon as the biggest losers.
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India’s finance minister lauds DLT, says crypto regulation does not mean technology control

India’s Finance Minister Nirmala Sitharaman, in commending the potential of distributed ledger technology (DLT), has urged for a global consensus in regulating crypto while emphasizing that regulation did not equate to government control over the technology. 

Cryptocurrencies trade lower as weekly losses pile up

Welcome to The Daily Forkast – April 24, 2023 – presented by Jeff Cheung. It’s been a bad weekend for the major cryptocurrencies, with most of them trading in the red over the last seven days. Bitcoin lost its footing with the US$30,000 mark and Ethereum lost all of its gains from the Shapella upgrade.

China’s Changshu city to pay civil servant salaries in digital yuan

State employees in China’s Changshu City will receive their salaries in digital yuan from May, as China’s CBDC expands in daily uses.

Terraform Labs Kwon to get Montenegro court hearing May 11 on passport forgery charges

Kwon Do-hyeong will have a court hearing on May 11 in Montenegro on charges of allegedly attempting to travel using a false passport.

Bitcoin, Ether gain, but hold losses for the week; U.S. equity futures lose ground

Bitcoin rose on Monday morning in Asia but was boxed in below US$28,000. Ether and most other top 10 tokens gained, but not by enough to erase losses for the past week.

Uncertainty in crypto cycles from Memecoins & NFTs

A new memecoin craze is raising Ethereum transaction fees, but it’s also bringing new liquidity in for non-fungible tokens.

Weekly Market Wrap: Can Bitcoin float above US$27,500 after sinking below US$30,000?

Bitcoin fell to US$28,000 in the same week the European Parliament passed its landmark crypto framework. Industry analysts told Forkast that holding US$27,500 will be crucial for Bitcoin in order to spark an upward momentum.

Do Kwon: The Rise & Fall

Do Kwon has been charged by Montenegrin authorities for attempting to travel with forged documents as the US and South Korea race to extradite him.

Bitcoin’s mempool congestion eases after millionth Ordinals inscription

Mempool congestion issues subsided after the Bitcoin network surpassed 1 million Ordinals inscriptions.

Bitcoin, Ether decline; equities fall amid U.S.-China tension

Bitcoin and Ether fell by the end of Asian trading hours on Friday afternoon, together with all top 10 non-stablecoin cryptocurrencies by market capitalization apart from the BNB token. Asian equities declined along with U.S. futures, amid mounting political pressure between China and the U.S. Fast facts See related article: EU green lights MICA but […]

EU green lights MICA but Cryptos tumble on economy worries

Welcome to The Daily Forkast – April 21, 2023 – presented by Megha Chaddah. The European Union has approved the passage of their Markets in Cryptoassets (MiCA) law, making it the first major jurisdiction in the world to introduce a comprehensive law for the crypto sphere. Meanwhile, the crypto markets have sailed on steadily for […]

Bitcoin falls to near US$28,000, Ether flat, U.S. equities slide on rate hike worries

Bitcoin fell to near US$28,000 on Friday morning in Asia, with Ether trading flat and most other top 10 non-stablecoin tokens losing steam.

Bitcoin mining produces energy gold. Let’s use it to help save our planet

Critics have long slammed Bitcoin mining for its enormous carbon footprint. But what if all the heat that miners emit can be sustainably powered and reused?

From billionaire to Montenegro jail: The rapid rise and fall of Terra chief Do Kwon

South Korea’s Do Kwon went from a poster boy of digital finance as a co-founder of the US$40 billion Singapore-based Terraform Labs to a fugitive on Interpol’s wanted list, all in a matter of several rollercoaster years. He’s now in a Montenegro jail where he may face more time in detention as the U.S. and South Korea demand his extradition to face a long list of charges, including securities fraud – allegations he has repeatedly denied. The following is a timeline of how we got here.

Bitcoin trades below US$29,000, Ether slips, as market eyes Europe’s MiCA vote

Bitcoin and Ether fell during afternoon trading hours in Asia on Thursday, while most other top 10 non-stablecoin cryptocurrencies by market capitalization strengthened. Crypto investors were cautious ahead of Europe’s vote on the Markets in Crypto Assets (MiCA) bill.

Bitcoin, other cryptos fall as investors book profit

Welcome to The Daily Forkast – April 20, 2023 – presented by Megha Chaddah. Bitcoin is down more than 5% Thursday morning in Asia. Ethereum also fell to lose hold of the US$2,000 price support in a sell-off across all top 10 non-stablecoin tokens. In the multi-chain economy, the Forkast Labs indexes trade mixed.

Bitcoin falls below US$29,000, Ether slumps, U.S. equities stall on inflation concerns

Bitcoin slid below the US$29,000 mark on Thursday morning in Asia. Ether lost hold of US$2,000 in a sell-off across all top 10 non-stablecoin tokens.

US chip giant Intel abandons Bitcoin ASIC production

Intel has announced it would shut down its Bitcoin mining chip production a year after launch.

Bitcoin gains, holds above US$30,000; Solana, BNB biggest losers in top 10 cryptos

Bitcoin rose and traded above US$30,000 on Wednesday afternoon in Asia, while Ether fell along with most top 10 non-stablecoin cryptocurrencies by market capitalization. Solana lost the most, followed by Binance’s BNB token.
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Bitcoin to peak at US$42,000 in 2023, end the year above US$35,000: Finder survey

Bitcoin is expected to hit a high of US$42,225 in 2023 and close the year around US$35,485, according to a survey by Finder.

Bitcoin rebounds as Eth withdrawal queue gets longer

Welcome to The Daily Forkast – April 19, 2023 – presented by Megha Chaddah. Bitcoin rebounded above the US$30,000 mark and Ether gained ground as the withdrawal queue gets longer. Meanwhile, in the world of NFTs, former U.S. President Donald Trump is back in action as the second set of his digital collectibles was released.