Economy

Bitcoin miner Prime Blockchain Inc., also known as PrimeBlock, has dropped its public listing plan via a blank-check company merger valued at US$1.25 billion, joining a number of crypto firms that have delayed or canceled similar listing plans. See related article: Markets: Bitcoin, Ether fall; Dogecoin outperforms, Cardano edges higher Fast facts PrimeBlock and 10X […]

Australia’s retirement fund industry, the world’s fifth largest at US$2.3 trillion, is one future target for investment funds offering cryptocurrencies.

Bitcoin and Ethereum fell in late evening trade in Hong Kong as appetite for risk assets tapered in the wake of data showing that China’s economic activity slowed across the board in July. Dogecoin (DOGE) reversed gains from the morning, while Shiba Inu token (SHIB) edged up. See related article: Markets: Bitcoin little changed, Ether […]

Ethereum futures contracts open interest reached an eight-month high of over US$3.1 billion on Binance on Sunday, Glassnode said on Twitter. See related article: Markets: Bitcoin little changed, Ether dips below $2,000, Memecoins surge Fast facts See related article: Privacy protocol Monero completes upgrade to make transactions more private

The crypto winter may have chilled many in Web3, but metaverses are an increasingly hot prospect in traditional finance, says DBS Bank’s legal chief

Bitcoin fell while Ethereum traded little changed on Friday afternoon in Asia. Huobi Token, the native coin of China crypto exchange Huobi, jumped 18.9% in the last 24 hours after Bloomberg reported its founder was seeking to sell a majority stake in the business. See related article: Markets: Bitcoin, Ether retreat as investors digest inflation, […]

Something of a sea change? Financial institutions that once turned up their noses at cryptocurrencies are now figuring out ways to get access for their clients.

Bitcoin and Ethereum rose, along with nearly all other top 10 cryptocurrencies, in Thursday afternoon trading in Asia after the U.S. reported slower inflation in July and as Ethereum completed a test run for its upcoming shift to the proof-of-stake (PoS) model. See related article: Markets: Bitcoin, Ether rise with equities as US inflation shows […]

Pantera Capital-backed Injective Labs has raised US$40 million to be used to create blockchain optimized for financial applications, it said in a statement.  See related article: Singapore DeFi derivatives exchange SynFutures closes US$14M fund raise Fast facts The funding round was led by Jump Crypto and BH Digital, the crypto arm of hedge fund manager […]

Bitcoin, Ethereum and all other top 10 cryptocurrencies rose in tandem with U.S. equities markets overnight as consumer data showed U.S. inflation slowed in July. Polkadot surged after announcing a tie-up in decentralized finance services. See related article: Markets: Bitcoin, Ether fall in general sell off; Solana takes hit, BNB stumbles Fast facts Bitcoin changed […]

Top blockchain and crypto news: Binance spurns WazirX amid India probe. BlackRock bets on Coinbase. Crypto influencers in China’s crosshairs.

Bitcoin and Ethereum fell in Wednesday afternoon trading in Asia, with almost all top 10 cryptocurrencies by market cap in the red. Solana was the biggest mover among the major coins, dropping 5.94% in the past 24 hours. See related article: Markets: Bitcoin falls as crypto market loses steam, equities dip ahead of inflation data […]

Bitcoin and Ethereum fell as most of the top 10 cryptocurrencies gave up ground made earlier in the week. BNB was the exception, posting a slight gain to round out a 15% price increase in the past seven days. See related article: Markets: Bitcoin loses steam, Ether continues run higher in late Asia trading Fast […]

Bitcoin fell back in late afternoon trading on Tuesday in Asia, losing steam after a run up of more than 4% in the past seven days. Ethereum continued its rally amid the buzz around the so-called “merge” when it shifts from proof-of-work to proof-of-stake, gaining more than 12% week-on-week. Polkadot and Solana fell back after […]

Singapore-based crypto lender Hodlnaut freezed withdrawals as well as ended its token swapping feature on Monday, just as the market is showing signs of recovery from the so-called crypto winter. See related article: Zipmex resumes withdrawals of certain tokens in phased manner Fast facts Hodlnaut said the withdrawal freeze is to “focus on stabilizing our […]

Bitcoin and Ethereum led broad gains among the top 10 cryptocurrencies by market capitalization on Tuesday morning in Asia. Bitcoin touched US$24,203 at one point overnight, its highest since July 31. Ethereum rallied to US$1,806, its highest since early June. See related article: Markets: Bitcoin, Ethereum rise in broad gains; Solana jumps; BNB adds to […]

Bitcoin and Ethereum rose in broad-based gains in cryptocurrencies that drove all other tokens higher in the top 10 list by market capitalization in afternoon trading in Asia on Monday. See related article: Bitcoin, Ethereum edge up; BNB rises; Avalanche adds to gains on partnerships Fast facts Bitcoin, the world’s largest cryptocurrency, added 3.3% in […]

Bitcoin and Ethereum rose in early morning trading in Asia, along with most other tokens on the top 10 list by market capitalization. BNB rose 3.4% to reach US$325, adding to gains made last week when the Binance exchange, the BNB issuer, said it would add more tokens. Cardano briefly touched a week’s high, up […]

Bitcoin was largely flat in Friday afternoon trading in Asia, while Ethereum gained. However, both of the two major coins on the top 10 list by capitalization were trading more than 3% lower week-on-week. BNB’s gains ran into a second day, while Polkadot and Dogecoin rose.  See related article: Ethereum Classic’s ‘Merge’ surge not expected […]

It was a mixed bag for the top 10 cryptocurrencies Friday morning in Asia, with most moving less than 1%. Bitcoin dipped, while BNB continued its breakout run for a second day. Bitcoin was trading at US$22,612 as of 8 a.m. in Hong Kong, down 1% in the last 24 hours. Ethereum slipped 0.7% to […]

India’s government doesn’t like cryptocurrencies and has made that clear in statements and with heavy taxes on the asset class, but what does that say about blockchain adoption?

Bitcoin and Ethereum moved lower in Asia afternoon trading on Thursday, with Solana recovering from a price drop blamed on a hack of its network. Bitcoin was priced at US$22,927 as of 4:30 p.m. in Hong Kong, down 1.12% in the last 24 hours. Ethereum edged down 0.9% to US$1,621, according to data from CoinMarketCap. […]

As wages stagnate and prices spiral, crypto offers investment and growth opportunities unmatched by the traditional financial system, writes Tarik Moon, CEO of Alpine.

Top blockchain and crypto news: Filecoin leads in market uptick. CryptoPunks in new glow as Tiffany jewelry. Chinese firms flock to Singapore.

Solana fell 4% in Asia afternoon trading on Wednesday as reports surfaced of a hack that had drained thousands of wallets holding the token. Bitcoin and Ethereum edged higher, though U.S.-China tensions were a broader concern across all markets. Bitcoin traded at US$23,187 as of 4:30 p.m. in Hong Kong, up 1.47% in the prior […]

Stefan Chu, who used to head over-the-counter (OTC) trading at TPS Capital, has left the organization as the company seeks to distance itself from the bankrupt hedge fund Three Arrows Capital (3AC), according to a report by The Block.  See related article: MAS takes aim at Three Arrows Capital, does not impose penalty Fast facts […]

The cryptocurrency market is trading down in general, with Bitcoin and Ethereum down 2.2% and 6.1% over the past 24 hours in Tuesday evening trade in Hong Kong. See related article: ETH crosses Bitcoin in options market for first time in history Fast facts Bitcoin was trading at US$22,843.99, while Ethereum was changing hands at […]

Ethereum blockchain’s native token Ether (ETH) has surpassed Bitcoin (BTC) in the options market for the first time on Deribit exchange. See related article: Tether will support ETH 2.0 amid speculations of Merge delay Fast facts The cumulative dollar value of Ether options contract opens on Deribit was around US$5.7 billion, while open Bitcoin options […]

Major cryptocurrencies were lower in early Tuesday trading in Asia, with Ethereum losing 3% in the past 24 hours to trade at US$1,634 as of 8 a.m. in Hong Kong. Bitcoin dipped 0.2% to trade at US$23,267, according to data on CoinMarketCap. See related article: Bitcoin, Ethereum fall back after posting monthly gains for July […]

Bitcoin and Ethereum were trading lower by 1.3% and 0.4% over the past 24 hours in Monday evening trade in Hong Kong. See related article: Bitcoin, Ethereum fall back after posting monthly gains for July Fast facts Bitcoin was trading down 1.3% at US$23,331.73 over the past 24 hours at 5:20 p.m. HKT on Monday, […]

Bitcoin ended July trading at US$23,737 for a monthly gain of nearly 24% — its highest since October last year when it rose 40%. Ethereum gained about 60% in July. See related article: Bitcoin, Ether rally continues in Friday afternoon trading in Asia Fast facts Bitcoin fell about 1% on Monday morning in Asia, with […]

The cryptocurrency market continued its rally in afternoon trading in Asia on Friday, with Bitcoin and Ethereum up 4.4% and 5.7%, respectively, over the past 24 hours. See related article: Crypto continues tear while Vitalik Buterin says Eth2 ‘not priced in’ Fast facts Bitcoin was at one point changing hands above the US$24,000 mark in […]

The crypto market continued its tear overnight Thursday in Asia with Bitcoin and Ethereum trading up 4% and 6%, respectively, in the 24 hours before business hours on Friday. See related article: Crypto, traditional markets see bump as Fed raises rates Fast facts Bitcoin was changing hands at its highest point in over a week […]

Both crypto and traditional markets saw significant gains overnight Monday in Asia after the U.S. Federal Reserve announced a 75-basis point interest rate increase to battle the worst inflation in the country in some 40 years. See related article: Fed may increase interest rates amid rising inflation Fast facts Interest rates in the U.S. are […]

The crypto market shrugs off IMF’s predicted recession risk. Also, U.S lawmakers racing to introduce the stablecoin bill.

Aiming to uncover the next “BTS in finance,” Chairman Kim Joo-hyun of the Korean Financial Services Commission (FSC) is calling for “bold reforms” in financial regulations, including in crypto assets.

Venture capitalists (VCs) poured at least US$17.5 billion into the crypto and blockchain industry in the first half of this year, Reuters reported, citing PitchBook data.  See related article: Blockchain, crypto investment soars in H1 2021 Fast facts VC investments in blockchain and crypto startups topped US$26.9 billion in 2021. North American startups were at […]

Bitcoin quickly rebounded above US$21,000 coming into Asian trading hours on Wednesday after falling below the mark overnight since the International Monetary Fund (IMF) cut its global growth outlook for this year and next, warning that the world economy may soon be on the cusp of an outright recession. See related article: IMF says crypto crash […]

The International Monetary Fund (IMF) said Tuesday that the cryptocurrency market turmoil hasn’t quite affected global financial stability. See related article: Crypto volatility hasn’t had macroeconomic implications so far: Jerome Powell Fast facts In a report published Tuesday, the IMF said crypto assets have “experienced a dramatic selloff” that has led to losses in crypto […]

Bitcoin and Ether were trading lower in anticipation of an upcoming U.S. Fed meeting that is widely expected to raise interest rates by 75 basis points. See related article: Crypto market pain will continue but still bullish on Bitcoin lending: Silvergate Fast facts Bitcoin was trading at US$21,130 at 12:30 p.m. on Tuesday HKT, down […]

The bear market in digital assets hasn’t ended with more exchanges and crypto funds likely to suffer for several quarters, Alan Lane, the Chief Executive of crypto-focused bank Silvergate said. See related article: Wall Street seems to sense opportunity in distressed crypto markets Fast facts Investors should not compare the current crypto price decline to […]

The total value locked (TVL) in decentralized finance (DeFi) plunged 66.9% in the second quarter of this year amid market turmoil, according to data from DefiLlama. See related article: Sinking TRON takes DeFi TVL to US$63B, lowest since April 2021 Fast facts The DeFi space recorded US$220 billion in TVL at the beginning of the […]

Singapore-based crypto exchange Zipmex said on Thursday night Hong Kong time (HKT) it will prolong its customer withdrawal freeze until Friday “to prevent any technical issues,” without specifying a time. See related article: Singapore’s MAS to further strengthen crypto regulations Fast facts See related article: Singapore crypto lender reportedly owes retail investors US$363 million

Singapore-based Vauld owes creditors US$402 million, with 90% of the debt owed to individual investors, according to a document filed to Singapore’s High Court on July 8 by Vauld co-founder and CEO Darshan Bathija, The Block reported. See related article: Crypto trading volumes dip to 18-month low amid bear market Fast facts The troubled crypto […]

Ethereum (ETH) hit a high of US$1,610 on Tuesday morning in Asia, before retracing to trade at US$1,521 at press time, according to data from CoinMarketCap. See related article: Three Arrows, Voyager failures raise questions of who is next in crypto fall from grace Fast facts The world’s second-largest cryptocurrency by market capitalization was up […]

Following a record first half last year, investments in startups focusing on the cryptocurrency industry are down amid the so-called crypto winter, data showed.  See related article: Polkadot is top crypto held by VCs and hedge funds in Q4 2021 Fast facts Venture capital funding in crypto startups fell nearly 26% to US$9.3 billion across […]

Bitcoin recovered past US$20,000 on Thursday morning in Asia following a steep 3.4% drop within an hour following the U.S. announcing its fastest inflation growth in 41 years. See related article: Bitcoin price crosses US$22K; Fed cools recession fears Fast facts Inflation levels in the U.S. soared 9.1% in June compared to a year ago […]

Animoca Brands has raised US$75 million in a new round of fundraising in a move toward an “open metaverse,” defying plummeting markets and a drop in non-fungible token (NFT) sales during the crypto winter season, the Hong Kong-based blockchain game specialist announced on Tuesday.  See related article: Animoca says crypto winter ‘a great time’ for […]

The failure of a crypto market player may have spillover effects on traditional finance such as short-term funding markets, says the Basel-based international body.

GameStop has launched its non-fungible token (NFT) marketplace, allowing artists, gamers, content creators and community members to buy, sell and trade NFTs, the video game retailer announced on Tuesday.  See related article: eBay acquires NFT marketplace KnownOrigin Fast facts The marketplace can be accessed through Web3 wallets such as the GameStop Wallet unveiled in May. […]

Bitcoin’s price fell below US$20,000 Tuesday morning in Asia, erasing last week’s gains, as both crypto and traditional markets await the latest U.S. inflation data due on Wednesday. See related article: Bitcoin price crosses US$22K; Fed cools recession fears Fast facts The world’s largest cryptocurrency fell 4.5% in the past 24 hours to trade at […]

BTC remains a safe haven for investors for the long term amid this year’s soaring inflation and market volatility, writes Josef Tětek of SatoshiLabs.

Gains made by two of the world’s largest cryptocurrencies were partially eroded as speculation of a glut of Bitcoin from Mt. Gox’s customers and creditors and Celsius Network’s payback of its debt circulated over the weekend.

The crypto market gained along with traditional markets overnight in Asia as investors responded to updated guidance on Thursday from U.S. Federal Reserve officials claiming recessionary concerns are overblown. See related article: Bitcoin, Ether recover as Fed guidance reduces policy uncertainty Fast facts Bitcoin gained 8% to trade above US$22,000 in the past 24 hours […]

Some of Animoca Brands’ most successful investments were made during the previous crypto winter, Gen Kanai, director of strategic partnerships at the Hong Kong-based blockchain gaming studio, told Forkast. See related article: Animoca Brands investments have crossed US$1.5B Fast facts In a sit-down interview with Forkast at the IVS Crypto 2022 event held in downtown […]

Genesis Chief Executive Officer Michael Moro confirmed on Wednesday the cryptocurrency brokerage was exposed to the now-bankrupt hedge fund Three Arrows Capital (3AC). See related article: Three Arrows Capital files for Chapter 15 bankruptcy Fast facts Genesis sold collateral and hedged downside once 3AC was unable to meet margin call requirements on a loan, Moro […]

The crypto winter is killing off companies that took on big risks when markets were booming. So is this the shakeout all financial markets go through?

Jordan Belfort, the man who inspired Martin Scorsese’s film “Wolf of Wall Street” and a once-avowed crypto critic, said Bitcoin is a long play while speaking on Yahoo Finance’s show The Crypto Mile.  See related article: Bank of England calls for greater crypto regulation Fast facts The former convicted financial criminal turned famous consultant and […]

The Monetary Authority of Singapore (MAS) has “reprimanded” cryptocurrency hedge fund Three Arrows Capital (3AC) for misleading information and ignoring assets under management (AUM) limits, the central bank said in a statement on Thursday.  See related article: Three Arrows Capital lines up for liquidation Fast facts In August 2013, 3AC obtained its registered fund management […]

Bitcoin dropped below US$19,000 for the first time since December 2020 as the crypto market wrapped up Q2 with further downturns as of Friday morning in Asia. See related article: Bitcoin, crypto fall amid reports of 3AC’s court-ordered liquidation Fast facts The world’s largest cryptocurrency hit a low of US$18,729 and was trading at US$20,352 […]

Bitcoin was trading below US$20,000 in late morning trade in Asia on Thursday as reports of a court-ordered liquidation of Three Arrows Capital (3AC) added to fears of a contagion in crypto. See related article: Three Arrows Capital lines up for liquidation Fast facts The world’s largest cryptocurrency fell to as low as US$19,937.79 in […]

The U.S. Federal Reserve has created a “self-inflicted disaster” with its “twin policy errors,” Pantera Capital’s chief executive officer Dan Morehead said. See related article: Bitcoin, Ether recover as Fed guidance reduces policy uncertainty Fast facts Keeping overnight rates too low for too long was a mistake that the Fed is now beginning to slowly […]

MicroStrategy chief executive Michael Saylor announced via Twitter an additional purchase of 480 Bitcoins (BTC) for roughly US$10 million, as the company remains steadfast on its Bitcoin strategy after speculation of a margin call on a US$205 million loan.   See related article: MicroStrategy, crypto firm shares plunge with Bitcoin’s freefall Fast facts MicroStrategy, a business […]

Crypto hedge fund Three Arrows Capital (3AC) has been ordered to liquidate as plummeting crypto prices left the firm unable to repay creditors, Sky News reported. See related article: Contagion risk from Three Arrows Capital weighs on Bitcoin, crypto Fast facts A court in the British Virgin Islands appointed two senior members of global advisory […]

Top blockchain and crypto news: Three Arrows fallout spreads. BIS calls BS on crypto. Chinese regulatory vacuum chills an NFT platform.

While critics say the bubble has burst on crypto, Wall Street is moving in to take advantage of what could be some fire-sale asset prices.

Cryptocurrency is a huge Ponzi scheme, Blockchain-based Service Network (BSN) — the developer behind China’s state-backed blockchain infrastructure — said on Sunday.  See related article: China’s BSN to launch overseas public chain without crypto support Fast facts Crypto is an old hoax in a new form, Zhiguang Shan, chair of BSN Development Alliance, and Yifan […]

Investors withdrew US$423 million in funds from digital assets last week, the largest such weekly outflow on record, according to exchange data tracked by CoinShares. See related article: Crypto winter ushers in account freezes as platforms feel the chill Fast facts The outflows were almost entirely from Bitcoin (BTC), which experienced a net withdrawal of […]

Asset manager Morgan Creek Digital is trying to raise US$250 million to counter crypto exchange FTX’s bailout of beleaguered crypto lender BlockFi, according to a report by CoinDesk. See related article: Sam Bankman-Fried steps in to bail out BlockFi Fast facts Morgan Creek is attempting to raise funds to purchase a majority stake in BlockFi, […]

Testifying before the Senate Banking Committee on Wednesday, the chair of the U.S. Federal Reserve said the central bank is “not really seeing significant macroeconomic implications so far” with regard to the recent cryptocurrency volatility. See related article: Bitcoin, Ether recover as Fed guidance reduces policy uncertainty Fast facts Powell testified at the Senate Banking […]

Bitcoin dropped below US$20,000 for the third time in a week on Thursday morning in Asia as news of record inflation in the U.K. and warnings of a recession hit crypto markets. See related article: Crypto on a roller coaster as market braces for Fed guidance on rates Fast facts Bitcoin was trading down 3.5% […]

Dogecoin and Shiba Inu make gains as Elon Musks tweets support. Meanwhile, Vauld joins other crypto exchanges in axing staff.