Economy

Self-regulatory bodies overseeing China’s banking and securities industries are urging members to “resolutely curb” the “financialization and securitization” wave of non-fungible tokens (NFTs).

The development allows the city to emerge as a top destination for asset managers looking to launch cryptocurrency-themed funds for professional investors. See related article: More traditional investors are eyeing cryptocurrency to diversify their portfolios Fast facts The Securities and Futures Commission (SFC)-licensed blockchain and virtual assets manager can manage portfolios that may comprise up […]

India’s crypto tax continues to break the crypto industry’s back. Meanwhile, Bored Apes are set to have a movie debut.

Bitcoin and Ethereum were down more than 5% each in Asian trading hours as cryptocurrency markets slumped in lockstep with traditional assets.

Crypto market downturns can dredge up bad memories of ICOs. What lessons can investors learn from the past — and how is Bitcoin different?

NFTs are seen as investments rather than aesthetic collectibles to Goldman clients, while the investment bank struggles to distinguish blue chip projects from the pretenders.

Near protocol, a smart-contract enabled layer 1 blockchain, has bagged US$350 million in a funding round led by Tiger Global.  See related article: Polkadot is top crypto held by VCs and hedge funds in Q4 2021 Fast facts FTX Ventures, Republic Capital, Hashed, and Dragonfly Capital participated in the funding round led by Tiger Global.  […]

Unregulated and fragmented, DeFi remains niche, writes John Mitchell of Episode Six. Here’s how programmable money can help banks do what decentralized finance is doing.

Zilliqa is leading Thursday’s crypto market with an 80% charge over the last 24 hours, part of a 270% weekly pump since its metaverse-as-a-service platform Metapolis launch event was announced.

Azuki, an anime-inspired NFT avatar collection, surged over 140% in the past 24 hours to top Friday’s sales volume chart, surpassing Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club, according to CryptoSlam data.  See related article: Azuki, CryptoPunks battle it out for week’s top NFT title Fast facts With its latest spike, Azuki’s […]

Volatility has been the name of the game in the past few months, but experts tell Forkast that may be coming to an end.

The crypto market never sleeps, but you should take a breather, advises Ben Armstrong, aka BitBoy Crypto. Here’s how to recharge and fill your cup.

Regulation is urgently needed to govern data security and curb speculation as the metaverse industry develops, delegates say.

Look for progress reports on e-CNY, blockchain technology, new digital infrastructure, and subtle mentions of the international sanctions against Russia.

Russia’s war on Ukraine is battering crypto prices, but what does the more distant future hold for BTC and ETH? Fintech experts offer predictions.

Bitcoin’s recent slumps have been coupled with macroeconomic activities, bringing its status as an inflation hedge into question.

When the world’s biggest crypto exchange acquires a major stake in the business publication it once sued for defamation, should we worry?

Mitsubishi UFJ Financial Group (MUFG) will close its blockchain payment venture due to slow profits, Japan’s largest bank announced on Tuesday.  See related article: Japan’s Mitsubishi UFJ to issue yen-pegged stablecoin: report Fast facts MUFG said it is preparing to halt and liquidate Global Open Network Japan, Inc. (GO-NET Japan). GO-NET Japan, set up in […]

Hedera’s HBAR is leading a crypto market bounce with a 14% surge over the last 24 hours to trade at US$0.2306 on the back of the HederaStarter launch announcement as the ecosystem preps for its smart contract era.  See related article: Hedera Hashgraph provides provenance for data from Syrian war Fast facts HederaStarter is slated […]

Hong Kong prepares to launch metaverse ETF, while India tries metaverse dating on the Moon.

Investor relief at last week’s slight market rebound gave way to concerns over military tensions in Ukraine, sending crypto and traditional markets reeling.

Bitcoin led a market-wide sell-off Thursday night Asia time by losing almost 8% coming into business hours Friday Asia time, and was trading at US$40,578 at press time. See related article: Is Bitcoin’s rocky start to 2022 a sign of things to come? Fast facts All other major tokens were down around the same amount, […]

The city’s global reach, Hong Kong dollar and mainland ties make it a good fit for Chinese authorities to trial e-CNY international payments.

The Philippine Digital Asset Exchange (PDAX) has raised US$50 million in a Series B funding round led by Tiger Global.  Fast facts UBX, the venture fund of UnionBank of the Philippines, Kingsway Capital, Jump Capital, U.S. blockchain payments company Ripple, among others, also participated in the round.  The funding round started in August last year […]

Binance, the world’s largest cryptocurrency exchange, plans to take a US$200 million stake in Forbes through a private placement, making it one of the two largest shareholders of the 104-year-old business magazine. Fast facts The investment comes as Forbes seeks to go public on the New York Stock Exchange via a deal with a special […]

Decentralized finance has not yet done much real-world good, writes Ben Sheppard. But putting it to work on small infrastructure projects can do just that.

After a poor start to the year, the market needed some good news. Industry watchers urge caution.

The recent crypto price plunge has done little to rattle new investors. Are they just buying the dip, or is there more to it? Q9 Capital’s James Quinn explains.

Russian Ministry of Finance against the latest crypto ban, meanwhile in Korea, there are plans to protect metaverse users.

The global cryptocurrency market rose along with smaller gains in the broader equity and bond markets in the aftermath of a Federal Reserve Open Market Committee statement Wednesday afternoon that it would leave interest rates untouched at near zero but expects to raise them soon. As the market digested the latest report, prices began trending […]

Crypto market concerns over invasion on Ukraine;, while Thailand plans for crypto regulation.

Top blockchain and crypto news: Market chills make investors shiver. Hacking storm at OpenSea. Has Beijing tamed NFTs?

Mark Lamb of CoinFLEX takes a 20-year view of crypto and predicts ‘infinitely bigger’ growth than imagined today, with stablecoins leading the transformation.

Korea will include virtual assets in its financial survey, while China’s central bank hunts for CBDC talents.

Bitcoin and Ethereum fall below psychologically important levels as rising uncertainty clouds markets. Is the Fed also depressing crypto’s prospects?

Global NFT sales are exploding in 2022, but experts predict this is only the beginning of a bigger surge in Asia.

Hyundai Card vice president Chung Tae-young said on Wednesday the rise of NFTs (non-fungible tokens) and the metaverse is helping crypto to move past the Dutch tulip mania stage. Fast facts “Although there might be ups and downs, it seems cryptocurrencies are passing the ‘Dutch tulip stage,’” Chung wrote in a Facebook post.  Hyundai Card, […]

Savvy cryptocurrency investors now know what the biggest players have long done, writes Michal Cymbalisty of Domination Finance — ‘buying the f* dip!’

If you’re intrigued about Bitcoin’s price history or Ethereum’s all-time highs, you might be wondering if you’re missing out on financial gains. To explore how to get started in investing in cryptocurrency, Forkast has created a quick explainer video on what to do and the options. What you’ll learn: What are the two types of […]

Korean prosecutors demand life, as HK plans new crypto regulation.

Taiwanese’s superstar Jay Chou’s NFT dethrones Bored Ape Yacht Club. Meanwhile Bitcoin dips below US$40k mark.

The 2022 crypto market has had a tough start as Bitcoin and Ethereum dipped below significant price points. But crypto experts say it’s not all doom and gloom.

Federal Reserve Chairman Jerome Powell will reiterate his pledge to prevent entrenched inflation, in testimony released before his Senate nomination hearing on Tuesday.  Fast facts “We will use our tools to support the economy and a strong labor market and to prevent higher inflation from becoming entrenched,” he said in a statement prepared for delivery. […]

Hyundai plans to open a “Meta-Factory”, meanwhile crypto divergence ahead for the year 2022.

Bearish concerns over Federal Reserve rate hikes show a continued correlation with traditional markets, but industry watchers see changing dynamics at play.

Yuval Rooz of enterprise blockchain company Digital Asset Holdings, predicts traditional banks like JPMorgan and Goldman Sachs will tokenize more assets to provide more privacy and scalability.

Love it or hate it, Bitcoin can be a powerful force for good — and it’s here to stay, writes Peter Vessenes, co-founder of The Bitcoin Foundation.

2021 was a big year for crypto. As we enter a new year, Forkast.News asks market watchers what might be in store for the next 12 months.

In December 2020, Stefan Rust successfully predicted a ‘Cambrian Explosion’ of crypto tokens. Now he says 2022 will be when the crypto markets will be ‘flooring out.’

2021 will go down as the year the DeFi giant woke up, writes Derek Alia of Futureswap. What lies in store for decentralized finance in the year to come?

Brinc, a Hong Kong-headquartered venture capital focused on Web 3.0, today announced that it has secured US$30 million in a Series B round and an additional US$100 million for startup investments. The funding was led by Animoca Brands — a Hong Kong-based blockchain gaming, metaverse and non-fungible token (NFT) company — to further fuel Brinc’s investment in […]

Macroeconomic factors and a spate of bad news override bullish outlook in crypto market as the year lurches toward its end.

Crypto 1 Acquisition Corp., a U.S.-incorporated blank check company, has completed its initial public offering (IPO) with gross proceeds of US$230 million, according to a company statement released Friday. Fast facts The company’s units commenced trading on the Nasdaq Global Market under the ticker symbol “DAOOU” on Dec. 7. Acting as a special purpose acquisition […]

It’s come full circle: Shiba Inu holders can now spend their SHIB at GameStop — the company that helped trigger the memecoin trend.

$30 million worth of SHIB stolen in BitMart hack sparks hunt for the dognapper, as ecosystem developments fail to return Shiba Inu coin to its former glory.

Banks releasing new stablecoin project meanwhile better watch for Fed taper in 2022

Animoca Brands — a Hong Kong-based blockchain gaming, metaverse and non-fungible token (NFT) company — said it held US$15.87 billion worth of digital assets at the end of November, reflecting robust growth in its metaverse business units. Fast facts Animoca Brands said in a statement released Wednesday that in the first three quarters of this […]

OpenSea IPO plans in choppy waters. Crypto markets crumble. Bitcoin mining power struggles.

South Korean game shares fell sharply, just a few weeks after announcements of new NFT metaverse ventures sent the shares up.

For the second weekend in a row, markets were hit with a massive shock due to external factors. Market watchers weigh in on price movements and what to expect.

Hollywood executive producer Niels Juul, who produced “The Irishman,” has founded a new startup called NFT Studios, in hopes of fully funding a film with non-fungible tokens (NFTs). Fast facts The startup’s first film, “A Wing and a Prayer,” will be based on the true story of Brian Milton, the first man to fly around […]

Griid Infrastructure, a U.S.-based Bitcoin mining company, is set to go public through a merger with Adit EdTech Acquisition Corp., a special purpose acquisition company (SPAC), in a deal that would value the combined company at about US$3.3 billion, according to a company statement released Tuesday. Fast facts Upon completion of the deal, the combined […]

As the market recovers from a weekend sell-off, Terra and Shiba Inu tokens shine bright while Ethereum eyes new price heights. What’s behind their rally?

Fed chairman Jerome Powell signaled that tighter monetary policy may be coming, which sent Bitcoin price’s down slightly.

The impact was relatively short-lived, and many major tokens had already retraced most of their positions from Friday coming in Asia business hours.

U.S. Federal Reserve officials are exploring raising interest rates and pulling back on economic help extended during the pandemic if inflation continues to rise, minutes from a meeting held in early November show. Fast facts The meeting, held on Nov. 2 and Nov. 3, included the Federal Open Market Committee and the Board of Governors […]

Cardano ADA and Tron TRX will no longer be available to eToro’s US customers next year while CRO reflects Crypto.com ‘going from strength to strength.’

OliveX, a digital health and fitness company listed on the national stock exchange of Australia (NSX), today announced it will be raising AUD$8 million (US$5.8 million) via a share placement with investors including Hong Kong-based blockchain gaming company Animoca Brands, One Football, a digital media platform for football, and Bombora Investment, as it builds out a […]

Amid a sea of red in crypto markets today Avalanche is bucking the trend, gaining 130% since the start of the month to reach a new all-time high of US$146.22 and leaping over Dogecoin to enter the crypto top 10. This clears that list of memecoins for the first time since Dogecoin’s historic run in […]

Crypto market cap plunges as South Korean banks head into metaverse

Bitcoin continued its downtrend today to reach a low of $55,861, its lowest price this month. The world’s first cryptocurrency has dropped by 18.6% since reaching a fresh all-time high of over US$69,000 last week. Bitcoin’s price low comes amid struggles in the overall crypto market, which has lost over US$400 billion from its total […]

Joining the slew of cryptocurrency exchanges that have completed investment rounds in recent months, New York-based cryptocurrency exchange Gemini this week announced the close of a US$400 million funding round led by Morgan Creek Digital, bringing the company’s valuation to US$7.1 billion. Fast facts Investors in the funding round — which was Gemini’s first-ever outside […]