New York State Assembly votes to pause crypto mining
The New York State Assembly said it passed a cryptocurrency mining moratorium bill on Tuesday, blocking new permits and expansion for proof-of-work (PoW) mining facilities using carbon-based energy sources. See related article: New York’s Bitcoin mining showdown sets stage for battles elsewhere Fast facts The bill needs approval by the New York State Senate. Existing […]
Kraken gets Abu Dhabi nod to offer full services in MENA
The Abu Dhabi Global Market (ADGM) Monday said it granted a full license to the global cryptocurrency exchange, allowing it to service customers across the Middle East and North Africa region. See related article: Dubai could be crypto’s promised land, Citi says Fast facts The license from the Financial Services Regulatory Authority (FSRA) of ADGM […]
Binance launches crypto card for Ukrainian refugees
Binance has partnered with European banking service provider Contis to launch a crypto card for Ukrainian refugees, enabling crypto payments in the European Economic Area for those displaced by the war. See related article: Russians turn to crypto as Western sanctions hit the ruble Fast facts Kirill Khomyakov, Binance’s Ukraine general manager, said the crypto […]
US charges two Europeans with helping N.Korea evade sanctions with crypto
The U.S. Department of Justice (DOJ) says it has charged Spaniard Alejandro Cao de Benos and U.K. citizen Christopher Emms with allegedly assisting former Ethereum developer Virgil Griffith in presenting the uses of crypto to avoid U.S. sanctions against the Democratic People’s Republic of Korea (DPRK). See related article: Former Ethereum developer Virgil Griffith gets […]
Binance may set up shop in G-7 country in Europe, says founder CZ
The world’s largest crypto exchange may soon establish a regulated entity in a G-7 nation in Europe, Binance founder and CEO Changpeng Zhao said Tuesday at the Financial Times Crypto and Digital Assets Summit. See related article: Binance wants to play ball with regulators Fast facts Zhao said Binance already has a standard corporate structure […]
Bitcoin, stocks fall as US dollar hits two-year high; Doge concedes top 10
Crypto and stock markets tumbled as the U.S. dollar rallied to its highest point since March 2020 amid concerns of looming interest rate hikes at the U.S. Federal Reserve. See related article: Is Bitcoin really a hedge against inflation? Fast facts The U.S. stock market fell with Nasdaq dropping by 4% on Tuesday over concerns […]
DOGE jumps on Twitter deal; Australian crypto ETFs delay
Dogecoin skyrockets as Elon Musk’s Twitter deal finalizes. Meanwhile, a Korean music platform registers NFTs patent.
Fidelity allows retirement investments in Bitcoin
Fidelity, one of the largest providers of 401(k) retirement plans in the U.S., is allowing participants to invest a piece of their retirement portfolio into Bitcoin, provided the employers allow it. See related article: Nexo and Fidelity Digital Assets expand institutional lending services Fast facts Fidelity introduced a digital assets account to hold Bitcoin, integrating […]
Zombie Zoo Keeper, Pen-Pineapple-Apple-Pen maker team up for PikoZoo NFT
Pikotaro, the Japanese singer-songwriter and creator of the 2016 global sensation Pen-Pineapple-Apple-Pen (PPAP), is teaming up with famed nine-year-old non-fungible token (NFT) artist Zombie Zoo Keeper to create a unique NFT project. See related article: Japan’s messenger app LINE launches NFT marketplace Fast facts The new music video, named “Zombie Zoo to PIKOTARO DESU,” will […]
Launch of three crypto ETFs in Australia delayed
After being on track to beat the US to the launch of a Bitcoin spot ETF, the delay is likely to undermine Australia’s desire to emerge as a top destination for digital assets in the developed world.
S.Korean music sharing platform to use NFTs for copyright protection
Koong World has been awarded a South Korean patent that utilizes non-fungible tokens (NFTs) and sound source information to enable artists to upload and share their works on its platform without fear of copyright infringement. See related article: What does Music have to do with NFTs? Fast facts The Korean Intellectual Property Office awarded Koong […]
University of the Philippines Twitter account hacked to promote NFT drop
Non-fungible token (NFT) scammers took control of the University of the Philippines’ official Twitter account on Monday evening, posting several tweets promoting a fake airdrop. See related article: Twitter hacker takes over verified accounts to promote fake Azuki NFT drop Fast facts The attackers renamed the Twitter account to “takashi murakami” — the name of […]
Chinese streaming service Bilibili enables NFT transfers
Bilibili, a video streaming platform popular with China’s Generation Z, Monday enabled non-fungible tokens (NFTs) to be transferred between users, becoming the second major Chinese tech firm to allow NFT transfers after Alibaba. See related article: China state-backed paper’s NFTs surge in price on second-hand market Fast facts Bilibili requires a 30-day gap between each […]
Indian farmers’ protest NFTs find no takers on OpenSea
Editor’s Note: A previous version of this report stated the NFT proceeds will be donated to NGO Atam Pargas. The NGO has reached out to Forkast to clarify it is not associated with the NFT project. Lekh-Haq, the organizer of the NFT has confirmed this correction to Forkast. Indian journalists and filmmakers launched farmers’ protest […]
Binance makes Russia denial; CoinDCX talk future plans
Binance categorically denies sharing client data with Russia. Meanwhile, Chinese officials push for e-CNY use at the Asian Games.
Indian banks ask for clarity on use of UPI for crypto assets
India’s leading banks have asked the National Payments Corporation of India (NPCI) to issue a formal directive that explains the curbs on money transfers using the Unified Payments Interface (UPI) for trading in virtual digital assets. See related article: Coinbase snafu sets the cat among the crypto pigeons in India Fast facts Indian banks had […]
CoinDCX double downs as the going gets tough in India
CoinDCX cofounder Sumit Gupta tells Forkast in an exclusive interview the crypto exchange that recently raised US$135 million will look to triple its headcount by the end of the year.
OCBC Bank joins MVGX in push to help firms go carbon neutral
Singapore’s OCBC Bank has partnered with MetaVerse Green Exchange (MVGX) to develop financial solutions, including tokenized carbon credits, to help large corporations offset their carbon emissions, according to a statement. See related article: Crypto exchange Gemini buys carbon offsets, pledges carbon-neutrality Fast facts The tokenized carbon credits, due to launch later this year, will use […]
China’s sports brand Li Ning to showcase Bored Ape Yacht Club
Li Ning, a leading Chinese sportswear and equipment company headquartered in Beijing, is set to release a line of clothing featuring images of the Bored Ape Yacht Club #4102, as the brand looks to take advantage of the growing popularity of non-fungible tokens (NFTs). See related article: Chinese Communist Party paper to “develop” NFTs Fast […]
No love for Putin. Binance denies sharing data with Russia
Binance, the world’s largest cryptocurrency exchange by trading volume, denied sharing client data with Russian authorities, following a Reuters investigation into the exchange’s ties with the country.
Axie Infinity hack proceeds continue to be laundered despite US sanctions
The Lazarus Group, the North Korean hacking group linked to the US$600 million Axie Infinity hack in March, is still laundering funds stolen from the hack despite sanctions imposed by the U.S. See related article: Axie Infinity blockchain Ronin hacked for over $600M Fast facts Despite U.S. sanctions, North Korean hackers have been freely laundering […]
Cryptocurrency investors in South Korea catch a break on ‘Travel Rule’
A month after South Korea adopted the Financial Action Task Force’s (FATF) travel rule, two solution providers VerifyVASP and CODE have linked their services on Monday to allow seamless access to exchanges for investors. See related article: DeFi, NFT access at stake as FATF travel rule takes effect in South Korea Fast facts The FATF […]
Hangzhou races to showcase digital yuan at Asian Games
Preparing to show off the capabilities of the digital yuan at the Asia Games is a priority from April to August, despite high possibilities of a delay in the event itself. See related article: Asian Games set for digital yuan, metaverse pilots, tech firm claims Fast facts China wants to showcase the digital yuan at […]
Crypto industry looks to the UAE; Crypto’s environmental concerns
More crypto players are eyeing the UAE as a hub. Meanwhile, a mysterious map sends Pudgy Penguin NFTs skyrocketing.
A fast one from down under: Australia approves BTC, ETH ETFs
While the cryptocurrency industry continues to wait with bated breath for a spot-traded Bitcoin exchange-traded fund (ETF) to be approved in the U.S., three separate crypto funds were given the green light in Australia this week. Australia’s ETFS Management (AUS) Ltd., or ETF Securities, launched a Bitcoin and an Ethereum fund, in partnership with Switzerland-based […]
Dubai could be crypto’s promised land, Citi says
Dubai and neighboring Abu Dhabi have been on a tear when it comes to crypto service providers moving the core of their operations there.
Be kind, rewind! South Korea’s Cyworld is back in Web 3.0 avatar
Time to dust off your Dotori. The social media platform that once reigned in South Korea is trying to make a grand comeback with in-game crypto, NFTs and the metaverse.
Hong Kong’s subway operator plans virtual station in metaverse
Hong Kong rail operator MTR Corporation announced Thursday that it will partner with The Sandbox on a metaverse project to build a subway-themed virtual world theme park. See related article: Sandcastles in cyberspace and the rise of the metaverse Fast facts The rail operator said it will partner with The Sandbox, a subsidiary of Animoca […]
South Korea approves fifth cash-to-crypto exchange
South Korea’s Financial Intelligence Unit (FIU) Thursday said it approved GOPAX as the country’s fifth digital asset exchange to provide cash-to-crypto services. See related article: South Korea’s crypto crackdown: What you need to know Fast facts Cash-to-crypto services on GOPAX starts Apr. 28. Last September, South Korea mandated strict licensing requirements for crypto exchanges to […]
US sanctions Bitriver; Apecoin steals Doge’s thunder
A Russian crypto miner has been added to the US Sanctions list. Meanwhile, Dogecoin underperforms as Apecoin storms ahead.
NFT marketplaces responsible for keeping fakes out, Chinese court rules
Under Chinese copyright law, the court ruled a marketplace’s failure to ensure the uniqueness of an NFT constituted aiding infringement.
Binance.US pulls out of Blockchain Association, sets up own influence lobby
Binance.US, the American crypto exchange set up by Binance cofounder Changpeng Zhao, will exit lobby group Blockchain Association and allocate resources to its own lobbying workforce in Washington, D.C. and state capitals, according to a media report. See related article: Binance.US wins license in Puerto Rico to fuel growth Fast facts Binance.US is establishing its […]
Caught between a rock and a hard place, Singapore tightens crypto oversight
A desire to stay in line with global anti-money laundering and anti-terrorism norms is forcing the city state’s hand when it comes to regulating cryptocurrency exchanges.
Russian crypto miner Bitriver added to US sanctions list
The U.S. sanctioned Russian cryptocurrency miner Bitriver and its 10 subsidiaries on Wednesday, in an attempt to further isolate Russia from the global economy for invading Ukraine. See related article: Russia proposes Bitcoin payments for oil and energy exports Fast facts “Russia has a comparative advantage in crypto mining due to energy resources and a […]
Australia to list crypto spot ETFs; WazirX founders leave India
Bitcoin and Ethereum ETFs are coming to Australia. Meanwhile, Dogecoin Day has fans hyped.
World Bank rescue package throws lifeline to crypto markets
Top blockchain and crypto news: Crisis response brings crypto relief. North Korea’s Lazarus Group named in Ronin hack. NFTs face new risks in China.
Alibaba extends NFT reach with its food delivery arm
Alibaba-owned Ele.me announced the launch of its first non-fungible tokens (NFTs) on Tuesday with the Hangzhou Cuisine Museum, featuring traditional Hangzhou dish cod meatballs. See related article: Chinese tech giant Huawei debuts NFTs Fast facts See related article: China’s largest broadcaster’s NFT series becomes a trilogy
Robinhood to acquire UK crypto app Ziglu in Europe expansion
Robinhood announced Tuesday it will purchase London-based crypto firm Ziglu as part of the trading platform’s global expansion. See related article: SHIB price pumps on Robinhood listing with SOL, MATIC, COMP Fast facts U.K.-based users of Robinhood can access 11 cryptocurrencies with Ziglu, earn yield, pay with debit cards, and send crypto across borders. Robinhood […]
S.Korea eyes restraints on crypto unicorn Dunamu over monopoly concerns
The Korea Fair Trade Commission (KFTC) is reportedly planning to designate local crypto exchange Upbit owner Dunamu as an enterprise subject to limitations on mutual investment, which would add more regulations to the entity. See related article: Two crypto exchanges reach unicorn status in South Korea Fast facts A company with total assets over 10 […]
India’s WazirX cofounders move to Dubai
Cofounders of the Binance-backed Indian crypto exchange WazirX have reportedly moved to Dubai amid regulatory uncertainty and taxation, local media report. See related article: India’s crypto tax will incur losses for government, says WazirX CEO Fast facts Nischal Shetty and Siddharth Menon have reportedly moved to Dubai along with their families. “Crypto has no boundaries,” […]
Binance.US wins license in Puerto Rico to fuel growth
Binance.US has obtained a money transmitter license in Puerto Rico, as the world’s largest cryptocurrency exchange continues to expand globally while seeking to become more mindful of compliance. See related article: Binance.US valued at $4.5B following first seed round Fast facts Binance.US CEO Brian Shroder on Tuesday said that Puerto Rico is an important market […]
Bitcoin and Ethereum spot ETFs landing in Australia next week
Australia’s mass retail appetite for cryptocurrency is about to be tested as two Bitcoin and one Ethereum spot exchange-traded funds (ETFs) have been approved for listing. See related article: New Australian ETF grants exposure to Bitcoin mining sector Fast facts All three ETFs are set to go live on Cboe (formally Chi-X) Exchange on April […]
US says North Korea behind Ronin hack; Binance closer to Thai business
US authorities says North Korea is responsible for Ronin hack. Meanwhile, Binance and Gulf Energy initiate joint venture.
India’s crypto shakedown be damned, CoinDCX raises $135 million
Indian cryptocurrency exchange CoinDCX’s latest funding comes as investors double down on the country’s potential to emerge as the world’s top market despite government apathy. See related story: CoinDCX’s Sumit Gupta on CBDCs, regulation and India’s potential for crypto in 2021 Fast facts Series D funding was led by Pantera and Steadview Capital, the company […]
Hyundai Motor drives into metaverse branding with Meta Kongz NFT project
Hyundai Motor plans to support its own non-fungible token (NFT) community with an initial token release in collaboration with Meta Kongz this week, and a dedicated NFT website to launch in May. See related article: 20,000 line up for South Korean convenience store’s NFTs on White Day Fast facts Hyundai Motor, South Korea’s leading automobile […]
China’s largest broadcaster’s NFT series becomes a trilogy
State-owned broadcaster China Central Television (CCTV) ‘s online branch will launch a new NFT series on Thursday to celebrate the seventh China Space Day. See related article: China’s industry lobbies join NFT bashing chorus Fast facts CCTV’s first NFT collection was issued for free during Chinese New Year on Tencent’s blockchain. The second batch was […]
Binance closer to Thai business as Gulf Energy greenlights joint venture
Binance has entered into a joint venture agreement in collaboration with billionaire Sarath Ratanavadi’s Gulf Energy Development to set up a crypto exchange in Thailand. See related article: Binance wins Abu Dhabi nod for another MENA outpost Fast facts Once the joint venture is established, it will apply for a digital asset exchange license with […]
North Korea behind Ronin hack: US
The U.S. Federal Bureau of Investigation (FBI) and the Department of the Treasury allege North Korea’s Lazarus Group and APT38 were responsible for stealing cryptocurrencies worth about US$620 million off the Ethereum sidechain Ronin. See related article: Axie Infinity blockchain Ronin hacked for over $600M Fast facts The hack was perpetrated by the Democratic People’s […]
Blockchain, metaverse important for India’s growth: MP
Non-fungible tokens (NFTs) are going to be increasingly important with the rise in time spent on metaverses, Jayant Sinha, a member of parliament and Chairman of India’s Standing Committee on Finance, told The Economic Times on Monday. See related article: India to make life hell for crypto investors: MP Fast facts Sinha’s comments come at […]
China launches metaverse lab
Top-rated Tsinghua University Friday established China’s first metaverse culture laboratory to promote the study and development of the country’s growing metaverse space. See related article: China will soon have its first bachelor’s program in blockchain. Why isn’t the talent-starved industry more excited? Fast facts The new laboratory will be used for research in the future […]
Xiamen issues China’s first blockchain-based commemorative subway ticket
Xiamen, a major city in China’s southeastern province Fujian, Friday issued China’s first batch of digital commemorative subway tickets based on Alibaba’s blockchain, AntChain. See related article: More courts in China accept blockchain-stored evidence Fast facts The digital ticket bears a likeness to a decorative metal badge, and is themed with a combination of Xiamen […]
Bitcoin mining difficulty drops amid market turmoil
Bitcoin miners saw a 1.26% drop in mining difficulty on Thursday, the third time this year, while the price fell to less than US$40,000. See related article: Cryptos slump over inflation, Shanghai lockdown and war concerns Fast facts The mining difficulty level is now at 28.23 trillion at block height 731,808, after it saw an […]
India’s crypto exchanges switch to P2P, bank transfers
Crypto exchanges in India are switching to facilitating user-to-user bank transfers and inward remittances to work around a withdrawal of support from the developer of the country’s ubiquitous UPI payments system, local media report. See related article: Coinbase snafu sets the cat among the crypto pigeons in India Fast facts Indian cryptocurrency exchanges are trying […]
Chasing my first crypto wallet down a rabbit hole
In Part 1 of a special Forkast series, crypto newcomer Joel Stein dips a toe into Bitcoin and Doge by opening his first-ever crypto wallet.
Chinese state media calls for wider e-CNY adoption
Xinhua News Agency’s affiliate newspaper, Economic Information Daily, Thursday published an op ed suggesting measures for the further adoption of the digital yuan. See related article: The digital yuan’s de-dollarization Fast facts See related article:Hong Kong makes apt testbed for e-CNY cross-border use
Chinese Communist Party paper to “develop” NFTs
The online arm of People’s Daily said it will cooperate with state-owned enterprise China Arts and Entertainment Group to develop non-fungible tokens (NFTs) themed on Chinese traditional and modern paintings. See related article: Resist the temptation on NFTs, Chinese state-backed developer says Fast facts Announcement from the official newspaper of the Central Committee of the […]
BSN developer’s NFT warning; LINE launches NFTs
State-backed developer delivers warning on the state of NFTs in China. Meanwhile, LINE launches a NFT marketplace.
Resist the temptation on NFTs, Chinese state-backed developer says
In an exclusive interview with Forkast, the head of government-founded Blockchain-based Service Network (BSN) cautioned against packaging NFTs as investment products despite the temptation to profit off the euphoria.
Japan’s messenger app LINE launches NFT marketplace
LINE, Japan’s dominant mobile chatting app, on Wednesday officially launched its non-fungible token (NFT) marketplace LINE NFT through its Osaka-based blockchain subsidiary LVC. See related article: Asia Primed For NFT Growth Fast facts Users can purchase and trade NFTs on the platform and store them on the LINE BITMAX Wallet, which can be accessed via […]
China museum chief fences cultural relics from NFTs
China’s top government agency that oversees the development of museums has called on cultural institutions to hit the brakes when it comes to non-fungible tokens (NFTs). See related article: China’s industry lobbies join NFT bashing chorus Fast facts The National Cultural Heritage Administration Tuesday held a nationwide online symposium in Beijing on digital collectibles and […]
Crypto liquidity aggregator FLUID raises US$10 million
FLUID aims to disrupt the virtual asset market-making industry by lowering fees and latency. Fast facts Blockchain investors GSR, Ghaf Capital, and 21Shares led the round. FLUID aims to tackle a multi-trillion-dollar market problem of illiquidity in virtual assets. The firm wants to enhance liquidity across spot trading, derivatives, futures, synthetics, tokenized assets, and security […]
Virgil Griffith jailed; Indian exchanges disable UPI
Welcome to The Daily Forkast – April 13, 2022 – Presented by Megha Chaddah. Coming up on today’s show: Former Ethereum developer Virgil Griffith gets 63 months in prison. Coinbase snafu sets cat among the crypto pigeons in India. Huawei becomes latest of China’s tech giants to issue NFTs. We’ll have more on those stories […]
Bitcoin follows blue chips south amid market turmoil
Top blockchain and crypto news: Market contagion hits crypto. Ethereum developer pays price for bad Korea move. China whacks more crypto miners.
China’s industry lobbies join NFT bashing chorus
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).
Coinbase snafu sets the cat among the crypto pigeons in India
Coinbase’s showcasing of support by government-backed National Payments Corporation of India (NPCI) set the ball rolling on the cryptocurrency exchange being yanked from the ubiquitous Unified Payments Interface (UPI).
Chinese tech giant Huawei debuts NFTs
Huawei’s cloud computing arm Tuesday airdropped the brand’s first batch of non-fungible tokens (NFTs), making it the latest Chinese tech giant to join the trend. See related article: China’s Xpeng joins the bandwagon in selling NFTs on Alibaba Fast facts See related article: China’s Communist Party wants to regulate NFTs
SFC allows HK’s MaiCapital to manage 100% digital-assets portfolio
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 […]
Indian taxes hit trading; Bored Apes movie debut
India’s crypto tax continues to break the crypto industry’s back. Meanwhile, Bored Apes are set to have a movie debut.
Cryptos slump over inflation, Shanghai lockdown and war concerns
Bitcoin and Ethereum were down more than 5% each in Asian trading hours as cryptocurrency markets slumped in lockstep with traditional assets.
India tax breaks crypto’s back
Trading volumes at India’s major cryptocurrency exchanges slumped to their lowest in years after new taxes kicked in on April 1, according to research by Crebaco. See related article: Coinbase’s India launch hits road bump Fast facts U.S. dollar trading volume dropped by 72% on WazirX, 59% on ZebPay, 52% on CoinDCX and 41% on […]
T Scientific to acquire 60% of S.Korean crypto exchange Hanbitco for $19.5 mln
South Korean mobile services company T Scientific announced Monday it will purchase a 60.36% stake in PlutusDS, the operator of local cryptocurrency exchange Hanbitco. See related article: South Korea crypto exchange underdogs: Where are they now? Fast facts T Scientific, a South Korean company specializing in the provision of mobile coupons and mobile commerce services, […]
China’s Xpeng joins the bandwagon in selling NFTs on Alibaba
Chinese electric vehicle maker Xpeng is selling “digital collectibles” as part of its marketing campaign to mark the 100,000th rollout of a complete vehicle. See related article: Lamborghini’s last all-gas Aventador to be auctioned with NFT Fast facts See related article: China’s Communist Party wants to regulate NFTs