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CoinFLEX issues recovery tokens; MAS says cryptos not currencies

CoinFLEX to solve its liquidity problems by issuing a recovery token. Meanwhile, Singapore’s central bank doubts crypto capabilities.

Welcome to The Daily Forkast – June 28, 2022 – presented by Joel Flynn.

Coming up on today’s show:

CoinFLEX to issue US$47 million in tokens as it waits for ‘crypto whale’ to pay up.

Meanwhile, Voyager Digital issues notice of default to Three Arrows Capital.

Over in the markets, investors yank US$453 million from digital assets in one week.

In China, blockchain developer BSN calls crypto a huge ponzi scheme.

And finally, the Monetary Authority of Singapore says that crypto is unlikely to perform the functions of money.

We’ll have more on those stories — and other news shaping the cryptocurrency and blockchain world — in this episode of The Daily Forkast June 28.