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Asia
China's Warning to Miners Sends a Chill Across the Crypto Markets
Beijing's warning to miners is being blamed for bitcoin's tumble back down to $32K. The Asian crypto markets are spooked. The crypto exchange and mining operation Huobi says it will suspend new accounts in China and scale back its mining operations. Angie Lau of Forkast News joins "First Mover" to update the state of crypto in Asia.
China's Crypto Warning and Impact on Crypto Prices
China's warning about crypto investing is being blamed by many as the reason for this week's bitcoin slide, but Darius Sit, the co-founder of Singapore-based QCP Capital, says the warning is nothing new. Sit joins "First Mover" to discuss the Asian crypto markets and the latest market moves. Plus, he explains his cautious outlook on crypto in the second half of the year.
Crypto Market Rebound; Sotheby’s Next NFT Auction Targets Millennial Spenders
The total global cryptocurrency market cap bounces back and is flirting around $1.8 trillion. Experts tell Forkast.News that bitcoin is acting as a “safe haven” for the market, and ether’s long-term potential may be more attractive for some.
Crypto Chaos Continues; Mass BTC Liquidations in Exchanges Across Asia
The Asian crypto markets continued to struggle as investors turned towards stablecoins to minimize losses. Mass BTC long positions were liquidated across exchanges in Asia, but Singapore-based Bybit tells us that the numbers don’t tell the full story. Meanwhile, decentralized finance lending protocol Maple Finance brings DeFi to institutions.
Blood Bath in Asia Crypto Markets; China Sends Another Crypto Warning
The crypto market nosedives as bitcoin dips below $40K for the first time since Feb. 8, the day when Tesla’s $1.5 billion bitcoin purchase was made public. The market plunge follows the newest warning to crypto trading in China, reminding banks and online platforms cannot provide crypto services. Inner Mongolia banned cryptocurrency mining earlier this year. Now, it’s setting up a reporting platform to catch miners that aren’t following the rules. We’ll have more on that story and other news shaping the cryptocurrency and blockchain world in this episode of "The Daily Forkast."
DBS Launches Bank-Backed Crypto Trust Service in Asia First
The bank becomes the first in Asia to offer crypto trust services providing custody and trading.
Meme Culture Driving Rise of 'Memecoins' in Asian Markets
Asian crypto exchange OKEx is listing various memecoins, including the dogecoin alternative Shib coin (SHIB). Lennix Lai, OKEx's Director of Financial Markets, joins "First Mover" to discuss the rise of memecoins in Asia and the impact of Ethereum creator Vitalik Buterin's massive memecoin donation on the markets. Plus, an update on OKEx's relationship with former CEO Star Xu.
Babel Finance Raises $40M From Zoo Capital, Sequoia Capital, Tiger Global
The investment is the first foray into Asia's crypto finance industry for Zoo, BAI Capital and Tiger Global Management.
Stablecoin Rush Breaks Out; JPMorgan, DBS and Temasek Launch Partior
Stablecoins adoption in Asia is outpacing the world as the transaction volumes of dollar-pegged crypto in the region continue their surge. JPMorgan, DBS Bank and Singapore’s sovereign wealth fund Temasek extend their Project Ubin partnership to form Partior. The new partnership will remove the pain points of cross-border payments and digitize commercial money through blockchain.
Nexon Bags $100 Million in Bitcoin; Inner Mongolia Crypto Mining Exodus
Online gaming giant Nexon added 1,717 Bitcoins worth $100 million USD into its corporate treasury, stamping the largest crypto purchase from a Tokyo Stock Exchange-listed firm. In China, the deadline for crypto miners to wrap up businesses in Inner Mongolia is inching closer. Could Europe and the United States present greener pastures?