Our weekly roundup of news from East Asia curates the industry’s most important developments. China airdrops 180 million digital yuan to celebrate Lunar New Year  According to state-owned media Global Times, Chinese cities airdropped a total of 180 million digital yuan (e-CNY) worth $26.6 million to boost consumption during the Lunar New Year celebrations between...Continue Reading

The milestone comes less than two years after the launch of its mainnet. According to data from DefiLlama, Ethereum staking service Rocket Pool reached $1 billion in total value locked (TVL) on Feb. 9. The move comes less than two years after the decentralized finance (DeFi) protocol launched its mainnet on Nov. 9, 2021. Dubbed...Continue Reading

The state already has crypto miners, the bill to protect them still has to pass the house of representatives and be signed by the governor. The American state of Mississippi is one step closer to protecting the rights of cryptocurrency miners after the state senate passed the Mississippi Digital Asset Mining Act on Feb. 8....Continue Reading

The exchange will allow crypto bankruptcy claims to be traded, according to an official Twitter announcement. A crypto exchange project initially proposed by 3AC and Coinflex has now launched an official website and waitlist as of Feb. 9. Called “Open Exchange (OPNX)”, the new project alleges that it will be “the world’s first public marketplace...Continue Reading

“Kraken not only offered investors outsized returns untethered to any economic realities, but also retained the right to pay them no returns at all,” said Gurbir Grewal. Cryptocurrency exchange Kraken has reached an agreement with the United States Securities and Exchange Commission to stop offering staking services or programs. In a Feb. 9 announcement, the...Continue Reading

The funding round was led by Foundation Capital, with follow-on investment from CMT Digital. London-based digital asset protection firm Coincover has secured $30 million in a funding round led by Foundation Capital with a follow-on investment from CMT Digital. According to Coincover’s announcement, the funds will be used to scale its operations, drive recruitment, develop...Continue Reading

NFTs felt the influence of bad actors and market manipulators in 2022, like the rest of crypto; NFTs launched after the start of the crypto winter did better. A survey of 81 nonfungible token (NFT) collections on the Ethereum blockchain showed a sharp overall loss in market capitalization in 2022, according to a report from...Continue Reading

Banks are allegedly being discouraged from offering services to the crypto industry by United States authorities. United States authorities appear to be resurrecting past techniques to crackdown on crypto firms and banks offering services to the industry, several sources told Cointelegraph. The alleged strategy consists of isolating the traditional financial system from the crypto market...Continue Reading

“It is time to allow the Debtors’ customers to propose their own plan for the assets that they were defrauded into investing with Celsius,” said a Withhold account holders’ filing. The unsecured committee of creditors and others involved in crypto lending firm Celsius’ bankruptcy case have objected to a motion from the debtors delaying a...Continue Reading

The former FTX CEO’s bail restrictions will remain in place until Feb. 21 following the judge’s ruling to extend a ban on using certain messaging apps. A federal judge has reportedly rules against oral arguments proposing former FTX CEO Sam Bankman-Fried be allowed to use certain messaging apps. According to a Feb. 9 Reuters report,...Continue Reading