Your bank is using your money. You’re getting the scraps.WATCH FREE

News

CZ: Binance will reinvest on the US market, if its $4.3B fine is reversed.
#News
2 mins read
5 months ago

CZ: Binance will reinvest on the US market, if its $4.3B fine is reversed

Arthur Hayes sends 700 ETH to B2C2, on-chain data shows.
#News
2 mins read
5 months ago

Arthur Hayes sends 700 ETH to B2C2, on-chain data shows

Asia Pacific set for major tech deals as markets hit four-year peak.
#Tech
2 mins read
5 months ago

Asia Pacific set for major tech deals as markets hit four-year peak

Michael Saylor's Strategy is currently trading below NAV, which could lead to Bitcoin's fatal crash.
#News
3 mins read
5 months ago

Michael Saylor’s Strategy is currently trading below NAV, which could lead to Bitcoin’s fatal crash

Nick Szabo warns Bitcoin is not fully trustless.
#News
2 mins read
5 months ago

Nick Szabo warns Bitcoin is not fully trustless

Chinese soybean buying falls short despite trade deal promises.
#Economy
3 mins read
5 months ago

Chinese soybean buying falls short despite trade deal promises

Hong Kong tests real-value transactions using tokenized deposits pilot.
#News
3 mins read
5 months ago

Hong Kong tests real-value transactions using tokenized deposits pilot

Hyperliquid whale goes long on a basket of altcoins, is a recovery coming?
#News
2 mins read
5 months ago

Hyperliquid whale goes long on a basket of altcoins, is a recovery coming?

Galaxy Digital says institutional Bitcoin investors ignore Core vs Knots fight.
#News
3 mins read
5 months ago

Galaxy Digital says institutional Bitcoin investors ignore Core vs Knots fight

US asset owners are not living in a recession; everyone else is.
#News
3 mins read
5 months ago

US asset owners are not living in a recession; everyone else is

India and China pad crude imports, offering relief for freight‑wrecked oil markets.
#Economy
3 mins read
5 months ago

India and China pad crude imports, offering relief for freight‑wrecked oil markets

DOJ pushes back against acquittal bid in Tornado Cash Case.
#News
3 mins read
5 months ago

DOJ pushes back against acquittal bid in Tornado Cash case

#Business
2 mins read
5 months ago

China’s Geely sees Q3 net profit surge 59% to $538 million on EV momentum

Trump backs bill authorizing a 500% tariffs on nations trading with Russia.
#Economy
3 mins read
5 months ago

Trump backs bill authorizing a 500% tariffs on nations trading with Russia

Cardano hodler blows $6M in single stablecoin error
#News
2 mins read
5 months ago

Cardano hodler blows $6M in single stablecoin error

U.S. chip ban boost China’s AI darling Chen Tianshi to $23 billion valuation
#Tech
3 mins read
5 months ago

U.S. chip ban boost China’s AI darling Chen Tianshi to $23 billion valuation

#News
3 mins read
5 months ago

Zcash surges past $700 as Bitcoin maxis slam privacy rally

Samsung shares jump 3% as company pledges $310B investment
#Business
2 mins read
6 months ago

Samsung shares jump 3% as company pledges $310B investment

Japan's Nikkei hits 3-year high on tech rally
#News
2 mins read
6 months ago

Japan economy sees 1.8% GDP drop in Q3

Korean finance giant revamps leadership to boost AI-driven global expansion
#Tech
3 mins read
6 months ago

Asia’s AI expansion surges as PDG pours $700M into Korea

Gold fanatic Peter Schiff compares Alex Mashinsky to Bernie Madoff, says the government acted too late for Celsius clients.
#News
2 mins read
6 months ago

Peter Schiff blasts Strategy as fraud and challenges Saylor to debate

#Tech
2 mins read
6 months ago

Peter Thiel sells 537,000 Nvidia shares, trims Tesla stake with no explanation

Japan’s banks eye crypto comeback as regulator rethinks ban
#Regulation
2 mins read
6 months ago

Japan on track for crypto tax overhaul as Bitcoin nears financial‐product status

#Economy
3 mins read
6 months ago

Treasury’s Scott Bessent says U.S.-China rare earths deal expected by Thanksgiving

#Live Updates
1 mins read
6 months ago

Bitcoin plunges to $91,000 as Dow tumbles more than 550 points, losses led by Nvidia

South Korea lands $86B Hyundai spending pledge tied to new U.S. trade terms
#Business
3 mins read
6 months ago

South Korea lands $86B Hyundai spending pledge tied to new U.S. trade terms

Australia immediately presses for additional trade wins after Trump's beef tariffs relief
#Economy
3 mins read
6 months ago

Australia immediately presses for additional trade wins after Trump’s beef tariffs relief

Trump buys $82 million in bonds of Meta, Intel Broadcom, and Qualcomm among others
#Business
2 mins read
6 months ago

Trump buys $82 million in bonds of Meta, Intel, Broadcom, and Qualcomm among others

China’s stocks lure global money once again
#Economy
2 mins read
6 months ago

China’s stocks lure global money once again

South Korean exchanges are facing mounting earnings pressure as a sharp market decline has stalled trading volumes. In a statement shared by industry officials on Sunday, the slump marks a stark reversal of fortunes from the third quarter, where soaring crypto prices triggered record profits. According to disclosures filed with the Financial Supervisory Services, Dunamu, operator of Upbit, posted 235.3 billion won ($161.7 million) in operating profits. The figure represents an increase of 180% from a year earlier. The firm’s revenue jumped by 104% to 385.9 billion won, while net income quadrupled to 239 billion won. Bithumb also experienced a surge, seeing its operating profits rise eightfold to 70.1 billion won. Revenue increased by 184% to 196 billion won, while net income hit 105.4 billion won, representing a 34-fold rise. Korean exchanges face earnings pressure According to reports, both Upbit and Bithumb attributed their strong quarter to the rebound in the prices of digital assets and a rise in trading activity. Market sentiment also appeared to improve on signs of United States legislative progress, including the approval of the Guiding and Establishing National Innovation for United States Stablecoins Act, also known as the GENIUS Act. In addition, the sentiment was also lifted by Ethereum’s rally and the growing expectation of a US Federal Reserve interest rate cut. However, momentum has since stalled. Bitcoin slid below $95,000 on Saturday, its lowest level in the past six months and 25% off its October 6 peak of $126,210. The market has now moved to an extreme fear territory, according to market tracker CoinMarketCap. A few of the headwinds escalating things include the persistent trade tensions between the United States and China, fading hopes for the Fed’s rate cut next month, and a $100 million Ethereum hacking incident that is affecting investor confidence. Some traders are presently questioning whether a new crypto winter is beginning, as a result of the drying trading activity. Exchanges remain at the mercy of volatility According to CoinGecko, the combined daily average trading volume on Upbit and Bithumb stood around $1.88 billion from November 1 through Friday, the lowest level so far since the beginning of this year. The figure peaked at $7.8 billion in January, bottomed out at $2.2 billion in June, and has since been hovering between the $3 billion and $4 billion mark. These developments are expected to deliver a significant blow to the operations of domestic cryptocurrency exchanges. Trading fees make up most of their revenue, 98.2% for Dunamu and 98.3% for Bithumb. In response to the shortfall, these exchanges have been rushing to list new digital assets in an effort to keep their investors engaged. In a report from digital analytics platform APYWA, from January 1 to Friday, Korea's top five exchanges, Korbit, Coinone, GOPAX, Upbit, and Bithumb, have all listed about 391 tokens, up 47% from all of 2024. In the report, the platform mentioned that the exchanges accelerated the pace of their listings in the second half of the year. Still, it reports that volumes have remained weak as the market trades sideways. "Without alternative revenue streams, exchanges will remain at the mercy of market volatility," an industry official said. "While the phased approval of corporate participation in the crypto market is seen as a positive signal, long-term sustainability will require regulatory reforms that allow for greater business diversification.” It remains to be seen how these exchanges hope to trigger a shift in trading activities, as they hope that digital assets return to winning ways.
#News
2 mins read
6 months ago

Korean crypto exchanges face earnings pressure as trading volumes stall

Samsung to expand AI chip production with new Pyeongtaek line
#Tech
3 mins read
6 months ago

Samsung to expand AI chip production with new Pyeongtaek line

Japan clarifies that stimulus plan will top $110 billion (¥17 trillion)
#Economy
3 mins read
6 months ago

Japan clarifies that stimulus plan will top $110 billion (¥17 trillion)

South Africa’s illicit gold network booms as prices climb nearly 60%
#Economy
3 mins read
6 months ago

South Africa’s illicit gold network booms as prices climb nearly 60%

Hollywood split over creative future amid rise of AI
#Tech
3 mins read
6 months ago

Hollywood split over creative future amid rise of AI

Indian police arrest criminals posing as Microsoft support staff to steal crypto
#News
3 mins read
6 months ago

Indian police arrest criminals posing as Microsoft support staff to steal crypto

Adriana Kugler flagged for improper trades during her tenure on the Federal Reserve Board
#Economy
3 mins read
6 months ago

Adriana Kugler flagged for improper trades during her tenure on the Federal Reserve Board

Iran wants to use crypto to bypass sanctions
#News
3 mins read
6 months ago

Iran wants to use crypto to bypass sanctions

Musk teases AI-driven ad makeover and timeline upgrades on X
#Tech
2 mins read
6 months ago

Musk teases AI-driven ad makeover and timeline upgrades on X

Kuwait warns over rising attempts to hack WhatsApp accounts
#Tech
2 mins read
6 months ago

Kuwait warns over rising attempts to hack WhatsApp accounts

ORCL, PLTR, SMCI among most oversold stocks in US markets
#News
3 mins read
6 months ago

ORCL, PLTR, SMCI among most oversold stocks in US markets

SEARCH
Top Sections
Follow us
Twitter Instagram Linkedin Telegram Facebook Youtube Reddit
Subscribe to CryptoPolitan