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Bithumb

South Korea emerges as the main hub for altcoin activity.
#News
2 mins read
4 days ago

South Korea emerges as the main hub for altcoin activity

#News
2 mins read
1 week ago

Upbit, Bithumb look to courts for wins as regulators pressure local exchanges

South Korea's FSC unveils no-nonsense regime in fallout from Bithumb's $40B accident
#Regulation
2 mins read
2 weeks ago

South Korea’s FSC unveils no-nonsense regime in fallout from Bithumb’s $40B accident

Bithumb's CEO tipped to survive regulatory storm that took down Upbit exec
#News
3 mins read
2 weeks ago

Bithumb’s IPO now likely in 2028 after $43B mishap

Bithumb's CEO tipped to survive regulatory storm that took down Upbit exec
#News
2 mins read
4 weeks ago

Bithumb’s CEO tipped to survive regulatory storm that took down Upbit exec

South Korean agencies struggle with digital asset security as $21.5M BTC is sold.
#News
3 mins read
1 month ago

South Korean agencies struggle with digital asset security as $21.5M BTC is sold

Stablecoins to stay banned despite South Korea lifting corporate digital asset embargo    
#News
2 mins read
1 month ago

South Korea’s FIU censures Bithumb CEO amid a 6-month partial suspension of operations

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BTC investors brace for impact as South Korea limits exchange ownership.
#News
3 mins read
1 month ago

BTC investors brace for impact as South Korea limits exchange ownership

#News
3 mins read
2 months ago

South Korea’s FSC to move on Bithumb BTC accident, ‘global consistency’ in regulatory framework 

South Korea mandates crypto custody reform after police lose $1.4M in seized BTC
#News
2 mins read
2 months ago

South Korea mandates crypto custody reform after police lose $1.4M in seized BTC

South Korea’s FSS flags smishing scams after Bithumb Bitcoin transfer error
#News
3 mins read
2 months ago

South Korea’s FSS flags smishing scams after Bithumb Bitcoin transfer error

South Korean MPs question Bithumb CEO in Parliament hearing over how $40B Bitcoin blunder
#Regulation
2 mins read
2 months ago

South Korean MPs question Bithumb CEO in Parliament hearing over how $40B Bitcoin blunder

South Korea to ramp up crypto oversight to curb market manipulation
#News
3 mins read
2 months ago

South Korea to ramp up crypto oversight to curb market manipulation

Dunamu's appeal halts the 35.2 billion won Upbit penalty temporarily.
#News
3 mins read
2 months ago

Dunamu’s appeal halts the 35.2 billion won Upbit penalty temporarily

South Korea's FSC unveils no-nonsense regime in fallout from Bithumb's $40B accident
#News
3 mins read
2 months ago

Bithumb recovers 99.7% of BTC after promo error

Korean regulators launch emergency probe into Bithumb after 60 trillion won Bitcoin error.
#News
2 mins read
2 months ago

Korean regulators launch emergency probe into Bithumb after 60 trillion won Bitcoin error

Bithumb's CEO tipped to survive regulatory storm that took down Upbit exec
#News
2 mins read
2 months ago

Bitcoin dips 20% on Bithumb after 2,000 internal reward distribution error

South Korean regulators launch investigations into suspected price manipulation of ZKsync.
#News
2 mins read
2 months ago

South Korean regulators launch investigations into suspected price manipulation of ZKsync

#News
3 mins read
2 months ago

South Korea’s KFTC probes Bithumb over potentially misleading liquidity claims

South Korean charities prefer one-click crypto donations.
#News
2 mins read
3 months ago

South Korean charities prefer one-click crypto donations

South Korean crypto exchange group DAXA pushes back against FSC's 15-20% cap.
#Regulation
2 mins read
3 months ago

South Korean crypto exchange group DAXA pushes back against FSC’s 15-20% cap

South Korea's public, private sectors stoke foreign interest in crypto markets
#Regulation
2 mins read
3 months ago

South Korea’s FSC weighs freezing crypto assets to curb market manipulation, report says

ZK goes vertical after Upbit listing
#News
2 mins read
3 months ago

ZK goes vertical after Upbit listing

Bithumb faces major AML penalties amid crackdown
#News
2 mins read
4 months ago

Bithumb faces major AML penalties amid crackdown

South Korea’s Digital Asset Basic Act faces delay following stablecoin disputes
#Regulation
3 mins read
4 months ago

South Korea’s Digital Asset Basic Act faces delay following stablecoin disputes

Build on Bitcoin price doubles ahead of Bithumb listing.
#News
2 mins read
5 months ago

Build on Bitcoin price doubles ahead of Bithumb listing

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
5 months ago

Korean crypto exchanges face earnings pressure as trading volumes stall

South Korea’s fight against crypto crime exposes glaring AML gaps
#News
4 mins read
5 months ago

South Korea’s fight against crypto crime exposes glaring AML gaps

South Korea’s FSC refers two crypto manipulation cases to authorities
#News
3 mins read
5 months ago

South Korea’s FSC refers two crypto manipulation cases to authorities

#News
2 mins read
6 months ago

Binance cleared to take majority stake in GOPAX

#News
2 mins read
7 months ago

South Korea’s FIU investigating Bithumb over order book sharing with Australian exchange

South Korea to join OECD’s crypto-asset reporting framework.
#Regulation
2 mins read
8 months ago

South Korea to join OECD’s crypto-asset reporting framework

South Korea launches probe into crypto exchange fee structures
#News
3 mins read
10 months ago

South Korea launches probe into crypto exchange fee structures

Bithumb grabs 25% of Korea’s crypto market ahead of $1B IPO
#News
2 mins read
11 months ago

Bithumb grabs 25% of Korea’s crypto market ahead of $1B IPO

Wemix token plunges 60%, South Korean exchanges plan to delist
#News
2 mins read
12 months ago

Wemix token plunges 60%, South Korean exchanges plan to delist

South Korea's Bithumb announces corporate restructuring in Q3, XRP tanks 2% on the exchange
#News
3 mins read
12 months ago

South Korea’s Bithumb announces corporate restructuring in Q3, XRP tanks 2% on the exchange

South Korean crypto market awaits institutional activity as retail goes risk-off
#News
2 mins read
1 year ago

South Korean crypto market awaits institutional activity as retail goes risk-off

South Korean crypto investors surpass 16 million.
#News
3 mins read
1 year ago

South Korean crypto investors surpass 16 million

Google implements domestic access restrictions on 17 exchanges not registered in South Korea.
#News
2 mins read
1 year ago

Google implements domestic access restrictions on 17 exchanges not registered in South Korea

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