BTC

  • Nick Szabo warns Bitcoin is not fully trustless.

    Nick Szabo warns Bitcoin is not fully trustless
    News
  • Galaxy Digital says institutional Bitcoin investors ignore Core vs Knots fight.

    Galaxy Digital says institutional Bitcoin investors ignore Core vs Knots fight
    News
  • 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.

    Korean crypto exchanges face earnings pressure as trading volumes stall
    News
  • Indian police arrest criminals posing as Microsoft support staff to steal crypto

    Indian police arrest criminals posing as Microsoft support staff to steal crypto
    News
  • Iran wants to use crypto to bypass sanctions

    Iran wants to use crypto to bypass sanctions
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  • Bitcoin’s long game beats Ethereum’s quick moves

    Bitcoin’s long game beats Ethereum’s quick moves
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  • BNB stands out as the only large-cap gainer in Red October
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  • Crypto mining is profitable for Kyrgyzstan and will resume after winter, President says
    Regulation

  • OKX CEO Star offers a 10 BTC reward for a solid backdoor proof
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  • Crypto Fear & Greed Index drops to its lowest score since February
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  • Zcash defies market downturn, sets up BTC Maxis vs privacy clash
    News
  • Bit Digital Q3 revenue hits $30.5M as Ethereum transition gathers pace

    Bit Digital Q3 revenue hits $30.5M as Ethereum transition gathers pace
    Business
  • Public acquires Alto’s CryptoIRA to expand crypto retirement offerings

    Public acquires Alto’s CryptoIRA to expand crypto retirement offerings
    News
  • Russia enforces mining ban in Siberian regions

    Russia enforces mining ban in Siberian regions
    Regulation
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  • Russian hacker faces possible extradition to the United States

    Russian hacker faces possible extradition to the United States
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  • Is the Bitcoin crash over? Analysts eye 94K line.

    Is the Bitcoin crash over? Analysts eye 94K line
    News
  • XRP ETF attracts $243M from investors as Bitcoin and Ethereum ETFs record outflows.

    XRP ETF attracts $243M from investors as Bitcoin and Ethereum ETFs record outflows
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  • Crypto market remains bearish amid U.S. economic data uncertainty.

    Crypto market remains bearish amid U.S. economic data uncertainty
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  • Walmart, crypto firms and fintechs chase bank charters to offer full‑service financial access

    Walmart, crypto firms and fintechs chase bank charters to offer full‑service financial access
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  • BTC miners shut down older generation rigs as prices test new depths

    BTC miners shut down older generation rigs as prices test new depths
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  • 31% of Russians report struggling to afford basic groceries this year

    Russia to seek assistance from foreign exchanges when seizing crypto
    Regulation

  • Strategy moves its BTC holdings, Michael Saylor denies rumors of selling
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