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    Samsung enters tri‑fold era as Galaxy Z TriFold debuts amid intense China competition
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  • Ripple expands fully licensed payment services in Singapore.

    Ripple expands fully licensed payment services in Singapore
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  • South Korea’s ruling party aims to pass Digital Asset Act in January

    South Korea’s ruling party aims to pass Digital Asset Act in January
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  • South Korea expands AML rules to crypto transfers under $680

    South Korea expands AML rules to crypto transfers under $680
    Regulation
  • Two South Korean police officers indicted for crypto bribery scheme

    Two South Korean police officers indicted for crypto bribery scheme
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  • Russian and North Korean hackers steal 2TB of data from South Korean banks

    Russian and North Korean hackers steal 2TB of data from South Korean banks
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  • South Korea’s Kakao Bank moves stablecoin project to development phase

    South Korea’s Kakao Bank moves stablecoin project to development phase
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  • Naver Financial to launch a coin wallet amid Upbit merger

    Naver Financial to launch a coin wallet amid Upbit merger
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  • South Korea’s Upbit parent Dunamu's eyes Nasdaq IPO

    South Korea’s Upbit parent Dunamu’s eyes Nasdaq IPO
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    China’s DeepSeek-R1 AI writes weaker and insecure code tied to the Communist Party’s demands
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  • Upbit adds MON as trading pairs go live in South Korea
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    South Korea eyes Taiwan cooperation to navigate US chip tariffs
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    Artificial intelligence must be human-centered, AI ethics experts reveal
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    ChatGPT launches group chats worldwide
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  • South Korean internet giant Naver to confirm plans to acquire Upbit’s parent company Dunamu
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  • Bitcoin hangs barely above $91,000 as global stocks stay muted ahead of Nvidia earnings.

    Bitcoin plunges below $89,000 as global stocks stay muted ahead of Nvidia earnings
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  • South Korea cracks down as investors pile into foreign leveraged ETFs

    South Korea cracks down as investors pile into foreign leveraged ETFs
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  • 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
  • Samsung to expand AI chip production with new Pyeongtaek line

    Samsung to expand AI chip production with new Pyeongtaek line
    Tech
  • Close to 25% of Asian Adults with internet connection might own crypto, report says.

    Close to 25% of Asian Adults with internet connection might own crypto, report says
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