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Finance

Cryptocurrency

Wed, October 5, 2022 | 01:23

Fears of rate hikes hit crypto market despite Ethereum Merge upgrade

Fears of external monetary uncertainty are bringing jitters to the global crypto industry despite Ethereum's much-anticipated Merge upgrade, which many critics have considered a major turning point for revving up lukewarm crypto sentiment. The world's second-largest cryptocurrency by market capitalization completed Thursday the system upgrade with an environmentally friendly ...

Lee Min-hyung | 2022-09-19 16:12

Terraform founder Do Kwon 'obviously on the run,' prosecutors say

Korean prosecutors said Sunday that Do Kwon, the wanted founder of Terraform Labs accused of fraud following the massive collapse of the firm's cryptocurrencies in May, is "obviously on the run" and not cooperating with the investigation.

2022-09-18 17:03

Do Kwon faces escalating criticism for vague comments on whereabouts

Do Kwon faces escalating criticism for vague comments on whereabouts

Do Kwon, co-founder of Terraform Labs, is drawing escalating criticism for making vague comments on his whereabouts without responding to a warrant prosecutors filed for his arrest. “I am not 'on the run' or anything similar - for any government agency that has shown interest to communicate, we are in full cooperation and we don't have anything to hide,” he said on Twitter, S...

Lee Min-hyung | 2022-09-18 14:31

Upbit's developer conference set to attract thousands of experts

Upbit, the nation's largest cryptocurrency exchange, is set to attract thousands of experts from Korea and abroad during its upcoming annual developer conference. The Upbit Developer Conference (UDC) 2022 will kick off its two-day run in the nation's southern port city of Busan on Sept. 22.

Lee Min-hyung | 2022-09-05 15:59

Crypto exchanges suffer earnings falls amid rate hikes, freezing sentiment

Korea's cryptocurrency exchanges reported drastic earnings falls in the first half of this year, hit hard by freezing investor sentiment amid global monetary tightening. According to data from the Financial Supervisory Service (FSS), Dunamu reported 785 billion won in sales during the same period, down 61.3 percent from a year ago when the crypto investment boom reached its p...

Lee Min-hyung | 2022-08-31 08:41

Will Coinone increase market share with KakaoBank?

Coinone, the nation's third-largest cryptocurrency exchange, is seeking a fresh breakthrough in a partnership with KakaoBank amid bearish market sentiment. Under the partnership, the internet-only bank will offer real-name accounts for Coinone users. The exchange aims to attract more investors, as Dunamu - the operator of the largest crypto exchange here, Upbit - did after cl...

Lee Min-hyung | 2022-08-30 16:48

Customs inspection turns up illegal cryptocurrency transactions worth $2 bil.

Seoul Regional Customs uncovered a total 2.7 trillion won ($2 billion) worth of illegal foreign exchange transactions related to cryptocurrency trading during its special inspections, the agency announced Wednesday. The special inspections focusing on cryptocurrency-related illegal foreign exchange transactions began in February. Most of the foreign exchange violations caught...

Anna J. Park | 2022-08-30 15:57

16 overseas crypto exchanges engage in illegal sales activities in Korea

Overseas cryptocurrency exchanges are engaging in illegal sales activities here without reporting their businesses to financial watchdogs. According to the Korea Financial Intelligence Unit, a total of 16 foreign crypto exchanges _ such as MEXC and KuCoin _ have allegedly violated the Financial Information Act by continuously operating their businesses without meeting the req...

Lee Min-hyung | 2022-08-25 08:20

Bitcoin feared to hit bottom again amid Fed's hawkish pivot

It is feared that major cryptocurrencies might tumble to a new low this year again amid diminishing investor sentiment after the U.S. Fed reiterated its hawkish pivot. Prices of Bitcoin and Ethereum hit the bottom in June and have since shown signs of recovery on then-reviving sentiment, with investors now expecting the Fed to slow down the pace of monetary tightening.

Lee Min-hyung | 2022-08-23 15:54

Authorities to ban access to unauthorized foreign crypto exchanges

The Korea Financial Intelligence Unit (KoFIU) has urged caution on the part of local clients of overseas cryptocurrency exchanges to verify whether they have been registered under the Korean financial authority. The KoFIU announced a total of 16 virtual asset service providers (VASPs) on Thursday, which had failed to register themselves with the financial authority, and are t...

Anna J. Park | 2022-08-18 16:21

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