The price of bitcoin, the number one cryptocurrency by market cap, has crashed.Bitcoin was traded for 10.37 million won (US$8,645.61) as of 6:20 a.m. on Sept. 25, down a whopping 10.87 percent from a day ago, according to Seoul-based cryptocurrency exchange Bithumb. The figure dropped as much as 1.2
South Korean blockchain startups are listing their cryptocurrencies on overseas exchanges one after another. Foreign exchanges have opened the Korean won money market to attract South Korean cryptocurrency projects.The number of South Korean companies listing their early-stage blockchain projects on
The Financial Action Task Force (FATF) urged the financial authorities of the member states to regulate cryptocurrency exchanges in the same manner they regulate commercial banks in order to prevent cryptocurrencies from being misused for illegal transactions. This has put nearly 200 South Korean cr
The price of Bitcoin has recovered to the 10 million won (US$8,435) range.The rebound is attributed to an increasing number of investors injecting money into cryptocurrencies amid increased variability in the global economy and global companies' moves to bring the virtual coin into the financial
The price of Bitcoin, which has recently risen steadily, has surpassed the 9 million won (US$7,579) mark. Bitcoin was being traded at 9,466,000 won (US$7,971) as of 2 p.m. on May 14, up 13 percent, from the previous day, according to Bithumb, one of South Korea's leading cryptocurrency exchanges
Three of Korea’s top four crypto exchanges posted a loss last year as the market prices of major cryptocurrencies fell sharply. Upbit was the only one which recorded a net profit of more than 100 billion won (US$87.95 million) despite a loss caused by the decline in cryptocurrency prices. This was l
Although the cryptocurrency market cooled down last year, Bithumb, South Korea’s largest cryptocurrency exchange, saw its sales increase. However, it posted a loss as the prices of its cryptocurrency assets, including Bitcoin, fell sharply.Bithumb's sales came to 391.70 billion won (US$343.14 mi
As a hack took place even in Bithumb, the largest cryptocurrency exchange in South Korea, investors are becoming anxious. A spokesperson of Bithumb said, “It is not a hack carried out by an outsider but by an insider.” About 14 billion won (US$12.31 million) worth of cryptocurrencies were aberrantly
Members of Bithumb, the largest crypto asset exchange in South Korea, will now be able to pay with “Bithumb cash” on an online duty free shop.Bithumb announced on March 28 that it has formed a partnership with Shinsegae Duty Free and started the “Bithumb cash” payment service on online Shinsegae dut
The cryptocurrency of Israeli blockchain project ORBS, which has cooperated with South Korean companies such as Kakao, Samsung SDS and YES24, is planned to be listed on Bithumb. The date of listing is yet to be determined. ORBS is planning to issue its cryptocurrency on March 28 with mainnet launchi
South Korean cryptocurrency exchange Bithumb announced on Feb. 12 that it has recently signed a memorandum of understanding (MOU) with Abu Dhabi-based N-VELOP to establish a joint venture cryptocurrency exchange in the United Arab Emirates (UAE).The two sides aim to establish the first authorized fi
South Korea’s four largest cryptocurrency exchanges -- Bithumb, Coinone, Korbit, and Upbit -- has announced a joint initiative to increase anti-money laundering (AML) efforts and foster a healthier trading environment.A hotline dedicated to AML issues will be established amongst the four exchanges’
Blockchain companies are entering the payment market, applying cryptocurrencies to so-called simple payment systems that allow people to pay without credit cards or cash.A recent report from Chain Partners, a Korean cryptographic investment company, notes that the Japanese government is expected to
Korean blockchain and cryptocurrency companies are entering the competition in the simple payment market.Dunamu, the company behind South Korea’s cryptocurrency exchange platform Upbit, plans to allow partner companies of its “Luniverse” blockchain platform to build a main net, or an independent blo
The cryptocurrency market is tumbling with no sign of a recovery. The price of Bitcoin price fell to the 4 million won range, the lowest level in 2018.According to Bithumb, a virtual currency exchange based in Korea, the price of Bitcoin fell 10.90 percent to 3,866,000 won at 3:30 p.m. on Dec. 7. In
As “security token offerings (STOs),” which refer to issuances of cryptocurrencies using traditional assets, such as real estate, stocks and paintings, as collateral, have emerged as an alternative to initial coin offerings (ICOs) for the cryptocurrency industry, STO-related technology platforms and
The price of Bitcoin has slid to its lowest level of the year. Investors went on a selling spree as there were growing instabilities in Bitcoin Cash, one of the major cryptocurrencies, and the U.S. financial regulator cracked down on companies that sold digital tokens in an initial coin offering (IC
The price of cryptocurrencies, including Bitcoin, all took a tumble. This was largely due to technical factors ahead of the upgrade of Bitcoin.According to Bithumb and CoinDesk on Nov. 15, Bitcoin was traded at the 6.5 million won (US$5,747) level as of 3:00 p.m., down 10 percent from 7.2 million wo
Bithumb, the biggest cryptocurrency exchange in South Korea, has been excluded from a global cryptocurrency exchange ranking on the grounds that it is highballing its transaction volume.Bithumb is suspected of generating a considerable amount of transactions through promotion events in which it retu
Korean cryptocurrency exchange Bithumb will make a foray into the United States where Bitcoin originated.Bithumb announced on Nov. 1 that it has signed a contract with U.S.-based fintech company seriesOne to establish a securities-type token exchange, a kind of cryptocurrency exchange, next year.Sec