South Korea opens investigation into Bithumb after $43B trading error
South Korea’s financial regulator has initiated a comprehensive investigation into the local cryptocurrency exchange Bithumb following the erroneous transfer of over $43 billion in bitcoin to consumers last week. On Tuesday, Yonhap news agency reported that the Financial Supervisory Service opted to elevate what was intended to be a regular examination into a comprehensive probe […]
Bitmine purchases $84M ETH during dip, says onchain data
BitMine Immersion Technologies acquired $83.6 million in ETH on Monday, reinforcing its investment in the future of Ethereum. Arkham Intelligence reports that the Ethereum treasury corporation purchased 20,000 ETH from FalconX at approximately 12:40 p.m. on Monday. Onchain analytics service Lookonchain said that the company acquired an additional 20,000 ETH from BitGo within a comparable […]
Binance increases SAFU holdings by $300M in BTC as prices fall
Binance acquired $300 million in Bitcoin for its SAFU reserve, elevating the fund over $720 million as the exchange transitions its emergency buffer to BTC. On Monday, Binance augmented its emergency reserves by an additional $300 million in Bitcoin, persisting with its initiative of a Bitcoin-backed protection fund amid ongoing market pressures. According to blockchain […]
South Korea plans stricter crypto rules to curb market manipulation
South Korea’s financial regulator announced it will enhance scrutiny of the cryptocurrency market and enforce stricter fines on financial institutions for IT-related issues, in response to prominent events that revealed vulnerabilities to market integrity and consumer protection. The Financial Supervisory Service (FSS) announced its annual policy agenda on Monday, which encompasses intended investigations into high-risk […]
Bitcoin’s slide to $60K fuels speculation of fund failure
Traders on X blame bitcoin’s decline to several factors, including a Hong Kong fund collapse, yen funding pressures, and concerns regarding quantum security, resulting in a complete narrative void. Bitcoin’s decline to over $60,000 on Thursday, representing an almost 30% decrease over seven days, has prompted traders on X to propose ideas suggesting that the […]