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The Korea Times

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Cryptocurrency

Tue, March 28, 2023 | 14:37

FTX's reported acquisition of Bithumb boosts crypto stocks

FTX's reported acquisition of Bithumb boosts crypto stocks

Shares of Vidente, the largest shareholder of Bithumb, soared by around 30 percent Monday amid FTX's reported plan to take over the Korean crypto exchange operator. Vidente is the largest shareholder of Bithumb Holdings with a 34.22 percent stake. The stock of the company closed with an eye-catching gain of 29.77 percent, or 2,730 won on tech-heavy Kosdaq.

Lee Min-hyung | 2022-07-25 17:03

Bitcoin inches down ahead of Fed's rate hikes

Bitcoin inches down ahead of Fed's rate hikes

Bitcoin has extended a slight loss ahead of a possible giant rate hike of 75 basis points by the U.S. Fed this week, with investors remaining cautious due to fears concerning the after-effects of the hawkish move. The price of Bitcoin fell by more than 1 percent as of 2 p.m. Sunday from a day earlier. The world's largest cryptocurrency was traded at around $22,700, showing no...

Lee Min-hyung | 2022-07-24 16:34

Prosecutors raid Terraform's parent firm in probe into Luna-Terra crash

Prosecutors raid Terraform's parent firm in probe into Luna-Terra crash

Prosecutors have raided the parent company of Terraform Labs as part of a broadening investigation into the massive collapse of the firm's Luna and TerraUSD cryptocurrencies, sources said Sunday.

2022-07-24 10:50

Prosecutors raid cryptocurrency exchanges in probe into Terraform crash

Prosecutors raid cryptocurrency exchanges in probe into Terraform crash

Prosecutors raided local cryptocurrency exchanges on Wednesday as part of an investigation into a fraud case in connection with the collapse of Terraform Labs' digital coins, TerraUSD and Luna, officials said.

2022-07-20 20:58

Bitcoin, Ethereum regain momentum for rally

Bitcoin, Ethereum regain momentum for rally

The prices of Bitcoin and Ethereum are on a solid recovery track on growing hopes for the U.S. Federal Reserve to slow down the pace of its monetary tightening as the year-end approaches. Bitcoin bounced back to the 30 million mark ($22,800) Wednesday for the first time in more than a month. This is an increase of 22 percent from this year's low of 25.16 million won in mid-Ju...

Lee Min-hyung | 2022-07-20 16:35

Dunamu to invest $383 million to create 10,000 jobs

Dunamu to invest $383 million to create 10,000 jobs

Dunamu is set to invest 500 billion won ($383 million) over the next five years to create more than 10,000 jobs for regional communities around Korea. The company is the operator of Korea's dominant cryptocurrency exchange, Upbit. The drive is part of the firm's efforts to help young people here catch up with the era of the so-called Web 3.0 - which refers to the upcoming thi...

Lee Min-hyung | 2022-07-20 09:00

Bitcoin set to bounce back as inverted US treasury yield curve sparks recession fears

Bitcoin set to bounce back as inverted US treasury yield curve sparks recession fears

The price of Bitcoin will enter a period of a major upturn near the end of this year when the U.S. Fed is expected to be in the final stage of its monetary tightening, experts said Monday. The outlook came after the inversion between the U.S'. 2-year treasury yield and 10-year treasury yield recently deepened to the highest level since 2000 amid the Fed's possible giant rate ...

Lee Min-hyung | 2022-07-18 16:01

Dunamu, Bithumb escalate competition in NFT market amid crypto doldrums

Dunamu, Bithumb escalate competition in NFT market amid crypto doldrums

Dunamu and Bithumb, the two largest cryptocurrency exchange operators here, are increasing competition in the non-fungible token (NFT) market, identifying the area as their next growth engine amid the lukewarm crypto sentiment here and abroad. Both firms understand the urgent need to expand their revenue streams preemptively due to the inherent volatility in the crypto market...

Lee Min-hyung | 2022-07-14 16:47

Minor exchanges feared to close down amid crypto market decline

Minor exchanges feared to close down amid crypto market decline

Minor cryptocurrency exchanges are feared to have to close down amid rapidly-cooling market sentiment here and abroad. The five largest cryptocurrency exchanges in Korea - Upbit, Bithumb, Coinone, Korbit and Gopax - account for more than 99 percent of the market. According to data from the Korea Financial Intelligence Unit, a total of 26 crypto exchanges _ including the top f...

Lee Min-hyung | 2022-07-12 09:01

'Crypto rebound will be more powerful than stocks'

'Crypto rebound will be more powerful than stocks'

Cryptocurrencies will pull off a stronger rally than stocks when global monetary authorities send gestures to turn less aggressive in hiking their interest rates, a crypto expert said in a recent interview. The global crypto market enjoyed its heyday in 2021 on a trading frenzy driven by substantial liquidity. But the sentiment took an abrupt turn for the worse at the start o...

Lee Min-hyung | 2022-07-01 08:33

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