[Solana Company raises $15M through stock offering]
Solana Company, a listed company accumulating SOL, said it had issued $15 million worth of stock. The company, which trades on Nasdaq under the ticker HSDT, plans to use the proceeds to buy SOL or repurchase its own shares.
https://coinness.com/en/news/1170408
Solana Company, a listed company accumulating SOL, said it had issued $15 million worth of stock. The company, which trades on Nasdaq under the ticker HSDT, plans to use the proceeds to buy SOL or repurchase its own shares.
https://coinness.com/en/news/1170408
CoinNess
Solana Company raises $15M through stock offering - CoinNess
Solana Company, a listed company accumulating SOL, said it had issued $15 million worth of stock. The company, which trades on Nasdaq under the ticker HSDT, pla...
[U.S. CFTC moves to classify prediction market event contracts as swaps]
The U.S. Commodity Futures Trading Commission is pursuing a rule that would place event contracts traded on prediction markets such as Polymarket and Kalshi under the category of financial derivatives known as swaps. According to a document from the Office of Information and Regulatory Affairs, the CFTC submitted a proposed rule that would redefine event contracts, excluding casino-style gambling, as swaps.
If event contracts are formally classified as swaps, the CFTC would hold exclusive regulatory authority under federal law. Amid ongoing opposition from state gambling regulators seeking to classify sports and political prediction contracts as gambling, the measure would put the CFTC in a stronger position in the jurisdictional battle over federal oversight of prediction markets in the U.S.
https://coinness.com/en/news/1170409
The U.S. Commodity Futures Trading Commission is pursuing a rule that would place event contracts traded on prediction markets such as Polymarket and Kalshi under the category of financial derivatives known as swaps. According to a document from the Office of Information and Regulatory Affairs, the CFTC submitted a proposed rule that would redefine event contracts, excluding casino-style gambling, as swaps.
If event contracts are formally classified as swaps, the CFTC would hold exclusive regulatory authority under federal law. Amid ongoing opposition from state gambling regulators seeking to classify sports and political prediction contracts as gambling, the measure would put the CFTC in a stronger position in the jurisdictional battle over federal oversight of prediction markets in the U.S.
https://coinness.com/en/news/1170409
CoinNess
U.S. CFTC moves to classify prediction market event contracts as swaps - CoinNess
The U.S. Commodity Futures Trading Commission is pursuing a rule that would place event contracts traded on prediction markets such as Polymarket and Kalshi und...
[Whale withdraws $6.2M in AAVE from Kraken]
An anonymous whale withdrew 39,018 AAVE, worth about $6.2 million, from Kraken three hours ago, according to AmberCN. Exchange outflows are typically interpreted as a sign of holding intent.
https://coinness.com/en/news/1170410
An anonymous whale withdrew 39,018 AAVE, worth about $6.2 million, from Kraken three hours ago, according to AmberCN. Exchange outflows are typically interpreted as a sign of holding intent.
https://coinness.com/en/news/1170410
CoinNess
Whale withdraws $6.2M in AAVE from Kraken - CoinNess
An anonymous whale withdrew 39,018 AAVE, worth about $6.2 million, from Kraken three hours ago, according to AmberCN. Exchange outflows are typically interprete...
[Bitcoin developers propose standard to detect wallet private key leaks]
Bitcoin developers have proposed a new standard, BIP-461, to detect covert private key leakage during wallet signing, CryptoSlate reported. The proposal centers on standardizing ECDSA signatures so any compliant signer using the same private key and the same message would produce the same result. If a signature differs from the standard output, it would make it easier to check whether hidden behavior aimed at leaking the private key was involved in the signing process. The proposal does not require changes to Bitcoin’s existing consensus rules, allowing related wallets or signing software to adopt it without a network upgrade.
https://coinness.com/en/news/1170411
Bitcoin developers have proposed a new standard, BIP-461, to detect covert private key leakage during wallet signing, CryptoSlate reported. The proposal centers on standardizing ECDSA signatures so any compliant signer using the same private key and the same message would produce the same result. If a signature differs from the standard output, it would make it easier to check whether hidden behavior aimed at leaking the private key was involved in the signing process. The proposal does not require changes to Bitcoin’s existing consensus rules, allowing related wallets or signing software to adopt it without a network upgrade.
https://coinness.com/en/news/1170411
CoinNess
Bitcoin developers propose standard to detect wallet private key leaks - CoinNess
Bitcoin developers have proposed a new standard, BIP-461, to detect covert private key leakage during wallet signing, CryptoSlate reported. The proposal centers...
[Ethereum ICO investor moves $356M in ETH to new address, possibly co-founder-linked]
An early investor who acquired 560,000 ETH in Ethereum’s 2015 ICO moved 133,298 ETH worth $356 million to a new address five hours ago, according to ai_9684xtpa. The transfer marks the first time in the past four years that the whale has moved more than $100 million in ETH to a new address in a single transaction. Lookonchain estimates the wallet may belong to Ethereum co-founder Joseph Lubin.
https://coinness.com/en/news/1170412
An early investor who acquired 560,000 ETH in Ethereum’s 2015 ICO moved 133,298 ETH worth $356 million to a new address five hours ago, according to ai_9684xtpa. The transfer marks the first time in the past four years that the whale has moved more than $100 million in ETH to a new address in a single transaction. Lookonchain estimates the wallet may belong to Ethereum co-founder Joseph Lubin.
https://coinness.com/en/news/1170412
CoinNess
Ethereum ICO investor moves $356M in ETH to new address - CoinNess
An early investor who acquired 560,000 ETH in Ethereum’s 2015 ICO moved 133,298 ETH worth $356 million to a new address five hours ago, according to ai_9684xt...
[Anonymous whale buys $4M in ETH after pullback from overnight spike]
An anonymous whale bought 1,486.37 ETH worth about $4.028 million as Ethereum pulled back after an overnight price spike, according to ai_9684xtpa. The address is currently sitting on an unrealized loss of about $33,000.
https://coinness.com/en/news/1170413
An anonymous whale bought 1,486.37 ETH worth about $4.028 million as Ethereum pulled back after an overnight price spike, according to ai_9684xtpa. The address is currently sitting on an unrealized loss of about $33,000.
https://coinness.com/en/news/1170413
CoinNess
Anonymous whale buys $4M in ETH after pullback from overnight spike - CoinNess
An anonymous whale bought 1,486.37 ETH worth about $4.028 million as Ethereum pulled back after an overnight price spike, according to ai_9684xtpa. The address ...
[Kakao Group, Korea Investment Securities to build digital asset ecosystem]
Kakao Group, including Kakao, KakaoBank and Kakao Pay, plans to expand financial services cooperation with Korea Investment Securities across the digital asset sector, from issuance and distribution to investment, remittances and settlement, Financial News reported. Under the agreement, the companies plan to build a broad cooperation framework covering the wider digital asset business, including refining use cases for digital assets, offering financial services such as investment, remittances and settlement using digital asset services, building core infrastructure such as electronic wallets to support those services, and cooperating on digital asset custody and links to customer-facing digital asset services.
https://coinness.com/en/news/1170414
See more: https://n.news.naver.com/mnews/article/014/0005583565?sid=101
Kakao Group, including Kakao, KakaoBank and Kakao Pay, plans to expand financial services cooperation with Korea Investment Securities across the digital asset sector, from issuance and distribution to investment, remittances and settlement, Financial News reported. Under the agreement, the companies plan to build a broad cooperation framework covering the wider digital asset business, including refining use cases for digital assets, offering financial services such as investment, remittances and settlement using digital asset services, building core infrastructure such as electronic wallets to support those services, and cooperating on digital asset custody and links to customer-facing digital asset services.
https://coinness.com/en/news/1170414
See more: https://n.news.naver.com/mnews/article/014/0005583565?sid=101
CoinNess
Kakao Group, Korea Investment Securities to build digital asset ecosystem - CoinNess
Kakao Group, including Kakao, KakaoBank and Kakao Pay, plans to expand financial services cooperation with Korea Investment Securities across the digital asset ...
[Kraken completes acquisition of TradeStation crypto infrastructure assets]
Kraken disclosed it has completed the acquisition of TradeStation’s cryptocurrency-related infrastructure assets. TradeStation is a platform that provides online trading brokerage services.
The deal appears aimed at expanding Kraken’s digital asset infrastructure capabilities. Kraken’s parent company, Payward, had previously said it spent billions of dollars on acquisitions and investments over the past two years as it pursues a strategy of integrating trading, banking, asset management, and institutional services into a single financial infrastructure.
https://coinness.com/en/news/1170415
Kraken disclosed it has completed the acquisition of TradeStation’s cryptocurrency-related infrastructure assets. TradeStation is a platform that provides online trading brokerage services.
The deal appears aimed at expanding Kraken’s digital asset infrastructure capabilities. Kraken’s parent company, Payward, had previously said it spent billions of dollars on acquisitions and investments over the past two years as it pursues a strategy of integrating trading, banking, asset management, and institutional services into a single financial infrastructure.
https://coinness.com/en/news/1170415
CoinNess
Kraken completes acquisition of TradeStation crypto infrastructure assets - CoinNess
Kraken disclosed it has completed the acquisition of TradeStation’s cryptocurrency-related infrastructure assets. TradeStation is a platform that provides onl...
[Ether.fi says operator security incident did not affect weETH]
Ether.fi said via its official social media account that it is aware of a security incident involving Ethereum node operators and that weETH was not exposed to the incident or affected by it.
https://coinness.com/en/news/1170416
Ether.fi said via its official social media account that it is aware of a security incident involving Ethereum node operators and that weETH was not exposed to the incident or affected by it.
https://coinness.com/en/news/1170416
CoinNess
Ether.fi says operator security incident did not affect weETH - CoinNess
Ether.fi said via its official social media account that it is aware of a security incident involving Ethereum node operators and that weETH was not exposed to ...
[Ethena founder says security incident at Ethereum node operator has no impact]
Ethena founder Guy Young said Ethena is aware of an ongoing security incident involving a specific Ethereum node operator and does not expect it to affect the protocol. Young said USDe’s collateral currently includes no direct exposure to stETH or other liquid staking tokens.
https://coinness.com/en/news/1170417
Ethena founder Guy Young said Ethena is aware of an ongoing security incident involving a specific Ethereum node operator and does not expect it to affect the protocol. Young said USDe’s collateral currently includes no direct exposure to stETH or other liquid staking tokens.
https://coinness.com/en/news/1170417
CoinNess
Ethena founder says security incident at Ethereum node operator has no impact - CoinNess
Ethena founder Guy Young said Ethena is aware of an ongoing security incident involving a specific Ethereum node operator and does not expect it to affect the p...
[Orca CLO says SEC innovation exemption gives DeFi chance to prove efficiency]
Christopher Montanaro, chief legal officer at Orca, said at Korea Blockchain Week 2026 that the U.S. SEC’s new innovation exemption gives the DeFi industry a chance to test whether blockchain-based financial infrastructure is actually more efficient than traditional financial systems. The innovation exemption introduced by the SEC on Sept. 17 refers to a temporary conditional exemption that allows limited trading of tokenized U.S. stocks in on-chain environments.
https://coinness.com/en/news/1170418
Christopher Montanaro, chief legal officer at Orca, said at Korea Blockchain Week 2026 that the U.S. SEC’s new innovation exemption gives the DeFi industry a chance to test whether blockchain-based financial infrastructure is actually more efficient than traditional financial systems. The innovation exemption introduced by the SEC on Sept. 17 refers to a temporary conditional exemption that allows limited trading of tokenized U.S. stocks in on-chain environments.
https://coinness.com/en/news/1170418
CoinNess
Orca CLO says SEC innovation exemption gives DeFi chance to prove efficiency - CoinNess
Christopher Montanaro, chief legal officer at Orca, said at Korea Blockchain Week 2026 that the U.S. SEC’s new innovation exemption gives the DeFi industry a ...
[Robinhood Chain perp daily volume reaches $1B]
Robinhood CEO Vlad Tenev said in an interview with therollupco that daily trading volume in perpetual futures on Robinhood Chain has reached $1 billion. Tenev added, "신규 시장을 곧 전체 이용자에게 개방하고, 향후 두 달 안에 로빈후드 체인을 개발자들이 선호하는 블록체인으로 성장시키겠다".
https://coinness.com/en/news/1170419
Robinhood CEO Vlad Tenev said in an interview with therollupco that daily trading volume in perpetual futures on Robinhood Chain has reached $1 billion. Tenev added, "신규 시장을 곧 전체 이용자에게 개방하고, 향후 두 달 안에 로빈후드 체인을 개발자들이 선호하는 블록체인으로 성장시키겠다".
https://coinness.com/en/news/1170419
CoinNess
Robinhood Chain perp daily volume reaches $1B - CoinNess
Robinhood CEO Vlad Tenev said in an interview with therollupco that daily trading volume in perpetual futures on Robinhood Chain has reached $1 billion. Tenev a...
[Bank of Korea launches digital currency advisory panel ahead of audit]
The Bank of Korea has set up a separate advisory committee on digital currency policy covering central bank digital currencies, deposit tokens and related issues, The Fact reported. According to materials the central bank submitted to the office of Kim Sang-hoon, a lawmaker on the National Assembly’s Public Administration and Security Committee from the ruling Democratic Party, the Bank of Korea recently created the Digital Currency Advisory Committee and held its first meeting on Sept. 29.
The new body restores an official channel for gathering views from outside experts and the market about five months after the previous advisory group was effectively dismantled just before Bank of Korea Governor Hyun Song Shin took office in April. The move comes as digital-currency projects including Project Hangang, the cross-border payments test Project Agora and tokenized government bonds are gaining momentum, while debate over CBDC-related privacy and security concerns continues.
With the advisory gap having lasted about five months, and the new committee launching ahead of the parliamentary audit, some have raised concerns that the body should not remain a token measure aimed at responding to the audit, according to the report.
https://coinness.com/en/news/1170420
See more: https://news.tf.co.kr/read/economy/2371811.htm
The Bank of Korea has set up a separate advisory committee on digital currency policy covering central bank digital currencies, deposit tokens and related issues, The Fact reported. According to materials the central bank submitted to the office of Kim Sang-hoon, a lawmaker on the National Assembly’s Public Administration and Security Committee from the ruling Democratic Party, the Bank of Korea recently created the Digital Currency Advisory Committee and held its first meeting on Sept. 29.
The new body restores an official channel for gathering views from outside experts and the market about five months after the previous advisory group was effectively dismantled just before Bank of Korea Governor Hyun Song Shin took office in April. The move comes as digital-currency projects including Project Hangang, the cross-border payments test Project Agora and tokenized government bonds are gaining momentum, while debate over CBDC-related privacy and security concerns continues.
With the advisory gap having lasted about five months, and the new committee launching ahead of the parliamentary audit, some have raised concerns that the body should not remain a token measure aimed at responding to the audit, according to the report.
https://coinness.com/en/news/1170420
See more: https://news.tf.co.kr/read/economy/2371811.htm
CoinNess
Bank of Korea launches digital currency advisory panel ahead of audit - CoinNess
The Bank of Korea has set up a separate advisory committee on digital currency policy covering central bank digital currencies, deposit tokens and related issue...
[Florida enforces payment stablecoin rules with 1:1 reserves and $10B issuance cap]
Payment stablecoin oversight rules in the U.S. state of Florida took full effect today, according to Odaily. Under the new rules, trust companies in Florida must obtain state approval to issue payment stablecoins.
Issuers are required to maintain reserves of at least one-to-one in cash, short-term U.S. Treasuries, government money market funds and similar assets, while also disclosing reserve details monthly and undergoing accounting audits and executive certification. In particular, if a state-supervised issuer’s total outstanding issuance exceeds $10 billion, new issuance must be halted unless the issuer moves into a federal regulatory framework within 360 days or falls back below the cap. The move is expected to strengthen the link between state-level efforts to establish a legal framework for stablecoins and federal regulation.
https://coinness.com/en/news/1170421
Payment stablecoin oversight rules in the U.S. state of Florida took full effect today, according to Odaily. Under the new rules, trust companies in Florida must obtain state approval to issue payment stablecoins.
Issuers are required to maintain reserves of at least one-to-one in cash, short-term U.S. Treasuries, government money market funds and similar assets, while also disclosing reserve details monthly and undergoing accounting audits and executive certification. In particular, if a state-supervised issuer’s total outstanding issuance exceeds $10 billion, new issuance must be halted unless the issuer moves into a federal regulatory framework within 360 days or falls back below the cap. The move is expected to strengthen the link between state-level efforts to establish a legal framework for stablecoins and federal regulation.
https://coinness.com/en/news/1170421
CoinNess
Florida enforces payment stablecoin rules with 1:1 reserves and $10B issuance cap - CoinNess
Payment stablecoin oversight rules in the U.S. state of Florida took full effect today, according to Odaily. Under the new rules, trust companies in Florida mus...
[Saylor says Bitcoin gains could lower Strategy funding costs and support more BTC buys]
Rising Bitcoin prices and lower funding costs could create a virtuous cycle that further strengthens Bitcoin-holding companies such as Strategy, Strategy CEO Michael Saylor said.
Saylor said the key is appreciation in Bitcoin, whose supply is capped. If a company raises fresh capital to buy more Bitcoin, demand increases, and if the price rises, the value of the company’s holdings and its ability to raise additional funds could also improve. Saylor added that growing market understanding and acceptance of preferred shares such as STRC is another variable. As analyst and institutional participation expands and trading and distribution infrastructure improves, the extra yield investors demand could fall, reducing Strategy’s funding costs. If corporate value rises, the company could raise capital on more favorable terms to buy more Bitcoin or reduce higher-cost debt. Saylor described Strategy’s $152 million STRC redemption disclosed on Sept. 28 as an example of this active capital management strategy.
He added that for the structure to remain sustainable, returns from holding Bitcoin must exceed funding costs and dilution from share issuance. Because Bitcoin does not generate interest income on its own, price appreciation and efficient capital management remain the key factors, Saylor said.
https://coinness.com/en/news/1170422
Rising Bitcoin prices and lower funding costs could create a virtuous cycle that further strengthens Bitcoin-holding companies such as Strategy, Strategy CEO Michael Saylor said.
Saylor said the key is appreciation in Bitcoin, whose supply is capped. If a company raises fresh capital to buy more Bitcoin, demand increases, and if the price rises, the value of the company’s holdings and its ability to raise additional funds could also improve. Saylor added that growing market understanding and acceptance of preferred shares such as STRC is another variable. As analyst and institutional participation expands and trading and distribution infrastructure improves, the extra yield investors demand could fall, reducing Strategy’s funding costs. If corporate value rises, the company could raise capital on more favorable terms to buy more Bitcoin or reduce higher-cost debt. Saylor described Strategy’s $152 million STRC redemption disclosed on Sept. 28 as an example of this active capital management strategy.
He added that for the structure to remain sustainable, returns from holding Bitcoin must exceed funding costs and dilution from share issuance. Because Bitcoin does not generate interest income on its own, price appreciation and efficient capital management remain the key factors, Saylor said.
https://coinness.com/en/news/1170422
[277,162,705 USDT transferred from Binance to an unknown wallet]
Whale Alert reported that 277,162,705 USDT has been transferred from Binance to an unknown wallet. The transaction is valued at about $277 million.
https://coinness.com/en/news/1170423
Whale Alert reported that 277,162,705 USDT has been transferred from Binance to an unknown wallet. The transaction is valued at about $277 million.
https://coinness.com/en/news/1170423
[Binance to delist 3 perpetual futures, including PROMPT/USDT, on Oct. 5]
Binance announced it will delist the PROMPT/USDT, PUMPBTC/USDT and 1000000BOB/USDT perpetual futures at 9:00 a.m. UTC on Oct. 5.
https://coinness.com/en/news/1170424
Binance announced it will delist the PROMPT/USDT, PUMPBTC/USDT and 1000000BOB/USDT perpetual futures at 9:00 a.m. UTC on Oct. 5.
https://coinness.com/en/news/1170424
CoinNess
Binance to delist 3 perpetual futures, including PROMPT/USDT, on Oct. 5 - CoinNess
Binance announced it will delist the PROMPT/USDT, PUMPBTC/USDT and 1000000BOB/USDT perpetual futures at 9:00 a.m. UTC on Oct. 5.
[U.S. bankruptcy court allows rebidding for Poolin’s Texas mining assets]
A U.S. bankruptcy court in New Jersey has approved the reopening of the bidding process for Bitcoin mining pool Poolin’s Texas mining business assets, The Energy Mag reported. An affiliate of HUT 8 remains the stalking-horse bidder, with the total offer valued at up to $180 million. Of that, $100 million would be paid at closing, while up to $80 million would be tied to milestone-based conditions related to a future data center transaction.
https://coinness.com/en/news/1170425
A U.S. bankruptcy court in New Jersey has approved the reopening of the bidding process for Bitcoin mining pool Poolin’s Texas mining business assets, The Energy Mag reported. An affiliate of HUT 8 remains the stalking-horse bidder, with the total offer valued at up to $180 million. Of that, $100 million would be paid at closing, while up to $80 million would be tied to milestone-based conditions related to a future data center transaction.
https://coinness.com/en/news/1170425
CoinNess
U.S. bankruptcy court allows rebidding for Poolin’s Texas mining assets - CoinNess
A U.S. bankruptcy court in New Jersey has approved the reopening of the bidding process for Bitcoin mining pool Poolin’s Texas mining business assets, The Ene...
[Grayscale completes 3-for-1 stock split for spot ZEC ETF]
Grayscale has completed a three-for-one stock split for its spot ZEC ETF, ZCSH. Shareholders of record as of the Sept. 28 market close received two additional shares for each share held, raising each original share to three shares after the split. Following the split, net asset value per share was adjusted to about one-third of its previous level, while the total value of each investor’s holdings was unchanged.
https://coinness.com/en/news/1170426
Grayscale has completed a three-for-one stock split for its spot ZEC ETF, ZCSH. Shareholders of record as of the Sept. 28 market close received two additional shares for each share held, raising each original share to three shares after the split. Following the split, net asset value per share was adjusted to about one-third of its previous level, while the total value of each investor’s holdings was unchanged.
https://coinness.com/en/news/1170426
CoinNess
Grayscale completes 3-for-1 stock split for spot ZEC ETF - CoinNess
Grayscale has completed a three-for-one stock split for its spot ZEC ETF, ZCSH. Shareholders of record as of the Sept. 28 market close received two additional s...
[South Korea to apply travel rule to sub-$700 crypto transfers from February]
Most crypto transfer users in South Korea are likely to be affected when the travel rule is extended to virtual asset transfers worth less than 1 million won ($700) starting in February, News1 reported. According to a survey on virtual asset service providers released by South Korea’s Financial Intelligence Unit under the Financial Services Commission on Oct. 1, 63% of all users who made outbound virtual asset transfers in the first half used transfers worth under 1 million won.
https://coinness.com/en/news/1170427
See more: https://www.news1.kr/finance/blockchain-fintech/6307157
Most crypto transfer users in South Korea are likely to be affected when the travel rule is extended to virtual asset transfers worth less than 1 million won ($700) starting in February, News1 reported. According to a survey on virtual asset service providers released by South Korea’s Financial Intelligence Unit under the Financial Services Commission on Oct. 1, 63% of all users who made outbound virtual asset transfers in the first half used transfers worth under 1 million won.
https://coinness.com/en/news/1170427
See more: https://www.news1.kr/finance/blockchain-fintech/6307157
CoinNess
South Korea to apply travel rule to sub-$700 crypto transfers from February - CoinNess
Most crypto transfer users in South Korea are likely to be affected when the travel rule is extended to virtual asset transfers worth less than 1 million won ($...
[South Korea crypto market cools as large-holder accounts lose share]
South Korea’s cryptocurrency market weakened broadly in the first half of this year, with participation by so-called big-money investors also declining, iNews24 reported, citing results from a survey of 26 virtual asset service providers released on Oct. 1 by South Korea’s Financial Intelligence Unit and Financial Supervisory Service.
As of the end of June, the number of tradable user accounts stood at 11.175 million, up 49,000, or 0.4%, from the end of last year. Accounts holding at least 10 million won accounted for 890,000, or 8% of the total, down two percentage points from the end of last year. Accounts holding at least 100 million won totaled 110,000, representing 1% of the total and down 0.5 percentage point from the end of last year. Meanwhile, 8.63 million accounts, or 77.2% of all user accounts, held less than 1 million won in assets.
The total valuation of virtual assets in South Korea stood at 58.9 trillion won ($43.3 billion) at the end of June, down 33% from the end of last year. Average daily trading volume in the first half was 3.1 trillion won ($2.3 billion), down 44% from the second half of last year, while won-denominated deposits fell 35% to 5.2 trillion won ($3.8 billion). Exchange revenue in the first half dropped 41% from the second half of last year to 576.8 billion won ($424.3 million), and operating profit plunged 78% to 81.6 billion won ($60.0 million).
https://coinness.com/en/news/1170428
See more: https://www.inews24.com/view/2010848
South Korea’s cryptocurrency market weakened broadly in the first half of this year, with participation by so-called big-money investors also declining, iNews24 reported, citing results from a survey of 26 virtual asset service providers released on Oct. 1 by South Korea’s Financial Intelligence Unit and Financial Supervisory Service.
As of the end of June, the number of tradable user accounts stood at 11.175 million, up 49,000, or 0.4%, from the end of last year. Accounts holding at least 10 million won accounted for 890,000, or 8% of the total, down two percentage points from the end of last year. Accounts holding at least 100 million won totaled 110,000, representing 1% of the total and down 0.5 percentage point from the end of last year. Meanwhile, 8.63 million accounts, or 77.2% of all user accounts, held less than 1 million won in assets.
The total valuation of virtual assets in South Korea stood at 58.9 trillion won ($43.3 billion) at the end of June, down 33% from the end of last year. Average daily trading volume in the first half was 3.1 trillion won ($2.3 billion), down 44% from the second half of last year, while won-denominated deposits fell 35% to 5.2 trillion won ($3.8 billion). Exchange revenue in the first half dropped 41% from the second half of last year to 576.8 billion won ($424.3 million), and operating profit plunged 78% to 81.6 billion won ($60.0 million).
https://coinness.com/en/news/1170428
See more: https://www.inews24.com/view/2010848
CoinNess
South Korea crypto market cools as large-holder accounts lose share - CoinNess
South Korea’s cryptocurrency market weakened broadly in the first half of this year, with participation by so-called big-money investors also declining, iNews...