Between strict capital controls and regulations, Korea’s cryptocurrency industry is so closed off that Bitcoin commands a steep premium and DeFi is in its infancy. On a day in which Bitcoin crashed briefly to $30,000 in a rampant bear market, the leading cryptocurrency never got anywhere close to that on Korean exchanges. The so-called “kimchi…
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Strong hands accumulated Bitcoin throughout last week’s historic correction but BTC’s inability to reclaim the $40,000 level has some traders afraid of a dead cat bounce. The recent extreme volatility in the cryptocurrency market following Bitcoin’s (BTC) dip to $30,000 and the recovery to $38,000 has traders confused about whether the current price action is…
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With shares in the Nasdaq-listed cryptocurrency exchange continuing to underperform, Coinbase is seeking a $1.25 billion cash injection from institutional investors. United States-based cryptocurrency exchange Coinbase seeks to raise $1.25 billion in funds through a proposed private offering for institutional buyers. According to an announcement on May 17, the offering will be in the form of…
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COIN, MARA, RIOT and other blockchain-related stocks continue to slide as Bitcoin struggles to hold above $43,000. It is well known that as goes Bitcoin (BTC), so goes the rest of the cryptocurrency market, as time and again, major price moves from Bitcoin create ripples across the altcoin market, impacting sentiment and momentum. This appears to…
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After posting tenfold crypto volume growth in Q1 2021, DBS Private Bank is expanding its crypto services with a new trust solution. DBS Private Bank, one of the biggest wealth managers in Asia outside China, has launched a cryptocurrency trust solution amid growing demand for digital assets. After setting up its own crypto exchange in…
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Argentina’s tax authority AFIP reportedly ordered domestic crypto exchanges and payment firms to provide monthly reports of all kinds of operations. A tax authority in Argentina is reportedly looking to scrutinize operations involving cryptocurrencies like Bitcoin (BTC). Argentina’s Federal Administration of Public Income, or AFIP, has ordered domestic crypto exchanges and payment firms to provide…
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An up and down week filled with high volumes for animal tokens and a flurry of digital yuan news, capped by a large fundraising round for Babel Finance. This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory…
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Cash, cash equivalents, other short-term deposits and commercial paper make up 75.85% of Tether’s proven reserves as of March 31. Tether Holdings Limited, the company behind the popular USDT stablecoin, released a full breakdown of its reserve composition on Thursday, offering more transparency about the composition of its assets. More than three-quarters of Tether’s reserves…
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News that Binance could be under investigation by the U.S. Justice Department and IRS triggered a marketwide sell-off that saw Bitcoin’s price drop to $46,000. Within the last hour, Bitcoin’s (BTC) price dropped by more than 3%, extending the decline that started on May 12 and saw the digital asset drop as low as $46,000…
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The price of Bitcoin and Ether both fell between 3% and 5% as the report spread across social media. Major cryptocurrency exchange Binance is reportedly under investigation by both the United States Department of Justice and Internal Revenue Service in an apparent effort to stymie illegal trading activity from users in the United States. According…
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