Financial Authorities Warn Cryptocurrency Exchanges About "Coin Leverage Investment Risks"
According to Yonhap News, financial authorities have conveyed concerns to cryptocurrency exchanges about legal issues and insufficient user protection measures related to the recently launched coin lending services by domestic major exchanges Upbit and Bithumb. The Financial Supervisory Service reportedly summoned executives from five exchanges on the 25th to communicate these concerns. After the authority's summons, Upbit suspended its USDT lending service, and Bithumb is no longer accepting new lending applications. The authorities plan to form a task force with the industry to establish self-regulation as the service controversy continues.
Hong Kong Expected to Issue First Stablecoin License in Early Next Year
South China Morning Post (SCMP) reported that the Hong Kong Monetary Authority (HKMA) is likely to issue its first stablecoin license in early next year. Before the stablecoin ordinance takes effect on the 1st of next month, HKMA stated that the "realistic timeline for stablecoin license issuance will be early next year". Previously, HKMA mentioned introducing a six-month grace period for institutions engaged in stablecoin issuance and will issue temporary licenses to issuers who can comply with regulatory requirements.
Kraken Pursuing $500 Million Funding
Aggr News, citing Reuters, reported that the US cryptocurrency exchange Kraken is pursuing $500 million in funding, with its corporate value estimated at $15 billion.
Anchorage Digital Purchases $1.19 Billion BTC in 9 Hours
LookOnChain reported that an estimated Anchorage Digital address purchased 10,141 BTC (approximately $1.19 billion) through multiple wallets over 9 hours.
Ethereum Whale Adds $45 Million ETH, Accumulating $410 Million
According to Amber CN, an anonymous whale address purchased an additional 12,000 ETH ($45.01 million) through Galaxy Digital 7 hours ago. This address has accumulated a total of 113,000 ETH ($410 million) over 11 days since the 19th.
Turkish Ride-Hailing Platform Mart Decides to Invest 20% of Cash Reserves in Cryptocurrency
Mart CEO Oğuz Alper Öktem announced on X that the company will invest 20% of its cash reserves in cryptocurrency, starting with Bitcoin. He added that Mart views cryptocurrency as a store of value and wants to preserve the purchasing power of idle funds in various situations while continuing existing business operations.
BTCS Files $2 Billion Securities Shelf Offering with SEC, Potential ETH Purchase
BWE News reported that Nasdaq-listed blockchain technology company BTCS has filed a $2 billion securities shelf offering with the US Securities and Exchange Commission (SEC). Given that BTCS has been purchasing Ethereum (ETH) recently, the funds raised through this offering might be used for ETH acquisition.
ARK Invest Purchases $15.3 Million Bitmain Stock
The Block reported that ARK Investment, led by Cathie Wood, purchased $15.3 million worth of Bitmain (BMNR) stock on the 29th. Bitmain is a company that announced its strategic ETH purchase. ARK Invest has been buying Bitmain stock since last week, with a total purchase amount of $182 million. Bitmain previously announced the approval of a $1 billion share buyback.
Vitalik Buterin to Appear in Ethereum 10th Anniversary Live Broadcast
The Ethereum Foundation announced that Vitalik Buterin, the creator of Ethereum, will personally appear in the YouTube live broadcast commemorating Ethereum's 10th anniversary at 11:30 PM Korean time. The foundation explained that Buterin will review Ethereum's history on that day.
AML Bitcoin Founder Sentenced to 7 Years for "Fraud Charges"
The Block reported that a US court sentenced AML Bitcoin founder Rowland Marcus Andrade to 7 years in prison for fraud and money laundering charges. Andrade was investigated for raising approximately $10 million from investors between 2014 and 2019 by presenting false information about AML Bitcoin.
Layer1 Radix Founder Passes Away
Radix, a Layer1 project, announced on X that founder Dan Hughes suddenly passed away from natural causes at home. To fill the void left by Dan Hughes, Radix appointed CSO Adam Simmons and CFO Jonathan Day as directors. The project also explained that it will take a brief pause to discuss future operational directions.
Status Joins Linea Consortium as Founding Member
Ethereum-based messaging platform Status announced its joining of the Linea Layer2 consortium as a founding member. Status will jointly operate the largest ecosystem fund in Ethereum's history with ConsenSys, ENS Labs, Eigen Labs, and SharpLink. The consortium plans to allocate 75% of Linea token supply to decentralized applications, liquidity provision, public goods, and long-term Ethereum research and development over the next 10 years.
Danal and Hancomwith Accelerate Stablecoin Electronic Financial Business
According to Asia Economic News, integrated payment business specialist Danal and Hancom Group affiliate Hancomwith are set to actively pursue a stablecoin-based electronic financial business. The two companies will partner to introduce a kiosk-style stablecoin financial service for foreign residents in the domestic market. They also preview launching financial services targeting overseas markets by integrating their AI and security technologies.
BTC Spot ETF 11 Billion Won Net Inflow... 4 Consecutive Trading Days
According to Trader T, on the 29th (local time), $79.62 million (11 billion won) was net inflow into the US Bitcoin spot ETF. This marks 4 consecutive trading days of net inflow. BlackRock IBIT received $157.19 million, Vaneck HODL received $5.82 million, while Bitwise BITB, Ark Invest ARKB, and Grayscale GBTC saw net outflows of $26.22 million, $8.20 million, and $48.97 million respectively. Other ETFs had no net inflow or outflow.
ETH Spot ETF 18 Consecutive Days of Net Inflow... 301.6 Billion Won
According to Trader T, on the 29th (local time), $218.09 million (approximately 301.6 billion won) was net inflow into the US Ethereum spot ETF. This marks 18 consecutive trading days of net inflow. BlackRock ETHA alone received $223.18 million in net inflow. In contrast, 21Shares CETH saw a net outflow of $5.09 million. Other ETFs had no net inflow or outflow.
7,625 BTC Transfer... Coinbase → Anonymous
According to Whale Alert, 7,625 BTC was transferred from a Coinbase address to an anonymous address. This amounts to $900 million.
396,571,740 USDT Transfer... OKX → Anonymous
According to Whale Alert, 396,571,740 USDT was transferred from an OKX address to an anonymous address. This amounts to $400 million.
BTC Crosses $97,000 / Below
Kimchi premium at 0%.
BTC Price (Upbit): 162,498,000 won / Binance: 162,409,734 won / Difference = 88,266 won.
USDT Exchange Rate: 1,382 won.
