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The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Finance

Cryptocurrency

Tue, May 30, 2023 | 17:09

FTX's collapse comes as wakeup call for crypto exchanges to reduce commission reliance

FTX's collapse comes as wakeup call for crypto exchanges to reduce commission reliance

The unexpected insolvency of the once-high-profile cryptocurrency exchange, FTX, comes as a wake-up call for its Korean counterparts to reduce their excessive reliance on trading commission profits and diversify their revenue structures. This situation comes amid investors' growing skepticism about the entire industry, after some seemingly undefeatable market players collapse...

Lee Min-hyung | 2022-11-15 15:17

Korean crypto stocks plunge amid FTX bankruptcy

Korean crypto stocks plunge amid FTX bankruptcy

The meltdown of FTX has triggered a chain reaction in Korea's cryptocurrency-linked stocks, which saw their values plummet on the first trading day after one of the world's largest crypto exchanges filed for bankruptcy. Shares of Com2uS, a game developer which listed its C2X token on the exchange in March, suffered a double-digit decline on Monday, dipping to a new eight-year...

Lee Min-hyung | 2022-11-14 16:25

FTX's collapse throws crypto market into chaos

FTX's collapse throws crypto market into chaos

The abrupt collapse of FTX, the world's third-largest crypto exchange, is affecting more than 10,000 retail and corporate investors, leading to major market disruptions. Ever since the company initiated its U.S. bankruptcy processes recently, major cryptocurrencies and FTX's FTT tokens have been on a sharp decline. Bitcoin was priced around $21,000 on Nov. 6, but plunged belo...

Lee Min-hyung | 2022-11-13 16:54

Gov't to ease LTV ratio to 50% for first-home buyers, allow loans for expensive homes

Gov't to ease LTV ratio to 50% for first-home buyers, allow loans for expensive homes

The government said Thursday that first-home buyers will be able to borrow up to 50 percent of the value of a property to secure their loan as collateral, in a bid to prevent the recent downturn in the property market due to the current costly borrowing rate.

Yi Whan-woo | 2022-11-10 16:44

Investors spooked by abrupt bank run on FTX

Investors spooked by abrupt bank run on FTX

Cryptocurrency investors have been spooked by the ongoing market crash caused by Binance's overnight decision to pull out of a deal to acquire FTX, one of the world's largest crypto exchanges. The abrupt decision came amid escalating concerns over FTX's liquidity crisis after the company halted all crypto withdrawals.

Lee Min-hyung | 2022-11-10 16:18

Dunamu holds forest tending campaign on metaverse platform

Dunamu holds forest tending campaign on metaverse platform

The country's leading blockchain and cryptocurrency exchange operator Dunamu is holding a virtual conservation campaign on its metaverse platform 2nd Block. According to Dunamu, the “forest tending campaign with 2nd Forest,” enables participants to take care of a virtual forest. The campaign, open to anyone through the metaverse, aims at promoting how to properly take care of...

2022-11-09 16:19

BOK completes mock test on digital currency

BOK completes mock test on digital currency

The Bank of Korea (BOK) said Monday it has found some technical "restrictions" standing in the way of the introduction of a central bank digital currency (CBDC) as it has completed a mock test on the feasibility of the new form of money.

2022-11-07 13:54

Upbit introduces independent login system

Upbit introduces independent login system

Upbit, the nation's dominant cryptocurrency exchange, introduced its independent login system, providing users with easier and more secure access, Monday. Upbit users can log in with either a personal identification number or biometric authentication without installing other programs or apps, it said.

Lee Min-hyung | 2022-10-31 16:44

Dunamu's Momentica offers digital collectibles for global fans

Dunamu's Momentica offers digital collectibles for global fans

Digital cards of the seven members of boy band ENHYPEN have become available for global fans to collect for the first time on the Momentica digital collectibles platform. Momentica is operated by Levvels, a joint venture established by Dunamu and HYBE, Korea's leading firms in cryptocurrency and entertainment, respectively. The Los Angeles-based subsidiary focuses on the emer...

Lee Min-hyung | 2022-10-26 16:41

Assembly to bring charges against Korean crypto moguls for absence at audit

Assembly to bring charges against Korean crypto moguls for absence at audit

Lawmakers are moving to bring charges against Korean crypto magnates for not appearing after being summoned as witnesses to the National Assembly's annual audit regarding the recent Luna debacle.

Lee Min-hyung | 2022-10-25 08:45

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