Search results: Gopax

Top blockchain and crypto news: GOPAX deal sees Binance return to South Korea. Inflation fight spooks crypto markets. Chinese liquor giant gives cheers to NFTs.

Binance has returned to South Korea after a two-year break by acquiring a majority stake in the local cryptocurrency exchange GOPAX, Bloomberg reported Friday.

Binance declined to comment on reports in local media that it is in late stage talks to acquire South Korean digital asset exchange GOPAX.

The Genesis brokerage arm of the Digital Currency Group is one of the latest cryptocurrency platforms to lock down withdrawals following the bankruptcy of crypto exchange FTX, and the freeze is spreading.

S.Korean crypto exchange GOPAX halted withdrawal of principal and interest payments in its DeFi service which brokers products from Genesis.

Temasek, Singapore’s state-owned investment firm, said on Monday that it has cut the pay of senior management and the investment team involved in the decision to invest in the now-bankrupt FTX cryptocurrency exchange.

Taking bribes in exchange for listing cryptocurrencies has been common practice among South Korean exchanges, one expert told Forkast.

South Korean prosecutors are investigating Lee Sang-jun, the CEO of Bithumb’s holding company, for alleged bribery in listing certain tokens on the platform.

South Korean blockchain game developer Wemade’s WEMIX token surged after it was relisted on local crypto exchange Coinone on Thursday.

Paxos Trust Company has been ordered by the New York Department of Financial Services (NYDFS) to stop issuing the U.S. dollar-pegged Binance USD (BUSD) stablecoin

Paxos Trust, the issuer of Binance’s BUSD stablecoin, is reportedly being investigated by the New York State Department of Financial Services (NYDFS).

Bitcoin traded below US$23,000 on Monday morning in Asia, tracking a decline in U.S. equities as unexpectedly strong job growth numbers on Friday raised concerns markets may face more interest rate hikes to slow the economy and inflation.

South Korea’s Financial Supervisory Service has recommended a unified system for mandatory disclosure from issuers of cryptocurrencies.

Prosecutors raided the Bithumb crypto exchange on Thursday on allegations of price manipulation and fraudulent transactions in local tokens,

Crypto brokerage firm Genesis Global Capital is preparing to file for bankruptcy as early as this week, Bloomberg reported.

Top blockchain and crypto news: DCG under investigation. Lido DAO surges as Ethereum’s Shanghai upgrade looms. Hong Kong burnishes crypto credentials.

PayProtocol, the South Korean issuer of payments-focused cryptocurrency Paycoin (PCI), will reapply for a local license to stay in business.

Bitcoin and Ether rose in Wednesday afternoon trading in Asia, along with all other top 10 non-stablecoin cryptocurrencies. Solana led gains with an 18% surge, followed by Cardano and BNB.

Barry Silbert, the CEO of Digital Currency Group rejected claims that the company borrowed US$1.6 billion from its Genesis Global Capital.

Cryptocurrencies had a turbulent 2022 to say the least. Blockchain technology made progress but that failed to offset the multiple bankruptcies and hacks that plagued the industry through the year.

From Terra and FTX crises to Ethereum’s triumphant Merge and China’s inventive NFT industry, Forkast reviews a rollercoaster year and its consequences.

CoinDesk, an online crypto news site, has attracted potential buyers to take over the media outlet from Digital Currency Group amid market turmoil, Semafor reported.

The cryptocurrency lender was hit by the earthquake set off across the industry by the collapse and bankruptcy of the FTX crypto exchange this month, and other companies are looking vulnerable.

The chief executive officer of Binance, Changpeng Zhao, regrets sending ‘too late’ a tweet that contributed to the collapse of FTX.com.

Barry Silbert of DCG disclosed his company owes a US$575 million loan and a US$1.1 billion promissory note to its subsidiary Genesis Global Capital.

Top blockchain and crypto news: Fear stalks crypto as Genesis wobbles. FTX cleanup begins. China’s NFT scene shrinks.

The Monetary Authority of Singapore (MAS) said on Monday that it was not possible for the central bank to protect local users from FTX’s collapse as the crypto exchange operated offshore and was not licensed by MAS.

South Korea’s FSC is considering a requirement that crypto exchanges offset investor losses for the sudden suspension of withdrawal services.

S.Korean authorities are looking into self-issued cryptocurrencies that may exist within local exchanges following FTX.com’s FTT-led liquidity crisis.

Genesis Block, a cryptocurrency over-the-counter trading service in Hong Kong, will close its trading portal on Dec. 10, Reuters reported on Friday citing an email the company sent to customers.

Crypto exchange Bullish has said it does not have any exposure to now-bankrupt FTX and Alameda Research, and expects FTX’s bankruptcy to have no impact on Bullish’s operations. The exchange is operated by Bullish (GI) Limited and regulated by the Gibraltar Financial Services Commission. 

The Securities Commission of The Bahamas (Commission) on Nov. 12 ordered the transfer of all digital assets of FTX Digital Markets to a digital wallet controlled by the Commission, for “safekeeping,” in an announcement on Nov. 17.

Korbit, one of South Korea’s five fully licensed crypto exchanges, announced Wednesday that it will reveal its full list of crypto reserves.

The use of blockchain technology in finance will have an impact similar to that of YouTube on the media industry, said Lee Jun-haeng, CEO of South Korea-based blockchain company Streami.

South Korea’s Supreme Prosecutors’ Office is looking to hunt down illegal crypto funds by purchasing a software program that tracks down crypto transactions and sources, a local media outlet reported Friday. See related article: DPRK hackers sneak US$52 mln in crypto into S.Korean exchanges: Chainalysis Fast facts The tracking program is expected to be used […]

South Korea’s internet-only bank KakaoBank has signed a contract with local cryptocurrency exchange Coinone to provide withdrawal and deposit accounts to investors under their real names, per local regulations. See related article: South Korea’s crypto crackdown: What you need to know Fast facts While the partnership deal has been settled, it has not been announced […]

South Korea’s leading digital asset exchange Bithumb is linking its system with mobile applications from three major domestic financial institutions — Samsung Securities, NH Nonghyup and KB Kookmin Bank, Bithumb announced Thursday. See related article: Scarred by Terra-LUNA, South Korea moves ahead with digital asset reform Fast facts Bithumb users can now check up-to-date crypto […]

Aiming to uncover the next “BTS in finance,” Chairman Kim Joo-hyun of the Korean Financial Services Commission (FSC) is calling for “bold reforms” in financial regulations, including in crypto assets.

To protect the country’s investors, South Korea’s top five crypto exchanges are forming a joint council to monitor the listing and delisting of cryptocurrencies. See related article: S. Korea finance regulator to audit Terra and related exchanges Fast facts Upbit, Bithumb, Coinone, Korbit and Gopax, five exchanges authorized to provide cash-to-crypto services in Korea, will […]

Litecoin (LTC), the 20th-largest cryptocurrency in the world, is being ousted from South Korean crypto exchanges after its Mimblewimble Extension Blocks (MWEB) upgrade allowed the token to be sent anonymously — which is against local anti-money laundering regulations. See related article: South Korea’s crypto crackdown: What you need to know Fast facts Upbit, Bithumb, Coinone, […]

South Korea’s ruling party lawmaker Yun Chang-hyun said Terraform Labs founder Do Kwon should be called in for a parliamentary hearing on the collapse of the company’s stablecoin and cryptocurrency. See related article: News of LUNA’s demise greatly exaggerated Fast facts Yun at Tuesday’s National Assembly session said investors had been damaged by the debacle […]

South Korea’s Financial Intelligence Unit (FIU) Thursday said it approved GOPAX as the country’s fifth digital asset exchange to provide cash-to-crypto services. See related article: South Korea’s crypto crackdown: What you need to know Fast facts Cash-to-crypto services on GOPAX starts Apr. 28. Last September, South Korea mandated strict licensing requirements for crypto exchanges to […]

Top blockchain and crypto news: Moscow faces crypto winter. DeFi doyen quits Fantom. China mulls metaverse moves.

Upbit, Bithumb, Coinone, and Korbit announced restrictions to block Russian IP addresses on Thursday, bringing the total to five in the nation.  See related article: S.Korean crypto exchange freezes around 20 Russian accounts Fast facts Gopax was the first crypto exchange in South Korea to publicize the restriction, citing efforts to align with Western sanctions […]

Crypto donations on the rise for Ukraine as Russian aggression continues. Meanwhile in Asia, China’s Two Session’s are set to begin – could Ukraine and crypto be a part of the agenda?

South Korean cryptocurrency exchange Gopax announced on Wednesday that it has frozen and blocked Russian accounts and IP addresses from its platform. See related article: Russian ruble plunges; Ukraine DAO aids civilians Fast facts According to local media, the exchange has blocked around 20 accounts belonging to Russian users. Gopax said its restrictions align with […]

Two of South Korea’s top cryptocurrency exchanges, Upbit and Bithumb, are among the seven local businesses that achieved unicorn status last year, the Ministry of SMEs and Startups (MSS) reported on Tuesday. Fast facts The nation’s top four crypto exchanges dominated 96% of total deposits in the South Korean market, while exchange GOPAX is attempting […]

South Korean crypto exchange GOPAX revealed Tuesday it has partnered with Jeonbuk Bank to provide clients with real-name withdrawal and deposit accounts, qualifying the exchange to offer cash-to-crypto services. Fast facts After registering its new partnership with Korea’s Financial Intelligence Unit (FIU), GOPAX is set to become the fifth digital asset exchange that offers Korean […]

Around 35 virtual asset exchanges will vanish as of midnight Friday, as the country imposes new rules designed to protect consumers.

With only a few days left until Korea’s regulatory deadline for virtual asset exchanges, all have accepted the government mandate in service suspension except for one exchange, Gopax. Fast facts Twenty-four virtual asset exchanges in South Korea are in limbo — they have only met one of two new requirements, and were subsequently asked by […]

Deadline looms for Korean exchanges as Doge meme valuation explodes

Crypto trading platforms rush to meet a Sept. 24 deadline, hoping to comply with new rules designed to protect investors.