NEW YORK - Both Wall Street and the cryptocurrency market reeled today after the US first-quarter GDP data release. The figures revealed a slowdown in economic growth and a concerning rise in consumer inflation.Before the opening bell, major stock index futures in New York fell by more than 1%, sign
A recent report by the Korea Institute of Finance (KIF) has raised concerns about the future of Kimchi Coins and similar altcoins with limited market capitalization. The KIF study, titled "Study on Investor Sentiment and Altcoin Trading: Based on Kimchi Coin and SNS Data," highlights the dangers of
Binance, the world's largest cryptocurrency exchange, has implemented a new policy that prohibits project teams from selling their holdings for one year after a coin is listed on its platform, according to a Bloomberg report on March 15th. While seen as a positive step for investor protection, this
To safeguard investors, South Korean financial authorities are finalizing guidelines for listing virtual assets, commonly known as cryptocurrencies, on domestic exchanges. The new standards, expected to be announced by the end of the month, aim to bring greater transparency and accountability to the
In a development defying expectations, South Korea's economy grew 1.3% in the first quarter of 2024, marking the most robust performance since late 2021. This upswing comes after eight consecutive quarters of sluggish growth hovering around zero.A combination of factors drove the expansion. Exports,
South Korea's cryptocurrency market leader, Upbit, has regained its pre-eminent position after a five-month decline, capturing an estimated 81.3% share of domestic trading volume in March. This surge follows the conclusion of a zero-commission policy implemented by competitor Bithumb in October 2023
South Korea unveiled an ambitious plan to become one of the world's top three artificial intelligence (AI) powers by launching a "National Artificial Intelligence Committee" under the President's direct control. This initiative, dubbed the "AI-Semiconductor Initiative," aims to harness national capa
Hong Kong has taken a significant step towards becoming a major cryptocurrency hub in Asia with the official approval of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. The move, announced by the Securities and Futures Commission (SFC) on April 23rd, is expected to boost investor access
Square, the financial services and payments company co-founded by Jack Dorsey, has introduced a new feature that allows sellers to automatically convert a portion of their daily sales into Bitcoin.The announcement, made on April 24th, underscores Square's commitment to Bitcoin and its mission to bro
Arthur Hayes, the former CEO of the cryptocurrency derivatives exchange BitMEX, sees a bright future for Bitcoin, fueled by continued government money printing. In a recent blog post, Mr. Hayes argued that this practice, aimed at managing national debt, will ultimately lead to a devaluation of fiat
As memecoins continue to gain traction in the cryptocurrency market, a prominent figure within the Dogecoin community has raised concerns about the risks associated with their rapid exchange listings.Mishaboar, a well-known personality on the social media platform X (likely referring to Twitter), ex
NEW YORK -- The North Korean hacking group Lazarus, believed to be state-sponsored, is targeting cryptocurrency industry users on LinkedIn, according to a report from Crypto News on April 24th. The group is suspected of using the platform to spread malware and steal digital assets.Blockchain securit
The United States is threatening to restrict certain Chinese banks' access to the dollar, according to a report in The Wall Street Journal cited by Coin Tribune on April 24. This move could significantly impact the global financial system and benefit Bitcoin.The escalating tensions between the U.S.
In a move likely to inflame tensions between the United States and Russia, a Russian court has ruled to seize $440 million in assets from JPMorgan Chase, the largest U.S. bank. The decision, reported by Watchergru on Thursday, comes amid a tit-for-tat exchange of sanctions between the two countries
Ark Invest, the asset management firm led by star investor Cathie Wood, has seen significant outflows from its exchange-traded funds (ETFs) this year, raising concerns about the future of the firm's high-growth investment strategy.According to a Wall Street Journal report, the net outflow from Ark's
In a recent interview with TASS, Russian Foreign Minister Sergei Lavrov heralded a significant development in the economic landscape between Russia and China: the completion of de-dollarization in their bilateral economic relations. Watcher Guru, a reputable source on international affairs, reported
Bybit, a cryptocurrency exchange making waves in the industry, has officially launched its services in the Netherlands. This move comes as the AI-powered cryptocurrency token Bitbot garners increasing attention from investors.Bitbot has completed 11 sale stages, raising $2.6 million during its pre-s
The U.S. Securities and Exchange Commission (SEC) is seeking a hefty $5.2 billion in penalties from Terraform Labs and its co-founder Kwon Do-hyung, following a court ruling that found them liable for misleading investors in crypto assets.The SEC filed a motion in a New York court on April 19th requ
Financial authorities in South Korea launched an on-site inspection at Crypto.com, a significant cryptocurrency exchange, on April 23rd, citing concerns about anti-money laundering (AML) controls. The inspection prompted Crypto.com to postpone the domestic launch of its services, initially planned f
The price of AKT, the digital token that powers the Akash Network for decentralized cloud computing, surged on Tuesday after South Korean cryptocurrency exchange Upbit announced its listing.AKT rose 36.35% over the past 24 hours to $5.53 on CoinMarketCap as of Wednesday morning, New York time. The t