Upbit Parent Firm Posts Over 70% Decline in Profits in Q3
According to the latest report, Dunamu’s sales declined by over 66% compared to the same period last year, in addition to its operating profit sliding by 76.6% and net profit…
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South Korea To Change Its Legal Framework To Better Control Crypto Projects
On the heels of the Terra LUNA meltdown and the bankruptcy of FTX, authorities from South Korea are proposing new amendments to the Digital Assets Bill seeking greater control over…
FTX collapse triggers second thoughts on Busan City’s crypto exchange plans
The Busan city administration has signed agreements with multiple crypto firms, including Binance, Huobi Global, Crypto.com, as well as the troubled FTX exchange.
The nightmare continues for Sam Bankman-Fried and FTX — Law Decoded, Nov. 14-21
The founder of FTX provoked the withdrawal of his legal team and now faces the possibility of extradition to the United States.
South Korea and Singapore Hit Hardest by FTX Collapse: Report
On Nov. 20, crypto market data portal CoinGecko released a report on the countries most impacted by the FTX collapse. Unsurprisingly, most are in Asia since U.S. investors were using…
South Korea investigates crypto exchanges for listing native tokens
Initial investigations revealed that all crypto exchanges performed lawful operations across South Korea. However, Flata Exchange is suspected of listing its in-house token, FLAT, in January 2020.
South Korea Confiscates Over $100 Million from Terra’s Co-founder: Report
South Korean prosecutors have seized more than $100 million worth of assets belonging to Shin Hyun-Seong (Daniel Shin), the co-founder of Terraform Labs, for his role in the collapse of…
Terra’s $2.8B Defense System — Luna Foundation Guard Audit Says Group Spent More Than 80,000 Bitcoin Defending UST Peg
Months after the collapse of Terra’s U.S. dollar-pegged token UST, the organization created to protect the once-stable coin, the Luna Foundation Guard (LFG), published an audit report audited by the…
South Korean prosecutors call on Terra co-founder Shin Hyun-seong to cooperate: Report
Authorities reportedly alleged Shin Hyun-seong earned roughly $105 million in profits from illegal sales of LUNA tokens before Terra’s collapse.
Nifty News: Royalty-enforcing NFTs a ‘new asset class,’ South Korea buys NFTs with CBDC, and more
The CEO of NFT marketplace Magic Eden said NFT creators “need a sustained revenue model” and with “no way” of currently enforcing royalties a “new asset class” could emerge to…
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