Archive | Bithumb

World’s First Bank-Backed Crypto Exchange Opens For Trading

VCTRADE, the world’s first bank-backed cryptocurrency exchange, is now open for trading in Japan after its launch last month, reports Coindesk.. The exchange, owned by Japanese banking giant SBI Holdings, has now opened trading to users aged between 20 and 70 years, after only servicing limited pre-registered users, providing that they are resident in Japan. […]

Bithumb Bounces Back With Expansion Plans in Japan and Thailand

Local media recently reported that Bithumb, one of South Korea’s most prominent exchanges, has announced plans to make a move on the Japanese and Thai markets. Korea-Based Exchange Eyes New Markets In an exclusive with ZDNet Korea, Bithumb has announced that it plans to open operations in Japan and Thailand after receiving the required regulatory approval… […]

Bank of Korea: Financial Institutions’ Exposure to Crypto Risks Is ‘Insignificant’

An official report released by the Bank of Korea (BOK) revealed that the outstanding balance of virtual accounts in local banks reached 2 trillion won (US$1.79 billion) as of December 2017. The amount, equivalent to about eight percent of total deposits operated by brokerage houses in South Korea, poses an insignificant risk, according to the… […]

Ethos Gains 100% Due to Bithumb Abnormality, Records 25% Price Surge in 3 Days

Ethos has enjoyed a nice bump in trading price since its global wide launch 3 days ago, but how much is a matter of speculation. Universal Wallet Launch Gains Mass Support Ethos, at the time the 60th largest cryptocurrency, whose new universal wallet promises to take the control of crypto investors private keys away from… […]

Crypto Money Laundering Expected to Reach $1.5 Billion in 2018

A new report has revealed that three times more cryptocurrency has been stolen from crypto exchanges so far in 2018 compared to 2017. Data security company CipherTrace, which released the report, analyse cryptocurrency data to identify illicit money flow and money laundering. Money Laundering Reaches Record Highs Data collected by CipherTrace shows that $761 million… […]

Crypto Week In Review: Institutional Investors are On-Boarding, Bithumb Recovers $16 Million

The week did not leave much to be desired for, with the market seeing a variety of positive institutional news amidst volatile price movements. Institutional Investment Dominates The News Cycle The presence of traditional institutions has been an important topic of discussion in the cryptocurrency community. Many analysts expect that widespread institutional investment will usher in… […]

Bitcoin Falls to a Yearly Low of $5,800: Factors and Trends

The Bitcoin bloodbath of 2018 continues as the leading cryptocurrency fell to a new yearly low of $5,885.41 and still descending. Marking an almost 50% price drop this quarter and down nearly 75% from its all-time high just 6 months ago. Pundits, bulls, and bears all have their own theories on the factors that control the… […]

Charlie Lee: Cryptocurrency Exchange Hacks Don’t Change Market Fundamentals

The founder of the major cryptocurrency Litecoin, Charlie Lee, was interviewed on CNBC following the USD 31 million Bithumb cryptocurrency exchange hack. He said that the Bithumb hack, and any other particular cryptocurrency exchange hack, does not affect the fundamentals of the market. He uses the example that if thieves rob a bank, that doesn’t […]

Entrepreneur Uses $67 Million Life Savings to Acquire a Cryptocurrency Exchange

Earlier this month, it was revealed that Eric Cheng, a Singaporean entrepreneur, spent all of his life savings and sold his properties including two Rolls Royces, Lamborghini, Ferrari, and a Porsche to acquire a 100 percent stake in a Japanese cryptocurrency exchange called BitTrade. Why Cheng was Willing to Take the Risk Less than a… […]

South Korea Forges Ahead with $207M Blockchain Plan As Mood Favors Tech

South Korea is showing faith in blockchain in the light of recent exchange hackings and forging ahead with blockchain developments, according to the EconoTimes. The collective hacking of Bithumb and CoinRail and loss of USD 72 million seems to have done little to dampen the enthusiasm of the Asian powerhouse. The government responded by immediately introduced a […]