Tag Archives: bithumb

Checking if the site connection is secure Enable JavaScript and cookies to continue www.coinspeaker.com needs to review the security of your connection before proceeding.

The Vice President of Vidente, referred to as Mr. Park, was found dead in front of his house in southern Seoul. Vidente happens to be the largest shareholder of Bithumb Holdings Co., the firm behind the South Korean crypto exchange Bithumb. According to local news reports, Park was under investigation on charges of embezzlement and manipulation of stock price. The exec was also rumored to have been overseeing accounting for Kang Ji-Yeon and her brother Kang Jong-Hyun when he...

South Korean prosecutors are pushing for an eight-year sentence for Lee Jung-hoon, the former chairman of crypto exchange platform Bithumb, for an alleged $70 million fraud. According to a report by the local media outlet Yonhap, prosecutors alleged that Lee had defrauded Kim Byung Gun, the chairman of Singapore-based BK Group, in a failed attempt to acquire Bithumb earlier in 2018. The Genesis As per the report, Lee convinced Kim to issue Bithumb Coin (BXA) via the BK...

Crypto exchange FTX is reportedly in talks to buy Bithumb. The legal issues connected to its former chairman will, however, hinder any possible sale.According to reports, Lee Jung-hoon, the de facto owner of the South Korean bitcoin exchange Bithumb, is now facing an 8-year jail sentence.The owner who is also a former chairman of Bithumb Holdings is accused of committing a large-scale fraud worth around 100 billion won ($70 million). Lee was indicted by South Korean prosecutors in July 2021...

11 mid-sized cryptocurrency trading venues in South Korea will reportedly cease their operations after the country’s watchdog identified that they operate their businesses illegally. The names of the exchanges remained undisclosed. Chain of Reaction in South Korea According to a recent report by The Korea Held, 11 mid-sized cryptocurrency platforms will soon shut down as the Financial Services Commission established that they run their operations without the needed...

South Korea is cracking down on cryptocurrency exchange activity within its borders. South Korea Is Taking a Stance South Korea, at one time, accounted for more than one quarter of the world’s bitcoin and crypto transactions, though it appears the country’s presence within the digital currency space has died down a bit over the last three years. Nevertheless, the nation is still looking to purge all foreign digital currency exchanges from its terrain as a means of ending...

Just a few days after news broke that Morgan Stanley will enable its institutional clients to buy bitcoin, the giant investment bank has reportedly started negotiations to purchase a stake in the largest South Korean cryptocurrency exchange – Bithumb. According to coverage from the Asian media website Naver News, Morgan Stanley is the latest prominent entity from the traditional financial space to consider a purchase in Bithumb. The giant bank reportedly plans to acquire a major stake in the...

South Korea’s financial regulator, the Financial Services Commission (FSC), has announced new possible penalties for cryptocurrency exchanges based or operating in the country if they fail to comply with existing anti-money laundering (AML) rules.New Penalties for Crypto Exchanges in South KoreaAccording to the FSC’s statement from earlier today, the newly-announced initiative will affect all virtual asset service providers (VASPs), including digital asset exchanges.The revision proposal for...

A recent report fueled the rumors that the South Korean digital asset exchange Bithumb is indeed for sale by naming a potential buyer. It indicated that the Tokyo, Japan-headquartered gaming conglomerate Nexon is preparing to purchase a controlling stake in the trading platform. Numerous reports from the past several months suggested that the Asian exchange is in trouble as authorities had raided the company’s offices on several occasions.The situation worsened as the exchange closed some...

Massive amounts of Ripple’s XRP have been transferred to various exchanges, including $400 million sent to Bithumb in three separate transactions. One possible explanation for this could be the fact that there’s the SPARK (FLR) airdrop coming in two days, causing investors to capitalize on the opportunity and receive 1:1 FLR tokens on their XRP holdings. XRP Sent Around in Massive Chunks Over the Past 24 HoursData from the well-known whale-tracking transaction resource Whale Alert shows a...