Suehyeon Lee

Bitcoin Reclaims $65,000 as US-Iran Hostilities Pause for Second Day; Oil Slides 5%

Bitcoin climbed back above $65,000 after the US and Iran held off on military strikes for a second straight day. CoinDesk reported on July 27 that Bitcoin was trading in the $65,000 range, up about 1.2% from 24 hours earlier. Ether rose more than 3%

BitMart Shows Signs of Withdrawal Delays Ahead of Shutdown, BMX Drops 81% in a Week

Cryptocurrency exchange BitMart is showing signs of delays in customer withdrawals as it begins winding down operations. Cointelegraph reported on July 27 that on-chain analytics account Lookonchain said only 58 wallets withdrew funds from BitMart ov

Japan LDP Lawmaker Pushes to Ease 2x Leverage Cap on Crypto Trading

A lawmaker from Japan’s ruling Liberal Democratic Party has called for easing leverage restrictions on cryptocurrency trading. Nikkei reported on July 27 that Seiji Kihara told a financial summit in Tokyo the current 2x leverage cap on crypto trading

U.S. Spot Bitcoin, Ether ETFs Post Weekly Net Inflows for Third Straight Week

U.S. spot Bitcoin and Ether exchange-traded funds posted weekly net inflows for a third straight week. Wu Blockchain reported on July 27 that U.S. spot Bitcoin ETFs recorded net inflows of $33.79 million in the week of July 20 to July 24. U.S. spot E

Garden Finance Halts Service After Solver Database Breach, Loss Estimated at $450,000

Garden Finance, a cross-chain bridge and atomic-swap protocol, has temporarily suspended services after an independent solver's off-chain database was breached. The protocol and its smart contracts were not hacked, and no user funds were affected, ac

Bitcoin Long-Term Holder Selling Slows as Dormant BTC Transfers Fall to Four-Year Low

Bitcoin selling pressure from long-term holders has eased sharply, with dormant BTC transfers dropping to their lowest level in four years. Cointelegraph reported on July 26 that Alex Thorn, head of research at Galaxy, published data showing dormant

Coinbase CEO Says Crypto Will Become More Important in AI Era, Pushes ‘Agentic Finance’

Cryptocurrencies will play a bigger role as the artificial intelligence industry expands, according to Coinbase Chief Executive Officer Brian Armstrong. In a post on X on July 26, Armstrong pushed back on the idea that people in crypto should pivot t

Won Strengthens on SK Hynix Dollar Sales as South Korea Urges Exporters to Convert More FX

The won is rebounding sharply as companies step up dollar sales after SK Hynix's US stock listing. South Korean foreign-exchange authorities are also urging exporters to bring home dollars held overseas and convert more of them into won. Bloomberg re

WEMIX Hit by Smart-Contract Ownership Attack, $724,000 in Crypto Stolen

Layer-1 blockchain WEMIX said a smart-contract ownership attack led to the theft of about $724,000 in cryptocurrency. Cointelegraph reported on July 26 that WEMIX disclosed an attack at 9:17 a.m. UTC in which ownership of a contract tied to its stabl

US Senate Has Two Weeks to Pass CLARITY Act as Ethics Dispute Persists

The US Senate has about two weeks to pass the CLARITY Act, legislation that would set the market structure for digital assets, as Democrats and Republicans remain at odds over a key ethics provision. CoinDesk reported on July 26 that lawmakers releas

Storj Labs Files for Chapter 11 Bankruptcy Protection, Says Services Will Continue

Storj Labs, the developer of the decentralized cloud storage network Storj, has filed for Chapter 11 bankruptcy protection in a US court. Business Insider reported on July 26 that the company voluntarily entered Chapter 11 proceedings to address its

Posco International, LG CNS Start Blockchain Pilot for Trade Receivables Tokenization

Posco International, South Korea’s largest general trading company, has launched a pilot project with LG CNS to put trade receivables on a blockchain. CoinDesk reported on July 27 that Posco International and LG CNS had begun a proof-of-concept proje

Today’s Key Economic and Crypto Events: U.S. June Durable Goods Orders

Today’s Key Economic Events ▶ July 27 (Monday): U.S. June durable goods orders (9:30 p.m. Korea Standard Time) Today’s Key Cryptocurrency Events ▶ July 27 (Monday):

Coupang, Woori Bank Complete Real-Time Settlement Test Using Won Stablecoin, a Korean First

Coupang said July 27 that it completed a proof-of-concept for real-time settlement using a won-denominated stablecoin with Woori Bank. The companies said it was the first case in South Korea to verify the full process, from payment and real-time sett

Nvidia Discusses $250 Billion Guarantee for OpenAI Data Center Project

Nvidia is discussing providing about $250 billion in guarantees to support OpenAI’s lease of computing capacity from a massive data center project, The Wall Street Journal reported. The Journal reported July 26 that Nvidia is in talks to provide Open

KB Kookmin to Launch Trade Payment Service on JPMorgan Blockchain Network, First for South Korean Finance

KB Kookmin Bank said July 26 that it will launch next month a payment service for importers and exporters using JPMorgan Chase & Co.'s blockchain payments infrastructure. The offering follows a business agreement between KB Kookmin and JPMorgan on bl

Oil Plunges 6% as US Halt to Iran Strikes Fuels Hopes for Easing Tensions

International oil prices tumbled after the US halted airstrikes on Iran, easing concerns over supply disruptions in the Middle East. Bloomberg reported on July 26 that Brent crude fell about 6% to around $91 a barrel. West Texas Intermediate traded b

Fed Faces Hold-or-Hike Decision as Middle East Oil Surge Revives Case for Tightening

The Federal Reserve heads into this week’s rate decision with the possibility of another increase back in focus as rising tensions in the Middle East and a jump in oil prices cloud the inflation outlook. Bloomberg reported on July 26 that the Fed wil

Michael Saylor Signals Fifth Straight Week of Bitcoin Buying, but Strategy Has Yet to Act for a Month

Michael Saylor, co-founder and chairman of Strategy, posted another message suggesting the company may buy more Bitcoin. But Strategy has gone four straight weeks without adding to its holdings, and no new transaction has been confirmed. The Block re

U.S. Senate Speeds CLARITY Act Push as Crypto Market Seeks a Turnaround

U.S. Senate Steps Up CLARITY Act Drive Outlook for Passage This Year Remains Split Passage Could Lift Sentiment and Reverse Market Mood The U.S. Congress is accelerating work on the CLARITY Act, a market-structure bill for digital assets, raising que

US Clarity Act Passage Odds Sink to 38%; Bitcoin Falls as Oil, Treasury Yields Rise

Bitcoin came under pressure as oil prices and Treasury yields climbed and uncertainty over US crypto regulation deepened. CoinDesk reported on July 23 that Bitcoin traded near $65,500, down about 0.7% from the previous day's high of $66,700. Major al

Mirae Asset Completes Korbit Takeover, Moves to Raise Stake to 97.15%

Mirae Asset has completed its acquisition of cryptocurrency exchange Korbit and has started procedures to increase its stake further. Korbit said on July 23 that Mirae Asset Consulting, an affiliate of Mirae Asset Financial Group, completed the requi

SEC Settles Coinbase Records Lawsuit, Agrees to Pay $150,000 Over Deleted Texts

The U.S. Securities and Exchange Commission has settled a lawsuit with Coinbase over the release of internal documents, agreeing to pay $150,000 in legal fees. Cointelegraph reported on July 23 that the SEC and Coinbase filed a settlement agreement i

Coinbase to Expand Singapore Headcount to 200 Despite Global Job Cuts

Coinbase plans to expand its Singapore team even as it cuts jobs globally. Bloomberg reported on July 22 that Coinbase plans to increase its Singapore headcount to 200 from 150 by year-end. Hasan Ahmed, head of Coinbase’s Singapore unit, told The Bus

US Spot Ether ETFs Draw $72.7 Million, Extending Inflow Streak to Four Sessions

US spot Ether exchange-traded funds extended their run of net inflows. US spot Ether ETFs recorded net inflows of $72.7 million on July 22, according to Farside Investors. That marked a fourth consecutive trading day of net inflows. BlackRock's ETHA

US Spot-Bitcoin ETFs Draw $69.1 Million, Extend Inflow Streak to Seven Sessions

U.S. spot-Bitcoin exchange-traded funds extended their streak of net inflows. Farside Investors data showed on July 23 that U.S. spot-Bitcoin ETFs recorded combined net inflows of $69.1 million the previous day. The gains marked a seventh straight tr

Arbitrum-Based AFX Trade Loses $24.15 Million in Bridge Hack

AFX Trade, a DeFi protocol on Arbitrum, lost about $24.15 million in crypto assets in a bridge hack. The Block reported on July 22 that blockchain security firm Blockaid had identified an outflow of about $24.15 million in USDC from a bridge operated

Grayscale Says Bitcoin Bear Market Could Extend Through September or October

Grayscale says Bitcoin’s bear market could continue through September or October. Wu Blockchain reported on July 22 that if Bitcoin’s traditional four-year market cycle repeats, the current downturn may last until September or October. Grayscale said

Toss, Toss Bank Partner With Circle on Stablecoin Payments Infrastructure

Toss and Toss Bank said July 23 that they signed a strategic memorandum of understanding with Circle Internet Group to cooperate on blockchain payments infrastructure and stablecoin technology. Under the agreement, the three companies will explore co

Senate Republicans to Pursue CLARITY Act Vote as Soon as Next Week Without Democratic Deal

Senate Republicans plan to pursue a vote as soon as next week on the CLARITY Act, a digital-asset market structure bill, regardless of whether they reach an agreement with Democrats. Cointelegraph reported on July 22 that Senate Majority Leader John