Uk Jin

THORChain Slides on Signs of Hack, With Losses Estimated at More Than $7.4 Million

On-chain analyst ZachXBT said on May 15 that signs of a large-scale hack had been detected at THORChain, the decentralized cross-chain protocol behind RUNE. In a post on X, formerly known as Twitter, ZachXBT wrote that THORChain appeared to have been

Iran Terror Victims Sue Tether for Release of Frozen $344 Million in USDT

Victims of Iran-linked terrorist attacks and their relatives have sued Tether in U.S. court, seeking the release of about $344 million in frozen assets. The Block reported on May 15 that the plaintiffs asked the U.S. District Court for the Southern D

Bithumb’s First-Quarter Operating Profit Plunges 95.8% to $2.1 Million

Bithumb, the South Korean cryptocurrency exchange, reported a sharp drop in first-quarter operating profit. A filing posted May 15 on the Financial Supervisory Service’s electronic disclosure system showed first-quarter revenue fell 57.6% from a year

Digital Asset Protection Foundation to Promote ‘Hidden Asset Finder’ Service

The Digital Asset Protection Foundation has developed promotional content for a nationwide “Hidden Asset Finder” service and plans to release it later this year, MTN News reported on May 15. The campaign is designed to make it easier for users to che

Dunamu First-Quarter Operating Profit Tumbles 78% to $63.7 Million

Dunamu Inc., the operator of Upbit, South Korea’s largest cryptocurrency exchange, reported weaker first-quarter earnings. A regulatory filing on May 15 showed the company’s consolidated operating profit fell 78% from a year earlier to 88 billion won

Smart Web Company Buys 10 More Bitcoin, Raising Holdings to 2,840

Smart Web Company bought additional Bitcoin to strengthen its asset portfolio. Bitcoin Treasuries said on May 15 that the company purchased 10 more Bitcoin. The latest purchase raised Smart Web Company’s total Bitcoin holdings to 2,840, ranking it 27

B2C2 Secures MiCA License in Luxembourg

Market maker B2C2 has obtained a crypto-asset service provider license in the European Union. The Block reported on May 15 that B2C2 received a Crypto-Asset Service Provider, or CASP, license from Luxembourg’s Commission de Surveillance du Secteur Fi

Bit Digital Q1 Revenue Falls 14%, Posts $146.7 Million Net Loss

Bit Digital, a Nasdaq-listed US company, reported lower revenue in the first quarter from the previous quarter, as cloud services, Ethereum staking and digital-asset mining revenue declined. The Block reported on May 15 that Bit Digital posted first-

CLARITY Act May Extend Dollar Stablecoins’ Global Reach, Draw Capital to Asia

The U.S. Senate is moving ahead with the CLARITY Act, a crypto market-structure bill that could further expand the global influence of dollar-backed stablecoins if it becomes law, CoinDesk reported on May 15. The Senate Banking Committee approved the

Kraken Switches Cross-Chain Bridge to Chainlink CCIP to Bolster Security

Crypto exchange Kraken is switching its cross-chain bridge infrastructure to Chainlink's Cross-Chain Interoperability Protocol, or CCIP. Cointelegraph reported on May 15 that Kraken will end support for its existing LayerZero-based bridge and migrate

Australia Pushes Capital Gains Tax Overhaul, Stoking Concern for Crypto Investors

Australia's proposed overhaul of capital gains tax is fueling concern that crypto investors could face a much heavier tax burden. Cointelegraph reported on May 15 that Australia's ruling Labor Party unveiled the changes as part of its fiscal 2027 bud

DWF Labs Says 12-Year Wait for IPOs Is Fueling On-Chain Demand for Private AI Stakes

A longer runway to initial public offerings is pushing demand for pre-IPO equity exposure into on-chain markets, DWF Labs said in a report. Some private-company stakes are trading at premiums to their underlying market value. In the May 14 report, DW

First Digital CEO Sees AI Payments Rising, Says Korea Needs Digital Won

Interview with First Digital CEO Vincent Chok Issuer of dollar stablecoin FDUSD Pursuing a Nasdaq listing and expanding its AI agent business "The won needs a stablecoin to internationalize" "Korea's top priority should be a digital-asset framework l

BitPlanet to Raise $5.1 Million Through Convertible Bonds for Bitcoin Mining Expansion

BitPlanet said on May 14 it will issue 7 billion won ($5.1 million) in convertible bonds to buy Bitcoin mining equipment and deploy the machines at overseas sites. The board approved the simultaneous issuance of two privately placed unsecured convert

Binance Says Faster Institutional Crypto Adoption Requires TradFi-Grade Infrastructure

Binance, the world’s largest cryptocurrency exchange, said the digital-asset industry needs to reshape its market structure as institutional investors account for a growing share of the market. The industry must evolve to provide more mature financia

Aptos Signs MOU With BDACS to Expand KRW1 Stablecoin Ecosystem

Aptos, a global blockchain infrastructure company, said on May 13 that it signed a strategic memorandum of understanding with BDACS to expand the ecosystem for KRW1, a won-pegged stablecoin. KRW1 is the world’s first won-denominated stablecoin issued

BDACS, Aptos Partner to Build On-Chain Commerce Ecosystem for KRW1 Stablecoin

BDACS, a digital-asset infrastructure company, said on May 13 that it signed a memorandum of understanding with layer-1 blockchain platform Aptos to expand the ecosystem for KRW1, a won-pegged stablecoin, and cooperate on infrastructure. The company

South Korea’s Rival Parties Push Digital Asset Bill After Local Elections, Call Stablecoins Urgent

National Assembly Stablecoin Seminar Ruling and opposition parties say they will take up the Digital Asset Basic Act immediately after local elections Tether says a won-based stablecoin could help connect South Korea with global capital South Korea’s

First Digital CEO Says Stablecoins Are Essential to AI Payments, Sees Strong Potential for Won Token

"Payments by AI agents would be impossible without stablecoins, digital assets pegged to fiat currencies." Vincent Chok, chief executive officer of First Digital, made the remarks on May 12 at a seminar at South Korea's National Assembly in Seoul on

Korea Should Adopt Risk-Based Stablecoin Rules Instead of Blanket Regulation

South Korea should adopt a differentiated regulatory framework for stablecoins based on the risk profile of each digital asset, rather than imposing uniform rules across the board, speakers at a seminar in Seoul said. They added that Korea should des

South Korean Parties Back Stablecoin Push, Promise Fast-Track Digital Asset Law After Local Elections

South Korea’s ruling and opposition parties called fostering the domestic stablecoin market an urgent priority, pledging to fast-track a digital asset framework law after local elections. At a May 12 seminar at the National Assembly in Seoul on globa

Ondo Finance Jumps 52% in a Week After Joining DTCC Tokenization Working Group

Ondo Finance (ONDO) has surged over the past week. According to CoinMarketCap, ONDO was trading at $0.4260 as of 10:45 p.m. on May 9, up 6% from a day earlier. That marked a 52.56% gain from a week earlier. The rally appears to have been driven by ne

Strategy CEO Says Company Has Generated $5 Billion in Bitcoin Gains This Year

Strategy, the world's largest corporate holder of Bitcoin, shared an update on its Bitcoin performance. Chief Executive Officer Phong Le wrote on X on May 9 that the company's Bitcoin yield has reached 9.4% so far this year, translating to about $5 b

Kelp DAO Says It Will Start Asset Recovery Work With Aave Within 24 Hours

Kelp DAO, which suffered what it described as the worst hack of the year, said it will formally begin procedures to recover and restore rsETH, the asset frozen in the attack, in coordination with Aave. In a post on X on May 9, Kelp DAO said it plans

JPMorgan Says Money Is Shifting From Gold to Bitcoin as US Debt Tops $39 Trillion

As US government debt has climbed past $39 trillion, stoking warnings of a fiscal crisis, investors seeking protection against a weakening dollar are shifting from gold to Bitcoin, according to JPMorgan. The Block reported on May 9 that a JPMorgan re

Bitcoin Exits Bear Market, Enters Neutral Phase, CryptoQuant Says

Bitcoin has emerged from a bear market and entered a neutral phase, according to CryptoQuant, an on-chain cryptocurrency analytics firm. In a report published on May 9, CryptoQuant contributor Easy on Chain wrote that the Bitcoin market had absorbed

US Court Allows Aave to Move $71 Million Frozen in North Korea-Linked Hack Case

A U.S. federal court has allowed Aave to transfer about $71 million in frozen cryptocurrency tied to a North Korea-linked hacking case. CoinDesk reported on May 9 that U.S. District Judge Margaret Garnett in Manhattan partially modified a freezing or

Tokenized Real-World Asset Market Grows 10-Fold in Two Years, Tops $30 Billion

The market for tokenized real-world assets, or RWAs, has expanded tenfold over the past two years, pushing its total value above $30 billion. RWAs are real-world assets converted into tokens that can be traded on blockchain networks. A16z crypto wrot

Bitdeer Mines 193.8 Bitcoin in a Week, Sells Entire Output

Bitdeer said on X, formerly known as Twitter, on May 9 that it mined 193.8 Bitcoin over the past week. It sold all of the tokens it mined, leaving its total Bitcoin holdings at zero. The company has recently sought to diversify beyond its core Bitcoi

Coinbase, Kraken, Gemini Seek Removal of CLARITY Act Market Manipulation Provision

Major US cryptocurrency exchanges are objecting to parts of the CLARITY Act. Cointelegraph reported on X on May 9 that US crypto exchanges including Coinbase, Kraken and Gemini recently asked US lawmakers to remove language in the bill related to pre