Mirae Asset's acquisition of Korbit may accelerate the integration of traditional finance with digital assets, fostering innovative investment products.
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The post Bitcoin Holds Near $62K as Extreme Fear Grips Global Markets appeared on BitcoinEthereumNews.com.
Crypto News Global risk appetite steadied on Thursday as South Korea’s KOSPI staged a sharp reversal and Bitcoin (BTC) held near $62,000. The benchmark index peaked at 7,539, a gain of nearly 4% from Wednesday’s close of 7,246.79, pulling it back above the threshold that had confirmed a bear market only a day earlier. The rebound handed Asian equities brief relief after a punishing midweek slide. For crypto traders tracking correlated risk assets, the move mattered, as digital assets and altcoins have moved in tandem with equities during recent volatility spikes, and Bitcoin’s grip on the $62,000 area mirrored the equity bounce even as sentiment stayed fragile across markets. The rebound followed a brutal Wednesday session. The KOSPI fell 5.35% to close at 7,246.79, its lowest level since May 20, sinking more than 20% below its June 22 record of 9,114.55 — the drawdown threshold t
South Korea's record-low bond spreads enhance its financial stability, signaling strong investor confidence and bolstering foreign reserves.
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The post KOSPI Rebounds Nearly 4% in Early Trading, Escaping Bear Market Territory appeared on BitcoinEthereumNews.com.
South Korea’s KOSPI peaked at 7,539 on Thursday, July 9, a gain of nearly 4% from Wednesday’s close of 7,246.79. The rebound pulls the benchmark back above the threshold that confirmed a bear market just a day earlier. Wednesday’s Plunge Set the Bear Market Trigger The rebound follows a brutal Wednesday session. The KOSPI fell 5.35% to close at 7,246.79, its lowest level since May 20. That close sat more than 20% below the index’s June 22 record of 9,114.55, the threshold traders use to confirm a bear market. Sharp swings in chipmaker stocks tied to AI demand worries, along with growing concern over leveraged single-stock ETFs, drove the sell-off and triggered a sidecar trading halt. Korea’s KOSPI has seen heavy volatility of late, with swings pushing it in and out of bear market territory. Image Source: Trading View Chip Stocks Remain the Swing Factor Samsung Electro
McKernan's departure may delay fintech and crypto regulation, impacting policy development amid ongoing legislative debates on digital assets.
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South Korea's growth upgrade highlights its pivotal role in AI hardware, but reliance on few buyers poses risks amid potential market shifts.
The post South Korea gets the IMF’s biggest growth upgrade among major economies appeared first on Crypto Briefing.
The dominance of retail investors in South Korea's leveraged ETF market highlights potential systemic risks and regulatory challenges amid high volatility.
The post Retail investors drive leveraged ETFs to 70% of South Korea’s $4.3T market appeared first on Crypto Briefing.
The post Kraken Auditor Win Reopens Crypto Debanking Fight appeared on BitcoinEthereumNews.com.
Key Insights Kraken parent Payward won $22 million against Mazars USA. Mazars quit the near-complete audit despite finding no fraud. The dispute strengthened calls for CLARITY Act passage. Kraken parent Payward asked the Delaware Court of Chancery to enforce an arbitration award against Mazars USA. The crypto exchange said the auditor left its near-complete audit without fraud findings, raising fresh questions about debanking pressure. The case placed Kraken back inside a broader U.S. policy fight. Payward co-CEO Arjun Sethi tied the dispute to Operation Chokepoint 2.0 and pushed Congress to pass the CLARITY Act. Kraken Says Auditor Exit Created Business Harm Payward said Mazars withdrew from its 2022 audit days before completion. Sethi said the firm found no fraud, raised no management integrity concerns, and reported no accounting disputes. That withdrawal mattered because audits shape acc
The MOU could revolutionize fintech in South Korea by integrating blockchain, potentially transforming payment systems and regulatory landscapes.
The post Optimism signs MOU with Toss to explore onchain payments for 30 million users in South Korea appeared first on Crypto Briefing.
