Mirae Asset injects 50B won into Korbit after takeover

Mirae Asset Group is preparing to inject 50 billion won, roughly $35 million, into the operator of South Korean crypto exchange Korbit less than a month after completing its takeover of the company.  SummaryMirae Asset will inject 50 billion won into Digital X following its completed Korbit acquisition.Digital X will issue 10,078,614 new shares at 4,961 won each to Mirae Asset Consulting.Mirae Asset Consulting owns 97.15% of Digital X after completing the crypto exchange takeover recently.Korbit recorded a 15.4 billion won operating loss in 2025 despite higher annual revenue growth.South Korea approved the acquisition after finding little competition risk from Korbits market position domestically.  Digital Xs board approved the capital increase on Aug. 12, with payment scheduled for Aug. 27, News1 reported Thursday.  Digital X will issue 10,078,614 common shares at 4,961 won each through a third party allotment. All new shares will go to Mirae Asset Consulting, the Mirae affiliate that already controls 97.15% of the company. Digital X said the proceeds are intended to improve its financial structure and meet immediate management funding needs.  Mirae Asset backs Korbit with 50B won after acquisition  You might also like:  South Koreas Korbit becomes Digital X under Mirae Asset ownership  Mirae Asset adds fresh capital weeks after buying

2 دن پہلےانڈسٹری

South Korea tightens crypto transfers to overseas exchanges

South Korea will tighten transfers between domestic crypto platforms and overseas exchanges or self-hosted wallets under anti-money laundering rules approved by the Cabinet on Aug. 11.  The Financial Services Commission said registered virtual asset service providers will have to apply risk-based controls to such transfers and operate internal suspicious-transaction monitoring for amounts of 10 million won or more.  The final framework is less rigid than a March proposal that would have treated every transfer above 10 million won to an overseas exchange or personal wallet as automatically suspicious. After industry objections, the FIU shifted to a system in which each registered provider assesses risk under its own controls rather than filing a suspicious transaction report solely because the amount crosses the threshold.  South Korea will grade overseas crypto transfers by risk  Under the approved framework, transfers to low-risk overseas exchanges may proceed. Transfers involving other overseas exchanges or self-hosted wallets will generally be permitted only when the sender and recipient are the same person, while transfers involving high-risk counterparties can be prohibited, according to the FSC.  The rules also strengthen checks around larger transfers. News1 reported that domestic exchanges may seek additional evidence such as proof that an overseas account belongs to the customer, the

2 دن پہلےانڈسٹری

New “Zoomsday” exploit could expose crypto users to zero click attacks

A newly disclosed set of Zoom vulnerabilities has shown how attackers could take control of another meeting participants device without any action from the victim, creating a fresh security risk for crypto users who have repeatedly been targeted through video calls.  SummaryA Security said a researcher used fewer than 20 AI prompts to find three Zoom vulnerabilities and build a working exploit in under 24 hours.The Zoomsday attack could take control of a meeting participants device without requiring any action from the victim.Crypto users face added risk as hackers have previously used compromised Zoom meetings to steal wallet data and other sensitive information.Zoom released fixes between June 22 and July 20, but users on older versions still need to update their apps.  According to Israeli cybersecurity firm A Security, a researcher used fewer than 20 prompts with publicly available artificial intelligence models to uncover the flaws and build a working attack in less than 24 hours. The firm named the attack “Zoomsday” and said the vulnerabilities affected Zooms annotation system, which lets meeting participants draw or add notes to shared content.  Once exploited, the flaws could allow malicious code to run on another participant‘s device without requiring the person to download a file,

2 دن پہلےانڈسٹری

BitGo Q2 revenue rises 80% to $4.3B as loss hits $19M

BitGo Holdings reported $4.33 billion in second quarter revenue on Aug. 12, up 79.6% from $2.41 billion a year earlier, as digital asset sales and its stablecoin business expanded.  SummaryBitGos revenue rose 79.6% year over year to $4.33 billion, led by digital asset sales.Net loss reached $19 million, reversing $38.3 million profit, partly reflecting digital asset valuation swings.Client count grew 26% to 5,833 while normalized platform assets reached $65.2 billion during quarter.Stablecoin-as-a-Service revenue increased 148% to $38.8 million, while staking revenue fell 28.8% year over year.CFO Ed Reginelli will resign September 15, while BitGo conducts a formal search for successor.  The company nevertheless recorded a $19 million net loss, compared with $38.3 million in net income a year earlier, according to its release. The loss narrowed sharply from $60.7 million in the first quarter.  The results provide a more mixed picture than the headline revenue increase suggests. Most of BitGos revenue comes from digital asset sales that are reported on a gross basis and carry nearly matching direct costs. The quarter also brought a 15% workforce reduction, continuing internal control weaknesses and a forthcoming change in chief financial officer.  You might also like:  BitGo switches WBTC from LayerZero to Chainlink CCIP  BitGos $4.3B revenue came with

2 دن پہلےانڈسٹری

Mirae Asset to inject additional $35 million into Korbit crypto exchange following July acquisition: report

Quick TakeSouth Koreas Mirae Asset is injecting 50 billion won worth of fresh capital into Korbit, following its acquisition of the South Korean crypto exchange.The funds will reportedly be used to improve its financial structure and address urgent management needs.  DigitalX, the operator of South Korean crypto exchange Korbit and a newly acquired affiliate of Mirae Asset Group, has reportedly resolved to raise roughly 50 billion Korean won ($35.3 million) through a capital increase.  According to South Korean news agency News1, DigitalXs board of directors approved the issuance of more than 10 million new common shares at 4,961 won ($3.5) per share. The entire issuance will reportedly be allotted to Mirae Asset Consulting, which owns DigitalX. Payment is due on Aug. 27, News1 reported.  DigitalX stated that the funds will be used to improve its financial structure and address urgent management needs, per the report. A company spokesperson declined to confirm the news in a phone call with The Block.  Mirae Asset completed the acquisition of Korbit in July, with Mirae Asset Consulting acquiring 97.15% of the company for roughly 130 billion won ($91.5 million). South Koreas Fair Trade Commission approved the acquisition last month.  Rebranding  Earlier this week, Korbits operating company announced that it is

2 دن پہلےانڈسٹری

Metaplanet CEO shuts down Bitcoin sale speculation after $322M transfer

Metaplanet CEO Simon Gerovich has shut down speculation that the Japanese Bitcoin treasury company was selling its holdings.  “This was a routine custody operation. No bitcoin was sold, and our holdings remain 43,000 BTC,” Gerovich said Thursday.  The company transferred 5,014 BTC ($322 million) over a 24-hour span starting Wednesday. Gerovich said the network fees to move the trove cost Metaplanet about $8.  Metaplanet is the third-largest publicly traded Bitcoin treasury company and the largest in Asia. According to Arkham data, it is sitting on an unrealized loss of about $1.4 billion.  Metaplanet has continued to expand its Bitcoin strategy beyond accumulation. In March, the company established Metaplanet Ventures, pledging 4 billion yen ($25 million) over two to three years to invest in Bitcoin and crypto infrastructure in Japan.  The company is targeting holdings of 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027.

2 دن پہلےانڈسٹری

Blockchain Association urges review of Custodia Banks master account denial

The Blockchain Association has backed Custodia Bank‘s Supreme Court petition challenging the Federal Reserve’s refusal to grant the Wyoming-chartered digital asset bank direct access to its payment system.  According to a Wednesday amicus filing, the Blockchain Association asked the U.S. Supreme Court to review whether regional Federal Reserve Banks can deny master accounts to state-chartered institutions that are legally eligible to request access.  The dispute centers on the authority regional Fed banks have when deciding which institutions can connect directly to central bank payment infrastructure. Custodia has argued that the Monetary Control Act requires the Fed to make its payment services available to eligible nonmember depository institutions, while lower courts have ruled that regional Reserve Banks retain discretion over whether to approve an application.  In its filing, the industry group warned that allowing that discretion to stand could affect state-chartered banks serving lawful industries that federal regulators may view unfavorably.  “No lawful industry should be excluded from essential banking services through regulatory pressure or unchecked administrative discretion,” the association said in an accompanying X thread.  The group added that the case concerns whether “lawful digital asset businesses can compete on equal footing” when seeking access to financial infrastructure.  Blockchain Association says Custodia Bank case could affect

2 دن پہلےانڈسٹری

Securitize posts $21.7M Q2 loss as SECZ falls 21%

Securitize Corp. reported a $21.7 million net loss for the second quarter on Aug. 12, more than tripling from $6.1 million a year earlier, even as assets and transaction activity across its tokenization platform expanded.  SummarySecuritize posted a $21.7 million Q2 net loss as revenue declined 5% year over year.Tokenized AUM averaged a record $4.3 billion, up 16% from the same quarter last year.Aggregate transaction volume reached $5.3 billion in Q2, up 147% from the prior year period.SECZ shares fell 21% after hours following Securitizes first earnings report as a public company.Securitize entered the third quarter with $350 million in cash and no balance sheet debt.  Revenue declined 5% to $14.4 million from $15.3 million, according to the companys release.  The results are Securitizes first since its July 2 New York Stock Exchange debut, but the reported quarter ended June 30 and therefore predates the public listing. The business combination with Cantor Equity Partners II closed July 1. Securitize then put its own NYSE listed common stock onchain on Solana and Avalanche on its first trading day.  You might also like:  Securitize gains SEC adviser status as SECZ falls 10%  Securitize loss widens despite record tokenized AUM  Average tokenized assets under management reached a record $4.3 billion,

2 دن پہلےانڈسٹری

2026: The Crypto Industry’s “Compliance Elimination Tournament” Begins — Who Will Pass, and Who Will

In 2026, the crypto industry entered the largest regulatory “encirclement” in its history.  On July 1, the European Union‘s MiCA transition period officially ended. The world’s first unified crypto regulatory framework fully came into effect. Among the tens of thousands of crypto service providers operating in Europe, only around 280 successfully obtained MiCA authorization.  Less than two months later, on August 14, the U.S. Securities and Exchange Commission (SEC) will hold an open meeting to vote on whether to formally propose a crypto asset regulatory framework known as “Regulation Crypto.”  This is not a coincidence. Hong Kong, Singapore, the United Kingdom, Japan, the United Arab Emirates, and other major global markets have almost simultaneously drawn their regulatory lines. The “Wild West” era of crypto is coming to an end, and the industrys “compliance elimination tournament” has officially begun.  As regulation moves from the “Wild West” to “Wall Street,” the real survival game begins.  For any centralized exchange (CEX), 2026 offers only three paths:  Obtain a license, wait in line for one, or shut down.  There is no longer an option to “wait and see.”  Lets examine who is passing the test, who is struggling, and who has already been eliminated in this regulatory storm.Global Regulatory Landscape: One World

2 دن پہلےگہرا غوطہ

Bank of Korea Breaks 13-Year Streak With Gold ETF Purchase

The Bank of Korea has disclosed a $250 million position in a gold exchange-traded fund (ETF). The stake marks its first gold-linked investment in 13 years.  The move gives South Koreas central bank exposure to gold prices without expanding its physical bullion reserves.  Filing Shows a $250 Million Gold ETF Position  The BOK held 679,765 shares of SPDR Gold Shares at the end of June. The stake was valued at $250.4 million in a filing submitted to the US Securities and Exchange Commission.  Sponsored  Sponsored  That same document lists four holdings worth $3.89 billion in total. Gold accounted for roughly 6.4% of the disclosed portfolio. It reported no such position three months earlier.  Gold ETFs count as securities and are held within South Koreas foreign-exchange reserves. Physical bullion is treated as a separate long-term reserve asset. This means that the purchase leaves the official stockpile at about 104.4 tons, unchanged since 2013.  However, earlier in August, the central bank said it built a framework for domestic gold purchases, its first such step in almost six decades.  Follow us on Xto get the latest news as it happens  Central Bank Gold Demand Hit a Record Second Quarter  Meanwhile, other central banks combined added a net 289 tons in the three months through

2 دن پہلےانڈسٹری
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