South Korea’s DAXA Cracks Down on Crypto API Abuse

Crypto  South Koreas DAXA Cracks Down on Crypto API AbuseDAXA mandates Upbit, Bithumb, Coinone, Korbit, and Gopax to invalidate suspicious shared API keys.Automated trading accounts for 30% of Korean crypto volume, making API governance a systemic issue.Exchanges must now monitor, warn, re-verify, and force-expire API keys based on risk level detected.  South Korea‘s Digital Asset Exchange Alliance (DAXA) has established mandatory compliance standards requiring the country’s major cryptocurrency exchanges to detect and invalidate API keys suspected of being improperly shared or lent between users.  The policy, announced May 28, targets a specific exploitation method that has been used to facilitate price manipulation and unfair trading practices across Korean crypto markets. DAXA member exchanges, including Upbit, Bithumb, Coinone, Korbit, and Gopax, are all subject to the new standards.  Why This Matters  API keys are access credentials that allow users and external programmes to interact with exchange accounts, placing orders, checking balances, and executing withdrawals without manual login. When lent or shared with third parties, they become a tool for coordinated trading activity that can manipulate prices while obscuring who is actually behind the trades.  The Financial Supervisory Service of Korea said that automated trading currently accounts for approximately 30% of cryptocurrency trading volume in the country, making

05-29

Sumitomo Mitsui Trust Partners With Hashport to Turn Card Points into JPYC Stablecoins

Hashport will serve as the platform to complete these exchanges, with every 2,500 reward points from Diners Club cards and every 4,000 points from the Trust card exchangeable for 1,000 JPYC when the service starts next Monday.  In addition, to celebrate the launch, the service is establishing a cashback program from June 1 to November 30 that will return 500 points for every 1,000 points exchanged. The JPYC received can be managed in 4 different chains, including Ethereum, Avalanche, Polygon, and Kaia, and can be used freely to pay for products and services.  Nobuaki Yamaguchi, President and Representative Director, Sumitomo Mitsui Trust Club, stated that they were delighted to combine , which are attracting global attention as a safe and reliable next-generation payment method, with credit card points.  He also explained that their reward points had no expiration date.  HashPorts CEO Yoshihiro Yoshida remarked on the relevance of this kind of program as a catalyst to increase adoption of stablecoins in Japan. “Points represent a massive fund pool with over 2.8 trillion yen newly issued annually, and have the potential to be a catalyst for the social implementation of ,” he stressed.  Finally, Noritaka Okabe, Representative Director at JPYC, stressed this move was “an important

05-29

SK Hynix Samsung trillion market: $1T leap and forced selling

Tech  SK Hynix Samsung trillion market: $1T leap and forced selling  South Korea‘s stock market has crossed a rare line, and the SK Hynix Samsung trillion market story is bigger than a simple headline milestone. SK Hynix has surpassed $1 trillion in market capitalization, joining Samsung Electronics in the trillion-dollar club as surging AI-linked memory demand reshapes the country’s equity map.  That leap makes South Korea the first country outside the United States with multiple trillion-dollar companies. At the same time, it has created an unusual side effect: even as investors chase the rally, many large funds are being forced to sell.  The contradiction is what makes this move so striking. The same run-up that pushed SK Hynix stock and Samsung Electronics stock to new highs is now pressuring fund managers, concentrating the KOSPI more heavily in a handful of names, and pushing money into indirect bets such as SK Square and Samsung Life Insurance.  SK Hynix joins Samsung in the trillion-dollar club  SK Hynix crossed the $1 trillion market capitalization mark this week, a landmark that puts it alongside Samsung Electronics in one of global markets most exclusive valuation tiers.  That matters beyond company bragging rights. With SK Hynix and Samsung Electronics both there, South Korea

05-29

CFTC Sues Rhode Island as State Rules Threaten Prediction Markets

Tech  CFTC Sues Rhode Island as State Rules Threaten Prediction Markets  The Commodity Futures Trading Commission (CFTC) announced on May 28 that it moved to intervene in federal court litigation involving Rhode Island and CFTC-registered . The agency seeks to block the state from applying gambling laws to federally regulated event-contract platforms, extending a broader jurisdiction fight tied to and federal derivatives oversight.  According to the filing, Rhode Island pursued civil penalties after a designated contract market filed a complaint against the state over threatened enforcement action. The regulator argued that event contracts fall under the Commodity Exchange Act and remain within federal oversight. The case adds Rhode Island to a growing list of states challenging the agencys authority, including Arizona, Connecticut, Illinois, Minnesota, and New York.  CFTC Chairman Michael S. Selig stated:  “CFTC-registered exchanges have faced an onslaught of lawsuits seeking to limit Americans‘ access to event contracts and undermine the CFTC’s sole regulatory jurisdiction over .”  Prediction Market Oversight Expands Alongside Regulation  Federal regulators continue to frame as commodity derivatives rather than gambling products. The distinction has gained weight as event contracts tied to politics, economics, and sports draw more trading activity and digital-asset interest.  President Donald Trump recently backed federal oversight. In a Truth Social

05-29

SpaceX IPO valuation resets to $1.8 trillion floor

Tech  SpaceX IPO valuation resets to $1.8 trillion floor  SpaceX IPO valuation is looking a little different again — still enormous, but no longer anchored above the $2 trillion mark floated earlier this spring. Ahead of what could become one of the biggest public offerings ever attempted, SpaceX has reset its minimum debut valuation to $1.8 trillion while still targeting a capital raise of up to $75 billion.  That shift matters because it suggests the company is trying to balance ambition with market reality. Even with the lower floor, the deal remains huge by any standard, and the coming days will show whether institutional investors are ready to back SpaceX at a price that would place it among the worlds most valuable companies.  The calendar is already taking shape. Investor presentations are set to begin June 4, final share pricing is targeted for June 11, and trading is planned on both Nasdaq and Nasdaq Texas under the SPCX ticker.  SpaceX IPO valuation resets to a $1.8 trillion floor  The revised SpaceX IPO valuation marks a pullback from April, when the company had been targeting a public debut above $2 trillion.  Now, the floor sits at $1.8 trillion. That is still a staggering number, but the reset points

05-29

ZCash sheds 20% in 3 days - Should swing traders still remain bullish?

Tech  ZCash sheds 20% in 3 days – Should swing traders still remain bullish?  Another day, another crypto market price drop, and another $900+ million in liquidations in the derivatives market. Unlike the previous weekends mass liquidations, ZCash [ZEC] bulls were unable to shrug this hit off.  Since the 25th of May, the privacy altcoin has lost just over 20%. AMBCrypto had reported earlier this week that ZEC had accomplished a bullish breakout from a local range.  Since then, the market-wide selling pressure has forced ZEC back into the range.  Bitcoin [BTC] was also down nearly 5% since Monday, helping explain the ZEC pullback. Despite the pace of ZEC‘s losses, there’s reason to believe that the recent ZCash drop was just that—a pullback.  The ZCash buying opportunity  The recent AMBCrypto report had taken a bullish stance on the privacy token and noted that $486 was the invalidation level for this bias. This idea still held. The recent losses have pulled ZEC to a key Fibonacci retracement level at $530.  Source: ZEC/USDT on TradingView  The closer ZCash retreated to the $486 swing low, the more bulls were at risk from the bears. The A/D indicator signaled that sellers have been in control over the past week.  Meanwhile, the MFI on this

05-29

TRX Price Prediction: Bulls Eye $0.47 Breakout as Smart Money Accumulates

The Immediate Setup  TRON grinds sideways at $0.36 after a 3.5% pullback, but the underlying structure screams accumulation phase. The MACD histogram sits at dead zero while RSI hovers in neutral territory at 57—classic consolidation before the next leg. What‘s telling is how TRX holds firmly above its 200 SMA at $0.30, a level that’s been rock-solid support for months. This kind of sideways chop often precedes explosive moves, and the derivatives data is painting a picture of smart money quietly positioning.  Trading volume remains healthy at $59.4 million, enough liquidity to support a meaningful breakout without slippage concerns. The 24-hour range between $0.36-$0.37 represents tight compression that typically resolves with violence in either direction.  Key Levels Exposed  The technical setup is cleaner than most altcoins right now. TRX sits perfectly centered in its Bollinger Bands with a 0.57 position—not oversold, not overbought, just coiled. The immediate resistance cluster around $0.37-$0.38 represents the battleground where bulls need to prove themselves. Break above $0.38 with conviction and were likely heading straight for the $0.47 target zone.  Support stacks beautifully with the 20 SMA at $0.36 coinciding with the current price, backed by the 50 SMA at $0.34. This creates a 6% cushion before any real damage

05-29

Top 3 Meme Coins to Watch in June 2026

Tech  Top 3 Meme Coins to Watch in June 2026  Meme coins, Dogecoin (DOGE), 币安人生 (BinanceLife), and BUILDon (B) enter June 2026 at key technical inflection points. Each chart compresses inside a defined structure that suggests a near-term directional move.  The three tokens occupy different positions in the same cycle. DOGE bottoms after a long downtrend, BinanceLife reaccumulates near recent highs, and BUILDon corrects after a vertical impulse to $0.77. All three trade on levels worth tracking through June.  Dogecoin (DOGE) Tests a Multi-Month Descending Trendline  Dogecoin (DOGE) trades at $0.099, down 5.97% over the past seven days according to CoinGecko data. The weekly chart shows DOGE has printed lower highs and lower lows since the December 2024 peak above $0.48. The price has now reached long-term horizontal support at $0.082, the same area that held in August 2024 before the explosive rally to last cycles high (blue circle).  After hitting that level in February, DOGE has spent months building a base below a descending resistance trendline. A weekly close above the trendline would open the 0.786 Fibonacci retracement at $0.147 as the first target. The 0.618 level at $0.22 would follow as the extended objective. Weekly volume continues to contract, a pattern often tied to

05-29

Solana price must hold $80 support to fuel next leg higher: analyst

While the token remains well below the 0.236 Fibonacci retracement level near $111 and the weekly Supertrend resistance around $121, the $79-$80 support area has continued to attract buyers during repeated selloffs.  According to analysts at More Crypto Online, Solana could decline toward $62 if it fails to hold the key $72–$78 support zone. Conversely, a rebound above the May 12 high near $98 could pave the way for a move toward the $110 level.  Institutional sentiment toward Solana has remained mixed. Reports that Goldman Sachs liquidated its Solana ETF exposure earlier this year removed a notable source of institutional demand, while several asset managers continue pursuing crypto-related investment products tied to major layer-1 networks.  Traders have increasingly focused on whether fresh institutional participation emerges if market conditions stabilize during the second half of the year.  What technical risks could invalidate the bullish thesis?  The daily chart presents a more cautious picture. Solana price recently formed a bearish double-top pattern after failing twice near the $98 resistance area, first in March and again in May. The structure developed as momentum weakened across the recovery rally and sellers repeatedly defended the same overhead resistance zone.  Solana price has formed a double top pattern on the daily chart

05-29

Injective Price Prediction: INJ Breaks Out Toward $6.50

Open interest surged 32.47% to $151.67M while volume climbed 11.51% to $336.48M. OI rising faster than volume points to fresh positions being built rather than short-term speculation driving the move. Shorts absorbed $441.74K in liquidations over 24 hours against $302.74K for longs, bears are on the wrong side of this move.  The retail long/short ratio sits at 0.8505, meaning more retail accounts are short. Top traders on Binance run a 1.6802 long/short ratio by accounts but only 0.8676 by positions, suggesting professionals are cautious about sizing despite being directionally long. That gap between account ratio and position ratio is worth watching as price approaches the $6.50 resistance zone.  INJ Price Prediction for May 30Upside: Holding above the 200 EMA at $5.705 on any pullback keeps the breakout valid, with $6.50 as the next target and $8.00 as the broader objective if momentum sustains.Downside: Losing $5.705 on a daily close pulls INJ back into the handle range, with the 20 EMA at $5.106 as the next demand level.

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