Tag: Report

Upbit Plans Nasdaq IPO After Naver Merger: Report

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Dunamu, the parent company of South Korean crypto exchange Upbit, is reportedly looking to debut in the US after it finalizes its merger with local tech giant Naver. Dunamu wants to launch an initial public offering on the tech-heavy Nasdaq after its merger closes, which is expected to occur later this week, the Seoul Economic Daily reported on Monday.  Local outlet The Chosun Daily reported on Monday that Dunamu and Naver plan to hold separate board meetings on Wednesday to approve the merger. If passed by each board, the CEOs…

Japanese Watchdog to Require Exchanges to Hold Liability Reserves: Report

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The Financial Services Agency in Japan will reportedly require cryptocurrency exchanges to maintain liability reserves as part of measures to guard against hacks or unforeseen events. According to a Monday Nikkei report, Japan’s FSA will revise its requirements for local companies to include methods for quickly compensating users affected by security breaches or other causes. The financial watchdog reportedly cited recent hacks of global exchanges as part of the reason behind the change. The Financial System Council, an advisory body to the FSA, is reportedly set to release a report…

Thailand’s Bitkub Exchange Considers Hong Kong IPO: Report

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Bitkub, Thailand’s biggest cryptocurrency exchange, is considering an initial public offering (IPO) abroad amid a downturn in the local stock market. Bitkub is planning to raise $200 million as part of a potential IPO in Hong Kong, Bloomberg reported on Monday, citing unidentified sources familiar with the matter. Founded in 2018, Bitkub trades about $66 million daily, according to CoinGecko data. The exchange had considered an IPO in Thailand, targeting a public launch in 2025, which has reportedly been stalled because of volatility and uncertainty in the Thai stock market.…

Trump’s DOGE quietly disbands after Musk’s departure: Report

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Key Takeaways Trump’s Department of Government Efficiency (DOGE) has been quietly dismantled before its mandate expired. The unit’s official website remains online, showing updates as recently as October 4. Share this article The Trump administration’s Department of Government Efficiency (DOGE), formerly led by Elon Musk, is no longer active despite being authorized to operate through mid-2026, according to Reuters. Scott Kupor, Director of the Office of Personnel Management (OPM), which manages the federal workforce and its benefits, confirmed that DOGE has been dissolved and other agencies have absorbed its duties.…

US Probes Bitmain ASICs for National Security Risks: Report

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The leading Bitcoin mining application-specific integrated circuit (ASIC) manufacturer, Bitmain, which is based in China, is reportedly under investigation in the US over national security concerns. According to a Friday Bloomberg report, an unspecified US official and six other anonymous people familiar with the matter said that Bitmain’s hardware is at the center of a federal investigation known as “Operation Red Sunset.” The investigation, led by the US Department of Homeland Security, reportedly seeks to determine whether the ASICs could be remotely controlled for spying or to sabotage the US…

SEC Enforcement Actions Dropped 30% under Paul Atkins: Report

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Consulting company Cornerstone Research reported a significant drop in the number of enforcement actions implemented by the current leadership of the US Securities and Exchange Commission, compared to that under the previous administration. In a report released on Wednesday, Cornerstone reported that, under SEC Chair Paul Atkins, the number of enforcement actions against public companies and their subsidiaries decreased by about 30% in fiscal year 2025 compared to those in fiscal year 2024. The company said the data was “consistent with the general pattern for other fiscal years when the…

ADIC Triples Bitcoin ETF Holdings During Q3: Report

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The Abu Dhabi Investment Council (ADIC) nearly tripled its exposure to Bitcoin during the third quarter through BlackRock’s spot Bitcoin fund, according to a recent report. Several market participants saw it as a signal that institutional interest in crypto is still gaining momentum in the United Arab Emirates. ADIC, an investment arm of Mubala Investment Company, told Bloomberg on Wednesday it sees Bitcoin (BTC) as the digital equivalent of gold. ADIC’s IBIT increase came during a volatile period for Bitcoin. The quarter ended just days before BTC surged to an…

Bybit publishes report with Block Scholes showing bearish crypto positioning despite US shutdown resolution

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Key Takeaways Bybit and Block Scholes highlight weak sentiment across derivatives as Bitcoin closes below the $100K level. US equities erased shutdown gains by Friday, contributing to renewed pressure on crypto markets. Share this article Bybit released a new Crypto Derivatives Analytics Report in collaboration with Block Scholes this week, showing that bearish positioning remains dominant across crypto markets even after the end of the longest US government shutdown in history. Equity markets initially surged on Wednesday following President Trump’s signing of legislation to reopen the government. The Dow hit…

Musk disputes report on xAI raising $15B

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Key Takeaways Elon Musk denied recent rumors about xAI, his AI startup, securing $15 billion in new funding. xAI already completed a funding round in 2024 to boost AI development. Share this article Elon Musk on Thursday denied a report about xAI, his AI startup, raising new capital, calling it “false.” The firm was said to have secured $15 billion in funding, bringing its total valuation to approximately $200 billion. xAI completed a funding round in 2024 as part of efforts to enhance its AI development capabilities. The startup has…

Bybit in talks to acquire Korea’s fourth-largest crypto exchange: Report

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Key Takeaways Bybit is exploring the acquisition of Korbit, one of South Korea’s major crypto exchanges. The move aims to help Bybit expand its presence in the competitive Asian crypto market. Share this article Bybit is considering acquiring Korbit, South Korea’s fourth-largest crypto exchange, as the international platform seeks to expand its presence in the key Asian market, Maeil Business Newspaper reported on Monday. The talks reportedly began after the Financial Intelligence Unit approved Binance’s replacement of GOPAX executives, effectively allowing foreign exchanges to own local platforms. However, Korbit refuted…