[Bitcoin Now] Ethereum Plunges After $100 Million Hacking Incident

Ethereum, the second-largest cryptocurrency by market capitalization, plunged sharply following a hacking incident involving over $100 million. According to CoinMarketCap, a digital asset market data site, Ethereum was trading at $3,628 as of 9:45 a.m. on November 4, down 6.64% from 24 hours earlier. The price dropped to as low as $3,560 during the day before rebounding slightly. Compared to this year’s high of $4,953 on August 25, the price has fallen by more than 26%. The sudden drop in Ethereum’s price appears to be due to a hacking attack on the cryptocurrency protocol Balancer, which resulted in the theft of more than $100 million in digital assets. Bloomberg reported that security firms PeckShield and Cyvers detected the incident and issued warnings, estimating the losses to be over $128 million (approximately 190 billion won). Balancer also acknowledged the hack via its social networking service account on X (formerly Twitter), stating, “We are aware of the hack. Our engineering

Crypto

11.04 10:22

[Bitcoin Now] "Korean Won Stablecoins Should Be Taxed Differently from General Virtual Assets"

There has been a call for tax regulations on Korean won stablecoins to be distinguished from those on general virtual assets. The argument is that, since stablecoins can be redeemed one-to-one with legal tender, they should be taxed differently from typical virtual assets. On November 3, the Korea Fintech Industry Association held a National Assembly forum on the "Distribution and Taxation System of Korean Won Stablecoins" at the first seminar room of the National Assembly Members' Office Building in Yeouido, Seoul. The seminar was attended by Democratic Party lawmakers Min Byungdeok and Lee Kangil, as well as Lee Kanghyun, Chairman of the Indonesian Korean Chamber of Commerce and Industry, among others. Accountant Oh Yuntaek identified value stability as one of the key characteristics of stablecoins. He explained that, because they are linked to legal tender and can be redeemed one-to-one, their value is stable. He also emphasized that, since they possess more characteristics that al

Crypto

11.03 16:33

[Bitcoin Now] Third Quarter Rally Drives Exchanges to 'Earnings Surprise'

Coinbase, the largest cryptocurrency exchange in the United States, posted earnings that far exceeded expectations during the cryptocurrency rally in the third quarter. According to CNBC on October 30 (local time), Coinbase reported third-quarter revenue of $1.87 billion (approximately 2.67 trillion won), significantly surpassing the market forecast of $1.8 billion. This figure represents a 55% increase compared to the same period last year, when revenue was $1.205 billion. During the same period, net profit surged to $432.6 million, a 5.7-fold increase from $75.5 million a year earlier. Earnings per share (EPS) also came in at $1.50, well above the expected $1.10. The company attributed its better-than-expected performance to several factors. First, the Trump administration's pro-cryptocurrency policies led to regulatory easing for digital asset companies, which improved investor sentiment. Additionally, the easing of fears following speculation in June about a possible improvement in

Crypto

10.31 10:58

[Gyeongju APEC] Digital Assets Enter the Global Economic Stage... Dunamu Hosts Future Tech Forum

Dunamu, the operator of the virtual asset exchange Upbit, hosted the 'Future Tech Forum: Digital Assets,' an official side event of the 2025 Asia-Pacific Economic Cooperation (APEC) CEO Summit. The Future Tech Forum is an official side event of the APEC CEO Summit, and it is noteworthy that digital assets were included in the APEC Future Tech Forum, which has traditionally focused on real industries. Oh Kyungseok, CEO of Dunamu, delivered a welcome address at the forum held on the morning of October 30 at the Wonhwa Hall of Gyeongju Arts Center in Gyeongju, North Gyeongsang Province. He stated, "Digital assets are no longer an innovation limited to a specific field; they serve as a bridge connecting technology and finance, markets and people, regions and economies," emphasizing, "Today's sessions will explore connections from various perspectives." He continued, "The theme of the digital asset track, 'Connecting the Future of Finance,' reflects our belief that connection is the founda

Crypto

10.30 11:07

[Gyeongju APEC] Dunamu: "Blockchain Revolution Is an Opportunity to Lead Financial Order... Stablecoins Have Great Potential"

Oh Kyung-seok, CEO of Dunamu, emphasized that the blockchain revolution, including stablecoins, is an opportunity for Korea to lead a new financial order. He dismissed concerns about a "Bitcoin bubble" raised by some as nothing more than a rite of passage. On October 29, at the 8th session of the 2025 Asia-Pacific Economic Cooperation (APEC) CEO Summit titled "The Future of Currency and Global Financial Markets," held at the Gyeongju Arts Center in Gyeongbuk, Oh Kyung-seok, CEO of Dunamu, delivered a keynote speech. He stressed, "The blockchain revolution presents Korea and Dunamu with the opportunity to establish a new financial order together with global partners." Regarding the growth potential of stablecoins, Oh stated, "The adoption of blockchain and stablecoins is still in its early stages, and the growth potential is indeed enormous. Exchange-based stablecoins account for an overwhelming share of the market capitalization, which demonstrates that exchanges are playing a central

Crypto

10.29 17:21

Lee Chang-yong: "To Be Honest, I Am Afraid... Those With Incentive to Move Assets Overseas Will Use Stablecoins First" [2025 National Audit]

Lee Chang-yong, Governor of the Bank of Korea, expressed concerns that the introduction of a won-based stablecoin could accelerate the outflow of assets overseas. During a comprehensive audit by the National Assembly’s Strategy and Finance Committee on October 29, Governor Lee stated, “Among the seven issues highlighted in the stablecoin white paper published by the Bank of Korea yesterday, the most significant concern is the already considerable outflow of funds from our country.” He pointed out, “Despite the current account surplus being at a record high, a large amount of money is still being taken abroad by Korean nationals.” He emphasized, “While there are expectations that foreign buyers might purchase Korean goods using a won-based stablecoin, the opposite scenario is more likely.” His main concern is that Korean nationals could use the won-based stablecoin to accelerate the use of dollar-based stablecoins. Governor Lee said, “To be honest, I am afraid. I am very concerned abou

Crypto

10.29 11:50

"What to Do with Idle Coins?"... Virtual Asset Trading Volume Declines as KOSPI Surges [Bitcoin Now]

Domestic virtual asset trading volume continues to decline. This is interpreted as a result of both the price correction of major virtual assets such as Bitcoin and a shift in liquidity to the stock market, as the KOSPI surpasses 4,000 points and the market remains bullish. According to CoinGecko, a virtual asset market analysis site, the combined trading volume of the five major domestic virtual asset exchanges (Upbit, Bithumb, Coinone, Korbit, and Gopax) from October 1 to 27 amounted to 109.26314 billion dollars (approximately 157 trillion won). This represents a 12.63% decrease compared to September this year, when the figure stood at 125.05846 billion dollars (about 179 trillion won). The trading volume at domestic virtual asset exchanges has continued to shrink, falling from 160.23098 billion dollars (about 230 trillion won) in July this year to 136.06213 billion dollars (196 trillion won) in August, and continuing to decline since then. One of the reasons for the decline in tradi

Crypto

10.29 06:47

"How to Evade Assets to the US and Make Illegal Gifts": Stablecoin Abuse Cases, Bank of Korea's Warning [Financial Microscope]

Person A purchased an ultra-high-end residence in Manhattan, New York, worth 10 million dollars (approximately 14 billion won), with the intention of moving assets overseas. Person A installed a personal wallet application on their mobile phone and created a personal wallet. Afterwards, Person A met an unregistered currency exchange broker in person and received 10 million dollars worth of the stablecoin Tether (USDT) into their personal (non-custodial) wallet, handing over slush funds (Korean won in cash) accumulated over several years. To evade tracking by authorities, Person A transferred the USDT to an exchange in an emerging market with weak Know Your Customer (KYC) procedures, and then withdrew it again to another personal wallet. Person A plans to keep the USDT in a personal wallet and, after immigrating to the United States in the future, launder 2 million dollars worth of USDT into legitimate dollars to use for purchasing a home and covering living expenses. Person B illegally

Crypto

10.29 06:20

Bitcoin Bull Cathie Wood Suddenly Revises Outlook: "Losing Its Role, Forecast Lowered" [Bitcoin Now]

[Bitcoin Now] Ethereum Plunges After $100 Million Hacking Incident

[Bitcoin Now] "Korean Won Stablecoins Should Be Taxed Differently from General Virtual Assets"

[Bitcoin Now] Third Quarter Rally Drives Exchanges to 'Earnings Surprise'

[Gyeongju APEC] Digital Assets Enter the Global Economic Stage... Dunamu Hosts Future Tech Forum

[Gyeongju APEC] Dunamu: "Blockchain Revolution Is an Opportunity to Lead Financial Order... Stablecoins Have Great Potential"

Lee Chang-yong: "To Be Honest, I Am Afraid... Those With Incentive to Move Assets Overseas Will Use Stablecoins First" [2025 National Audit]

"What to Do with Idle Coins?"... Virtual Asset Trading Volume Declines as KOSPI Surges [Bitcoin Now]

"How to Evade Assets to the US and Make Illegal Gifts": Stablecoin Abuse Cases, Bank of Korea's Warning [Financial Microscope]

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