Cryptocurrencies

South Korean crypto firm accidentally sends US$44 billion in bitcoins to users

[SEOUL] South Korean cryptocurrency exchange Bithumb said on Saturday (Feb 7) it had accidentally given away more than US$40 billion worth of bitcoins to customers as promotional rewards, triggering a...

The Chinese authorities reiterated Beijing’s long-standing stance that cryptocurrencies including Bitcoin, Ether and stablecoins have no legal status equivalent to fiat money.

China bars unapproved issuance of renminbi stablecoins abroad

Beijing’s move comes at a time of elevated volatility in crypto markets

Bitcoin's slide signals maturation instead of a structural decline, says Vincent Chok, CEO of fintech firm First Digital.
BT EXPLAINS

Bitcoin plunge: What Michael Saylor’s US$12 billion Strategy loss says about the cryptocurrency

BT unpacks the drivers behind the asset’s downturn and what it means for investors

Founded in 2014, Gemini has largely failed to attract significant market share despite being one of the earlier crypto exchanges.

Winklevosses’ Gemini to cut jobs, scale down in crypto retreat

The twins have donated millions of US dollars to causes supporting US President Donald Trump and the Republican party

Saylor has said the company faces no margin calls and has US$2.25 billion in cash, enough to cover interest and distributions for more than two years.

Michael Saylor’s crypto project pounded after US$12.4 billion loss

Strategy holds over 713,000 Bitcoin, valued at about US$46 billion

Despite a pro-crypto White House and surging institutional adoption, Bitcoin has plummeted about 40% since rocketing to a record in early October.

Bitcoin drops to lowest price since Trump’s election victory

Investor concerns have remained elevated amid economic headwinds, while stocks have struggled to rebound amid low risk appetite and persistent AI bubble fears

Tahnoon is the United Arab Emirates national security adviser, a deputy ruler of the emirate and was handed charge in 2023 of the US$1 trillion Abu Dhabi Investment Authority.

Abu Dhabi royal invested in Trump crypto venture: report

A White House spokesperson says that the US president’s assets are in a trust managed by his children

The tokenisation of gold converts physical gold into digital tokens on a blockchain – a decentralised digital database or ledger.
BT EXPLAINS

What is tokenised gold, and why is it taking off in Asia?

Market watchers note that Singapore’s banks have taken a more measured approach towards tokenised gold offerings for retail investors

Cryptos are having a rough time in what was once hoped to be a golden era of flows and friendly regulation under President Donald Trump.

Bitcoin falls below US$80,000, continuing decline as liquidity worries mount

Cryptos are having a rough time in what was once hoped to be a golden era of flows and friendly regulation under President Donald Trump