Bithumb Crypto Exchange Latest News Updates
October 12, 2023:
Bithumb Owner’s Arrest Requested by South Korean Prosecutors: South Korean prosecutors have requested the arrest of Kang Jong-Hyun, the chairman and owner of cryptocurrency exchange Bithumb, on charges of embezzlement, breach of trust, and fraudulent illegal transactions. Kang and two other executives are also being investigated for tax evasion.
Bithumb Raided in South Korean Price Manipulation Probe: South Korean prosecutors have raided Bithumb’s offices as part of an investigation into price manipulation on the exchange. The prosecutors are looking into transactions related to a specific person or entity moving the price of a coin to make a profit.
Bithumb Launches NFT Marketplace: Bithumb cryptocurrency exchange list has launched an NFT marketplace in partnership with LG CNS. The marketplace will allow users to buy, sell, and trade NFTs.
Bithumb Ordered to Pay Damages to Investors: A South Korean court has ordered Bithumb to pay just over $200,000 in damages to 132 investors who filed a lawsuit against the exchange. The investors alleged that Bithumb had failed to protect their assets from a hack in 2018.
Bithumb Acquires South Korean Crypto Exchange Vident: Bithumb has acquired South Korean cryptocurrency exchange Vident for an undisclosed amount. The acquisition is seen as a move by Bithumb to expand its market share in the South Korean crypto market.
Bithumb Launches Staking Service: Bithumb has launched a staking service that allows users to earn rewards by staking their cryptocurrency assets. The service is currently available for a limited number of cryptocurrencies, but Bithumb plans to expand the range of supported cryptocurrencies in the future.
Bithumb CEO Resigns: Bithumb CEO Lee Jung-hoon has resigned from his position. Lee’s resignation comes at a time when the exchange is facing a number of challenges, including the ongoing investigation into price manipulation and the lawsuit filed by investors.
Bithumb Launches New KYC Requirements: Bithumb has launched new KYC requirements for all users. The new requirements are in line with South Korea’s tightened Anti-Money Laundering regulations.
Bithumb Trading Volume Increases: Bithumb’s trading volume has increased significantly in recent months. The increase is attributed to a number of factors, including the launch of new services, such as staking, and the increased demand for crypto exchange platform in South Korea.
Bithumb Registers as a Digital Asset Service Provider in South Korea: Bithumb has registered as a digital asset service provider with the Financial Services Commission (FSC) of South Korea. The registration is required under new regulations that came into effect in September 2021.
Bithumb Launches New Mobile App: Bithumb has launched a new mobile app that offers a number of new features, including a more user-friendly interface and support for more cryptocurrencies.
Bithumb Partners with Visa: Bithumb has partnered with Visa to launch a new cryptocurrency debit card. The card will allow users to spend their cryptocurrency assets at merchants that accept Visa.
Bithumb CEO Under Investigation for Fraud: The former CEO of Bithumb Holdings, which operates Bithumb, is under investigation for fraud charges related to the acquisition of Bithumb. The former CEO is accused of manipulating the price of Bithumb’s stock in order to profit from the acquisition.
Bithumb Launches New Security Features: Bithumb has launched a number of new security features, including a two-factor authentication (2FA) requirement for all users and a new anti-phishing system.
Bithumb Expands into New Markets: Bithumb is expanding into new markets, including India and Thailand. The exchange is partnering with local companies in these markets to launch its services.
In addition to the above news updates, Bithumb is also working on a number of other initiatives, including:
Developing a new trading platform: Bithumb is developing a new trading platform that will offer a number of new features, such as support for more best crypto exchange USA and margin trading.
Launching a new DeFi platform: Bithumb is planning to launch a new DeFi platform that will allow users to participate in DeFi activities such as lending and borrowing cryptocurrency assets.
Expanding its global reach: Bithumb is planning to expand its global reach by launching its services in new markets and by partnering with other cryptocurrency exchanges.