Author: Kryptonews

South Korea’s biggest crypto exchange by trading volume, Bithumb, has bounced back, easily regaining more than a quarter of the country’s total digital currency trading volume ahead of its anticipated $1 billion IPO in late 2025. The rise is a welcome return to form for Bithumb, which has had a torrid 12 months. Founded in 2014 under the name Xcoin and rebranded in 2015, Bithumb once ruled the roost in South Korea with over 70% of trading volumes. However, the exchange began to fade after suffering hacks, including one in 2018 that saw it lose about $30 million. Meanwhile, rival Upbit rose…

The US Securities and Exchange Commission’s sole Democratic Commissioner has said the agency is “playing a game of regulatory Jenga” with its approach to the crypto industry and market regulation under the Trump administration. In May 19 remarks at the SEC Speaks event, Commissioner Caroline Crenshaw cautioned against what she described as a dangerous dismantling of “discrete but interrelated rules” on crypto and the wider market.She likened market stability to a “Jenga tower” that the agency’s rules had “carefully developed over the years,” which could topple if some rules were removed.In addition to a lamentable loss of staff, Crenshaw said…

Understanding Cryptocurrency Taxes: A Guide for Investors Investing in cryptocurrency can be exciting, but understanding the tax implications is crucial to avoid legal and financial troubles. Whether you’re trading Bitcoin, Ethereum, or newer altcoins, every transaction can have tax consequences. HowCryptocurrency is Taxed Cryptocurrency is treated as property by most tax authorities, including the IRS in the United States. This means that buying, selling, trading, or even earning crypto through mining or staking can trigger capital gains or losses. Capital Gains: If you sell or trade crypto for a profit (e.g., selling Bitcoin for more than you bought it for),…

Leading legal and financial experts have cautioned political leaders that stablecoin adoption plans pose a danger to the South Korean economy.Per the newspaper Chungnyun Ilbo, experts say that US dollar-based stablecoins could have an impact on exchange rates and fiat currencies.Stablecoin Danger for South Korean Economy?The comments came at a digital assets-themed meeting of the Korea Economic Association at the FKI Tower Conference Center in Yeouido, Seoul, on May 19.The FKI Tower Conference Center in Yeouido, Seoul, South Korea. (Source: FKI TV/YouTube/Screenshot)An expert panel expressed concerns about the possible proliferation of dollar-based stablecoins in South Korea.The panel argued that stablecoin…

The net worth of Top 200 collector, businessman and art patron Leonard Blavatnik has fallen by more than £3.5 billion ($470 billion) in the last year, according to the latest edition of the Sunday Times’s “Rich List.” The annual ranking of the wealthiest people based in the UK showed Blavatnik’s net worth fell to £25.725 billion ($34.4 billion) last year, causing his ranking to fall one spot to #3. The Ukrainian businessman made his money from early investments in aluminum and energy companies as they were being privatized during the dissolution of the Soviet Union. Blavatnik’s wealth also comes from…

Crypto exchange Binance has asked a US federal judge to send all members of a class-action lawsuit alleging it sold securities to arbitration, arguing that the group waived their ability to form a class action under the company’s terms.The exchange said in a May 16 filing to a New York federal court that its terms of service, which it claimed the class group agreed to, has a clause that users agree to arbitrate all claims, along with a clause preventing users from launching class actions against the crypto exchange.“The Court should hold that Plaintiffs are required to arbitrate claims that…

The Unsustainable Truth of DeFi Decentralized finance (DeFi) has been hailed as the future of blockchain, promising transparency, accessibility, and innovation in financial services. However, beneath its disruptive facade, DeFi conceals an alarming environmental cost that threatens its longevity. While proponents emphasize its efficiency and security, the ecological toll of DeFi transactions—energy consumption, e-waste generation, and carbon emissions—cannot be ignored. The very foundations of decentralized finance may be undermining the sustainability of blockchain itself. Energy Consumption: The Hidden Cost of Consensus Mechanisms DeFi relies on underlying blockchain networks, many of which operate on proof-of-work (PoW) consensus mechanisms. Ethereum, the dominant…

Tony Kim May 19, 2025 21:11 Town Star announces a limited-time NFT sale offering significant discounts on exclusive items like the Rover Robot Dog and Supreme Silo, running from May 19 to May 25, 2025. Exclusive NFT Sale Town Star, a popular blockchain-based game by Gala Games, has announced a special NFT sale set to run from May 19 to May 25, 2025. This annual event offers players the chance to acquire exclusive in-game assets at discounted prices, enhancing their gaming experience. Featured Discounts Among the NFTs on offer, the sale features the…

Bitcoin’s network operates through a consensus mechanism known as Proof-of-Work (PoW). Miners dedicate computational power to solve complex mathematical problems, verifying and adding new transactions to the blockchain, bundled together in blocks. As a reward for their work, miners receive newly minted Bitcoin, plus transaction fees paid by users. What is Bitcoin Halving? The Bitcoin halving is a pre-programmed event that occurs approximately every four years, or every 210,000 blocks mined. It reduces the block reward given to miners by 50%. This reduction is hardcoded into Bitcoin’s protocol to control the supply of new Bitcoin entering the market. Unlike fiat…

Key NotesETH is down 4% in 24 hours, currently trading near $2,400.Whale activity indicates profit-taking or strategic exits.Analyst sees potential for a $4,000 target if ETH stays above $2,200. Ethereum ETH $1 845 24h volatility: 2.6% Market cap: $222.72 B Vol. 24h: $14.22 B has taken a breather following last week’s sharp increase that took the price as high as $2,700. As of writing, ETH is trading around $2,400, marking a 4% dip in the last 24 hours. The drop coincides with several large-scale movements, suggesting profit-taking and loss-cutting by whales. According to on-chain data from LookOnChain, a whale just…