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Crypto

Korea crypto trading value slumps 89% as KOSPI jumps 114%, retail money shifts to stocks

Trading value at South Korea’s five major won-based cryptocurrency exchanges fell by as much as 89% over the past year, an analysis showed. Over the same period, the KOSPI rose 114.44% on Yahoo Finance data, reinforcing signs that retail investment money moved from crypto into stocks. Falling fee income has led some exchanges to sell crypto holdings. Research also points to investor fatigue and a shift toward institution-led market participation.

Crypto

Korea fair trade watchdog approves Mirae Asset Consulting\'s Korbit acquisition

South Korea\'s Fair Trade Commission approved Mirae Asset Consulting\'s acquisition of digital asset exchange Korbit, it said on Wednesday. Mirae Asset Consulting will buy 92.06 percent of Korbit for about 133.4 billion won. The commission said Korbit\'s low market share meant the merger was unlikely to restrict competition. It described the deal as the first case of a financial group affiliate acquiring a domestic won-based exchange.

Crypto

Exchanges push to cut fee reliance as digital asset results freeze

South Korean digital asset exchanges are accelerating efforts to diversify revenue as trading values fall and profitability weakens. The five biggest won-market exchanges logged $27.8 billion in trading from May 1 to 17, down from earlier months. Dunamu and Bithumb reported sharp first-quarter declines in revenue and operating profit, with trading fees accounting for nearly all sales. Exchanges are expanding partnerships, overseas ventures and Web3 infrastructure, while facing regulatory uncertainty.