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Crypto

Bitcoin may have hit bottom; Galaxy Digital says it sees signals the low has passed

An analysis said bitcoin is likely to have already passed its low. Alex Thorn, head of research at crypto investment firm Galaxy Digital, cited bitcoin\'s recovery of its 50-week moving average and its ability to hold near $80,000 as evidence. He also pointed to muted crowd psychology and a shift in investor composition based on 13F filings, with hedge funds declining and sovereign wealth funds and asset managers increasing participation.

Crypto

Bitcoin holds up despite $6.3 billion Binance hack; why no 2018-style panic

A $6.3 billion hack at Binance did not trigger a 2018-style plunge in bitcoin, which fell about 4 percent the next day, according to Decrypt. Research firms Chainalysis and TRM Labs estimated losses at about $6.4 billion. Analysts pointed to the larger crypto market and institutional inflows via spot bitcoin ETFs, as well as Binance steps to buy tokens and freeze funds. Risks remain from potential sales of stolen assets and investor sentiment.

Finance

Toss sets up online lending unit but conflict of interest debate persists

Viva Republica, operator of Toss, has set up a subsidiary to enter the online investment-linked finance business and is preparing to apply for registration with the Financial Services Commission. The online lending industry warns that if a large loan comparison platform also supplies products, conflicts of interest and fair competition issues may arise. The issue was raised during parliamentary audits. Toss says separating the business into a separate entity and applying the same standards will reduce conflicts.