ChainCatcher news, according to @ai_9684xtpa's analysis, the MOVE token has shown significant price discrepancies on Korean exchanges. Originally, Upbit and Bithumb planned to launch MOVE simultaneously at 8 PM last night, but the Korean exchange Coinone launched it early at 7:30 PM, with an opening price of 998,500 KRW (approximately 700 USD). As a result, the two major Korean exchanges delayed their launch times, with Upbit starting trading at 09:35 this morning, opening at 2,263 KRW (approximately 1.59 USD), and currently trading at 3,060 KRW (approximately 2.2 USD).Currently, there are noticeable price differences for MOVE across different platforms: Binance quotes 0.94 USD, Uniswap quotes 1.93 USD, and Upbit quotes 2.2 USD, indicating that many institutions and smart money are likely engaging in arbitrage.

ChainCatcher news, according to Bloomberg, online lending institution K Bank has withdrawn its initial public offering (IPO) of over $700 million in Seoul. The company had originally planned to price the offering on Friday and was set to go public on October 30. A successful listing would have made it the largest IPO in South Korea in more than two and a half years, with a valuation of up to 50 trillion won ($3.6 billion) for the bank. The bank plans to resume its IPO early next year.The withdrawal occurred amid concerns about its valuation and its reliance on deposits from cryptocurrency exchanges. K Bank rapidly expanded its customer base by partnering with Upbit, South Korea's largest cryptocurrency exchange, but the contract with the exchange is set to expire in October next year.As of the end of June, deposits from Upbit accounted for 16.8% of K Bank's total deposits. K Bank stated in its IPO prospectus that failing to extend its partnership with key strategic partners could weaken the competitiveness of its platform.

ChainCatcher news, Myung-hoon Cha, the CEO of the South Korean cryptocurrency exchange Coinone, is in negotiations with the medium-sized gaming company Com2uS Holdings to sell shares of the company.As of the end of last year, Myung-hoon Cha held a total of 53.46% of the shares, which includes his stake in the private company The One Group (34.31%) and his personal holdings (19.15%). Com2uS Holdings holds 21.95%, while Com2uS Plus holds 16.47%. Com2uS Plus is a 100% subsidiary of Com2uS Holdings. Through this share acquisition, Com2uS Holdings is expected to become the largest shareholder of Coinone.In addition, Coinone CEO Myung-hoon Cha has informed Com2uS Holdings that he will resign from his position as head of Coinone.

ChainCatcher message: After the KOSPI 200 index futures in South Korea fell by 5%, the Korea Exchange initiated temporary suspension measures, and program trading was paused for 5 minutes.

ChainCatcher news, Matrixport released a report indicating that an analysis of Bitcoin's performance across different time zones shows that in the past 30 days, most of Bitcoin's decline occurred during the Asian trading session, accounting for -13% of the total decline of -15%. This trend may be primarily influenced by the market activity of Korean retail traders during these periods.When analyzing retail activity, South Korea stands out particularly. The trading volume on Korean exchanges is closely related to Bitcoin's annualized funding rate, which is a key indicator for determining the profitability of basis trading (spot vs. futures) and market trends. Korean traders have played a crucial role in driving the surge in the altcoin market. Due to the lack of a futures market for Korean retail investors, their interest in altcoins has led to a significant number of leveraged opportunities.

ChainCatcher news, according to CoinGecko data, mainstream cryptocurrency trading pairs on the South Korean exchange Upbit are experiencing significant premiums, with Bitcoin quoted at $70,148, a 5.4% premium over other platforms; ETH is currently quoted at $3,842, a 4.2% premium over other platforms.

ChainCatcher news, citing Binance's Asia-Pacific director Steve Young Kim, states that Binance is currently in the early discussion stage of selling a partial stake in the South Korean exchange Gopax. During the Binance monthly roundtable meeting, Binance's Asia-Pacific director Steve Young Kim mentioned regarding the VASP issue of GoFX: "We hope to provide more specific information about the sale of this stake in some form within the next month or two."In March of this year, Gopax submitted a notice of business change for virtual assets to the financial regulatory authority, applying to change its registered directors. However, the regulatory authority delayed the approval of this notice, citing judicial risks associated with Binance. In response, Binance plans to reduce its stake in Gopax by selling part of its holdings after converting a loan to be paid to Gopay for resolving VASP renewal issues into part of Gopax's debts.According to the regulations of financial intelligence agencies, the validity period for crypto asset operators is three years from the date of receipt of the initial declaration, and renewal applications must be completed 45 days before the validity period expires. Gopax's initial declaration was received on December 9, 2021.

ChainCatcher news, according to Bloomberg citing CCData, the market share of South Korean exchanges rose to 12.9% in November, while the trading volume in South Korea has surged significantly in recent months. CCData PR manager Jamie Sly stated, "South Korean exchanges have played a significant role in the recent increase in trading activity on centralized exchanges. The South Korean exchange Upbit accounts for the majority of trading volume in South Korea."

ChainCatcher news, according to South Korean media hankyung, the Bank of Korea and the Korea Exchange have signed an agreement to develop a carbon emission trading simulation system based on distributed ledger technology and to test carbon emission trading based on CBDC. The specific details of the experiment are scheduled to be announced at the end of November, with plans to conduct it in the third and fourth quarters of next year.

ChainCatcher news, South Korean exchange Upbit announced that it will list BLUR, supporting deposits only from the Ethereum network. (Deposits via other networks such as BSC are not supported). The scheduled start time for trading support is June 27 at 15:00. (Source link)

ChainCatcher news, according to Blockworks, Kaiko data shows that from the beginning of the year to May 30, the total trading volume of the 20 largest cryptocurrencies by trading volume listed on South Korean exchanges Upbit, Bithumb, Coinone, and Korbit, excluding Bitcoin and Ethereum, was $201.8 billion.Among them, XRP's trading volume was $24.5 billion, second only to Bitcoin's $36.7 billion trading volume, and nearly 3 times that of Ethereum's trading volume. The trading volumes ranked 4th to 10th are DOGE, SXP, ETC, SAND, T, ARB, and AXS. (source link)

ChainCatcher news, according to South Korean media Etoday, reported that after Binance acquired a partial stake in the South Korean exchange Gopax earlier this month, Gopax founder Lee Jun-hyung (phonetic) resigned as CEO. Lee Jun-hyung sold all of his 41.22% stake in Gopax. One of the newly appointed three directors, a Malaysian, has been appointed as the new CEO of Gopax. However, a Gopax official stated, "I think we need to verify whether this resignation is true."In early February, Bloomberg reported that Binance had acquired a majority stake in the South Korean exchange Gopax, with the funds for this acquisition coming from Binance's previously launched $1 billion "Industry Recovery Plan," although specific acquisition terms were not disclosed. Gopax suspended customer withdrawals in November 2022, and its parent company Streami Inc. is one of the top 10 known creditors of Genesis Global, which is also a partner of Gopax in providing yield products. Binance plans to inject capital into Gopax so that Gopax's yield product GoFi can facilitate customer withdrawals and interest payments. Zhao Changpeng expressed hope to further rebuild the cryptocurrency and blockchain industry in South Korea together with Gopax. (Source link)

ChainCatcher news, according to Bloomberg, Binance has acquired a majority stake in the South Korean exchange Gopax. The funds for this acquisition come from Binance's previously launched $1 billion "industry recovery plan," and the specific terms of the acquisition have not been disclosed. Gopax suspended customer withdrawals in November 2022, and its parent company Streami Inc. is one of the top 10 known creditors of Genesis Global, which is also a partner in the yield products offered by Gopax. Binance plans to inject capital into Gopax so that Gopax's yield product GoFi can facilitate customer withdrawals and interest payments. Changpeng Zhao expressed hope to further rebuild the cryptocurrency and blockchain industry in South Korea together with Gopax.Earlier reports indicated that Binance completed its due diligence on the acquisition of the South Korean exchange Gopax in early January and is in the final steps of confirmation procedures. At that time, Binance planned to purchase shares (41.2%) from Gopax's largest shareholder, CEO Lee Jun-hyung. (source link)