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Bitget executives interpret IPO Prime: Pre-IPO opportunities shift from capital privileges to shared access for all

Today, Bitget, in collaboration with media outlet Rhythm, held an online live broadcast themed "Dialogue with Bitget Executives: A Comprehensive Breakdown of the SpaceX Ticket, from Capital Privilege to Universal Sharing," providing a systematic interpretation of the product mechanisms of IPO Prime and preSPAX.Ken, the product head of Bitget IPO Prime, stated that IPO Prime is not the traditional "new coin listing," but rather utilizes digital tokens issued by the regulated issuer Republic to transform the high-threshold, low-liquidity non-standard assets of the primary market into priceable, tradable, and exit-able digital products.Ken pointed out that Pre-IPO opportunities have long been scarce, not only because the targets are of high quality but also due to the inherent high thresholds, strong circles, and low liquidity issues in the primary market. The launch of IPO Prime by Bitget aims to provide users with the opportunity to access potential economic benefits before the listing of unicorn companies through clearer product design and trading mechanisms within a compliant framework.The first phase of the preSPAX launched is an important attempt in this direction, focusing on providing users with a more flexible and tradable participation path.He further stated that from crypto trading to UEX, and now extending to the primary market, Bitget has been continuously pushing the boundaries of trading. In the future, the platform hopes to do more than just list more assets; it aims to further bridge the previously fragmented opportunity structures between different markets, allowing users to access earlier, higher quality, and more diverse global asset opportunities within the same system.

The South Korean exchange Coinone has been partially suspended for 3 months and fined approximately 3.56 million USD for violating anti-money laundering obligations

According to South Korean media Edaily, the Financial Intelligence Unit (FIU) of South Korea has determined that the cryptocurrency exchange Coinone violated obligations related to the Specific Financial Information Act after completing an on-site inspection. It decided to impose a partial business suspension for 3 months and a fine of approximately $3.56 million (5.2 billion won), with the suspension period from April 29 to July 28. During the suspension, new customers are restricted from external transfers of virtual assets (deposits and withdrawals), while existing customers can continue trading normally. In addition, the FIU issued a "warning reprimand" to Coinone's CEO, Cha Myung-hoon.The FIU stated that Coinone assisted 16 unregistered overseas virtual asset businesses in completing 10,113 asset transfer transactions in violation of regulations and failed to cooperate after regulatory authorities repeatedly requested to stop related transactions; there were approximately 40,000 violations in customer identity verification, including accepting documents that could not be verified for authenticity and reviewing customer address information that was incomplete; there were about 30,000 violations of trading restriction obligations, involving allowing transactions for users whose identity verification had not yet been completed. Coinone stated that it takes this sanction seriously and is advancing rectification, and whether to file an administrative lawsuit will be decided after careful consideration by the board of directors.
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