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Lee Jung-hoon, the former chair of the South Korean cryptocurrency exchange Bithumb, was found not guilty on Jan. 3 by the 34th Division of the Criminal Agreement of the Seoul Central District Court.Jung-Hoon was on trial under accusations of violating the Act on the Aggravated Punishment Of Specific Economic Crimes
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The former chairman of the South Korean cryptocurrency exchange Bithumb, Lee Jung-hoon, could face a possible maximum sentence of eight years in prison if found guilty on charges related to an alleged fraud worth $70 million.Local prosecutors asked the Seoul District Court for the sentence on Oct. 25, with the
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Crypto exchange FTX is reportedly in talks to buy Bithumb. The legal issues connected to its former chairman will, however, hinder any possible sale.According to reports, Lee Jung-hoon, the de facto owner of the South Korean bitcoin exchange Bithumb, is now facing an 8-year jail sentence.The owner who is also
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Singapore-based Bybit bought almost a third of the 16 billion won of convertible debt T-Scientific issued at the end of last month. T-Scientific (057680) is listed on the South Korean stock exchange. Convertible debt is a fixed-income security that pays interest, but can be converted into equity under certain conditions. Original
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The court drama behind the acquisition of South Korean crypto exchange Bithumb has been going on for several years, but in an unexpected development, a Singapore court has made a ruling against Kim Byung-gun, who has originally accused the owner of Bithumb, Lee Jung-hoon, o defrauding him. According to the South
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Bithumb’s parent company is considering both an outright sale or entering into joint ownership. Original Source
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Bithumb, one of South Korea's largest crypto exchange by trading volume, will stop accepting wallet addresses that haven't been properly registered with the exchange as it enforces the "travel rule," according to an official blog post on Monday.The travel rule, recommended by the intergovernmental Financial Action Task Force, requires exchanges
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Starting on Jan. 27, the South Korean crypto exchange Bithumb will not allow users to withdraw their crypto assets to unverified private wallets.On Jan. 24, the exchange announced that it would be the second of the four major exchanges in the country to ban withdrawals to unverified wallets. Coinone enacted
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South Korean crypto exchange Bithumb is developing an NFT marketplace with “a large company” thought to be LG CNS, a subsidiary of LG Corporation. Bithumb CEO Heo Baek-young confirmed in a Jan. 13 interview that the exchange was currently developing a nonfungible token (NFT) exchange which would help it stay competitive
Read MoreBithumb Global, the international spin-off of the Korean-based cryptocurrency exchange, announced the upcoming launch of Clover, a blockchain platform targeted for decentralized finance and powered by Polkadot (DOT) technology.The company says that Clover will be an open platform for DeFi applications, leveraging cross-chain capabilities and connecting decentralized finance to the
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