Cryptocurrency Analysis and News Portal
ALSO: A crypto markets analyst suggests that the U.S. central bank may not be finished with interest rate hikes, even if it raises the rate on Wednesday as expected. Original Source
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South Korea’s "Kimchi premium" has flipped to a discount again, meaning cryptocurrencies such as Bitcoin are now cheaper to buy on South Korean exchanges.The phenomenon is named after the Korean dish kimchi. The Kimchi premium refers to when the price of Bitcoin (BTC) trades higher on South Korean exchanges than
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A newly-released study published in December 2022 reveals that South Korea’s “kimchi premium,” the divergence in cryptocurrency valuations on Korean exchanges compared to Western trading platforms, is strongly associated with a surge in international remittances to China. Examination of Overseas Remittances to China Uncovers Strong Correlation with South Korea’s ‘Kimchi Premium’ According
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South Korean banks are being investigated for their role in facilitating $6.5 billion in suspicious overseas remittances which have been tied to companies arbitraging cryptocurrency. According to an Aug. 15 report from Asia Times, the Financial Supervisory Service (FSS) ordered an investigation into South Korean banks last month after identifying a
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Summary: South Korean authorities have launched a probe into the Bitcoin ‘Kimchi Premium.’ The investigations cite that the Kimchi Premium was used to make profits that were transferred abroad through illegal remittances. Authorities in South Korea have launched investigations into the famous Bitcoin ‘Kimchi’ premium. According to local reports, the Seoul Central District Prosecutor’s
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In an interview with CryptoX TV's "First Mover" program, Scott Freeman, co-founder and partner of financial services firm JST Capital, suggested the global unrest was hurting bitcoin's price, despite major buys over the past 10 days by Terra's Luna Foundation and MicroStrategy (MSTR), which purchased over $190 million in the
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