SBI VC Trade, a crypto-focused subsidiary of Japan’s financial giant SBI Holdings, is set to inherit the accounts and assets of beleaguered crypto exchange DMM Bitcoin. The transfer will take place on March 8, 2025, marking the culmination of DMM Bitcoin’s liquidation process after a devastating $305 million hack in May 2024. Liquidation and Transfer Process In a December 25 notice , SBI VC indicated that customer accounts would be ready by the transfer date, and they would not have to register afresh but would instead be transitioned automatically by the company. Both fiat and cryptocurrency held by former DMM users will be transferred to SBI, with the company inheriting reports of all transactions conducted on the fallen exchange. The Tokyo-based firm initially offered 24 virtual assets for trade on its platform, but its acquisition of DMM Bitcoin will add an extra 14 cryptocurrencies to its books, including Tron (TRX), The Sandbox (SAND), Algorand (ALGO), and Maker (MKR). Additionally, as part of the deal, SBI will take over all leveraged trading pairs previously offered by DMM except those it already provides. The company also clarified that it would not transfer any open positions in leveraged trading. Per the notice, staking stocks will be automatically triggered, with customers that held Ethereum (ETH), Avalanche (AVAX), Oasys (OAS), Flare (FLR), and Hedera (HBAR) on DMM eligible for staking on SBI. They are expected to receive their first staking reward in April 2025 if they continue holding the assets. Hacking Fallout DMM Bitcoin announced its decision to stop operations after months of recovery efforts from a multi-million dollar attack at the end of May failed. The platform lost more than 4,500 BTC, valued at around $305 million, in what is Japan’s second-largest crypto breach after another exchange, Coincheck, lost $523 million worth of NEM tokens in a 2018 incident. The DMM hack is suspected to have been carried out by threat actors linked to the Democratic People’s Republic of Korea (DPRK), known as TradeTraitor. In July, investigators revealed that over $35 million stolen from the exchange had been laundered via the infamous Cambodian online marketplace Huione Guarantee. At the time, pseudonymous on-chain detective ZachXBT likened the laundering techniques to those used by another DPRK-linked outfit, the notorious Lazarus Group. Soon after it was exploited, DMM immediately pledged to make affected customers whole. However, even after borrowing 50 million yen to reimburse users, the damage to its operations proved too great, leading to the decision to transfer all assets to SBI VC Trade. The firm confirmed the acquisition in a December 2 announcement, insisting that it would work to ensure a smooth transition for clients. The post SBI VC Trade Completes Acquisition of Hacked Crypto Exchange DMM Bitcoin Assets appeared first on CryptoPotato .
KULR Technology Group, Inc., an NYSE-listed company, has taken a shift in its treasury management by investing $21 million in Bitcoin by buying 217.18 BTC at an average price of $96,556.53. The purchase is the start of a strategy to put up to 90% of the company’s surplus cash into cryptocurrency, as pioneered by industry leaders like MicroStrategy, and also it represents a larger corporate trend toward embracing digital assets. KULR’s Bitcoin treasury plan According to an announcement on Thursday, the coins were purchased at an average price of $96,556.53 per BTC. This is only the beginning of many more purchases since KULR plans to invest up to 90% of its available cash into Bitcoin. KULR has selected Coinbase Prime to provide custody solutions and self-custodial wallet services for its crypto assets. Following the announcement of the Bitcoin strategic reserve, the KULR stock value increased by 40%. KULR Technology Group is led by its CEO, Michael Mo, who discussed in an interview that he took inspiration from the way MicroStrategy approaches Bitcoin. Mo said , “ He calls BTC digital energy, which really resonated with our mission because we are an energy management company for batteries and space applications are our core.” The link between KULR’s core business and Bitcoin’s fundamental technology is a strategic alignment in their investment strategy. To confirm the support of shareholders for the initiative, KULR undertook a survey to assess the endorsement of this novel financial approach. The feedback was predominantly favorable. Cryptocurrency as corporate cash Mo continued, “We received an overwhelming ‘Yes.’ Here we are buying our first block of BTC and entering into the future of money.” Additionally, he expressed his strong belief in Bitcoin, asserting, “We believe that BTC is the future of money.” KULR now adds to the growing list of companies embracing BTC as part of there treasury reserve. On December 23, a Canada-based company, Matador Technologies, announced it will top up its balance sheet with $4.5 million in Bitcoin, as part of a long-term strategy for capital preservation. Quantum BioPharma, a biopharmaceutical company, also joined the trend by investing $1 million in Bitcoin and other cryptocurrencies on December 20. In Japan, Metaplanet recently bought its largest Bitcoin to date, acquiring nearly 620 BTC. The phenomenon of corporate acquisition of Bitcoin was first brought into the limelight by MicroStrategy, which initiated its investments in Bitcoin back in 2020. Currently holding over 444,000 BTC, MicroStrategy is looking to increase its cryptocurrency holdings, aiming to buy more Bitcoins worth $42 billion more in the near future, pending the approval of shareholders. KULR’s Chief Executive Officer expects a future in which the integration of high-tech technologies creates a new corporate structure. He outlined this vision: “ We envision that the future of a dynamic corporation is based on three pillars: super intelligence through AI, an automated workforce through robotics, and the future of money through BTC, he added. “I believe the whole industry is still at the very early stage of figuring out how to tie them together,” suggesting that KULR’s Bitcoin strategy is part of a broader, long-term vision for corporate evolution. Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap
South Korea has seen a significant surge in cryptocurrency adoption, with the number of users jumping by 610,000 in November to reach 15.59 million. Trump Victory Sparks Renewed Interest in Crypto The number of cryptocurrency users in South Korea jumped by 610,000 in November, reaching 15.59 million by month’s end, according to data from the
StakeStone, an omnichain liquidity protocol, launched an incentivized Berachain vault built with Royco on Dec 25, and over $130 million has poured in since. The vault is one of two incentivized pre-deposit vaults launched as a part of Berachain’s “69 hours of Beramas” initiative. Depositors are set to earn rewards such as airdrops and staking incentives from StakeStone and Berachain, plus Berachain ecosystem project rewards from Boyco, which is Royco’s Berachain implementation, KodiakFi and Dolomite . In addition to the StakeStone vault, Beramas also includes a vault through Lombard and its Bitcoin-specific vault . The StakeStone vault has attracted more than double the deposits of Lombard’s, which holds $62 million. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
Dogecoin (DOGE) faces a challenging outlook as technical indicators suggest a potential decline, attracting the attention of traders across the crypto market. The current market dynamics, primarily influenced by bearish
Shiba Inu experiences significant price drops due to market conditions. Experts remain optimistic about SHIB's potential for recovery and growth. Continue Reading: Shiba Inu Maintains Optimism Despite Market Setbacks The post Shiba Inu Maintains Optimism Despite Market Setbacks appeared first on COINTURK NEWS .
Coinbase International reported a dramatic increase in trading volume driven by the popularity of perpetual contract offerings. The exchange has announced the top five perpetual contract pairs by average daily trading volume (ADV) for 2024 (as of December 13, 2024): SUI-PERP, NEAR-PERP, 1000PEPE-PERP, 1000SATS-PERP, and WIF-PERP. Coinbase International’s total trading volume reached $119 billion last week, averaging nearly $20 billion per day. This represents a significant 124% increase in total weekly volume and 164% increase in average daily volume compared to the previous week. The growth is even more striking when compared to the $2.5 billion daily average in November, reflecting significant momentum in trading activity. The exchange has seen its average daily volume rise to nearly $10 billion so far in December. Related News: Are We in a Bull Market in Bitcoin, or Is It All a Bubble? Analysis Company Founder Shares Several strategic initiatives undertaken by Coinbase International in recent months have contributed to this remarkable growth. These include: European Expansion: Coinbase has entered a significant new market by proactively aligning its operations with the European Union’s Markets for Crypto-Assets (MiCA) regulation. Australian Expansion: Coinbase has increased its presence in Australia, most notably through its sponsorship of the Melbourne Marathon. Increased Leverage: The platform has doubled its maximum leverage offering from 10x to 20x, attracting investors looking for higher potential returns. Spot Market Launch: The launch of spot markets in late 2023 has diversified the exchange’s offerings and allowed it to appeal to a wider range of investors. *This is not investment advice. Continue Reading: Coinbase Reveals 5 Altcoins with the Highest Trading Volume in Futures
Musk Fuks Santa could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Musk Fuks Santa (MUSKFSAN), a new Solana memecoin that was launched today, is set to explode over 19,000% in price in the coming days. This is because MUSKFSAN is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Musk Fuks Santa can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days. Early investors in SHIB and DOGE made astronomical returns, and Musk Fuks Santa could become the next viral memecoin. Musk Fuks Santa launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains. How to Buy To buy Musk Fuks Santa on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Musk Fuks Santa by entering its contract address – G8EuXY9hVUyUGG7wUDqTAsh4cHeoLraJBL8dbvewPB3G – in the receiving field. If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others. In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price. If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner. The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum. This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like MUSKFSAN. Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Growing trends in Solana’s ecosystem signal robust performance as Jito’s software drives more than 93% of validators, reshaping transaction dynamics. As per recent findings, Jito’s validators experienced a remarkable monthly
More than 93% of Solana's validators use Jito's software for MEV, according to Jito Labs.