Korean Crypto Exchange Upbit Launches IMX Today
According to the official announcement, the South Korean encryption exchange Upbit will launch IMX today, support the KRW market trading pair, and only support the Ethereum network recharge. Deposits and withdrawals can only be made from personal wallet addresses that have completed ownership verification. The expected trading start time is 04:00 on July 28 (UTC)
South Korean Crypto Lending Firm Delio Raises Concerns Over Ability to Provide Normal Services After Asset Seizure by Regulator
South Korean crypto lending company Delio has expressed concerns about its ability to provide normal services to clients after having its assets seized by a local financial regulator. Delio explained that an ongoing legal battle with depositors and a search and seizure of the company's assets on July 18 resulted in the seizure of all assets owned by customers and the company, as well as other cold wallets and ledgers. The company has suspended interest payments for its deposit and vault users as of July 24 and has suspended services that require additional expenses. Delio is one of South Korea's largest crypto lending platforms, holding approximately $1 billion in Bitcoin, $200 million in Ether, and approximately $8.1 billion in altcoins.
South Korean Crypto Finance Company Delio Will Suspend Some Services and Stop Paying Interest on Virtual Assets
South Korean encrypted financial company Delio announced that it will suspend some services and stop paying interest on virtual assets. During the July 18 seizure, all assets owned by the client and the company were confiscated by prosecutors, Delio said.
Xangle and Republic Crypto Partner to Accelerate Web3 Adoption in Korea and Asia
South Korean Web3 data and intelligence platform, Xangle, has formed a strategic partnership with US-based advisory firm, Republic Crypto, to promote the adoption of Web3 technologies among Korean enterprises. Xangle clients will gain access to Republic Crypto's experience in Web3 execution, including blockchain infrastructure setup, digital asset management, and tokenomics design.
South Korean Pop Star Xitsuh Reveals Losing up to $77,000 on Bad Crypto Investments
South Korean pop star and TV personality Seo Chul-goo, also known as Xitsuh, revealed on the E Channel TV talk show "Love of a Lifetime" that he lost between $61,230 and $77,000 on bad cryptocurrency investments.
South Korean Financial Regulators Demand Enhanced Accounting Transparency for Crypto Companies
South Korean financial regulators have released a "plan to improve accounting transparency for cryptocurrencies," requiring crypto companies to disclose information about cryptocurrencies in the notes to financial statements from the next accounting year.
Wemade's WEMIX Joins Mythos Foundation as Subcommittee Member to Advance Web3 Gaming
South Korean blockchain gaming company Wemade's WEMIX foundation has become a Subcommittee member of the Mythos Foundation, a US-based Web3 game studio backed organization. The partnership aims to advance and standardize Web3 gaming within the Mythos ecosystem, which has over 20 governance partners.
South Korean Crypto Exchange Upbit Has Opened Ethereum-Based NFT Deposit, Withdrawal and Trading Functions
July 4 (Cointime) -South Korean encryption exchange Upbit has opened the NFT deposit, withdrawal and trading functions based on Ethereum.
South Korean Crypto Lending Firm Delio Under Investigation for Fraud and Embezzlement
June 30 (Cointime) - South Korean crypto lending firm Delio is being investigated by the country's Financial Services Commission (FSC) for fraud, embezzlement, and breach of trust related to the suspension of users' deposits and withdrawals on June 14. Delio's CEO and management staff have been barred from leaving the country pending an investigation by prosecutors. Delio is one of South Korea's largest crypto lenders, holding an estimated $1 billion in Bitcoin (BTC), $200 million in Ether (ETH), and $8.1 billion in various altcoins. Delio's sister firm, Haru Invest, also suspended withdrawals and deposits on June 13 due to an issue with a "consignment operator."
South Korean Mobile Giant KT to Invest $5.3 Billion in AI Service Research and Development over the Next Five Years
June 23 (Cointime) - South Korean mobile company KT has announced its plan to invest $5.3 billion in AI service research and development over the next five years. The company aims to exceed $764 million in annual sales from AI businesses by 2025. KT's strategy includes AI-driven robots, care, and education, as well as AI contact centers and logistics business, all of which are customer-customized AI services. The company plans to expand internationally, partnering with Singapore's top telecom company, Singtel, to introduce an AI transportation platform, and commercializing AI care services in Vietnam.
