Author: JUAN MENDE

South Korea’s Financial Supervisory Service has escalated its inspection of Bithumb into a comprehensive probe following a $43 billion Bitcoin distribution error on February 6. The incident exposed critical flaws in the exchange’s internal controls, allowing the disbursement of 620,000 BTC despite holding only around 46,000 BTC. Bithumb recovered 99.7% of the misdistributed assets and plans to compensate affected users at 110%...

Bitcoin has powered back to the $70,000 level, marking a dramatic rebound that has lifted sentiment across the cryptocurrency market. After briefly dipping below $60,000 earlier in the week, Bitcoin’s resurgence has been swift and decisive. The benchmark cryptocurrency surged nearly 15% in just two days, fueled by strong inflows into spot Bitcoin exchange-traded funds (ETFs) and renewed institutional demand. Traders now view $70,000 as a...

Bitcoin dropped to $60,000 in a flash crash on Thursday night, marking its lowest level since September 2024. The plunge triggered over $2 billion in liquidations across the crypto market. Analysts attribute the selloff to repeated failures at key support levels and a risk-off sentiment in global markets. In a stunning turn of events, Bitcoin suffered a severe flash crash late Thursday, plummeting to $60,000 before...