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Bithumb delays IPO beyond 2028, signaling larger crypto listing slowdown

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South Korea-based cryptocurrency exchange Bithumb has again postponed its planned initial public offering, with insiders signaling a listing would come only after 2028. The company previously eyed a 2025- or 2027-targeted listing, but renewed restructuring and ongoing regulatory hurdles have pushed the timeline further, according to Maeil Business News Korea.

A Bithumb official told Maeil Business News Korea that the firm would focus on preparing for the listing until 2027, while strengthening accounting policies and internal controls following an IPO advisory contract with Samjong KPMG. The company’s chief financial officer, Jeong Sang-gyun, framed the moves as part of a broader readiness program ahead of public listing.

Shareholders also reaffirmed CEO Lee Jae-won for a two-year term at the annual meeting, extending leadership continuity. Under Lee’s tenure, Bithumb has faced regulatory scrutiny, including a six-month suspension and a $24 million fine from South Korean authorities for alleged anti-money-laundering violations.

A broader context for Bithumb’s IPO plans is the evolving Korean listing landscape. Upbit operator Dunamu is reportedly planning an IPO after a share swap with Naver Financial, with September cited as the timetable by local outlets. The prospect of a major local exchange going public could influence investor appetite and domestic crypto adoption.

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In February, Bithumb drew headlines for a technical blunder that credited users with about 2,000 BTC instead of 2,000 won. The incident briefly generated illusory balances in the exchange ledger totaling more than $40 billion, though most of the funds existed only on paper and were subsequently reversed.

Key takeaways

  • Bithumb’s IPO timeline is pushed beyond 2028, with a continued focus on readiness through 2027.
  • CEO Lee Jae-won is kept in place, providing leadership continuity amid restructuring and regulatory scrutiny.
  • Governance enhancements are underway, including a strengthened role for accounting policies and internal controls via Samjong KPMG.
  • South Korea’s regulatory and policy environment remains in flux, with crypto-tax discussions and stablecoin legislation shaping IPO prospects.
  • Past operational missteps underscore the ongoing need for strong risk management in a country with a rapidly evolving crypto market.

Bithumb’s delayed IPO: what it signals about Korea’s crypto IPO landscape

According to Maeil Business News Korea, Bithumb’s updated timeline centers on preparations through 2027, with an IPO no sooner than after 2028. The company’s leadership has emphasized governance upgrades as a prerequisite for listing, aligning with expectations from investors for stronger disclosures and controls. The report also notes the presence of an IPO advisory contract with Samjong KPMG, underscoring a formal governance posture as the firm eyes a future public market debut. Maeil Business News Korea

Beyond internal reforms, Bithumb’s path must contend with a broader domestic IPO scene. Dunamu, the operator of Upbit, is said to be pursuing an IPO after a share swap with Naver Financial, with local press pointing to a September window. If a large exchange-minted listing materializes in Korea, the market could reassess liquidity and the competitive dynamics among domestic platforms. Seoul Economic Daily coverage has circulated the timeline, though other outlets have noted the regulatory and market hurdles that may complicate the schedule.

Regulatory climate in Korea: implications for listings and adoption

The policy environment in South Korea continues to evolve alongside the crypto sector. President Lee Jae-myung, who took office in mid-2025, has backed early proposals on payment stablecoins, signaling a readiness to integrate digital assets into the financial system. At the same time, lawmakers have wrestled with crypto-tax plans that were first floated years ago but have faced repeated delays and, in some accounts, may be scrapped entirely as of March this year. As the government calibrates its stance, the fate of a large public filing by a domestic exchange remains tethered to regulatory clarity and the cost of compliance for incumbents. As of March 2025, estimates put the number of South Koreans with crypto exchange accounts at around 16 million, illustrating the market’s scale even as policy debate continues. Cointelegraph also highlighted the broader policy conversation tied to the sector.

Operational risk and the path to a compliant IPO

Bithumb’s governance upgrades take on heightened significance in light of prior enforcement actions. The exchange faced a six-month suspension and a $24 million fine from South Korean authorities over alleged anti-money-laundering issues, a reminder that any future public listing would demand rigorous compliance and transparent controls. The ongoing emphasis on strengthening internal policies, as described by CFO Jeong Sang-gyun and corroborated by reporting on the IPO advisory arrangement, points to a broader industry-wide shift toward governance-readiness before capital market access. Cointelegraph coverage

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Looking ahead, investors and builders will be watching whether Korea’s exchanges can harmonize rapid user growth with robust risk management and regulatory alignment. The coming quarters will reveal if Bithumb’s patient approach to listing—paired with stronger governance—can unlock a credible path to a public market presence in a country where crypto adoption remains high but policy remains unsettled. Cointelegraph: February BTC-credit incident

Readers should watch how Bithumb reframes its governance blueprint, how Korea’s policy stance crystallizes around crypto taxation and stablecoins, and whether the broader IPO wave among domestically run exchanges gains or loses momentum as regulators weigh the costs and benefits of public listings in the crypto era.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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The “Money Magnet” Experiment Explained

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Artificial intelligence is already reshaping industries such as finance, software, design, education and media. Music is now rapidly joining that list, as AI-assisted tools make it possible to move from concept to release in a fraction of the time and cost required by traditional production models.

A new independent experiment is now testing exactly that. The project centers on Lunayah, a virtual artist created as part of a real-world music test, and its debut single “Money Magnet”, a pop-dance track designed to blend catchy, repeatable music with mindset-driven lyrical themes.

The experiment was initiated by Vincenzo Stefanini, entrepreneur, investor and founder of Web3 Digital, a Dubai-based agency operating across digital, AI and Web3-related sectors. While Stefanini does not come from a traditional music production background, he saw AI-assisted music creation as an opportunity to test a broader idea: whether music can evolve from pure entertainment into a practical tool for repetition, emotional conditioning and affirmation-driven listening.

From Affirmations to Music

The concept behind “Money Magnet” is simple but notable. Traditional affirmations are often spoken, repeated or written as part of personal development practices. This project takes a different route by turning those repetitive positive messages into a melodic, commercial pop-dance format that is easier to replay, remember and internalize.

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Instead of asking listeners to read affirmations daily, the experiment asks a different question: what happens when those same ideas are embedded into a song structure with rhythm, melody and emotional energy?

That is the central thesis behind “Money Magnet,” which explores themes of abundance, financial well-being and positive mental reinforcement without positioning itself as financial advice or a literal promise. The aim is to create music that is enjoyable first, but also intentionally structured to stay in the mind.

AI as Accelerator, Not Replacement

One of the strongest takeaways from the project is not just the song itself, but the production model behind it. What would previously have required a studio, vocalists, producers, engineers and a significantly longer timeline was instead prototyped, refined and prepared for release in just a few days with the support of AI-assisted creative tools.

That does not mean the process was fully automated or idea-free. The original concept, direction, lyrical intent, stylistic choices, branding, launch strategy and final selection decisions remained human-led. AI functioned as an accelerator, helping translate creative direction into a finished musical product far more quickly than in a conventional setup.

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For founders, creators, agencies and independent brands, this may be the more important story. The barrier to producing high-quality commercial music is falling. That opens the door not only to new artists, but to a wider range of experiments, formats and business models.

A New Creative Format

While “Money Magnet” is the first release, the project is being treated as a repeatable framework rather than a one-off track. Future songs may expand beyond financial themes into other areas commonly associated with personal development and emotional focus, including health, self-confidence, love, peace of mind and motivation.

That makes the release relevant beyond the music industry itself. It also points to the growing convergence of AI, branding, audio content, personal development and direct-to-consumer digital products.

In practical terms, the same underlying workflow could be adapted for artists, creators, events, milestone celebrations, personalized songs, branded campaigns and other custom audio experiences. That alone makes the launch of “Money Magnet” more than just another independent release.

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Built in Dubai, Released Worldwide

The project was developed from Dubai, a city increasingly associated with entrepreneurship, speed, experimentation and digital-first business models. In a broader environment marked by global uncertainty and rapid technological change, the release reflects a different response: building, testing and shipping rather than waiting for ideal conditions.

“Money Magnet” is being distributed across more than 25 streaming platforms, including Spotify, Apple Music, YouTube Music, Amazon Music and other major services via its global release infrastructure.

The track and project hub are available at lunayah.com, while the direct release page can be accessed at this link.

Why It Matters

AI-generated content is no longer a niche topic. The real question is not whether it can be used, but how it should be used and what kinds of new formats it can unlock. “Money Magnet” may not answer all of those questions, but it offers a practical and public example of what the next phase of music creation could look like: faster, leaner, more experimental and increasingly accessible to non-traditional creators.

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Whether this evolves into a larger music brand, a new category of personalized songs, or a service model for creators and businesses, the release marks a notable shift. It shows that music creation is no longer limited to those already inside the music industry.

Listen to the track and follow the project at https://lunayah.com/.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Bitcoin drawdown this cycle milder, signaling resilience

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Bitcoin has slid roughly 50% this market cycle, a markedly milder pullback than in prior cycles, according to Fidelity Digital Assets. The firm’s researchers note that post-peak declines have historically ranged from 80% to 90%, but this cycle has seen a substantially smaller drawdown.

Fidelity’s data suggest a pattern of diminishing returns when looking at price performance from the previous all-time high, a sign of a maturing market. “Each cycle has been less dramatic to the upside than the previous,” Fidelity analyst Zack Wainwright said, adding that downside risk has been less pronounced in 2026 as well.

From a price perspective, Bitcoin touched a cycle low just above $60,000 on Feb. 6, representing a drop of about 52% from the Oct. 6 all-time high near $126,000, according to TradingView. It has since traded at roughly a 46% retreat from its peak six months earlier. For context, the prior cycle featured a much deeper decline—about 77%—from the 2021 high near $69,000 to a bear-market low just below $16,000 in November 2022.

Key takeaways

  • Fidelity Digital Assets’ assessment: this cycle’s drawdown (~50%) is substantially smaller than the historical 80–90% range, signaling a maturing market with potentially reduced volatility.
  • Current price action: cycle low around $60k on Feb. 6, with ~52% fall from the all-time high of ~$126k and ~46% below the six-month peak.
  • Historical comparison: the previous bear phase saw a sharper 77% decline to a sub-$16k trough in late 2022, underscoring a notable shift in cycle severity.
  • Halving cadence and bottom timing: Alphractal founder Joao Wedson highlighted a decaying pattern where the top occurred 534 days after the last halving, implying a bottom could fall between 912 and 922 days after halving—pointing to late September or early October 2026, though this remains a cycle-based projection.
  • Technical watchlist: Bitcoin remains below the 50-day and 200-day exponential moving averages, with the 200-week EMA hovering around $68,000 and acting as a historical support level during downturns.

A shallower cycle, a maturing market

Fidelity’s framework suggests that the current cycle’s more gradual drawdown and compressed upside signal a shift in market dynamics. The research implies growing institutional interest and a broader base of participants that can absorb volatility without triggering extreme selloffs. In discussing the implications, Nick Ruck, director of LVRG Research, described the development as a move toward a more stable Bitcoin—one that could pave the way for deeper adoption beyond speculative trading.

“This shift signals that Bitcoin is changing from a speculative asset toward a more stable store of value, potentially paving the way for greater adoption in the future.”

Where the chart stands and what traders are watching

Despite the shallower drawdown, Bitcoin’s price action remains cautious. The asset has been trading in a zone where traditional trend indicators—such as moving averages—still show a wrestle between momentum and consolidation. The 50-day and 200-day exponential moving averages remain as benchmarks to gauge short- and mid-term momentum, while the 200-week EMA near $68,000 has historically provided a floor during extended downturns. This confluence of levels is a focal point for traders assessing whether a new leg higher can begin or if price action will retest prior support.

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Halvings, cycles, and future pacing

Wedson’s observation about the halving cycle adds a nuanced layer to the discussion. He noted that Bitcoin’s peak arrived 534 days after the last halving—a shorter interval than in the previous cycle—highlighting a “decaying pattern” across cycles. If the bottom timing aligns with his projection that bottoms may occur roughly 912 to 922 days after halving, the window would imply a potential low in late September or early October 2026. While such timing draws from historical cycle dynamics, it remains a probabilistic forecast rather than a guarantee, underscoring the uncertainty that still surrounds Bitcoin’s macro path.

That framing reinforces a broader narrative: as cycles compress and volatility bottoms, investors may rely more on structural drivers—institutional participation, macro policy, and on-chain activity—to gauge the sustainability of a new regime for Bitcoin as an asset class.

Looking ahead, market participants will be closely watching whether Bitcoin can reclaim the shorter-term moving averages and whether the observed shallower drawdown persists as macro conditions evolve. The coming months could illuminate whether the market’s maturation translates into steadier pricing, greater institutional involvement, and clearer adoption milestones—or whether fresh shocks reintroduce the volatility that defined earlier cycles.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Paradigm Targets Pro Traders and Market Makers in Latest Prediction Markets Push

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Venture capital firm Paradigm is reportedly developing a prediction markets trading terminal aimed at professional traders and market makers, according to Fortune.

Paradigm partner Arjun Balaji is spearheading the effort, which sources say has been underway since the late 2025.

The venture capital firm has been one of the most active backers of Kalshi, a leading prediction market platform. The firm participated in three successive funding rounds for Kalshi in 2025. 

The prediction market platform recently raised more than $1 billion in a new round, pushing its valuation to $22 billion.

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“Matt Huang, the venture firm’s cofounder and managing partner, is on the startup’s board of directors. Paradigm’s development of a prediction markets trading terminal isn’t competitive with Kalshi’s platform, said a source,” the report read.

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Beyond the terminal, sources suggest that Paradigm has considered establishing an internal market-making desk. A separate source said the firm has also engaged researchers to explore the feasibility of creating prediction market indexes.

Meanwhile, Paradigm has started to collect prediction market data into a public dashboard. 

A Sector Gaining Institutional and Retail Momentum

Paradigm’s infrastructure push arrives at a time of rapid growth. Prediction market transactions surpassed a record high of 207 million in March, according to Dune data

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Monthly notional volume reached roughly $25.7 billion, up from $1.2 billion in early 2025. Meanwhile, major exchanges are also moving into the space. Binance is beta-testing an in-app prediction market feature inside its Wallet app.

Coinbase unveiled its prediction market offering through a partnership with Kalshi in January. Moreover, Crypto.com launched a standalone platform called OG.

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Trump Threatens to Hit Iran Extremely Hard in the Coming Weeks

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Trump Threatens to Hit Iran Extremely Hard in the Coming Weeks

Crude oil rose to over $100 a barrel while Bitcoin fell 2% after a national address by US President Donald Trump on the conflict in Iran, where he vowed to hit Iran “extremely hard” over the next few weeks. 

Speaking at the White House on Wednesday during an address to the nation, Trump said the US military is “very close” to finishing “Operation Epic Fury,” claiming to have wiped out Iran’s nuclear and naval capabilities while also significantly hampering its drones, missiles and weapon factories.

“I can say tonight that we are on track to complete all of America’s military objectives shortly. Very shortly, we are going to hit them extremely hard over the next 2 to 3 weeks.”

Stocks, crude oil, and crypto prices have been impacted by conflict in the Middle East over the last few months. Oil prices eased on Tuesday after Trump said the war would be wrapping up in the next few weeks, though his latest speech has seen it rise again. 

At the time of writing, the price of crude oil has spiked back above $100 per barrel to $103.59. Meanwhile, Bitcoin dipped by around 1% over the course of the speech and has since fallen further to $66,904, down 2% since the start of the speech.

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However, Trump also said discussions are ongoing. Both sides have made key demands for ending the conflict, with the US pushing for Iran to dismantle its nuclear programs, open up commercial shipping channels and stop regional support for proxy groups.

Iran wants a permanent end to the war, compensation for damages and an end to US military presence in the region, among other demands.

“The new group is less radical and much more reasonable. Yet, if during this period of time no deal is made, we have our eyes on key targets.”

Source: The White House

Trump says oil blockade will end soon

Conflict in the Middle East intensified in February after the US and Israel launched strikes against Iran. This ultimately saw Iran respond by leading a blockade of the Strait of Hormuz in a bid to cut oil supply on one of the world’s busiest shipping channels.

Related: Who is Kevin Warsh? Trump’s Fed pick wants ‘regime change’ at central bank

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The president claimed that the stock market will pick back up soon as the conflict begins to wind down, while gas prices will drop as he argued that Iran will remove the blockade “naturally” so that it can start rebuilding the economy.

“And in any event, when this conflict is over, the strait will open up naturally. It’ll just open up naturally. They’re going to want to be able to sell oil because that’s all they have to try and rebuild. It will resume flowing and the gas prices will rapidly come back down. Stock prices will rapidly go back up,” he said.

Magazine: A newbie’s guide to surviving crypto winter