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Banks in South Korea doubled crypto transaction fee revenue in Q2

The Korea Herald, Shinban Bank, K bank and NH Nonghyup Bank announced a total revenue of 16.9 billion South Korean won in Q2. The crypto exchanges in South Korea Upbit, Bithumb, Coinone and Korbit  have partnered with the banks for sourcing users’ real-name accounts.

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The Korea Herald, Shinban Bank, K bank and NH Nonghyup Bank announced a total revenue of 16.9 billion South Korean won in Q2. The crypto exchanges in South Korea Upbit, Bithumb, Coinone and Korbit  have partnered with the banks for sourcing users’ real-name accounts.

Based on the data collected the second quarter performance exceeded the first quarter’s approximately 7 billion won mark, more than doubling transactions despite ongoing market fluctuations.

The data shows that K bank’s partnership with Upbit resulted in the biggest share of 12 billion won, over 71% of the total revenue. In the first quarter, the bank made 5.2 billion won through the crypto exchange partnership.

NH Nonghyup’s two-way partnership with Bithumb and Coinone wasn’t as impressive as K bank’s revenue. With Bithumb, the bank reported earnings of approximately 3.1 billion won in the second quarter, while Coinone contributed 1.78 billion won throughout the financial year.The Shinhan Bank–Korbit partnership reported the lowest earnings of almost $0.3 million in the last quarter.

South Korean regulators have warned  crypto exchanges to have voluntarily registered with local authorities by Sept. 24. The warning has been issued to all crypto exchanges that make use of the Korean language, Korean won or that serve the Korean market. The penalty for entities that don’t follow these guideline will face prison time of up to five years or a fine of  50 million won.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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