Daily Crypto News

South Korea seizes US$184 mln in crypto towards unpaid taxes — Cryptocurrency assets seized from alleged tax delinquents in South Korea in 2021 and 2022 amounted to nearly 260 billion Korean won (US$184.3 million), according to local media reports.
Bitcoin Pares Drop Sparked by Fed’s Warning of Rate-Hike Pain — Cryptocurrencies pared declines triggered by another large Federal Reserve interest-rate hike, though sentiment remained cautious given the central bank’s warning of economic pain ahead from tightening policy.
Bitmain cuts mining rig prices amid crypto bear market, energy costs — Bitmain announced on Tuesday that it is cutting the price of one of its latest mining rig models, the S19 Pro, to US$19 per terahash (TH), which is 41% less than the price index shown on the mining rig data website Hashrate Index.
Naver and LINE launch NFT platform for K-pop fans — South Korea-based internet giant Naver Corp. launched its non-fungible token (NFT) platform, NOW.Drops, with LINE NEXT on Wednesday. The platform will let K-pop music fans create customized NFTs.
SEC Wants to ‘Remake the Law,’ Rather Than ‘Apply it,’ Says Ripple General Counsel — “There are no allegations of fraud in this case. There are no allegations of misrepresentation. There are no allegations of market manipulation,” Alderoty said during an appearance on CoinDesk TV’s “First Mover.” “It really is a technical issue and we believe it’s an issue that can be resolved as a matter of law by the judge.”
Bitcoin recovers from steep drop after Fed hikes rates by 75 basis points — Bitcoin, the largest cryptocurrency by market capitalization, rose more than 3% on Thursday to recover from a sharp drop to under US$19,000 after the Federal Open Market Committee said it would raise interest rates by 75 basis points, or in line with market expectations, to rein in inflation.
Fed Hikes Rates to Highest Since 2007; Bitcoin Slides Toward $19K — The federal funds rate will rise to a range of 3% to 3.25%, the highest since late 2007. The rate had stayed near zero for more than two years. Traders are currently betting that the federal funds rate will go above 4.25% before central bankers pause the campaign.
Crypto Remains a Priority for UK Under New Leader, Drawing Industry Excitement — Even with all of the change in its leadership, the U.K. government is set to press forward with former Finance Minister Rishi Sunak’s plans to turn the country into an international hub for crypto, Richard Fuller, the country’s new economic secretary to the Treasury, said at the U.K.’s first-ever crypto debate in Westminster last week.
Push to Cut Ethereum Network Fees Opens Funds-Draining Bug in Scaling Tool Arbitrum — The rush to find a way of lowering transaction costs on the Ethereum blockchain led developers behind scaling tool Arbitrum to miss a change in the latest version that would have allowed attackers to steal all funds sent to the network.
Crypto Exchange CoinCorner Eyes Middle East Expansion Via Partnership With Emirates CEO’s Private Office — Isle of Man-based crypto exchange CoinCorner is looking to expand across the Middle East through a partnership with the private office of Sheikh Saeed bin Ahmed Al Maktoum, CEO of the Emirates airline and member of the ruling family of Dubai. Through the partnership with Seed Group, CoinCorner will establish a platform for the buying, selling, sending, receiving and storing of bitcoin (BTC) and offer local businesses services to transact in crypto. “Apart from individuals, a large number of companies are ready to embrace bitcoin and other digital currencies as legal tender for future transactions,” Hisham Al Gurg, CEO of Seed Group, said.

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