Core Insights - South Korean cryptocurrency exchange Upbit is planning to launch an initial public offering (IPO) on Nasdaq following a merger with Naver, a South Korean internet firm [1][2] - The merger between Upbit's parent company Dunamu and Naver is expected to be completed this week, potentially creating a bridge between cryptocurrency and traditional finance [2][3] Company Developments - Naver's FinTech arm, Naver Financial, and Dunamu have been in discussions regarding potential collaborations, indicating a convergence of the tech and cryptocurrency sectors in South Korea [3] - Naver's quarterly revenue surpassed 3 trillion South Korean won (approximately $2.04 billion) in Q3, driven by AI integration in its services [4] - Naver Pay's revenue increased by 12.5% year-over-year and 5.2% quarter-over-quarter, reaching 433.1 billion South Korean won (about $294.5 million) [5] Market Trends - Over one-third of South Korea's population, approximately 18 million people, are engaged in trading digital assets, highlighting a significant market for digital finance [4] - Naver Pay's total payment volume in Q3 reached 22.7 trillion South Korean won (about $15.4 billion), reflecting a 21.7% increase from the previous year [5] - Naver Pay's acquisition of a 70% stake in Securities Plus Unlimited demonstrates its commitment to expanding its role in the FinTech sector [6]

Core Insights - Dunamu and Naver Financial are merging to create a financial entity valued at approximately $13.8 billion (20 trillion won) [1] - The merger is expected to pursue a Nasdaq listing, potentially increasing the valuation to at least $34.5 billion (50 trillion won) if it successfully attracts global investor interest [2] - The merger aims to enhance both companies' positions in the stablecoin market, with Dunamu planning a won-backed stablecoin and leveraging Naver Pay as the lead issuer [5][6] Company Details - The merger involves a stock swap where Dunamu shareholders will exchange their shares for Naver Financial stock at an estimated ratio of 1:3.3 to 3.4, making Dunamu a wholly owned subsidiary of Naver [3] - Post-merger, Naver's ownership stake will decrease from 69% to 17%, while Dunamu will delegate more than half of its voting rights to Naver to comply with monopoly regulations [4] - Dunamu's Chairman and Vice Chairman will become the largest shareholders of the combined entity, holding nearly 30% ownership [3] Strategic Implications - The merger is driven by ambitions in the stablecoin market, with both companies aiming to leverage their strengths to achieve broader circulation of their products [5][6] - Naver Group has been looking to advance in the payments sector, and the merger is seen as a strategic move to enhance its capabilities in this area [6] - The sentiment in the prediction market indicates low confidence that stablecoins will exceed $360 billion before February, with only a 12.3% chance assigned to this outcome [6]

IPO Plans - Bitkub is considering a Hong Kong IPO to raise approximately $200 million [1] Financial Implication - The potential IPO aims to secure $200 million in funding [1]

Bitkub has previously considered an IPO in Thailand https://t.co/X5QlVo8TPg ...

The Korea Financial Intelligence Unit (FIU) is expected to impose institutional and personal penalties on Korbit, Gopax, Bithumb, and Coinone in sequence, following Dunamu. Industry insiders expect the violations to be similar across exchanges, with penalties comparable to Dunamu’s, and most measures likely to be completed by the first half of next year. Previously, FIU fined Dunamu, the operator of Upbit, 35.2 billion KRW (about $24.35 million). https://t.co/ZpCBalQXVb ...

Market Overview - Top 8 centralized exchanges (CEXs) in Singapore are listed [1] Exchange Ranking - Coinbase is among the top CEXs in Singapore [1] - Binance is among the top CEXs in Singapore [1] - CryptoCom is among the top CEXs in Singapore [1] - OKX is among the top CEXs in Singapore [1] - Kraken is among the top CEXs in Singapore [1] - Coinhako is among the top CEXs in Singapore [1] - Gemini is among the top CEXs in Singapore [1] - Indepreserve is among the top CEXs in Singapore [1]

Group 1 - Bitget collaborates with "The Ascent Project" to provide aid for communities affected by the 6.9 magnitude earthquake in northern Cebu, Philippines, distributing essential relief supplies to 118 severely affected residents [2][3] - The earthquake is noted as the strongest in decades for northern Cebu, causing widespread destruction, displacing thousands, and severely damaging infrastructure [2] - Bitget has allocated 100,000 Philippine pesos for the relief efforts, distributing food packs, hygiene kits, and other critical necessities to over a hundred families still recovering from the disaster [2] Group 2 - The relief operation commenced on November 2, led by "The Ascent Project" with assistance from local volunteers, ensuring that aid reached the most urgent needs [2][3] - Bitget's CEO, Gracy Chen, expressed sympathy for the affected communities and emphasized the company's commitment to ongoing support and building trust within the community [3] - The fundraising was organized by Bitget's local trading community, reflecting the company's philosophy of collaborating directly with user communities to identify urgent needs and provide timely support [3] Group 3 - Bitget, established in 2018, is the world's largest panoramic exchange, serving over 120 million users with a wide range of trading options, including cryptocurrencies and tokenized assets [4] - The platform aims to enhance user trading experiences through AI-powered tools and interoperability among various blockchain tokens [4] - Bitget Wallet is designed to simplify and secure cryptocurrency transactions, connecting blockchain infrastructure with real-world finance, serving over 80 million users [4] Group 4 - Bitget is a strategic partner in promoting cryptocurrency, being the official crypto partner for La Liga in East Asia, Southeast Asia, and Latin America, and collaborating with UNICEF to provide blockchain education support to 1.1 million people by 2027 [5] - The company is also the exclusive cryptocurrency exchange partner for MotoGP™, further expanding its global influence [5]

RT Eric He | LBank (@EH_LBank)🙏LBankers, the energy continues to build. As we move deeper into Q4, this past week brought new milestones, deeper partnerships, and major momentum across the board.Here’s what we achieved:1️⃣ Strategic Partnership with CoinGlass 🤝We officially teamed up with CoinGlass to optimize LBank’s derivatives infrastructure.This collaboration grants access to deep market data, position metrics, and risk indicators, enhancing transparency and efficiency for all traders.2️⃣ First BoostHub ...

Core Viewpoint - Coinbase Markets is set to launch 24/7 futures trading for various altcoins, responding to increasing demand for continuous access to crypto derivatives [1] Group 1: Expansion of Trading Hours - Starting December 5, futures for altcoins including Avalanche (AVAX), Bitcoin Cash (BCH), Cardano (ADA), and others will be available for trading around the clock [1] - This expansion builds on existing always-on markets for Bitcoin, Ethereum, Solana, and XRP, which include both standard and nano-sized contracts [2] Group 2: Introduction of New Futures Contracts - Coinbase is working on introducing U.S. perpetual-style futures for the same basket of altcoins, which will settle on a five-year expiry rather than the indefinite format used offshore [2][3] - The exchange previously launched 24/7 BTC and ETH futures in May and long-dated futures in July, establishing itself as a compliant venue for these products in the U.S. [3] Group 3: Market Dynamics - Most liquidity for non-BTC/ETH futures currently resides offshore, particularly on platforms like Binance and Bybit [4] - A U.S. alternative with deeper institutional access and clearer regulations may gradually attract order flow, especially amid volatile funding markets and ongoing regulatory pressures [4]

Coinbase Global Inc. (NASDAQ:COIN) is one of the best cryptocurrency stocks to buy for the long term. On November 20, Erste Group cut its rating on Coinbase Global Inc. (NASDAQ:COIN) from Buy to Hold, arguing that the growing popularity of low-fee Bitcoin ETFs could chip away at one of the company’s most important revenue sources. The firm warned that as more retail investors opt for ETF exposure rather than buying crypto directly, Coinbase risks losing a meaningful share of its higher-margin retail tradin ...