South Korea blocks access to 27 offshore crypto exchanges
South Korea is blocking 27 unregistered foreign crypto exchanges, including #KuCoin , #MEXC , #Phemex , #BingX , and #BitMart , expanding its crackdown beyond mobile apps to their websites. South Korea’s Financial Intelligence Unit (FIU) said that the Korea Communications Standards Commission approved the restrictions after reviews on October 6-7. The measures will block websites operated overseas and terminate services run domestically.
South Korean regulators will seek to block unregistered exchanges once detected, without waiting for court rulings or confirmed user losses. Platforms targeting Korean users through local-language websites, marketing, or won payments face up to five years in prison or a 50 million won fine. The FIU has referred 44 operators for investigation and plans to block replacement websites.
#Blur will shut down its #NFT marketplace frontend on November 12, but its onchain protocol will remain operational. $BLUR will retain control over the protocol’s fee switch. #Blend , Blur’s NFT lending protocol, will stop matching new loans on the same day. Borrowers must repay their loans by the deadline or risk default. Blur will then provide a tool to withdraw assets from Blend. $BLUR dropped 35.8% on the news to about $0.011 ($34.0M market cap).
Public companies continue to expand their Bitcoin holdings, solidifying cryptocurrency's role in traditional financial markets. With industry leaders like #Strategy holding substantial amounts, the total $BTC reserved by these firms now surpasses an impressive 1,279,000 $BTC , representing significant confidence in Bitcoin's long-term value. As the market matures, these holdings underscore the evolving relationship between traditional institutions and digital assets.
SWI Group secures €800M to convert Genesis Digital into AI data centres
Amsterdam-listed digital infrastructure firm #SWIGroup , which took control of former Bitcoin miner #GenesisDigitalAssets earlier this year, has raised €800M to expand its data centre infrastructure and #AI computing capacity. The capital increase, backed by undisclosed institutional investors, values SWI at €6.1B and brings its total equity raised since March to more than €1B.
SWI will invest in power infrastructure, computing capacity and projects across Europe and the US. CEO Max-Hervé George said it plans to market Genesis Digital’s sites in Texas, North Carolina, South Carolina and Sweden to hyperscalers, while selling its remaining three mining sites in Kazakhstan and exiting Bitcoin mining.
#Payward , the parent of cryptocurrency exchange #Kraken , has received Full Market Approval from Dubai’s Virtual Assets Regulatory Authority #VARA , paving the way for the planned launch of its crypto services in the coming weeks. Kraken is set to enter the UAE, offering AED-denominated spot and margin trading, direct AED deposits and withdrawals, onchain staking, and tokenized stocks through #xStocks .
Institutional clients will also have access to OTC spot trading and Kraken Prime. Crypto derivatives and additional products are expected to roll out from late 2026 through 2027, pending further regulatory approval. Payward initially received preliminary approval from VARA in May.
#Strategy announces acquisition of 250 $BTC for $21.5M and repurchases $192M of $STRC . Strategy holds 848,250 $BTC and $5.5B in USD assets. By continuing to grow its #Bitcoin holdings, the company maintains its status as a major force in the cryptocurrency market, drawing interest from investors and industry analysts.
Strategy is the largest Bitcoin Treasury Company, an independent, publicly traded business intelligence company, and a Nasdaq 100 stock.
Securitize announces the launch of 1:1-backed tokenized stocks
#Securitize has launched tokenized U.S. stocks on its platform, initially offering tokens linked to Apple, Microsoft, Nvidia, Alphabet, Tesla, Meta, and Amazon. The offering is also expected to expand to include SpaceX, Palantir, and crypto-focused companies Circle and Strategy. The tokens are backed 1:1 by underlying shares held through Securitize Markets’ regulated brokerage infrastructure under the Convertible Entitlement Token (CET) framework. Holders are entitled to applicable shareholder rights, dividends, and corporate actions.
DWF Labs affiliates sue BitGo for $141M over early token sales
#DWFLabs affiliates #DWFMaas and #FalconDigital have filed a lawsuit against crypto custodian #BitGo in London’s High Court, alleging that BitGo breached an OTC agreement by selling $FF (Falcon Finance) and ESPORTS tokens before the agreed lock-up period expired, contributing to a decline in their prices. The parties agreed on a discounted token price subject to a three-month lock-up period and a subsequent vesting schedule.
DWF alleges that BitGo transferred the tokens to an exchange around two months before the first unlock, triggering selling pressure and reducing the value of its remaining holdings. DWF is seeking $141M in damages. BitGo has declined to comment on the lawsuit, and the allegations have yet to be adjudicated by the court.