DMM Crypto shutters Seamoon Protocol

Singapore-headquartered crypto exchange platform Crypto.com has boosted its standing amongst its peers by achieving the largest spot crypto trading volume for the month of July where USD-supported exchanges are concerned. According to data published by The Block, the exchange platform achieved $68.85 billion in spot trading volume among USD-supported exchanges in July out of an overall total of $178.84 billion. American exchange platform Coinbase was next in the rankings, with a July trading volume total of $63.97 billion.Photo by Alexander Grey on UnsplashInstitutional client boost It’s understood that the uptick in trading volume experienced by the exchange platform is as a consequence of an increase in the number of institutional clients using Crypto.com’s trading services.  Giuseppe Giuliani, the managing director of Crypto.com, told Cointelegraph that more institutional clients are using the platform due to an improved product offering, together with stronger market conditions. Giuliani stated: “This growth has been primarily driven by the acquisition of new clients on the platform, both large institutions and advanced retail traders, and is being supported by stronger market conditions in 2024.” Giuliani told The Block that growth on the platform has played out over the medium term, stating:  "We have seen incremental market share growth month on month over the last 18 months.” Driving Bitcoin unit price Institutional adoption has been a developing theme in 2024. Some analysts have pointed to its importance in the attainment of an ever higher Bitcoin unit price. Crypto market analyst Willy Woo has suggested recently that a 3% allocation by institutions could lead to a Bitcoin unit price of $700,000. In its most recent quarterly report, global investment bank Canaccord Genuity outlined that there is growing institutional adoption relative to spot Bitcoin exchange-traded funds (ETFs). The launch of spot Ethereum ETF products in the U.S. last month is also understood to have helped towards an improved monthly trading volume for Crypto.com. Giuliani stated: “In the week of July 21 during which Ether ETF was launched, we have seen double-digit growth in our exchange’s Ether spot and perpetual volume week-on-week, building on consecutive weeks of robust volume growth.” Furthermore, the exchange platform claims to have seen increased interest and market participation from TradFi firms. Growing through licensing and sponsorship Crypto.com has attempted to further its market impact worldwide, including in Hong Kong, having applied for a trading license in the Chinese autonomous territory in February, and succeeding in that endeavor more recently according to subsequent reports. It received a license from the UK’s Financial Conduct Authority (FCA) in 2022, with the FCA awarding the company a further license, an Electronic Money Institution (EMI) license, in 2023. High profile sports sponsorships is another marketing strategy the firm has pursued in recent years. The company has claimed to be reaping the rewards of these deals, which it has made in Formula 1 (F1) motor racing and the Ultimate Fighting Championship (UFC).

Despite ongoing fluctuations in the cryptocurrency market, analysts suggest that sustained institutional activity is likely to underpin a near-term rebound. As Bitcoin recovered above $90,000 on Dec. 5, market observers began weighing potential risks against growing evidence of corporate and sovereign adoption.Photo by Austin Hervias on UnsplashStructural risks seen as limitedAccording to South Korean news outlet Etoday, Hong Sung-wook, a researcher at NH Investment & Securities, said that the recent slump in both Bitcoin and Strategy stock may weigh on shareholders but does not fundamentally threaten the company’s solvency. He noted that concerns that typically emerge during Bitcoin downturns seldom reflect new underlying risks. Addressing the potential removal of Strategy from the MSCI index, pending review results expected by Jan. 15, Hong indicated that the impact would likely be limited, as the firm has already exhausted its capacity to make additional Bitcoin purchases. However, he cautioned that prolonged share price weakness could force companies to reevaluate digital asset treasury (DAT) models. Such a shift, he warned, could trigger corporate sell-offs that would burden the broader market. Hong also addressed concerns related to stablecoins and future technology. Despite S&P Global Ratings assigning Tether its lowest grade of "weak," Hong observed that the issuer maintains reserves exceeding the USDT in circulation, rendering a mass withdrawal crisis unlikely. Regarding the threat of quantum computing, he argued that the timeline remains uncertain and that the Bitcoin network could mitigate future risks through consensus-driven protocol upgrades. Policy moves may offer market tailwindsLooking ahead, the analyst identified several constructive developments that could bolster the market, including the potential passage of a U.S. crypto market structure bill early next year. He also pointed to the anticipated nomination of Kevin Hassett as Federal Reserve Chair by President Trump. Hassett is expected to favor interest rate cuts, creating a potentially favorable macro environment. Additionally, Vanguard’s decision to permit the trading of select third-party crypto ETFs and mutual funds was cited as significant, given the asset manager’s historically conservative stance on digital assets. While the market has shifted into a broader risk-off mode, institutional demand for Bitcoin has continued to build, including activity that began well before the recent pullback. The Czech central bank recently established a $1 million test portfolio comprising Bitcoin, a USD stablecoin, and a tokenized deposit to research payment futures, though it clarified that it does not currently plan to add digital assets to its international reserves. In the academic sector, a Form 13F filing with the U.S. SEC revealed that Harvard Management Company, which oversees a $56.9 billion endowment, held 6.8 million shares of BlackRock’s iShares Bitcoin Trust ETF (IBIT) as of Sept. 30, a threefold increase from the previous quarter. Furthermore, BlackRock CEO Larry Fink reportedly stated at the New York Times DealBook Summit 2025 that multiple sovereign wealth funds have begun accumulating Bitcoin, according to Forbes. Korean banks advance crypto integrationThis shift toward institutional acceptance is also materializing within South Korea’s traditionally conservative banking sector. The Maeil Business Newspaper reported that Woori Bank recently became the first major South Korean lender to display real-time Bitcoin prices on its trading floor, allowing dealers to track the asset alongside equities and foreign exchange rates. Concurrently, Hana Financial Group announced a partnership with Dunamu, the operator of the Upbit exchange, to develop blockchain-based remittance services, according to The Korea Economic Daily. By leveraging Hana’s global network and Dunamu’s technology, the initiative aims to reduce settlement times and costs for cross-border payments. Hana intends to introduce the technology for transactions between its Korean offices and overseas branches as early as the first quarter of next year, with broader expansion planned as domestic regulations evolve. Hana intends to launch the service at overseas branches as early as the first quarter of next year, with gradual expansion planned as domestic regulations evolve. 

Hana Securities Holds Second Event to Promote Security Token VentureHana Securities, the securities arm of South Korean financial holding company Hana Financial Group, is currently holding the second event of its Meta1 project, which aims to bridge future assets with modern finance as part of the company’s security token platform venture.This comes after the first event in April, which was organized in collaboration with the art gallery Print Bakery (PBG), during which it showcased paintings and NFT artwork by PBG exclusive artists Kim Sunwoo and DADAZ.Photo by Zach Key on UnsplashA fusion of NFT art and creative workshopsThe second event, dubbed “Meta1 Art & Play,” is being held in collaboration with PBG again at Airdrop Space in Garosu-gil, southern Seoul, and will continue until September 3. It showcases an art exhibition of 20 works, including new NFT artwork by Kim Sunwoo and DADAZ as well as pieces by collage artist Sunhotan and illustrator Boat. The latter two artists will also teach one-day art workshops for pre-registered guests, and their works will later be issued as NFTs, Hana Securities said.Collaborative pop-ups and diverse eventsIn addition, the event features a pop-up bar jointly operated by Hana Securities and online liquor retailer Dali. Visitors can enjoy a cocktail made with the Johnnie Walker Blue Label Nomad Seoul edition whisky by signing up for Dali and opening a Hana Securities banking account. Johnnie Walker and Dali are participating as sponsors of the event.Visitors who make reservations beforehand will also be eligible to receive a cup of coffee and an NFT made by one of the participating artists. Surprise gifts will also be prepared for 100 guests every day on a first come, first served basis.“We have prepared ‘playable, visual, and enjoyable’ content for visitors to have hands-on engagement in line with the recent trend of experience-based consumption,” said Im Sang-soo, Head of the Wealth Management division at Hana Securities.