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Korbit Sells 15 BTC and 60 ETH as Korea Crypto Exchanges Face Volume Slump
Korbit’s decision to sell Bitcoin and Ethereum has put South Korea’s crypto market under fresh scrutiny, as the country’s largest exchanges face an 88% volume drop and their weakest trading activity in two years amid rising cost pressure today nationwide. Korbit announced plans to sell 15 BTC and 60 ETH between July 3 and July 31. The exchange said the proceeds would support operating expenses, including labor costs. The move comes as fee revenue weakens across South Korea’s crypto market. Korbit, one of the country’s five licensed exchanges, depends on trading activity for a large share of its income. The ... (full story)
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