Share:
  • Business Korea covered a report suggesting that most cryptocurrency exchanges in South Korea, are subject to bankruptcy.
  • The report cited low trading volumes, as to why this danger is so prominent for domestic companies. 

 

Nearly every single cryptocurrency exchange based in the country of South Korea are subject to all go into bankruptcy, according to a report from Business Korea.

In terms of the report from Business Korea, it covers ground that the only companies that are “safe” from going into bankruptcy are the ones that belong to the top 100 list available in the world.

Business Korea is citing low trading volumes as to the main reason for why this danger of losing so many companies is possible.

 

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Join Telegram

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content

Editors’ Picks

Will Bitcoin price test $20,000 again?

Will Bitcoin price test $20,000 again?

Bitcoin price shows clear signs of distribution occurring on the four-hour chart, which indicates the possibility of a trend reversal. Moreover, BTC has been consolidating for more than two weeks with no direction in sight, making it a perfect place to form a local top.

More Bitcoin News

Ethereum Classic Price Prediction: ETC inching towards greatness?

Ethereum Classic Price Prediction: ETC inching towards greatness?

Ethereum Cassic price is consolidating before what appears to be the next move up. Risk management should be considered moving forward, as the ETC price will likely witness an influx of volatility.

More Ethereum Classic News

Will Binance Coin price face a drawdown as Binance suspends USD bank transfers from February 8?

Will Binance Coin price face a drawdown as Binance suspends USD bank transfers from February 8?

Binance is the biggest cryptocurrency exchange in the world. It also emerged as a key player in the crypto industry owing to its initiatives following the FTX collapse in November 2022. 

More Binance Coin News

Digital Currency Group reaches agreement with Genesis, set to wind down its loan book

Digital Currency Group reaches agreement with Genesis, set to wind down its loan book

The Digital Currency Group (DCG) and Genesis have been making headlines for weeks now. The crypto lender filed for bankruptcy last month, and the heat surrounding the development is only starting to subside. On the other hand, DCG is attempting to fix it all in one go.

More Crypto News

Bitcoin: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher

Bitcoin: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher

Bitcoin (BTC) price is at an inflection point as it continues to rally amid multiple sell signals on lower time frames. The Nonfarm Payrolls (NFP) report, including the unemployment rate and average hourly earnings, is set to be announced on February 3 at 1330 GMT.

Read full analysis

BTC

ETH

XRP