South Korean Regulator: $40B Bithumb Bitcoin Giveaway Shows Need for Stricter Rules

Published at 2026-02-09 06:15:19

South Korea's top financial regulator said Monday that an accidental distribution of more than $40 billion in bitcoin by exchange Bithumb to its customers underscores serious operational weaknesses in the crypto sector. The regulator described the event as evidence that existing oversight, custody practices and exchange controls are inadequate to protect investors and preserve orderly markets.

Officials indicated the incident will speed work on tighter rules, including stronger custody standards, mandatory incident reporting and more frequent audits of trading platforms. For users and institutions the episode spotlights heightened counterparty risk and potential market disruption, and regulators say faster, clearer safeguards are needed to restore trust in South Korea's crypto ecosystem.

South KoreaBithumbCrypto SafetyRegulationFinancial StabilityBitcoin

Share on:

MicroStrategy acquired 1,142 bitcoins for about $90 million, averaging $78,815 per coin. The purchase was made at the onset of last week’s crypto market crash.

BitcoinMicroStrategyMichael SaylorMarket SentimentCorporate Treasury

Published at 2026-02-09 13:30:43

Citigroup Reiterates Buy on MicroStrategy Amid Aggressive Bitcoin Push

Citigroup reaffirmed its buy rating on MicroStrategy on Feb. 9, 2026, backing the firm’s continued Bitcoin accumulation despite billions in unrealized losses. The move signals ongoing institutional confidence in corporate Bitcoin treasuries.

CitigroupBitcoinInstitutional InvestingMicroStrategyStocks

Published at 2026-02-09 13:15:43

Bitcoin, Stock Futures Rebound as Markets Steady After Tech Rout

Bitcoin held above $70,000 as crypto markets stabilized and U.S. stock futures rebounded; a CFTC oversight bill advanced in Congress and U.S. jobs data is due Wednesday.

BitcoinCryptoRegulationStocksJobs

Published at 2026-02-09 12:30:49

Michael Saylor Turned MSTR Into Wall Street’s Bitcoin Proxy

MicroStrategy’s stock has become a de facto Bitcoin play as Michael Saylor piled BTC into the corporate treasury. Traders now watch MSTR for equity-style exposure and derivative-driven signals tied to BTC.

BitcoinInstitutionalMicroStrategyMSTRTrading

Published at 2026-02-09 11:15:21

Four Years After the Crypto Bowl, Only Coinbase Ran a Super Bowl Crypto Ad

Four years after the “Crypto Bowl,” Coinbase was the lone crypto advertiser during Sunday’s Super Bowl, illustrating how the industry has pulled back from high-profile marketing. The move underscores tighter budgets and heightened regulatory sensitivity across the sector.