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This is the first case under South Korea's Virtual Asset User Protection Act, which took effect in July 2024.
Prosecutors said the platform facilitated over $105 million in crypto-based narcotics sales between October 2020 and March 2024.
Bitwise CEO Hunter Horsley said staking is a key growth opportunity for clients holding spot crypto assets.
The framework sets a tiered structure for custodians, determining the proportion of client assets they can hold.
Ark Invest CEO Cathie Wood recently indicated on X that gold's recent price rally could be a precursor to bitcoin's next bull run.
The move comes amid ongoing tensions with Aave DAO over which entity ultimately controls the Aave lending protocol.
A Glassnode analyst noted that 44% of the bitcoin supply is "now underwater," given that the token has dropped about 30% in the past month.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
At the time the former Eclipse CEO and founder Neel Somani acknowledged but denied allegations of sexual harassment.
Payward derived about 47% of its revenue from trading operations and the remaining 53% from its growing list of other services.