The digital asset market has been put on security alert. A hacking incident worth about 8 trillion won occurred at Binance, the world’s largest digital asset exchange. Personal data leaks also followed at South Korea’s Bithumb and Gopax. Some exchanges also saw asset theft. Financial authorities have launched emergency inspections.
• Digital asset market on 'hack alert' after Binance incident... tougher regulation ahead?
After the string of incidents, the Financial Services Commission on Nov. 2 urgently convened the Financial Supervisory Service, the Financial Security Institute, the Digital Asset eXchange Alliance (DAXA) and officials from major exchanges. The FSC inspected access controls to each exchange’s computer systems, wallet withdrawal approval and signing systems, and administrator privilege management. It also called for a higher share of cold-wallet storage, round-the-clock monitoring of deposits and withdrawals, and increased security staffing and reserves.
• Antitrust regulator begins review of Naver-Dunamu combination... examines limits on competition in stablecoins • Review of Naver-Dunamu tie-up picks up... eyes on release of digital asset law this month
The Fair Trade Commission has begun reviewing the corporate combination between Naver Financial and Dunamu. It will examine potential limits on competition not only in existing digital asset exchanges and in easy payments, search and shopping, but also in the won stablecoin market that has yet to form.
Attention is also focused on a digital asset law set to be released this month. Even if the two companies win approval for the combination, their future business structure could change depending on how the digital asset law addresses key regulations such as exchange governance, won stablecoins and a licensing system. In particular, how rules on major shareholders of exchanges and the structure for issuing stablecoins are decided is expected to be a key variable separating the governance structure of Naver Financial and Dunamu and the scope of their future digital finance business.
• U.S. Democrats, after winning control of Congress, take aim at Trump coin business… probe UAE investment and Binance pardon • Senator Warren seen as likely next chair of U.S. Senate Banking Committee... signals crypto and prediction-market probes
In the global crypto market, bills came due after the U.S. midterm elections. As Democrats took majorities in both the House and Senate, the fate of the Clarity Act and the Trump family’s coin business were put on the table at once. Bitcoin appeared to regain $80,000 right after the election, but fell to $73,500 on Nov. 8, its lowest level since August, as a sharp drop in U.S. stocks, Nvidia-related bad news and caution over U.S. Federal Reserve rate hikes overlapped. It also failed to recover $75,000 on Nov. 10.
• After U.S. midterms, Bitcoin and the rebound formula history shows… is $150,000 possible in 2027?
The key variable is the Clarity Act. The bill passed the House in July 2025 and cleared the Senate Banking Committee in May this year, but failed 49 to 50 in a cloture vote in the full Senate on Sept. 15. Analysis is dominant that the chances of the current version passing as is have now fallen.
Still, it is not all pessimism. In the House vote in 2025, 78 Democratic lawmakers cast votes in favor, and some analysis says there is room for a bipartisan compromise bill that strengthens conflict-of-interest prevention and consumer protection. Ultimately, the final hurdle is President Trump’s signature.
Some in the market have cited a pattern of Bitcoin rebounding after past midterm elections to suggest $150,000 could be possible in 2027. But it is unclear whether the historical formula will repeat, given that stocks and risk assets also wobbled after the election this time.
• Ripple signals major overhaul of XRP Ledger in 2027… targets institutional finance demand • "Held XRP for 7 years… why on earth" long-term investors’ complaints erupt • Bearishness deepens after XRP plunge… can it hold $1.10?
Attention in the altcoin market turned to XRP. XRP, which held the $1.20 level last week, slid into a position where it is threatening the $1.10 support line, bringing long-position liquidations, bearishness and long-term investor complaints into view one after another.
Ripple responded with technology. Ripple engineering director Vjay Khanna (비제이 칸나) said it is preparing a big plan for performance improvements in 2027. The problem is that the roadmap does not explain the weak price. As it has not resolved questions over growth as institutional financial infrastructure moving separately from the token price, it has led to weaker investor sentiment. With the earliest point at which Ripple’s overhaul could translate into token demand being 2027, investors’ patience is expected to be tested for longer.
• Vitalik Buterin: "For the next 2 years, the crypto industry should focus on security first… survival over market share"
Last week’s biggest issue, the Binance hack, continued to generate follow-on effects. Vitalik Buterin’s comment that the next 2 years should focus on security and survival rather than market share is in the same context. Calls are expected to grow for domestic exchanges to recheck hot-wallet privilege management and signing procedures, and the system for switching to cold wallets in emergencies.
