Coinbase Eyes Strategic Stake in South Korea’s Coinone Amid Market Expansion

In a significant development within the Asian cryptocurrency exchange landscape, South Korea's Coinone is exploring a partial stake sale to bolster its competitive position, with global giant Coinbase reportedly showing keen interest. This move comes as Coinone, under the majority control of Chairman Cha Myung-hoon, seeks strategic partnerships to navigate financial pressures and capitalize on the region's rapidly growing digital asset market. The potential involvement of Coinbase signals a strategic push by the U.S.-based platform to deepen its foothold in the lucrative South Korean market, which is known for its high retail crypto adoption and technological sophistication. This development underscores the ongoing consolidation and international expansion trends within the cryptocurrency industry, where established players are seeking alliances to enhance liquidity, technology, and regulatory compliance. For investors and market watchers, this potential deal highlights the increasing valuation and strategic importance of regulated exchange platforms in key jurisdictions, potentially setting a precedent for further cross-border mergers and acquisitions in the sector. The outcome of these discussions could significantly reshape competitive dynamics in East Asia's crypto trading ecosystem.

Coinone Explores Partial Stake Sale Amid Financial Strains, Coinbase Shows Interest

Coinone, the South Korean cryptocurrency exchange, is considering a partial stake sale as it seeks to remain competitive in the rapidly expanding crypto market. Chairman Cha Myung-hoon, who controls approximately 53.44% of the company's shares through personal holdings and The One Group, is evaluating options to divest part of his stake.

The exchange has engaged in discussions with major overseas platforms, including Coinbase, as well as local financial institutions regarding potential investment opportunities. No final decisions have been made, but insiders suggest Coinbase could play a significant role in the transaction.

Local gaming firm Com2Us, the second-largest shareholder with a 38.42% stake acquired between 2021 and 2022, may also influence the outcome. The MOVE comes as Coinone faces financial challenges, with its book value plummeting to 75.2 billion won ($52.2 million) at the end of Q3—a sharp decline from 94.4 billion won previously.

BitMine Amasses 3.5% of Ethereum Supply in Strategic Accumulation

BitMine Immersion Technologies, chaired by Fundstrat's Tom Lee, has disclosed a staggering 4.24 million ETH holding—equivalent to 3.52% of Ethereum's circulating supply. The New York-listed firm's $12 billion crypto treasury now ranks as the world's second-largest, trailing only Strategy Inc.'s Bitcoin-dominated reserves.

Weekly purchase data reveals aggressive accumulation since October 2025, with December seeing particularly heavy buying. The company added 40,000 ETH in the final week of January alone, acquired predominantly through Coinbase at $2,839 per token. This positions BitMine as a formidable force in institutional crypto adoption.

Beyond Ethereum, BitMine's portfolio includes 193 BTC and strategic stakes in Beast Industries and Eightco Holdings. The accumulation coincides with ETH's price decline, suggesting a calculated dollar-cost averaging strategy by the institutional player.

Coinbase Commerce Hack Wallet Reactivates After Two Years, Moves $5.4M ETH to Tornado Cash

A dormant wallet linked to the 2024 Coinbase Commerce hack has abruptly resumed activity, funneling $5.4 million worth of ethereum into privacy mixer Tornado Cash. Blockchain data reveals the attacker initiated fund movements in January 2026 after nearly two years of silence, employing a structured laundering pattern involving 100-ETH batches followed by smaller increments.

The assailant first diverted $5.8 million in DAI to a new address, converted it to ETH, then systematically obfuscated the trail. Approximately $4.6 million in DAI remains parked in a secondary wallet, suggesting phased liquidation plans. This resurgence coincides with broad crypto market weakness—Ethereum has shed 10% weekly, now trading at $2,890, a stark contrast to its $3,100-$3,700 range during the April 2024 exploit.

The original breach saw $15.97 million drained from a merchant's Coinbase Commerce contract via 1,700+ USDC transactions on Polygon over 16 hours. Forensic analyst ZachXBT had flagged the suspicious outflows, which exhibited hallmarks of a targeted compromise rather than a platform-wide vulnerability.

Regulatory Delays Temper Crypto Optimism as XRP, Bitcoin, and Ethereum Eye New Highs

Coinbase's withdrawal of support for the CLARITY Act has stalled U.S. crypto regulation efforts, with the Senate Banking Committee postponing deliberations. Despite this setback, market participants anticipate comprehensive legislation could still emerge this quarter—a development likely to propel major digital assets to record valuations.

XRP remains a focal point, with its $116 billion market cap reflecting growing institutional adoption. The XRP Ledger's design for financial institutions positions it as a viable challenger to legacy systems like SWIFT. Recent endorsements from the UN Capital Development Fund and WHITE House underscore its disruptive potential in global payments.

The resolution of Ripple's SEC lawsuit has removed a key overhang, clearing the path for accelerated adoption. Market technicians note converging bullish indicators across BTC, ETH, and XRP charts, suggesting synchronized upside potential should regulatory clarity materialize.