Coinbase weighs Coinone stake as South Korea crypto deal activity surges

  • Coinbase is weighing an equity investment in Coinone as the Korean exchange explores a partial stake sale.
  • Coinone’s valuation is under pressure from losses even as it invests in AI and new trading features.
  • Deal activity is accelerating across South Korea’s crypto exchanges as global players seek regulated access.

Coinbase is weighing a potential equity investment in Coinone, South Korea’s third-largest crypto exchange, as the platform explores options that could include selling part of its controlling shareholder’s stake, according to local media and industry sources.

A local outlet reported on Sunday that Coinone has put itself on the market and is discussing scenarios tied to Chairman Cha Myung-hoon’s holdings.

Cha controls 53.44% through his personal stake and his holding company, The One Group.

The possible investment has quickly gained attention because it comes as South Korea’s crypto exchange sector enters a new phase of dealmaking, with major financial groups and global platforms looking for ways to secure access to regulated won-based trading infrastructure.

Coinone sale speculation grows after leadership shift

Sale chatter around Coinone has picked up after Cha returned to frontline management just four months after stepping down as chief executive.

Some observers have interpreted his return as a move that could support a stake transaction, particularly as the discussions reportedly link directly to his controlling position.

Coinone has not confirmed that it is pursuing a full sale.

However, the reports suggest it is exploring multiple structures around ownership, leaving the door open for partial stake sales, new strategic investors, or broader shifts in shareholder control.

Losses weigh on valuation even as tech upgrades accelerate

Coinone has said Cha stepped back into management to sharpen the exchange’s technological competitiveness as it nears a double-digit market share.

The company has highlighted investment in areas such as artificial intelligence as part of its product and infrastructure buildout.

At the same time, Coinone’s losses have continued to pressure its valuation.

Seoul Economic Daily put Coinone’s book value at 75.2B won, or about $52M, at the end of the third quarter, below Com2uS’s reported acquisition cost.

Ownership attention has also turned to Com2uS, the South Korean gaming group that accumulated a 38.42% stake in Coinone between 2021 and 2022.

The size of that holding means any transaction involving Coinone’s control structure would likely be closely watched by market participants tracking how shareholder dynamics may evolve.

Coinbase visit highlights hunt for Korea-compliant partners

Industry sources say Coinbase plans to visit South Korea this week and meet major local players, including Coinone, as it looks for partners to build products aligned with Korean rules.

The reported trip has added momentum to speculation, as South Korea remains one of the world’s most active retail crypto markets but also one of the hardest for foreign firms to enter directly.

In that context, strategic investment can offer a more workable path, allowing overseas platforms to collaborate with licensed local exchanges rather than attempting to build a standalone operation from scratch.

The reports have also circulated widely in the crypto community.

Korea crypto exchange deal wave gathers pace

Coinbase’s reported interest comes as dealmaking accelerates across South Korea’s crypto exchange sector, driven by the value of licensed platforms and their access to won-denominated trading rails.

Traditional finance groups and big tech players have been circling the market, as consolidation becomes a defining theme.

Regulators recently cleared Binance’s long-running effort to take over GOPAX, a move that has helped fuel a wider rush of takeover interest.

Naver Financial agreed to acquire Dunamu, the operator of market leader Upbit, in an all-stock deal, while local media have also reported Mirae Asset Securities is pursuing Korbit.

Coinone has attempted to stand out by building new product features.

In Aug. 2025, it launched what it called the country’s first flexible Bitcoin staking service, allowing users to earn rewards without locking up their holdings.

Still, a possible Coinbase tie-up is emerging at a time when South Korea’s exchange landscape is shifting quickly, and when global players are searching for regulated entry points into one of Asia’s most closely watched crypto markets.

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Bitcoin ETFs in Japan: why the FSA’s next move could reshape retail investing

  • Nomura Holdings and SBI Holdings are among the financial groups expected to create Japan’s first crypto ETFs.
  • Global crypto market capitalisation has tripled in three years to around $3 trillion.
  • US-listed spot bitcoin ETFs have grown to roughly $120 billion in total net assets.

Japan could be heading towards its first exchange-traded funds (ETFs) that invest in cryptocurrencies, with listings possible as early as 2028, Nikkei reports.

If the plan moves forward, it could give everyday investors an easier route into bitcoin and other digital tokens, without the added complexity of buying and storing crypto directly.

The development comes at a time when large global institutions are already adding crypto ETFs to their portfolios, while regulators in major markets have started treating digital assets as a more established part of modern investing.

Japan’s Financial Services Agency (FSA) now appears set to test how far crypto exposure can go inside traditional market products, while tightening investor safeguards to match the risks involved.

Crypto ETFs could enter Japan’s regulated market

The FSA plans to add cryptocurrencies to the list of specified assets that ETFs can invest in, according to Nikkei.

This would be a key regulatory step because it would allow fund managers to create products that track crypto prices and trade them through an exchange, much like equity or commodity ETFs.

Stronger investor protection measures are also expected to be proposed alongside the change.

That is likely to be central to how Japan positions crypto ETFs, given the market’s reputation for sharp price swings and the history of losses faced by retail traders during major downturns.

If the rule change is implemented, it would bring crypto closer to Japan’s mainstream investment structure, making it available through products that are more familiar to everyday investors and operate within established oversight.

Nomura and SBI may lead the first wave

Several large financial players are already seen as potential early movers.

Nikkei named Nomura Holdings and SBI Holdings among the groups poised to create Japan’s first crypto ETFs, signalling growing interest from firms that already play a major role in Japan’s financial system.

However, any ETFs built on this framework would still need approval to list on the Tokyo Stock Exchange.

That means Japan’s top exchange would decide whether these funds can trade publicly, opening the door for wider retail participation through ordinary brokerage accounts.

For fund issuers, ETFs could also provide a more scalable way to meet growing demand for crypto exposure, while keeping investors inside more regulated channels than direct crypto trading platforms.

Why ETFs could lower the barrier for retail investors

Crypto has become a significant alternative asset class, but ordinary investors still face practical hurdles when buying it directly.

Bitcoin and other digital assets are traded and stored in crypto wallets protected by private keys, which can be difficult for less experienced investors to manage safely.

This is where ETFs can change the experience.

Instead of learning how wallets work or taking responsibility for storage, investors can buy and sell ETF units through a stock exchange, similar to how they trade shares.

That ease of access is one reason crypto ETFs have become a popular gateway product in other markets.

Regulators elsewhere have already taken this route.

The US and Hong Kong approved their first spot cryptocurrency ETFs in 2024, setting a benchmark that Japan could eventually follow as it builds its own framework.

Institutional adoption is growing, despite volatility

Bitcoin and other cryptocurrencies can be volatile, but the sector has continued to expand.

Global crypto market capitalisation has tripled over the past three years to around $3 trillion.

Institutional investors have also played a bigger role in turning crypto into a more portfolio-friendly asset class.

Pension funds, endowment funds for major universities such as Harvard, and government-affiliated investors have started including bitcoin ETFs in their holdings, adding weight to the idea that crypto exposure is no longer limited to high-risk retail speculation.

The US market offers an example of the scale involved once regulated products become widely available.

The total net assets of US-listed spot bitcoin ETFs now amount to roughly $120 billion.

Some in Japan’s asset management industry estimate that crypto ETFs in the country could eventually reach 1 trillion yen ($6.4 billion).

If Japan moves ahead with listings, that projection suggests a meaningful level of demand could emerge from domestic investors looking for exposure through exchange-traded funds rather than direct ownership.

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Bitcoin price forecast: BTC stays below $90k as recovery signs slow down

Key takeaways

  • BTC is down less than 1% as the market remains choppy. 
  • The leading cryptocurrency could retest the $87k support level before rallying higher. 

BTC’s price action remains choppy

The cryptocurrency market continues to underperform as BTC and the other leading coins are in the red. Bitcoin has lost 0.7% of its value in the last 24 hours and is now trading around $89,150. 

The broader cryptocurrency market is attempting to stabilize after this week’s sell-off. Bitcoin price started the week on a negative note, closing below key support levels: the 50-day Exponential Moving Average (EMA) at $91,942.

The bulls attempted to defend the $90k psychological level but failed, with Bitcoin retesting the midpoint of a horizontal parallel channel at $87,787 before embarking on a recovery. At the time of writing on Friday, BTC is trading at around $89,175.

Will Bitcoin recover above $91k soon?

If the recovery continues, Bitcoin could extend its rally towards the first major resistance and the 50-day EMA at $91,942.

The Relative Strength Index (RSI) on the 4-hour chart is 39, pointing upward toward the neutral 50 level, indicating fading bearish momentum. For the bullish momentum to be sustained, the RSI must move above the neutral level. 

BTC/USD 4H Chart

Despite that, the Moving Average Convergence Divergence (MACD) indicator showed a bearish crossover on Tuesday, suggesting a mild downward pressure.

If the recovery fails and Bitcoin’s daily candle closes below the $87,787 support level, it could extend the fall toward the lower consolidation boundary at $85,569. 

Currently, the market conditions are choppy, with no clear direction in sight. Bitcoin has eliminated most of the gains it accumulated earlier this month, thanks to the trade tensions between the United States and the European Union (EU) regarding Greenland. 

However, while the issue seems to be resolved, Bitcoin’s performance has not significantly improved.

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Hedera (HBAR) price drops toward $0.10 despite McLaren F1 partnership

  • Hedera (HBAR) has intensified its downward trajectory.
  • The token slipped towards the $0.10 mark amid persistent selling pressure and broader cryptocurrency market weakness.
  • This decline comes despite the partnership with the McLaren F1 Team.

Hedera’s price fell alongside other cryptocurrencies on Friday, reaching intraday lows near $0.10.

After seeing a sharp decline on  January 19, HBAR rebounded slightly to around $0.115.

However, sell-off pressure across the risk assets market has pushed bulls into the woods to leave the brief upside as a mask of a likely deeper rot.

It’s an outlook mirrored across the altcoin ecosystem as Bitcoin struggles below $90,000.

Due to profit-taking amid macroeconomic and geopolitical headwinds, BTC has touched lows of $87,700 and currently hovers around $89,230.

HBAR dips despite McLaren partnership

Struggling altcoins, including HBAR, risk dragging lower. Hedera seems to have failed to capture upside momentum despite the news of a major partnership with McLaren.

The Hedera team announced a multi-year partnership with McLaren Racing on Thursday, revealing that the crypto company is now an Official Partner of the McLaren F1 Team.

Several crypto companies, including Coinbase, Crypto.com and Bybit have previously inked major sports sponsorship deals. Hedera is eyeing expansion via this latest move.

“Working with one of the world’s most recognized sports brands is a big step for the Hedera ecosystem. It gives us a chance to show what Web3 can look like when it’s built on a network people can trust, and when it’s tied to experiences fans actually want,” said Charles Adkins, CEO of HBAR, Inc.

HBAR technical outlook

HBAR’s chart reveals a pronounced bearish structure, with the price well below key moving averages.

The altcoin has been in a prolonged downtrend since it touched highs of $0.35 in January last year.

Technical indicators point to further downside risk, as HBAR breached the $0.12 support earlier this month and now hovers near $0.10, with oscillators like RSI trending lower. Hedera’s token is below all major averages.

Hedera Price Chart
Hedera price chart by TradingView

If buyers fail to reclaim $0.11, losses could accelerate toward October’s lows around $0.0976.  

Hedera’s market capitalization stands at approximately $4.65 billion, reflecting a 65% drop from July 2025 peaks, exacerbated by declining total value locked at $61.5 million and a 16% stablecoin supply reduction over the past week.

HBAR futures traders have ramped up short positions, anticipating continued pressure amid absent ETF inflows.

Analysts note that while a bounce could bring the $0.16 mark into view, current metrics favor consolidation or deeper correction unless Bitcoin stabilizes.

Currently, BTC is facing pressure as investors pile into gold.

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PI could slip below $0.17 despite payments update: Check forecast

Key takeaways 

  • PI is down 1.6% in the last 24 hours, reversing some of its Thursday gains.
  • The bearish performance comes despite Pi Network announcing a creator event and new updates to support easy Pi payment integration.

PI dips below $0.19 as bearish trend resumes

PI, the native coin of the Pi network, has lost 1.6% of its value in the last 24 hours and is now trading above $0.18. 

The bearish performance comes despite Pi Network announcing plans on Wednesday to boost the ecosystem, including a creator event, integration of the PI payments system into apps built on the network, and extended access to app creation.

The team revealed that the PI payments support is limited to Test-Pi, and new or non-migrated Pioneers can now deploy app iterations by watching ads instead of paying fees.

Furthermore, Pi Network believes that the ad-supported application building on Pi App Studio could reduce the financial burden of creating Pi applications.

In addition to that, retail demand continues to increase despite PI’s price decline over the past few days. Data obtained from PiScan shows that the users have removed 1.17 million PI tokens from CEXs over the past 48 hours.

The removal from central exchanges will decrease selling pressure on PI as the tokens are transferred to long-term wallets. 

PI remains bearish and could dip lower

The PI/USDT 4-hour chart is bearish and efficient as Pi has lost 1.6% of its value in the last 24 hours. PI failed to maintain its rally above the $0.1919 support-turned-resistance level, marked by the October 11 low.

At press time, PI is trading at $0.1839. If the selloff continues, PI could retest the October 10 and January 19 lows at $0.1533 and $0.1502, respectively.

PI/USDT 4H Chart

Technical indicators on the 4-hour chart suggest that the bears remain in control. The Relative Strength Index (RSI) is 40, below the neutral 50, while the Moving Average Convergence Divergence (MACD) extends below the signal line.

However, if the bulls regain control and PI closes its daily candle above $0.1919, it could further extend the rally, potentially targeting the December 19 high at $0.2177.

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