Naver | Crypto

Crypto VC deals fell sharply in November, but total funding jumped to $14 billion due to one mega-acquisition. The post Crypto VC Funding Surges in November on Naver’s $10.3B Deal appeared first on Cryptonews.

The breach occurred as Upbit’s parent company, Dunamu, sealed a $10 billion acquisition deal with Naver and plans an initial public offering in the US. Update Nov. 27, 9:23 am UTC: This article has been updated to include comments from Trezor CEO Matej Zak. South Korea’s biggest crypto exchange, Upbit, temporarily froze deposits and withdrawals on Thursday after detecting about $36 million in unauthorized outflows from a Solana-network hot wallet.  In an announcement, the exchange said the suspicious transfers were flagged around 4:42 am local time (7:42 pm UTC), prompting a shutdown of transfer services and a full security review of its supported crypto assets.  Read more

Naver Financial plans to acquire Dunamu in a $10.3 billion stock-swap deal, issuing 87.56 million new shares and making the crypto giant a wholly owned subsidiary. Naver Financial, the fintech arm of South Korean tech conglomerate Naver, announced plans to acquire Upbit operator Dunamu in a stock-swap deal valued at about 15.1 trillion won ($10.3 billion). According to a Wednesday filing, Naver Financial will issue 87.56 million new shares to Dunamu shareholders. The transaction will make Dunamu a wholly owned subsidiary of Naver Financial. The exchange ratio was set using an external discounted cash-flow valuation, which put the corporate value ratio at 1:3.064569 and, after adjusting for each firm’s outstanding shares, produced a final exchange price ratio of 1:2.5422618. Read more

Naver Financial, the fintech arm of South Korean internet giant Naver, is preparing to roll out a stablecoin wallet in Busan. The post South Korea’s Naver to Launch Stablecoin Wallet With Hashed and BDAN appeared first on Cryptonews.

Naver Financial, the fintech arm of South Korea’s largest search engine, is weighing a potential share-swap agreement with Dunamu, the operator of Upbit. Earlier today, reports from local outlets suggested that the talks had already advanced into merger territory, but Naver’s regulatory filing clarified that no binding terms have been confirmed. The disclosure, submitted to […] The post Naver merger talks to route 30M shoppers to Upbit sparking fee collapse appeared first on CryptoSlate.