Fri, September 27, 2024 at 00:04

• 

  Kang-hoon

  • Hello, Annie.

  • Today, I have some interesting news about the top five cryptocurrency exchanges in Korea and their efforts in investor protection during the first half of this year.

  • 
• Annie

  • Oh, that sounds intriguing!😊 Which exchange showed the most interest in investor protection?

  
• 

  Kang-hoon

  • Upbit led the pack, introducing the industry's highest compensation policy for damages.

  • They were followed by Bithumb, which significantly enhanced its app security features.

• Annie

  • Wow, Upbit seems quite proactive!

  • What specific actions did they take?

  
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• 

  Kang-hoon

  • In June, Upbit announced plans to delist some altcoins due to their low technical maturity or lack of project progress.

  • This move was aimed at improving the health of the cryptocurrency market and strengthening investor protection.

• Annie

  • That's a bold move!

  • How did the community react to this?

  
• 

  Kang-hoon

  • The community had mixed reactions.

  • Some appreciated the focus on market health and investor protection, while others were concerned about the impact on their investments.

• Annie

  • I see.

  • What about Bithumb?

  • What steps did they take?

  
• 

  Kang-hoon

  • In May, Bithumb's university student supporters, 'Thumbs Up,' organized a presentation of ideas to improve the exchange.

  • They identified problems and proposed solutions to enhance convenience and investor protection.

• Annie

  • Interesting!

  • Did they make any technical updates as well?

  
• 

  Kang-hoon

  • Yes, in February, Bithumb updated its mobile app to improve user experience.

  • They included improved security features such as biometric authentication, two-factor authentication, and code lock.

• Annie

  • That's impressive!

  • How did the other exchanges fare in this regard?

  
• 

  Kang-hoon

  • Coinone came next with 255 updates.

  • They celebrated their 10th anniversary in February and unveiled keywords like 'investor protection' and 'blockchain innovation' to guide their next decade.

• Annie

  • Coinone seems to be planning for the long term.

  • What about Gopax and Korbit?

  
• 

  Kang-hoon

  • Gopax and Korbit followed in fourth and fifth place with 140 and 133 cases, respectively.

  • Overall, the number of posts related to investor protection on the five exchanges increased by 27.11% compared to the same period last year.

• Annie

  • That's a significant increase!

  • What does this mean for the industry?

  
• 

  Kang-hoon

  • It indicates that the industry is making concerted efforts to protect investors' assets.

  • However, we must remain cautious as the effectiveness of these measures will be tested over time.

• Annie

  • True.

  • Do you think this news is good or bad for investors?

  
• 

  Kang-hoon

  • In the short term, I would say it's a mixed bag.

  • While the increased focus on investor protection is commendable, the delisting of altcoins and the need for constant updates may create uncertainty and volatility in the market.

  • 

  • Therefore, I would consider this news more of a challenge than a clear positive.

• Annie

  • Got it.

  • Thanks for the detailed explanation, Kang-hoon!🙏

  
• 

  Kang-hoon

  • Upon comprehensive consideration, this news is perceived as a 😱Bearish.