Samsung units to buy $408 million stake in South Korea’s biggest crypto exchange
Samsung's three affiliates will acquire a 4% stake in Dunamu, operator of South Korea's largest crypto exchange Upbit, for $408 million from Kakao. The deal, completing June 19, follows Kakao's $1.5 billion equity sell-off in under a month. Samsung has actively invested in crypto since launching its digital wallet in 2019, signaling major Korean conglomerate confidence in the sector despite current bearish market conditions.
Key takeaways
- 1Samsung's three affiliates are buying 4% stake in Dunamu (Upbit operator) for $408 million, completing June 19, 2026.
- 2Kakao has divested $1.5 billion in Dunamu equity within one month to Samsung, Hana Bank, and Hanwha Securities.
- 3Samsung remains actively invested in crypto since launching its digital wallet in 2019, despite bearish market conditions.
Coins in this story
Why it matters
This signals strong institutional confidence in South Korea's crypto infrastructure from the nation's largest conglomerate, potentially stabilizing the sector amid global bearish sentiment. For Indian investors, it demonstrates how major corporations are hedging crypto exposure through strategic equity stakes rather than abandoning the sector entirely.
Explore how AI Agents is shaping crypto markets — aggregated stories, leading coins, and weekly momentum.
Explore narrativeRelated stories
Crypto slides on Hormuz airstrikes as $897 million in long liquidations pile up
Bitcoin fell to April lows below $73,400 and Ether dropped below $2,000 after U.S. airstrikes in the Strait of Hormuz triggered inflation concerns and risk-off sentiment. Nearly $898 million in leveraged long positions liquidated in 24 hours. Ether's record open interest amid price weakness signals traders adding shorts. Eight billion in options expire Friday with bitcoin's max pain at $75,000.
White House reviews CFTC prediction-market rule as Trump backs federal control
The White House is reviewing a CFTC proposal to establish federal oversight of prediction-market platforms like Kalshi and Polymarket. Trump has backed CFTC exclusive authority over event contracts tied to elections and sports, countering state arguments that these function as illegal betting. The regulatory move signals a broader federal framework emerging after months of legal disputes over prediction markets.
Diverging trends: Ether slides below $2,000 while futures open interest hits record high of 16 million ETH
Ether dropped below $2,000 for the first time since March amid heavy selling pressure, losing nearly 8% weekly. Yet futures open interest hit a record 16.39 million ETH, signaling aggressive leveraged shorting. U.S. spot ETF outflows and Ethereum Foundation departures reflect deteriorating sentiment despite the network's developer activity strength. Market doubts whether Ethereum's infrastructure dominance translates to ETH token value.