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Naver Financial to Acquire Upbit Operator Dunamu in $10.3 Billion Stock Swap
Naver Financial has announced a definitive plan to acquire Dunamu, the operator of the Upbit crypto exchange, in an all-stock transaction valued at approximately 15.1 trillion won ($10.3 billion).
Naver Financial, the financial services arm of Naver, announced its intention to acquire Dunamu, the operator of the largest cryptocurrency exchange in South Korea, Upbit. The definitive agreement, structured as an all-stock swap, is valued at approximately 15.1 trillion won, or $10.3 billion.
Naver Financial plans to issue $87.56 million in new shares to Dunamu shareholders, thereby making Dunamu a wholly owned subsidiary. The exchange ratio was determined using an external discounted cash-flow valuation, resulting in a final share exchange price ratio of $1:2.5422618$.
The transaction is contingent upon shareholder approval at general meetings scheduled for May 22, 2026, with the stock exchange set for June 30, 2026. Shareholders opposing the deal have appraisal rights, though the agreement specifies a termination clause if appraisal demands exceed $814 million at either company. Furthermore, the merger requires multiple regulatory clearances, including a business combination review by the Fair Trade Commission and compliance with financial information protection acts, highlighting potential remaining hurdles.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Spain’s Proposed 47% Crypto Tax: Key Details
The plan proposed by Sumar also seeks to classify all cryptocurrencies as seizable assets and require the introduction of a visual “risk traffic light” warning system for investors.
The left-wing Spanish political alliance Sumar is pushing for a significant tax increase on crypto profits. Critics called it an “attack against Bitcoin.”
Sumar has submitted amendments to overhaul three key tax laws: the General Tax Law, the Income Tax Law, and the Inheritance and Gift Tax Law.
The proposal aims to move cryptocurrency gains from the existing “savings rate” bracket to the “general income tax” bracket. This shift would raise the top tax rate on crypto profits from the current 30% to a maximum of 47%.
Apart from this, the plan sets a flat 30% tax rate for corporate entities holding cryptocurrencies.
The political platform also includes several controversial regulatory and legal measures. The proposal mandates the National Securities Market Commission (CNMV) to establish a “risk traffic light” system. It presupposes that a visual warning will be displayed on cryptocurrency investor platforms.
Another element seeks to classify all cryptocurrencies as attachable assets eligible for seizure. A legal expert, Cris Carrascosa, pointed out the difficulty of enforcing this, particularly for tokens like Tether’s USDT, which cannot be held by regulated custodians under the EU’s MiCA regulation.
Sumar currently holds 26 seats in Spain’s Congress of Deputies.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Solana Nears $140 Despite Market Slump: Will $53M in ETF Inflows Spark Breakout?
Solana (SOL) is showing resilience near the $140 mark, driven by exceptional institutional demand for its ETFs, even as the broader crypto market faces downward pressure.
Trading at approximately $136, Solana (SOL) has managed a 0.55% gain over the last 24 hours, positioning itself near the top of its recent trading channel, which ranges from $124.09 to $144.01. However, the token remains heavily discounted, down 31% over the past month and sitting more than 50% below its all-time high of $293 recorded in January.
Solana ETFs recorded a net inflow of $53.08 million on November 25 alone. Bitwise’s BSOL led the charge with a $30.9 million intake, followed by Grayscale’s GSOL ($15.9 million), Fidelity’s FSOL ($4.8 million), and VanEck’s VSOL ($1.33 million).
This strong demand marks the 21st consecutive day of positive inflows for Solana ETFs, which is the longest uninterrupted run seen by any major cryptocurrency ETF this year.
Total cumulative inflows have now soared to $621 million, showcasing a clear institutional preference for SOL, in stark contrast to the persistent outflows observed in both Bitcoin and Ethereum-based products.
Meanwhile, the institutional momentum surrounding Solana ETFs appears set for a significant acceleration. On November 25, investment giant Franklin Templeton filed Form 8-A with the Securities and Exchange Commission (SEC) to formally register the Franklin Solana ETF. This filing represents the crucial final procedural hurdle before the product can begin trading.
Market observers anticipate a swift listing, with the Franklin Solana ETF potentially launching on the NYSE Arca as early as today, November 26.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
South Africa’s Central Bank Warns on Crypto Assets and Stablecoins
This concern cited by the South African Reserve Bank is driven by the growing user base and the borderless nature of digital assets, which can be used to bypass Exchange Control Regulations.
The South African Reserve Bank (SARB) has issued a warning regarding digital assets and stablecoins and identified them as a new and growing risk to the nation’s financial stability. At the same time, the warning, contained in the central bank’s second financial stability report for 2025, highlights a significant increase in local adoption.
According to the revealed data, the three largest local crypto exchanges had a combined 7.8 million users as of July, with approximately $1.5 billion held in custody at the end of 2024. The SARB specifically cited the borderless nature of these assets as a concern, noting that they could be used to “circumvent the provisions of the Exchange Control Regulations,” which govern fund inflows and outflows.
Furthermore, the central bank pointed to a “structural shift” in the market, with USD-pegged stablecoins now being the preferred trading instrument over traditional crypto assets like Bitcoin and Ethereum. This shift is attributed to the notably lower price volatility of stablecoins. The SARB concluded that until an appropriate regulatory framework is established, the risks related to these types of assets present a threat to the financial system.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Filecoin Breaks $1.63 Barrier with 2% Gain on Strong Volume
The Filecoin (FIL) token rose 2% after clearing the $1.63 resistance level, with trading volume surging 135% above its 24-hour average, signaling renewed momentum in the layer-1 ecosystem.
The token for the decentralized storage network Filecoin surged approximately 2% in the past 24 hours, passing the $1.63 resistance level, while trading volume reached about 6.85 million tokens – roughly 135% higher than its 24-hour average of 3.51 million. This breakout occurred amid the heaviest three-day volume for FIL.
In the broader market context, FIL’s move coincides with strength in crypto markets overall, as altcoins gained and investor interest increased in layer-1 assets. The breakout above key resistance suggests renewed momentum in Filecoin’s ecosystem, where network effects and liquidity repositioning may play a role.
For market participants, the breakout holds significance as it may attract fresh liquidity into FIL and signal shifting sentiment toward storage-oriented Web3 protocols. Clearing long-standing resistance can enable improved price structure, enhanced adoption signals and potential acceleration of network activity – all of which are relevant for investors and observers of the layer-1 landscape.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.