China News by Thebittimes.Com

South Korea’s stock exchange halted trading for 20 minutes yesterday as the country’s KOSPI index fell more than 8% in a single day. Since its June peak, its drawdown now exceeds 40%, worth more than $2 trillion in market capitalization. Followed domestically the same way US investors follow the S&P 500 index, KOSPI’s rout has downranked South Korea’s AI-focused stock market from sixth to 10th among the world’s countries. For scale, the loss tops South Korea’s entire annual economic output of about $1.9 trillion in 2025. It also exceeds the value of every BTC in existence, about $1.6 trillion. Concerningly, KOSPI’s loss exceeds the assets of South Korea’s National Pension Service , the world’s third-largest retirement fund holding about $1.3 trillion worth of savings that have obviously shrunk alongside the stock market. The recent loss tops South Korea’s entire annual economic output of about $1.9 trillion in 2025. KOSPI closed yesterday at 5,554, down ...

General Dynamics’ largest shareholder, a family office that first acquired shares in the massive US defense contractor in 1959, has slashed its stake by nearly $1 billion and was responsible for 9.6% of all General Dynamics stock that traded during the month of September. Those sales have cut its stake in the $89 billion military equipment provider by approximately 10% since August 26. Manager of the Henry Crown family fortune, Longview Asset Management, sold roughly one out of every 10 General Dynamics shares that traded last month: 2,638,137 shares of September’s 27,591,000 in total volume. Longview’s filings with the SEC show the fund dropping its stake from 27,096,788 shares of GD, General Dynamics’ NYSE-listed common stock, as of August 26, to 24,388,917 by October 1. The timing has been brutal. General Dynamics has declined 13% since August 26, making the selling only more conspicuous, especially when broad indices like the S&P 500 have actually ra...

Cardano’s (ADA) recent price surge is running into fresh headwinds from fading trader interest and large-holder exits. Futures open interest for ADA has dropped 9% over the past week, sliding from $1.99 billion to $1.81 billion as traders cut back on leveraged bets, says Ali Charts on X. Whales also appear to be taking profits. “Since September 20, large holders have offloaded roughly 90 million ADA, worth approximately $22.5 million, adding to the recent selling pressure.” This decline in demand aligns with a Tom DeMark Sequential sell signal that appeared on Cardano’s daily chart. “Since then, ADA has fallen 10%, and the correction may not be over yet.” According to the analyst, a parallel channel on the daily chart points to $0.24 as the key mid-range support. “If ADA loses that level, a move toward the channel’s lower boundary near $0.21 becomes likely.” Source: Ali Charts/X If $0.21 holds, it could present the next buying...

Bitget cryptocurrency exchange has released a timeline for restoring withdrawals after a security breach led to the unauthorized transfer of between $350 million and $387.5 million from its hot and warm wallets. The exchange said the incident, detected on September 24, has been contained and the vulnerability responsible for the attack has been fixed.  According to Bitget, user balances remain unaffected and are backed by its User Protection Fund, which holds more than $464 million in publicly verifiable assets. The breach was identified at 18:31 UTC on September 24 after Bitget’s security systems detected unusual outflows.  Investigators found that attackers gained access to a critical backend component within the exchange’s wallet infrastructure and used spoofed transaction data to trigger legitimate authorization processes. Bitget stated that private keys were not compromised and that its cold wallet reserves remained secure throughout t...

BlackRock accumulated more than $120 million worth of Bitcoin (BTC) through its iShares Bitcoin Trust (IBIT) over the latest trading week. Data from spot Bitcoin ETF flows show the world’s largest asset manager recorded net inflows of approximately $120.6 million between September 14 and September 18. The fund attracted $134.3 million on September 14, suffered outflows on September 15 and 16, then rebounded with inflows of $183.7 million and $108.4 million during the final two sessions of the week. Bitcoin spot ETF ouflow/inflow. Source: CoinGlass The weekly inflow came as the leading cryptocurrency reclaimed the $80,000 level after a turbulent period marked by rising Treasury yields, inflation concerns, and a Federal Reserve rate hike. Bitcoin traded above $80,500 on September 18, extending a recovery that followed heavy ETF redemptions earlier in the week. ETF market swings  While BlackRock emerged as a net buyer, the broader spot Bitcoin ETF ma...

Ripple is approaching its 10th scheduled XRP escrow unlock of 2026, with 1 billion XRP set to be released on October 1. The event is now less than three weeks away and will continue a monthly process that has been in place since Ripple introduced its escrow program in 2017.  The upcoming release follows nine previous XRP unlocks this year. On September 1, Ripple unlocked 1 billion XRP through three separate escrow transactions, continuing a schedule that has remained largely unchanged for years. Ripple’s XRP escrow system is designed to provide transparency over its token holdings. Up to 1 billion XRP is unlocked on the first day of each month, but Ripple typically does not release the full amount into circulation. Instead, it has historically returned most of the unlocked tokens to new escrow contracts. Following the September release, approximately 31.28 billion XRP remained locked in escrow. Subsequent re-escrow transactions pushed the balance back to ...