Korbit Sells Off Crypto Holdings Amidst South Korea's Crypto Trading Volume Collapse

Korbit, a South Korean crypto exchange, has sold 15 Bitcoin and 60 Ethereum to raise approximately ₩1.6 billion ($1 million) for operating costs.

This sale is part of Korbit's third such transaction in 2026, with the previous two occurring in March and May.

The move comes as South Korea's crypto market faces a significant decline in trading volume, dropping by 89% year-over-year to around $305 million in July from $2.82 billion in the same period last year.