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MARKETS DAILY: A North Korean Conspiracy and Top Hacks of 2019

This time we're talking crypto and traditional market, an ethereum developer in hot water after alleged sanction busting, and a look at this years biggest exchange hacks.

Updated Dec 11, 2022, 7:28 p.m. Published Dec 2, 2019, 4:58 p.m.
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Welcome to the CoinDesk Markets Daily Podcast, a 10-minute look at what's driving the crypto markets today. The podcast appears daily and we'd love you to subscribe with iTunes, Google Podcasts, or your favorite podcast apphttp://feeds.feedburner.com/MarketsDaily.

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On today’s episode:

Tune in as CoinDesk podcasts editor Adam B. Levine and senior markets reporter Brad Keoun run down recent action in the markets, interesting longer-term trends and some of the most important crypto industry developments of the day.

Any questions, comments or thoughts you'd like to share? Write to Markets Daily at [email protected]

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KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market

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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.

What to know:

  • KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
  • This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
  • Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
  • Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
  • Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.

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Here's what bitcoin bulls are saying as price remains stuck during global rally

Here's what bitcoin bulls are saying as price remains stuck during global rally

It's about a lot more than "zooming out." Supply overhangs and investor "muscle memory" regarding gold help explain bitcoin's poor absolute and relative performance.

What to know:

  • Bitcoin has failed so far to act as an inflation hedge or safe-haven asset, lagging badly behind gold, which has surged amid high inflation, wars, and interest rate uncertainty.
  • Crypto advocates argue that bitcoin’s weakness reflects a temporary supply overhang, investor “muscle memory” favoring familiar precious metals and its correlation with risk assets, rather than a collapse in long-term demand.
  • Many bitcoin proponents still see BTC as a superior long-term store of value and “digital gold,” predicting that, once traditional hard assets are overbought, capital will rotate into bitcoin, allowing it to “catch up” to gold.