Crypto Shakeup 2025: Major Delistings, Q1 Losses, and Top Exchange Rankings Revealed

Wemix Faces Delisting from Major South Korean Crypto Exchanges After Hacking Incident

Wemix, the cryptocurrency issued by Korean game publisher Wemade Co., is set to be delisted from all major domestic crypto exchanges in South Korea next month. This decision comes in the wake of a significant hacking incident, as reported by Yonhap News Agency. The Digital Asset eXchange Association (DAXA), which includes Upbit, Bithumb, Coinone, Korbit, and Gopax, announced that trading support for Wemix will end starting June 2. DAXA stated, "Based on a comprehensive review on reliability of the issuer and security standards, we have decided to terminate trading support as it does not meet the criteria."

The hacking incident occurred on February 28, when more than 8.65 million Wemix coins, valued at 9 billion won (US$6.38 million), were illicitly withdrawn from the company's server. Following the delisting announcement, the price of Wemix coins dropped sharply from 1,200 won (US$0.85) to 401 won. This is the second time Wemix has been removed from local exchanges, having previously been delisted in 2022 and reinstated the following year. Wemade has indicated plans to seek listings on global cryptocurrency platforms in response to this domestic setback.

• Wemix will be delisted from five major South Korean exchanges on June 2.
• The token's price fell by over 66% after the announcement.
• This marks the second delisting for Wemix in three years.

Source: Yonhap News Agency

"Based on a comprehensive review on reliability of the issuer and security standards, we have decided to terminate trading support as it does not meet the criteria." – DAXA Statement

Key Takeaway: The delisting of Wemix underscores the heightened scrutiny and security expectations for crypto issuers in South Korea, especially following major security breaches.

Major Crypto Firms Report Steep Q1 Losses Amid Market Volatility

Several leading crypto firms, including Strategy (formerly MicroStrategy), Riot Platforms, and Kraken, reported significant losses in the first quarter of 2025, according to CCN.com. The sector was hit hard by declining Bitcoin prices and overall market volatility. Strategy posted a net loss of $4.2 billion, its fifth consecutive quarterly loss, largely due to a $5.9 billion impairment on its Bitcoin holdings after BTC prices fell 25% in Q1.

Riot Platforms, a major U.S. Bitcoin miner, reported a net loss of $296.4 million, despite a 13% increase in quarterly revenue to $161.4 million and an 8% rise in Bitcoin holdings to 19,223 BTC. Kraken, meanwhile, saw gross revenue rise 19% year-over-year to $472 million and adjusted EBITDA increase 17% to $187.4 million, but experienced a $30 million revenue dip compared to Q4 2024 due to reduced trading activity.

• Strategy’s $5.9 billion impairment was due to a 25% drop in BTC prices.
• Riot’s gross profit rose to $73.6 million.
• April saw a sharp rebound: Bitcoin rose 15%, Strategy surged 31%, Coinbase 17%, MARA 16%, and Galaxy Digital 33%.

Source: CCN.com

"Bitcoin’s April outperformance, beating both gold (up 6.1%) and the Nasdaq (down 0.2%), has sparked renewed investor confidence." – CCN.com

Key Takeaway: Despite a brutal Q1, the crypto sector showed signs of recovery in April, with major firms and Bitcoin outperforming traditional assets.

Movement Token Hits All-Time Low After Coinbase Delisting Announcement

The MOVE token, native to the Ethereum layer-2 network Movement, crashed to an all-time low after Coinbase announced it would suspend trading for the token on May 15, 2025, as reported by Decrypt. The token dropped nearly 14% in a single day to $0.2079, marking its lowest price to date according to CoinGecko. The Movement token was launched in December alongside the project’s mainnet beta.

Coinbase stated, "We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we will suspend trading for Movement (MOVE) on May 15, 2025, on or around 2 PM ET." The delisting follows a controversy involving a market maker, Rentech, which allegedly sold 66 million MOVE tokens in December, profiting $38 million before being removed from Binance. Binance has frozen these profits for user compensation. The Movement Network Foundation plans to use these funds for a buyback program and to establish the Movement Strategic Reserve.

• Coinbase will suspend MOVE trading on May 15, 2025.
• MOVE price hit an all-time low after the announcement.
• Binance froze $38 million in profits from the market maker for user compensation.

Source: Decrypt

"We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we will suspend trading for Movement (MOVE) on May 15, 2025, on or around 2 PM ET." – Coinbase Statement

Key Takeaway: The Movement token’s price collapse highlights the risks of market manipulation and the impact of exchange delistings on emerging crypto projects.

Kraken Reports 19% Revenue Growth in Q1 as IPO Prospects Loom

Kraken, one of the oldest crypto exchanges, reported a 19% increase in gross revenue in the first quarter of 2025, reaching $471.7 million, according to Bloomberg.com. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) climbed 17% to $187.4 million from $160 million in the previous year. The company, officially known as Payward Inc., noted that this growth occurred despite increased volatility in the digital-asset market.

• Kraken’s revenue and adjusted earnings both rose in Q1 2025.
• The company is considered a candidate for an upcoming IPO.

Source: Bloomberg.com

Key Takeaway: Kraken’s strong Q1 performance and revenue growth position it as a leading candidate for a public offering, even amid market volatility.

Best Crypto Exchanges and Platforms for 2025: User Experience and Features

NerdWallet conducted an extensive review of over 20 crypto platforms and wallets, evaluating them across dozens of factors including fees, cryptocurrency selection, trading options, and customer service. The top exchanges for 2025 are Coinbase, Uphold, and Robinhood, each excelling in different categories. Coinbase is highlighted as the best for beginners, offering 280+ cryptocurrencies and a user-friendly interface, though its fees range from 0% to 3.99% and customer service can be difficult to reach.

Robinhood is praised for its $0 trading fees and ease of use, but offers only 25+ cryptocurrencies and limited crypto-to-crypto trading. Gemini is recommended for advanced traders, with 80+ cryptocurrencies and fees between 0.5% and 3.49%. Kraken stands out for its low fees (0.16%-5%), 350+ cryptocurrencies, and strong customer service. Crypto.com offers the largest selection with 400+ cryptocurrencies and fees from 0% to 2.99%, but has high withdrawal minimums. Fidelity Crypto and Interactive Brokers are best for those seeking basic exposure to crypto within traditional brokerage accounts.

• Coinbase is the best for beginners and offers a learn-to-earn program.
• Robinhood is best for easy USD trading but has limited crypto features.
• Kraken is praised for its low fees and wide selection.
• Crypto.com offers the largest selection but has high withdrawal minimums.

Source: NerdWallet

Key Takeaway: The best crypto exchange depends on user needs, with Coinbase, Kraken, and Crypto.com leading in user experience, selection, and features for 2025.

Sources:

• Wemix to be delisted from major crypto exchanges in S. Korea after hacking incident
• Crypto Firms Kraken, Riot and Strategy Show No Immunity in Brutal Q1
• Movement Plunges to All-Time Low After Coinbase Says It Will Delist Ethereum L2 Token
• IPO-Candidate Kraken Says Revenue Jumped 19% in First Quarter
• MEXC Marks 7th Anniversary With $300 Million Ecosystem Growth Fund
• We Tested Over a Dozen Crypto Apps: The Best Crypto Exchanges Right Now