On Dec. 2, Japanese cryptocurrency exchange DMM Bitcoin said it had raised about 55 billion yen ($365.10 million) in June through various funding schemes. Specifically, on June 3, the company raised 5 billion yen ($33.20 million) through borrowing; on June 7, the company raised 48 billion yen ($318.60 million) through a capital increase. The last funds arrived on June 10, when DMM Bitcoin received an additional 2 billion yen ($13.30 million) through subordinated borrowing. The official statement said that DMM Bitcoin plans to cease operations after completing the asset transfer to SBI VC Trade. SBI VC Trade announced on Monday that it plans to begin processing spot transactions of 14 cryptocurrencies currently traded on DMM Bitcoin before completing the custody asset transfer. This morning, DMM Bitcoin announced that it will cease operations. Due to the theft of 48.20 billion yen worth of bitcoin at the end of May this year, its services were limited, and the company gave up its attempt to restructure operations. The assets of customers hosted by DMM Bitcoin are expected to be transferred to SBIVC Trade, a cryptocurrency exchange owned by SBI Group, around March 2025. In May, DMM Bitcoin was hacked and 4,502.9 BTC was stolen, resulting in a loss of $305 million.