QCP Group, a Singapore-based digital asset trading and investment firm, is rapidly scaling up its international presence after a year of significant growth. The company announced Wednesday that it has increased its workforce by 50% year-over-year and opened five new offices across Asia, the Middle East, and the United States.

QCP now employs 157 people worldwide, up from about 105 a year ago.

New Offices Across Multiple Regions

As part of its global expansion strategy, QCP has opened offices in:

• New York
• Abu Dhabi
• Kuala Lumpur
• Ho Chi Minh City

The company has also moved its Singapore headquarters into a larger space in Prudential Tower to accommodate its growing team.

QCP says the expansion is driven by rising institutional demand for digital asset trading, derivatives, and treasury solutions. Of the firm’s 157 employees, 119 are based in Singapore, reinforcing the country’s role as QCP’s primary operational base.

Regulatory Milestones Strengthen Middle East Presence

The opening of the Abu Dhabi office follows QCP’s approval from the Financial Services Regulatory Authority (FSRA) at Abu Dhabi Global Market (ADGM), where the company secured a Financial Services Permission (FSP) earlier this year.

This license allows QCP to provide regulated digital asset services—an important milestone as the firm deepens its footprint in the Middle East’s fast-growing crypto sector.

QCP also holds a Major Payment Institution (MPI) license in Singapore, giving it the ability to offer regulated digital payment token services locally.

Strategic Growth in Southeast Asia and the U.S.

The new Kuala Lumpur and Ho Chi Minh City offices expand QCP’s reach in Southeast Asia—one of the most rapidly growing regions for digital asset adoption.

Meanwhile, the company’s new office in New York, the world’s largest financial market, marks a major step in its U.S. expansion strategy.

From Regional Player to Global Derivatives Leader

Founded in 2017, QCP has grown into one of Asia’s most active players in crypto derivatives and structured products, serving hedge funds, corporates, trading desks, and high-net-worth clients.

With its expanded global team, the firm says it plans to accelerate product development and provide deeper coverage across international time zones.

QCP’s rapid growth comes as institutional interest in digital assets continues to surge worldwide—positioning the firm to compete across the world’s top financial hubs.

If you’re a MERL holder or an active trader on Bithumb, here’s an important update you don’t want to miss.
South Korea’s top crypto exchange, Bithumb, has paused all MERL deposits and withdrawals as of 4:55 a.m. UTC today. This temporary suspension is part of a planned network upgrade for Merlin Chain, and while it may disrupt activity in the short term, it’s ultimately geared toward strengthening the ecosystem.

Why Did Bithumb Pause MERL Activity?

This suspension is directly tied to Merlin Chain’s ongoing network upgrade—a critical step that enhances the blockchain’s performance, security, and overall functionality.

Pausing deposits and withdrawals during upgrades helps ensure:

• A smooth and error-free transition
• Protection of user funds
• Prevention of failed or stuck transactions
• Proper integration of new features and improvements

In other words, this is Bithumb making sure everything updates safely and cleanly.

How Does This Affect MERL Users on Bithumb?

Here’s what the temporary suspension means for you:

• Deposits: Not allowed during the upgrade
• Withdrawals: Also unavailable until the upgrade is complete
• Trading: Still fully functional—you can trade MERL as usual
• Your MERL Holdings: Safe and unaffected in your Bithumb wallet

So while you can’t move tokens in or out, you can continue trading them on the exchange without any interruptions.

When Will MERL Services Return to Normal?

Bithumb hasn’t shared an exact completion time yet. Network upgrades can take anywhere from a few hours to a few days, depending on the complexity.

To stay updated, keep an eye on Bithumb’s:

• Official website
• Social media channels
• Email alerts
• Mobile app notifications

They’ll announce the moment the upgrade—and the suspension—has officially wrapped up.

Why Network Upgrades Are Good News for MERL Holders

Although temporary service pauses can be inconvenient, they typically lead to meaningful improvements. This upgrade is expected to boost:

• Transaction speed and efficiency
• Security against exploits and vulnerabilities
• Scalability for future growth
• Overall functionality and ecosystem reliability

Long-term, these upgrades are designed to make MERL stronger, more secure, and more capable of handling increased demand.

Tips for MERL Traders During the Suspension

While deposits and withdrawals are on hold, traders can still make the most of this time:

• Keep an eye on MERL price movements
• Plan your next trades in advance
• Read up on what this network upgrade includes
• Adjust your trading strategies if needed
• Watch for the official announcement on service resumption

This pause highlights Bithumb’s commitment to secure, reliable operations—and shows strong coordination between the exchange and the Merlin Chain development team.

Frequently Asked Questions

How long will the suspension last?
No exact timeline yet. Upgrades usually take several hours to several days. Bithumb will announce when everything is back online.

Can I still trade MERL?
Yes. Trading is unaffected—only deposits and withdrawals are paused.

Are my MERL tokens safe?
Absolutely. Your tokens remain securely in your Bithumb wallet throughout the suspension.

Why do exchanges pause services during upgrades?
To prevent errors, protect user funds, and ensure the network upgrade integrates smoothly.

Will this affect MERL’s price?
Short-term fluctuations are possible, but upgrades often support long-term value by improving the network.

How will I know when services resume?
Keep an eye on Bithumb’s announcements via their website, social media, app notifications, and email.

Solana is showing its first real signs of a rebound as it retests a major downtrend that has held the price down since late October. If the current momentum continues, analysts say SOL could climb into the $170+ recovery zone—a potential 25% bounce from current levels.
At the time of writing, Solana trades around $137.

SOL Retests the Trendline as a Recovery Pattern Forms

On the 2-hour chart, Solana has been moving in a clear downward structure, forming consistent lower highs and lower lows throughout late November. After hitting a mid-November bottom, the price began pushing upward toward the descending trendline.

This time, the test is different:

• SOL is printing higher lows,
  
• upward momentum is steady,
  
• and price remains securely above recent support levels.
  

Analyst Captain Faibik notes that Solana’s recovery zone sits just above $170. His chart shows a clean potential move from the $135 area into this zone—roughly a 25% rally if the structure holds. The market continues to trade above its recovery base with each swing showing clear technical rhythm.

Another analyst, Daan Crypto Trades, points out that Solana is sitting right on high-timeframe support.
He adds:

“If it can get back above $145, the next target is $155.”

His chart highlights a strong support zone around $130, where buyers previously stepped in. The visible range data also shows heavy market activity between $140 and $165, suggesting SOL is entering a zone that historically attracts attention.

ETF Inflows Strengthen the Bullish Case

Solana’s ETF landscape is also helping support the price.
Spot Solana ETFs saw $58 million in inflows on November 24, marking 20 straight days of gains—the longest streak for any major crypto ETF in 2025. Total inflows now sit at $568 million since the ETFs launched in late October, according to SoSoValue.

Bitwise led the recent push with $39.5 million added, while Franklin Templeton expanded its crypto index fund to include Solana. An SEC filing confirmed the update, which takes effect on December 1, 2025.

The trend continued on November 25, with another $53.08 million in ETF inflows.

Outlook: A +25% Recovery Still in Play

SOL remains above key support levels as it moves toward the $155 resistance area, which analysts see as the next major hurdle. With strong ETF inflows, supportive technical structure, and improving market sentiment, the setup for a move toward $170 and beyond remains intact.