Summary
- CEO Joo Ki-Young stated that domestic assets lack attractiveness and that national wealth is being drained due to the skyrocketing exchange rate.
- He reported that the exchange rate of USDT traded on Upbit has reached IMF levels and that wealthy individuals are leaving Korea.
- CEO Joo emphasized that the government needs policies that allow capital to return naturally rather than forcibly blocking the flow of capital going abroad.
Joo Ki-Young, CEO of the on-chain analysis platform CryptoQuant, has expressed criticism regarding the domestic industry and economic situation.
On the 19th, CEO Joo Ki-Young lamented on his X (Twitter), "Korean won and domestic assets are not attractive at all. This is because the government failed to grasp the situation and only forcibly defended the won's price. As a result, the exchange rate is also skyrocketing."
He added, "The USDT traded on Upbit has already reached an IMF-level exchange rate, and I believe a massive outflow of national wealth is occurring. Many wealthy individuals I know are leaving Korea. I think the outflow of national wealth reflects the country's metacognitive ability as a report card."
He also emphasized that the government's response needs to change. He stated, "The government should not forcibly hold onto capital going abroad but should think about making it return on its own. Unnecessary regulations should not be prioritized. Now I am also considering whether I should leave Korea."
YM Lee
20min@bloomingbit.ioCrypto Chatterbox_ tlg@Bloomingbit_YMLEE
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