Doohyun Hwang

US Stocks Fall on Consumer Slowdown Fears; Sandisk Jumps Another 7.39%

U.S. stocks closed lower on Aug. 14 as mounting concerns over a slowdown in consumer spending weighed on sentiment. The Dow Jones Industrial Average fell 107.58 points, or 0.2%, to 53,732.41 on the New York Stock Exchange. The S&P 500 dropped 13.23 p

Binance Research Says Gen Z Favors ETFs, Trades Less Frequently Than Older Investors

Binance Research found that Gen Z investors favor exchange-traded funds and trade less frequently than older generations. Cointelegraph reported on August 14 that Binance Research published a report comparing platform trading data for Gen Z, millenni

AI Pays Better Than Bitcoin as US Miners Pivot to Data Centers

U.S. Bitcoin miners are rapidly shifting into artificial intelligence and high-performance computing data centers as falling Bitcoin prices and tougher mining economics erode profitability, while demand from AI companies for data centers and power su

EU Starts MiCA Review, Raising Prospect of Easier Stablecoin Rules

The European Union is starting a review of stablecoin provisions in its Markets in Crypto-Assets regulation, known as MiCA. Bitcoin.com reported on August 7 that the European Commission is considering changes to the MiCA framework to address problems

Reuters: Deal to Reopen Strait of Hormuz Is Near

Talks to reopen the Strait of Hormuz, a critical global oil shipping lane closed during the war between the US and Iran, are close to an agreement, Reuters reported. Reuters, citing a US government official on August 7, reported that negotiations to

Bitcoin, Ether Alone Draw Spot ETF Inflows as Altcoin Funds Go Nowhere

Bitcoin and Ether were the only two assets to attract fresh money across the U.S.-listed spot cryptocurrency exchange-traded fund market. Data from SoSoValue for Aug. 7 showed Bitcoin and Ether were the only assets to post daily net inflows in the U.

US Spot Ethereum ETFs Log $49.6 Million of Net Inflows in One Day

US-listed spot Ethereum exchange-traded funds posted net inflows for a fourth straight trading day. Data from SoSoValue showed the group of US spot Ethereum ETFs drew a combined $49.6 million in net inflows on Aug. 7. Cumulative net inflows into the

US Spot-Bitcoin ETFs Post $98.85 Million of Net Inflows

US-listed spot-Bitcoin exchange-traded funds recorded nearly $100 million of net inflows. Data from SoSoValue showed US spot-Bitcoin ETFs posted net inflows of $98.85 million on August 7. Cumulative net inflows for the category reached $52.18 billion

XRP Ledger Seeks Validator Approval for Institutional ‘Confidential Transfers’ Feature

XRP Ledger has put to a validator vote a new feature that would encrypt balances and transaction amounts for institutional investors. Ripple released XRPL version 3.3.0 this week, CoinDesk reported on August 7. The update includes six amendments, wit

BofA Reiterates Buy on SanDisk, Keeps $2,500 Target With 85% Upside

Bank of America reiterated its buy rating and $2,500 price target on memory-chip maker SanDisk following the company’s latest earnings report. TheStreet reported on August 7 that BofA sees about 85% upside from the stock’s current price. The bank sai

Microsoft Warns of New Attack Using BNB Smart Chain

Microsoft Threat Intelligence has identified compromised websites using a blockchain network to deliver malware commands, Wu Blockchain reported on August 7. Hackers used a technique known as "EtherHiding." It retrieves malicious instructions hidden

Korean Retail Investors Snap Up More Than $450 Million of Amazon, Micron, SanDisk in Four-Day Buying Spree

Korean retail investors shift to individual tech stocks Amazon leads net buying with $151.49 million from Aug. 3 to Aug. 6 Korean retail investors in US equities, often dubbed “Seohak ants,” have turned to individual technology stocks this month and

US Treasury Sanctions Crypto Exchanges Tied to Iran’s Revolutionary Guard

The US Treasury Department imposed sanctions on cryptocurrency exchanges that helped Iran’s Islamic Revolutionary Guard Corps launder money and evade sanctions. The Treasury’s Office of Foreign Assets Control announced on Aug. 7 that it had sanctione

SharpLink CEO Criticizes Ethereum’s EIP-8363 Proposal as Harmful to DeFi

Joseph Chalom, chief executive officer of SharpLink, has formally opposed a new Ethereum improvement proposal, EIP-8363, that would gradually burn validator rewards to curb staking on the network. In a post on X on Aug. 7, Chalom wrote that the propo

South Korea to Start Crypto Tax in January With 22% Levy Above $1,800 and No Break for Long-Term Holders

Crypto tax to begin in January Flat 22% levy on gains above $1,800 regardless of holding period US and other markets offer tax breaks or exemptions for long-term holdings South Korea to bar loss carryforwards Investors may owe tax even after only rec

This Week’s Key Economic and Crypto Events: US July Payrolls, Unemployment Rate in Focus

<Major economic events this week> ▶︎Monday, Aug. 3: △ US final July manufacturing Purchasing Managers’ Index (10:45 p.m. Korea time) △ US July Institute for Supply Management manufacturing PMI (11 p.m. Korea time) △ US June construction spending (11

Global Crypto Card Payments Surpass $705.5 Million, Set Record for Fifth Straight Month

Global cryptocurrency card payments rose to a record high even as the broader digital-asset market remained rangebound. Data from Paymentscan showed global crypto card payment volume reached $705.5 million in July, up 12.2% from the previous month. T

Trump Media Transfers $205 Million of Bitcoin to Crypto.com

Trump Media & Technology Group transferred about $205 million of Bitcoin to Crypto.com, according to on-chain data, fueling speculation that the company may be preparing a large sale. Data from Arkham Intelligence showed on August 1 that a wallet lin

Bitcoin Active Addresses Top 1 Million in a Day After Coldcard Hack

Bitcoin active addresses surged as investor anxiety spread after the recent hack involving hardware wallet maker Coldcard. Julio Moreno, CryptoQuant's head of research, wrote on X on Aug. 1 that people appeared to have moved large amounts of Bitcoin

Galaxy Research Says Coldcard Addresses Created Since March 2021 Are at Risk

Bitcoin thefts tied to an entropy flaw in the Coldcard hardware wallet are ongoing, Galaxy Research said. Alex Thorn, Galaxy Research's head of research, wrote on X on August 1 that "an active sweep attack is underway against all single-signature Col

Stablecoin Outflows From South Korean Exchanges Persist in Crypto Slump, June Net Outflows Reach $367 Million

Stablecoin transfers from South Korean exchanges to offshore platforms continued at several hundred billion won a month despite the broader slump in the crypto market. Data submitted by the Financial Supervisory Service to Lee Jong-wook, a People Pow

Trump Says He Canceled Iran Strike, Demands Hormuz Reopen and Nuclear Threat End

President Donald Trump said he had canceled planned military strikes on Iran on the condition that Tehran quickly reach an agreement with the US. The move appeared aimed at pressing for a last-minute deal as tensions approached open conflict. Writing

Coldcard Hack Losses Top 1,359 BTC, Erasing About $85 Million

More than 1,359 Bitcoin has been stolen in a hack tied to hardware wallet maker Coldcard, according to on-chain data. As losses mounted, Binance co-founder Changpeng Zhao urged users of vulnerable wallets to act immediately. On-chain tallies on Aug.

Saylor Says Strategy Never Promised to Hold Bitcoin Forever, Expects to Stay Net Buyer

Michael Saylor, chairman of Strategy, pushed back on claims that the company had reversed an earlier position against selling Bitcoin. Any sale is merely an option for treasury management and does not change its long-term accumulation strategy, he wr

Bitcoin Spot ETFs Lose $265.4 Million as Ether, XRP Funds Attract Inflows

Fund flows split sharply between Bitcoin and major altcoins in the U.S. spot cryptocurrency ETF market. SoSoValue data for July 31 showed heavy outflows from Bitcoin, while spot ETFs tied to major altcoins including Ether and XRP posted modest inflow

US Spot Ether ETFs Draw $9.03 Million of Net Inflows

US-listed spot Ether exchange-traded funds posted net inflows. The 11 US-listed spot Ether ETFs recorded combined net inflows of $9.03 million on July 31, according to SoSoValue. BlackRock's ETHB led the gains with $15.38 million of net inflows in a

US Spot-Bitcoin ETFs See $265.37 Million in Net Outflows

U.S. spot-Bitcoin exchange-traded funds posted more than $260 million in net outflows. The 13 U.S.-listed spot-Bitcoin ETFs recorded combined net outflows of $265.37 million on Aug. 31, according to crypto data platform SoSoValue. BlackRock's IBIT le

Bitmine-Linked Wallet Buys Additional $19.5 Million of Ether

A wallet believed to be linked to Bitmine has apparently bought more Ether. Data from Onchain Lens on July 31 showed an address identified as a Bitmine-related wallet purchased 10,460 Ether through FalconX, an institutional crypto brokerage. The tran

OpenAI Finds More AI ‘Escape’ Incidents in Internal Review After Hugging Face Breach

OpenAI has uncovered additional incidents resembling a recent case in which an autonomous AI agent escaped a virtual environment and attacked a third-party system, according to people familiar with the matter. Reuters reported on August 31 that OpenA

Minnesota to Ban Crypto ATMs Statewide From Aug. 1

Minnesota's new law banning cryptocurrency automated teller machines statewide will take effect on Aug. 1. All crypto ATMs in the state must cease operations immediately that day, CBS News reported on July 31. The machines must also be removed from s