JOON HYOUNG LEE

Analysis: Institutional Money Returns to Bitcoin as Ethereum Lags in Regaining Trust

Institutional money is flowing back into Bitcoin, while inflows into Ethereum remain sluggish, according to a CryptoQuant analysis. MorenoDV, a CryptoQuant contributor, wrote on May 8 that institutional capital is returning to crypto, but not evenly

Coinbase Hit by Service Outage After AWS Data Center Overheats, Trading to Resume Soon

U.S. cryptocurrency exchange Coinbase suffered a service outage. Odaily and other outlets reported on May 8 that the disruption was caused by an overheating problem at an Amazon Web Services data center. Coinbase's trading service will initially resu

Coinbase Says Clarity Act Can Pass Congress by Summer, Urges Banks to Accept Stablecoin Compromise

Coinbase said the crypto market structure bill known as the Clarity Act can pass Congress this summer. Paul Grewal, Coinbase’s chief legal officer, told The Block on May 6 that he is confident the Clarity Act will be passed by the end of the summer a

Trump Says Iran Deal Could Be Reached Before China Trip Next Week

President Donald Trump said on May 6 that an agreement related to ending the war with Iran could be reached before his May 14-15 trip to China. In a phone interview with US public broadcaster PBS, Trump said he felt the two sides were getting close t

Hut 8 Signs $9.8 Billion AI Data Center Lease, Shares Jump More Than 30%

U.S. Bitcoin miner Hut 8 has signed a $9.8 billion lease agreement for an artificial intelligence data center, sending its shares up more than 30%. The Block reported on May 6 that Hut 8 announced the AI data center lease agreement earlier in the day

Zcash Jumps 37%, Triggering $62 Million in Liquidations in a Day

Zcash surged, triggering $62 million of liquidations in the futures market over the past 24 hours. CoinDesk, citing CoinGecko data, reported on May 6 that the jump in Zcash prices wiped out $62 million in positions over the past day. About $60 millio

Morgan Stanley’s E-Trade Launches Crypto Trading Service, Escalating Fee Competition

E-Trade, the brokerage owned by Morgan Stanley, has launched a cryptocurrency trading service. Bloomberg reported on May 6 that E-Trade recently introduced a pilot service for crypto trading. The brokerage plans to expand the offering to all 8.6 mill

Iran Says It Is Reviewing US Proposal to End War, Plans Response Via Pakistan

Iran said it is still reviewing a US proposal related to ending the war. Iranian Foreign Ministry spokesman Esmaeil Baghaei told the semi-official ISNA news agency on May 6 that the proposal "is still under review." Iran plans to convey its position

US April ADP Private Payrolls Rise 109,000, Most Since January 2025

U.S. private-sector job growth accelerated in April to its strongest pace in the past year and four months. ADP's employment report released on May 6 showed private nonfarm payrolls rose by 109,000 from the previous month. That was the biggest increa

Trump Says ‘Epic Fury’ Would End if Iran Complies, Threatens Bombing if It Doesn’t

President Donald Trump said the US would begin large-scale bombing if Iran does not agree to carry out its commitments under a deal. Writing on Truth Social on May 6, Trump said the US military operation against Iran known as “Epic Fury” would end if

Multicoin Capital Makes Big Zcash Bet as Token Jumps 37%

U.S. crypto venture capital firm Multicoin Capital has made a large investment in Zcash, the privacy-focused cryptocurrency. Tushar Jain, Multicoin Capital's co-founder and managing partner, said at Consensus Miami on May 6 that the firm had recently

Brent Falls Below $100 for First Time in Two Weeks on Report of Imminent US-Iran War Deal

International oil prices fell after reports said the US and Iran were close to a deal to end the war. Reuters reported on May 6 that Brent crude futures, the international benchmark, fell below $100 a barrel. It was the first time Brent had dropped b

Big Tech Stablecoin Tests Could Help Push Market to $4 Trillion by 2030, Bitwise Says

A string of stablecoin experiments by big tech companies could help drive the market to $4 trillion by 2030, according to Bitwise. Matt Hougan, the asset manager’s chief investment officer, wrote in a May 5 investor memo that large technology compani

Bitcoin Tops $82,000; Kimchi Premium at 1.05%

Bitcoin rose above $82,000. According to CoinMarketCap, Bitcoin was trading at $82,019.96 as of 6:42 p.m. in Korea on May 6, up 1.78% from a day earlier. It was up 6.2% from a week earlier. The kimchi premium remained in the 1% range. Cryprice data s

Axios Says US, Iran Near One-Page Memorandum to End War

The US and Iran are close to signing an agreement aimed at ending the war. Axios, citing multiple sources, reported on May 6 that Washington and Tehran are nearing a one-page memorandum that would establish a detailed framework for nuclear talks and

Taurus Secures Cyprus License to Expand Into EU Tokenized Securities Market

Crypto custody firm Taurus is stepping up its push into the European Union's tokenized securities market. Taurus received a MiFID II investment services license from the Cyprus Securities and Exchange Commission on May 6, CoinDesk reported. MiFID II

FalconX Partners With Kalshi to Supply Institutional Liquidity to Prediction Markets

FalconX, a US crypto prime brokerage, plans to provide liquidity to global prediction-market platform Kalshi. FalconX announced on its website on May 5 that it had entered into a partnership with Kalshi. The deal centers on expanding institutional ac

Korea Exchange Chief Says He Will Push to Introduce Crypto-Linked Derivatives

Jeong Eun-bo, chairman and chief executive officer of Korea Exchange, said he would push to introduce crypto-linked derivatives. At a ceremony in Busan on May 6 marking the 30th anniversary of the derivatives market, Jeong said he would actively purs

Bernstein Lifts AMD Price Target to $525 From $265 After Earnings Surprise

Bernstein nearly doubled its price target on Advanced Micro Devices Inc. after the chipmaker posted first-quarter results that topped market expectations. BlockBeats reported on May 6 that Bernstein raised its target on AMD to $525 from $265 and kept

Anchorage Launches AI Agent Banking Service, Sees Trillion-Dollar Market

Anchorage, a US crypto bank, is launching an artificial intelligence agent-based banking service. Chief Executive Officer Nathan McCauley announced the new service in a post on X. It is designed to let AI agents access traditional finance and crypto

FT: China State-Backed Fund Seeks DeepSeek Investment at $45 Billion Valuation

A Chinese state-backed investment fund is seeking to invest in domestic artificial intelligence startup DeepSeek at a valuation of $45 billion, the Financial Times reported. The newspaper reported on May 6 that the China Integrated Circuit Industry I

Coinbase Asset Management Launches Stablecoin-Based Credit Fund for Institutions

Coinbase Asset Management, the asset-management arm of US cryptocurrency exchange Coinbase, has launched a stablecoin-based credit fund for institutional investors. CoinDesk reported on April 30 that Coinbase Asset Management introduced the Coinbase

North Korea-Linked Hackers Behind 76% of Crypto Heists This Year, $6 Billion Stolen Since 2017

North Korea-linked hacking groups were behind 76% of cryptocurrency hacks worldwide so far this year, a new report found. CoinDesk reported on April 30 that blockchain analytics firm TRM Labs said North Korean hacking groups, including DPRK and Lazar

Gemini Wins CFTC Derivatives Clearing License in Expansion Milestone

Gemini, the US cryptocurrency exchange, has secured a derivatives clearing organization, or DCO, license from the Commodity Futures Trading Commission. The Block reported on April 30 that Gemini said its Olympus unit received the license that day. Th

Japan Conducts Dollar-Selling, Yen-Buying FX Intervention

Japan's foreign-exchange authorities appear to have intervened in the market by buying yen. Nikkei reported on April 30 that the Japanese government and the Bank of Japan conducted a foreign-exchange market intervention by buying yen and selling doll

Solana Launches Swiss Research Institute to Step Up EU Institutional Push

Solana has launched a research institute in Switzerland as it steps up efforts to engage financial institutions in the European Union. Cointelegraph reported on April 30 that Solana launched the Solana Research Institute, or SRI, in Switzerland that

Canadian Pension Fund AIMCo Buys 1.38 Million Strategy Shares Worth $220 Million

Alberta Investment Management Corp. (AIMCo), a Canadian pension fund manager, has bought about $220 million worth of Strategy shares. Wu Blockchain reported on April 30 that AIMCo disclosed it had acquired 1.38 million shares of Strategy. The stake i

US March Core PCE Price Index Rises 3.2%, Matching Estimates

The US core personal consumption expenditures price index matched market expectations in March. The Bureau of Economic Analysis said April 30 that the March core PCE price index rose 3.2% from a year earlier, in line with a 3.2% estimate compiled by

US Initial Jobless Claims Fall to 189,000, Far Below Forecast

US applications for unemployment benefits fell sharply last week, coming in well below market expectations. The Labor Department said April 30 that initial jobless claims totaled 189,000 last week. That was 24,000 below economists’ forecast of 213,00

ECB Holds Rates Steady, Says Inflation Pressures Are Intensifying

The European Central Bank left all three of its key policy rates unchanged at its monetary policy meeting on April 30. The ECB kept its deposit rate at 2.00%. The main refinancing rate remained at 2.15%, and the marginal lending facility stayed at 2.