Suehyeon Lee

Kospi Surges 22% From July Low on AI Optimism, Nears Technical Bull Market

South Korean stocks rebounded sharply on recovering artificial-intelligence sentiment, leaving the Kospi on the verge of entering a technical bull market. On Aug. 13, the Kospi climbed as much as 4.8% intraday, extending its rebound from the July 30

South Korea’s FSC Restarts Digital Asset Framework Push, Targets September Bill

South Korea’s Financial Services Commission has resumed work on the Digital Asset Basic Act, the second phase of the country’s virtual-asset legislation, and is considering having the government draft introduced as a lawmaker-sponsored bill. The FSC

Zerohash’s OCC Trust Bank Charter Application Returned, Refiling Planned

Zerohash, a digital-asset infrastructure provider to traditional financial firms including Morgan Stanley’s E-Trade, has failed to obtain a US federal trust bank charter. CoinDesk reported on August 12 that the Office of the Comptroller of the Curren

[Today’s Key Economic and Cryptocurrency Events] US July PPI Due

Key Economic Events for Today ▶ Aug. 13: U.K. preliminary second-quarter GDP (3 p.m. Korea Standard Time; 7 a.m. in the U.K.), U.S. July producer price index, or PPI (9:30 p.m. Korea Standard Time; 8:30 a.m. in the U.S.), and U.S. initial jobless cla

CFTC Says Many Prediction-Market Incentive Program Filings Are Deficient

The Commodity Futures Trading Commission has raised concerns about the way prediction-market platforms structure their incentive programs. CoinDesk reported on August 12 that the CFTC, in guidance released that day, said filings related to incentive

Hyperion DeFi Posts Record Q2 Net Income of $31 Million as HYPE Holdings Rise 87%

Hyperion DeFi, a digital-asset treasury company built on Hyperliquid, posted record quarterly results despite a downturn in the crypto market. The Block reported on Aug. 12 that Hyperion DeFi recorded net income of $31 million in the second quarter,

Oil Stays Firm as Hormuz Reopening Talks Stall; IEA Sees Deeper Supply Shortfall

Oil prices remained firm as markets waited for progress in negotiations to reopen the Strait of Hormuz. Bloomberg reported on August 12 that West Texas Intermediate traded below $83 a barrel. WTI slipped slightly after climbing about 11% over the pre

Hawaii to Ban Crypto ATMs, Kiosks From Oct. 1

Hawaii will ban the operation of cryptocurrency ATMs and kiosks starting Oct. 1. Cointelegraph reported on Aug. 12 that Hawaii Governor Josh Green signed House Bill 1642 in July. The measure prohibits the ownership, operation and management of digita

Yen Nears 160 Per Dollar Again, Raising Watch for More US-Japan FX Intervention

The yen is approaching 160 per dollar again, sharpening market focus on the possibility of another joint foreign-exchange intervention by the US and Japan. Bloomberg reported on August 12 that the yen traded at 159.43 per dollar in New York. The Japa

Blockchain Association Backs Custodia Supreme Court Appeal Over Fed Master Account

The Blockchain Association has publicly backed Custodia Bank, a digital-asset-focused lender, in its appeal to the U.S. Supreme Court. Eleanor Terrett, host of Crypto in America, reported on Aug. 12 that the association filed an amicus brief with the

SEC Issues No-Action Letter for Franklin Templeton’s OnChain Government Money Market Fund

The U.S. Securities and Exchange Commission has issued a no-action letter for Franklin Templeton’s OnChain U.S. Government Money Fund. Bloomberg ETF analyst James Seyffart said on Aug. 12 that the letter allows Franklin Templeton’s on-chain governmen

Samsung Electronics, SK Hynix Jump More Than 8% on Report Temasek Is Weighing Investment

Samsung Electronics Co. and SK Hynix Inc. jumped more than 8% after a report said Singapore state investor Temasek Holdings Pte. is reviewing potential investments in the two chipmakers. Bloomberg reported on August 12 that Samsung Electronics and SK

US Spot Ether ETFs See $1.7 Million of Net Outflows for Second Straight Session

US spot Ether exchange-traded funds logged net outflows for a second straight trading session. Farside Investors data showed US spot Ether ETFs posted combined net outflows of $1.7 million on August 11. Fidelity’s FETH led the withdrawals with $2.3 m

US Spot-Bitcoin ETFs Return to Net Inflows With $7.8 Million Added in a Day

US spot-Bitcoin exchange-traded funds returned to net inflows after one day. Farside Investors data showed the funds took in a combined $7.8 million on Aug. 11. That reversed the previous trading day's $144.6 million in net outflows. BlackRock's IBIT

South Korea Tax Agency Adds Crypto Tracking Programs, Upgrades AI Forensics in Evasion Crackdown

South Korea’s National Tax Service will strengthen its response to tax evasion involving virtual assets, or digital assets, including by adding more transaction-tracking programs. In an Aug. 12 tax administration plan centered on overhauling delinque

US-Japan Yen Defense Exposes Policy Split as Bessent Backs BOJ Hikes, Takaichi Prefers Easing

The US and Japan have jointly intervened in foreign-exchange markets to support the yen, but a policy gap over whether the Bank of Japan should raise interest rates is emerging as a key variable for the currency's stability. Bloomberg reported on Aug

BitMine Stakes $289.4 Million of Ether in a Week, Holds 4.8% of Supply

BitMine, led by Tom Lee, staked about $300 million worth of Ether over the past week. Arkham, a blockchain analytics platform, wrote on X on Aug. 12 that BitMine staked $289.4 million worth of ETH during the period. That brought BitMine’s staked ETH

Ravencoin Falls to Record Low After Consensus Vulnerability Exploit

Ravencoin fell to a record low after an exploit of a network consensus vulnerability. Cointelegraph reported on August 11 that RVN dropped to as low as $0.002754 during the session, an all-time low. That was about 22% below its 24-hour high of $0.003

CryptoQuant CEO Ki Young Ju Says Bitcoin Rally Is Futures-Driven, Needs Spot Demand to Last

Bitcoin’s recent advance is being driven by futures trading, and a sustained rally will require a recovery in spot demand, according to CryptoQuant CEO Ki Young Ju. Writing on X on August 11, Ju said Bitcoin is currently being led by the futures mark

BNY Mellon’s ‘Katsu Curry Index’ Puts Fair Dollar-Yen Rate at 62.18, Underscoring Yen Undervaluation

The yen appears deeply undervalued in the foreign-exchange market when measured against the price of katsu curry, a staple Japanese dish. Bloomberg reported on August 11 that Geoff Yu, chief strategist at BNY Mellon, created the “Katsu Curry Index” t

Samsung, SK Hynix Shareholder Return Hopes Emerge as New Catalyst for Memory Stocks

Expectations for bigger shareholder payouts from memory-chip makers including Samsung Electronics Co. and SK Hynix Inc. are emerging as a new driver for their stocks, Bloomberg reported. SK Hynix said on Aug. 7 that it plans to unveil a detailed shar

Strategy CEO Says Company Will Resume Bitcoin Purchases This Year After Sales Backlash

Strategy plans to resume buying Bitcoin this year, Chief Executive Officer Phong Le said. Le told Fox Business in an interview reported by Cointelegraph on Aug. 11 that the company would restart Bitcoin purchases before year-end. He said Strategy has

SEC, CFTC Sue Goliath Ventures, Founder Over Alleged $400 Million Crypto Ponzi Scheme

The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission have filed separate civil suits against Goliath Ventures and founder Christopher Delgado over an alleged $400 million cryptocurrency Ponzi scheme. Cointelegraph

Itaú Joins Brazil Capital-Markets Tokenization Pilot With OpenAssets

Itaú, Latin America's largest private bank, has joined a Brazilian pilot program for capital-markets tokenization. Cointelegraph reported on August 11 that Itaú will participate in the tokenization pilot led by ANBIMA, the Brazilian Financial and Cap

SEC Weighs Giving Companies Right to Challenge Third-Party Stock Token Listings

The U.S. Securities and Exchange Commission is weighing a plan that would let companies object to the listing of tokenized shares issued by third parties without the companies' consent. Bloomberg reported on Aug. 11 that the provision may be included

Hashed Open Research Says Won Stablecoins Need Settlement Rails, Digital ID to Compete in AI Payments

Won-backed stablecoins will need dedicated settlement rails and a digital identity verification system to remain competitive as the AI-driven "agent economy" takes shape, Hashed Open Research, or HOR, said on August 12. In a recent report titled "Str

Robinhood Chain Sets Record 11.6 Million Daily Transactions as TVL Surges 32%

Robinhood Chain set records for both daily transactions and total value locked. Crypto news outlet The Block reported on August 11 that the network averaged 11.6 million transactions a day last week, up about 30% from the previous week and the highes

Bitwise Cuts 14% of Staff as Crypto Slump Stretches Into 10th Month

Bitwise Asset Management cut 14% of its workforce as a prolonged downturn in the cryptocurrency market weighs on the industry. Bloomberg reported on August 11 that the San Francisco-based firm reduced its headcount to about 155 from roughly 180. Even

Aug. 12 Economic and Crypto Calendar: US July CPI, Aptos Token Unlock

Today's Key Economic Events ▶ Aug. 12 (Wednesday): South Korea's July unemployment rate (8 a.m. Korea Standard Time); Germany's July consumer price index (3 p.m. Korea Standard Time, 8 a.m. in Germany); US July consumer price index, or CPI (9:30 p.m.

Oil Rises for Fourth Straight Session as Traders Watch Hormuz Talks

Oil rose for a fourth consecutive session as traders watched negotiations over reopening the Strait of Hormuz. West Texas Intermediate traded above $83 a barrel on Aug. 11, according to Bloomberg. WTI has climbed about 11% over the past four sessions