All Articles 3,757
U.S. President Donald Trump raised the possibility of Iran’s surrender. According to Axios on the 13th (Korea time), President Trump claimed at a Group of Seven (G7) video conference that "Iran will soon surrender."
The U.S. Department of the Treasury has placed on its sanctions list individuals and entities that have financed North Korea through digital-asset transactions and other means. On the 13th (Korea time), the Treasury’s Office of Foreign Assets Control (OFAC) said it is designating six individuals and two entities for supporting overseas remote employment and money-laundering activities by North Korean IT personnel. The Treasury explained that they secured remote jobs at U.S. companies and then used money laundering to channel funds to North Korea’s weapons of mass destruction (WMD) programs. The designations also include brokers operating in North Korea, Vietnam, Laos and Spain who facilitated employment and the movement of funds for North Korean IT personnel. OFAC said it plans to continue working with allies to disrupt North Korea’s hard-currency-earning networks.
Singapore-based digital financial infrastructure firm Metacomp is reported to have attracted a major investment from global companies including Alibaba. According to The Block, a digital-asset industry outlet, on the 13th (Korea time) Metacomp said in a statement that it had raised $35 million in a recently completed pre-Series A funding round. Existing shareholders including Alibaba and Spark Venture reportedly participated in the round. Metacomp operates a “Web 2.5” platform that connects fiat-based payment systems with settlement infrastructure for stablecoins (digital assets pegged in value to fiat currencies). Metacomp processed transactions in 13 stablecoins over the course of 2025. Transaction volume was around $10 billion. The funding will be used to expand the StableX network. StableX is infrastructure that supports cross-border payments by using stablecoins together with traditional fiat currencies.
Macro indicators that could have a major impact on Bitcoin (BTC) prices are signaling a bottom, fueling expectations for a rebound. On the 13th (Korea time), digital-asset news outlet Cointelegraph, citing data from analyst “AO,” reported that “a macro indicator combining U.S. and Chinese 10-year government bond yields has recently generated a bullish crossover signal,” adding that “this signal has repeatedly appeared when the Bitcoin market has been reaching a bottom in the past.” The outlet added that the indicator showed similar signals at the onset of bull markets in 2013, 2017, 2020–2021 and 2023, and analyzed that “if Bitcoin rebounds from its long-term support line, it could climb to around $100,000 by August.” Meanwhile, as of 5:55 p.m. on the day, Bitcoin was trading at $71,872, up 2.84% from the previous day, according to CoinMarketCap.
The ‘Token 2049 Dubai’ summit—one of the world’s largest digital-asset events—has been postponed by a year amid rising tensions in the Middle East. According to WuBlockchain on the 13th (Korea time), the Token 2049 event that had been scheduled to take place in Dubai, United Arab Emirates (UAE), on April 29–30 has been rescheduled to April 21–22, 2027. In a notice sent to participants, organizers said they decided to postpone the event after carefully considering how the recent geopolitical situation could affect attendance and event operations. In fact, following Iran’s recent airstrikes on neighboring countries, some digital-asset industry participants are said to have left Dubai.
Chinese authorities strongly pushed back against the United States’ launch of an investigation under Section 301 of its trade law. On the 13th (Korea time), China’s Ministry of Commerce said in a statement on its official website, “We are aware that the United States has initiated a Section 301 investigation into 16 economic entities, including China, on the grounds of so-called ‘excess capacity’,” adding, “A Section 301 investigation is a typical act of unilateralism and seriously undermines the international economic and trade order.” It added that the World Trade Organization (WTO) has already ruled that tariff measures based on Section 301 investigations violate WTO rules.
A view has emerged that Bitcoin (BTC)’s weakness since the start of the year could serve as a leading indicator for global stock markets. According to digital-asset news outlet CoinDesk on the 13th (Korea time), Todd Stankiewicz, chief investment officer (CIO) at Psylon Capital, said, “Bitcoin has, on multiple occasions, peaked ahead of the S&P 500 and served as a leading indicator for equities,” adding that “after Bitcoin’s uptrend stalled first or it failed to notch fresh highs, stock markets also shifted into a downturn.” Examples cited by CIO Stankiewicz include late 2017, the COVID-19 crash, and late 2021. CoinDesk noted, “A similar pattern is also emerging in global capital markets recently,” and assessed that “after setting a new high of about $126,000 in October last year, Bitcoin turned lower and fell to around $60,000 in early last month.” It added, “Instability is also increasing across global financial markets,” saying that “Asian, European and U.S. equities are broadly coming under pressure due to factors such as the Iran war and rising oil prices.”
Official Trump (TRUMP) is surging intraday. Official Trump is US President Donald Trump’s official memecoin. As of 4:20 p.m. KST on the 13th, Official Trump was trading at $3.56 on CoinMarketCap, up 24.91% from the previous day. The rally appears to be underpinned by news that President Trump will host a luncheon event for top memecoin holders. According to Official Trump, President Trump will invite 297 top holders of Official Trump to a luncheon on the 25th of next month at Mar-a-Lago in Florida. It was also reported that a separate VIP event has been arranged for the top 29 holders.
The research group focused on Bitcoin (BTC), the Bitcoin Policy Institute (BPI), voiced dissatisfaction with the Basel framework, the international bank regulatory regime. According to Cointelegraph, a digital-asset news outlet, Connor Brown, managing director at BPI, said on X (formerly Twitter) on the 13th (Korea time) that “under the current Basel framework, Bitcoin is being treated as a ‘toxic asset,’” adding that “when the Federal Reserve releases a proposed rule related to adopting the Basel standards, we will review it closely and submit comments so that appropriate regulation of Bitcoin is implemented.” Brown said “the Basel framework applies a 1250% risk weight to Bitcoin,” noting that “this is effectively a far harsher regulatory level than for most assets.” He added that “such rules make it difficult for banks to provide financial services to Bitcoin investors or related companies.” Risk weights are a metric used to assess the riskiness of assets held by banks and determine the amount of required capital. Meanwhile, the Federal Reserve is expected to soon publish a proposed rule to incorporate the Basel Committee on Banking Supervision (BCBS) standards on asset risk weights into U.S. bank regulation and begin the public comment process.
NEXUS said on the 12th (local time) that it has signed a strategic partnership with Dev Stream Labs, an AI-based development solutions provider, at “GDC 2026” held in San Francisco, U.S. Dev Stream Labs is an infrastructure specialist that uses AI to automate build, test and deployment pipelines for game and software development teams. By intelligentizing complex development processes, it has capabilities that reduce errors and dramatically improve time to release. Through this cooperation, the two companies will combine AI-driven DevOps automation technology with NEXUS’s blockchain game infrastructure. Specifically, the collaboration will focus on helping game developers participating in the CROSS ecosystem provide Web3 services more easily and quickly. In particular, they plan to discuss, in phases, the introduction of a practical technical support package so game companies can focus their capabilities solely on core development, including ▲building an AI-based automated deployment environment ▲improving efficiency of on-chain integration testing ▲optimizing global launch pipelines.
As Bitcoin (BTC) miners have struggled in recent years amid deteriorating profitability, calls are growing for them to use their Bitcoin holdings as managed assets to navigate the downturn. According to Cointelegraph, a digital-asset news outlet, market maker Wintermute said on its website that “Bitcoin miners are under pressure from declining revenues, and to overcome this they need to pivot into artificial intelligence (AI) infrastructure businesses or find ways to generate returns using Bitcoin.” Wintermute explained that “because miners have built large-scale infrastructure in regions with cheap power, they can provide what the AI industry needs.” Earlier, Marathon Digital Holdings, one of the largest U.S. mining companies, said it could sell part of its Bitcoin holdings to fund an expansion into AI. Beyond an AI pivot, another option is to actively manage their Bitcoin holdings to generate income. Wintermute noted that “miners, in line with the HODL (long-term holding) culture, hold an amount equivalent to 1% of the total Bitcoin supply,” but added that “miners should use it not merely as a reserve but as a managed asset to secure a competitive edge.” Wintermute suggested derivatives trading to capture additional returns and earning interest by depositing funds on lending platforms as examples of how miners could manage their Bitcoin holdings.
A claim has been raised that stablecoins (digital assets pegged in value to fiat currencies) could be used to improve inefficiencies in cross-border payment systems. However, it was also noted that stablecoins still face challenges that must be addressed to become part of real-world infrastructure. Kim Byeong-hee, head of Shinhan Bank’s digital-asset cell, said at the ‘2026 Blockchain Meetup Conference’ held at the Seoul Textile Center on the 12th, “At present, cross-border payments continue to draw criticism for being costly, slow to process, and lacking in transparency and accessibility.” He added, “The G20 and the Financial Stability Board (FSB) are also pushing initiatives to enhance the efficiency of cross-border payments to address this issue, but there are limits to what can be achieved by partially improving existing systems.” According to Kim, the biggest problem with the current system is fragmentation. Information needed for transactions, the status of assets, and remittance messages are all dispersed, meaning significant time and costs are consumed during verification. Kim then introduced the concept of “Finternet.” This is the Bank for International Settlements (BIS)’s proposed solution to change how existing payment systems operate by building a single network that integrates fragmented finance, assets, and ledgers. Notable models for the Finternet include ▲Project Agora, ▲Ledger, and ▲Project Pax. Kim predicted that stablecoins will play an important role in these models. “Stablecoins are the most viable financial alternative among the solutions introduced so far in terms of transaction finality speed,” he said, adding that “because they can move in token form carrying asset information, transaction rules, and remittance information together, they can improve processing efficiency.” However, Kim added that stablecoins still have hurdles to clear before they can become an international payments standard. “Stablecoins have the advantage of fast transfer, but they still need improvements in two areas—liquidity and regulation,” he said.
Toss said it is actively pushing ahead with its stablecoin business (digital assets pegged in value to fiat currencies). Seo Chang-hoon, an executive director at Viva Republica, said at the '2026 Blockchain Meetup Conference' held at the Seoul Textile Center on the 12th, "Toss wants to try both distributing and issuing stablecoins," adding, "because to do distribution well, the issuance protocol and infrastructure need to coexist alongside it." Seo presented "Money 3.0" as Toss’s next-generation financial initiative. He explained, "Money 3.0 is characterized by universality, programmability (executability), verifiability, composability, and seamlessness (integration of online and offline)," adding, "the Money 3.0 era is a structure in which specific conditions are embedded in money itself, allowing financial activities to be executed automatically without human intervention." Toss says stablecoins and artificial intelligence (AI) are at the core of the initiative. Seo said, "In the existing monetary infrastructure, people were the entities moving money, but in Money 3.0, 'AI agents' conduct financial activities," adding, "this service can be implemented only when stablecoin infrastructure is combined." He also argued that Toss is the most suitable platform for stablecoin infrastructure. "Toss is a financial platform with a user base of 30 million, MyData, electronic authentication, and banking, securities, and payments licenses," Seo said, adding, "we can handle stablecoin issuance and distribution, as well as asset linking, on a single platform." Going further, Toss plans to expand its offline infrastructure ahead of the arrival of the Money 3.0 era. "Even a digital currency has to be usable at a neighborhood café," Seo said, adding, "we will roll out more than 700,000 Toss Place terminals by 2027 to break down the boundary between online and offline."
The Bank of Korea said it agrees on the need for a won-denominated stablecoin (a digital asset whose value is pegged to fiat currency), while maintaining that concerns over bank runs remain. For this reason, the BOK is reportedly conducting technical experiments aimed at reducing stablecoin risks. On the 12th, Sung Joon-yi, a team head at the Bank of Korea, said at the “2026 Blockchain Meetup Conference” held at the Seoul Textile Center, “On the surface, stablecoins are structured to be pegged to fiat currency, but there have been occasional cases where depegging occurred or redemption became difficult,” adding, “In times of market stress, a ‘coin run’ could occur in the worst case.” He also pointed to the liquidity of reserve assets as a key risk factor for stablecoins. “Most stablecoins hold government bonds or bank deposits as reserve assets, and if investors simultaneously demand redemptions, a ‘timing gap’ can arise in the process of liquidating those reserves into cash,” he explained. To address such situations, the Bank of Korea is turning to the “Hangang Platform.” Hangang is a platform designed to test the issuance and transactions of a central bank digital currency (CBDC). Sung said, “Even if stablecoins circulate across multiple public blockchains, the redemption process needs to be handled on a more stable infrastructure,” adding, “The Hangang Platform aims to serve as a stable settlement and redemption channel that can act like a ‘back office’ for stablecoins.” The presentation also unveiled the BOK’s roadmap going forward. First, in the first half of 2026, the BOK will pursue a pilot project with the Ministry of Economy and Finance to execute Treasury funds using the Hangang Platform. Then, in the second half of this year, it plans to implement real transactions for the general public, and from 2027 it plans to research and develop use cases to enable the coexistence of deposit tokens and won-denominated stablecoins. Meanwhile, in response to a question about whether, in a coin-run-type situation, risks could spill over to banks due to a bank-led consortium stablecoin issuance structure, Sung replied, “Banks are safe because the central bank can provide support such as credit provision if such an event occurs.”
Coin card hands-on Real-time coin→cash conversion mechanism Tap the terminal and the payment goes through immediately Runs on the Visa and Mastercard card networks Korean finance sector ramps up response I recently heard that coin cards that allow payments with digital assets can also be used in South Korea. Not only stablecoins pegged to fiat currencies, but also major digital assets such as Bitcoin (BTC), Ethereum (ETH) and Solana (SOL) can be used for payments. I decided to try a coin card myself. On an industry contact’s recommendation, I obtained a Visa card linked to a blockchain project called TRIA for about $20. After downloading the app and completing customer verification (KYC), a virtual card was issued immediately. I then deposited Solana worth about $125 into TRIA’s digital wallet and topped up the virtual card. There were limitations in the process. I could not add the card to Samsung Pay, which I use. After checking, TRIA cards were available only on Apple Pay and Google Pay. Fortunately, I was able to register it on Google Pay, which I used during a business trip. After visiting a Starbucks store in Gangnam-gu, Seoul, I opened the Google Pay app and held my phone to the payment terminal, and the payment went through right away. While it varied depending on the terminal environment, coin cards could be used at most merchants (convenience stores, cafes, etc.) that support Apple Pay. Using Visa and Mastercard payment rails Digital assets are spreading beyond being a mere investment vehicle into the real economy. Coin cards launched through partnerships between global payment networks such as Visa and Mastercard and blockchain infrastructure firms were confirmed to be usable at many merchants in Korea. A coin card is a payment method that uses blockchain technology to link a card with a digital-asset wallet. It works by converting the user’s digital assets into fiat currency for payment. The payment itself is processed through Visa’s and Mastercard’s existing card networks. The conversion of digital assets into cash uses a blockchain-based “real-time FX (Real-time On/Off ramp)” function. The market is also expanding rapidly. Global digital-asset exchanges such as Crypto.com, Bybit and Coinbase have already launched various coin cards, and projects including TRIA, Cypher, KAST, EtherFi (ETHFI) and READY are rolling out card services one after another. According to Dune Analytics, global total payment volume for coin cards amounted to $102.24 million (about KRW 150 billion) as of February. That is about a fivefold surge from the same month a year earlier. Benefits include low fees and global usability Listening to actual users, the reasons for using coin cards were clear. The biggest reason is the “usability of held assets.” Most digital-asset investors must sell their holdings on an exchange, convert them into Korean won, and then withdraw the funds in order to use them. This process can entail verification steps and fee burdens. Coin cards, by contrast, can be used for payments immediately simply by depositing digital assets into a card-dedicated account, reducing the need for such steps. An industry source in Korea’s digital-asset sector, identified only as A, said, “I hold quite a lot of digital assets for investment purposes,” adding, “Previously, I had to convert digital assets into won every time to pay my card bill, but I started using a coin card because it lets me skip that process.” Low fees and global usability are also cited as advantages. With conventional overseas cards, multiple intermediaries often participate in the payment process, pushing fees higher. Coin cards, however, are viewed as having secured cost competitiveness by simplifying the settlement structure. As a result, coin card use is already spreading among industry professionals who travel abroad frequently. Another industry source, identified only as B, said, “If Apple Pay works overseas, you can also pay with a coin card,” adding, “From hotel stays to meals, I’m paying with a coin card without needing to exchange currency separately.” In addition, cashback of 4.5–10%—higher than typical debit cards—and airdrop points paid based on spending performance are cited as advantages of coin cards. FSS: “Hard to regulate under current law”… concerns over reverse discrimination Because most coin cards are issued overseas, they are not included in Korea’s financial regulators’ licensing framework. Regulators have also stated that it is not easy to regulate them directly under current laws and regulations, because overseas operators that provide services without establishing a domestic branch are not subject to supervision. Although the services nominally target overseas users, as in the reporter’s case, domestic users can also easily obtain and use cards through mobile apps. An industry source explained, “On the surface, it may look like digital assets are being used directly for payments, but in reality, at the time of payment the operator purchases the user’s digital assets, pays out fiat currency, and then the payment proceeds,” adding, “It is effectively the same as domestic users using a card issued overseas.” Still, concerns have been raised that such a structure could lead to “reverse discrimination” against domestic card companies. Cho Jae-woo, an associate professor at Hansung University, said, “Overseas digital-asset firms are targeting the Korean market via card networks,” adding, “With institutionalization delayed, domestic players are in a difficult position to respond.” He added, “For a domestic card company to provide the same service to Korean customers, it may also need to obtain a domestic virtual asset service provider (VASP) license.” Korea’s finance sector also moves to respond Korea’s finance sector is also moving into payment businesses that leverage digital assets. The strategy is interpreted as an effort to build digital-asset-based payment infrastructure and secure market competitiveness. Hana Financial Group earlier this month announced a service targeting foreign customers in partnership with Circle, the issuer of USDC, and exchange Crypto.com. It offers certain benefits when users top up a Crypto.com prepaid card with USDC and use it at domestic merchants. Fintech firms are also entering the field. Danal recently said it will launch next month a digital-asset payment service for foreign visitors to Korea in cooperation with digital-asset payment platform Binance Pay and Circle. The service is expected to be applied first to the foreigner prepaid card “KONDA.” Moves at the industry level are also continuing. The Credit Finance Association last January launched the “Stablecoin Phase 2 Task Force (TF)” and prepared a draft set of integrated guidelines for card companies. More recently, it said it will conduct a three-month “stablecoin card-network payment technology proof of concept (PoC)” starting next month in cooperation with Lambda256, a Dunamu subsidiary.
As the blockchain-based asset tokenization market grows rapidly, a call has emerged that South Korea must broaden the usability of the won to avoid losing leadership. On the 12th, Lee Jong-seop, a professor at Seoul National University’s College of Business Administration, attended the '2026 Blockchain Meetup Conference' held at the Seoul Textile Center and said, "With the spread of blockchain-based financial infrastructure, the tokenization (RWA) market is expanding," adding, "If South Korea is to expand its influence in the tokenization market, it must build a 'tokenized economy' based on the won." Lee explained that stablecoins are a core asset linking payments and liquidity provision in the era of tokenized assets. He said, "Even if assets are tokenized, if the payment system remains anchored in existing bank accounts or cash systems, it is difficult to leverage the advantages of blockchain, where asset transfers and payments can occur simultaneously," adding, "For a tokenized economy to function, it is desirable that the payment currency also move to a tokenized form." In fact, stablecoins have established themselves as standard infrastructure in the global tokenization market. Among them, stablecoins backed by the U.S. dollar dominate the market. Lee said, "With more than $300 billion (about 400 trillion won) worth of dollar stablecoins already issued, they have gone beyond being a simple tool for virtual-asset trading and are serving as a blockchain-based 'digital dollar rail'," diagnosing that "in the current market, the influence of dollar-based stablecoins is around 95%." This is the backdrop to concerns that, if this phenomenon persists, the dollar-centric structure is likely to be reinforced. Lee explained, "Global asset managers are also expanding tokenized products using public blockchains, and in the process, payment and liquidity-supply structures leveraging stablecoins are spreading." Lee argues that South Korea should also move to tokenize 'money' by taking cues from the U.S., which is already on a successful trajectory. He said, "For South Korea to secure competitiveness in the tokenized financial market, it needs a won-based stablecoin," stressing that "Ultimately, the financial market is moving from a bank account-centered economy to a blockchain-based, asset-centered economy." In this regard, Lee said policymakers need to set clear key performance indicators (KPIs) related to tokenization to accelerate adoption. He said, "We are past the stage of debating whether to adopt tokenization. We need to think about what order and standards to adopt it under," adding, "Policy KPIs should be designed around factors such as reliability, usability, and international connectivity, rather than outstanding issuance."
NEXUS said on the 10th that it has onboarded CrazyMind’s RPG title 'Dungeon Cross-Relic Hunter (Dungeon Cross-Relic Hunter, hereafter Dungeon Cross)' onto 'CROSS.' Dungeon Cross is a pixel-graphics-based action RPG. Players can directly control characters to explore dungeons and collect items. Along the way, they can obtain key in-game currencies such as Blue, Pink and Rainbow Crystals, which can be converted into tokens usable within the CROSS ecosystem. Specifically, it provides functions such as token issuance, rewards and payments by leveraging services including CROSS Lamp, CROSS Play, CROSS Wave, CROSS Shop and CROSS Pay. Dungeon Cross has been released simultaneously on Google Play, Apple’s App Store and Huawei AppGallery, among others. Jang Hyun-kuk, CEO of NEXUS, said, "We implemented it so that gamers can experience the economic activities they want both inside and outside the game," adding, "This will further enhance the game’s potential for success and overall completeness."
Bitcoin (BTC) has recently shown a sharply stronger correlation with the U.S. stock market. According to Bloomberg on the 7th (Korea time), the 30-day correlation coefficient between Bitcoin and the S&P 500 reached 0.74, the highest level so far this year. The correlation coefficient measures how closely the prices of two assets move together; the closer it is to 1, the stronger the co-movement. In fact, when the United States and Israel carried out airstrikes on Iran recently, both Bitcoin and U.S. equities fell at the same time. Some observers say that despite Bitcoin’s role as an alternative asset to the traditional financial system, it has been moving much like a risk asset. Athanasios Psarofagis, an exchange-traded fund (ETF) analyst at Bloomberg Intelligence, said, “When volatility increases, Bitcoin and equities should move in opposite directions, but instead their correlation has risen.”
As the digital asset clarity bill known as the “Clarity Act” emerges as a key variable for the digital asset industry amid ongoing discussions in the U.S. Congress, industry voices have said the legislation could reshape the sector’s structure. Luca Netz, CEO of Pudgy Penguins (PENGU), said in an appearance on the Paul Barron Network YouTube channel on the 7th (Korea time) that “the biggest weakness of the digital asset industry has been the lack of regulatory clarity over the past 15 years,” adding that “if the Clarity bill passes in the right form, it could fundamentally change the industry.” The Clarity Act is legislation intended to more clearly define the legal nature of digital assets and sort out regulatory jurisdiction. Netz said, “Until now, the digital asset industry has effectively operated in a regulatory gray area,” adding, “From a company’s standpoint, an environment without clear legal standards is a burden.” He continued, “If clear regulations are established, both companies and investors will be able to operate on a legal footing, and that could translate into broader industry growth,” explaining that “it will be an important catalyst for digital assets to develop into long-term financial infrastructure.” He also projected that positive changes could emerge for memecoins and non-fungible tokens (NFTs), which have been marginalized. Netz said, “The bill includes provisions that more clearly define what NFTs are and what category memecoins fall into.” Still, Netz said there is a need to review the bill’s completeness. “I think the Clarity bill basically points in the right direction, but if some of the design gets misaligned, it could instead hinder the industry’s development,” he said, adding that he hopes “the bill considers the entire digital asset ecosystem, not specific companies.”
Monthly stablecoin transaction volume (digital assets pegged to the value of fiat currencies) hit an all-time high. USDC in particular saw a notable jump in trading volume, overtaking Tether (USDT). According to Cointelegraph, a digital-asset news outlet, monthly stablecoin transaction value in February totaled $1.8 trillion, setting a new record. Data analytics firm Allium said the most-traded stablecoin by monthly volume in February was USDC. About $1.26 trillion worth of USDC changed hands, accounting for 70% of total volume. Over the same period, Tether’s transaction volume came to about $514 billion. While USDC’s market capitalization is about $100 billion smaller than Tether’s, it has consistently outpaced Tether in trading volume in recent months. The industry is also increasingly viewing the expansion of stablecoin liquidity as a potential signal of a rebound in the digital-asset market. In a report, CryptoQuant said, “The stablecoin supply ratio (SSR)—the ratio of stablecoin market capitalization to Bitcoin market capitalization—is showing a recovery again,” adding, “This indicates that the market’s buying power is increasing once more.” It continued, “As more stablecoins flow into exchanges, the pool of funds available to buy digital assets expands, which could form a foundation for a market upswing.”
U.S. President Donald Trump unleashed a barrage of harsh criticism toward Iran and warned of additional attacks. On the 7th (Korea time), President Trump wrote on his social media platform (SNS) Truth Social, “Iran apologized today to its neighboring Middle Eastern countries and promised it would no longer fire on them,” stressing that this was “because of the relentless attacks by the United States and Israel.” He added, “Iran is no longer the ‘bully of the Middle East’ but has become the ‘loser of the Middle East.’” He also suggested that a major strike against Iran could come that day. Trump said, “Iran will take a very big blow today,” adding that he is “seriously considering total destruction and certain death” because of Iran’s malicious actions.
South Korea’s Financial Services Commission (FSC) drew a line against reports that it has decided to exclude stablecoins—cryptoassets pegged to fiat currencies—from the types of virtual assets (cryptocurrencies) that corporates would be permitted to invest in. An FSC official said on the 7th to Blockchain Today that reports claiming a consensus had been reached to exclude stablecoins from the permitted investment scope under the corporate virtual-asset trading guidelines were false. Earlier, one media outlet reported that, under the “Corporate Virtual-Asset Trading Guidelines” being prepared by the FSC, listed companies and corporates registered as professional investors would be allowed to trade virtual assets, but that the regulator was leaning toward excluding stablecoins such as Tether (USDT) and USDC from the eligible investment universe. The FSC, however, said that no decision has been made on whether to permit investment in any specific virtual asset.
Spark (SPK), a decentralized finance (DeFi) lending protocol, is estimated to have carried out a token buyback. On the 7th (KST), on-chain analyst AmberCN said on X (formerly Twitter), "After recently moving 570,000 USDS to a new multisig wallet, Spark began scaling into SPK token purchases," adding, "So far, it has been confirmed that roughly 1.84 million SPK tokens have been bought." The buyback follows Spark governance proposal 'SAEP-09,' which was proposed in January. According to the proposal, Spark plans to first secure reserves for protocol operations (about $35 million) and then use a portion of remaining treasury funds to buy SPK tokens on the market. The buyback is expected to run for around 12 months, using 10% of surplus funds excluding treasury reserves each month to purchase SPK.
KITE said on the 7th that it has appointed former PayPal executive Ehsan Yousefzadeh as its new head of product. Yousefzadeh previously served at PayPal as a senior director and head of AI products, leading projects including agentic commerce, an agentic payments protocol, and the development of in-house AI agents for PayPal and Venmo. KITE said it expects Yousefzadeh’s experience to play a significant role as the company builds foundational infrastructure for the agentic economy and next-generation autonomous AI agents.
Net outflows were recorded from spot exchange-traded funds (ETFs) tied to XRP. According to Sosovalue on the 6th (local time), XRP spot ETFs posted total net outflows of $16.6 million on the day. The products had logged net outflows of $6.2 million the previous day. By product, 21Shares TOXR saw $10.6 million leave the fund, followed by Bitwise XRP (-$3.7 million) and Grayscale GXRP (-$2.4 million), among others.
The market capitalization of euro-pegged stablecoins (digital assets whose value is linked to fiat currency) has surpassed $1 billion for the first time. On the 7th (Korea time), EDnews, citing data from the data platform Token Terminal, reported that the combined market cap of all euro-pegged stablecoins issued to date has exceeded $1 billion. The outlet said, “Euro stablecoins are being used for specific purposes and are growing,” adding, “While they remain small compared with dollar stablecoins, European institutions and companies are using euro stablecoins with strong regulatory compliance for trade, payments, and other uses.”
As U.S. President Donald Trump signaled a hard-line stance toward Iran, Iranian President Masoud Pezeshkian also made clear that there would be “no unconditional surrender.” According to China’s CCTV on the 7th (Korea time), Pezeshkian said in a national address, “The people must unite to defend the country,” delivering the message. He added, however, that Iran would not carry out further attacks on neighboring countries. Pezeshkian said, “Through a meeting on the 6th, the interim leadership council approved that we will no longer attack neighboring countries unless those neighboring countries attack Iran first.” A day earlier, Trump said, “The only way Iran ends this war is ‘unconditional surrender.’”
Virtual assets and blockchain technology were mentioned in the US National Cyber Strategy of President Donald Trump, who has stressed a pro-virtual asset (cryptocurrency) stance since before taking office. According to Cointelegraph, a virtual-asset news outlet, on the 7th (Korea time), Alex Thorn, head of research at Galaxy Digital, shared the US cyber strategy report via X (formerly Twitter) and said that “the US cyber strategy specifies virtual assets and blockchain as technologies that must be protected and secured.” The shared US cyber strategy report includes language about “building secure technologies and supply chains that protect users’ personal information from the design stage through deployment, and supporting the security of virtual assets and blockchain technology.” Some in the industry, however, interpret this as groundwork for tighter regulation. Thorn explained that “the phrase about strengthening the fight against criminal infrastructure and cutting off financial off-ramps and safe havens suggests the potential for intensified enforcement against mixer services, privacy coins, and the like.”
Bitcoin (BTC) weakness is extending into the weekend. The pullback is seen as driven by risk appetite retreating amid geopolitical risks stemming from the Middle East war and a stronger dollar. As of 3:30 a.m. on the 7th (KST), Bitcoin is trading on Binance at $67,877, down 3.66% from the previous day. Bitcoin rose as high as $74,000 earlier this week, but later gave back most of those gains as profit-taking emerged. Major altcoins also declined in tandem. Ethereum (ETH) and XRP (XRP) fell 4.54% and 2.44%, respectively, from the previous day. Moreover, all altcoins in the top 10 by market capitalization—including Binance Coin (BNB), Solana (SOL), and Dogecoin (DOGE)—are showing weakness. CoinDesk said, “The dollar posted its biggest weekly gain in a year on rising energy prices, renewed concerns about inflation reaccelerating, and delays in rate cuts by the Federal Reserve (Fed),” adding that “the macro backdrop surrounding Bitcoin prices is weighing on risk appetite.” At current prices, about 43% of Bitcoin’s total supply is estimated to be in losses.