Uk Jin

South Korea’s Rival Parties Push Digital Asset Bill After Local Elections, Call Stablecoins Urgent

National Assembly Stablecoin Seminar Ruling and opposition parties say they will take up the Digital Asset Basic Act immediately after local elections Tether says a won-based stablecoin could help connect South Korea with global capital South Korea’s

First Digital CEO Says Stablecoins Are Essential to AI Payments, Sees Strong Potential for Won Token

"Payments by AI agents would be impossible without stablecoins, digital assets pegged to fiat currencies." Vincent Chok, chief executive officer of First Digital, made the remarks on May 12 at a seminar at South Korea's National Assembly in Seoul on

Korea Should Adopt Risk-Based Stablecoin Rules Instead of Blanket Regulation

South Korea should adopt a differentiated regulatory framework for stablecoins based on the risk profile of each digital asset, rather than imposing uniform rules across the board, speakers at a seminar in Seoul said. They added that Korea should des

South Korean Parties Back Stablecoin Push, Promise Fast-Track Digital Asset Law After Local Elections

South Korea’s ruling and opposition parties called fostering the domestic stablecoin market an urgent priority, pledging to fast-track a digital asset framework law after local elections. At a May 12 seminar at the National Assembly in Seoul on globa

Ondo Finance Jumps 52% in a Week After Joining DTCC Tokenization Working Group

Ondo Finance (ONDO) has surged over the past week. According to CoinMarketCap, ONDO was trading at $0.4260 as of 10:45 p.m. on May 9, up 6% from a day earlier. That marked a 52.56% gain from a week earlier. The rally appears to have been driven by ne

Strategy CEO Says Company Has Generated $5 Billion in Bitcoin Gains This Year

Strategy, the world's largest corporate holder of Bitcoin, shared an update on its Bitcoin performance. Chief Executive Officer Phong Le wrote on X on May 9 that the company's Bitcoin yield has reached 9.4% so far this year, translating to about $5 b

Kelp DAO Says It Will Start Asset Recovery Work With Aave Within 24 Hours

Kelp DAO, which suffered what it described as the worst hack of the year, said it will formally begin procedures to recover and restore rsETH, the asset frozen in the attack, in coordination with Aave. In a post on X on May 9, Kelp DAO said it plans

JPMorgan Says Money Is Shifting From Gold to Bitcoin as US Debt Tops $39 Trillion

As US government debt has climbed past $39 trillion, stoking warnings of a fiscal crisis, investors seeking protection against a weakening dollar are shifting from gold to Bitcoin, according to JPMorgan. The Block reported on May 9 that a JPMorgan re

Bitcoin Exits Bear Market, Enters Neutral Phase, CryptoQuant Says

Bitcoin has emerged from a bear market and entered a neutral phase, according to CryptoQuant, an on-chain cryptocurrency analytics firm. In a report published on May 9, CryptoQuant contributor Easy on Chain wrote that the Bitcoin market had absorbed

US Court Allows Aave to Move $71 Million Frozen in North Korea-Linked Hack Case

A U.S. federal court has allowed Aave to transfer about $71 million in frozen cryptocurrency tied to a North Korea-linked hacking case. CoinDesk reported on May 9 that U.S. District Judge Margaret Garnett in Manhattan partially modified a freezing or

Tokenized Real-World Asset Market Grows 10-Fold in Two Years, Tops $30 Billion

The market for tokenized real-world assets, or RWAs, has expanded tenfold over the past two years, pushing its total value above $30 billion. RWAs are real-world assets converted into tokens that can be traded on blockchain networks. A16z crypto wrot

Bitdeer Mines 193.8 Bitcoin in a Week, Sells Entire Output

Bitdeer said on X, formerly known as Twitter, on May 9 that it mined 193.8 Bitcoin over the past week. It sold all of the tokens it mined, leaving its total Bitcoin holdings at zero. The company has recently sought to diversify beyond its core Bitcoi

Coinbase, Kraken, Gemini Seek Removal of CLARITY Act Market Manipulation Provision

Major US cryptocurrency exchanges are objecting to parts of the CLARITY Act. Cointelegraph reported on X on May 9 that US crypto exchanges including Coinbase, Kraken and Gemini recently asked US lawmakers to remove language in the bill related to pre

Strike CEO Says Wall Street Is No Threat to Bitcoin

Wall Street’s growing role in the Bitcoin market poses only a limited threat to the cryptocurrency, Strike CEO Jack Mallers said. Mallers made the remarks on a recent episode of the “What Bitcoin Did” podcast, Cointelegraph reported on May 9. “If Wal

Ethereum DeFi Market Share Falls to 54%, Near Record Low

Ethereum's share of the decentralized finance market has fallen by nearly 10 percentage points since the start of the year, bringing it close to a record low. CryptoSlate, citing DefiLlama data, reported on May 7 that Ethereum now accounts for about

Sahara AI Builds AI Agent System for Motherson Group With $14.5 Billion in Annual Revenue

Sahara AI, an artificial intelligence agent infrastructure company, said May 8 that it built an autonomous AI agent system with global manufacturer Motherson Group to support engineering work. The system, called Industrial Design Agent, is a multimod

XRP New Addresses Tumble 85% as Price Slump Points to Lack of Fresh Buyers

XRP’s weak price performance appears to reflect a lack of new investors, according to blockchain analytics firm Glassnode. Glassnode wrote on X on May 7 that the number of newly created addresses on the XRP network had dropped to about 2,700 a day fr

Polygon Cuts Block Time to 1.75 Seconds in First Network Upgrade Since Launch

Polygon (POL) has shortened its block generation time for the first time since the network launched. Cointelegraph reported on May 7 that Polygon implemented a network upgrade that reduced block time to 1.75 seconds from 2 seconds. The change gives t

Sui Targets Fee-Free Transfers This Year in Push Into AI Agent Payments

Sui, a layer-1 blockchain network, plans to roll out a fee-free remittance system this year as it pushes to build a global payments network. Adeniyi Abiodun, Sui's chief product officer, told The Block that the company wants to make Sui the foundatio

BlackRock Says Bitcoin Can Diversify Portfolios as Correlation With Traditional Assets Stays Low

BlackRock, the world’s largest asset manager, has recommended Bitcoin as a portfolio diversification tool for clients. In a report released on May 7, BlackRock said digital assets including Bitcoin show low correlation with traditional stocks and bon

TD Cowen Raises Strategy Price Target to $395, Citing Better Bitcoin Yield Outlook

TD Cowen raised its price target on Strategy, citing a favorable view of the company's Bitcoin accumulation strategy. The Block reported on May 7 that TD Cowen lifted its target to $395 from $385. The bank said Strategy's accelerated issuance of its

US Weekly Jobless Claims Total 200,000, Below Forecast

US initial jobless claims came in below market expectations last week. The Labor Department said on May 7 that initial jobless claims totaled 200,000 last week. That was 5,000 below economists’ forecast of 205,000 and up 11,000 from the prior week’s

Kraken Operator Payward to Acquire Stablecoin Infrastructure Firm Riff for $600 Million

Payward Inc., the operator of US crypto exchange Kraken, is acquiring stablecoin payments infrastructure company Riff Technologies. Payward Co-Chief Executive Officer Arjun Sethi told Bloomberg on May 7 that the company will buy Riff in a deal combin

VanEck Says Bitcoin to Reach $1 Million Within Five Years

VanEck offered a bullish outlook for Bitcoin. Cointelegraph reported on May 7 that Matthew Sigel, the asset manager’s head of digital assets research, said in an interview that he expects Bitcoin to reach $1 million within the next five years. Sigel

US Probes $2.6 Billion of Suspicious Oil Shorts Placed Before Trump Iran Announcements

US authorities are investigating large crude-oil short positions placed just before key announcements by President Donald Trump related to Iran, ABC News reported on May 7. The Justice Department and the Commodity Futures Trading Commission are exami

BNY Mellon Buys 101,810 More Strategy Shares, Lifting Stake to 1 Million

BNY Mellon has sharply increased its investment in Strategy, the largest corporate holder of Bitcoin. BitcoinTreasuries.net said on May 7 that BNY Mellon recently disclosed the purchase of an additional 101,810 Strategy shares. The purchase was worth

ZachXBT Targets LAB After 12-Fold Surge, Alleges Founder Manipulated Price

On-chain investigator ZachXBT has criticized LAB, a cryptocurrency project that has surged sharply in recent weeks. In a post on X on May 7, ZachXBT said LAB's founder "says all the right things publicly" while participating in market manipulation on

Nexxus Reports First-Quarter Revenue of $8.4 Million, Up 76%

Nexxus reported consolidated first-quarter revenue of 11.6 billion won ($8.4 million), up 76% from a year earlier, the company said on May 7. Operating profit totaled 132 million won ($95,700). Net loss for the period was 3.04 billion won ($2.2 milli

Coinbase Launches Perpetual Gold, Silver Futures With 24/7 Trading

Coinbase Global Inc., the largest cryptocurrency exchange in the US, has launched gold and silver derivatives. In a post on its official blog on May 6, Coinbase said it introduced perpetual futures linked to gold and silver for eligible traders outsi

Alchemy Pay Launches Alchemy Chain Mainnet for Stablecoin Payments

Alchemy Pay, a global cryptocurrency payments company, has launched its own mainnet. Binance News reported on May 7 that Alchemy Pay officially launched the Alchemy Chain mainnet, a network optimized for stablecoin payments. Alchemy Chain is designed