Gate Cryptocurrency News and Market Analysis

The Pinkfong Company, owner of the 'Baby Shark' intellectual property, saw its stock price jump 7.11% to 12,960 won as of 2pm on May 21 on the Korea Exchange, following a viral shark sighting in downtown Busan that began on May 18. The stock reached an intraday high of 14,280 won, marking an 18.02%

Kiwoom Securities received five management warnings and two improvement directives from South Korea's Financial Supervisory Service (FSS) on the 21st for failing to properly monitor a surge in overseas stock trading and maintain adequate internal controls. The regulatory action followed an

Russia's ruling United Russia party secured a commanding lead in parliamentary elections held September 18-20 (local time), the first such vote since the February 2022 Ukraine war began. With 82% of votes counted in the State Duma election, United Russia captured 57.76%, followed by the Communist

South Korea will launch site selection next month for a Global AI Hub, targeting a next-year opening, Prime Minister Han Seong-sook said on the 21st. Speaking at the first Global AI Hub Promotion Committee meeting at the Government Complex Seoul, Han stated the government will establish a

Jeong Jeom-sik, floor leader of South Korea's People Power Party, expressed concerns on the 21st about implementing virtual asset taxation scheduled for January next year, stating that proceeding without sufficient preparation would burden young investors. Speaking at a policy discussion on

SK Hynix ADR was newly included in the MVIS US Listed Semiconductor 25 Index tracked by the global SMH ETF, with pricing based on the 18th US market close and trading starting from the 21st. Skyworks Solutions was removed during this periodic rebalancing, with SK Hynix ADR receiving a 5% index

MBK Partners participated in acquisitions of three Japanese companies with a combined transaction value of up to 430 billion yen (approximately 3.8 trillion won) over the past three months, according to investment banking industry sources on the 21st. The private equity firm completed one acquisitio

Dongguk University Law School Digital Asset Center and digital asset strategic advisory firm INSIGHT3 signed a memorandum of understanding (MOU) for cooperation in digital asset legal research and professional training, announced on the 21st. The partnership aims to bridge the gap between academic l

Stablecoins pegged to foreign currencies experienced extreme price volatility on Korean cryptocurrency exchanges, with JPYC surging 208% within one hour on Upbit on the 17th and EURC jumping 400% on Bithumb on the 14th. The price instability stems from Korea's retail-only market structure, where

The global stablecoin market has consolidated around dollar-pegged assets, with the Bank for International Settlements (BIS) reporting a market capitalization of $320 billion as of May end and annual trading volume of $28 trillion last year, according to data released on the 21st. Dollar-linked stab

S&P Global warned on May 21 that Korean companies participating in aggressive data center construction projects face potential credit rating downgrades due to rapidly increasing investment burdens. The credit rating agency estimated that South Korea's data center investments will reach

Samsung Securities, Shinhan Investment, Korea Investment, and Mirae Asset launched high-interest special promotional products before the Chuseok holiday, offering annual rates of 4-5%, according to the financial investment industry on the 21st. The securities firms rolled out promissory notes and in

The director of South Korea's National Pension Service Real Estate Investment Office has been suspended for over two months following a standby order issued July 15, leaving the position vacant and effectively halting tens of trillions of won in real estate investments. Director An, who led the

The United States and China face sharply divergent interest rate environments as their technology sectors compete in artificial intelligence development. The US 10-year Treasury yield reached 5.0450% intraday on the 15th before settling near 4.9%, marking the first time above 5% since October 2023 a

PayProtocol, the virtual asset payment subsidiary of Danal, signed a strategic memorandum of understanding with Squid, a global cross-chain swap protocol, on the 21st to integrate the PayCoin mainnet and build multichain payment infrastructure. The partnership aims to enable users holding assets on

The Korea Financial Investment Association (KOFIA) and the Thai Bond Market Association (ThaiBMA) held a meeting on May 21 at KOFIA's Seoul offices to discuss cooperation in bond market development, self-regulation, and market information sharing. The meeting was convened to explore ways to expand c

South Korean stock market observers are closely watching whether the KOSPI index will repeat its historical pattern of post-Chuseok holiday gains. According to statistics from Korea Exchange and Yonhap Infomax covering 2000 to last year, KOSPI rose during the 5 trading days following Chuseok in 19 o

Mirae Asset Securities stated on the 21st at a seminar held at Conrad Hotel in Yeouido, Seoul that it can achieve the fastest digital asset infrastructure expansion among domestic securities firms once the Digital Asset Basic Act currently under discussion in the National Assembly is processed.

Nvidia CEO Jensen Huang stated in a CBS News interview on Saturday that the chipmaker aims to pay employees 'as much as possible' and projected the company could pay about $8 billion in U.S. taxes over five years. Huang's comments come as AI-driven growth generates unprecedented wealth for chipmaker

South Korea's Hana Bank issued a five-year, $100 million digital bond using Euroclear's blockchain-based platform, Yonhap News Agency reported on Monday. The bank used Euroclear's Digital Financial Market Infrastructure to issue the foreign-currency bond. The transaction marks the first digital bond