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The risk of "exit difficulty" in the South Korean cryptocurrency market emerges: nearly 30% of assets among the five major exchanges can only be traded on one

According to South Korean media Daum, an analysis of the five major Korean won exchanges Upbit, Bithumb, Coinone, Korbit, and GOPAX, as well as the public API of CoinGecko, found that after excluding duplicate assets, the five exchanges collectively support approximately 606 types of crypto assets. Among them, 164 types (27.1%) are only available for trading on one exchange, and another 324 types (53.5%) are traded on two or fewer exchanges.Among the assets supported by a single exchange, Coinone has the most, with 55 types; Bithumb has 54 types, GOPAX has 25 types, Upbit has 16 types, and Korbit has 14 types. In terms of liquidity, the median trading volume of these 164 assets in nearly 24 hours is only about 1.37 million won, with 79 types having a trading volume of less than 1 million won, and 38 types even having zero transactions.The analysis suggests that listing on a single exchange does not inherently mean that the asset carries risk. If the relevant assets are actively traded on overseas exchanges or support smooth withdrawals, investors still have other exit channels. However, for assets with low overseas trading volume and restricted deposit and withdrawal networks, once support is terminated, investors may face difficulties in both selling and transferring.

Forbes: Europe is accelerating the construction of alternatives to the US dollar stablecoin, with the digital euro and private stablecoins advancing on two fronts

As the US dollar stablecoin continues to dominate the on-chain payment market, Europe is accelerating the development of a digital currency system that reflects its own regulatory framework, monetary sovereignty, and privacy standards, gradually forming two parallel paths: "digital euro + private euro stablecoin." Among them, the European Central Bank is prioritizing privacy protection as an important design focus for the digital euro. Piero Cipollone, a member of the Executive Board of the European Central Bank, stated that the digital euro will provide the highest possible level of privacy under current technological conditions, with offline payments visible only to the payer and payee; in online transactions, the euro system cannot directly identify specific individuals, but banks can still obtain the information required for anti-money laundering.At the same time, private institutions have taken the lead in promoting euro stablecoins. Revolut has begun rolling out EURR to some users in Denmark, Poland, and Portugal, with plans to expand to the entire European Economic Area in the future. EURR operates on Ethereum and is issued by Bridge Building, a subsidiary of Stripe, aiming to maintain a stable value against 1 euro. Forbes points out that the digital euro and EURR are not simply in a substitutive relationship: the former is a public currency issued by the central bank, while the latter is a privately issued on-chain stablecoin. The European digital currency market is developing along these two models simultaneously, with competition focusing on privacy, usability, regulatory clarity, and actual economic value.

Tom Lee: Nvidia's valuation is still relatively low, and the weakness in some AI stocks may be due to funds shifting towards Nvidia

BitMine Chairman Tom Lee stated on CNBC that after Nvidia announced strong performance, its stock price rose, breaking the previous trend where positive earnings reports struggled to drive stock prices, indicating that investors still value the company's fundamentals. Software stocks like Salesforce, CrowdStrike, and Okta also strengthened, reflecting a positive market response to downstream AI transactions, with an overall healthy market reaction.Regarding the weak performance of AI-related stocks such as Meta, Amazon, Alphabet, AMD, and Micron, Tom Lee believes that some investors may have previously underweighted Nvidia and might need to sell other tech stocks to raise funds for increasing their Nvidia holdings. He pointed out that Nvidia's earnings expectations have been significantly raised, but the stock price has not fully caught up, and the price-to-earnings ratio is still contracting, with the current valuation remaining relatively low.Tom Lee also mentioned that data center construction is gradually becoming a political issue in the U.S. midterm elections. Even some Republican-led states and states supporting data center development are beginning to consider pausing related projects, which may be one reason for the recent poor performance of AI infrastructure-related stocks, with more funds shifting towards downstream AI targets.

Cryptoquant Founder: The peak of this Bitcoin bull market cycle may be driven by global institutional and ETF demand

Cryptoquant founder and CEO Ki Young Ju stated that the peak of the current Bitcoin bull market cycle may be driven by institutional funds and ETF demand outside the United States. He pointed out that deeper stablecoin liquidity and tokenized asset infrastructure will expand global market participation. Using South Korea as an example, Ki Young Ju mentioned that the country currently does not have a spot Bitcoin ETF, retail investors cannot purchase overseas-listed spot Bitcoin ETFs, and most companies are unable to open trading accounts to buy BTC. South Korea has phased in corporate participation, with the Financial Services Commission (FSC) roadmap covering about 3,500 listed companies and qualified professional investors, but financial institutions and other companies are still excluded.Strategy's Bitcoin bank evaluated 25 major institutions covering trading, custody, digital asset products, financing, and corporate participation, with an overall adoption rate of 32%. RWA.xyz data shows that the global tokenized asset distributed asset value is $38.63 billion, an increase of 2.65% compared to 30 days ago. The Bank for International Settlements (BIS) stated that stablecoins have the potential to enable faster, programmable payments, but current designs may pose risks to financial integrity, liquidity, and currency. Ki Young Ju pointed out that the cumulative net inflow before the launch of the U.S. spot Bitcoin ETF was about $57 billion over two years, and the next phase will be global institutionalization, with more institutions adopting BTC as a strategic asset, and countries lacking ETFs will also improve related investment channels.

The Interpol Operation Jackal IV has arrested 58 people, focusing on cracking down on investment fraud such as cryptocurrency scams

According to IT Home, the International Criminal Police Organization (INTERPOL) has announced the results of the new anti-fraud operation "Jackal IV." This operation will last from November 2025 to June 2026 and involves 22 countries and regions worldwide, focusing on combating online financial crimes such as romance scams, cryptocurrency and investment fraud, email scams, and money laundering. A total of 58 people were arrested in this round of operations, and the identities of 263 individuals involved have been confirmed.Among them, the Argentine police seized a "Crime-as-a-Service" (CaaS) network that provided website domain and money laundering services, arresting 17 people and confirming the identities of 196 individuals involved. The South African police raided 7 locations in Johannesburg, arresting 39 suspects accused of romance scams and investment fraud targeting retirees from English-speaking countries, while seizing $2.67 million and freezing 257 bank accounts.In addition, the Italian police confirmed one suspect involved in a cross-European money laundering network, discovering that a single bank account was linked to money laundering transactions amounting to €845,000; the Romanian police dismantled an investment fraud gang, arresting 11 people and seizing illegal assets such as cash, cryptocurrency, and real estate.
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