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South Korea plans to lift the ban on listed companies investing in cryptocurrencies, potentially leading to thousands of large investors driving up the "kimchi premium" again?
The South Korean cryptocurrency market may be entering a new phase, with a shift from a landscape dominated by retail investors to one where institutional investors are largely absent.Telegram's "Crypto Accounting": Net Losses Behind Soaring Revenue and the $450 Million Cryptocurrency Selling Scandal
Telegram has recently been in the spotlight again due to financial information leaked to investors: its revenue curve is upward, but its net profit has turned downward. The key variable here is not the slowdown in user growth, but rather the decline in the price of TON, which has "penetrated" the asset-side volatility into the profit and loss statement.The “Korean Buffett” is planning to acquire Korbit, which could turn around the fourth largest exchange in South Korea.
With market competition intensifying, Korbit, currently holding a very low market share, faces immense difficulty in breaking through the competition. On the other hand, regulatory pressure not only hinders business development but also increases the uncertainty surrounding future acquisitions.From initial disdain to eventual appreciation, global market-making giant Citadel Securities is building a crypto "castle".
From avoiding the crypto market altogether, to launching the institutional exchange EDX Markets in partnership, and then preparing to provide liquidity on leading platforms and heavily betting on stablecoin companies and the RWA blockchain, Citadel Securities has completely reversed its attitude towards crypto assets in less than three years.
