“Left-LEANING LEE JAE-MYUNG WON’T CRYPTO Policies, Hashed CEO SIMON KIM SAID IN ANI INTERVIEW WITH COINDESK”, – WRITE: www.coindesk.com
Macro Events and Vitalik’s Bold Plan to 10x Ethereum Layer 1 Could Propel Eth Past $ 3000: Okx’s Lennix LaiEth Traders Areaing $ 2600 Asia Begins It Business Day, But Okx’s Chief Commercial Officer Lennix Lai Sees An Easy Path for The Token To Hit $ 3000 IF VITALIK Layer-2s.
Layer 1 Refers to the Main Blockchain Infrastructure, Such As Ethereum Itelf, While Layer 2 Solutions Are Secondary Systems Built on Top of Layer
“Vitalik’s Pivot to Scale Ethereum Layer 1 by 10x Will Be a Game-Count, Shifting Focus Away from Heavy Reliance On Layer 2 Solutions Like Sharding,” Lai Said in A Notent. Buterin Made at Ethglobal Prauge.
“On Our Platform, Eth Perpetual Futures Made Up 44.2% of Trading Volume Over The Past 7 Days, Showing Us that Sophisticated Investors are Closely Tracking this Evolution.
Lai Points to this Week’s Key Macro Events, Like The Ecb’s Rate Decision and Us Jobs Data, As Factors That Could Significanti Impact Risk-on Appetite Ethereum’s Long-Term Success Hinges on Vitalik’s Ambitious RoadMap.
Elsewhere, Coindesk Research’s Technical Analysis Model Bot Highlights Ethereum’s Resiliency Above Critical Support at $ 2 2.600, Driven by Institlational. Buying, Positioning Eth for A Possible Altcoin Rally.
Hashed CEO SIMON KIM SAYS Korea Election Boosts Crypto, Stablecoins, and AISimon Kim, The Ceo of Korea’s Largest Crypto Fund Hashed, Believes Crypto Has Become a Critical Force in South Korean Politics, and It’s Going to Be Business As Usual for the Case. Left-Leaning President Lee Jae-Myung.
“Official, Crypto Is More Popular than the Stock Market in Korea,” Kim Said in a Recent Interview with Coindesk.
He Pointed to Data Showing 16.29 Million Daily Active Crypto Traders Compared to 14.24 Million Active Equity Traders, Noting that Political Parties Now See Supining Crypto.
South Korea’s Crypto Policies Also Continue to Be Closely Tied to Us Regulatory Developments, Accounting To Kim.
“All The Korean Politicians are following the us,” He Explained, Noting How American Institutions and Regulators Are Guiding Global Standards. Kim Aded that Korea’s Previously Set Crypto Capital Gains Tax Policy, Schereduled to Begin in Early 2027, Remains UnChanged.
Kim Expects Lee’s Administration to Develop Stablecoin Policy, As They Currently Account for About One-Telect of Korea’s Crypto Trading Volume.
Issuing A Stablecoin in Korea Might Be Complicated Because The Korean Won Is A Tightly Controlled Onshore Currency with Strify Capital Restrictions, Making It Challenging.
Kim said in his creatations with some Policymakers, they Say there “no kind of Benefit to adapting Stablecoin Won in the Korean Market,” Given Its Advanced Payments Ecosysteem.
But Stablecoins Are Here to Stay, As Kim Says They Already Account for One-Telect of Trading Volume in the Country, and there’s a growing recognition ther be taxed.
“Stablecoins Are Not Just A Payment Network,” He Said. “It’s Building A Unique Digital Platform Enabling Smart Contracts and Making An Autonomous Economy.”
Beyond Crypto, Kim Expects Lee’s Administration to Pursue Substantial Investment in Artificial Intelligence.
Yet Kim Expressed Skepticism About Plans to Create a Sovereign Generalized AI Platform Comparble to Us Giants Like Openai.
Insthead, he argued Korea’s Strenguh is in “Physical AI”, Building Specialized Solutions Tailored to Sectors WHERE KOREA Excels, Including SemicondCtors, Electronics, ELECTRONICS
“I Believe The New Administration Has Some Sense That We Have Unfair Advantages in the Physical AI EcoSystem. That’s The Point I’M Very Excited About,” HE SAID.
News RoundupCircle Prices IPO AT $ 31 Per ShareCircle Priced ITS IPO at $ 31 Per Share, Surpassing The Anticipated Range of $ 24 to $ 26, Raising Approximately $ 1.1 Billion and Valming The Stablecoin Issuer At AT AROUND US The Offering Included About 34 Million Shares, Significantly More Than Initial Planned 24 Million, Indicating Strong Market Demand.
Trading Under the Ticker “CrCl,” CirCle Will Debut Thursday On the New York Stock Exchange, Marking A Majoor Milestone After A FAILED SPAC at 2021 Amid Renewed Legislative Interest in Digital Assets and Potential Regulatory Clarity, Potentally Strengthaning Investor Confidentnce Amid Recent Crypto Valativity.
Trump’s Crypto Connections Under Scrutiny as US Congress Debates Crypto Regulation BillUS HOUSE REPUBLICANS ADVANCING Legislation to Regulate Crypto Markets Through The Digital Asset Market Clarity Act, Coindesk Previoses Markup Next Week.
Republicans Argoue The Bill Urign Urgently Addresses the Crypto Industry’s Demand for Clear Regulatory Framework to Prevent Innovations from MOVING OFSHOR Crypto Oversight.
Democrats, However, Criticize the Legislation as Rushed, Complex, and Lcking Sufficient Consumer Protection, Particularly City Unresolved Conflict-Off-Interest State Related Cryptocurrency Business Activities. Democrats Insist The Bill Needs Stringent Safeguards and Transparency Measures, As RepreSentative Jim Himes Emphasized, To Secure Bipartisan Support, While Republicans Lar Politically motivated distractions.
Market Movements:
- BTC: Bitcoin Saw Notable Volatility, Swing 1.67% AMID SIGNIFICANT Institutional -Withdrawals, StrugGGGLING TO HOLD SUPPORT ABOPPT $ 105,000
- Eth: Ethereum Surged 4%, Rebounding from A Strong Support Near $ 2,590 Driven by Institutional Buying and Whale Accumulation, Forming a Potential Base for an Upard Breakout.
- GOLD: Gold Rallied Over 0.80% to $ 3.382, Recovering from A $ 3.343 Low After Weaker US Economic Data and Escalating US-CHINA TENSIONS BOOSTED SAFE-HAVEN DEMAND
- Nikkei 225: Japan’s Nikkei 225 Dipped 0.39% at the Open Amid Mixed Asia-Pacific Trading, Driven by Concerns Over A Cooling Us Job Market
- S&P 500: The S&P 500 Closed Modestly Higher at 5.970.81 Wednesday, Supported by Tech Shares Despite Concerns Over Weak Hiring Data and escalating Trade Tensions.
Elsewhere in Crypto:
- Trump’s CFTC Pick Brian Quintenz Set for Senate Hearing on June 10 (The Block)
- Ethereum Foundation Expects 2025-26 to Be ‘Pivotal’ For The EcoSystem As It Reforms It Treasury Management (The Block)
- Vitalik Buterin Uses Privacy Tool Railgun Again, Signaling Ongoing Embrace of On-Chain Anonymity (Coindesk)
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