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Lotte Group has partnered with Arbitrum to enhance its AI-driven metaverse platform, Lotte Caliverse, announced at CES 2025. This collaboration will enable crypto payments and on-chain gaming, leveraging Arbitrum’s 250ms block times for seamless virtual experiences. The Arbitrum Foundation awarded Lotte its largest developer grant in ARB tokens, underscoring a commitment to innovation in the web3 gaming sector.
South Korea is poised to ease its restrictions on institutional crypto trading, allowing access to local exchanges for non-profit organizations as part of a broader effort to support the crypto sector. This shift follows the enactment of the Virtual Asset User Protection Act, aimed at enhancing investor safeguards and combating crypto crime, including severe penalties for scams exceeding $4 million. However, recent political turmoil and the declaration of martial law have stalled critical reforms, including the legalization of securities token offerings and the introduction of real-name corporate accounts.
Global shares showed mixed results as Wall Street experienced a slump despite positive U.S. economic data. The S&P 500 futures rose 0.2%, while the Dow Jones gained 0.1%. In Asia, Japan's Nikkei 225 fell 0.3%, and Hong Kong's Hang Seng dropped 0.9%, influenced by concerns over inflation and interest rates. U.S. crude prices increased to $75.18 a barrel, while the euro traded at $1.0326. Investors await Friday's jobs report, which is expected to indicate a slowdown in hiring.
Asian markets mostly declined following a slump on Wall Street, despite positive U.S. economic data. The Nikkei 225 remained flat, while Hong Kong's Hang Seng and Shanghai Composite fell 1.6% and 1.5%, respectively. Rising bond yields and concerns over potential tariffs under President-elect Trump are contributing to market volatility.
Asian markets mostly declined following a slump on Wall Street, despite positive U.S. economic data. Japan's Nikkei 225 fell 0.3%, while Hong Kong's Hang Seng dropped 1%. Rising bond yields, driven by strong job market reports, pressured stock prices as investors shifted towards safer Treasury bonds. In energy trading, U.S. crude rose to $74.67 a barrel, and the euro traded at $1.0346. The upcoming U.S. job market update is anticipated to show a slowdown in hiring, raising concerns about inflation and interest rate cuts.
The collapse of the Terra crypto ecosystem in 2022 may have affected over 1 million victims, as alleged in recent court documents regarding founder Do Kwon's case. Kwon, who pleaded not guilty to multiple U.S. criminal charges including fraud, is accused of misleading investors about the functionality of Terra's products, leading to a $40 billion loss. Authorities claim that the UST stablecoin's failure to maintain its dollar peg triggered the ecosystem's rapid downfall.
A recent survey of 5,225 South Korean investors revealed that Bitcoin remains the most preferred cryptocurrency, followed by XRP, which has surpassed Ethereum in popularity. Despite ongoing challenges, including a lawsuit with the SEC, XRP has maintained strong support in South Korea since 2017. Additionally, Bitcoin Cash has outperformed Solana and Cardano in local preferences, highlighting unique trends in the South Korean crypto market.
Do Kwon, former CEO of Terraform Labs, faces fraud charges in the US, impacting over a million global investors due to the collapse of the Terra ecosystem and its algorithmic stablecoin, UST. The case highlights significant regulatory challenges in the cryptocurrency sector, with the US government working to inform victims of their rights. Kwon, who pleaded not guilty, could face up to 130 years in prison.
XRP has emerged as the most preferred cryptocurrency in South Korea, surpassing Ethereum, according to recent reports. Meanwhile, Shiba Inu (SHIB) has seen significant activity among large investors, with nearly 500 billion coins moving into their wallets, indicating a bullish sentiment as the token forms a potential bull flag pattern. If this pattern holds, SHIB's price could rise above $0.00003, reflecting growing confidence among its whales.
Ripple has overtaken Ethereum as the second-most preferred cryptocurrency among South Korean investors, following Bitcoin, according to a recent survey. Despite facing challenges, including a lawsuit with the U.S. Securities and Exchange Commission, Ripple saw a significant 400% price increase in 2024, maintaining its popularity since 2017.In other news, Backpack, a crypto exchange founded by former FTX executives, has acquired FTX EU, enabling it to offer regulated crypto derivatives in Europe. The new branch aims to launch in Q1 2025, providing a range of financial products and integrating traditional payment systems.
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lotte group partners with arbitrum to launch ai driven metaverse platform
13:47 08.01.2025
south korea plans to ease institutional crypto trading restrictions amid reforms
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global shares mixed as wall street slumps despite strong us economic data
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asian markets decline as wall street slumps despite strong us economic data
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do kwon pleads not guilty as terra collapse impacts over one million victims
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do kwon faces trial as over one million victims emerge worldwide
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XRP Surpasses Ethereum as South Korea's Most Preferred Cryptocurrency
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Ripple surpasses Ethereum in popularity among South Korean investors
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