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Haru Invest CEO Acquitted, Cleared of $650 Million Fraud Charges

5 hours ago

On June 17th. According to The Block, it was announced on Tuesday by the South Korean court that Haru Invest CEO Lee Hyung-soo was acquitted and the fraud charges against him were dismissed. Lee Hyung-soo had previously been subject to fraud accusations due to Haru Invest's sudden suspension of user withdrawals and the closure of its office in June 2023. The company was said to have attracted thousands of investors by promising "full principal returns" and annualized returns of up to 25%. Initially, South Korean prosecutors accused the company of illegally obtaining 1.39 trillion won (approximately $1.02 billion) from around 16,000 investors. However, during the formal indictment, the amount was adjusted to 880.5 billion won (approximately $650 million), involving about 6,000 investors. Prosecutors had requested the court to sentence Lee Hyung-soo to 23 years in prison.
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Analyst: Trump's Latest Remarks Touch on Tariffs Again, but the Market Seems to Have Shifted Focus Away from Tariffs

On June 17th, Trump recently issued statements claiming that the EU has not yet provided a fair deal. While there is a possibility of reaching an agreement with Japan, their stance remains "tough." He also pointed out that pharmaceutical tariffs are about to be imposed. Analysts have stated that Trump's remarks mainly focus on tariff issues. However, one analyst believes that tariffs are no longer as crucial. If necessary, the (tariff suspension) deadline in July could be extended, and the market has already factored in an average tariff rate of 10%. Moreover, businesses are still considering tariff rates within the range of 10 - 20%. Positive expectations for global economic growth now depend on Trump's "beautiful big deal" and rate cuts. Negative developments in these areas could lead to a reevaluation of expectations and have a negative impact on risk sentiment. (Jin10)

1 minutes ago

Dragonfly Partner: Crypto Financial Firms at the Cost Cycle Tipping Point, Popularity Expected to Last 1-2 Years

BlockBeats reported that on June 17th, Haseeb Qureshi, the managing partner of Dragonfly Capital, stated on social media, "In each cycle, entrepreneurs chase 'hot money.' In the previous cycle, this meant issuing tokens. At that time, the crypto capital markets were extremely vibrant. In this cycle, it is about bringing tokens to the equity market, similar to a 'financial company' model. However, hot money never stays for a long time, and financial companies will not become the ultimate mainstream. I guess this model will probably last another 1-2 years until the hype subsides."

1 minutes ago

South Korean actress Hwang Jung-eum allegedly misappropriated 4.2 billion KRW from her company to invest in cryptocurrency, but it has now been fully repaid.

According to BlockBeats on June 17th, the South Korean actress Hwang Jung-eum (in transliteration) has been indicted. She is suspected of embezzling approximately 4.2 billion KRW (approximately 3.07 million USD) of company funds to invest in virtual currencies. On June 17th, her management agency, Y1 Entertainment, stated that Hwang Jung-eum had repaid the full amount in two installments on May 30th and June 5th. Previously, around 2022, Hwang Jung-eum withdrew a total of 4.34 billion KRW from Hunminjeongeum Entertainment. Most of these funds were used for cryptocurrency investments. The case involves violations of the "Act on the Aggravated Punishment of Specific Economic Crimes" related to embezzlement of funds and is currently in the process of judicial proceedings. (Yonhap News)

1 minutes ago

Yesterday, the net inflow of the US Bitcoin spot ETF was $408.6 million.

On June 17th, based on the monitoring by Farside Investors, the net inflow into the U.S. Bitcoin Spot ETF amounted to $408.6 million the previous day.

1 minutes ago

The average daily airdrop profit for mainstream trading users on Binance Alpha over the past 30 days is approximately $14.6.

June 17th: Based on BlockBeats' calculations for this round of Binance Alpha's new point redemption project SPK, under normal circumstances (with a principal of $1000), the users of this round of Alpha are in a profitable state. Profit Details: Users with at least 240 Binance Alpha points can redeem 15 points to obtain an airdrop of 2000 SPK tokens, which are valued at $140. Primary Trading Volume Tier: According to the current user's primary trading volume tier of $32,768 (15 points). Balance Tier: $1,000 (2 points). Transaction Burn Rate: 0.01%. Under Binance Alpha's new regulations, the trading volumes between Alpha token pairs are excluded from point calculations, resulting in a daily transaction burn of $4. The expected revenue within 30 days is $560, the expected cost within 30 days is $120, and the expected profit within 30 days is $440, with an average of approximately $14.6 per day.

1 minutes ago

SPK is currently trading at $0.06 upon opening on Binance.

On June 17th, according to Binance market data, Spark (SPK) opened at $0.069 and is currently trading at $0.06.

1 minutes ago

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