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The sharp decline in Korean stocks made it difficult to stop risk appetite, and retail investors switched to high-interest structured products

Comparative news, according to Kim Sook's report, an unprecedented stock market crash is driving retail investors in South Korea to switch to complex structured products. This group of risk-loving investors is still constantly looking for ways to improve returns. Equity Linked Securities (ELS), which have annualized interest rates of up to 40% to 50%, are once again popular with retail investors. In July, ELS sales rose to a three-year high, with mainly products linked to Samsung Electronics and SK Hynix. Meanwhile, regulators are working to curb retail fervent demand for single-stock leveraged open-ended index funds. This type of product is thought to have amplified market fluctuations during the 22% drop in the benchmark Korea Composite Stock Price Index last month. This shows that one of the largest market crashes in recent memory did little to weaken retail investors' risk appetite; it only changed the types of products they were chasing. The recent market correction seems to have created an attractive entry point for ELS products. This type of product can provide investors with coupon interest as long as the linked stock or index remains within a pre-set range. However, once the market falls sharply, such products may also face huge downside risks.

1m ago

Korean retail investors flocked to US stocks to bet on SK Hynix ADR, and 1.16 trillion won capital inflows triggered a sharp premium

Comparative news, according to data from the Korea Securities Depository and Settlement Agency, South Korean retail investors are buying up their ADR (American Depositary Receipts) listed on the US NASDAQ in a big way, causing ADR to have a large premium compared to local Korean stocks. Since SK Hynix ADR was listed on NASDAQ on July 10 to August 19, Korean investors have accumulated a net purchase of SK Hynix ADR of about US$835 million (approximately 1.16 trillion won), ranking second among US stocks bought by Korean investors during the same period, accounting for 16.4% of the total net purchase amount of US stocks by Korean investors. This trend triggered the price gap between SK Hynix ADR and local Korean stocks to continue to widen. SK Hynix Korea's shares closed down 9.75% to 1.5 million won on August 19; ADR in the US market rose 0.35% to close at $156.16. Since 1 SK Hynix ADR corresponds to 0.1 shares of the Korean capital stock, theoretically, the share value after converting the ADR price should be about 10 times the ADR price. However, as of the 19th, the Korean stock price was only 6.82 times the ADR conversion price, which meant that ADR formed a premium of about 46.67% compared to the capital stock. (NATE)

2h ago

Bonk Guy: Major public chains are fully competing for retail investors, liquidity, and users. The on-chain market may explode in this round

Comparing news, crypto KOL “Bonk Guy” Unipcs wrote that the market may have seriously underestimated the scale of development of the on-chain market in this round. Currently, Robinhood, BNB Chain, Base, and Solana are all vying for retail market, liquidity, users, and attention. Unipcs believes that all major ecosystems hope to become the leading chain in this cycle and are willing to invest significant resources to promote ecological growth. It is expected that competition and activity in the on-chain market will further heat up.

3h ago

Korean retail investors are frantically betting on the recovery of the memory chip sector: 118.5 billion won in a single week to buy US memory ETFs

According to data from the Korea Securities Depository and Settlement Agency, Korean retail investors made net purchases of the “Roundhill Memory ETF” between August 14 and 20 this week, making it the second-largest net purchase of the country's overseas individual stocks and ETF investments (after Alphabet, Google's parent company). This ETF is an actively managed product, mainly investing in major memory chip companies such as Samsung Electronics, SK Hynix, and Micron. Recently, memory chip stocks have clearly picked up. The stock prices of SK Hynix and Samsung Electronics rose 21.6% and 21.8% respectively from August 10 to 21, both exceeding the 10.4% increase of the Korea Composite Index (KOSPI) during the same period. In the US market, Micron rose about 11% over the same period, and SanDisk increased by about 32%. South Korea's domestic ETF market also saw capital inflows. The data shows that the net inflow of the “TIGER US S&P500 ETF” tracking the S&P 500 index from August 14 to 20 was 1709 billion won, and the net inflow of the “KODEX US NASDAQ 100 ETF” tracking the NASDAQ 100 index was 132.3 billion won. Market participants believe that as expectations for the recovery of the semiconductor cycle heat up, investors are increasing their allocation to the AI chip and memory chip industry chain. (Daum) This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)

5h agoburnking

South Korea plans to open virtual asset accounts to about 3,500 companies, and the central bank plans to test AI proxy deposit tokens by the end of 2026

Comparing news, Factblock CEO and Korea Blockchain Week organizer Andrew Park said that the Korean crypto market is shifting from being driven by retail transactions to institutional digital finance. The focus of global financial institutions and enterprises has moved from tokens, exchanges, and prices to escrow, tokenization, stablecoins, payment and settlement infrastructure, and regulatory compliance. The Korea Financial Services Commission has proposed a framework to open corporate virtual asset accounts to approximately 3,500 listed companies and registered professional investors. The National Assembly of Korea has officially passed amendments to the Electronic Securities Act and the Capital Markets Act to incorporate tokenized real-world assets and security tokens into a unified legal framework. The Bank of Korea has completed initial testing of the Project Hangang real-world deposit token project and plans to conduct the second phase of institutional testing in late 2026. Related technical experiments have used wholesale deposit tokens to allow AI agents to execute automated conditional transactions. This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)

6h agoburnking

XCAD Network announced the cessation of operations and will consider open source code

According to Twitter, XCAD Network issued an official statement announcing the cessation of operations. The project indicates that the account has not been updated since April, and there are currently no funds left. Remaining on the exchange is a failed struggle, and related products and services are no longer being maintained. Officials say the company has been in operation for five years, and it is one of the few projects that have persisted for a long time without being listed on a Tier 1 exchange. Fan tokens failed to improve after retail investors left the market, and the team tried to move in the direction of AI influencers, but were unsuccessful, and are now unable to continue. The team is considering making the code public for those in need to run it themselves, and emphasizes that this is not a continuation of the company or a restart.

1d ago

CME, CFTC, Kalshi clash fiercely over predictive market regulation

Comparatively, CME Group CEO Terrence Duffy (Terrence Duffy) had a heated confrontation with CFTC Chairman Michael Selig (Michael Selig) and Kalshi Chief Operating Officer Luana Lopes Lara at the US Commodity Futures Trading Commission (CFTC) Innovation Advisory Committee meeting on predictive market regulation issues. Duffy said that some predicted market contracts were at risk of being manipulated, especially some contracts listed through self-certification. He pointed out that some contracts relating to the content of Trump's State of the Union address and the time when Venezuelan President Nicolas Maduro stepped down may have manipulation issues, adding that this is bad for the entire industry. Selig immediately interrupted Duffy, saying that the relevant products he mentioned were not sold in the US, and that the related incident occurred overseas, saying that Duffy's claims were fake news. Duffy responded that he was only raising market risks, and said he could continue discussions if needed. As the forecast market grows rapidly, disputes between US federal regulators and state governments over regulatory powers are also intensifying. Some state governments believe that prediction contracts involving sporting events are gambling and may violate state gaming laws; while Seliger said that the CFTC has exclusive jurisdiction over the prediction market and has initiated lawsuits with several states over related regulatory disputes. Selig said that the CFTC is expected to further revise the relevant rules to strengthen the listing requirements and consumer protection standards for incident contracts, and that regulators have fully listened to the market's concerns about insufficient protection for retail consumers. The prediction market is also facing questions about insider trading and market manipulation in the near future. The US Congress has proposed a bill prohibiting the listing of sports events and casino prediction contracts on registered platforms. Both Kalshi and Polymarket have introduced new anti-insider trading and anti-market manipulation measures. In the latter half of the meeting, Lopes Lara, Kalshi's chief operating officer, asked Duffy if CME had experienced market manipulation issues. Duffy responded that CME regulators have more people than your entire company, and Lopes Lara irked that they should learn how to be more efficient. The two sides then continued to clash over issues such as a credible market. Currently, the prediction market is at a critical point of regulation. Jurisdictional disputes between the CFTC and state regulators, as well as competition between traditional derivatives exchanges and emerging prediction market platforms, may affect the future development path of this market.

1d ago
Millions of dollars are rushing into the market, but some are in a hurry to exit: Pharos's high-interest treasury causes a “view of time” collision

Millions of dollars are rushing into the market, but some are in a hurry to exit: Pharos's high-interest treasury causes a “view of time” collision

Article: Sanqing, Foresight NewsSharos Network joined forces with Vault infrastructure agreement R25 and credit asset management agency Axil to launch Axil Prime Credit Vault (APC), an institutional consumer credit RWA wealth management product issued by Pharos on July 15. The products were launched simultaneously with Binance Wallet, TopNod, OKX Wallet, Bitget Wallet, and KuCoin Wallet, with a total fundraising limit of 100 million USDC, with a target annualization of about 14.3%. As of the closing of the deposit window, a total of $45.39 million had been deposited. This year, there have been frequent security explosions in Web3 on-chain strategies. User funds are looking for new stable income sources, and project parties are also there. Binance Wallet is now offering an additional $300,000 PROS as an incentive to explore RWA Vault's market space, causing the Vault to generate a lot of discussion in the market. The launch time coincided with the redemption period of the Pharos TGE pre-deposit campaign. The previous treasury required the submission of a redemption application about half a month before the end of the lockdown period, stop accruing interest on July 20, and complete the redemption within 7 days. Users accustomed to DeFi T+0 looked back and found that they couldn't help but missed the redemption period and began to question the redemption time and asset safety. R25 and Axil then held an AMA at Binance Square. Well-known KOLs such as Haotian and Tianqing participated in discussions, detailing the differences between RWA assets and DeFi Vault, the role of fund managers (Curators), why consumer credit is worth allocating, and risk management methods from pre-investment to post-investment. In complex asset logic and mixed social media discussions, some users put in one million funds on the last day, while others sought early redemptions from the project party. On July 23, Pharos issued an announcement: Users who submitted applications on time in the previous issue have received all principal and interest, breaking the “financial security” concerns; funds that missed the window will automatically be carried forward to the next three-month cycle according to the treasury's preset rules, and interest will continue to be accrued at 14% USDC per annum. The controversy revealed more important issues than the redemption itself. Although the RWA TVL has exceeded $38 billion, non-institutional chain users are clearly dissatisfied when investing in RWA products. Institution-driven, stable, and high interest rates, but often require longer lockdown periods and complex understanding costs. From DeFi to RWA, is the market really ready? High yield, low threshold, and high liquidity. BlackRock's “impossible triangle” of RWA's BUIDL threshold is $5 million. It is only open to qualified buyers, yet it can be redeemed almost instantly through the stablecoin channel; the APC threshold is so low that ordinary users can buy it at will; instead, it must be locked for three months. Liquidity has never been determined by how high or low the threshold is, but rather how quickly the underlying assets can be realized. The bottom layer of BUIDL is US treasury bonds, and the world's deepest secondary market can take over at any time; the bottom layer of APC is hundreds of thousands of emerging market consumer loans, and few people are ready to buy large amounts of capital at any time. This has formed a triangle that RWA cannot bypass at this stage: high yield, low threshold, and high liquidity; the three can only take two. For example, Franklin Templeton's BENJI starts at $20 (low threshold) and supports daily redemption (high liquidity), and the annualization is only 3% to 5%; if you want double-digit returns, you have to accept non-standard assets and a lock-up period. This is the liquidity premium. A significant portion of the excess income is the consideration for abandoning liquidity. APC, on the other hand, is a combination of high returns and a low threshold, and the cost is liquidity. There is nothing wrong with this trade-off itself; it also explains the full source of this controversy. Retail investors have obtained assets that were originally only open to institutions, and they have also taken over the agency's time rules that focus on long-term matching. The period of use of institutional funds is scheduled before investment, and the lockdown period is a predictable cost; private equity credit and closed-end funds already have redemption restrictions. However, most ordinary users on the chain are not the same; most of the latter's first appeal is to go in and out. So the current “retail” RWA is mostly just distribution-side retailing, to be precise. Web3 wallets and low initial investment amounts have contributed to a low threshold, but the liquidity structure is still designed according to institutional logic. Having understood this triangle, the remaining questions became specific: why must the liquidity side be sacrificed, a high income of 14.3%...

2d agoForesight News#WEB3

Ansem: Retail activity rebounded significantly for the first time in many years, and Q3 may be the bottom of the crypto market

Comparing news, well-known crypto KOL Ansem wrote an article saying that when looking back at the third quarter of 2026 in the future, the market may find that there were actually clear signs of a bottom in the crypto market at that time. Ansem pointed out that retail activity showed a significant upward inflection point for the first time in many years, yet most people in the market interpreted this change as a bearish signal. He believes that this misunderstanding may eventually prove to be an important characteristic of the formation of the bottom of the market.

3d ago#Market topics