Danny Park

2 days ago | theblock.co | Danny Park

Policy • May 12, 2025, 5:07AM EDT Kim Moon-soo, the presidential candidate from South Korea's main right-wing party, officially announced Monday that he would support the local adoption of spot cryptocurrency exchange-traded funds as part of his election pledges. According to South Korea's National Election Commission, Kim of the People Power Party vowed to allow spot crypto ETFs in the country's financial system, in an aim to foster wealth accumulation in the middle class.

3 days ago | theblock.co | Danny Park

Markets • May 11, 2025, 11:44PM EDT Bitcoin continued its upward momentum, trading around $104,000 as of late Sunday night after crossing the key $100,000 level for the first time in months. Analysts suggested that bitcoin may reach a new record high, though a short-term price correction also remains possible. According to The Block's bitcoin price page, the world's largest cryptocurrency remained relatively steady in the past 24 hours, down 0.12% at $103,926.

5 days ago | theblock.co | Danny Park

Legal • May 9, 2025, 4:18AM EDT German authorities have seized 34 million euros ($38.2 million) worth of crypto assets from the now-defunct crypto swapping platform eXch, the Frankfurt Prosecutor General's Office announced Friday. The cryptocurrency swapping service, which started in 2014, facilitated anonymous exchanges of crypto assets, operating without anti-money laundering protocols or know-your-customer measures.

5 days ago | theblock.co | Danny Park

Companies • May 9, 2025, 2:32AM EDT Hut 8, a Nasdaq-listed energy infrastructure platform focused on bitcoin mining and high-performance computing, reported a net loss of $134.3 million for the first quarter of 2025. The net loss came alongside a quarterly revenue of $21.8 million, a 58% year-over-year decline, and an adjusted EBITDA of negative $117.7 million, which is a 60% drop.

6 days ago | theblock.co | Danny Park

Companies • May 8, 2025, 4:37AM EDT Major payments firm Stripe has launched a new money management feature using U.S. dollar stablecoins. The new product, named Stablecoin Financial Accounts, allows businesses in 101 countries to hold balances in dollar-backed stablecoins, receive funds on both crypto and fiat rails, and send stablecoins globally, according to Stripe's announcement.