Bloomberg: Ripple Ruling Boosts Market Sentiment, Cryptocurrencies Edge Up Again
According to Bloomberg, major cryptocurrencies edged up on Thursday after Ripple Labs Inc. was ordered to pay a $125 million fine, a result the company sees as a victory against the U.S. Securities and Exchange Commission (SEC).
Bitcoin rose by as much as 4.5%, surpassing $57,600, while Ethereum, the second-largest token by market value, briefly rose by nearly 5%. However, both tokens remain well below their levels from a week ago.
Meanwhile, global stock markets experienced a sell-off.
Sesame Commentary: Although the Ripple ruling sparked a short-term market optimism, leading to slight increases in Bitcoin and Ethereum, the overall market remains volatile. The ruling is seen as a victory for Ripple in its battle against the SEC, perhaps indicating a potential easing of regulatory environment for cryptocurrencies. However, the market's confidence as a whole still requires more positive signals to stabilize.
Zhu Su: The Real Bull Market Has Not Yet Begun
Zhu Su, co-founder of Three Arrows Capital, posted on social media, "The real bull market has not yet begun. People's attention spans are getting shorter, but the cycles are getting longer. Either be prepared for the next few decades, or just give up."
Sesame Commentary: Zhu Su's viewpoint reflects his optimistic outlook on the long-term prospects of the cryptocurrency market, while also reminding investors to maintain patience and a long-term perspective. In an environment dominated by market fluctuations and short-term emotions, adhering to long-term strategies and a deep understanding of market cycles will be key to success.
South Korean IT Giant Kakao Founder Arrested and Prosecuted for Stock Price Manipulation
South Korean IT giant Kakao's founder and chairman of the Economic Reform Committee, Kim Beom-su, was arrested and prosecuted by the prosecution on the 8th for alleged stock price manipulation. The Seoul Southern District Prosecutors' Office arrested Kim Beom-su on suspicion of violating the Capital Market Act.
The prosecution suspects that Kim Beom-su manipulated the stock price during Kakao's acquisition of SM Entertainment in February last year, raising the stock price of SM Entertainment to over 120,000 Korean won per share, hindering the bid for HYBE, a competitor.
In addition, former Kakao representative Hong Eun-seok and former Kakao Entertainment representative Kim Sung-su were both not arrested and directly prosecuted.
Sesame Commentary: The allegations of stock price manipulation against Kakao's founder Kim Beom-su will have a significant impact on the company's reputation and market trust. This incident highlights the importance of compliance with regulations and ethical standards in the financial market. In the future, the company needs to strengthen its internal controls and compliance mechanisms to avoid similar incidents and rebuild investor confidence.
Top Trader Eugene: When Looking Back at the 2023-2024 Period, It Will Be Called the SOL Super Cycle
Top trader Eugene Ng Ah Sio posted on social media, "I think when we look back at the 2023-2024 period, it will be unanimously called the SOL super cycle. From the price trend perspective, it is almost the only major currency that has substantially repriced against any trading pair on a high timeframe."
Sesame Commentary: Eugene's comment emphasizes Solana's (SOL) strong performance during the 2023-2024 period. SOL's repricing and price trends demonstrate its significant position in the market. With its ecosystem continuing to expand and ongoing technological innovation, SOL is expected to continue leading the market in the future. However, investors still need to pay attention to market dynamics and potential risks.
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