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(Bloomberg) — As President Trump announced a 25% import tariff on steel and aluminum and the introduction of reciprocal tariffs, investors flocked to safe-haven assets. The dollar was slightly stronger against most G10 currencies, and gold, in particular, surged over 1.7%, breaking through the $2,900 per ounce mark to hit a new high. MUFG assessed that "the increased risk of greater disruption to global trade from additional tariff hikes supports the dollar." However, the New York stock market rebounded with a tech rally, and short-term attention is focused on the U.S. consumer price index and remarks by Fed Chair Powell due this week. Overnight, the dollar-won exchange rate (BGN) closed around 1,451 won, down 3.2 won from the previous trading day, showing relative resilience of the won. In Korea, there seems to be optimism that the impact of Trump's tariffs may not be as significant as expected. Bloomberg economist Kwon Hyo-sung assessed that while the steel industry, which accounts for about 13% of the U.S. export market, would be hit, the overall impact on the Korean economy would not be significant. Barclays also predicted that the impact on Korea could be greatly reduced due to the different composition of trade items between Korea and the U.S. The following are key issues that market participants may be interested in. Gold prices near $3,000 on Trump tariffs, China demand expectations Gold prices hit a record high as Trump announced various tariffs, adding to global financial market uncertainty, and China allowed insurers to buy gold. Spot gold prices soared to $2,911 per ounce on Monday, and if Trump's tariffs continue to shake the market, $3,000 seems only a matter of time. Chinese authorities launched a pilot program last Friday allowing 10 domestic insurers to invest up to 1% of their assets in gold. Minsheng Securities estimated that about 200 billion yuan ($27.4 billion) of funds could be affected by this. Moreover, the People's Bank of China (PBOC) increased its gold reserves for three consecutive months until January this year, indicating a continued push for diversification of foreign exchange reserves despite gold prices being at record highs. In the past, China has typically continued buying gold for several months once it started. During Trump's first term, the PBOC increased its gold holdings for about 10 consecutive months. Westpac Banking stated, "Gold is still in a good position, with little to hinder it," adding, "The inherently unpredictable and disruptive Trump threatens tariffs on both allies and adversaries, and his threat of 100% tariffs on BRICs if they attempt de-dollarization enhances gold's safe-haven appeal." European gas prices hit two-year high European natural gas prices hit a two-year high, and rapidly depleting inventories put Europe at risk of another energy crisis. Dutch TTF futures, which have risen for four consecutive weeks, surged 5.4% to €58.75 per megawatt-hour on Monday, the highest since February 2023. Continued cold weather in Northwest Europe is likely to sustain the early-year rally in natural gas demand. The risk of gas stock depletion is heightened by increased fuel consumption, with inventories already at 49% of total storage capacity, compared to 67% at the same time last year. According to ICIS's monthly outlook, European gas consumption is expected to increase by 17% year-on-year, driven by residential and commercial demand. ICIS predicted that end-of-winter inventories would be only 37%. Global Risk Management reported that not only near-term but also 2026-2027 futures prices have risen. Goldman Sachs 'Hedge funds turn bullish on U.S. stocks' Hedge funds are abandoning their bearish outlook on the U.S. stock market as corporate earnings come in stronger than expected. According to Goldman Sachs' prime brokerage report for the week ending February 7, hedge funds ended five consecutive weeks of net selling and bought U.S. stocks at the fastest pace since November last year. The information technology sector, particularly software and semiconductor stocks, recorded the largest net buying since December 2021. Regarding this move, Vincent Lin, co-head of Prime Insight and Analysis at Goldman Sachs, noted in an investor memo, "It suggests that hedge funds have started to take a more active interest in the AI theme since the DeepSeek-induced stock sell-off on January 27." John Flood, partner and head of U.S. equity sales trading at Goldman Sachs, pointed out, "Amid an uncertain macroeconomic environment, micro data heralds another strong earnings season." Trump's Gaza plan hints at reduced U.S. debt Trump stated in his Gaza plan that Palestinians would not be guaranteed the right to return to that territory. In a Fox News interview, he said, "They will have much better housing, so no," when asked if they have the right to return to Gaza. He said it would take years to rebuild Gaza and instead proposed relocating them to other "safe communities" and developing Gaza as "real estate for the future" that he owns. This is likely to provoke anger from Palestinians and many countries around the world. Meanwhile, Trump said that Elon Musk's Department of Government Efficiency (DOGE) found something unusual while reviewing Treasury Department data, suggesting that "debt may be less than thought." It is unclear whether he was talking about U.S. government debt or payments processed through the Treasury. An anonymous administration official said that DOGE's review and improvement of the Treasury's payment system would reduce future deficits and debt. BP shares soar on Elliott's stake acquisition BP shares surged after a Bloomberg report that Elliott, one of the world's most aggressive activist funds, had acquired a significant stake in BP. BP jumped over 8.2% to trade at 468.9 pence in London trading on Monday, marking the biggest gain since 2020. BP has experienced ups and downs over the past 15 years, from the Deepwater Horizon spill to the sudden dismissal of CEO Bernard Looney amid internal scandals. According to people familiar with the matter, several competitors are crunching numbers on a potential BP merger or acquisition. It is unclear if anyone is seriously considering a merger or acquisition, but the fact that such talks are happening shows how far BP has fallen. Biraj Borkhataria, an analyst at RBC Europe, said, "An activist fund would at least demand a change of BP's chairman." For inquiries related to the article: Kim Dae-do (London), ; Seo Eun-kyung (New York),

Mr. Wang!!

(Bloomberg) — As President Trump announced a 25% import tariff on steel and aluminum and the introduction of reciprocal tariffs, investors flocked to safe assets. The dollar was slightly stronger against most G10 currencies, and notably, gold surged over 1.7% at one point, breaking through the $2,900 per ounce mark to hit a new record high. MUFG assessed that "the increased risk of greater disruption to global trade due to additional tariff hikes supports the dollar." However, the New York Stock Exchange rebounded with a tech rally, and in the short term, the U.S. Consumer Price Index and remarks from Fed Chair Powell, due this week, are in focus. Overnight, the dollar-won exchange rate (BGN) closed around 1,451 won, down 3.2 won from the previous trading day, showing relative resilience of the won. In Korea, optimism seems to be at play that the impact of Trump's tariffs may not be as significant as expected. Bloomberg economist Kwon Hyo-sung assessed that while the steel industry, which accounts for about 13% of the U.S. export market, would be hit, the overall impact on the Korean economy would not be significant. Barclays also predicted that the impact on Korea could be greatly reduced due to the different composition of trade items between Korea and the U.S. The following are major issues that market participants may be interested in. Gold Prices Near $3,000 on Trump Tariffs, China Demand As Trump announced various tariffs, adding uncertainty to global financial markets, and China allowed insurers to buy gold, gold prices hit an all-time high. Spot gold prices soared to $2,911 per ounce on Monday, and if Trump's tariffs continue to shake the market, $3,000 seems only a matter of time. China's authorities launched a pilot program last Friday allowing 10 domestic insurers to invest up to 1% of their assets in gold. Minsheng Securities estimated that this could affect funds amounting to about 200 billion yuan ($27.4 billion). Moreover, the People's Bank of China (PBOC) increased its gold holdings for three consecutive months until January this year, indicating a continued push for diversification of foreign exchange reserves despite gold prices being at record levels. Historically, China has tended to continue buying gold for several months once it starts. Notably, during Trump's first term, the PBOC increased its gold holdings for about 10 consecutive months. Westpac Banking stated, "Gold is still in a good position, with little to hinder it," and "the inherently unpredictable and disruptive Trump, threatening tariffs on both allies and adversaries, and warning BRICs of a 100% tariff if they attempt de-dollarization, all enhance gold's appeal as a safe asset." European Gas Prices Hit Two-Year High European natural gas prices hit a two-year high, and with inventories rapidly depleting, Europe is at risk of falling back into an energy crisis. The Dutch TTF futures, which have risen for four consecutive weeks, surged 5.4% at one point on Monday to €58.75 per megawatt-hour, the highest since February 2023. With the cold weather continuing in Northwest Europe, heating demand is likely to sustain the early-year rally in natural gas. The risk of gas stockpiles being depleted due to increased fuel consumption is present, with inventories already at 49% of total storage capacity, compared to 67% during the same period last year. According to ICIS's monthly outlook, European gas consumption is expected to increase by 17% year-on-year, driven by residential and commercial demand. ICIS predicted that end-of-winter inventories would be only 37%. Global Risk Management reported that not only near-term but also 2026-2027 futures prices have risen. Goldman Sachs: 'Hedge Funds Shift to Bullish View on U.S. Stocks' As corporate earnings came out stronger than expected, hedge funds are abandoning their previous bearish outlook on the U.S. stock market. According to Goldman Sachs' prime brokerage report for the week ending February 7, hedge funds ended five consecutive weeks of net selling and bought U.S. stocks at the fastest pace since November last year. Particularly, the information technology sector, focusing on software and semiconductor stocks, recorded the largest net buying since December 2021. Regarding this move, Vincent Lin, co-head of Prime Insight and Analysis at Goldman Sachs, noted in an investor memo, "It suggests that hedge funds have started to take a more active interest in the AI theme following the DeepSik sell-off on January 27." John Flood, partner and head of Americas Equity Sales Trading at Goldman Sachs, pointed out, "In an uncertain macroeconomic environment, micro data has signaled another strong earnings season." Trump's Gaza Plan Hints at Possible U.S. Debt Reduction Trump stated in his Gaza plan that Palestinians would not be guaranteed the right to return to that territory. In a Fox News interview, when asked if they have the right to return to Gaza, he replied, "They will have much better housing, so no." He said it would take years to rebuild Gaza, and instead, he would relocate them to other "safe communities" and develop Gaza as "real estate for the future that I own." This is likely to provoke anger from Palestinians and many countries around the world. Meanwhile, Trump said that Elon Musk's Department of Government Efficiency (DOGE) found something unusual while examining Treasury Department data, which could mean "the debt might be less than thought." It is unclear whether he is talking about U.S. government debt or payments processed through the Treasury. An anonymous administration official said that DOGE's review and improvement of the Treasury's payment system could reduce future deficits and debt. BP Shares Surge on Elliott's Stake Acquisition BP shares surged after a Bloomberg report that Elliott, one of the world's most aggressive activist funds, had acquired a significant stake in BP. In Monday's London trading, BP jumped over 8.2% at one point to trade at 468.9 pence, the largest gain since 2020. BP has gone through ups and downs over the past 15 years, from the Deepwater Horizon spill to the sudden dismissal of CEO Bernard Looney, who caused internal scandals. According to sources familiar with the matter, several competitors are crunching the numbers on a potential BP merger or acquisition. It is unclear if anyone is seriously considering a merger or acquisition, but the fact that such talks are happening shows how far BP has fallen. Biraj Borkhataria, an analyst at RBC Europe, said, "If it's an activist fund, they would at least demand a change of BP's chairman." For inquiries related to the article: Daedo Kim (London), dkim640@bloomberg.net; Eunkyung Seo (New York), eseo3@bloomberg.net

Hello

(Bloomberg) — As President Trump announced a 25% import tariff on steel and aluminum and the introduction of reciprocal tariffs, investors flocked to safe-haven assets. The dollar was slightly stronger against most G10 currencies, and notably, gold surged over 1.7% at one point, breaking through the $2,900 per ounce mark to hit a new high. MUFG assessed that "the increased risk of greater disruption to global trade from additional tariff hikes supports the dollar." However, the New York stock market rebounded with a tech rally, and in the short term, the U.S. consumer price index and remarks from Fed Chair Powell, due this week, are in focus. Overnight, the dollar-won exchange rate (BGN) closed around 1,451 won, down 3.2 won from the previous trading day, showing relative resilience of the won. In Korea, there seems to be optimism that the impact of Trump's tariffs may not be as significant as expected. Bloomberg economist Kwon Hyo-sung diagnosed that while the steel industry, which accounts for about 13% of the U.S. export market, would be hit, the overall impact on the Korean economy would not be significant. Barclays also predicted that the impact on Korea could be greatly reduced due to the different composition of trade items between Korea and the U.S. in the case of item-specific reciprocal tariffs. Here are the key issues that market participants may be interested in. Gold Prices Near $3,000 on Trump Tariffs, China Demand Gold prices hit a record high as Trump announced various tariffs, adding to uncertainty in global financial markets, and China allowed insurers to buy gold. Spot gold prices soared to $2,911 per ounce on Monday, and if Trump's tariffs continue to shake the market, $3,000 seems only a matter of time. Chinese authorities launched a pilot program last Friday allowing 10 domestic insurers to invest up to 1% of their assets in gold. Minsheng Securities estimated that about 200 billion yuan ($27.4 billion) of funds would be affected. Moreover, the People's Bank of China (PBOC) increased its gold reserves for three consecutive months through January, indicating a continued push for diversification of foreign exchange reserves despite gold prices being at record levels. In the past, China has tended to continue buying gold for several months once it starts. Notably, during Trump's first term, the PBOC increased its gold holdings for about 10 consecutive months. Westpac Banking assessed that "gold remains well-positioned, with little to hinder it," adding that "the inherently unpredictable and disruptive Trump threatens tariffs on both allies and adversaries, and warns BRICs to brace for 100% tariffs if they attempt de-dollarization, all of which enhances gold's safe-haven appeal." European Gas Prices Hit Two-Year High European natural gas prices hit a two-year high and inventories are rapidly depleting, putting Europe at risk of another energy crisis. The Dutch TTF futures, which have risen for four consecutive weeks, surged 5.4% at one point on Monday to €58.75 per megawatt-hour, the highest since February 2023. Continued cold weather in Northwest Europe is likely to sustain the early-year rally in natural gas demand. The risk of gas stock depletion due to increased fuel consumption is present, with inventories already at 49% of total storage capacity, compared to 67% at the same time last year. According to ICIS's monthly outlook, European gas consumption is expected to increase by 17% year-on-year, driven by residential and commercial demand. ICIS predicted that end-of-winter inventories would be only 37%. Global Risk Management reported that not only near-term but also 2026-2027 futures prices have risen. Goldman Sachs 'Hedge Funds Turn Bullish on U.S. Stocks' Hedge funds are abandoning their bearish outlook on the U.S. stock market as corporate earnings come in stronger than expected. According to Goldman Sachs' prime brokerage report for the week ending February 7, hedge funds ended five consecutive weeks of net selling and bought U.S. stocks at the fastest pace since November last year. The information technology sector, particularly software and semiconductor stocks, recorded the largest net purchases since December 2021. Regarding this move, Vincent Lin, co-head of Goldman Sachs' Prime Insight and Analysis, diagnosed in an investor memo that "it suggests hedge funds have started to take a more active interest in the AI theme since the deep-sea stock sell-off on January 27." John Flood, partner and head of U.S. equity sales trading at Goldman Sachs, pointed out that "in an uncertain macroeconomic environment, micro data heralds another strong earnings season." Trump's Gaza Plan Hints at Possible U.S. Debt Reduction Trump said in his Gaza plan that Palestinians would not be guaranteed the right to return to that territory. In a Fox News interview, he replied to a question about whether they have the right to return to Gaza, "They will have much better housing, so no." He said it would take years to rebuild Gaza, and instead, they would be relocated to other "safe communities," and Gaza would be "a real estate development for the future that I own." This is likely to provoke anger from Palestinians and many countries around the world. Meanwhile, Trump said that Elon Musk's Department of Government Efficiency (DOGE) found something strange while examining Treasury data, suggesting that "debt may be less than thought." It is unclear whether he is talking about U.S. government debt or payments processed through the Treasury. An anonymous administration official said that DOGE's review and improvement of the Treasury's payment system would reduce future deficits and debt. BP Shares Surge on Elliott's Stake Acquisition BP shares surged after a Bloomberg report that Elliott, one of the world's most aggressive activist funds, secured a significant stake in BP. BP jumped over 8.2% at one point in London trading on Monday to trade at 468.9 pence, the biggest gain since 2020. BP has experienced ups and downs over the past 15 years, from the Deepwater Horizon spill to the sudden dismissal of CEO Bernard Looney, who caused internal scandals. According to people familiar with the matter, several competitors are crunching numbers on the possibility of BP mergers and acquisitions. It is unclear whether anyone is seriously considering a merger or acquisition, but the fact that such talks are happening shows how far BP has fallen. Biraj Borkhataria, an analyst at RBC Europe, said, "If it's an activist fund, they would at least demand a change of BP's chairman." For inquiries related to the article: Kim Dae-do (London), dkim640@bloomberg.net; Seo Eun-kyung (New York), eseo3@bloomberg.net

<Today's Major Economic Schedule> ▶11th (Tue): △Powell Fed Chair Senate Testimony △Japan Stock Market Closed for National Foundation Day <Today's Major Cryptocurrency Schedule> ▶11th (Tue): △Tezos (XTZ) Paris Meetup △Axie Infinity (AXS) Token Unlock of 815,630 Units △IO.net (IO) Token Unlock of 3,220,000 Units

It seems that the sentiment towards the leading altcoin Ethereum (ETH) has worsened. The short positions (bets on price decline) for Ethereum in the futures market have reached an all-time high. On the 10th, the cryptocurrency specialist media Crypto Briefing reported, citing the Kobyashi Letter, that Ethereum short positions have surged over 500% since November last year, reaching 11,341 contracts, marking an all-time high. The Kobyashi Letter analyzed, "Due to the aftermath of the trade war, Ethereum fell by 37% in just 60 hours. The asset size evaporated in the market due to Ethereum's decline at that time was over 1 trillion dollars." Furthermore, the Kobyashi Letter explained, "Currently, Ethereum is forming a price range 45% lower than its all-time high in November 2021. With the recent increase in Ethereum short positions, volatility like that on the 3rd may continue."

It has been reported that the newly issued meme coin, OfficialTrump (TRUMP), released before President Donald Trump's inauguration, has brought significant profits to President Trump and his partners. The transaction fees alone for the cryptocurrency are said to be nearing $100 million (approximately 145.2 billion KRW). On the 9th (local time), the New York Times reported, citing data from Chainalysis, that President Trump, his family, and partners earned about $100 million from transaction fees of OfficialTrump. OfficialTrump is a meme coin directly issued by President Trump on the 17th of last month. It seems to have absorbed all the buzz surrounding President Trump, as it surged approximately 43,000% to $77 within two days of issuance, compared to its initial price of $0.18. The market capitalization of OfficialTrump surpassed $10 billion within about three days of issuance, overtaking Shiba Inu to rank second in meme coin market capitalization. During this period, as OfficialTrump recorded a steep rise, early investors who invested in this meme coin reportedly made substantial profits. According to Chainalysis data, there are currently about 700,000 addresses that have profited from OfficialTrump. One investor purchased approximately 6 million tokens at $0.18, recording a profit of $109 million (about 160 billion KRW). However, not all investors were able to reap profits. This is because OfficialTrump has been on a continuous decline since the first week of trading. As of 2:21 PM on the 10th (KST), OfficialTrump is trading at $15.61, down 11.27% from the previous day according to CoinMarketCap. It has fallen about 80% from its peak price. As a result, many investors have suffered losses. As of today, a total of 813,294 wallet addresses are recording losses due to OfficialTrump.

It has been reported that Japanese financial authorities are preparing to adjust regulations with Bitcoin (BTC) spot Exchange-Traded Funds (ETFs) in mind. According to industry sources on the 10th, the Japanese Nihon Keizai Shimbun reported that the Financial Services Agency of Japan has begun reviewing the treatment of virtual assets as financial products equivalent to securities. This is interpreted as a move considering the launch of virtual asset ETFs. The Financial Services Agency is currently in the discussion stage, through a private study with experts, on whether the current regulations related to virtual assets are sufficient. Based on the outcomes of this study, they plan to announce the direction of regulatory amendments by June and consult the Financial Council, which convenes after autumn. Following the council's discussions, they plan to submit a related law amendment bill to the regular National Diet session in 2026.

The stock of Metaplanet, which has started accumulating Bitcoin (BTC) while emulating Japan's MicroStrategy, has recorded a tremendous increase over the past 12 months. According to Bloomberg on the 10th, Metaplanet's stock price is currently at 5,970 yen, up 4000% compared to the previous year. This is the largest increase among stocks listed on the Japanese exchange during the same period and ranks among the top globally. According to Simon Zerovich, CEO of Metaplanet, the company was originally engaged in the hotel development business. However, due to the pandemic, most hotels were closed, and the company made a full transition to a Bitcoin accumulation company in 2024. Since then, Metaplanet's shareholders have increased to 50,000, particularly rising by 500% in 2024. Bloomberg reported, "Most investors are known to be individual investors, and most individual investors have invested through Individual Savings Accounts (ISA) specialized for retirement pension preparation." It also added, "Metaplanet has recorded losses for six consecutive years, but it is estimated that the performance turned to a surplus in the fourth quarter of last year." WhaleMovement

According to the top gainers of the Token Mindshare, a metric quantifying the influence of specific tokens in the virtual asset market, from the AI-based Web3 search platform Kaito, the top 5 keywords related to virtual assets that people are most interested in as of the 10th are PumpFun (PUMP), Solana (SOL), Binance Coin (BNB), MegaEther (MEGAETH), and Official Trump (TRUMP). The first and second places are occupied by PumpFun, a meme coin creation protocol based on Solana, and Solana itself. On this day, several significant meme coins were newly issued on PumpFun, amplifying investor interest. The most notable meme coin is the Central African Republic meme coin 'CAR'. According to Dex Screener, CAR is currently trading at $0.4828, a 48,200% surge from its launch price as of 1:15 PM. Binance Coin followed. It is interpreted that Binance Coin made it to the rankings as the meme coin TST, launched on the Binance Coin network last weekend, became a hot topic. The TST coin attracted investor attention by soaring to $0.5280, about four times its listing price of $0.1390, after being listed on Binance on the 9th. The buying frenzy was fueled by rumors of a connection with Changpeng Zhao. However, CZ clarified on his X (Twitter) that he has no relation to the meme coin. He also stated, "I only used the token 'Test (TST)' as an example while creating an educational video explaining how to launch a meme coin, but some Chinese communities promoted it, causing the price to spike." MegaEther took the 4th place. MegaEther gained attention by revealing the minting method for the non-fungible token (NFT) 'The Fluffle' the previous day. It plans to distribute NFTs to 5,000 users holding 1 Ethereum at the snapshot time. Official Trump took the 5th place. Official Trump plummeted by 13.72% in just one day, causing investor concern. Public Citizen, a U.S. consumer rights protection nonprofit and think tank, criticized President Donald Trump's promotion of the meme coin, freezing investor sentiment. The organization pointed out, "Trump used his status as U.S. President to demand a 'gift' for himself." Additionally, investors are showing interest in Dogecoin (DOGE), Solayer Solana (SSOL), Coinbase, and 0G Labs (0G).

It has been reported that Japanese financial authorities are preparing institutional arrangements with Bitcoin (BTC) spot Exchange-Traded Funds (ETFs) in mind. According to industry sources on the 10th, Japan's Nihon Keizai Shimbun reported that the Financial Services Agency of Japan has begun reviewing the treatment of virtual assets as financial products equivalent to securities. This is interpreted as a measure with the launch of virtual asset ETFs in mind. The Financial Services Agency is reportedly in the discussion stage of whether the current regulations related to virtual assets are sufficient through a private study with experts. Based on the outcomes of this study group, they plan to announce the direction of institutional revisions in June and consult the Financial Council, which convenes after autumn. Following discussions in the council, they plan to submit a bill to amend the relevant laws to the regular National Assembly in 2026.

The founder of the well-known blockchain security firm SlowMist has issued a warning about the Central African Republic Meme (CAR). On the 9th (local time), Cos (余弦), the founder of SlowMist, stated on X, "The CAR, reportedly issued by the President of the Central African Republic, has a sloppy launch process," and "The lack of transparency can lead to all sorts of problems. Do not succumb to FOMO (Fear of Missing Out)." He pointed out, "The official website of CAR is still inaccessible," and "Some meme coin trading platforms are introducing malicious sites as the official homepage." He added, "The details of the locked-up volume have not been verified," and "80% of the CAR supply is distributed to six addresses related to the issuer." Previously, Faustin-Archange Touadéra, the President of the Central African Republic, announced the issuance of an official meme coin. The authenticity is still unclear. As of 3:22 PM, CAR is trading at $0.3107, a 314,000% surge from 24 hours ago, according to Dex Screener. Incidents

Former Democratic Party lawmaker Kim Nam-guk, who was accused of hiding virtual assets (cryptocurrency) worth 9.9 billion won during his term as a member of the National Assembly, was acquitted in the first trial. According to the industry on the 10th, Judge Jeong Woo-yong of the Seoul Southern District Court's Criminal Division 9 acquitted former lawmaker Kim, who was charged with obstruction of official duties by deception. Previously, the prosecution had brought former lawmaker Kim to trial, alleging that he falsely reported his assets to hide the fact that his deposit reached 9.9 billion won due to significant profits from coin investments during his asset declarations in 2021 and 2022. Incidents and Accidents

American hip-hop star Kanye West (Ye) has shown interest in virtual assets (cryptocurrency) and is reportedly attempting to contact Brian Armstrong, the CEO of Coinbase. On the 7th (local time), West revealed a message on his X account requesting "information from a virtual asset industry insider without intermediaries." In response, the other party said, "I will provide the contact information of Brian Armstrong, the CEO of Coinbase." The virtual asset industry is paying attention to the possibility of West issuing his own meme coin. The decentralized prediction market platform Polymarket has raised the probability of West launching a meme coin to 46%, up from the previous estimate. On this day, a bet worth $52,000 was placed on Polymarket regarding the possibility of West launching a meme coin. Meanwhile, West previously disclosed on his X account that he rejected a cryptocurrency scam proposal. He stated, "Someone suggested that I issue a fake meme coin and deceive the community to make $2 million," adding, "I rejected the proposal and cut off contact with that person."

There is an opinion that the peak of the virtual asset (cryptocurrency) market has not yet arrived. According to The Daily Hodl, a virtual asset specialist media, on the 9th, Henrik Zeberg, an analyst at Swissblock, argued that the probability that the virtual asset market has already recorded a bull market peak is only 5%. He said, "There are no signs that the virtual asset market has reached its peak at this point," and "I still see an altcoin season coming." He predicted the maximum target price for Bitcoin (BTC) to be $140,000. Zeberg said, "I think people are too negative right now," and "I see the target price for Bitcoin as $123,000 to $125,000. The maximum target price is $140,000." Meanwhile, Zeberg predicted that if the altcoin season comes, major altcoins and meme coins will dominate the market. CelebrityRemarks

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