South Korea plans to inject up to 1 trillion won into its sovereign wealth fund for strategic industries including AI next year.
Gyeong-seol Min, head of the Innovation Growth Division at South Korea’s Ministry of Economy and Finance, stated that South Korea plans to allocate between 600 billion won (approximately $424 million) and 1 trillion won (around $707 million) in new funds next year to a new sovereign wealth fund targeting strategic industries such as AI. The final investment amount could exceed initial expectations, depending on the specific targets selected and their funding requirements. Min added that there are currently no plans for the fund to make direct investments in Samsung Electronics or SK Hynix.
In July this year, the South Korean government announced it would establish a new "Strategic Industry Investment Account" under the Korea Investment Corporation (KIC), with initial funding of at least 20 trillion won (approximately 94 billion yuan). The fund’s investment scope includes AI, semiconductors, data centers, core overseas supply chain enterprises, and other related sectors. The government plans to officially launch and operate the "Korea-style sovereign wealth fund" next year, which will also target infrastructure such as robotics, energy, batteries, and power grids. Nuclear energy, space, and quantum technologies are also under consideration for inclusion.
1 seconds ago
Abraxas Capital’s associated wallet cluster holds a total of 1,379,200 XAUT tokens, valued at approximately $600 million.
According to monitoring by OnchainLens, Abraxas Capital has transferred its holdings of 101,000 gold tokens XAUT, valued at approximately $43.92 million, to another wallet. Over the past three days, the firm has moved a total of 254,000 XAUT (around $110.46 million) between two wallets, with the majority of its XAUT holdings originating from Bitfinex. The total holdings of its associated wallet cluster stand at 1.3792 million XAUT, worth roughly $600 million.
1 seconds ago
A certain genesis wallet holding 2,680 ETH has been activated after lying dormant for over 11 years, with a current value of approximately $5.05 million.
According to monitoring by Onchain Lens, an Ethereum genesis wallet holding 2,680 ETH, currently valued at approximately $5.05 million, has become active for the first time after over 11 years of dormancy. The wallet’s holdings were worth roughly $830 in 2015, representing a profit multiple of more than 6,080 times.
1 seconds ago
The SEC and CFTC have jointly sued Goliath Ventures over a $400 million crypto Ponzi scheme, and the firm’s founder has pleaded guilty and agreed to a settlement.
The U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) today filed separate civil lawsuits against Goliath Ventures and its founder Christopher Delgado, accusing them of operating a crypto Ponzi scheme through unregistered securities offerings. The firm raised at least $425 million from over 1,300 investors, promising to deploy funds into crypto liquidity pools for monthly returns of 3% to 10% while guaranteeing principal safety. In reality, no funds were actually invested; the company used new investors’ capital to pay early backers, fabricated account balances and performance metrics, and paid commissions to sales agents who recruited investors. Delgado personally embezzled at least $51 million for luxury spending. In its parallel lawsuit, the CFTC noted that roughly 1,600 customers were lured into trading bitcoin and ether, suffering combined losses of at least $397 million. In November 2025, the firm could no longer quickly raise enough funds to meet redemption obligations, and collapsed entirely after halting monthly distributions. Delgado had previously pleaded guilty to charges of conspiracy to commit wire fraud, wire fraud, and money laundering. The U.S. Department of Justice stated on June 30 that at least $400 million flowed into Goliath. Delgado admitted to causing at least $250 million in investor losses and agreed to forfeit real estate, vehicles, luxury goods, bank accounts, and crypto wallets traceable to the scheme. Delgado has agreed to a split settlement with the SEC, subject to court approval, which will permanently bar him from violating relevant securities laws, engaging in securities trading (except for personal accounts), and associating with broker-dealers. The court will separately rule on the disgorgement of illegal proceeds, pre-judgment interest, and civil penalties.
1 seconds ago
Super Micro Computer reported fourth-quarter revenue of $11.12 billion, nearly doubling year-over-year, with its shares surging 7.56% in after-hours trading.
Super Micro Computer (SMCI) released its fiscal 2026 fourth-quarter financial results, reporting revenue of $11.12 billion, nearly doubling from $5.76 billion in the year-ago period, though slightly missing analysts' expectations of $11.3 billion to $11.6 billion, mainly due to delays from customers related to power, cooling and networking. Gross margin improved sharply to 17.5%, exceeding not only the company’s preliminary forecast of 15% to 17% last month, but also the initial expectation of 8.2% to 8.4%. Adjusted earnings per share (EPS) came in at $1.70, far surpassing analysts’ estimate of $0.92; net profit reached $1.17 billion, compared to just $195.2 million in the same period last year. The company also issued strong guidance: it projects revenue of $14.5 billion to $15.5 billion for its first fiscal quarter (ending in September), with adjusted EPS of $1.01 to $1.10, well above analysts’ consensus estimate of around $12 billion; fiscal 2027 revenue guidance is set at $65 billion to $72 billion, far exceeding analysts’ expectations of $52.5 billion to $54.4 billion. New orders exceeded $60 billion, while backlog hit an all-time record; nine clients each contributed over $1 billion in revenue in fiscal 2026, compared to four in the year-ago period. According to market data from BIT (bit.com), SMCI closed up 0.45% and rose an additional 7.56% in after-hours trading.
1 seconds ago
App Store
Profile
Security
Sign Out
Feeds
Articles
Source
Add to Favorites
Download image
Share x
Copy link
