A whale deposited 15.5 million USDC into Hyperliquid and went long on 90.7 million USD worth of BTC.

January 8 South Korea’s plan to let banks issue won-backed stablecoins has faced lawmaker pushback, highlighting divisions between the ruling Democratic Party, financial regulators, and the central bank. The country’s Financial Services Commission (FSC) has now reversed course to back the Bank of Korea (BOK)’s proposal, which restricts stablecoin issuance to only bank-led consortia with majority stakes. Under the proposed amendment: - Stablecoins may be issued by consortia where a bank holds a majority stake, but the bank must retain overall majority control (over 50% ownership). - Tech firms can be the single largest shareholder, but their stake must remain less than the bank’s total ownership. The proposal will impose stricter rules on crypto exchanges, including: - Higher IT stability standards - Mandatory loss compensation for hacks - Fines up to 10% of annual revenue Stablecoin issuers will need at least 50 billion South Korean won (≈$3.7 million) in paid-in

On January 8, HabitTrade—a platform focused on stock tokenization, settlement, and issuance—closed a nearly $10 million Series A funding round. The round was led by Newborn Town Inc., with participation from Bright Venture Capital and StableStock. Proceeds from the financing will be allocated to expanding the company’s brokerage services, strengthening regulatory compliance, and accelerating its international expansion. Founded in 2021, HabitTrade aims to bridge traditional assets with the digital asset market, offering an end-to-end brokerage solution covering trading, settlement, and custody. It supports offshore financial asset settlement via stablecoins and advances the tokenization, issuance, and settlement of real-world asset (RWA) stocks.

January 8 — Per monitoring by HyperInsight, a whale’s $12.24M BTC long position was liquidated after triggering a stop loss at 16:51 today. The realized loss totals $15K. The address now holds no positions and is on the sidelines.

**Crypto Update: India Reaffirms Trading Concerns, Flags Tax Enforcement Risks** On January 8, Indian financial regulators reaffirmed their concerns about cryptocurrency trading, warning the activity could complicate tax enforcement. The country’s tax department noted offshore exchanges, private wallets, and DeFi tools pose risks that make tracing crypto income “nearly impossible.” Crypto enables anonymous, cross-border, near-instant value transfers—letting individuals move funds without regulated financial intermediaries. India currently levies a flat 30% tax on all crypto profits, plus a 1% tax deduction on every transfer (regardless of whether it’s profitable). While India formally allows crypto trading under this high-tax regime and approved U.S. exchange Coinbase’s return by 2025, the government’s overall stance on crypto remains cautious and nuanced.

Edel Finance(@edeldotfinance) testnet users continue to grow, now surpassing 35K. A wallet with $468K in profits spent 12 $ETH($38K) to buy 1.26M $EDEL over the past 2 days.