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Chinese-American crypto investor Harry Yeh fell from a 30-story building in Paraguay, and the police are investigating the cause of death

According to La Tribuna, the body of a Chinese man was found outside the Jade Park high-rise apartment in the Trinidad district of Asunción, Paraguay. Preliminary identification confirmed the identity as Harry Chun Tak Yeh, the founder and managing partner of Quantum Fintech Group. The police stated that he is suspected to have fallen from the 30th floor of the building, and his body was found completely naked and covered with a black plastic bag. Investigators found the apartment door on the 30th floor ajar, with the interior in disarray, and confirmed that he also owned another apartment on the 27th floor of the same building. Criminal technicians have collected evidence outside the building and from both apartments, and relevant physical evidence has been handed over to the prosecution. The prosecution is currently investigating multiple possibilities, including accident, suspected suicide, and homicide, while the judicial department will determine the specific cause of death and the circumstances through an autopsy.It is reported that Chinese-American cryptocurrency investor Harry Yeh entered the Bitcoin market in 2013 when the BTC trading price was $60. He launched his first fund with $250,000, and his investment network claims to manage over $2.4 billion in assets, closely linked with Fantom, Tomb Finance, Lif3, ZooCoin, L3 USD, and L3 Reserve.

hot_img Expected direction of South Korea's secondary regulations on security tokens: allowing asset pooling and setting trading limits for general investors

According to the expected plan compiled by the Korea Digital Convergence Industry Association, the secondary regulations for Security Token Offerings (STO) in South Korea may include: allowing "pooling" issuance of similar types of underlying assets, setting over-the-counter trading limits for general investors, clarifying the licensing conditions and business scope for non-standard securities over-the-counter exchanges, and developing a phased roadmap for the tokenization of standard securities. In addition, the technical and financial requirements for issuer account management institutions are also expected to be included in the regulations.This expected plan is based on publicly available policy directions and industry discussions and is not an official version. Specific standards still need to be determined through legislative announcements, regulatory reviews, and other procedures. Previously, the STO market was primarily focused on single assets; if pooling is allowed, it could promote the issuance of multi-asset composite products such as music copyrights and real estate. The over-the-counter trading limits for general investors are expected to be higher than existing sandbox cases, but the final limits still need to balance investor protection and market liquidity. The status of non-standard securities over-the-counter trading platforms and existing operators, as well as the future path for the tokenization of standard securities (stocks, bonds), will be key focuses moving forward. The industry warns that after the regulations are implemented, the preparation time for related companies' systems and internal controls may be quite urgent.

The effect of South Korea raising the margin threshold is becoming apparent: retail investors are reducing their holdings in leveraged ETFs and turning to spot purchases

According to Daum, after South Korea's financial regulatory authorities raised the base margin for domestic and foreign single-stock leveraged products from 10 million won in securities to 30 million won in pure cash starting July 31, South Korean retail investors began to rapidly adjust their portfolios.According to data from the Korea Securities Depository, Tesla's 2x leveraged product TSLL recorded a net purchase of 14.58 million USD on August 3, but the purchase amount on the 4th plummeted from the previous day's 15.6 million USD to 1.56 million USD, while the selling amount rose to 8.68 million USD, resulting in a net sell of 7.11 million USD for the day. During the same period, Tesla's spot net purchases reached 42.3 million USD, more than five times the net purchase amount of TSLL.Micron Technology and SanDisk also showed similar divergence—Micron's 2x leveraged product flipped from a net purchase of 10.81 million USD on the 3rd to a net sell of 15.98 million USD on the 4th, while SanDisk's 2x leveraged product changed from a net purchase of 17.74 million USD to a net sell of 33.74 million USD. Meanwhile, the spot net inflows for the two companies were 148 million USD and 145 million USD, respectively, indicating a significant trend of funds shifting from leveraged tools to the underlying stocks.The tightened regulations require that the base margin must be paid in cash, with alternative securities such as stocks, ETFs, and bonds no longer counted, and existing investors must also meet the new standards when making additional purchases; selling is unrestricted, but the funds from sales must be settled after T+2 days before they can be counted as cash margin.The new rules were originally planned to be implemented in phases in August, but due to concerns that limiting it to Korean products would lead to a capital influx into overseas leveraged products like Tesla and Nvidia, creating a balloon effect, South Korean regulators moved the implementation date up to July 31 and simultaneously covered both domestic and foreign products.South Korean investors have reacted strongly, believing that extending measures aimed at local market volatility to overseas products constitutes excessive intervention, and that only South Korean investors must meet the 30 million won cash threshold, putting them at a disadvantage in global competition.
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