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Finance

KOSPI surges 13 percent, reclaims 6,300 level on rebound buying led by chip stocks

South Korea\'s KOSPI surged more than 13 percent in early trade on Friday as rebound buying flowed into large semiconductor stocks after three straight sessions of sharp declines. Buy-side sidecars were triggered shortly after the open on both the KOSPI and Kosdaq. SK Hynix and Samsung Electronics led gains, while Samsung Biologics, KB Financial and LG Energy Solution fell. The won slipped slightly against the dollar.

Crypto

Institutional money heads toward XRP spot ETFs as Gerber discloses holdings

U.S. investment adviser Gerber has newly added 12,958 shares of the Franklin XRP spot exchange-traded fund, disclosure filings show. The report comes as other registered investment advisers in the United States also report positions in XRP spot ETFs, including products from Canary, Franklin and ProShares. Data cited in the report show net inflows into XRP spot ETFs on several July dates, while total assets under management are about $683.66 million.

Crypto

Shiba Inu holders top 1.67 million in dispute over \'fake spread\' in community

The number of Shiba Inu wallets holding SHIB has climbed above 1.67 million, but a dispute has erupted over whether the recent increase reflects genuine user growth. A community member said verified smart contracts tied to WoofSwap create new Ethereum addresses and send small amounts of SHIB, which tracking sites count as holder wallets. WoofSwap rejected the claim, calling it a light experiment for the community.