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AI & Enterprise
PIPC fines Bithumb 210 million won for violating overseas transfer of personal data
South Korea\'s Personal Information Protection Commission on June 24 imposed a 210 million won fine on Bithumb for violating rules on overseas transfers of personal data and approved an order to take corrective steps to meet legal requirements. The commission launched an investigation after questions were raised during a 2025 parliamentary audit about the legality of personal data transfers linked to sharing an order book. It also established privacy guidelines for blockchain services.
Industry
SpaceX IPO day nears; three variables investors should watch
Arbitrage competition is intensifying in crypto markets over SPCX-USDC synthetic perpetual futures ahead of SpaceX’s planned Nasdaq listing on June 12. The contract on Hyperliquid already reflects a valuation around $2 trillion, while the IPO targets $1.75 trillion and $75 billion in fundraising. Investors are watching how quickly synthetic prices converge to the stock after trading begins, potential U.S. regulatory scrutiny of pre-IPO synthetic products, and SpaceX’s disclosed holding of 18,712 bitcoin.
Crypto
Crypto market prices SpaceX ahead of possible Nasdaq listing as SPCX bets spread amid regulatory gap
Ahead of the possibility of a SpaceX Nasdaq listing in June, crypto markets are pricing SpaceX-linked products across derivatives, exchanges, prediction markets and tokenised stock platforms. Prices and implied valuations vary widely. Products include synthetic perpetual futures and pre-IPO contracts that do not provide equity ownership. Prediction markets bet on post-listing market-cap ranges. Tokenised stock offerings could follow, but past pre-IPO tokens have fallen sharply. Regulators have not stated whether the products are unregistered securities or swaps.
