Investor Tim Draper said bitcoin’s value against the U.S. dollar could rise to “infinity” over the long term as bitcoin payments spread and could drive fundamental change in the financial system. He said companies may move from accepting bitcoin to accepting only bitcoin, potentially triggering large-scale bank withdrawals. Draper also pointed to U.S. states with pro-crypto environments and reiterated his long-term forecast that bitcoin could reach $250,000, despite repeated deadline revisions.

KB Kookmin Bank has successfully issued a blockchain-based US dollar digital bond, the first such deal by a South Korean bank. The bank said it sold a $100 million two-year digital bond with HSBC as sole arranger. The bond was issued via the HSBC Orion digital asset platform and linked to a clearing and settlement system run by a central securities depository under the Hong Kong Monetary Authority.