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Finance

Brokerages\' Q2 net profit tops 5.2 trillion won, up 82 percent on stock market boom

South Korean brokerages posted more than 5 trillion won in net profit in the second quarter, helped by a strong stock market and higher trading value. Net profit at 61 brokerages rose 20.0 percent from the previous quarter to 5.19 trillion won, up 82.1 percent from a year earlier. Commission income increased 32.5 percent, led by brokerage fees. Wealth management, investment banking and proprietary trading earnings also improved.

Fintech

Mirae Asset Securities Q2 operating profit nearly 2.49 trillion won, up 397.5 percent year on year

Mirae Asset Securities posted a second-quarter operating profit of 2.49 trillion won, nearly 2.5 trillion won, helped by stronger brokerage and wealth management results and improved performance at overseas subsidiaries. Revenue rose to 21.63 trillion won and net profit to 1.91 trillion won, both sharply higher from a year earlier and the prior quarter. Total client assets climbed to 784 trillion won, while overseas subsidiaries posted about 609.1 billion won in pretax profit.

Crypto

Bitcoin holds near $64,000 as Bitwise, Coinbase chiefs say fundamentals, not price, driving crypto

Bitcoin is trading sideways around $64,000, but U.S. crypto industry leaders say the market’s focus is shifting from price moves to fundamentals. Bitwise CEO Hunter Horsley and Coinbase CEO Brian Armstrong say technology integration and real-world blockchain use are now advancing faster than prices. They point to tokenisation, stablecoin growth and wider smart-contract use. The U.S. regulatory outlook, including a Clarity bill vote, is also in focus.