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Crypto

U.S. federal debt tops $40 trillion, bitcoin long-term thesis re-emerges

U.S. federal debt has surpassed $40 trillion for the first time, reviving arguments that bitcoin should be viewed as a scarce, non-sovereign asset. Market views differ on whether debt expansion supports long-term demand, while near-term prices remain more sensitive to interest rates and the dollar. The move coincided with U.S. Treasury steps aimed at calming long-term bond selling. Bitcoin has risen above $73,000 amid mixed interpretations of the rally.

Finance

Hana Bank signs won swap deal with RFI, first for South Korean banks

Hana Bank signed a won swap deal in London with a foreign bank registered as a Recognised Foreign Institution, it said. The bank said it was the first time a South Korean bank had concluded a won swap transaction with an RFI. Hana said its London funding centre supplied won liquidity directly to overseas won swap demand. It plans to expand the centre’s scope from FX and remittances to sales of won government bonds, domestic stocks and won derivatives.

Crypto

Bitcoin rallies past $73,000 after short squeeze and ETF inflows; analysts eye next catalysts

Bitcoin climbed above $72,000 to break past $73,000 on Aug. 20, rising about 15% since Aug. 16. The jump triggered more than $3 billion in crypto short liquidations, with Bitcoin short liquidations the largest since at least 2021, Decrypt reported. Markets cited U.S. Treasury long-term bond purchases, comments on possible Bitcoin buying by U.S. President Donald Trump, a short squeeze and $517 million in spot Bitcoin ETF inflows. Analysts differ on whether gains can hold.