South Korea\'s Financial Supervisory Service called in major comprehensive investment firms and urged stronger risk management for note issuance and integrated investment accounts, as funding via the products has grown rapidly. It stressed tighter internal controls and liquidity management, and told firms to prepare for stress scenarios. The FSS also highlighted responses to overseas private loan funds, urging early monitoring of redemptions and losses and prompt investor guidance if limits arise.

Bitcoin may face near-term downside pressure as global liquidity tightens, though a rebound remains possible if policy responses and liquidity conditions shift, an analyst said. Hilbert Group CIO Russell Thompson sees broader market liquidity shrinking another 20 to 25 percent. He highlighted U.S. policy variables including SLR rule changes, the Treasury General Account and possible Fed rate cuts. He said bitcoin could end the year significantly higher if liquidity resumes sooner than expected.