Finance

FSC holds emergency check on stock market plunge, urges restraint on credit provision

South Korea’s financial authorities launched an emergency market check after a sharp fall in local stocks. They urged financial companies to refrain from indiscriminate credit provision and to strengthen risk management. Authorities and related agencies agreed to stay alert to heightened volatility while guarding against excessive anxiety and sharp herding. They also said they would step up monitoring for market-disrupting activity and be ready to implement contingency plans quickly if needed.

Crypto

Arthur Hayes says AI infrastructure is overheated and crypto will be the ultimate winner

Arthur Hayes (아서 헤이즈) said excessive investment in AI infrastructure could lead to a downturn and subsequent liquidity injections, which he expects cryptocurrencies to benefit from the most. Speaking in Singapore, he said trillions of dollars are being wasted on AI data centres and warned that new capacity could result in oversupply. He projected major new data centres would come online in late 2027 to 2028, potentially depressing the market.