Korean Cryptocurrency Exchanges’ Commission Sales Spike 85x in 2017
- According to data released on Sunday by a politician from South Korea’s ruling Democratic Party, the accumulated sales from commissions among 30 cryptocurrency exchange operators is said to have reached 700 billion won ($648 million) in 2017, Yonhap reports.
- The government reportedly aided in compiling the data which was based on the sales of commissions and bitcoin trading prices released by various exchange operators.
- The report also reveals Upbit as country’s leading cryptocurrency exchange operator occupying over half of South Korea’s cryptocurrency trading market at 52.9%.
- While Upbit is said to have amassed 194.3 billion won ($182 million) in commission sales, the estimated sales by Bithumb, in particular, is believed to have reached 317.7 billion won ($297 million).
- Rumors of following China’s lead in shuttering cryptocurrency exchanges after the turn of the year were put to bed after the South Korean government – after a significant public backlash – confirmed there was no intention to issue a sweeping ban on cryptocurrency trading.
5G is helping make this the most high-tech Olympics ever
- Major companies like Samsung and Intel are showing off their technology, including self-driving cars, virtual-reality viewing stations and super-fast video streaming.
- Intel is hoping to dazzle fans with the technology by offering new ways of watching Olympic athletes.
- It's set up 5G stations to track cross-country skiers, deployed dozens of cameras inside an ice arena, and made this the first Winter Olympics to be broadcast live in virtual reality.
- The company says it's running simulated snowboarding and cross-country skiing competitions for fans, as well as a virtual reality "space mission" designed to let guests experience the feeling of lunar gravity.
- But in just a few years' time, he envisions the Olympic Village becoming a "smart city," where cars can send real-time data to traffic lights, and display boards can transmit information people are looking up on their phones.
23 passengers removed from cruise ship after brawls
- Cellphone video from the ship shows passengers on the Carnival Legend tussling with each other and security officers amid shouting and screams from alarmed onlookers.
- The video also shows security officers kicking passengers after they were down on the floor.
- Another cellphone video, published by Melbourne radio station 3AW, showed passengers cheering as police removed the men from the cruise ship Friday.
- NSW Police said in a statement they were told several men fought in the early morning hours Friday while the ship was about 220 kilometers (137 miles) off Jervis Bay, New South Wales.
- Security officers on the ship intervened and detained the men before notifying police, police said.
- According to the cruise line's website, the ship is able to accommodate 2,100 passengers.
- Carnival said it would offer a 25% discount to these passengers on future cruises as a goodwill gesture.
Trump tariffs on steel would hit China -- and the entire global trading system
- Limiting or taxing steel imports could also hit Canada, Brazil, South Korea, and Russia — and the implications could ripple throughout the entire trading system.
- However, China is not the top country from which the United States imports steel.
- It imports 13% from Brazil, 10% from South Korea, 9% from Mexico and 9% from Russia, according to a Department of Commerce report from December 2017.
- Trade experts say that if Trump goes that route, even U.S. allies like Canada, South Korea, Mexico could be willing to retaliate, sticking tariffs of their own on U.S. exports like agricultural products, or picking non-U.S. goods — like Airbus planes over Boeing models.
- If Trump invokes Section 232 of the Trade Expansion Act, as is recommended, that means he believes steel imports are hurting national security.
Bitcoin Eyes $12,000 in South Korea as Demand For Cryptocurrency Rises
- Since early February, the cryptocurrency market has continuously recovered, but major cryptocurrencies with robust infrastructures, community support, and network effect have had an edge over other alternative cryptocurrencies.
- During a recovery period, wherein new investors and traders enter the space as the market begins to see gains, cryptocurrencies with strong network effect such as bitcoin has a strong advantage over other alternative cryptocurrencies.
- The demand for bitcoin and other cryptocurrencies has been on the rise in the South Korean cryptocurrency market, as the “Kimchi Premium” reappeared on major cryptocurrency exchanges including Bithumb and Korbit.
- South Korea’s cryptocurrency exchange market only accounts for around 6 percent of global bitcoin trades but for altcoins, the country remains as one of the largest markets.
- Since the cryptocurrency market experienced a major correction in January, most analysts in the South Korean market did not expect the market to begin its recovery period in February.
SA election: Jay Weatherill invokes Elon Musk vision in election pitch
- South Australian Premier Jay Weatherill promised a $2 billion infrastructure spending program that includes part-funding a new $700 million deepwater port to help miners and grain farmers export from the Spencer Gulf region, as he invoked the spirit of entrepreneurs Elon Musk and Sanjeev Gupta in his re-election push.
- The Labor Party has been in power in South Australia since 2002 and Mr Weatherill is seeking to extend that to an extraordinary 20-year stretch if he wins the March 17 election.
- Nick Xenophon, who exited from the Senate at a federal level late last year to head the new SA Best party, is a thorn in the side of both major parties and experts are predicting he will hold the balance of power in the 47-seat lower house in South Australia.
Why sponsors are breaking up with the Olympics
- Olympic sponsorship deals are expensive -- companies reportedly pay upward of $200 million for a 4-year sponsorship.
- And McDonald's prematurely ended its deal with both the USOC and the International Olympic Committee in June.
- The moves by Budweiser and McDonald's are significant because both companies had been with the Games for over three decades.
- Michael Payne, the former head of the IOC's marketing and TV rights, said the IOC's global deals are typically stable and long term.
- He cited Coca-Cola, Visa, Panasonic, Samsung and Omega as examples of long-term partners and noted that the IOC has several deals that last through the 2028/2032 cycles of the Games.
- Payne said the new Asian partnerships show a "realization of the global marketplace." In the past, the IOC was "criticized for all partners being American," according to Payne.
The world's richest people are abandoning London, Rome, and Paris for an unexpected destination
- Kenya is often recognized as one of the best and most beautiful travel destinations for African safari in the world.
- Kenya's 19 game reserves and vast Indian Ocean coastline drew more than 1.4 million tourists to the country last year, many of whom were visiting from other parts of Africa.
- But some of the wealthiest tourists aren't just one-time visitors; they're actually buying property there, according to a new report from Knight Frank, a London-based real estate consultant.
- Kenya is among the top-five most popular second home locations for the wealthiest people in Africa.
- While the market for beachfront vacation homes is, at present, dominated by rich families from Nairobi, about 4% of the global high-net-worth population has interest in owning a home in Kenya, according to Knight Frank research.
- Below, take a look at what is drawing the world's wealthiest people to Kenya.
Cryptocurrency Market Recovers to $500 Billion, Bitcoin Records Gains
- For the first time in February, the cryptocurrency market has recovered to $500 billion, as most major cryptocurrencies including bitcoin and Ethereum recorded large gains in the past two days.
- The daily trading volume of bitcoin across all major cryptocurrency exchanges has been stronger in the last 24 hours than any period in the past week, which demonstrates sufficient momentum to lead a short-term rally in the upcoming days.
- Earlier this week, several mainstream media outlets in South Korea reported that many families have sent children and young adults bitcoin as the traditional lunar new year pocket money, instead of cash.
- But, a significant amount of positive press have come out due to such instances, and consequently, the demand for bitcoin within the local South Korean market has started to increase once again.
Potential 2020 hopeful Garcetti heads to South Carolina for Dem fundraiser
- Garcetti is traveling to the state for a two-day conference hosted by Accelerator for America, the non-profit group that he launched last year to develop policy with other mayors, business leaders and philanthropists.
- Garcetti and Benjamin will address the private South Carolina Democratic Party fundraiser on Wednesday night, according to sources with knowledge of the event.
- While some have questioned whether a mayor could make the leap to the White House, Garcetti often notes that Los Angeles has a larger population than that of 23 states.
- The Accelerator for America gathering next week will also give several other high-profile mayors, including South Bend, Indiana, Mayor Pete Buttigieg, a platform to speak to voters in South Carolina, an early contest state that will play a critical role in selecting the next presidential nominee for the Democratic Party.