A South Korean funeral company invested customer funds in leveraged Ether ETFs and now holds a $33 million unrealized loss.
A South Korean funeral company placed some customer funds into leveraged Ether ETFs. The investments have left the firm with a $33 million unrealized loss at present.
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Bitcoin and Ether posted their steepest weekly declines since the 2022 FTX collapse as the broader crypto market shed roughly $390 billion in value. The selloff followed a strong U.S. jobs report and mounting concerns over interest rates and competition from AI investments.
Tom Lee's Ethereum portfolio currently shows a $7.35 billion loss following a slump in ETH prices.
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Ethereum fell to $1,506, its lowest price since April 2025, as spot ETF outflows exceeded $870 million over four weeks. The decline coincides with rising exchange deposits and deleveraging in derivatives markets.
Digital asset investment products recorded $1.47 billion in outflows last week. Bitcoin funds drove most of the redemptions amid higher interest rate expectations.
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South Korean stocks closed sharply lower on June 5 as investors locked in profits from recent tech gains amid uncertainty over U.S.-Iran peace negotiations.
South Korean stocks have doubled in value so far this year.
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XRP-linked investment products attracted roughly $42 million in net inflows over the past week. This occurred even as U.S. spot bitcoin ETFs lost more than $1.4 billion and ether funds also shed assets. On-chain data showed a one-day spike of about 4,300 new XRP wallets.