Civic Group Files Embezzlement Complaint Against Former Kakao Chairman Over KLAY Tokens

Singapore’s DBS Bank has announced the launch of the distribution of crypto-linked structured notes. The development will see structured notes tokenized on the Ethereum blockchain, with the product being made available to eligible non-DBS clients across three digital investment platforms and exchanges. In a press release published to its website on Aug. 21, DBS, the largest bank in Southeast Asia, disclosed that its tokenized structured notes would be made available to the investing public via ADDX, DigiFT and HydraX. These platforms have signed agreements with DBS to distribute its tokenized structured notes, which are debt securities that combine various types of financial products into one offering.Photo by Shubham Dhage on UnsplashFirst token distributionThe development marks a milestone for DBS insofar as it makes for the bank’s first-ever token distribution. The bank explained that the nature of the note means that investors are provided with a cash payout when cryptocurrency prices rise. In this way, the investor can build exposure to the asset class without having to directly manage any digital assets.While this is DBS Bank’s first token distribution, the bank had launched crypto-linked structured notes for its own eligible clients back in September 2024. DBS asserted that demand for the product has been strong, given that it enables investors to run advanced investment strategies related to their digital asset portfolios. ‘The next frontier of financial markets infrastructure’Commenting on the development, DBS Bank’s Head of Foreign Exchange and Digital Assets, Li Zhen, said that “asset tokenization is the next frontier of financial markets infrastructure.” He added that the tokenized product offering addresses a growing institutional appetite for digital assets. Singapore-based Ryan De Souza, APAC partnership lead at blockchain development firm Offchain Labs, described the product offering as an example of the fractionalization prophecy starting to play out. Access to this type of product would typically be available with a minimum investment size of $100,000. With the tokenization of the product, accessibility is increased given that minimum investment has been reduced to $1,000. Each tokenized note represents a fungible $1,000 share of the conventional structure note product. The development is also significant from the perspective of Ethereum. It demonstrates yet another instance of institutional adoption, which increases both liquidity and demand relative to ETH. Tokenized product offerings are likely to gain further momentum given that they bring greater transparency and efficiency by comparison with conventional offerings. DBS outlined that its clients executed in excess of $1 billion in trades involving tokenized structured notes and crypto options within the first half of 2025. Additionally, trade volumes related to these products grew by almost 60% from Q1 2025 to Q2 2025.Singapore-headquartered product distribution partner DigiFT recently partnered with crypto market maker GSR with the launch of its secondary over-the-counter (OTC) trading service for tokenized real-world assets (RWAs). Back in March, DigiFT announced plans to launch an on-chain index fund, backed by a tokenized stock portfolio. ADDX, another Singapore-based platform, had joined forces with OCBC Bank back in 2023 with a view towards facilitating the launch of a tokenized equity-linked structured note.

Seoul Prosecutors to Establish Dedicated Division to Combat Crypto CrimesSeoul Southern District Prosecutors’ Office announced that by the end of this month, it will establish a specialized division dedicated to investigating cryptocurrency crimes, according to local news agency Yonhap. This move marks the introduction of the first-ever cryptocurrency-focused investigation organization within South Korea’s prosecution system.Photo by Markus Winkler on UnsplashInvestigation and legal analysisThe newly formed joint cryptocurrency investigation division will prioritize its efforts on combating various crypto-related crimes, including fraudulent activities. Furthermore, the division will examine legal documents to determine whether certain virtual assets constitute securities.This introduction of a specialized division by the public prosecution is expected to streamline and expedite ongoing investigations into cryptocurrency-related cases, demonstrating the authorities’ dedication to addressing the emerging challenges associated with illicit activities in the crypto sphere.Investor protection effortsSouth Korea has been ramping up its initiatives to safeguard crypto investors. Notably, last month, the National Assembly’s plenary session passed the Virtual Asset User Protection Bill, which is scheduled to take effect in July of next year. Further strengthening the protective framework, the Financial Services Commission (FSC) recently announced a plan to require companies to disclose their virtual asset holdings in the footnotes of financial statements.

Lion Group Holding Ltd (LGHL), a Nasdaq-listed financial services firm that provides an all-in-one platform for traders, has announced that it has secured $600 million to fund a Hyperliquid (HYPE) treasury. In a press release published by PR Newswire on behalf of the firm on June 18, the company outlined that a $600 million funding facility has been put in place by ATW Partners, a New York-headquartered investment firm that manages a number of private equity funds. Global investment bank Chardan Capital acted as the placement agent in facilitating the funding, with the first closing of $10.6 million, as per the subscription agreement.Photo by Towfiqu barbhuiya on UnsplashCorporate treasury strategyLion Group will use that money to launch a new corporate treasury strategy built around Hyperliquid’s HYPE token. Hyperliquid is a decentralized exchange (DEX) which was created by Hyperliquid Labs, a startup founded by Jeff Yan.  The HYPE token is the native token of the Hyperliquid platform. It’s used to secure the network through staking and for project governance. The token is also used to provide transaction incentives, while the Hyperliquid platform buys back HYPE tokens using trading fee revenues. Lion Group’s platform offers its users access to contract-for-difference (CFD) trading, total return swap (TRS) trading, over-the-counter (OTC) stock options trading, while also acting as a futures and securities brokerage. Up until 2022, the firm was based in Hong Kong, opting to relocate to Singapore at that point. Primarily, the company serves corporate clients, individual professional investors and retail investors located in China and throughout the Southeast Asian region. Future of trading is on-chainIn explaining its rationale for pursuing a HYPE treasury strategy, the company’s CEO, Wilson Wang, stated: “Hyperliquid represents a natural extension of LGHL's existing derivatives business into decentralized markets, and reflects our conviction that decentralized on-chain execution is the future of trading." Going forward, the company will pursue a strategic accumulation of HYPE, with the token serving as the firm’s primary reserve asset. In addition to HYPE, Lion Group outlined that it may also allocate funds to purchase Solana (SOL) and Sui (SUI), with these tokens to be staked and custodied with institutional-grade digital asset custodian, BitGo. Lion Group asserted that both of these assets would form “key pillars” of a treasury strategy “focused on execution-first protocols.” Wang added that the company views “protocols like HYPE, with decentralized sequencing, as foundational to building scalable DeFi systems.” The company is not the first mover in terms of launching a HYPE-based corporate treasury. On June 17, Eyenovia, Inc. (EYEN), a Nasdaq-listed ophthalmic technology firm, announced that it had entered into a securities purchase agreement with a view towards financing a $50 million HYPE treasury. Additionally, the firm plans to change its name to Hyperion DeFi and its stock ticker to HYPD later this week to reflect its new HYPE-based reserve strategy. Shares in Eyenovia closed at $4.83 on June 18, down 30.7% over the course of 24 hours. Lion Group shares closed at $3.33, up 19.78%.