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[South Korean Prosecutors Seek 3-Year Prison Sentence for Actress Hwang Jung-eum Accused of Embezzling 4.2 Billion Won in Public Funds to Invest in Cryptocurrency] BlockBeats News, August 22, according to Yonhap News Agency, South Korean prosecutors are seeking a 3-year prison sentence for actress Hwang Jung-eum, who has been indicted for allegedly embezzling 4.3 billion won (approximately $3.07 million) in company funds to invest in virtual currency. On the 21st, during the final trial held at the Jeju District Court's Criminal Division 2 (Presiding Judge Lim Jae-nam), the Jeju District Prosecutors' Office requested the court to sentence actress Hwang Jung-eum to 3 years in prison for violating the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement). Earlier reports stated that on June 17, South Korean actress Hwang Jung-eum (phonetic translation) was indicted for allegedly embezzling approximately 4.2 billion won (about $3.07 million) in company funds to invest in virtual currency. Her agency, Y1 Entertainment, announced on June 17 that Hwang Jung-eum had fully repaid the owed amount in two installments on May 30 and June 5. Previously, around 2022, Hwang Jung-eum withdrew a total of 4.34 billion won from Hunminjeongeum Entertainment, most of which was used for cryptocurrency investments. The case involves violations of the embezzlement-related provisions under the Act on the Aggravated Punishment of Specific Economic Crimes and is currently undergoing judicial proceedings.

On-chain data flagged institutional-sized flows, with nearly 155 million in XRP turnover during recovery periods, far above the 63 million daily average.

The data currently on hand does not support the case for lowering interest rates, said the president of the Cleveland Fed.

A full 65% of those surveyed expect digital assets to deliver stronger growth than equities over the next 10 years.