Gate News message, April 21 — South Korean authorities requested the arrest of Park Si-hoo, founder and chairman of entertainment company HYBE, on suspicion of fraud in connection with the company’s initial public offering (IPO). According to multiple reports, Park allegedly told early investors in 2019 that HYBE had no intention to go public, misleading them into selling their shares to a private equity fund linked to his associate. After HYBE’s IPO in 2020, the fund sold its holdings, and Park received approximately 30% of the proceeds—nearly 200 billion Korean won (approximately $136 million)—under a shareholder agreement.
South Korea’s capital markets law stipulates that fraudulent statements regarding financial investment products resulting in gains of 5 billion won ($3.4 million) or more carry sentences of at least five years imprisonment, with life imprisonment as the maximum penalty. Park has been subject to an exit ban since August 2025. South Korean police received the initial tip in late 2024 and formally launched their investigation in 2025, conducting searches at the Korea Exchange and HYBE’s headquarters.
Park has denied all allegations, claiming the IPO was conducted legally and properly.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
ETH and Altcoins Could See Parabolic Surge Upon Following Bullish Russell 2000 ATH Path
ETH and altcoins coils see parabolic surge upon following a bullish indicators.
The Russell 2000 just set a new ATH at 2,798 for the first time.
This new ATH indicator is a bullish signal for altcoins.
The crypto community is pleased to see that both BTC and ETH are trading at higher
CryptoNewsLand6m ago
Bitcoin Tops $75K as Ceasefire Hopes Drive Rally
Bitcoin rose on ETF demand while miners sold BTC; margins tightened and AI/HPC-focused pivots could turn miners into AI data-center players, potentially boosting valuations as AI demand grows.
Abstract: Bitcoin rose on ETF demand amid miner selling and tight margins. The report highlights a strategic pivot by public miners toward AI/HPC infrastructure, signaling a potential shift from pure bitcoin mining to AI data-center services and higher valuation multiples.
CryptoFrontier10m ago
BlackRock CIO Says Stock Market Technicals 'Extraordinary' Amid Record Highs, 97% Semiconductor Earnings Growth
Rieder cites strong stock-market techs and booming earnings, notably 97% YoY semiconductor growth, with positive retail sales and consumer spending underpinning the rally; buybacks nearing $1 trillion fuel demand as S&P 500 tests records.
Abstract: BlackRock CIO Rick Rieder points to extraordinary market technicals and robust earnings growth, led by semiconductors up 97% YoY, with solid retail and high-end spending and massive buybacks around $1 trillion supporting the rally; the S&P 500 hit an intraday high.
GateNews21m ago
BlackRock IBIT Adds 3,355 BTC in $256M Institutional Inflow on April 20
IBIT led Bitcoin ETF inflows with $256M (≈3,355 BTC) on Apr 20, pushing total spot-ETF inflows near $58B and assets over $100B, underscoring rising institutional demand and access via regulated ETFs.
Abstract: This report notes that BlackRock's iShares Bitcoin Trust (IBIT) attracted $256 million in net inflows on April 20, about 3,355 BTC, signaling robust institutional interest in Bitcoin spot ETFs. IBIT dominated daily flows, with Bitcoin ETF inflows totaling over $238 million for the day and cumulative spot ETF inflows approaching $58 billion; overall spot Bitcoin ETF assets exceed $100 billion, representing more than 6% of Bitcoin's market cap. The trend suggests growing institutional confidence in Bitcoin as a long-term asset, aided by regulated access and simplified custody; IBIT remains the leading issuer, though Fidelity and ARK Invest are also attracting capital.
GateNews50m ago
Qualcomm CEO Meets Samsung, SK Hynix, LG on Memory Supply and AI Partnerships
Gate News message, April 21 — Qualcomm CEO Cristiano Amon recently met with executives from Samsung Electronics, SK Hynix, and LG Electronics to discuss memory supply, chip manufacturing, and AI partnerships. The talks centered on addressing Qualcomm's tight LPDDR memory supply as demand for AI
GateNews51m ago
Wantai Biotech Posts First Annual Loss Since IPO as Nine-Valent HPV Vaccine Fails to Offset Declining Revenue
Gate News message, April 21 — Wantai Biotech (603392) reported its first annual loss since listing in 2020, with 2025 net loss attributable to parent company reaching 398 million yuan (approximately $55 million), while revenue declined 18.99% year-over-year to 1.819 billion yuan. The company attribu
GateNews1h ago
