South Korean lawmakers invest in crypto

A report published in South Korea shows that several local lawmakers have invested in cryptocurrencies such as Bitcoin, XRP, and PEPE, alongside American tech stocks. The investigation, conducted by Energy Kyungjae, focused on members of the National Assembly’s Culture, Sports, and Tourism Committee.

According to the findings, some lawmakers have chosen to diversify their portfolios with digital assets instead of focusing on the domestic KOSPI stock market. Lawmaker Jin Jong-oh (People Power Party) holds over 3,300 XRP and other tokens, with his portfolio increasing from about $1,768 to $9,600 in recent months. His mother has an even larger exposure, including Bitcoin, Chiliz, Sandbox, and 3.2 billion PEPE tokens.

Yang Moon-seok (Democratic Party) disclosed that he holds approximately $1,300 worth of XRP. At the same time, some officials invested in U.S. companies such as Microsoft, NVIDIA, Apple, and Tesla, as well as unlisted Korean gaming firms.