Yen Near 40-Year Low as USD/JPY Approaches Key 162 Level, Raising Intervention Concerns 
New Zealand Fast-Tracks Gold Mining as Industry Revival Gains Momentum 
Heineken Names JDE Peet’s CEO Rafael Oliveira as New Chief Executive 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Bain Capital Nears Deal for Majority Stake in Volkswagen Marine Engine Unit Everllence 
Wall Street Slides as AI Stocks Tumble Following South Korea Tech Sell-Off 
Nissan Halts Electric Qashqai Development Amid EV Market Challenges 
Doncasters Raises $919 Million in NYSE IPO as Aerospace Growth Accelerates 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
DOJ Opens Investigation Into NYC Coffee Shop Over Anti-Goldman Social Media Post 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Oil Prices Slip as Iran Sanctions Relief and Hormuz Shipping Recovery Ease Supply Concerns 
South Korea Stocks Tumble as AI-Fueled Rally Faces Profit-Taking Pressure 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
SK Hynix Targets $29.4 Billion Nasdaq Listing to Expand AI Chip Business 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Bithumb Korea reportedly raked in huge revenues from the Netflix hit drama series “Squid Game.” The leading blockchain platform in the country was said to have earned more than 100% through its investment in Bucket Studio, a local media company.
Bucket Studio Co. holds a stake in Artist Company, the agency of the “Squid Game” lead actor Lee Jung Jae. While the studio company has no direct link to the Netflix hit series, it is also earning through the 15% share it owns in Artist Company.
Now, since Bithumb Korea has invested in Bucket Studio, it is also naturally raking in profits. According to The Korea Times, the crypto exchange company spent around ₩15 billion or $12.6 million as an investment into Bucket’s mezzanine financing in May. With this investment, Bithumb has become the second-largest stakeholder at the said media company.
The share price of Bucket Studio rose to ₩4,540 late last week. This is said to be an increase of about 2.5 times within just a month as the stock price was ₩2,130 at closing on Aug. 31. The surge has, in turn, raised the studio’s monetary value, so the shares owned by Bithumb Korea have ballooned to more than double in the past four months and have reportedly reached ₩37 billion.
In any case, “Squid Game” is now the no. 1 series on Netflix U.S., and this feat made it the first Korean drama to achieve this rank. As per the Korea Joongang Daily, based on the survey by FlixPatrol, a streaming analytics firm, the survival drama already surpassed the British teen comedy series “Sex Education” that has always topped the U.S. Netflix ranking chart.
Aside from the United States, “Squid Game” is also popular in 14 other overseas regions such as Singapore, United Arab Emirates, Hong Kong, Vietnam, Kuwait, and Taiwan. Despite getting some harsh reviews from critics, the series still scored 8.3 out of 10 rating on IMDb.
Meanwhile, “Squid Game” also stars Oh Young Soo, Jung Jo Yeon, Park Hae Soo, Wi Ha Joon Kim Joo Ryoung, Heo Sung Tae, and Anupam Tripathi. It was directed by Hwang Dong Hyuk, who also helmed other hits, including “Miss Granny” and “The Fortress.”
