Asia Morning Briefing: Thai Banks Set to Hold Crypto Assets as SCB 10X CEO Signals Regulatory Progress and Innovation
PLUS: Kaweewut Temphuwapat, new CEO of SCB 10X, foresees growing crypto deal activity and AI-driven fintech growth in Southeast Asia.
Welcome to Asia Morning Briefing, your daily roundup of key news from overnight U.S. trading hours and important market updates across Asia. For a full U.S. market review, check out CoinDesk’s Crypto Daybook Americas.
Uniswap’s UNI Token Climbs 5% on Robust Volume Amid Institutional Interest
Uniswap’s UNI token surged from $6.00 to $6.65 in the past 24 hours, up 5%, outperforming the broader CoinDesk 20 Index, which fell 1.8%. The decentralized exchange is seeing its highest monthly trading volume since February, surpassing $73 billion, contributing to over $380 million in revenue this year. A large whale re-entered the market with a nearly $4 million UNI purchase, adding fuel to the rally.
SCB 10X’s New CEO Predicts Crypto Growth Fueled by Regulation and AI
Kaweewut Temphuwapat, newly appointed CEO of SCB 10X — the venture capital arm of Thailand’s Siam Commercial Bank — highlighted the convergence of AI and crypto as a major investment focus.
“We are strongly invested in the intersection of AI and crypto,” Temphuwapat told CoinDesk, emphasizing the potential of this hybrid sector.
He expects clearer crypto regulatory frameworks in the U.S. to drive increased deal flow into Southeast Asia’s resilient markets. Praising Thailand’s forward-looking regulators and solid payments infrastructure, Temphuwapat anticipates Thai banks, including SCB, will soon hold crypto assets on their balance sheets, initially through sandbox environments.
James Wynn Transitions From Billion-Dollar Bitcoin Bets to Leveraged Memecoin Plays
Pseudonymous trader “James Wynn,” known for massive bitcoin trades on the Hyperliquid platform, has shifted focus to memecoins, opening a leveraged $1 million long position on Pepe (PEPE).
After closing a $1.2 billion BTC long position at a $17.5 million loss and profiting about $3 million on a 40x short, Wynn announced stepping back from perpetual futures trading with total gains of $25 million.
His new Pepe bet is already showing gains of $500,000 amid a nearly 6% rise in the memecoin’s value.
Strategy (MSTR) Adds 4,020 BTC to Holdings, Total Now Exceeds 580,000 Coins
Strategy, the largest corporate bitcoin holder, purchased 4,020 BTC in recent days for approximately $427 million, pushing total holdings to 580,250 BTC.
The acquisition was financed through three simultaneous at-the-market equity programs involving sales of common and preferred shares, totaling around $427 million.
The average purchase price for this tranche was $106,237, bringing Strategy’s overall bitcoin investment to over $40.6 billion at an average cost of $69,979 per coin — a testament to its ongoing, steady accumulation strategy funded by equity offerings.
Market Snapshot
- Bitcoin (BTC): Trading near $109,000, consolidating gains amid low U.S. volume and tariff-related uncertainty, with strong accumulation by long-term holders.
- Ethereum (ETH): Maintaining above $2,500, supported by steady institutional inflows into spot ETH ETFs.
- Gold: Slight dip following tariff delays, remaining above $3,310 as inflation concerns persist.
- Hang Seng: Opened lower at 23,304, pressured by tech sector declines including Meituan’s 4.9% fall.
- Nikkei 225: Slight decrease of 0.13%, as investors weigh tariff developments.
- S&P 500: Closed Monday for Memorial Day.
About The Author
More Stories
Despite 5% Losses in ETH, XRP, and SOL, Bitcoin Bulls Still Target $140K by Month’s End
Is an XRP Pullback Coming? Token Posts Successive ‘Lower Highs’ Amid Bitcoin Strength
“DOGE Falls 8% Before Whale Purchases Halt Decline at $0.25”