South Korea · Bitcoin ETF · Tether · CoinDesk
The Seoul-based neocloud provider closed at 60,500 won ($45.57), down over 30% from its 90,500 won offer price
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The IPO raised $151 million at a valuation of roughly $755 million, .
Key facts
- The Seoul-based neocloud provider closed at 60,500 won ($45.57), down over 30% from its 90,500 won offer price
- The IPO raised $151 million at a valuation of roughly $755 million
- Meanwhile, brent crude topped $111 a barrel, reaching its highest level since May, while WTI traded around $100
- Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%
Summary
South Korean data centre Elice closed a third below its IPO price despite retail demand exceeding 400 times the allocation, as the KOSPI fell almost 4%. South Korean data centre company Elice’s (0158S0) stock market debut added to nervousness surrounding artificial intelligence investments on Tuesday, as investors further questioned whether spending on infrastructure will deliver sufficient returns. The Seoul-based neocloud provider closed at 60,500 won ($45.57), down over 30% from its 90,500 won offer price. Pressure has extended into U.S. pre-market trading, where CoreWeave (CRWV) fell another 3%. Meanwhile, brent crude topped $111 a barrel, reaching its highest level since May, while WTI traded around $100.