Joo Ki-Young: "The Korean market is not attractive... National wealth is being drained"

Joo Ki-Young, CEO of the on-chain analysis platform CryptoQuant, has expressed criticism regarding the domestic industry and economic situation.

On the 19th, CEO Joo Ki-Young lamented on his X (Twitter), "Korean won and domestic assets are not attractive at all. This is because the government failed to grasp the situation and only forcibly defended the won's price. As a result, the exchange rate is also skyrocketing."

He added, "The USDT traded on Upbit has already reached an IMF-level exchange rate, and I believe a massive outflow of national wealth is occurring. Many wealthy individuals I know are leaving Korea. I think the outflow of national wealth reflects the country's metacognitive ability as a report card."

He also emphasized that the government's response needs to change. He stated, "The government should not forcibly hold onto capital going abroad but should think about making it return on its own. Unnecessary regulations should not be prioritized. Now I am also considering whether I should leave Korea."