South Korea Appears one More Politician Who Admits His Cryptocurrency Trading Experience

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Lee Jun-seok- a different important political leader has emerged as a crypto enthusiast. He is the head of the Korean Opposition Party and has admitted to participating in cryptocurrency trading

South Korea has one extra politician who admits his expertise in cryptocurrency trading

Lee Jun-seok, just 36 many years outdated, stunned the political globe final week when he won the leadership election for the chairmanship of the People’s Power Party, getting the youngest leader from of the far-ideal celebration. A Harvard graduate in Economics and Computer Science, he is also a technological innovation entrepreneur and the founder of the start out-up business Edushare.

Known as the “voice of millennials” in a celebration typically dominated by older guys, Lee has unexpectedly shed light on his crypto organization previous.

According to Edaily, Lee advised the information podcast host that he has “tried” to trade cryptocurrencies — even though he has stopped brief of disclosing the names of the tokens he traded and the quantity he has traded earned from that hard work.

“I made enough money to fund three or four election campaigns by investing in crypto. But these days crypto prices have dropped a lot,” he stated

And it appears that Lee’s curiosity in crypto is not purely for pleasurable, while he has countered that his trading is “for fun”.

“I used to be a programmer, so I was able to create an automated crypto investment program,” he stated.

Last month, Lee admitted on Facebook that he was engaged in “a small token investment.”

Reporters asked Lee for extra particulars about his transaction — and in specific the dimension of his earnings. He replied that his earnings have been “not millions or tens of millions of dollars”.

When asked if his revenue is beneath $one million, Lee laughs and suggests that this is 1 attainable situation.

However, because campaigns usually price as considerably as $180,000 — by Lee’s calculations — his earnings could be someplace among $500,000 and $750,000, if his personal estimates are right. .

However, he stopped brief of recommending citizens to his preference, noting that the cryptocurrency is “very volatile.”

Lee is unlikely to run for president subsequent yr in elections to be held in the to start with half of 2022. But he could turn out to be the party’s head.

South Korean Governor Won Hee-ryong is the to start with politician to publicly disclose his crypto holdings

One of the foremost candidates for the People’s Power nomination is Won Hee-ryong, the governor of Jeju Island.

Won this yr admitted to acquiring concerned in crypto on his personal — and has previously sought to obtain legit means to bypass the government’s mass ban on preliminary coin offerings (ICOs). .

According to Chosun, Won admitted that he purchased a complete of one million won ($885) in bitcoin (BTC), ethereum (ETH), somesing (SSX), and klay tokens (KLAY) issued by Kakao. Won justified his obtain by saying that he imagined, “I have to do it.”

With this kind of an announcement, the governor of Jeju Island turns into the to start with politician to go public with his crypto holdings in South Korea. Won commented:

“Although more than 5 million people are trading virtual assets, various damages are happening one after another due to inadequate relevant laws and policies. I will try to do it on my own, communicate with the public and find alternative solutions on what the problem is and how to develop the virtual asset sector.”

Meanwhile, the celebration has been conscious of the expanding purpose cryptocurrencies are possible to perform in subsequent year’s elections and has a short while ago established a cryptocurrency job force, staffed with are technological innovation and policy professionals.

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