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StarkWare is developing a private KYC system powered by STRK20s, which allows users to prove eligibility on-chain without disclosing sensitive identity data. (Cointelegraph)

BlockBeats News, June 24th, South Korean storage chip giant SK Hynix plans to raise up to 45 trillion Korean won (approximately $29 billion) through the issuance of American Depositary Receipts (ADRs) in New York, with the transaction scheduled to start in July. If successful, this fundraising scale will surpass Alibaba's $25 billion IPO in 2014, becoming one of the largest overseas equity financing projects in South Korean corporate history and approaching a global capital market historical record. According to the plan, SK Hynix will first issue shares in Korea, then deposit the relevant shares into a Korean securities depository as the underlying securities for ADRs. Korean regulators are expected to complete the review by July 3rd. The raised funds will be mainly used for the construction of the Yongin Semiconductor Cluster in South Korea and a factory in Indiana, USA, as well as the purchase of EUV Extreme Ultraviolet Lithography equipment to support AI-related advanced storage capacity expansion. Citigroup, JPMorgan Chase, Goldman Sachs, and Bank of America have been selected as lead underwriters. SK Hynix's confidence in this US fundraising comes from its strong position in the AI industry chain. As a global leader in High Bandwidth Memory (HBM), the company is a core supplier of NVIDIA's AI accelerator chips. Driven by AI demand, its stock price has risen by over 300% year-to-date. CEO Lee Seok-hee stated that the company aims to enhance its global influence through the US capital market and achieve a valuation level comparable to other AI hardware companies.

Foresight News reported that the crypto venture capital firm Marine Ventures has announced its launch, with its first fund (Fund I) sized at $100 million. The institution is financially backed by Manta Network co-founder and CEO Victor Ji, with BruceMao serving as head of research. The fund mainly invests in the following three areas: early-stage agent-native and AI-native applications, AI-powered super individuals and the teams composed entirely of them, and the intersection of AI × Web3.