A South Korean congressman's cryptocurrency holdings have soared more than 1,000 times in seven years

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PANews
04-02
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PANews reported on April 2nd that according to the Herald Economy, Kim Hong-soo, a city council member from Gangneung City, Gangwon Province, South Korea, saw his cryptocurrency assets surge by over 1000 times in seven years. The local council member purchased 195,555 OES tokens and 240,000 Donocle tokens at a unit price of 23 Korean won (approximately $0.016) in 2018, with a total investment of 10 million Korean won (about $6,800). These digital assets are now valued at 12.9 billion Korean won (approximately $8.8 million), and while they can be traded on the decentralized exchange Uniswap, the report points out that their liquidity is extremely low, making actual realization difficult. The council member still holds these tokens purchased seven years ago, but the insufficient market depth may affect his final ability to cash out.

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