South Korea's seventh-largest pension and relief company loses approximately $32.73 million from investing in an Ethereum leveraged ETF

According to Odaily Planet Daily, Bumo Sarang, South Korea's seventh-largest pension and relief company, invested 59.5 billion won of its operating funds last year in a daily double-leveraged ETF for Bitmine, an Ethereum-themed stock, resulting in a loss of 49.3 billion won (approximately $32.73 million). A comprehensive review of the 2025 audit reports of 75 pension and relief companies shows that 42.7% of these companies have total assets lower than the advance payments owed to customers. This means that if all customers were to cancel their contracts simultaneously, the companies would be unable to provide full refunds. (The Korea Economic Daily)