Golden Finance reported that Kang Seung-kon, the largest shareholder of Cube Entertainment, was suspected of encouraging acquaintances and colleagues to invest in Nestree, a cryptocurrency owned by South Korean blockchain company Nestree Media Group, according to a report by Korea Economic Daily on Thursday. Cube reportedly invested 100 million won (about 68,376 U.S. dollars) in Nestree Media Group through a capital increase in March 2022. The price of the Nestree cryptocurrency soared nearly 10 times after the news of Cube's investment in the company broke, from 5 won to 50 won in about a month, as investors looked forward to further cooperation with the major K-pop company, the report said.