Odaily Planet Daily News: Jung Sang-ho, former CEO of Delio platform, admitted in court that users did not receive "principal protection" when transferring assets to the platform. He said: "I never promised to guarantee the principal. This is clearly stated in the terms and conditions, and FIU (Korea Financial Intelligence Service) requires us to inform investors through the website." However, the creditor immediately retorted: "Why are deposits and pledges considered investments?" The prosecution also alleged that the principal protection is a duty of care to customers. Meanwhile, Jung's legal team argued that the claims of prosecutors and creditors were "factually incorrect", that the assets provided by the platform were not collateralized, and that its operations handled "only 5% of its assets" after FTX went bankrupt. The platform collapsed last year and owed creditors about 250 billion won ($181 million). Prosecutors accused him of suspected fraud, embezzlement and breach of trust. The next hearing for Jung is scheduled for July 23. (Cointelegraph)