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A French woman has been detained on suspicion of manipulating the price of Verasity tokens and had previously purchased real estate worth over 50 million euros in Dubai

According to the French newspaper Le Monde, a 45-year-old woman born in Russia and naturalized in France in 2017, Svetlana A., has recently been placed under investigation and detained by a Paris investigating judge on charges of organized fraud, serious money laundering, and participation in a criminal gang. The French National Financial Prosecutor's Office stated that she and her British partner Robert H. are suspected of committing organized fraud by manipulating cryptocurrency prices, with the related funds suspected to be used for purchasing properties in Dubai.Reports indicate that Svetlana A. invested over 50 million euros in 2022 alone, acquiring about 100 apartments and 3 luxury villas in Dubai, with total rental income from 2022 to 2025 expected to be at least 4 million euros; she also purchased an entire building containing 73 apartments for 68 million dirhams (approximately 17.4 million euros). The cryptocurrency mentioned in the report is Verasity (VRA), launched by her partner in 2018. The price of VRA surged 65 times over a two-and-a-half-month period in the spring of 2021, followed by a significant decline, currently down approximately 99.98% from its historical peak. The lawyer for the parties involved stated that the sources of the related wealth are documented and legal, and they deny any wrongdoing. The case is still under investigation.

Circle Foundation: Exploring stablecoin payments for humanitarian assistance, providing funding to the United Nations Development Programme and the World Food Programme

The Circle Foundation announced two grants to the United Nations Development Programme (UNDP) and the World Food Programme (WFP) to explore the application of digital payments and digital financial infrastructure in humanitarian aid and development projects.The Circle Foundation stated that the relevant programs will study how to utilize digital payments and regulated payment-type stablecoins to disburse funds to aid recipients more quickly, transparently, and at a lower cost.For the UNDP, the grant will be used to establish and operate a "Digital Asset Innovation Pool," helping country offices expand previous digital payment pilot projects conducted in Syria, Haiti, Guatemala, and Gambia from single projects to regular project execution, and provide support such as regulation, operations, and beneficiary protection; this mechanism will not replace traditional banking channels but will serve as a complementary option outside the existing payment system.For the WFP, the grant will support the establishment of governance, risk management, funding, reconciliation systems, and compliance tools necessary for stablecoin payments, and integrate local fintech and mobile payment services. Over the next three years, the WFP plans to test 2 to 3 payment channels connecting its payment system with local financial service providers and markets to assess the performance of stablecoin payments in terms of efficiency, transparency, and resilience.

first_img Jeff Booth stated that the $1 million Bitcoin target is too small and believes that the dollar-denominated system is manipulated

Writer and author of "The Price of Tomorrow," Jeff Booth, stated in a video interview with Bitcoin Magazine that the price target of $1 million for Bitcoin is "thinking too small." He believes that pricing Bitcoin in a constantly depreciating fiat currency is equivalent to valuing it within a system manipulated by currency devaluation, making such a target invalid. In his view, Bitcoin is not just a token or an asset, but the beginning of a decentralized, secure, and privacy-focused protocol stack, which will ultimately resemble the internet, and it is also the first true free market in human history.In the interview, Booth also discussed AI valuation and technological deflation. He believes that a free market will drive the prices of AI services toward zero, and this deflationary force brought by AI will conflict with a monetary system built on debt. He mentioned the United States' debt of up to $40 trillion, bond yields, and a financial system that is approximately $350 trillion in size and essentially insolvent, linking AI singularity theory, market fear, and monopolistic regulation.In the longer-term section, Booth talked about the adoption timeline of Bitcoin and emphasized that Bitcoin is not just an asset. He also discussed the global expansion of Bitcoin payments and the circular economy, as well as ideas such as private equity supported by Bitcoin and permanently held enterprises, outlining a deflationary future priced in Bitcoin.
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