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The mastermind behind the armed robbery of a cryptocurrency practitioner in Singapore was sentenced to 12 years and 11 months in prison and received 24 lashes

According to the United Morning News, seven Malaysian gangsters targeted players attending a poker game, breaking into a luxury private residence in Bukit Timah late at night, armed and stealing over 4.9 million dollars, quickly splitting into two groups to escape Singapore. Six of them pleaded guilty in the High Court on Monday (September 14), with the two masterminds sentenced to 12 years and 11 months in prison, 24 strokes of the cane, plus a fine of 4,000 dollars.In court, it was revealed that the masterminds, Wu Wentong (30 years old) and Huang Zhishan (35 years old), learned from a friend who had previously attended the poker game that the house often held poker games at night. After scouting the location, they discovered that the front door of the house would not be locked during the game. Wu Wentong and Huang Zhishan then recruited five other accomplices, specifically coming to Singapore to commit the crime. This armed robbery occurred around 2 a.m. on April 18, 2024, at a residence in the upscale Alper Wang Garden area, where 11 men and women were playing poker in the living room.According to the case details, around March 2024, Wu Wentong and Huang Zhishan decided to rob the poker players at the house due to financial issues. They knew that they could not carry out such a large-scale robbery with just the two of them, so they contacted Hamidun, who runs a private security company and provides debt collection services, to help gather a team, promising a reward of 1.5 million ringgit (approximately 470,000 Singapore dollars). After the group succeeded, they left in a multi-purpose vehicle, splitting into two groups to leave Singapore via the Tuas and Woodlands checkpoints. At the same time, several players in the private residence managed to free themselves from their restraints and reported the robbery to the police. With the assistance of the Royal Malaysia Police, the six defendants were arrested between late April and November 2024 and were extradited to Singapore for prosecution. The police have since recovered virtual currency worth 1.69 million dollars, while the remaining funds and property are still missing.

Harmony plans to shut down the mainnet and migrate ONE to Ethereum, shifting towards AI video remixing business

Harmony has released two proposals to comprehensively shut down the mainnet launched in 2019, migrate the native token ONE to Ethereum, and shift towards an AI video "mashup economy" business. The team stated that the threats posed by national-level attackers and AI entities are the reasons for proposing the network shutdown plan.The migration plan proposes to take a snapshot of user wallets, staking delegations, validator rewards, smart contracts, and tokens within centralized exchanges at the last block of the network, airdropping new ONE to the same wallet addresses on Ethereum, with holders not needing to actively claim; delegated stakes and unclaimed rewards will be airdropped to their respective governance vaults. The total supply of ONE and the issuance rate will remain unchanged, with newly issued tokens intended for the new business and feedback from governors being considered.Multi-signature wallets, liquidity pools, and on-chain applications cannot be migrated. The team urges users to exit all smart contracts by September 10, 2026, and plans to publicly disclose token contracts, snapshot calculations, and airdrop scripts for auditing. Validators can stop running nodes starting from September 10 at 22:00 Beijing time. The team plans to compensate for the difference in issuance rewards between node shutdown and the final block of the network, establishing a one-time compensation pool of $1.372 million, to be paid in four quarters to validators and their delegators who timely shut down, sign agreements, retain stakes, and serve as governors of the new project.The new business will open up prompts and materials for users to create secondary content, with AI entities expanding video stories, and will recruit operators responsible for video generation, distribution, and content review. Harmony plans to subsidize GPU hardware in the first year and promote demand for video generation, with operators required to stake tokens to earn rewards based on service online time. The team plans to help operators generate up to $1 million in total revenue in the first year, provided they meet staking and online rate requirements; promoters can initially earn a 30% ongoing commission from each $10 monthly subscription they recommend. Both proposals are non-binding and the plans may still be adjusted.

QCP Capital: BTC Enters Non-Farm Payroll Data Window

QCP Capital's market weekly report shows that after Federal Reserve Chairman Warsh's speech in Jackson Hole, the probability of a rate hike in September rose from 35% to 70%. BTC fell approximately 2.5% in a single day, and after nine consecutive days of net inflow, the ETF recorded a net outflow of $202 million. However, the dollar failed to maintain a hawkish pricing, with the DXY falling below 99.5, and gold, silver, and BTC all regained their losses.On the Treasury side, on September 9, the first long-end liquidity support operation will be launched, with the purchase limit raised to at least $4 billion (previously $2 billion). The yield on the 30-year Treasury bond auction on August 30 was reported at 5.216%, the highest since 2001, and the market will closely monitor whether this operation can effectively improve long-end liquidity.In terms of inflation, July PCE was reported at 3.7% (core 3.3%), CPI at 3.4% (core 2.5%), and Brent crude oil rose about 10% in a week due to attacks in the Strait of Hormuz and a force majeure event in Qatar LNG, with inflationary pressures continuing. Waller stated that if the data continues to trend as it has over the next two weeks, it would support a pause in rate hikes. Coupled with the ADP employment data showing only 38,000 jobs added (the weakest since January), the probability of a rate hike in September has fallen to 45-50%.

Non-farm payrolls will be announced tonight, and the market expects an increase of only 56,000 people in August

The U.S. Bureau of Labor Statistics will release the August non-farm payroll report tonight, with the market expecting an increase of only 56,000 jobs and an unemployment rate remaining at 4.1%. The market generally believes that the U.S. job market is currently in a "stable but weak" state, and a weakening employment data may not directly prompt the Federal Reserve to cut interest rates, with policy focus still on inflation trends.J.P. Morgan's trading desk predicts that if job additions exceed 95,000, the S&P 500 index may drop by 0.5% to 1.25%; if job additions are only between 5,000 and 35,000, the S&P 500 index may rise by 0.25% to 0.75%. The market expects that this non-farm data will become an important variable affecting the Federal Reserve's September policy expectations and the short-term trend of U.S. stocks.Recent statements from Federal Reserve officials indicate that the job market is currently not the focus of policy. Federal Reserve Governor Barr stated earlier this week that the employment situation is "stable," while Governor Waller said on Thursday that the employment condition is "satisfactory." This assessment does not imply that the job market is performing strongly, but it suggests that in the absence of further easing in inflation, the Federal Reserve may consider raising interest rates while trying to avoid impacting employment.

Bank of America stated that non-farm payrolls may not be the deciding factor for the interest rate hike in September, but still assesses a rate increase

As the bond market experiences significant fluctuations recently, investors are awaiting two sets of key U.S. data that may influence the Federal Reserve's decision: the non-farm payroll report for August to be released this Friday, and the August CPI data to be published on September 11.However, according to Bank of America, these two pieces of data carry different weights in the Federal Reserve's meeting on September 15-16. The bank believes that the non-farm payroll report is more like an "appetizer," while the "main course" that will truly determine whether the Federal Reserve raises interest rates is the CPI.Bank of America analysts stated on Wednesday: "The non-farm payroll is unlikely to be the decisive factor for a rate hike in September. A significantly weak report may reduce the likelihood of a rate hike, but the CPI remains the key data in determining whether the Federal Reserve will follow through with a rate increase. We maintain our judgment for a rate hike in September." Unless there is a significant downside surprise in the non-farm data released on Friday, the employment report is unlikely to become the final deciding factor in the discussions at the September FOMC meeting. The bank particularly emphasized that inflation remains the primary concern for the current Federal Reserve.

first_img Farmmi tokenized stock is actually a Memecoin, with the total supply minted by a single wallet

On Wednesday, the stock price of Nasdaq-listed company Farmmi surged from Tuesday's closing price of $0.1187 to a high of $0.5, with an intraday increase of about 321%. The trigger was a Memecoin named after the mushroom varieties in the company's annual report (Money Mushroom, code JINQIAN) starting to trade against its so-called "tokenized stock" FAMI on the Robinhood Chain.However, on-chain data shows that FAMI is not an official stock token from Robinhood: its total supply of 37,430,000 tokens (close to the total number of Farmmi's circulating shares) was generated in a one-time minting during the creation of the trade, with the deploying wallet retaining 38% and deploying a contract named PoolRepricer to manage the price itself, with no further changes to the supply thereafter. This token has no issuer, no redemption mechanism, and is completely unrelated to real Farmmi stock. In contrast, the official stock tokens from Robinhood are issued by Robinhood Assets (Jersey) Limited, and only authorized participants can subscribe and redeem.In terms of market performance, FAMI reached a high of $1.83 in the USDG pool, and as of 2:28 p.m., it was priced at $0.2135, a 45% premium over the stock price, with a total trading volume in the related pool reaching $131.4 million; the trading volume of JINQIAN against the FAMI pool was about $92 million, and at least 10 more Memecoins were launched within the following 30 minutes.
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