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As the "leader" of the Prince Group of Cambodia, Chen Zhi has been apprehended, prompting various judicial jurisdictions to initiate the disposal of assets related to the Prince Group. Local courts have appointed Joint Provisional Liquidators (JPLs) to investigate and preserve the corresponding assets surrounding the 30 British Virgin Islands (BVI) entities actually controlled by Chen Zhi. The bankruptcy proceedings in the British Virgin Islands are collective in nature, and the eligibility for creditor claims is not determined by nationality or jurisdiction; potential victims from any jurisdiction can file claims, which means that victims of online fraud and gambling from China can also submit claims at some point in the future.It is reported that the liquidation list includes 30 BVI companies, including Prince Global Group Ltd, most of which are actually controlled by Chen Zhi, while only 28 BVI companies are listed on the U.S. Treasury's sanctions list. Furthermore, "the scope of liquidation is not solely determined by sanctions," as two companies not sanctioned but included in the liquidation list, Amber Hill Ventures Limited ("AHV") and Lateral Bridge Global Limited ("LBG"), have been mentioned in U.S. judicial proceedings and are considered entities within the widely associated network of the Prince Group, accused of having no other practical use besides participating in money laundering. The prosecution claims that of the more than 120,000 bitcoins confiscated in the U.S., over 90,000 flowed through AHV, LBG, and another company registered in the Cayman Islands, Future Technology Investment; among them, the chairman and shareholder of AHV is Fan Yang, and the chairman and shareholder of LBG is Minyi Tang, who are referred to in the U.S. indictment as "Co-conspirator 6" and "Co-conspirator 7," respectively. Regarding the claims of victims of online fraud and gambling, a claims filing and distribution process has not yet been established. If a liquidation process is initiated in the future and there are sufficient funds to support distributions to creditors, the liquidators will establish a claims process, adjudicate claims, and make distributions in accordance with the British Virgin Islands bankruptcy law.

According to Caixin, as the "leader" of the Prince Group in Cambodia, Chen Zhi, has been captured, various judicial jurisdictions have successively initiated the disposal of assets related to the Prince Group.Regarding the 30 entities in the British Virgin Islands (BVI) actually controlled by Chen Zhi, local courts have appointed Joint Provisional Liquidators (JPLs) to investigate and preserve the corresponding assets.

According to reports from the Science and Technology Daily, China Information Communication Technologies Group's Optical Communication Technology and Network National Key Laboratory, in collaboration with Pengcheng Laboratory and FiberHome Technologies Group Co., Ltd., has completed a real-time bidirectional transmission test of 3.2 Pb/s multi-core optical fiber, setting a world record for the bidirectional real-time optical transmission capacity of a single fiber. This speed surpasses the 2.5 Pb/s record set by the same team earlier this year, representing an increase of nearly 30%.This speed is equivalent to downloading over 20,000 4K movies in one second or providing gigabit broadband for 3.2 million households simultaneously. The test used a 10.3-kilometer-long 24-core multi-core optical fiber, combined with S+C+L three-band multiplexing and spatial division multiplexing technology. The capacity limit of traditional C+L band commercial single-core G.652 optical fiber is about 100 Tb/s, and the total capacity of this system's single fiber is 32 times that, with the results submitted to the Journal of Lightwave Technology.

Chinese national Zheng Zhao was extradited from the Netherlands to the United States and appeared in court on October 23 in the Central District of California. He is suspected of participating in an investment fraud and money laundering case involving 174 American victims, with funds exceeding $36.9 million.The U.S. Department of Justice (DOJ) stated that the fraudulent activities were operated by a scam center in Cambodia. Prosecutors claimed that over $36.9 million was transferred into an account at Deltec Bank in the Bahamas controlled by accomplices, and then exchanged for the stablecoin USDT and transferred to a digital asset wallet in Cambodia. Eight other co-defendants have pleaded guilty; Zheng Zhao faces charges of conspiracy to commit money laundering, which could result in a maximum sentence of 20 years in prison if convicted.

According to a notice from the U.S. Department of Justice, a Chinese citizen has been extradited for allegedly participating in a cryptocurrency fraud case targeting U.S. citizens, with the amount involved reaching millions of dollars. The man appeared in court for the first time after being extradited back to the U.S. from the Netherlands, where he is charged with participating in an international cryptocurrency investment fraud scheme.The scheme was carried out by a fraud operation located in Cambodia, with victims including 174 identified U.S. citizens. The man has been ordered to be detained; his formal arraignment is scheduled for November 30 at the federal district court in downtown Los Angeles.

According to CoinDesk citing The Paper, Chinese prosecutors are seeking to confiscate over 61,800 bitcoins and other assets related to a fraud case involving more than 40 billion yuan. The case revolves around Qian Zhimin, the actual controller of Tianjin Lantian Ge Rui Electronic Technology. Prosecutors stated that from 2014 to 2017, the company sold unlicensed financial products in China, raising over 40.378 billion yuan from more than 102,000 investors, resulting in nearly 20 billion yuan in losses for investors.The related funds were reportedly used to repay early investors, operate fraudulent investment projects, and purchase bitcoins, real estate, cars, and jewelry, rather than being invested in legitimate businesses. Qian Zhimin fled China in 2017 and settled in the UK. UK authorities have seized his assets, including over 61,800 bitcoins, as well as Bitcoin Cash, Bitcoin Gold, Bitcoin SV, Ripple, Dogecoin, cash, jewelry, and investment holdings.On October 13, the Tianjin Second Intermediate People's Court stated that it has accepted the prosecutors' application to confiscate the aforementioned assets as illegal gains and has initiated a six-month announcement period for victims and stakeholders to participate in the litigation; those who do not participate can still apply for compensation regarding the recovery of assets. Previously, the UK High Court ruled that for the over 61,000 bitcoins seized in the UK, victims claimed that Chinese law should apply rather than UK law. This ruling requires determining whether victims have property rights under Chinese law, and a hearing will be held subsequently, with some victim lawyers seeking to appeal.

According to Caixin, just four days after the High Court of England ruled that the property rights dispute over more than 60,000 bitcoins in the Qian Zhimin case is subject to Chinese law, approximately 16,000 Chinese victims participating in the UK recovery have been given the opportunity to continue challenging this ruling.The High Court of England has held another hearing, and the judge has approved the Chinese victims to appeal the legal applicability ruling made on October 12. Lawyers from both sides also discussed issues related to the litigation costs of the previous legal applicability dispute, whether the approximately 16,000 individual applicants would continue to pursue recovery, and how to withdraw, among other matters.

The National Radio and Television Administration released the "China-ASEAN Micro Short Drama International Communication Development Report." The report states that micro short dramas, as a new form of online audio-visual content that originated in China, are becoming the fourth largest global audio-visual product form after American films, Japanese animations, and Korean dramas. The cooperation in micro short dramas between China and ASEAN is deepening, becoming an important carrier for China-ASEAN digital economy cooperation and cultural exchanges.The report indicates that the market size of micro short dramas in China continues to grow rapidly. By 2025, a total of 33,000 micro short dramas will be launched nationwide, and from January to September 2026, the number of launched micro short dramas will reach 490,000, which is 13 times that of the entire year of 2025. The user base of micro short dramas has reached 850 million, with monthly active users exceeding 600 million. By 2026, the overseas micro short drama market outside of China will exceed $6 billion, a year-on-year increase of 67% compared to 2025.The report also states that platforms with a Chinese background dominate the global market. From January to September 2026, all of the top 10 micro short drama apps in terms of downloads in overseas markets have a Chinese background, and among the top 10 platforms in terms of in-app purchase revenue, 9 are also of Chinese background.

The spokesperson of the Ministry of Foreign Affairs, Mao Ning, hosted a regular press conference. A reporter from AFP asked whether the U.S. government has requested federal agencies to stop using Chinese artificial intelligence products like DeepSeek, citing concerns about the potential transfer of sensitive data, and inquired about China's comments.Mao Ning stated that China has always opposed the generalization of the concept of national security and the politicization of technological and economic issues, and will firmly safeguard the legitimate rights and interests of Chinese enterprises. Previously, the U.S. government prohibited civilian agencies from using DeepSeek products.

According to Thai media Khaosod English, Thai immigration police recently arrested a 37-year-old Chinese man in Bangkok. He is wanted by Chinese police for allegedly participating in a transnational criminal network and money laundering activities. The police stated that the related criminal network involves transactions exceeding 500 million yuan (approximately 2.485 billion Thai baht).The suspect is accused of processing cryptocurrency and foreign exchange transactions for the criminal gang through more than 133 accounts and assisting members of the transnational criminal network in obtaining visas. The police indicated that the suspect had evaded capture by falsifying residence registration documents, changing license plates, and altering the appearance of vehicles, ultimately being apprehended in a luxury mansion in Bangkok. Thai authorities will handle his overstayed residence issue according to the law and coordinate his repatriation to China for investigation.

Goldman Sachs Chief China Equity Strategist Liu Jinjun and his team released a report stating that since the "DeepSeek Moment" at the beginning of 2025, Chinese AI-related listed companies have created a market value of nearly $5 trillion through stock price increases and IPOs. Currently, AI stocks account for 42% of the total market capitalization in the A-shares and Hong Kong stock markets, and 57% of the total trading volume.The report also mentioned that China has always been a key exporter in the global AI supply chain, holding about 50% of the global market share in certain AI power and infrastructure sectors. With the advancement of domestic AI technology, China has gradually established an internal circulation AI value chain that encompasses advanced semiconductors, open-weight large language models, and application layers.

An important ruling has been made by a UK court regarding the cross-border asset recovery dispute involving over 61,000 Bitcoins related to the illegal fundraising case of Tianjin Blue Sky Ge Rui in China. On October 12, local time, a judgment obtained by Caixin from the High Court of England and Wales indicated that the UK High Court determined that the property rights claims made by Chinese investors regarding the Bitcoins in question should be judged according to Chinese law rather than UK law.This means that approximately 16,000 Chinese victims who have participated in the UK recovery process may not be able to share in the substantial appreciation gains brought about by the soaring Bitcoin prices under UK law, and can at most recover their principal and interest.

According to foreign media reports, at a forum held by DBS Bank on Monday, Jensen Huang stated that the performance of Chinese AI models (including DeepSeek, Kimi, and GLM) has already been outstanding.Jensen Huang claimed that he is a staunch supporter of open source, stating that open source is the best way to drive efficiency improvements, and the market will determine which models are most suitable for different application scenarios. He also mentioned that quantum computing may enter mainstream applications within the next 3 to 5 years, and software will play an important role in promoting the efficient use of related infrastructure.

According to Nikkei Asia, chip design software leader Synopsys is seeking to collaborate with Chinese large language model developers, planning to use the AI version of its tools to help Chinese companies develop chips faster, and stated that it will carry out related work within the scope of tightening artificial intelligence and semiconductor export controls in Washington.The report states that Synopsys expects a revenue of $11.15 billion for the fiscal year 2027, with collaborations with OpenAI and Amazon driving its artificial intelligence business. Synopsys is headquartered in Palo Alto, California, and is a global leader in chip design software.

A luxury villa near Pattaya, Thailand, was the scene of an armed robbery, where three armed individuals broke into a gated community, took control of a Chinese national with Turkish citizenship, and forced him to open a safe and hand over cash and three luxury watches. The attackers also threatened the victim at gunpoint to transfer $820,000 worth of cryptocurrency into one of their wallets, which was then immediately sold.After escaping, the victim reported the incident to the police, who have yet to confirm the nationalities of the three suspects. The police's second district has launched an investigation and identified the vehicle used in the crime through surveillance; the vehicle was later abandoned in a remote area. The police are tracking the sold digital assets to identify the related accounts and recover the funds. Chainalysis estimates that such violent robberies have stolen over $30 million in cryptocurrency in the first half of 2026.

According to Gate market data, most popular Chinese concept stocks have declined, with Futu Holdings down over 7%, Tiger Brokers down nearly 4%, Baidu and TSMC down over 2%, and Alibaba down nearly 2%.

According to Catcher Predict monitoring, in the predicted market Polymarket for the event "LoL: Chinese Taipei vs. South Korea (BO5) - Asian Games Playoffs," the "Yes" option for the sub-market "Both teams kill a dragon" has experienced a drastic fluctuation in winning probability, soaring from 50% an hour ago to the current 90.5% (a fluctuation of 40.5%). Please note the impact of related breaking news.

According to GMGN market data, the BSC ecosystem Meme coin "Chinese Can Fly" once surpassed a market value of 9 million USD, with a daily increase of over 13 times, currently reported at 8.1 million USD.Please note that the prices of Meme coins are highly volatile and can be easily influenced by market sentiment and trending events; please be aware of trading risks.

According to Caixin, poker master and seasoned cryptocurrency investor Hu Zheweng made significant bets during the three waves of cryptocurrency frenzy involving ICOs, algorithmic stablecoins, and AI tokens, but faced consecutive failures. Hu Zheweng claimed to have invested in the blockchain project Stratis, achieving a return of "over 1000 times."According to disclosed information, Hu Zheweng invested approximately 80 million USD in algorithmic stablecoin TerraUSD (UST) and its sister token LUNA from May 2021 to May 2022, with the peak market value of his holdings exceeding 800 million USD, but the price of LUNA subsequently nearly dropped to zero.In addition, Hu Zheweng has filed a lawsuit in Chicago, USA against the globally renowned quantitative trading firm Jump Trading and its related companies and executives in the cryptocurrency business, seeking at least 500 million USD in damages. After experiencing Stox and Terra, Hu Zheweng has not left the cryptocurrency market; last January, he bet on a new project by a Chinese computer professor Zhang Yongfeng. Zhang Yongfeng entered the Computer Science Department of Tsinghua University in 2007 and is currently a tenured associate professor in the Computer Science Department at Rutgers University in the USA. He has been sued by Hu Zheweng on multiple charges including "securities fraud." It is reported that the tokens issued by the organization founded by Zhang Yongfeng, in which Hu Zheweng invested millions of dollars, have fallen over 99.6% from their peak in 2025.