currency

Recently, the Qingshanqiao Police Station of the Xiangtan County Public Security Bureau in Xiangtan City, Hunan Province, with the support of the county bureau, went to Loudi and successfully dismantled a fraud den that used malicious links to steal virtual currency, arresting 3 criminal suspects.Upon investigation, on September 4, a local resident reported that after clicking on a strange link in a virtual currency QQ group, 6814 yuan worth of USDT was stolen from their account. Since August, three individuals, Zhou, Chen, and Liang, have been seeking illegal profits by obtaining malicious virus links through the Telegram app, specifically searching for virtual currency exchange groups in QQ and WeChat, sending malicious links in the groups, and waiting to steal the virtual currency from the accounts of those who clicked. Currently, all three suspects have been criminally detained in accordance with the law on suspicion of theft, and the case is under further investigation.

The prediction market operator Underdog has partnered with the cryptocurrency infrastructure provider zerohash, planning to support cryptocurrency and stablecoin deposits later this year. Eligible users can directly deposit supported digital assets through the Underdog app, with services supporting near-instant transfers around the clock. Underdog has not yet announced the specific cryptocurrencies or stablecoins that will be supported.The new deposit method will complement debit cards, credit cards, Apple Pay, and bank transfers, allowing users to avoid managing wallet addresses or selecting blockchain networks. Underdog was established in 2020 and currently has over 11 million registered accounts. IG Group has agreed to acquire the company for up to $1.3 billion, with the transaction expected to be completed by the end of 2026 or early 2027. As of October 21, Underdog's trading volume over the past 30 days was $1.4 billion, an increase of 133% compared to the previous period.

Recently, Sun Yuchen discussed his lawsuit against the Trump family's cryptocurrency project WLFI in a conversation with Jin Ming. He clearly stated that he remains firmly supportive of President Trump's cryptocurrency policy and AI strategy, believing it to be very successful.The reason for suing World Liberty Financial is entirely a normal action for commercial investors to protect their rights. The cause stems from the project's lack of investment transparency and insufficient information disclosure, even involving allegations of fraud. The case has been formally submitted to the federal court in California and is to be decided by a federal judge, which fully complies with the operation of the rule of law in the United States.Sun Yuchen further clarified that this lawsuit will not affect his judgment of the macro trends in the United States. He continues to hold a significant position in U.S. technology stocks and is optimistic about TRX being approved for a spot ETF in the U.S., the on-chain business of U.S. stocks, as well as expectations for a stronger dollar and the continued strength of the AI industry.Sun Yuchen believes that public opinion has exaggerated and complicated this lawsuit; in fact, it is simply a "business-to-business" lawsuit. Even if the agreement's subject matter involves 400 to 500 million dollars, it does not significantly impact his overall asset portfolio.Sun Yuchen also stated that he invests with the patience of an old hunter. Once he is thoroughly optimistic and makes a significant decision, he will invest at least 4 to 5 billion dollars or more in a single transaction.

According to a report by Politico, Joel Greenberg, a shareholder of Circle Internet Group and a former software engineer at the company, filed a lawsuit in a U.S. federal court on Thursday, accusing U.S. President Donald Trump and his family of benefiting from two transactions involving the United Arab Emirates through the cryptocurrency company World Liberty Financial (WLFI), allegedly violating the U.S. Constitution's Foreign Emoluments Clause. This clause restricts the president from accepting money or other benefits from foreign governments without congressional approval.The lawsuit states that the first transaction occurred before Trump's second term began, in which he sold 49% of WLFI for $500 million, with the related funds reportedly coming from the UAE. After Trump took office, he reportedly earned millions from this transaction. The second transaction involved an investment fund established by the UAE government purchasing $2 billion worth of digital currency from the Trump family. The plaintiff alleges that this transaction inflated the value of the cryptocurrency assets held by Trump and generated millions in interest income for him, while significantly expanding the circulation of his stablecoin.

The Securities and Exchange Commission of Thailand (SEC) stated to Cointelegraph that several asset management companies have consulted with them regarding the launch of cryptocurrency ETFs, but no asset management company has submitted an application for the establishment of a crypto ETF. The SEC did not disclose the names of the relevant companies.The Thai SEC also mentioned that it is still too early to determine whether the first batch of products can be approved by the end of 2026; the timeline depends on the preparedness of the applying institutions, the progress of regulatory review, and investor protection requirements. The new regulations for crypto ETFs in Thailand took effect last Friday, allowing asset management companies to establish and list spot Bitcoin and Ethereum ETFs locally.Previously, some companies provided Bitcoin exposure to Thai investors through products linked to overseas ETFs. ONE Asset Management became the first Thai asset management company approved for a Bitcoin ETF-linked fund in 2024, followed by MFC Asset Management, which launched a fund investing through BlackRock iShares Bitcoin Trust (IBIT).

Zhao Changpeng stated that no cryptocurrency wallet can achieve absolute security, and there is no software without vulnerabilities or technology that is 100% secure.He pointed out that any action carries risks, and so does inaction; it is inevitable to encounter problems, setbacks, and challenges that need to be addressed during the process. Zhao Changpeng advised users to stay informed about the latest developments, manage risks effectively, and actively solve problems.

According to official news, the parent company of the Web3 payment integrated application Gold House has signed an agreement to acquire the Canadian MSB company THREESTONES VENTURES LTD. This transaction is currently entering the subsequent phase of the acquisition process.It is reported that this proposed acquisition is a strategic move by Gold House to expand its digital asset business, fiat-to-cryptocurrency capabilities, and cross-border payment infrastructure, aiming to further strengthen its Web3 payment ecosystem and connect digital assets with traditional financial services.Upon completion of the acquisition, Gold House plans to leverage the regulatory registration and operational capabilities of the acquired entity (subject to applicable regulatory requirements) to explore new opportunities in digital asset payments, merchant services, and cross-border settlements. As a Web3 ecosystem that integrates social networking, digital asset management, and payments, Gold House is committed to connecting digital assets with real-world commerce and expanding access to seamless, diverse payment solutions.

According to Axios, Visa is in talks to acquire the cryptocurrency asset custody infrastructure company Fireblocks, with a deal valuation of approximately $2.5 billion. If the deal is finalized, it will further expand Visa's presence in the digital asset custody and blockchain payment infrastructure sectors.Currently, this news is pending further confirmation, and the specific terms and progress of the acquisition negotiations have not been disclosed.

According to French media reports, three masked individuals broke into the home of a couple in their sixties in Mont-de-Marsan, Landes, France, threatening the two to hand over their cryptocurrency. The 63-year-old husband sustained a head injury, and the assailants subsequently took a laptop and a mobile phone.After the two victims managed to escape, they called the police and were sent to the hospital for examination. Preliminary police investigations suggest that the case may be related to the couple's son, who works in the cryptocurrency industry. Following the incident, their son has been placed under police protection. Currently, the three suspects are still at large, and the case is being investigated by the Bayonne judicial police.

On October 22, a16z announced the removal of "Crypto" from the name of its flagship blockchain fund, renaming it to a16z Frontier, and long-time general partner Ali Yahya is stepping down. The announcement stated that this move does not signify a withdrawal from investing in the cryptocurrency space, but rather aims to further broaden the investment scope.The fund has previously raised nearly $10 billion, including $4.5 billion in 2022 and $2.2 billion for Fund 5 this year, making it one of the largest institutional players in the industry. When raising Fund 5 this year, a16z stated that the industry is shifting from a price cycle to a usage cycle, focusing on the infrastructure of stablecoins, on-chain finance, prediction markets, and asset tokenization, rather than merely chasing market trends.Chris Dixon, founder and managing partner of a16z crypto, will remain in his position. Investments related to crypto assets and blockchain remain one of the core directions, but the overall label and strategic focus have been adjusted to cover a broader range of frontier technology fields.

The U.S. Department of Justice announced on Wednesday that Colombian cryptocurrency broker Leonardo de Jesus Zuluaga Duque was sentenced to 160 months in prison for assisting in the laundering of drug trafficking proceeds through Tether's USDT and participating in a scheme to import cocaine into the United States.Zuluaga Duque, along with five others, assisted in laundering approximately $14.5 million in USDT through a network of cryptocurrency accounts, shell companies, and fund transfers between the U.S. and Colombia from May to November 2023. The court also ordered the forfeiture of $14.75 million and the cryptocurrency held in four addresses under his control.

Cryptocurrency exchange Gemini co-founders Cameron Winklevoss and Tyler Winklevoss stated in an interview that Bitcoin is a public, auditable blockchain where anyone can see transaction records, and this openness makes it unsuitable for privacy needs. Privacy coin Zcash is used for private transactions and payments, so the two can coexist. They mentioned that ideally, privacy should be built into Bitcoin, but currently, it is a practical model of Bitcoin storage and Zcash transactions. Bitcoin remains important, but the privacy exposure risk of public chains is greater in the face of artificial intelligence.The Winklevoss brothers stated that Zcash complements the missing privacy features of Bitcoin, serving as a privacy-focused Bitcoin, and the privacy value of ZEC has yet to be fully realized. If it reaches 10% of Bitcoin's market value, ZEC could rise fivefold, easily surpassing $5,000. They are optimistic about ZEC's price performance in the next 5 to 10 years, especially as privacy demand increases, and they described Zcash as a financial privacy protection tool in the era of artificial intelligence, an antidote against AI-driven surveillance and tyranny, and a hedge against artificial intelligence or quantum threats in the cryptocurrency space.

Dragonfly Managing Partner Haseeb Qureshi stated that there is a wave of attacks in the cybersecurity field that is "similar to the COVID-19 pandemic." He believes that on-chain hacking incidents are the "canary in the coal mine" for cybersecurity, as on-chain is the easiest place for cyber attacks to be monetized.He cited data from DefiLlama Research indicating that the number of on-chain hacking incidents has surged, but the annualized scale of stolen amounts is roughly equivalent to that of 2025, with losses per incident decreasing. He noted that most small protocols have been compromised, while large protocols are strengthening their defenses with AI tools. He anticipates that similar situations will also arise in the broader internet space.

California Attorney General Rob Bonta announced that his office has reached a $500,000 settlement agreement with Fidelity Digital Assets, National Association (the successor entity of Fidelity Digital Asset Services), regarding the company's previous practice of restricting California retail customers from transferring cryptocurrency to external wallets.Regulators believe that this practice may violate the California Commodity Act of 1990; this law restricts certain speculative commodity contracts unless the buyer obtains physical delivery within a specified time, and the California government views the ability to withdraw cryptocurrency as a functional equivalent of delivery. From November 2022 to April 2025, California customers could buy and sell cryptocurrency on the Fidelity platform but were unable to send assets directly to external wallets. Fidelity stated that this restriction stemmed from the New York State Department of Financial Services (NYDFS) not approving the relevant functionality at that time; the license was approved in April 2025, and the transfer feature will be extended to all California retail customers in June 2025.

The Digital Currency Renminbi Operation Management Center interprets the recently released core results of the central bank's digital renminbi system DCEPS and the digital renminbi smart contract ecological service framework e-CNY SMART Contract. DCEPS is a comprehensive payment and settlement platform that integrates issuance management, retail, wholesale, blockchain payment, and smart contract services, providing a technical foundation to support digital currency.e-CNY SMART Contract is designed to meet the needs of digital economic development, constructing a smart contract service system that involves multiple participants and open collaboration, which has already been implemented in scenarios such as prepaid fund management, supply chain finance, fiscal subsidies, consumer red envelopes, and wage distribution for migrant workers. The digital renminbi has been upgraded from cash-type 1.0 to deposit currency-type 2.0 as of January 1, 2026, with DCEPS and the digital currency cross-border settlement comprehensive service platform being built and operated by the Digital Currency Renminbi Operation Management Center and the International Operation Center, respectively.

U.S. President Trump will emphasize his administration's actions against overseas cryptocurrency fraud at a cybercrime prevention event at the White House on Wednesday. According to Reuters citing White House officials, these overseas criminal networks lure Americans into participating in fraudulent cryptocurrency investments. Trump and cabinet members plan to point out that the government has shut down multiple fraudulent cryptocurrency investment websites and is working to close down online impersonation scams. Secretary of Homeland Security Markwayne Mullin, FBI Director Kash Patel, Secretary of Defense Pete Hegseth, and Attorney General Todd Blanche are expected to attend.The event follows an executive order from March this year, where Trump instructed the Department of Justice to prioritize identifying and prosecuting cyber fraudsters, followed by a memorandum requiring the Department of Homeland Security to collaborate with private companies to monitor foreign criminal hacker organizations. FBI data shows that in 2025, over 1 million cyber fraud complaints were submitted by the American public, a 17% increase from 2024, with record losses. Cryptocurrency fraud accounted for more than half of the losses, with the FBI's Internet Crime Complaint Center recording 181,565 cryptocurrency-related complaints, resulting in losses of $11.366 billion, with cryptocurrency investment fraud causing $7.2 billion in losses.Most of the fraud activities trace back to organized crime groups in Southeast Asia, involving Cambodia, Laos, and Myanmar, where criminals exploit trafficking victims as forced labor in scam operations. Americans aged 60 and above bear the heaviest losses, with cryptocurrency-related losses reaching $4.43 billion. Cryptocurrency ATM fraud caused losses of $389 million, a 58% increase from 2024; secondary scams targeting previous victims caused an additional $1.4 billion in losses. The FBI's "Operation Upgrade" notified 3,780 victims suffering from cryptocurrency investment fraud in 2025, estimated to recover $225.8 million.