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Beijing investigates the first case of pyramid selling using blockchain and virtual currency, a technology company was fined and confiscated over 930,000 yuan

According to a report from the Beijing Daily client, the Market Supervision Administration of Haidian District, Beijing, investigated and handled the city's first illegal case of assisting pyramid schemes using blockchain and virtual currency technology, resulting in a technology company being fined and confiscated a total of over 930,000 yuan.The technology company involved is an outsourcing service provider for a certain public blockchain, offering support such as operations, market services, publicity and promotion, exchange docking, and maintenance. This public blockchain launched the "Atomic Plan" and "Hathaway Plan," which are centered around recruiting people for rebates, using the number of recruited individuals as the basis for rebates, and requiring participants to invest funds to obtain membership qualifications. Despite being aware of the pyramid scheme applications associated with this public blockchain, the involved company continued to provide technical operations, external publicity, and maintenance of virtual currency trading channels, facilitating the flow of funds and the spread of activities related to the pyramid scheme.Ultimately, the pyramid scheme activities of this public blockchain were investigated by public security authorities, the organizers were criminally detained, and the involved technology company was administratively punished with a total fine and confiscation of over 930,000 yuan for providing facilitative conditions.

first_img Visa's net profit attributable to shareholders for fiscal year 2026 was 23.504 billion USD, a year-on-year increase of 17%

On October 28, the payment network Visa released its performance for fiscal year 2026 and the fourth fiscal quarter. The fiscal year 2026 spans from October 1, 2025, to September 30, 2026, and the fourth fiscal quarter spans from July 1, 2026, to September 30, 2026.In fiscal year 2026, Visa's total operating revenue was $45.903 billion, a year-on-year increase of 15%; operating profit was $28.11 billion, a year-on-year increase of 17.15%; the operating profit margin was 61.24%, an increase of 1.25 percentage points year-on-year. The net profit attributable to the parent company was $23.504 billion, a year-on-year increase of 17%; operating cash flow was $23.728 billion. Basic earnings per share were $12.34, diluted earnings per share were $12.32, a year-on-year increase of 21%; the debt-to-equity ratio was 61.73%.In the fourth fiscal quarter, Visa's total operating revenue was $12.139 billion, a year-on-year increase of 13% and a quarter-on-quarter increase of 4.35%; operating profit was $7.262 billion, a year-on-year increase of 18.12%; the operating profit margin was 59.83%, an increase of 2.5 percentage points year-on-year. The net profit attributable to the parent company was $6.002 billion, a year-on-year increase of 18% and a quarter-on-quarter increase of 6.65%; both basic and diluted earnings per share were $3.19, a year-on-year increase of 22%; the debt-to-equity ratio was 61.73%.
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