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According to Jinshi Data, the Shanghai Stock Exchange has accepted the IPO application of Yushu Technology Co., Ltd. for the Sci-Tech Innovation Board, with a proposed financing amount of 4.202 billion yuan.

A typical case was recently disclosed by the Zhangqiao District Court in Jinan City, Shandong Province, China: Liu entrusted his friend Zhang to invest in "Alpha Coin," with the platform showing daily earnings of hundreds of yuan. After the investment, the platform became inaccessible, and Zhang informed Liu that the platform's person in charge had been filed for criminal charges. Liu sued Zhang for the return of the investment.After hearing the case, the court concluded: investing in virtual currency disrupts financial order and endangers financial security; therefore, the entrusted contract in this case is invalid. Zhang did not profit from the entrusted action, and the investment loss is a risk associated with engaging in illegal financial activities, which should be borne by Liu. The judge reminded that the announcement by seven departments in 2017 and the notice by ten departments in 2021 clearly state that activities related to virtual currency are illegal financial activities, and investment losses are not protected by law. Even if operated by others on behalf of someone, as long as the essence is participating in virtual currency trading, it is also not protected by law.

According to the Jinan Daily, Li Weiwei, a female police officer from the Economic Investigation Unit of the Dezhou Public Security Bureau in Shandong Province, China, optimized her investigative methods by tracking the flow of funds transaction by transaction during the analysis of a telecom fraud case.After detailed analysis, Li Weiwei discovered a new type of criminal model that combines "traditional underground banks + virtual currency," which is more concealed and harder to trace. After several days of continuous effort, she ultimately identified 12 main criminal suspects, over 100 financial accounts, and 6 virtual currency wallet addresses. Together with the special investigation team, she created a clear organizational structure chart and a flow chart of the funds, legally freezing the assets involved in the case, successfully solving Dezhou's first underground bank case involving virtual currency.

Hangzhou Xiaoshan District issued the "Several Measures to Support the Development of OpenClaw & OPC-STC in Hangzhou Xiaoshan District (Draft for Comments)." It encourages the establishment of market-oriented and professional innovation platform carriers to set up "OpenClaw-like Intelligent Agent Service Areas," providing free deployment of OpenClaw-like intelligent agents and offering one-stop services such as technical guidance and market promotion. Certain subsidies will be granted to eligible innovation platform carriers.For eligible OPC-STC enterprises, a subsidy of 30% will be provided for the actual model invocation fees paid for using OpenClaw-like intelligent agents to call domestic multimodal large models for AIGC creation and production, with a maximum annual subsidy of 100,000 yuan per enterprise.

Solana has reached a partnership with Alibaba's Shanghai Hongqiao Ali Center to jointly establish the Solana Shanghai Builder Station. This site is supported by relevant government units in the Minhang District of Shanghai and is the first Builder Station set up by Solana in the Chinese-speaking market. It is also a co-creation space for developers centered around the international public chain ecosystem.The platform is positioned as a long-term infrastructure node for technological development, aiming to provide developers with technical co-creation, industry connections, and international links, while offering full-chain incubation support around Layer 1 underlying technology research, Web3 application development, and more.

The Hong Kong Monetary Authority, the Shanghai Municipal Data Bureau, and the National Blockchain Technology Innovation Center of China today jointly signed the "Memorandum of Cooperation on Digitalization of Freight Trade and Finance between Shanghai and Hong Kong" to further promote in-depth cooperation between Shanghai and Hong Kong in the fields of digital empowerment of freight trade and finance, leveraging Hong Kong's unique advantages as a "super connector" and "super value creator" to facilitate internal and external connectivity, and supporting Shanghai in connecting with the international data ecosystem through Hong Kong.According to the "Memorandum of Cooperation," the Hong Kong Monetary Authority, the Shanghai Municipal Data Bureau, and the National Innovation Center will jointly research innovative cooperation in digital technology and applications, promoting innovation in the application of digital technology in freight trade, finance, and other fields. The parties will jointly explore the use of digital technology to build a "cross-border platform," carry out cross-border financial cooperation in the Ensemble project, study how to apply electronic bills of lading, and promote integration with commercial data connectivity and CargoX, using freight and trade data to drive trade financing between the two regions.

According to Decrypt, South Korean Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho has pledged to undertake a comprehensive reform of the way public institutions handle digital assets.A series of previous incidents have exposed weaknesses in the government's custody and oversight of seized cryptocurrencies. Choo stated that he would collaborate with institutions such as the Financial Services Commission and the Financial Supervisory Service to examine the current status and management practices of digital assets held and managed by the government and public institutions through measures such as seizures, and to swiftly take action to enhance the security of digital assets to prevent similar incidents from occurring again. He emphasized that the digital assets held by the government are limited to those obtained through legal enforcement measures such as tax seizures or criminal investigations.

According to the Huaxia Times, the People's Court of Jing'an District in Shanghai recently heard a dispute case regarding virtual currency investment. Investor Ms. Wu invested 1.05 million yuan to purchase USDT under the inducement of a live-streaming host, but later was unable to withdraw her funds due to the trading platform being inaccessible.Both the first and second instance of the court dismissed Ms. Wu's claims, determining that virtual currency does not have the same legal status as legal tender, and that related trading activities are considered illegal financial activities, violating public order and good morals, thus constituting invalid civil actions, with losses to be borne by the investor herself. This case echoes the notice issued on February 6 by the People's Bank of China and eight other departments regarding "further prevention and handling of risks related to virtual currencies," reaffirming China's prohibitive policy stance on virtual currencies.

The Shanghai headquarters of the People's Bank of China held a press conference for the first quarter of 2026, introducing the financial operation situation of Shanghai in 2025 and answering questions from reporters. Zhou Peng, deputy director of the Monetary Credit Research Department of the Shanghai headquarters, stated that the People's Bank of China has made a series of new progress in promoting the construction of Shanghai as an international financial center and has implemented the refinancing policy for blockchain letters of credit in the shipping trade zone.The international operation center for digital renminbi has officially started operations in Shanghai, and the pilot program for the multilateral central bank digital currency bridge is also being advanced. Efforts are being made to enable the function of using bank cards and digital renminbi hard wallets to pass through the gates across the entire Shanghai metro system, fully supporting the preparation and operation of the International Monetary Fund (IMF) Shanghai center.

The People's Procuratorate of Pudong New District, Shanghai, disclosed a case involving an illegal industry chain that queries and sells citizens' location information. The individuals involved settled through the exchange of virtual currency, profiting illegally from it.Judicial appraisal shows that the illegally queried location information amounts to over 1,000 entries, with a total illegal profit of approximately 1.17 million yuan. Currently, the related individuals have been sentenced to fixed-term imprisonment ranging from three years and six months to one year, with fines ranging from 500,000 yuan to 40,000 yuan.

The People's Procuratorate of Pudong New District, Shanghai, has disclosed a case involving an illegal industry chain for querying and selling citizens' location information.The individuals involved settled through the exchange of virtual currency, profiting illegally. Judicial identification shows that over 1,000 pieces of illegally queried location information were involved, with a total illegal profit amounting to approximately 1.17 million yuan. Currently, the relevant personnel have been sentenced to fixed-term imprisonment ranging from three years and six months to one year, with fines ranging from 500,000 yuan to 40,000 yuan.

The A-share index continues to strengthen, with the Shanghai Composite Index rising nearly 0.6% during the session, breaking through 4100 points, reaching a new high since the end of July 2015.

Guided by the Chinese Criminal Law Research Association and the Shanghai High Court, the Shanghai Second Intermediate People's Court and the Law School of Renmin University of China jointly hosted a seminar on criminal trials, focusing on the theme of "Legal Uniformity in Cases Involving Virtual Currency Crimes." The discussion content is summarized as follows:The determination of "subjective knowledge" in virtual currency money laundering crimes should be assessed comprehensively to prevent objective attribution of guilt.The identification of the types of acts and standards for completion in virtual currency money laundering crimes involves: first, accurately grasping the essence of the crime, which is "concealing and disguising the source and nature of criminal proceeds and their profits"; second, the acts of concealing and disguising criminal proceeds and their profits, as stipulated in the elements of the money laundering crime, constitute the completion of the crime; third, strictly combating money laundering crimes in accordance with the law to resolutely safeguard national financial security.The determination of illegal operation crimes involving virtual currency indicates that if the behavior does not possess characteristics of business operations and merely involves personal holding or trading of currency, it is generally not recognized as illegal operation. However, if the individual is aware that others are illegally buying or selling or indirectly trading foreign exchange and still provides assistance through the exchange of virtual currency, and the circumstances are serious, they should be recognized as an accomplice in illegal operation crimes.

According to CoinDesk, London-based digital asset hedge fund Karatage has announced the appointment of Shane O'Callaghan as Senior Partner and Head of Institutional Strategy. O'Callaghan previously served as Global Institutional Partner and Head of Digital Asset Sales at Dutch market maker IMC Trading, and has held positions at Portofino Technologies and BlockFi.Founded in 2017, Karatage focuses on investments in digital assets, crypto funds, and blockchain-related companies. Karatage CEO Marius Barnett stated that this appointment will help the company "execute a higher level of strategy and grow more rapidly."O'Callaghan commented, "The company's unique proprietary capital, technological depth, and strategic vision are exactly what the market needs today, and I am excited to join the team to drive the next phase of the company's global institutional expansion."

The Shanghai Municipal Justice Bureau has issued a reminder that recently, many places across the country have seen a new tactic in telecom network fraud involving counterfeit supermarket "tasting cards" as bait. Related groups are luring individuals by distributing fake "tasting cards" offline, enticing them to scan a code to join so-called "benefit groups," and then carrying out scams such as transferring money for rebates.Police reports indicate that multiple cases have been solved in Shandong and other areas, with several suspects arrested. Investigations show that criminals use overseas communication software to contact their superiors and settle criminal proceeds through virtual currencies, making their activities highly concealed. The Shanghai Municipal Justice Bureau urges the public to enhance their awareness of prevention, not to scan unknown QR codes, and not to disclose personal information to unfamiliar platforms to avoid financial losses.

According to the disclosure from the Shanghai Procuratorial WeChat official account, the Shanghai Baoshan District Procuratorate, in handling a case of occupational crime, successfully initiated supervision on 24 cases involving 24 individuals through a penetrating review of funds, tracking the flow of funds. Prosecutors stated that the number of accounts involved in the underground money laundering gang was numerous, making the case very challenging, with a massive scale of financial transactions and a money laundering amount reaching 1.8 billion yuan. Ultimately, through pursuit and prosecution, they cracked down on money laundering activities that utilized virtual currency for cross-border transfer of illicit funds.In response to new and complex money laundering crimes such as underground money houses and virtual currencies, the Baoshan District Procuratorate guided public security agencies to penetrate fund accounts, clarify the sources and destinations of funds, secure electronic data, and make precise and effective accusations, fully ensuring the quality and effectiveness of the investigation and handling of money laundering cases.

According to Coinbob's popular address monitoring, this afternoon, the "Shanzhai Air Force Head" has been continuously increasing its short position in LIT, accumulating nearly 2 million tokens (approximately 5.62 million USD), and is still in the process of adding to its position. Its average holding price has dropped from yesterday's 2.82 USD to 2.77 USD. Apart from the HYPE spot short position used for hedging, this is the largest contract short position for this address, and also its largest short in LIT on the Hyperliquid platform.In addition, the "Zhuankong New Coin" trader (0x263) closed their 3x leveraged LIT short position yesterday, with an average holding price of 4.14 USD, realizing a profit of about 10,500 USD. This address shorted at the first opportunity when new coins like PUMP, MON, and LIT were listed on Hyperliquid contracts, all recording considerable returns.Furthermore, monitoring indicates that the "Shanzhai Air Force Head" is currently the largest short in UNI, ASTER, and LIT on Hyperliquid. It once held 22 short positions simultaneously, and after closing nearly half of its positions in December, it has recently started to establish multiple new short positions, with a current total holding size of approximately 31.46 million USD. Data shows that its win rate in the past 30 days has reached 80%, and its profits this year have reached 82.2 million USD.

According to Sina Finance, at the 8th CCF China Blockchain Technology Conference and the 2nd Global Blockchain Industry Summit, the "Blockchain Innovation Achievements Industrialization (Shanghai) Service Center" was inaugurated, and Shanghai Xujiahui Mall (Group) Co., Ltd. signed residency agreements with 8 blockchain companies.

According to the official WeChat account of the Shanghai headquarters of the People's Bank of China, recent illegal activities have been reported where criminals impersonate "digital yuan promotion" and "recruiting promoters" to lure the public into group chats and conduct "exams" and "courses" for brainwashing, implementing pyramid scheme fraud. The central bank reiterated that there is no speculation space for digital yuan, no commission subsidies exist, and no promoter exams have been set up.The public should be vigilant against inducements such as "high returns" and "referring others," avoid clicking on unknown links, and refrain from joining unfamiliar groups to prevent financial losses. If fraud is encountered, it should be reported to the police immediately.

According to Jinshi News, Shannon Saccoci, Chief Investment Officer of the Wealth Management Division at private investment management firm Neuberger Berman, stated in a recent memo that regardless of whether the Federal Reserve cuts interest rates this week, rates will eventually decline, driving the U.S. economy to accelerate again and opening up space for risk assets to rise. She pointed out that although market expectations for a 25 basis point rate cut by the Federal Reserve on December 10 have fluctuated dramatically, the overall accommodative policy stance of the Federal Reserve is constructive for the U.S. economy and risk markets.Saccoci emphasized that although there are still risks regarding the timing and magnitude of rate cuts, this will not change the ultimate destination: the federal funds rate will be lower and more accommodative in the second half of next year.