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Prince Group Joint Temporary Liquidators: Chinese victims may be able to file claims, over 90,000 BTC has flowed through related entities

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.

first_img Franklin Templeton completes the final regulatory procedures before the listing of the Bitcoin dividend ETF

According to Bitcoin Magazine, Franklin Templeton, with assets under management of $1.7 trillion, has completed the final regulatory procedure before listing two ETFs that convert stock dividends into Bitcoin.On October 22, the company submitted Form 8-A to the U.S. Securities and Exchange Commission to register shares of the Franklin US Equity Bitcoin DRIP Index ETF and the Franklin US Innovation Bitcoin DRIP Index ETF for trading on NASDAQ. The prospectus submitted on the same day indicates an effective date of October 27. These two funds were first filed in June of this year, with codes and fees not disclosed at that time.The stock fund code is FBEQ, which tracks the VettaFi US Large-Cap 500 Bitcoin DRIP Index. This index holds the 500 largest companies in the U.S. by market capitalization, weighted by free float. As of September 30, it actually held 499 stocks, with a concentration in the information technology sector. The fund's initial allocation is 95% stocks and 5% Bitcoin, with regular or special dividends distributed by companies being used to purchase Bitcoin at the opening of the next trading day after the ex-dividend date, increasing the Bitcoin allocation with each dividend payment.During quarterly rebalancing, any Bitcoin allocation exceeding 5% will be reduced to 4.5%; if the Bitcoin allocation exceeds 20% between two rebalancing periods, it will be brought down to 4.5% within two trading days, with the funds flowing back into stocks. The fund does not directly hold on-chain Bitcoin but gains exposure through Bitcoin exchange-traded products (including its own spot fund), futures and options, or depository receipts, with some achieved through a subsidiary in the Cayman Islands. The FBEQ fee is 0.09%, with no 12b-1 fees, managed by Franklin Advisory Services, and Franklin Templeton Institutional serves as a sub-advisor. The innovation fund employs the same mechanism, tracking the VettaFi US Innovation 100 Bitcoin DRIP Index, with components from the 100 largest non-financial companies listed on NASDAQ.Franklin Templeton had previously filed for a spot Bitcoin ETF in September 2023 and launched it in January 2024 under the code EZBC; in April of this year, it acquired 250 Digital and established an institutional digital asset department, Franklin Crypto. These two DRIP funds extend the strategy to investors who will not purchase Bitcoin on their own.

first_img Tempo has launched the Zones privacy system into production, with Deel as the first customer

On October 14, the stablecoin payment blockchain Tempo announced that the payroll payment platform Deel has become the first customer to use its Zones privacy system in a production environment, with contractor balances and payment histories no longer publicly accessible. According to the case study released by Tempo, the funds deposited by Deel's treasury department into its Zone remain visible on the public network, but which contractors received payments, how much each received, and what assets they hold are private; contractors can view their own balances, while Deel retains access for reconciliation and auditing.Each Zone maintains a private ledger connected to the Tempo public network through a portal that holds endorsed assets. According to Tempo's privacy documentation, operators can read the ledger, while deposits and withdrawals will leave records on the public network, including the amount of tokens and public network addresses. Operators can also restrict the participants and assets supported by the Zone and apply the transfer policies of the token issuers. Tempo demonstrated an example of private accounts using public financial products: after depositing into the Zone, accessing public Earn products, and then bringing the positions back to the Zone, their balances and holdings remain private.This launch adds privacy features to Deel's existing wallet, which was opened to qualified contractors in over 80 countries in August. Tempo stated that this integration does not change Deel's existing customer wallet and treasury infrastructure, with embedded wallet service provider Privy supporting Zones through its API.

Franklin Templeton manages assets of 1.79 trillion USD, exploring regulatory exemptions for tokenized fund trading

Global investment management company Franklin Templeton is exploring regulatory exemptions that would allow tokenized money market funds and ETFs to trade on blockchain trading venues. On October 9, the company met with staff from the U.S. Securities and Exchange Commission (SEC) cryptocurrency working group to discuss legal issues related to pricing, fees, and asset pools.The agenda included whether investors could exchange blockchain fund shares for tokenized national market system stocks through blockchain trading venues, and whether liquidity providers could charge service fees. Related issues involve pricing rules under the Investment Company Act and whether exemptions are needed. Regarding tokenized ETFs, Franklin Templeton also discussed forming trading pairs with tokenized stocks, approved payment stablecoins, or tokenized money market funds, as well as whether liquidity pools need to obtain investment company regulatory exemptions.As of September 30, the preliminary disclosed assets under management amounted to $1.79 trillion. Franklin Templeton's blockchain fund record-keeping business began with the launch of the Franklin Onchain U.S. Government Money Fund in 2021. The BENJI token represents shares of this fund, and transferring the token will simultaneously transfer the corresponding shares, with related transactions recorded and tracked by the Benji Technology Platform.

first_img Franklin Templeton collaborates with Animoca Brands to integrate RWA into NUVA

Global investment management firm Franklin Templeton and digital asset and artificial intelligence company Animoca Brands announced a strategic partnership to integrate tokenized physical assets into the vault market NUVA Finance, supported by Animoca Brands. The collaboration will expand NUVA's coverage from existing Provenance blockchain assets to institutional-grade assets from more asset issuers and explore the joint design and tokenization of cultural physical assets.NUVA was co-incubated by Animoca Brands and Nuva Labs and is set to launch in May 2026, with its vault capable of accessing assets on the Provenance blockchain. As of September 24, 2026, the total locked value of physical assets on that chain exceeds $30 billion. The two parties also launched a joint research series consisting of four parts, covering the significance of tokenization for institutional investors, progress in driving market development, and changes in how institutions assess assets and build portfolios.Animoca Brands co-founder and executive chairman Yat Siu: This collaboration will integrate institutional-grade physical assets into NUVA's vault architecture, combining asset management with decentralized distribution channels. Franklin Templeton's Head of Digital Assets and Innovation Sandy Kaul: The focus of the next phase is to expand access to and use of relevant assets and incorporate them into the digital investment ecosystem. As of August 31, 2026, Franklin Templeton manages assets totaling $18.3 trillion, and both parties expect to announce more details about the cultural asset collaboration later this year.

DeepSeek's financing scale may reach 12 billion USD, with Tencent and Contemporary Amperex Technology Co., Ltd. planning to invest

According to Bloomberg, the AI company DeepSeek is nearing the completion of a new round of financing, expected to reach at least 80 billion yuan (approximately 12 billion USD), significantly exceeding the company's previous financing target of about 50 billion yuan. Insiders revealed that Tencent Holdings and Contemporary Amperex Technology Co., Limited (CATL) have committed to investing a substantial amount in this round of financing, with the related financing deal expected to be finalized soon.Due to the significant increase in market demand and investment interest following the release of DeepSeek's latest AI model, the scale of this financing has exceeded expectations, and the final amount may even approach 100 billion yuan. Previously, DeepSeek sought financing of about 50 billion yuan, while investor interest in its AI technology advancements has driven the financing scale further upward. DeepSeek has previously attracted attention from institutions such as Tencent and CATL, and is expanding its computing power infrastructure, AI model research and development, and team building through this financing.Bloomberg Línea reported that DeepSeek plans to conduct an initial public offering (IPO) in early 2027, and this large-scale financing will provide funding support for its development before going public. DeepSeek has gained global attention with its low-cost, high-performance AI models and is currently increasing its investment in next-generation AI technology and computing resources.
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