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BTC $76,263.61 -1.15%
ETH $2,263.17 -2.24%
BNB $615.16 -1.33%
XRP $1.37 -0.97%
SOL $83.12 -1.28%
TRX $0.3255 +0.66%
DOGE $0.1064 -0.69%
ADA $0.2456 -1.32%
BCH $442.26 -2.23%
LINK $9.14 -1.40%
HYPE $39.00 -2.60%
AAVE $93.09 -2.73%
SUI $0.9059 -1.83%
XLM $0.1595 -1.46%
ZEC $333.83 +0.57%

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A partner at a law firm in Chongqing has gone missing, possibly involved in a 210 million yuan stablecoin bribery and money laundering case

Multiple independent sources have confirmed to Caixin that the founding partner and director of a law firm in Chongqing has recently been taken away by relevant authorities. This lawyer is Peng Jing, the founding partner and director of Chongqing Jingsheng Law Firm. There is speculation that she has numerous connections with the officials who have recently fallen from grace.According to analysts, lawyers from law firms are usually not taken away by the Central Commission for Discipline Inspection, "but Peng Jing has a very large network, and her case involves too many people." On March 20, 2026, Chongqing Mayor Hu Henghua was reported to be under investigation, and on April 17, Luo Lin, a member of the Chongqing Municipal Committee and secretary of the Liangjiang New Area Committee, was also announced to have fallen. Reports from the local political and business circles in Chongqing suggest that the downfall of Hu Henghua and Luo Lin is related to bribery and money laundering through stablecoins, and "Peng Jing may be a key figure, helping others launder money under the guise of collecting legal fees." Sources indicate that in the Hu Henghua case, Lin Kechuang, the son-in-law of Lin Xiucheng, gave Hu Henghua 30.8 million USDT (approximately 210 million yuan, of which 10 million was for exchange fees). After Hu Henghua was investigated, the cold wallet was controlled, and authorities traced the funds from six other cold wallets held by Lin Kechuang; among them, a transfer of 15.5 million USDT that occurred simultaneously with Hu Henghua's was claimed by Lin Kechuang to have been sent to Luo Lin. Luo Lin was taken away by relevant authorities on April 14, 2026, and his home was searched on the evening of April 15, but this cold wallet was not found. Subsequently, authorities found Luo Lin's cold wallet at a third party's home.

Overview of the 2026 Q2 crypto project TGE timeline, MegaETH becomes the core anchor point of this round's window period

Web3 asset data platform RootData released the progress data for the 2026 Q2 TGE. From the time distribution perspective, the crypto market is entering a concentrated release period for Q2 TGE, with market risk appetite and liquidity activity rebounding in sync. Among them, MegaETH has become the core anchor point of this window period. This project focuses on "ultra-high performance real-time execution" of EVM L2. After completing a $30 million financing, it officially TGE'd on April 30 and simultaneously launched on major exchanges such as Coinbase, Upbit, and Bithumb. According to the "Upcoming Issuance" section data from RootData's market, TGE is showing characteristics of a "short-term concentrated explosion": on April 29, Gensyn completed its TGE, on the 30th, MegaETH and Real Finance TGE'd simultaneously, and on May 1, Kuvi followed closely with its launch. Avant is expected to push forward its TGE in the latter part of Q2. At the same time, Polymarket data also provided forward-looking signals: before June, it may enter a peak issuance interval. Dreamcash (64%), Arc (46%), and Oro (40%) are in the first tier and may form the core of the next liquidity competition. Overall, this round of Q2 TGE is not a confirmation signal for the market but rather the starting point for liquidity redistribution. The subsequent market strength will depend on the absorption capacity of the new supply and the degree of support from the project's fundamentals for valuation.
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