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New York Man Sentenced to Four Years in Prison for Alleged Manipulation of $7 Million Cryptocurrency Investment Scheme

8 hours ago

On July 10th, as per an announcement from the Supreme Court of the United States, Douglas Jae Woo Kim was handed a 48-month federal prison term today for defrauding investors of more than $7 million in cryptocurrency and other funds. This sentence was pronounced by Senior District Judge Charles R. Breyer of the United States District Court. During a three-week trial in February 2025, the 32-year-old New York resident Kim was found guilty by a federal jury of 14 counts including wire fraud, international money laundering, and money laundering. One count of international money laundering was dismissed. During today's sentencing hearing, Judge Breyer, due to jurisdictional reasons, dismissed one of the money laundering counts related to monetary instruments. Court documents and trial evidence showed that from October 2017 to June 2020, after moving to San Francisco, Kim defrauded multiple family and friends who were investors by posing as a legitimate cryptocurrency trader. He falsely claimed to need short-term liquidity funds for cryptocurrency trading or other legitimate business purposes, assured the victims that the loans were "zero risk or very low risk," promised high returns, and claimed to have sufficient funds for personal guarantees.
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Bullish is partnering with the Solana Foundation to advance on-chain stablecoin applications and plans to gradually introduce Solana technology.

On July 10th, on the digital asset platform Bullish, it was announced that they had entered into a partnership with the Solana Foundation. This partnership will utilize the Solana native stablecoin for the exchange's custody, payment, trading, and settlement services. The two parties have the goal of building efficient and low-cost on-chain financial infrastructure. By combining Bullish's deep liquidity with Solana's high-speed network advantage, they aim to achieve better results. Bullish plans to gradually introduce Solana technology to support payments and future product innovation.

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PUMP traded on the Hyperliquid pre-market for 6 hours, with a trading volume exceeding $64 million.

On July 10th, based on Hyperliquid market data, PUMP was launched 6 hours ago in the pre-market. Currently, the trading volume is $64.19 million and the open interest is $36.25 million. The current pre-market price of PUMP is $0.005248.

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Binance will support the League of Kingdoms (LOKA) token swap and rebrand to Arena-Z (A2Z)

On July 10th, as per official channels, Binance is set to support the League of Kingdoms (LOKA) token swap and rebranding initiative to Arena-Z (A2Z). Consequently, Binance will halt trading and remove all existing LOKA spot trading pairs (LOKA/BTC and LOKA/USDT) at 11:00 (UTC+8) on July 28, 2025, and will automatically cancel all orders. The A2Z/BTC and A2Z/USDT spot trading will commence at 16:00 (UTC+8) on July 30, 2025. Furthermore, Binance will suspend the deposit and withdrawal services for the old LOKA token at 11:30 (UTC+8) on July 28, 2025.

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Guotai Junan International Research Report: It is Highly Likely that the Stablecoin Market will Present a "Dual-Track Parallel" Development Feature in the Future

July 10th. Guotai Junan International has recently released a digital asset research report titled "Inspiration from Tether: Can Non-USD Stablecoins Break Through?". The report stated that with the establishment of stablecoin regulatory frameworks in major countries and economies around the world, the global digital asset market is undergoing a historical transformation. The bank pointed out that after years of development, non-USD stablecoins have expanded their foundation. This year's "de-dollarization" trend has also provided new opportunities for non-USD stablecoins. Judging from the current regulatory framework and development status of the stablecoin market, it is very likely that the stablecoin market will present a "dual-track parallel" development feature in the future. On one hand, led by US domestic compliant stablecoins, it serves the heavily regulated traditional financial and institutional markets, emphasizing security, transparency, and legal protection. On the other ha

5 minutes ago

MEXC Launchpad is officially launching KLK Foundation (KLK), with a limited-time subscription to share 174,000 KLK.

On July 10th, according to official channels, the MEXC Launchpad has officially launched the KLK Foundation (KLK). Users are able to participate in the subscription at an extremely low price of 0.1 USDT before 16:00 on July 11th, 2025 (UTC+8) and share 174,000 KLK.

5 minutes ago

A newly created address has deposited 4 million USDC into Hyperliquid and has taken a short position on PUMP with 1x leverage.

On July 10th, as per the monitoring of LookOnChain, a newly established wallet transferred 4 million USDC into Hyperliquid and took a short position of PUMP with 1x leverage. Currently, the value of this position is $1,059,298.52.

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