Justin Sun: Li Lin Once Concealed Due Diligence Materials, I Lent the Company $30 Million to Fill the Gap

January 14th — According to CCTV, former China Securities Regulatory Commission (CSRC) officials Yao Qian (ex-Director of the Science and Technology Regulatory Bureau and former head of the Information Center) was approached in 2018 by entrepreneur Zhang, who asked Yao to intervene on behalf of an ongoing initial coin offering (ICO). The ICO raised 20,000 ether (ETH), and Zhang transferred 2,000 ETH to Yao as a thank-you gift, CCTV reported. A task force found a hardware wallet in Yao’s office drawer, plus undisclosed accounts registered under other individuals’ names holding 10 million yuan. The funds were traced through approximately four layers of transactions, originating from a cryptocurrency trader’s account, and were ultimately used to purchase a villa in Beijing.

On January 14, CZ said during a Chinese AMA that the market trend over the next 3-4 months is unpredictable—adding that even the U.S. President likely can’t forecast that same window’s trend. He also warned novice traders against trading futures contracts, as volatility can lead to significant losses.

**Binance CEO CZ: Meme Coin Season Is Certain, Exact Scope/Scale Unclear** On Jan. 14, during a Chinese-language AMA, CZ noted the direction of meme coins is worth discussing. He emphasized the market has cycles, and future growth will include public chains and coins with real-world use cases. As such, a meme coin season is definite—though its exact scope and scale remain to be observed.

January 14th: CZ stated during a Chinese AMA that the BNB ecosystem remains relatively stable and large. He’s proud of the many active builders contributing to the BNB ecosystem, noting BNB still holds significant price potential. CZ added he still holds a large amount of BNB himself but cannot provide a specific price target.

On January 14, Tether CEO Paolo Ardoino tweeted that the firm’s Wallet Development Kit (WDK) is steadily expanding and now supports the RGB protocol.

January 14th — Per BlockSec Phalcon monitoring, the FutureSwap smart contract on Arbitrum was exploited again, resulting in an estimated loss of roughly $74,000. The attack leveraged a reentrancy bug in a two-step process: First, 3 days earlier, the attacker exploited the vulnerability during a liquidity provision to mint an excessive amount of LP tokens. Then, after waiting 3 days, they burned those illegally minted LP tokens to redeem the underlying collateral, siphoning protocol funds and profiting.