Circle Q3 Earnings Report: Exploring Issuance of Native Token on Arc Network, USDC Quarter-end Circulating Supply Reaches $73.7 Billion

November 12th: Presently, Tang Kriang Kai, a Cambodian Chinese national and a transnational criminal engaged in an illegal blockchain fundraising project, was accompanied by the Thai police to Bangkok Suvarnabhumi Airport and extradited to China. Prior to this, on November 10th, the Office of the Attorney General of Thailand declared that the Appeals Court affirmed the ruling of the first-instance court to extradite Tang Kriang Kai to China for trial regarding his illegal activities such as operating an illegal casino, which violated Chinese law. Tang Kriang Kai's principal crime was to establish and operate 239 illegal gambling websites, with the involved funds amounting to more than 1.263 trillion Thai Baht (approximately RMB 2.77 trillion). He had been engaged in gambling and telecom fraud activities for a long time in Myanmar's Myawaddy KK Special Economic Zone and the "Asia Pacific New City," luring Chinese citizens to participate in illegal transactions through online platforms.

On November 12th, US Treasury Secretary Yellen stated that major tariff-related news would be announced in the coming days.

On November 12th, according to a report by Caixin, Qian Zhimin, the mastermind behind a 60,000 BTC money laundering case, was sentenced to 11 years and 8 months in prison at Southwark Crown Court in the UK on Tuesday. Since Qian Zhimin was remanded in custody on April 23, 2024, and about 18 months have passed, this time will be directly deducted from his total sentence. According to the UK's "automatic release halfway" rule, ordinary offenders with fixed sentences can transition to the community supervision stage after serving half of their sentences. Based on this calculation, it is expected that she will be released in late February 2030. In addition, Qian Zhimin will also be subject to a 5-year Serious Crime Prevention Order (SCPO), which will take effect upon her release. Analysts point out that Qian Zhimin's sentencing marks the end of the criminal aspect of this case, but the real complexity of how to handle the 60,000 bitcoins has just begun.

On November 12th, Morgan Stanley presented an analysis of Tesla's future stock price within 6 to 12 months. It was stated that the key drivers of Tesla's stock price in the upcoming year would involve: xAI Association: The financial and strategic connection between Tesla and Musk's AI startup xAI is of great significance as they share data and software synergies; Full Self-Driving (FSD): Musk claimed that version 14.3 would enable the driver to "send texts while driving," which marks a significant milestone in algorithmic driving; Chip Production: Musk hinted that Tesla might construct its own chip factory to ensure the supply of AI and strengthen vertical integration. AI Network Vision: Tesla has the potential to transform idle vehicles into a distributed AI cloud, forming a vast "cluster" intelligent network. Morgan Stanley mentioned that these developments could serve as potential long-term catalysts for Tesla's valuation and technological leadership. Previously, on November 7

On November 12th, according to the report in "Fortune", the crypto blockchain Seismic announced the completion of a $10 million funding round. This round was led by a16z crypto and participated by Polychain, Amber Group, TrueBridge, dao5, and LayerZero. Before this, on March 6, 2025 (it should be noted that there may be an error in the date as 2025 is in the future and it's not clear if this is a typo or a specific planned date), Seismic announced the completion of a $7 million seed round. This seed round was led by a16z crypto and participated by Polychain Capital, 1kx, dao5, and NGC Ventures.

On November 12th, as per TheBlock, Liz Martin, a former partner at Goldman Sachs, has joined Coinbase as the Vice President of Product. She is in charge of the market and derivatives business. She will lead the next stage of growth for Coinbase's derivatives business and manage its global market team.