In Qingdao, China, a man stole 107 BTC from an acquaintance while "helping register a wallet," and was sentenced to 10 years and 9 months in prison for theft.
On May 31, a high-profile Bitcoin theft case concluded in Qingdao, China, with a court upholding a lengthy prison sentence and clarifying how Chinese law classifies cryptocurrency, per local judicial dispatches.
The Licang District Prosecutor’s Office in Shandong Province led the case, and the final ruling was affirmed on appeal. The defendant, identified as Zhang, gained access to an acquaintance’s cryptocurrency wallet mnemonic phrase while helping the individual set up their account. He later transferred 107 Bitcoin in multiple transactions—assets valued at over 50 million yuan (roughly $6.9 million) at the time of the crime. Zhang converted the stolen crypto to 660,000 yuan (about $91,000) in cash, but claimed his actions amounted to “protective control”—a defense rejected by prosecutors and judges.
In its ruling, the court confirmed Bitcoin qualifies as property under Chinese criminal law. While China does not recognize cryptocurrency as legal tender, judicial authorities hold t
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After reaching a new all-time high, the HYPE TWAP net buy volume has decreased, with the next 24-hour net buy volume at $3.91 million.
May 31: Per data from hl.eco, HYPE surged and hit a new high of $70 at noon today. However, TWAP net buy volume showed a downward trend, with a net sell volume of $202,000 in the past hour. The projected net buy volume for the next 24 hours is $3.91 million, compared to roughly $54 million earlier today.
BlockBeats Note: The TWAP (Time-Weighted Average Price) trading algorithm divides a large order into numerous smaller orders, executing them evenly at regular intervals within a set time frame. It is a widely used algorithmic trading strategy designed primarily to lower market price impact when placing large orders.
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HYPE Surges Above $70 in a Short Time, Hits New All-Time High
May 31, per HTX market data, HYPE briefly surged above $70, currently trading at $69.845 with a 6.4% 24-hour gain, notching another all-time high.
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「Stock Market Guru」 Trump Strikes Again: Predicts IBM's Rise in December, Government's $1 Billion Investment in May Boosts Stock Price
**May 31 Update: Resurfaced Trump Video Praising IBM Tied to Recent Stock Surge**
A viral video clip of former President Donald Trump lauding IBM CEO Arvind Krishna during a December White House roundtable is back in the spotlight, fueled by the tech giant’s massive recent win.
In the old footage, Trump noted IBM’s stock had climbed from a low point and predicted it would “go even higher”—a projection that’s looking timely now: on May 21, IBM landed a $1 billion U.S. Department of Commerce grant under the CHIPS Act to build a quantum chip factory, news that pushed its shares up roughly 17.7% over the past week, bringing them near their all-time high.
Adding a new layer: The Trump Trust quietly bought a small IBM stake on March 21, per newly released 2026 first-quarter U.S. Office of Government Ethics (OGE) Form 278-T financial disclosures. The transaction was modest, with shares purchased for an amount between $15,001 and $50,000, the filing shows.
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Trump Reveals Perfect IQ Test Score, Calls It "Rare Achievement"
On May 31, former President Trump took to Truth Social to announce the results of his latest medical exam at Walter Reed National Military Medical Center, describing them as "very ideal." Unlike other presidents who have never completed any approved, high-difficulty cognitive assessments, Trump claimed he scored a perfect 30 out of 30, earning a classification of "very high intelligence." Trump added this was his fourth time taking the specific cognitive test, noting he has secured a perfect score every time by correctly answering all 120 questions. He called achieving this perfect score four times in a row "truly rare" and advocated that all candidates running for president and vice president be required to undergo more rigorous cognitive tests.
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