The "Middle Eastern Royal Family" Crypto Scam Case Verdict Announced, Female Crypto Mining Circle Investor Loses Nearly $130 million
June 11 — In a recent ruling on a cross-border fraud case in Ohio, two masterminds have been sentenced to 24 and 23 years in prison, respectively, and ordered to pay roughly $21.2 million in restitution.
The case involves Zubair Al-Zubair, 42, and Muzammil Al-Zubair, 31, who were accused of impersonating Middle Eastern royal family members and hedge fund managers long-term. They ran a scam under the guise of "government collaboration plus cryptocurrency mining investments," leveraging forged identities and official connections to win victims’ trust. Investigations showed the pair bribed local officials to secure titles like "international economic consultant" to boost their projects’ credibility.
One key victim was a Chinese cryptocurrency investor with a background in Bitcoin mining in Sichuan before relocating to the U.S. He was lured into a fake Ohio mining project, investing cash and equipment, resulting in total losses of nearly $18 million.
Other scheme victims were aske
1 seconds ago
「Trump Phone」 Disassembled: Highly Similar to HTC Model, 'Made in America' Claim Questioned
On June 11, a joint technical analysis from NBC News and repair service iFixit revealed that the so-called "Trump Mobile T1" has an internal structure nearly identical to the HTC U24 Pro—a smartphone released two years earlier.
The analysis documented a high degree of matching across the two devices’ motherboard layout, core components, and overall exterior design. The HTC U24 Pro, manufactured by Taiwan-based tech firm HTC, relies heavily on parts from Chinese supply chains.
Notably, the Trump Mobile T1 was previously marketed as "American-made," but its actual supply chain and design origins have sparked widespread public doubt about its true manufacturing authenticity. Technical tests—including full hardware scans and microscopic teardowns—confirmed the extreme hardware overlap between the T1 and U24 Pro, reinforcing market perceptions that the Trump Mobile T1 is little more than a rebranded HTC device.
1 seconds ago
JPMorgan Chase: May CPI May Have Peaked, Fed May Stay "On Hold," But Market Still Betting on Rate Hike by Year-End
June 11: U.S. May Consumer Price Index (CPI) rose 4.2% year-over-year, hitting a three-year high. However, J.P. Morgan Asset Management believes this data may have hit the peak of the current inflation cycle.
David Kelly, the firm’s Chief Global Strategist, said that while inflation remains above the target range, the Federal Reserve will most likely keep interest rates steady at its upcoming meeting and wait for more data to adjust policy.
Core CPI rose 0.2% month-over-month, falling short of market expectations. Analysts pointed out that the drop in gasoline prices is a key sign that inflationary pressure may ease, though the energy market remains highly volatile due to geopolitical conflicts.
In terms of market expectations, traders have fully priced in a rate hold for the June Federal Reserve meeting, but there are differing views on the policy path by year-end. Interest rate derivatives markets show a significantly higher probability of a rate hike before the end of the y
1 seconds ago
Binance Wallet Launches SPCX x IPO Event, Opens SpaceX Tokenized Stock Purchase
June 11 – Binance Wallet announced today it will launch the SPCX x IPO Campaign, opening a subscription channel for tokenized SpaceX securities to eligible users. Participants can take part in potential IPO price discovery through the xStocks mechanism.
Key details of the offering: The minimum subscription amount is 100 USDC, with a reference price of roughly 135 USDC — which corresponds to a valuation of approximately $1.75 trillion. The subscription window runs from June 11 to June 12, 2026. Users must lock up USDC to participate; final allocations will be determined by the issuer and underwriter based on demand, and any unallocated funds will be fully refunded.
The announcement clarified that SPCXx is a tokenized asset issued by Backed via xStocks. It only provides price tracking exposure, not direct ownership of SpaceX stock. Additionally, SPCXx does not come with dividends, voting rights, or any other shareholder privileges.
This offering uses Binance Wallet’s Alpha Points tier
1 seconds ago
ECB Considers Rate Hike to Address Energy Shock Inflation, Potentially Marking First Tightening Since 2023
June 11 – The European Central Bank (ECB) is widely projected to announce an interest rate hike this Thursday, its first such increase since 2023, as policymakers aim to counter the energy price surge sparked by tensions in the Middle East.
Market participants are largely pricing in a 25-basis-point lift to the ECB’s deposit rate, pushing it from 2.00% to 2.25%. The move is designed to tamp down inflation tied to tight energy supplies amid escalating tensions in the Strait of Hormuz.
Official data puts the Eurozone’s May inflation rate at 3.2% – a full percentage point above the ECB’s 2% target – with rising energy prices cited as the main driver of the uptick.
The policy adjustment unfolds against a weakening Eurozone growth backdrop, as the region’s economy shrank in the first quarter. Several economists have warned the rate hike could further weigh on growth and erode consumer confidence.
Analysts note that the Federal Reserve and Bank of England have not aligned their policy ti
1 seconds ago
Trump's Shift in Attitude Towards "Embracing Inflation" May Provide Policy Space for Incoming Fed Chair Powell
June 11 – Per CNBC, U.S. President Donald Trump has made a notable shift in his stance on inflation and interest rates. Following a 4.2% year-over-year rise in May’s Consumer Price Index (CPI), Trump publicly said, “I like inflation,” and called the data “great” — a sharp contrast to his repeated past criticism of former Federal Reserve Chair Jerome Powell.
Market analysts believe this attitude shift could create a more politically supportive environment for new Fed Chair Kevin Wash as he sets monetary policy, reducing the political pressure he faces to cut interest rates immediately.
CNBC’s report notes that current market expectations are for the Federal Reserve to hold the federal funds rate steady in the 3.5% to 3.75% range at its upcoming June 17 policy meeting.
Since taking office, Wash has repeatedly emphasized focusing on the “potential inflation rate” rather than short-term price swings, and has taken a cautious approach until inflation shows clear signs of cooling. T
1 seconds ago
App Store
Profile
Security
Sign Out
Feeds
Articles
Source
Add to Favorites
Download image
Share x
Copy link
