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Singapore's largest money laundering case suspect Wang Shuiming may be extradited to China, with his accomplice being the mastermind behind the Hong Kong crypto platform scam AAX.

2025.03.04 00:16:16

On March 4th, as reported by NetEase's PingWest Team, Wang Shuiming, who is from Anxi, Fujian and was involved in Singapore's largest money laundering case, has been arrested in Montenegro and is set to be extradited back to China. Wang Shuiming's partner, Su Weiyi, has been confirmed to be the mastermind behind the Hong Kong cryptocurrency exchange scam AAX and was apprehended by the Hong Kong police in July 2024. In November 2022, the Atom Asset Exchange suddenly suspended withdrawals and subsequently shut down, with Su Weiyi absconding with 16.74 million Hong Kong dollars (approximately 15.675 million yuan) in funds. In July 2024, Su Weiyi was arrested by the Hong Kong police. It is worth noting that Su Weiyi, along with other partners, owns other companies that have connections to convicted Filipino-Chinese former mayor Alice Guo.
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Analyst: Strong U.S. Employment Shows Economic Resilience, But Fed Faces High Uncertainty

February 12 – Vontobel analyst Andrew Jackson noted U.S. job growth in January topped expectations, again underscoring the economy’s resilience. However, the data failed to provide policymakers with much clearer guidance. While the current economic landscape is more predictable than early last year, uncertainty surrounding the Federal Reserve remains higher than that of many other central banks. For fixed income investors, the key takeaway is: “Credit fundamentals remain sound, macroeconomic conditions are still favorable, and the U.S. economy has shown notable resilience.” Concerns over elevated corporate bond valuations are also less prominent now than a year ago. “I think credit spreads could hold steady at current levels or even narrow modestly further,” Jackson said (per FX Street).

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Ethereum Market Cap Drops to 86th Among Global Mainstream Assets

On February 12, per 8Market data, Ethereum fell below $2,000, pushing its market capitalization to $231.97 billion—below PepsiCo’s $232.18 billion market cap—and landing it 86th among global mainstream assets.

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If Bitcoin drops below $65,000, the mainstream CEX long liquidation volume will reach 675 million.

On February 12, per Coinglass data, if Bitcoin drops below $65,000, cumulative long liquidation strength across major centralized exchanges (CEXs) will hit $675 million. Conversely, if Bitcoin rises above $69,000, cumulative short liquidation strength on major CEXs will reach $905 million. BlockBeats Note: Liquidation charts do not show the exact number of contracts to be liquidated or the exact value of liquidated contracts. The bars on these charts represent the relative importance of each liquidation cluster compared to adjacent clusters—i.e., "strength." As such, liquidation charts indicate how significantly the underlying asset’s price will react when it hits a certain level. A taller "liquidation bar" means the price will see a more intense reaction from a liquidity cascade once it reaches that threshold.

9 minutes ago

Greeks.live: Put Options Still Dominate the Market as Institutions Maintain a Bearish Outlook for the Mid- to Long-Term Landscape

February 12: Greeks.live shared on social media that put options continue to dominate the market. Today, large-scale Bitcoin (BTC) put options traded over $1 billion, accounting for 37% of total options volume, with most contracts falling in the $60,000-$65,000 strike price range. For maturity, focus centers on medium-term options expiring next month (March) — a sign institutions hold a bearish view on the medium-to-long-term market trend. Bearish expectations are particularly strong for the 1-2 month horizon.

9 minutes ago

Citigroup: Expects Fed to Start Cutting Rates in May, Earlier Expectation Was March

Citi expects the Federal Reserve to begin cutting interest rates in May, revising its prior forecast of a March start, according to FX678.

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「Whale」 liquidated 1800 ETH long position in the past hour, current liquidation price dropped to $1,886.59

**February 11th** Per HyperInsight monitoring (via its Telegram channel @HyperInsight), as the crypto market slid, the “Buddy” cut their 25x-leveraged ETH long position by 1,800 ETH in under an hour. The position was reduced to 500 ETH (valued at ~$869k), with a liquidation price of $1,886.59. Their account balance was just $43k, leading to a cumulative loss of $25.9 million.

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