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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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OpenAI Foundation will donate $40.5 million to a U.S. nonprofit organization

On December 4, OpenAI’s nonprofit foundation announced it will donate $40.5 million to 208 U.S. nonprofits supporting local communities—marking the AI giant’s largest external charitable commitment to date. The grant aims to “expand AI’s opportunities” and will fund work in three key areas: AI literacy and public understanding, community innovation, and economic opportunity. While it’s OpenAI’s largest nonprofit expenditure to date, the donation represents just a fraction of the foundation’s roughly $13 billion in equity value following its recent corporate restructuring. A recent tax filing reveals the OpenAI Foundation donated $7.5 million last year. (Source: Gold10)

22 minutes ago

Bond investors are concerned that Haslet may be appointed as Federal Reserve Chair

On December 4, the Financial Times reported that bond investors have voiced concerns to the U.S. Treasury over the potential appointment of Kevin Hassett as Federal Reserve chair, fearing he would slash interest rates sharply to curry favor with Trump. Multiple sources said the Treasury held one-on-one talks last November with top executives at major Wall Street banks, asset management giants, and other key players in the U.S. debt market to solicit feedback on Hassett and other candidates. Those conversations were followed by final-round interviews of the candidates by Treasury Secretary Besen.

22 minutes ago

NVIDIA CEO: Energy to Become Next Global Bottleneck for AI

On December 4, NVIDIA CEO Jensen Huang stated that energy will become the next global bottleneck for artificial intelligence (AI). He noted that AI development is straining power supplies, and predicted small modular nuclear reactors (SMRs) will be widely used to power AI systems over the next decade. (Source: Golden Ten)

22 minutes ago

BlackRock CEO Admits Previous Opposition to Bitcoin and Cryptocurrency Was 'Wrong'

On December 4th, BlackRock CEO Larry Fink admitted at the New York Times DealBook Summit that he was “wrong” about his past opposition to Bitcoin and cryptocurrencies. When the host asked, “You once called crypto a ‘money laundering and thieves’ haven’ back in 2017—but now BlackRock holds the largest Bitcoin spot ETF. What changed?” Fink responded: “I have strong views, but that doesn’t mean I can’t be wrong. Through constant self-reflection and meeting with thousands of clients and government officials every year, my thinking has evolved, and my stance has shifted dramatically. Today, BlackRock is actively embracing Bitcoin.”

22 minutes ago

HumidiFi ICO JUP Staker Pool to Public Sale Pool Ratio Increased to 3%

On December 4th, Jupiter updated the ICO details for dark pool DEX HumidiFi again, increasing the token allocation for both the JUP staking round and public sale from 2% to 3%. Previously, the first-round sale (Wetlist) of HumidiFi’s WET token was postponed from 3:00 PM UTC on December 3rd to 9:00 PM UTC (5:00 AM Beijing time on December 4th). The Wetlist allocation was also adjusted from 6% to 4%.

22 minutes ago

Crypto Market Sees Bullish Trend Rebound, ETF Inflows Reach $1.1 Billion to Hit 7-Week High

On December 4, KobeissiLetter published a market analysis noting that cryptocurrency ETFs are making a comeback. Last week, crypto funds recorded a $1.1 billion inflow—hitting a 7-week high and reversing a prior trend of four straight weeks of outflows totaling $4.7 billion. U.S. crypto ETFs led with $994 million in inflows, followed by Canada ($98 million) and Switzerland ($24 million), while Germany posted a $57 million outflow. Bitcoin topped inflows with $461 million in net inflows, and ETH followed with $308 million in net inflows. Meanwhile, investors pulled $1.9 billion from Bitcoin short ETPs. Cryptocurrencies are regaining upward momentum.

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