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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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Alibaba’s massive share offering drags down Hong Kong’s stock market; Michael Burry says he will not consider buying again unless the share price is cut in half.

Alibaba announced Sunday that it plans to conduct a new share placement in Hong Kong. The company said the total size of the offering is HK$80 billion (US$10.2 billion), which will be the largest primary follow-on offering in the history of Hong Kong-listed firms. Following the news, Alibaba’s Hong Kong-listed shares opened lower and trended downward today, with the intraday maximum drop exceeding 10% and the current decline narrowing to 9% per Bitget market data. The Hang Seng Index was dragged down by the stock, falling 1.9% on the day, while the Hang Seng Tech Index dropped 3.58%. Separately, "Big Short" investor Michael Burry updated his views on Alibaba on X, revealing he had switched his Alibaba position to JD.com a few months ago. "Issuing stocks is now Alibaba's new normal. I won't consider it again unless the stock falls by half from here."

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The total number of accounts on #TRON has officially surpassed 400,000,000!

The total number of accounts on #TRON has officially surpassed 400,000,000!

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Upbit places The Sandbox (SAND) on its trading alert list.

Upbit has placed The Sandbox (SAND) on its trading alert list, and deposit and withdrawal services for the token are currently suspended. On August 22, The Sandbox confirmed a cross-chain bridge vulnerability affecting the Base and BSC networks, with the project’s official team suspending cross-chain functions.

7 minutes ago

Preview: US Treasury Secretary Scott Bessent will unveil details on Iran sanctions at 2:00 tomorrow, which may trigger market volatility.

According to reports from authoritative outlets including Reuters, U.S. Treasury Secretary Scott Bessent will unveil details of new sanctions on Iran at 2 p.m. Eastern Time, equivalent to 2 a.m. Beijing time tomorrow. The crypto market has been rallying for several consecutive days ahead of these Iran sanctions, so if the details exceed market expectations, significant volatility is likely to hit both the stock market and crypto assets. Earlier, Bessent wrote in the Financial Times that the U.S. is entering a decisive phase, with an economic "D-Day" for Iran approaching at dawn—what he termed the largest financial offensive ever launched against an adversary. When elaborating on the related sanctions measures, Bessent specifically added that "no further 'large-scale' military operations are expected."

7 minutes ago

Bitcoin ETFs recorded inflows of $1.92 billion last week, marking the largest such inflow in nearly 10 months.

As Bitcoin prices surged, spot Bitcoin ETFs posted their strongest weekly net inflow in 10 months last week. Data indicates the 13 U.S.-listed funds attracted a net $1.92 billion, the highest such figure since October last year. The inflow came amid Bitcoin’s roughly 23% price jump last week, marking its largest weekly gain in over three years.

7 minutes ago

Stablecoin digital bank Fasset closes a $68 million funding round at a $1 billion valuation, led by Japan’s SBI Group.

Stablecoin digital bank Fasset announced it has completed a $68 million funding round led by Japan’s SBI Group, bringing the company’s valuation to $1 billion. Combined with the $51 million financing it secured in May, Fasset has raised a total of $119 million so far this year. Co-founder and CEO Mohammad Raafi Hossain stated that the firm’s annualized transaction volume has surpassed $40 billion, spanning 125 countries. Over the past year, its revenue has grown approximately sixfold year-over-year, and it has maintained consecutive profitability for 12 months, though specific revenue and profit figures were not disclosed. (CoinDesk)

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