Qian Zhimin Case Chinese Victims Raise Objections to Compensation Plan for 61,000 Confiscated Bitcoins
**March 12th Update**
Chinese victims of the Qian Zhimin case are challenging a UK-proposed compensation scheme, per the Financial Times. The plan would funnel compensation through China’s domestic mechanism—but victims argue it would leave UK authorities with most of the appreciation gains from 61,000 bitcoins (BTC) seized by London police in a money laundering probe.
Court filings show the dispute has been filed with the UK High Court, where the victims’ group is seeking recovery of the seized crypto assets. Bitcoin’s price has surged sharply since the seizure; the trove is now worth roughly £3.2 billion ($4.3 billion).
Law firm Candey, representing ~5,700 victims, says the proposed plan fails to guarantee fair compensation. Court documents note the fraud impacted more than 128,000 Chinese investors. The case underscores a key legal issue with seized crypto: assets can skyrocket in value between seizure and compensation.
The dispute stems from a Chinese investment fraud sc
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Binance Alpha will delist MIRROR, SHARDS, and other tokens
**Official Sources: Binance Alpha to Remove Tokens from Watchlist on March 12, 2026**
According to official sources, Binance Alpha will remove the following tokens from its watchlist at 8:00 PM UTC+8 on March 12, 2026:
- MIRROR (Black Mirror Experience)
- SHARDS (WorldShards)
- FST (FreeStyle Classic)
- DGC (DecentralGPT)
- COA (Alliance Games)
- ULTI (Ultiverse)
- TGT (TOKYO GAMES TOKEN)
- AGON (AGON Agent)
- BNB Card (BNB Card)
- AFT (AIFlow)
- PFVS (Puffverse)
- SGC (SGC)
- RDO (Reddio)
- ELDE (Elderglade)
- MILK (MilkyWay)
- TAT (Tell A Tale)
- BOT (Hyperbot)
- SSS (Sparkle)
- SUBHUB (SubHub)
- PLANCK (Planck)
- OOOO (oooo)
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Analyst: Bitcoin Maintains Resilience in Market Turbulence, Market Consolidation Clears Leverage for Next Leg Up
March 12th, CoinDesk analyst Omkar Godbole noted that Bloomberg has reiterated its prediction: Bitcoin could drop to $10,000 — a price level not seen since mid-2020. Industry observers, however, call this forecast too absurd.
Yet on Deribit, the largest crypto options trading platform, roughly $800 million in open interest is tied to put options with a $20,000 strike price, betting the token will fall below that level. This is the platform’s fourth-most popular bearish bet, signaling some traders are prepping for a potential plunge. Deribit, though, says not all positions are direct wagers on a price collapse.
Deribit’s Global Head of Retail Sales, Sidrah Fariq, explained: “Most positions are more about selling put options than directional long hedging. Traders often sell far-out-of-the-money puts because the odds of those levels being hit are extremely low.”
Meanwhile, Bitcoin has shown notable resilience, hovering around $70,000 even as benchmark oil prices approach $100 ami
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JPMorgan Chase Sued by Investors Over Alleged $3.28 Billion Cryptocurrency Ponzi Scheme
**March 12th — JPMorgan Chase is facing a proposed class-action lawsuit from investors, filed Tuesday in the U.S. District Court for the Northern District of California.**
Investors accuse the bank of providing banking infrastructure to defunct crypto firm Goliath Ventures and turning a blind eye to suspicious transactions. They claim JPMorgan enabled Goliath to access investor funds via its account system, even as CEO Jamie Dimon publicly criticized Bitcoin.
The lawsuit further alleges JPMorgan should have uncovered during its Know Your Customer (KYC) process that Goliath operated a crypto investment fund pool structured as “private equity” without the required sales permit, and failed to block wire transfers tied to crypto scams.
**Background:** On February 24th, the U.S. Attorney’s Office for the Middle District of Florida announced Goliath CEO Christopher Delgado’s arrest. He faces up to 30 years in federal prison if convicted. Prosecutors say the Ponzi scheme ran from Jan
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