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Chen Zhi, a 28-year-old from Fujian, founded Prince Group, the largest real estate conglomerate in Cambodia. He was later indicted by the U.S. Department of Justice for alleged transnational online fraud and money laundering, with $15 billion worth of bitcoin seized. His fraudulent empire involved large-scale online gambling and "pig-butchering" scams, and maintained operations by bribing public officials in multiple countries. Although he enjoyed a reputation as a philanthropist and entrepreneur in Cambodia, the true nature of his business empire has now been exposed.
![[Bitpush Weekend Review] Trump nominates SEC crypto task force chief legal advisor Michael Selig as CFTC Chairman; Trump says at a private gathering that cryptocurrency could help solve the $35 trillion US debt problem; Bloomberg: Since the introduction of regulatory bills in the US, the proportion of stablecoins used for payments has surged by 70%](https://img.bgstatic.com/multiLang/image/social/6f7dc601c3d5c684dffeb2a0f54b0e661761530402644.png)
Quick Take Summary is AI generated, newsroom reviewed. Wallets tied to FalconX and Wintermute recently bought 21k SOL (~$3.9 M) and 71.5k SOL (~$12.5 M) in one transaction. SOL currently trades near ~$190, matching transaction USD conversions of ~$3.9 M for 21k SOL (≈ $185 each). 71.5k SOL equals roughly 0.015% of Solana’s ~470 million circulating supply. Hong Kong’s SFC approved the first spot SOL ETF under ChinaAMC for listing on October 27, 2025.References X Post Reference
In fact, it will take us several years to obtain a validity proof for Ethereum consensus.
The Federal Reserve held its first Payments Innovation Summit, discussing the application of stablecoins, tokenized assets, and DeFi in the payments sector. The conference proposed establishing Federal Reserve accounts with limited access to reduce risks and explored how to make traditional systems compatible with blockchain. Cryptographic technologies are now becoming a central topic in payment discussions, and institutional investors may prioritize assets like bitcoin and ethereum. Summary generated by Mars AI. The accuracy and completeness of this AI-generated summary are still being iteratively improved.
The role of cryptocurrency in Argentina has fundamentally changed.
- 02:11Fortune reveals White House banquet donors, including Ripple, Gemini, and othersBlockBeats News, on October 26, Fortune magazine revealed that a total of 37 donors provided funding for the construction of the White House banquet hall, including Silicon Valley tech giants and cryptocurrency companies. Among them: Corporate donors include Meta, Apple, Amazon, Google, Lockheed Martin, Microsoft, Comcast, Altria, Hard Rock International, Micron Technology, Caterpillar, Booz Allen Hamilton, HP, Booz Allen Hamilton, NextEra Energy, Reynolds American, T‑Mobile, Palantir Technologies, and cryptocurrency companies Tether America and Ripple; Private and family donors include: Adelson Family Foundation, Stefan E. Brodie, Betty Wold Johnson Foundation, Charles and Marissa Cascarilla, Edward and Shari Glazer, Harold Hamm, Benjamín Leon Jr., the Lutnick family led by U.S. Secretary of Commerce Howard Lutnick, and Gemini co-founders Cameron Winklevoss and Tyler Winklevoss, among others.
- 02:11Singer JJ Lin posts another photo with VitalikBlockBeats News, on October 26, singer JJ Lin once again posted a photo with Vitalik on social media, stating, "It's always a pleasure to communicate with Vitalik. We had an in-depth discussion about how technology can inspire more people to live sustainably and with focus." As previously reported by BlockBeats, on September 22, 2024, singer JJ Lin posted a photo with Ethereum founder Vitalik Buterin on the X platform. In the post, JJ Lin said: "Glad to collaborate with Vitalik Buterin and the Ethereum team at Miracle Coffee in Singapore." On September 23, 2024, Ethereum co-founder Vitalik Buterin commented on JJ Lin's tweet with their photo, saying, "Believing in love for a day surpasses forever. In this moment, time is frozen." BlockBeats Note: Vitalik's response quoted lyrics from the song "Jiangnan," which is included in JJ Lin's 2004 album "Second Heaven."
- 02:10Openmarkets plans to raise $50 million for DeFi and overseas expansionChainCatcher News: According to market sources, Australia-based fintech infrastructure provider Openmarkets Group has announced plans to raise $50 million to support its entry into the decentralized finance (DeFi) sector and expand into overseas markets such as Singapore, Hong Kong, and the United States. The company provides application programming interfaces (APIs) for financial institutions, enabling them to offer clients access to both Australian and international stock markets. The company's near-term plans for the raised funds include launching cryptocurrency trading services, tokenizing real-world assets, and building a digital treasury to manage its holdings of cryptocurrencies, stablecoins, and other digital assets. Openmarkets Group CEO Dan Jowett revealed that the treasury will be managed by third-party institutions, which may also make strategic investments in other Web3 companies. Initially, the focus will be on tokenizing illiquid assets such as private credit and equity funds. The company's entry into this sector is described as a "medium- to long-term strategy" that will be implemented in phases. Currently, the company is in discussions with a certain exchange and other major liquidity providers to ensure sufficient liquidity for its cryptocurrency trading services.