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According to Caixin, poker master and seasoned cryptocurrency investor Hu Zheweng made significant bets during the three waves of cryptocurrency frenzy involving ICOs, algorithmic stablecoins, and AI tokens, but faced consecutive failures. Hu Zheweng claimed to have invested in the blockchain project Stratis, achieving a return of "over 1000 times."According to disclosed information, Hu Zheweng invested approximately 80 million USD in algorithmic stablecoin TerraUSD (UST) and its sister token LUNA from May 2021 to May 2022, with the peak market value of his holdings exceeding 800 million USD, but the price of LUNA subsequently nearly dropped to zero.In addition, Hu Zheweng has filed a lawsuit in Chicago, USA against the globally renowned quantitative trading firm Jump Trading and its related companies and executives in the cryptocurrency business, seeking at least 500 million USD in damages. After experiencing Stox and Terra, Hu Zheweng has not left the cryptocurrency market; last January, he bet on a new project by a Chinese computer professor Zhang Yongfeng. Zhang Yongfeng entered the Computer Science Department of Tsinghua University in 2007 and is currently a tenured associate professor in the Computer Science Department at Rutgers University in the USA. He has been sued by Hu Zheweng on multiple charges including "securities fraud." It is reported that the tokens issued by the organization founded by Zhang Yongfeng, in which Hu Zheweng invested millions of dollars, have fallen over 99.6% from their peak in 2025.

According to Caixin, on-chain perpetual contract platforms represented by Hyperliquid have quietly risen overseas for some time. The platform was founded by a former Wall Street high-frequency trading engineer, without external VC funding, relying on its self-developed dedicated L1 public chain and a full on-chain order book to stand out in the DEX track.The trigger that attracted the attention of the domestic market and regulatory authorities was the launch of popular perpetual contracts involving Chinese assets, combined with offshore derivatives such as oil contracts under the previous Iranian geopolitical conflict. While pricing diverse assets, the platform also challenges global financial regulation. Against the backdrop of the stalled progress of the Clarity Act in the United States, such offshore unlicensed derivative agreements continue to develop.

According to BBX data, last week, publicly listed companies in the US and Hong Kong disclosed the latest official accounts regarding digital asset treasury allocation and secondary market increases. The core updates are as follows:Strategy (NASDAQ: $MSTR) used cash to increase its holdings by 950 BTC, bringing the total to 846,000: According to the latest 8-K filing submitted by Strategy, the company utilized its own USD cash reserves to purchase 950 bitcoins at an average price of approximately $79,670 from September 14 to 20, 2026, totaling about $75.7 million. During the same period, the company did not sell any shares through its ATM program and spent $174 million to repurchase 1.7712 million shares of STRC preferred stock. As of September 20, Strategy held a total of 846,000 bitcoins (with a total holding cost of approximately $63.8 billion, at an average price of about $75,416); its USD reserve balance was $5.04 billion, and USD cash balance was $1.05 billion.Strive (NASDAQ: $ASST) increased its holdings by 1,355 bitcoins, surpassing 26,000: According to the 8-K filing submitted by Strive to the SEC, the company purchased 1,355 bitcoins at an average price of approximately $79,475 from September 14 to 18. As of September 18, Strive's total bitcoin holdings rose to 26,355 BTC. Additionally, its balance sheet also held 505,000 shares of Strategy STRC preferred stock (with a fair value of approximately $49.75 million) and about $229.6 million in cash reserves.BitMine increased its holdings by 27,000 ETH last week, with total holdings valued at $17.1 billion: Nasdaq-listed mining company BitMine disclosed that it increased its holdings by 27,562 Ethereum in the secondary market last week. As of September 20, 2026, its total Ethereum holdings reached 5,983,940 ETH (approximately 4.9% of the total supply of Ethereum). Currently, the total value of the cryptocurrencies, cash, and investment assets held by the company is approximately $17.1 billion (including $714 million in cash and securities, 212 BTC, $180 million in Beast Industries equity, and $105 million in Eightco investments). The number of staked Ethereum remains at 5,067,309 (85% of total holdings), valued at approximately $13.6 billion, with a current annualized staking yield of about $357 million.DeFi Development Corp (NASDAQ: $DFDV) significantly increased its holdings by over 100,000 SOL: According to documents submitted to the SEC, Solana treasury company DeFi Development Corp increased its holdings by 101,381 SOL and SOL equivalents from September 14 to 18. As of September 18, its total holdings reached 2,490,304, a week-on-week increase of about 4%. The company stated that the SOL held in the treasury will be comprehensively deployed through on-chain staking, operating validation nodes, and decentralized treasury infrastructure.Boyaa Interactive (00434.HK) spent over $11.5 million to increase its holdings by 152 BTC: Hong Kong-listed gaming company Boyaa Interactive announced that it used idle cash reserves generated from its daily operations to purchase 152 bitcoins at an average price of $75,899, totaling approximately $11.56 million (about HKD 90.63 million). As of the announcement date, Boyaa Interactive's balance sheet held a total of 4,468 bitcoins, with an average holding cost of approximately $68,543.

According to Caixin, the UAE investment firm Aqua 1 Foundation has invested $100 million to purchase WLFI tokens issued by World Liberty Financial, a cryptocurrency project of U.S. President Donald Trump's family, surpassing the total investment of $75 million by Sun Yuchen, becoming its largest buyer. The actual controller of Aqua1 was previously a mystery, but recently Zhou Guren, born in Shanghai, China in 1984, has come to light as the largest financier of WLFI tokens, with many questions surrounding the source of the funds.Zhou Guren is still listed as a dishonest person subject to enforcement on China's information disclosure website, with a total debt amounting to tens of millions across six cases. A recent indictment provided by the UK Crown Prosecution Service shows that Zhou Guren is also involved in a money laundering case that occurred in the UK. A Shanghai timber company for which he serves as the legal representative was also involved in a smuggling case in China.

On August 25, according to Hong Kong Stock Exchange documents, Alibaba Group Chairman Cai Chongxin purchased another 720,000 shares of Alibaba on Tuesday, costing 82 million Hong Kong dollars, following his initial purchase of 720,000 shares.After Alibaba announced a new share placement plan of 80 billion Hong Kong dollars, Group Chairman Cai Chongxin and CEO Wu Yongming increased their holdings by a total of approximately 120 million Hong Kong dollars in Alibaba shares. Among them, CEO Wu Yongming bought 350,000 shares of Alibaba's Hong Kong stock at an average price of about 111.6 Hong Kong dollars, costing approximately 40 million Hong Kong dollars. Together, the two increased their holdings by 1.07 million shares, totaling about 120 million Hong Kong dollars.The proceeds from Alibaba's 80 billion Hong Kong dollar new share placement will be fully invested in full-stack AI capabilities and AI infrastructure construction. The placement received active subscriptions from long-term investors such as global sovereign wealth funds, ultimately achieving nearly 3 times oversubscription.

According to the latest documents from the Hong Kong Stock Exchange, after Alibaba announced a new share placement plan of HKD 80 billion, the group's chairman Cai Chongxin and CEO Wu Yongming each increased their holdings of Alibaba shares by a total of approximately HKD 120 million.Cai Chongxin purchased 720,000 shares of Alibaba's Hong Kong stock at an average price of approximately HKD 112, costing about HKD 80 million; Wu Yongming bought 350,000 shares of Alibaba's Hong Kong stock at an average price of approximately HKD 111.6, costing about HKD 40 million. The two together increased their holdings by 1.07 million shares, with a total amount of approximately HKD 120 million.

According to Caixin, Yushu Technology has not yet officially gone public, but trading around this popular new stock has already begun in advance. On second-hand trading platforms like Xianyu, there are multiple pieces of information regarding the acquisition and sale of Yushu Technology's new stock subscription rights. Currently, several intermediaries are acquiring this new stock through various channels, with significant discrepancies in pricing. Some intermediaries are offering 520 yuan/share (the issue price is 150.8 yuan/share), while others are quoting 410 yuan/share. Among some investors and intermediary groups, this type of trading is also referred to as "dark trading."At present, this trading remains a very small-scale activity. Many market participants, including brokers and public funds, have stated that they had not heard of any so-called "dark trading" related to new stock subscriptions on the Sci-Tech Innovation Board before. Its sudden emergence may be related to Yushu Technology's extremely low subscription rate and high expectations for listing gains. The recent private acquisitions of new stocks in the A-share market are based on informal verbal agreements and are not legally protected.

According to official news, the global instant delivery track RWA project CCC (Courier Cycle Coin) completed a deep strategic signing ceremony for cross-shareholding with Binance's ALPHA zone Anome on August 5, 2026, achieving deep cooperation. At the same time, both parties jointly launched the three-party co-branded card pre-sale signing ceremony with the global Caishendao organization, completing the inaugural signing ceremony.It is reported that CCC integrates RWA and DeFi, puts the cash flow of electric vehicle rental business on-chain for rights confirmation, and realizes the same source of currency and stock through token dividends, driving business expansion and ecological market value growth with physical profits, thereby building a complete closed-loop operation system.

Caixin published an article titled "The Collapsed Balance Sheet of the Boxing Champion," which reveals that for the six individual creditor friends of Zou Shiming and his wife, the funds invested in P2P and virtual currencies are the only amounts that still have the possibility of recovery compared to other losses.Real estate has been sold, luxury goods have been discounted, the boxing gym renovation has been written off, and cross-industry projects have been shut down; these are all irreversible sunk costs. However, P2P and virtual currencies are different: if the platform has not completely liquidated, or if the wallet address can still be traced, there is theoretically room for subrogation. For example, the Beijing procuratorial authorities have successfully recovered over 89 million yuan in illicit funds by using penetrating reviews combined with blockchain big data analysis tools to trace the flow of virtual currencies.

According to Caixin, Xiao Rui, the son of former Wuhan Municipal Supervisory Commission member Xiao Jun, is suspected of receiving approximately HKD 4.72 million in bribes from mainland construction contractors on behalf of his father, and has laundered over HKD 64 million through underground money houses. On June 23, the Hong Kong Regional Court found Xiao Rui guilty of four counts of "money laundering" and one count of "using a false document," with the judge set to announce the sentence on July 23.In 2014, Xiao Rui was approved to reside in Hong Kong. That same year, he used his HSBC account to purchase two funds from Sun Life Financial for HKD 10 million to meet the investment requirements of the aforementioned immigration plan. Between January 2016 and September 2017, Xiao Rui's Standard Chartered and DBS accounts received multiple remittances, totaling over HKD 54 million.Regarding the "money laundering" charges, Xiao Rui argued in court that the large sums involved were legitimate earnings from his mother's business, given to him for investment in Hong Kong, with some funds also coming from the sale of Bitcoin. Concerning the explanation about Bitcoin, the judge rejected his testimony as Xiao Rui could not provide any basic records such as transaction dates, numbers, or wallet addresses.

A female tycoon in the domestic cryptocurrency circle encountered an investment scam in the United States, resulting in a loss of over $9.4 million (approximately 60 million yuan). Reports indicate that this individual is a certain Lv, the CEO of a computing power technology company in Southwest China, whose mining pool reportedly accounted for about 9% of the global Bitcoin total computing power at its peak.The report pointed out that two brothers, claiming to have a "Middle Eastern royal family" background, carried out the scam by forging identities. One of them claimed to be a "Middle Eastern royal family son-in-law" and asserted that he controlled funds from Middle Eastern families, international business relations, and resources from local governments in the United States; the other mimicked a character from the American drama "Billions," presenting himself as a hedge fund manager. The two also successfully contacted and influenced Michael Smedley, the chief of staff to the mayor of East Cleveland, Ohio, ultimately inducing Lv to sign a cryptocurrency mining field development contract.

According to Jinshi, citing a notice from Yaocai Securities, it was announced that the acquisition of Ant Wealth Holdings has been fully completed. Yaocai Securities stated that this acquisition will accelerate its digital transformation and upgrade. It will also ensure stable operations and strictly adhere to regulatory requirements in both mainland China and Hong Kong.Yaocai also refuted market rumors: "The company mainly serves local clients in Hong Kong and will not expand brokerage services to clients with mainland identities. In addition, Yaocai has no plans to venture into tokenized assets or other Web3 areas."

Caixin published an article titled "SpaceX's $1.75 Trillion IPO is Coming: Who Can Buy and Is It Worth It?" which pointed out that Wall Street has never encountered an IPO of such a massive scale that is also so intricately linked to the U.S. government.Previously, Nasdaq had approved a new rule for "Fast Entry," allowing newly listed companies to be quickly included in the Nasdaq 100 if their market capitalization ranks in the top 40 of the Nasdaq 100 index within 15 trading days after listing. This rule will officially take effect on May 1, 2026, and is considered to be designed with the upcoming SpaceX listing in mind, while also paving the way for potential listings of OpenAI and Anthropic within 2026 or 2027.Assuming SpaceX lists with a valuation of $1.75 trillion and a free float ratio of 25% to 30%, the free float market capitalization on the first day of the IPO would be approximately between $440 billion and $530 billion. Based on the weight calculations for the Nasdaq 100, SpaceX would directly enter the top ten weighted stocks. Market news indicates that S&P 500 is also evaluating some form of "Fast Entry" plan, with details yet to be disclosed.

According to Caixin, the second batch of Hong Kong compliant stablecoin licenses is currently under application. Reliable sources reveal that Futu Securities and OSL Group are both contenders for the second batch of licenses.However, in November last year, the People's Bank of China and 13 other ministries reiterated their stance on cracking down on virtual currency trading in China and classified stablecoins as virtual currencies, which means that trading stablecoins will not be possible in mainland China.

According to a Caixin article titled "Financial Innovation or Insider Trading: The Rise and Controversy of Polymarket," it points out that when insider information can be openly monetized, the boundaries of prediction markets have become blurred. Is this "gambling" disguised in financial clothing, or even suspected insider trading? However, regardless of the legal debate over whether it is gambling, the fact that Polymarket uses USDC stablecoin for settlement and delivery poses a significant legal risk for participants within China.Previously, U.S. Senators Merkley and Klobuchar proposed the "End Prediction Market Corruption Act," which prohibits the President, Vice President, and members of Congress from trading on prediction markets, and requires the prediction market trading activities of their spouses and dependent children to be included in annual financial disclosures.

According to Caixin, with the official implementation of new regulations on loan assistance and the slowdown in consumer credit demand, multiple consumer loan assistance platforms showed a consistent trend in the fourth quarter of 2025: revenue and loan issuance scale declined year-on-year, and net profit fell sharply.As the loan assistance business enters a contraction phase, various platforms are seeking "overseas expansion" and investing in the "crypto space" as a second growth curve. It is reported that platforms such as Lexin and Yirendai have already laid out overseas businesses, with Southeast Asia and Latin America becoming the main battlegrounds. Weixin Jinke has been continuously investing in the blockchain industry over the past two years.

Ant Group has completed the acquisition of Hong Kong stablecoin concept stock Yau Choy Securities, obtaining a 50.55% stake for HKD 2.814 billion. The board of Yau Choy Securities has been completely restructured, with Zheng Yanlan, the current head of the overseas business preparation team of Ant Group's Ant Wealth division, Huang Hao, the current senior vice president of Ant Group, and Liu Zheng, the current chief financial officer of Ant Group, appointed as executive directors.

According to Caixin, after 10 banks including the six major state-owned banks, 12 commercial banks may connect to the central bank's digital renminbi system. It is reported that seven national joint-stock banks, including Shanghai Pudong Development Bank, Guangfa Bank, Huaxia Bank, Minsheng Bank, CITIC Bank, Everbright Bank, and Zhejiang Commercial Bank, as well as five local city commercial banks, including Jiangsu Bank, Beijing Bank, Ningbo Bank, Nanjing Bank, and Suzhou Bank, are expected to join.As of now, there are 10 banks operating the digital renminbi, including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, Postal Savings Bank of China, China Merchants Bank, Industrial Bank, as well as WeBank and MYbank.