News linked to both this project and an event.
According to Bloomberg reports, Bobby Lee, founder of the digital asset hardware wallet company Ballet, stated in an interview with Bloomberg Television that the Bitcoin stolen in the Binance security incident is likely irrecoverable, as the related assets have already fallen into the hands of the hackers. He noted that stablecoins are currently the asset type with the most realistic chance of recovery, but freezing assets does not mean the recovery process is complete. Binance will still need to cooperate with law enforcement agencies on the investigation and formally apply to claim the frozen assets.
Odaily News: At TOKEN 2049 Singapore, Nasdaq CEO Adena Friedman stated that tokenizing Treasuries, equities, money market funds, and cash could enhance collateral liquidity and unlock billions of dollars in trapped capital across the global financial system. Institutional interest in tokenization has grown significantly over the past year, partly driven by the U.S. GENIUS Act establishing a regulatory framework for stablecoins. She noted that institutional interest is converging with retail demand for round-the-clock trading, with the retail ecosystem roughly 10 years ahead, but moving toward a fully 24/7 market is a massive undertaking for the financial industry, requiring risk and collateral management to operate continuously in real time. She also pointed out that AI is crucial for 24/7 trading, and Nasdaq has already launched digital agents on its risk management platform, initially providing recommendations, with banks potentially using them in the future to take more direct actions. Kraken co-CEO Arjun Sethi said that companies outside the U.S. are also highly interested in tokenization and accessing U.S. capital markets, including a company with approximately $25 million in revenue and larger international firms. Friedman cautioned that not all assets have sufficient liquidity to support a 24/7 trading environment.
The Thai government has officially issued an arrest warrant for Chinese businessman Wang Yicheng, accusing him of colluding with transnational criminal syndicates to launder billions of dollars through illegal cryptocurrency "mining" activities on behalf of cross-border internet fraud and online gambling syndicates. Reuters, citing an investigation by blockchain analytics firm TRM Labs, reported that Wang Yicheng's cryptocurrency wallet received at least $9.1 million (approximately HKD 71.35 million) between 2021 and 2022, with funds linked to "pig butchering" scams.Thailand's Special Investigation Department stated in a statement that U.S. law enforcement agencies have confirmed Wang Yicheng's involvement in a digital asset fraud case. The U.S. side had previously traced the flow of stolen funds from a victim in Massachusetts to an account registered under Wang Yicheng's name and seized approximately $500,000 worth of cryptocurrency. (Lianhe Zaobao)
: The US Department of Justice announced the seizure of an account that provided backend infrastructure for a subsidiary of Cambodia's Huione Group. Prosecutors stated that the account helped operate the Telegram marketplace Huione Guarantee, which matched stolen data, money laundering services, and tools for Southeast Asian scam operations.Additionally, on the same day, FinCEN took action to extend the existing Huione ban to its successor entity, H-Pay Service PLC, to prevent the group from circumventing US restrictions. According to court documents, the custody service operated by the account also assisted criminals, including money launderers, in cryptocurrency transactions. The case is currently being jointly investigated by the FBI's San Francisco office and IRS Criminal Investigation. (decrypt)
According to the HTX (formerly Huobi) announcement, HTX has enabled deposits for TWT and BILL tokens as of May 7 at 16:00 (GMT+8). Spot trading and grid trading for TWT/USDT and BILL/USDT will go live on May 7 at 18:00 and 19:00 (GMT+8), respectively. Withdrawals for TWT and BILL will be available on May 8 at 18:00 and 19:00 (GMT+8), respectively. Trust Wallet is a popular cryptocurrency hot wallet that allows users to retain full control over their funds. Its core feature is an integrated DApp browser offering a curated selection of decentralized applications, enabling direct staking and token trading. Billions Network is a universal “human-and-AI” collaboration network. It enables anyone to prove, in seconds, that they are a real and unique individual on-chain—without revealing any underlying personal data—providing humanity with a way to rebuild trust in every digital interaction and securely leverage AI agents.