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Shield is a crypto bank that enables exporters and importers to conduct cross-border transactions using cryptocurrency while also providing compliance screening. Previously, Shield was a blockchain security company.
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Hong Kong police launch "Gobi and Wind Shield" operations to crack down on illegal gambling during the World Cup and trace virtual asset bets
: The World Cup will kick off on June 11, and the Hong Kong police have launched the Gobi and Wind Shield operations, targeting illegal offshore gambling through publicity, education, intelligence, and law enforcement. The police noted that in recent years, illegal gambling has become increasingly digitalized, including online betting, solicitation of gamblers via social media, and settlement of bets with virtual currencies. The police stated that they still have the capability to trace participants.According to the law, placing bets with offshore bookmakers carries a maximum penalty of 9 months in prison and a fine of HK$50,000. Accepting bets carries a maximum penalty of 7 years in prison and a fine of HK$5 million. Money laundering carries a maximum penalty of 14 years in prison and a fine of HK$5 million. The police also shared the case of a young man who was addicted to offshore gambling, at one point owing as much as HK$160,000. A police clinical psychologist warned that those who start gambling before the age of 18 have an over 80% risk of developing gambling disorder later in life. (Sing Tao Daily)
Genius Group Launches AI Treasury Strategy, Planning to Allocate $100 Million into Equity Stakes in Private AI Companies Including OpenAI and SpaceX
According to GlobeNewswire, Genius Group, a U.S.-listed Bitcoin treasury company, announced that its Board of Directors has approved an expansion of the company’s treasury strategy—adding an AI Treasury to its existing Bitcoin Treasury and launching the AGI Infinity Portfolio. The initial investment target is $100 million, with a five-year goal of scaling up to $800 million. In the first phase, approximately $20 million will be allocated via relevant funds to equity stakes in private AI companies including OpenAI, SpaceX, Anthropic, Figure AI, Databricks, Anduril, Replit, and Shield AI. The remaining $80 million is planned for investments across the AI value chain—including power infrastructure, computing capacity, hyperscale cloud services, frontier AI models, and robotics.