‍ICBC Singapore Pilots Digital Yuan Top-Ups for Overseas Users ICBC Singapore has launched a pilot program allowing residents to top up digital yuan (e-CNY) wallets directly from local bank accounts. This initiative, guided by the People’s Bank of China and the Monetary Authority of Singapore, simplifies e-CNY use for international travelers, enabling retail spending in mainland China without a local bank account. The project streamlines cross-border access by integrating Singaporean financial infrastructure with the e-CNY ecosystem, addressing previous difficulties for foreign visitors. It also represents a strategic step towards the internationalization of the digital yuan, aiming to bolster financial cooperation between Singapore and China. This pilot program serves as a model for future cross-border retail interoperability of CBDCs.
Cryptovka
ICBC Singapore Pilots Digital Yuan Wallet Top-Ups for Overseas Users
The Industrial and Commercial Bank of China (ICBC) Singapore branch has successfully launched a pilot program allowing residents to top up digital ...
‍Trend Research Amasses $1.72B in Ethereum, Employing High Leverage Investment firm Trend Research, linked to Jack Yi, has significantly increased its Ethereum holdings to $1.72 billion, acquiring an additional 46,379 ETH valued at $137 million. The firm has leveraged DeFi protocols, borrowing 887 million USDT against its ETH collateral, approaching a 2x leverage ratio. Despite current unrealized losses estimated at $141 million, this aggressive accumulation, averaging $3,208 per ETH, signals strong long-term conviction. Previously, the entity demonstrated successful market timing with a $24.48 million profit from a short position. The current strategy, a pronounced "buy the dip" philosophy supported by substantial debt, highlights high-stakes investment in the Ethereum ecosystem.
Cryptovka
Trend Research Accumulates $1.72B in Ethereum Amid Market Volatility
The investment firm Trend Research, associated with prominent figure Jack Yi (Yi Lihua), has significantly expanded its exposure to Ethereum (ETH) ...
‍SEC Sues Morocoin, Berge, and Cirkor Over $14 Million Crypto Fraud Scheme The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against three cryptocurrency trading platforms—Morocoin, Berge, and Cirkor—and four associated investment clubs. The SEC alleges they orchestrated a fraudulent scheme that defrauded investors of over $14 million. The defendants allegedly used social media ads to funnel individuals into private WhatsApp groups, promising high yields from AI-driven recommendations. Tactics included presenting fabricated government licenses, falsified trading records, and bogus withdrawal fees. The SEC is seeking permanent injunctions, civil penalties, and disgorgement of ill-gotten gains. The case highlights challenges in investor protection due to investment solicitation on encrypted messaging apps.
Cryptovka
SEC Sues Morocoin, Berge, and Cirkor Over $14 Million Crypto Fraud Scheme
The U.S. Securities and Exchange Commission (SEC) has initiated legal action against three purported cryptocurrency trading platforms—Morocoin, B...