According to Foresight News, the Zhoushan Dinghai Court recently concluded a case involving the use of USDT transactions for criminal activities. Between October 2022 and August 2023, an individual named Huang organized a group, including Yao, Guo, Yu, and others, to register multiple 'businesses' on a foreign virtual currency platform. They profited through joint dividends and buying USDT at low prices to sell high. The court noted that the suspects were aware of potential illegal activities upstream in the transactions. Despite this, they used employee WeChat accounts to receive transfers from victims Gan and Wen, subsequently depositing Tether into designated accounts to facilitate the transfer of funds related to telecom fraud and other crimes. During this period, the 'businesses' frequently encountered WeChat account suspensions and freezes due to suspected fraud. The involved parties resorted to fabricating false transaction screenshots and courier numbers to unfreeze accounts or switched accounts to evade regulation. The Dinghai Court considered the roles of each defendant in the joint crime, their restitution efforts, and their attitudes towards admitting guilt. Huang was sentenced to two years and eleven months in prison and fined 50,000 yuan for aiding information network criminal activities. Nine accomplices, including Yao and Guo, received sentences ranging from seven months to two years and three months, all with probation, and were fined. The court ordered the return of 877,000 yuan in seized illicit funds to the victims, and the confiscation of mobile phones, hard drives, and other tools used in the crime.

According to SoSoValue data, on October 31st (Eastern Time), the US Solana spot ETF saw a total net inflow of $44.48 million, marking the fourth consecutive day of net inflows. The Bitwise Solana spot ETF (BSOL) also saw a single-day net inflow of $44.48 million, with a historical total net inflow of $197 million. The Grayscale Solana spot ETF (GSOL) saw no net inflows or outflows. As of press time, the total net asset value of the Solana spot ETFs was $502 million, with a net asset value ratio of 0.49%, and a historical cumulative net inflow of $199 million.

In recent crypto news, On-chain detective ZachXBT called out FTX founder Sam Bankman-Fried for misrepresenting the recovery process. This was after SBF posted on social media claiming “this is where the money went. ” For context, creditors of the cryptocurrency exchange FTX are receiving repayments based on asset values from the November 2022 bankruptcy filing source: https://www.thecoinrepublic.com/2025/11/01/ftx-creditors-repaid-at-2022-prices-miss-massive-gains-on-sol-and-btc/

في آخر أخبار العملات الرقمية، قام زاك إكس بي تي، المُحقق في سلسلة التشفير ZachXBT، باستدعاء مؤسس FTX سام بانكمان-فرايد لتحريفه عملية الاسترداد. كان ذلك بعد أن نشرت SBF على وسائل التواصل الاجتماعي مدعيةً أن “هذا هو المكان الذي ذهبت إليه الأموال”. source: https://www.thecoinrepublic.com/ar/2025/11/01/%d8%af%d8%a7%d8%a6%d9%86%d9%88-ftx-%d9%8a%d8%b3%d8%af%d8%af%d9%88%d9%86-%d9%85%d8%b3%d8%aa%d8%ad%d9%82%d8%a7%d8%aa%d9%87%d9%85-%d8%a8%d8%a3%d8%b3%d8%b9%d8%a7%d8%b1-2022%d8%8c-%d9%88%d9%8a%d9%81%d9%82/

The Dinghai District Court in Zhoushan, Zhejiang Province, concluded a case involving an accomplice in the Tether (Tether) cryptocurrency scandal. The defendant registered multiple "businesses" on an overseas cryptocurrency platform, profiting through joint ventures and profit-sharing schemes involving buying low and selling high with Tether. Knowing that illegal activities might exist upstream in the transactions, the defendant still assisted in transferring funds related to telecommunications fraud and other crimes, accumulating over 5 million yuan in payments and settlements related to cybercrime. This was deemed a "serious offense," and the defendant was sentenced to imprisonment and fined. The 877,000 yuan in seized funds was returned to the victims. (Zhoushan Dinghai Court Official WeChat Account)

According to information on the relevant page, Binance has now added Chinese input support to its token deposit function. Users can directly use Chinese to search for and input token names after updating the app.

According to Foresight News, California Democratic Representative Ro Khanna has introduced a resolution aimed at supporting legislation to prohibit the issuance, sponsorship, or endorsement of digital assets by the President, Vice President, members of Congress, public office candidates, public officials, senior executive branch employees, special government employees, and their immediate family members. This includes cryptocurrencies, meme coins, stablecoins, tokens, NFTs, digital trading cards, and DeFi platforms. The resolution also advocates for elected officials, candidates, and their immediate family members to transfer their digital assets into a blind trust, which would be inaccessible during the politician's candidacy, tenure, and for two years after leaving office. Additionally, it supports the requirement for politicians, candidates, and their families to fully and promptly disclose all cryptocurrency transactions. Fox News reports that the resolution is unlikely to pass in the House of Representatives due to the Republican majority. Furthermore, even if the resolution is approved, it would still need to undergo the legislative process to be enacted into law.

Elon Musk launched X Chat, an encrypted messaging app using Bitcoin-style technology to rival WhatsApp and Telegram. source: https://www.cryptopolitan.com/musk-reveals-x-chat-messenge/

According to Onchain Lens monitoring, about 40 minutes ago, a newly created wallet received 9,272 ETH from Galaxy Digital, worth approximately $35.77 million. It is very likely that the wallet belongs to Bitmine, the largest holder of Ethereum, or SharpLink, the second largest holder.

An anonymous X account known as @Mystral_777 has ignited a storm across crypto Twitter after dropping a 10-part exposé in form of a thread accusing crypto exchange MEXC of everything from $10 million in frozen withdrawals and listing fee extortion to sexual misconduct by executives, including references to leaked videos and alleged hush payments. The […] source: https://www.cryptopolitan.com/x-account-mystral-accuses-mexc-execs/

In other parts of the world, regulators are increasingly viewing cryptocurrency mining as a heavy burden on power supply and infrastructure, leading to responses that are drastically different from those in the United States.

Jinse Finance launches its cryptocurrency and blockchain industry daily news bulletin, "Jinse at 8 AM," issue 2864, providing you with the latest and fastest news on the digital currency and blockchain industry.

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From MYX to COAI, the so-called 10x or 100x myths are nothing more than a faster way to exit positions under the spotlight of Binance Alpha.