Tether froze $42.4 million worth of its USDt months before US authorities obtained a court order to seize the funds. Now, two Thai businessmen whose wallets held the stablecoins are taking the company to court, turning a $61 million pig-butchering investigation into a much bigger fight over who has the power to freeze crypto.

According to Wallstreetcn, Chinese Commerce Ministry spokesperson Huang Ling said at a regular press briefing on the 3rd that using multilateral platforms such as the G20 to hype claims of "economic imbalance" and "overcapacity" is essentially protectionism and an excuse to pressure and restrict China, which China firmly opposes.

Spanish silicon photonics company iPronics said on Wednesday that it has completed a $125 million Series B round led by Maverick Silicon and Light Street Capital, with Nvidia participating. According to Sina Finance, the company said total funding has risen to $177 million, and the new capital will be used to expand operations, accelerate commercial deployment, and meet demand for its rack-scale optical switch product, Optical Networking Engine (ONE), in AI data centers. iPronics said its core product is a programmable optical circuit switch that uses silicon photonics chips to reconfigure intra-rack optical paths in under a millisecond. The company said the device can adjust the network when GPU failures or workload changes occur, and that it aims to shrink existing optical circuit switching equipment by about 20 times to fit more ports inside a rack. Its current chip is the 32-port ONE-32, with plans for 72-port and 144-port versions. The company said it was spun out of the Polytechnic University of Valencia in 2019 and is legally named IPronics Programmable Photonics, S.L. It has opened its first U.S. office in Santa Clara, California, and plans to use the latest funding to expand its local team and production. In January 2025, the company completed about 20 million euros in Series A financing and launched ONE-32. The round was co-led by Maverick Silicon and Light Street Capital, with Nvidia participating. Other new and existing investors include Triatomic Capital, Bosch Ventures, Catalight Capital, the European Innovation Council Fund, Tate Family Trust, Fine Structure Ventures, Amadeus Capital Partners, Build Collective, and Criteria Venture Tech. Maneesh Muthal, senior managing director at Maverick Silicon, joined the board, while Jeffrey Tate, former Rambus CEO and now a Light Street adviser, also joined the board. Zhenyao Sun of Catalight is serving as an adviser. Chief Executive Christian Dupont said the backing from Maverick Silicon, Light Street Capital, and Nvidia strengthens the company’s vision of making iPronics a leader in a new category of optical networking.

Audi (Shanghai) Technology Co. Ltd. was established on September 2 with registered capital of 694 million yuan, according to Jiemian News. The company’s legal representative is Matthias Johann Pfister, and its business scope includes research and development of auto parts, wholesale of auto parts and retail of auto parts. Shareholder information shows the company is jointly held by SAIC Motor Corp., Audi AG and Volkswagen (China) Investment Co. Ltd.

The China Securities Association has circulated a notice to brokerages seeking industry feedback on Draft No. 7 of its model practice series for securities firms' mergers and acquisitions, according to Jiemian News. The draft lays out key steps across the full process of brokerage M&A and restructuring, from feasibility studies and preparation to transaction execution and post-deal integration, and draws on completed merger cases as examples for the industry.

European stocks were little changed on Thursday as oil and bond markets stabilized, according to Bloomberg. Deutsche Telekom AG gained after news that activist investor Elliott Investment Management had built a sizeable stake in the company.

CNBC, part of Versant Media Group Inc., is shutting its Hong Kong office and canceling several daily live shows, according to Bloomberg.

Alibaba (09988) fell as much as 3.1% to HK$106.6, a one-month low, before closing down 2.6% at HK$107, according to ETNet. The stock traded 48.19 million shares worth HK$5.223 billion, with an active buy-sell ratio of 44:56 and net active selling of HK$533 million. It has now fallen for three straight sessions, down 6.3% in total. Alibaba's RMB counter (89988) dropped 2.8% to RMB91.55, with turnover of 30,900 shares worth RMB2.8655 million. The Hang Seng Index was down 0.5%, the Hang Seng China Enterprises Index fell 0.9%, and the Hang Seng Tech Index lost 1.3%.

Federal Reserve Chairman Kevin Warsh's target for monetary policy is, in effect, a super-version of a moving target. The key question is, after the Fed sets its interest rate policy, the target shifts again—is it truly aiming and firing?

Chow Tai Fook Jewellery Group (01929) fell as much as 5.1% to HK$11.94, slipping below its 50-day moving average of HK$12.006, before narrowing the decline to 4.5% at HK$12.01, according to ETNet. The stock traded as high as HK$12.64, with turnover of 27.89 million shares worth HK$339 million. It has fallen for four straight sessions, down 11.7% over that period. The Hang Seng Index was down 110 points, or 0.4%, at 25,201.

Thailand’s SEC has introduced new crypto Travel Rule requirements that will make regulated platforms collect and share more information about people involved in transfers. The rules take effect on 27 February 2027 and will require checks on self-hosted wallet ownership or control, with transfer records kept for at least five years.

CrowdStrike is taking a new approach to AI-powered cybersecurity with SafeMind, a system designed to bring offensive and defensive security capabilities together in a continuous testing loop.

Meme first brought in users, and then stocks and tokens began to supplement the asset layer. What truly determines the upper limit of this chain is whether these assets can be converted into long-term liquidity and enter the lending and derivatives system.

We contributed 1.5% of trade.xyz's total trading volume and can now wait for Hyperliquid's next quarterly airdrop.

Artificial intelligence, chips, semiconductors, Wall Street, "better than expected" but not as expected: Wall Street reassesses Broadcom. Golden Finance reports that AI chips brought in $16.7 billion in a single quarter.

Some researchers believe that Astra's performance improvement, thanks to its more powerful coding and computing capabilities, could be comparable to the leap OpenAI made when it released GPT-4 in 2023.

All financial innovations are essentially a repricing of liquidity and attention.

X did not immediately respond to requests for comment