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The Interpol Operation Jackal IV has arrested 58 people, focusing on cracking down on investment fraud such as cryptocurrency scams

According to IT Home, the International Criminal Police Organization (INTERPOL) has announced the results of the new anti-fraud operation "Jackal IV." This operation will last from November 2025 to June 2026 and involves 22 countries and regions worldwide, focusing on combating online financial crimes such as romance scams, cryptocurrency and investment fraud, email scams, and money laundering. A total of 58 people were arrested in this round of operations, and the identities of 263 individuals involved have been confirmed.Among them, the Argentine police seized a "Crime-as-a-Service" (CaaS) network that provided website domain and money laundering services, arresting 17 people and confirming the identities of 196 individuals involved. The South African police raided 7 locations in Johannesburg, arresting 39 suspects accused of romance scams and investment fraud targeting retirees from English-speaking countries, while seizing $2.67 million and freezing 257 bank accounts.In addition, the Italian police confirmed one suspect involved in a cross-European money laundering network, discovering that a single bank account was linked to money laundering transactions amounting to €845,000; the Romanian police dismantled an investment fraud gang, arresting 11 people and seizing illegal assets such as cash, cryptocurrency, and real estate.

first_img Ethena expands basis trading to stock perpetual contracts, expecting that RWA perpetuals will surpass crypto derivatives within 12-24 months

The cryptocurrency protocol Ethena, which issued $4 billion in synthetic US dollars (USDe), announced plans to expand its basis trading strategy to stock perpetual contracts. According to Ethena's data, the open interest in stock perpetual contracts has grown tenfold to $6.2 billion since March. Over the past few months, the funding rates on Hyperliquid and Binance averaged approximately 14% and 17.5%, respectively, while the Bitcoin funding rate during the same period was only in the low single digits.Ethena pointed out that the average Bitcoin funding rate was 11% in 2024, 4.9% in 2025, and has dropped to 2.2% as of August 11 this year. In contrast, stock perpetual contracts had positive funding rates on 94% of trading days on Hyperliquid and 97% on Binance, with a median funding rate of 13.9%, while Bitcoin's was 3.9%. Co-founder Guy Young stated that stocks tend to rise in the long term, creating a continuous demand for leveraged longs to pay fees, and that the funding rate for stocks has almost no correlation with Bitcoin, providing USDe with a revenue source that relies less on the crypto market.The global stock market had a market capitalization of approximately $166.5 trillion in July, far exceeding the crypto market's approximately $2.2 trillion. This expansion is one of Ethena's initiatives to seek new revenue sources after the supply of USDe fell from a peak of about $15 billion to below $5 billion. Last week, it also announced a $1 billion financing arrangement with FalconX.
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