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Caixin: Poker expert Hu Zheweng has suffered three consecutive losses in the cryptocurrency market and has filed a lawsuit against Jump Trading and Chinese professor Zhang Yongfeng

According to Caixin, poker master and seasoned cryptocurrency investor Hu Zheweng made significant bets during the three waves of cryptocurrency frenzy involving ICOs, algorithmic stablecoins, and AI tokens, but faced consecutive failures. Hu Zheweng claimed to have invested in the blockchain project Stratis, achieving a return of "over 1000 times."According to disclosed information, Hu Zheweng invested approximately 80 million USD in algorithmic stablecoin TerraUSD (UST) and its sister token LUNA from May 2021 to May 2022, with the peak market value of his holdings exceeding 800 million USD, but the price of LUNA subsequently nearly dropped to zero.In addition, Hu Zheweng has filed a lawsuit in Chicago, USA against the globally renowned quantitative trading firm Jump Trading and its related companies and executives in the cryptocurrency business, seeking at least 500 million USD in damages. After experiencing Stox and Terra, Hu Zheweng has not left the cryptocurrency market; last January, he bet on a new project by a Chinese computer professor Zhang Yongfeng. Zhang Yongfeng entered the Computer Science Department of Tsinghua University in 2007 and is currently a tenured associate professor in the Computer Science Department at Rutgers University in the USA. He has been sued by Hu Zheweng on multiple charges including "securities fraud." It is reported that the tokens issued by the organization founded by Zhang Yongfeng, in which Hu Zheweng invested millions of dollars, have fallen over 99.6% from their peak in 2025.

Robinhood Chain Research Report: In August, on-chain Gas revenue reached 6.6 million USD, and DEX trading volume rose to 1.5 billion USD

According to a report released by Spartan Capital, Robinhood Chain will launch its mainnet on July 1, 2026. By the end of August, the on-chain DEX trading volume had risen to $1.5 billion, with a TVL increasing to $711 million, and on-chain gas revenue in August reached $6.6 million.The report shows that most of the trading volume in August came from Uniswap, with a single-day on-chain fee reaching $2.1 million on August 31. Robinhood is responsible for running the sequencer and receives about 90% of the on-chain fees. After deducting Ethereum settlement costs and the 10% licensing fee paid to Arbitrum DAO, the net income for August was approximately $6 million. Regarding Robinhood Earn, users deposit USDG and borrow through Morpho, with the deposit scale increasing from $9.5 million on July 1 to $456 million on August 31, accounting for 68% of Robinhood Chain's TVL at the end of the month. Users can earn an estimated annualized yield of about 7%, while the yield on the loan side was approximately 3.7% at the end of August, with the difference subsidized by reward funds provided by Morpho and its lending partners.Meanwhile, the Meme ecosystem of Robinhood Chain is growing rapidly. By the end of August, over 340,000 tokens had been issued on-chain, with application layer transaction fees reaching $114 million in August. The report states that the trading volume of Meme and tokenized stock trading pairs is also growing rapidly, with the trading volume of Meme tokens paired with Robinhood Stock Tokens reaching $518 million in August. The report points out that the current trading activity on Robinhood Chain is still mainly driven by crypto-native users, and Robinhood's own 27 million funded accounts have not yet been migrated to the chain on a large scale. The gas subsidies in the Robinhood wallet will continue until September 29, and the Earn yield is also planned to be gradually reduced.
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