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ETH $2,340.48 -1.47%
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SOL $89.94 +2.39%
TRX $0.3446 +0.76%
DOGE $0.1116 -3.75%
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BCH $461.11 -2.04%
LINK $10.08 +1.58%
HYPE $43.34 -2.25%
AAVE $94.19 -0.75%
SUI $1.00 +0.63%
XLM $0.1621 -1.02%
ZEC $563.26 -5.70%

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The number of participants in Gate WCTC S8 has surpassed 56,000, unlocking a prize pool of 880,000 USDT

According to the official page, the Gate WCTC S8 global trading competition continues to gain popularity. Currently, the number of registered participants has reached 56,000, with over 8,000 teams participating, and the total unlocked prize pool has reached 880,000 USDT.As one of the key events for Gate's 13th anniversary, WCTC S8 officially started on April 23 and has now entered the second half of the team competition phase. The event features a parallel mechanism of team competitions, individual competitions, and 1v1 PK matches, covering different types of trading users. Among them, the team competition ranks based on yield and trading volume, while the individual competition covers the entire trading cycle, and the PK matches further enhance the event's real-time interactivity.Compared to previous editions, this year's event has further expanded in trading dimensions, integrating spot, contract, and some TradFi assets into a unified statistical system. Meanwhile, the prize pool adopts a dynamic unlocking mechanism, continuously releasing rewards as the number of effective participants increases.Currently, WCTC S8 has become one of Gate's key annual global trading events. As the event progresses, the scale of participation, prize pool data, and platform trading activity are all showing growth, further demonstrating the driving effect of large trading competitions on user participation and multi-asset trading scenarios.

The U.S. SEC has charged 21 individuals with insider trading across borders, with the case spanning a period of ten years

The U.S. Securities and Exchange Commission (SEC) announced that it has filed lawsuits against 21 individuals, accusing them of participating in a nearly decade-long cross-border insider trading scheme, allegedly profiting millions of dollars illegally by using undisclosed material information leaked by several international law firms.The SEC pointed out that Los Angeles mergers and acquisitions lawyer Nicolo Nourafchan and his partner Robert Yadgarov organized and operated this insider trading network. Nourafchan is accused of stealing significant non-public information related to more than 12 corporate merger transactions from his law firm clients and leaking it to other participants, who then profited from the trades and returned a portion of the earnings. The SEC also stated that the two recruited another corporate lawyer to continue obtaining and disseminating more merger insider information for trading.The SEC stated that this enforcement action reflects its determination to "combat large-scale insider trading networks and hold the entire leak chain accountable." Meanwhile, the Massachusetts Attorney General's Office has filed criminal charges against all individuals involved. Regulatory agencies from multiple countries, including the FBI, the UK's FCA, and Switzerland's FINMA, are also assisting in the investigation.

Chinese companies like Moonshot AI are weighing company restructuring after the reversal of the Meta Manus deal

According to Benchmark Studio, after the China Securities Regulatory Commission issued inquiries to multiple companies regarding overseas shareholding structures, Chinese tech startups such as Moonshot AI and DeepRoute.ai are evaluating the feasibility of relocating their company registration from overseas back to China. They are currently discussing related plans with lawyers and have not yet made a final decision. Shanghai AI model developer StepFun has taken the lead in initiating the process of dismantling its overseas shareholding structure to expedite the regulatory approval process for its Hong Kong IPO.The direct trigger for this tightening of regulations was Meta's acquisition of the AI agency Manus, founded by Chinese individuals, for $2 billion—relevant authorities have ordered the cancellation of this acquisition, leading to a systematic review by regulators of the "domestic operation, overseas registration" company model.Dismantling the red-chip structure is complex, typically taking six months to a year, involving multiple steps such as repurchasing offshore equity, establishing joint ventures, and investors re-entering shares. Additionally, the lock-up period for joint ventures listed in Hong Kong lasts up to 12 months, which is twice as long as that for ordinary red-chip stocks. Analysts point out that if the red-chip structure faces comprehensive restrictions, it will significantly weaken the ability of Chinese startups to obtain dollar financing from overseas.
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