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On October 14, the U.S. Department of Justice announced criminal charges against Chen Zhi, founder of Cambodia's Prince Group, and successfully seized 127,271 BTC under his control, with a market value of approximately $15 billion. This event marks not only the largest judicial seizure of virtual assets in history, but also a public demonstration of state power directly exercising control over on-chain assets.
What drives the market is not only cold economic data, but also greed, fear, and the unpredictable nature of human behavior.
Overview of key market events on October 15th.
The U.S. Department of Justice has seized 127,271 BTC controlled by Chen Zhi, the founder of Cambodia's Prince Group, with a market value of approximately $15 billion, making it the largest judicial seizure of Bitcoin in the world. The case involves fraud, money laundering, and hacking, demonstrating the state's judicial control over on-chain assets. Summary generated by Mars AI. This summary is produced by the Mars AI model, and its accuracy and completeness are still being iteratively improved.
In Brief YZi Labs invested $50 million in stablecoin network BPN for global payment expansion. BPN aims to reduce finance transfer times, lowering costs with innovative technology. BPN targets providing regional stablecoin support in emerging markets by year's end.
- 02:26Ripple announces $1 billion acquisition of financial management system company GTreasuryChainCatcher reported that Ripple announced the acquisition of financial management system company GTreasury for $1 billion. This transaction marks a significant expansion for Ripple, opening up the multi-trillion dollar corporate finance market and reaching numerous enterprise clients. GTreasury has over forty years of experience providing financial operations support to globally renowned brands. Ripple CEO Brad Garlinghouse stated: "For a long time, capital has been trapped in slow, outdated payment systems and infrastructure, resulting in unnecessary delays, high costs, and barriers to entering new markets—problems that blockchain technology is ideally suited to solve. The combination of Ripple and GTreasury's capabilities will bring the best of both worlds, finally enabling finance and treasury teams to put trapped capital to work, process payments in real time, and unlock new growth opportunities."
- 02:26Crypto trading company legend.trade completes $1.5 million Pre-Seed funding roundForesight News reported that legend.trade, a crypto trading company incubated by the decentralized exchange GTE, has announced the completion of a $1.5 million Pre-Seed funding round. Investors include institutions such as Big Brain Holdings, Bodhi Ventures, Figment Capital, GTE, Kosmos Ventures, MitonC, as well as several angel investors.
- 02:25Caixin: Hong Kong crypto treasury company QMMM stock has been suspended to this day, and its office is desertedAccording to Jinse Finance, citing Caixin, US Nasdaq-listed company QMMM Holdings (NASDAQ: QMMM) announced on September 9, 2025, its plan to allocate $100 million to establish a cryptocurrency reserve, resulting in its stock price surging 9.6 times within three weeks. At the end of September, the US Securities and Exchange Commission (SEC) suspected the company of manipulating its stock price via social media platforms and ordered its suspension from trading starting September 29. The company has remained suspended since then. On October 16, Caixin visited its Hong Kong headquarters and found the office deserted. When inquiring with an employee of a neighboring company, the person stated that QMMM had moved out in September and was unaware of its new location. According to reports, QMMM was listed on Nasdaq in July 2024, registered in the Cayman Islands as a holding company. QMMM has two actual operating subsidiaries: Manymany Creations and Quantum Matrix, both primarily engaged in media and animation production. Both are registered in Harbour View Building near Tin Hau MTR Station in Hong Kong, with their registered business type listed as "advertising and market research."