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  • BetFury Sets Sail with $100,000 Fury Cruise: VIP Opportunities Await

    BetFury Sets Sail with $100,000 Fury Cruise: VIP Opportunities Await

    BetFury Sets Sail with $100,000 “Fury Cruise: All Aboard” Event

    Willemstad, Curaçao – September 14, 2026 – Crypto casino BetFury is launching a major platform-wide event this autumn, dubbed “Fury Cruise: All Aboard.” Running from September 14 to September 27, 2026, the two-week promotion will feature a substantial $100,000 prize pool, with one lucky participant set to win a coveted week of VIP Club status, irrespective of their current standing on the platform.

    Inside the Fury Cruise Event

    The “Fury Cruise” encompasses a variety of parallel promotions designed to engage players throughout its duration. These include the “Mission Voyage,” a “Check-In Bonus Roulette,” a “First-Class Raffle,” generous giveaways, and exclusive promotional codes.

    Check-In Bonus Roulette

    Each day of the event offers a new opportunity to spin the “Check-In Bonus Roulette.” This bonus randomizer can award players with Free Spins, Bonus Bets, Deposit Bonuses, and other prizes. The roulette encourages consistent engagement, with each daily check-in providing another chance to win.

    First-Class Raffle

    The “First-Class Raffle” offers a chance for a single ticket to elevate a player’s experience. This raffle holds the event’s grand prize: a full week of VIP Club status. Tickets are awarded for wagering on Slots, Live Casino games, BetFury’s Original games, and crypto Sports Betting, as well as for making deposits. In addition to a share of the $100,000 prize pool, one randomly selected participant will receive the exclusive VIP status, with the draw taking place on September 28.

    Achieving VIP status unlocks a range of benefits beyond standard rewards, including a VIP Welcome Bonus, a dedicated personal VIP Manager, enhanced Cashback and Rakeback percentages, priority withdrawals, access to the VIP Lounge, and other exclusive perks.

    “Typically, VIP status is something a player works towards over many months,” stated Mike, CEO of BetFury. “For the Fury Cruise, our aim was to make that exclusive access available to everyone through a single event, regardless of their current Rank. The idea is that the best cabin on the ship should be accessible to all our passengers.”

    Players interested in participating in “Fury Cruise: All Aboard” can find more information on the main event page.

    Mission Voyage

    The “Mission Voyage” component guides players through a series of straightforward tasks. These missions are categorized into three Rank tiers, ensuring a fair progression for all participants. Each user will receive five missions, with two days allocated to complete each set. Successfully finishing all five tasks will unlock an additional reward.

    About BetFury

    Founded in 2019, BetFury has established itself as a leading crypto casino, boasting over 3.5 million registered players and a lifetime wagering volume exceeding $11.5 billion. The platform offers a vast selection of over 13,000 games, including 24 proprietary Original games with return-to-player (RTP) rates up to 99.28%, and more than 80 sports for betting with competitive odds. Beyond its gaming offerings, BetFury provides a comprehensive suite of advanced crypto utilities, such as Crypto Staking with up to 60% APR, Futures trading, and Crypto Swap. The platform also features its proprietary BFG Staking, allowing users to earn daily passive income in BFG or USDT by holding native tokens. BetFury is committed to continuous development based on user feedback and upholds strong principles of responsible gambling.

  • AI Dips, Oil Surges as Crypto Eyes Clarity Act

    AI Dips, Oil Surges as Crypto Eyes Clarity Act

    Bitcoin Price Prediction: AI Stocks Tumble as Oil Surges, Crypto Awaits Clarity Act Vote

    Bitcoin is showing bullish signs, trading at $77,700 and maintaining its strength while equity markets experience significant declines. Underlying volume data suggests this resilience is not by chance.

    AI Stocks Hit as Industry Leaders Urge Caution

    AI stocks faced a sharp downturn in pre-market trading on Monday following calls from Anthropic CEO Dario Amodei for the industry to temper development. Sam Altman and Elon Musk echoed these sentiments over the weekend. South Korea’s Kospi index fell 3%, SK Hynix dropped 6%, and the Nasdaq 100-tracking QQQ slid 1.5%. Cloud-focused companies like Nebius and CoreWeave saw declines of 5-6%.

    Global Markets Under Pressure from Dual Shocks

    Global stock markets are experiencing a broad slide, impacted by a weekend essay from Anthropic’s CEO warning against an AI “race to the bottom,” which is affecting AI stocks worldwide. Simultaneously, oil prices have jumped as Saudi Arabia’s East-West pipeline remains shut. Nasdaq futures are down 1.6%, while the VIX has risen 12.7%.

    Oil Prices Spike, Adding Inflationary Concerns

    Brent crude surged over 3% to $107 a barrel, intensifying inflationary pressures as traders prepare for the Senate’s initial procedural vote on the CLARITY Act tomorrow. Cryptocurrencies are currently decoupling from the tech sector’s AI-driven sell-off. This divergence, coupled with a compressed regulatory timeline, creates a particularly dynamic 48-hour window for the crypto market this quarter.

    Bitcoin Consolidates Amidst Key Support and Resistance Levels

    Bitcoin is consolidating within the $76,000 to $78,000 range. Analysts have identified $76,432 as a crucial support level. Should the CLARITY Act vote prove disappointing, further support can be found at $75,674 and $71,781.

    On the upside, resistance is clustered at $78,146 and $78,260, with a broader ceiling between $80,000 and $82,793. A positive outcome for the CLARITY Act procedural vote tomorrow could trigger a breakout above $79,730, potentially pushing Bitcoin towards $81,000.

    The base case scenario anticipates continued range-bound trading between $76,000 and $78,000 as the market awaits the Federal Reserve meeting on September 15-16. A bearish outlook would involve a stalled vote, coupled with rising oil prices and persistent inflation expectations, leading to Bitcoin testing the $75,674 support level.

    Decoupling Narrative Strengthens, but Growth Challenges Emerge

    Bitcoin’s ability to hold $77,700 while AI stocks decline is a genuinely bullish signal, reinforcing the narrative of crypto’s decoupling from tech market volatility. However, a significant challenge remains: at a market capitalization exceeding $1.5 trillion, doubling Bitcoin’s value from its current level presents a considerably greater hurdle than it did in 2020.

    Traders seeking substantial returns are increasingly shifting their focus to infrastructure projects built on the Bitcoin network itself, rather than solely relying on Bitcoin’s price movements.

    Bitcoin Hyper Aims to Enhance Developer Experience and Network Functionality

    Bitcoin Hyper is working to improve the developer experience through clearer documentation, familiar tooling, predictable APIs, and enhanced feedback mechanisms for builders. The project’s objective is to simplify network comprehension, facilitate integration with existing tools, and reduce the friction for new development.

    Bitcoin Hyper ($HYPER) is positioning itself as the first Bitcoin Layer 2 solution with SVM integration, aiming to achieve execution speeds that surpass Solana while leveraging Bitcoin’s base security for settlement. The presale has already raised $33.1 million, with the current token price at $0.0136862. Staking rewards are set to be live at launch.

    The project’s Decentralized Canonical Bridge is designed to address the core issues that have historically limited Bitcoin’s liquidity for smart contract applications, including slow transactions, high fees, and a lack of programmability. Investors are encouraged to research Bitcoin Hyper before the presale window closes.

  • US Senate Procedural Vote on CLARITY Act: Navigating Market Hype and Regulatory Reality for XRP

    US Senate Procedural Vote on CLARITY Act: Navigating Market Hype and Regulatory Reality for XRP

    The US Senate is set to conduct a procedural vote on H.R. 3633, the CLARITY Act, on September 15 at 2:15 pm ET. This vote is a critical distinction: it determines whether the Senate will begin debating the bill, not whether it may pass into law. While market participants are closely observing this development for its potential impact on XRP’s price, analysis suggests the market may be overestimating the immediate significance of this procedural step.

    The CLARITY Act’s objective is to establish a defined legal framework for digital assets. However, the upcoming vote is a cloture motion, requiring 60 ‘yes’ votes to advance the bill for further debate. With Republicans holding 53 seats in the Senate, bipartisan support is essential. The distinction between a vote to proceed and a vote to pass is crucial, as the former does not guarantee the latter. This nuance is reportedly being lost in market discussions, potentially leading to mispriced expectations.

    XRP is currently trading at $1.39, up 2% on the day. Over the weekend, XRP saw a dip towards $1.33, after trading above $1.40 last week. Support for XRP is identified between $1.31 and $1.33, with resistance stacked between $1.38 and $1.42. Despite recent price movements and bullish sentiment surrounding potential regulatory clarity, the long-term outlook for the CLARITY Act remains uncertain. According to the FactSheet, a prediction market indicates that the odds of the CLARITY Act becoming law by 2026 are just below 20%, a low probability that may temper significant price rallies.

    Even if the CLARITY Act were to be passed, its impact on XRP’s price may not be as dramatic as some anticipate. Standard Chartered has set a $10 price target for XRP for 2026, contingent on the bill’s eventual passage. However, analysis suggests that at XRP’s current market capitalization, the potential for substantial asymmetric upside is limited. This gap is often targeted by presale tokens, such as Maxi Doge ($MAXI), which is currently priced at $0.0002838 and has raised $4.8 million.

    The upcoming Senate vote represents a procedural hurdle rather than a definitive legislative outcome. The market’s reaction to this vote highlights the sensitivity of digital asset prices to regulatory news, even when the news pertains to preliminary legislative steps. Investors are advised to consider the low probability of the CLARITY Act’s passage and the limited potential for extreme upside for established assets like XRP, focusing instead on a balanced assessment of regulatory developments and market realities.

    Broader Context

    Source materials place the market analysis in this context: The article discusses the potential impact of the CLARITY Act on XRP’s price.

  • MEXC Reports August Trading Activity Increase Across New Tokens and Tokenized Traditional Assets

    MEXC Reports August Trading Activity Increase Across New Tokens and Tokenized Traditional Assets

    MEXC’s August 2026 trading data indicates a notable increase in user engagement with both new cryptocurrency tokens and tokenized traditional finance (TradFi) assets. The exchange reported a 21% month-over-month increase in users trading new tokens and a 31% surge in trading volume for tokenized stocks. Overall TradFi Spot trading volume also saw a 13% increase, while precious metals futures trading volume climbed by 32%.

    The new token market on MEXC experienced significant activity in August. The top-performing new token achieved a peak gain of 14,143%. Among the top 10 tokens by peak gain, the average peak gain was 3,358%, a 145% increase from the previous month. Memecoins accounted for 55% of the total trading volume among these top 10 new tokens, while AI, RWA, DeFi, and cross-chain projects comprised the remaining 45% of this volume.

    In the tokenized traditional finance sector, trading volume for tokenized stocks rose by 31% month-over-month. The precious metals futures segment also saw a 32% increase in trading volume. This growth was primarily driven by Gold (XAU) and Silver (SILVER), with XAU volume increasing by 57% and SILVER by 39%. Conversely, XAUT volume declined by 10% during the same period.

    MEXC launched three flagship campaigns in August focused on TradFi, xStocks, and MOVE, each with a total prize pool of 1 million USDT. The ‘TradFi Million-Dollar Gala’ campaign attracted over 174,000 registrations and generated an average daily trading volume of 4.2 billion USDT, suggesting that platform-driven initiatives contributed to overall trading activity.

    Founded in 2018, MEXC operates as a global multi-asset trading platform, providing access to crypto, stocks, tokenized assets, and derivatives across more than 170 markets. The exchange is known for its 0-fee digital asset trading.

    Why This Matters

    The materials describe a narrow update: MEXC’s August trading data shows a 21% month-over-month increase in users trading new tokens and a 31% increase in tokenized stock trading volume. The growth in tokenized stock trading volume was the main driver of TradFi Spot growth.

    Broader Context

    Source materials place the factual news in this context: MEXC is a pioneer in 0-fee digital asset trading.

  • Bitcoin Consolidates Near $78,000 Amidst Market Volatility; Filecoin Surges 25%

    Bitcoin Consolidates Near $78,000 Amidst Market Volatility; Filecoin Surges 25%

    The cryptocurrency market is navigating a period of mixed performance, with Bitcoin consolidating around the $77,000-$78,000 range while Filecoin (FIL) has experienced a significant 25% surge. This activity occurs as the market anticipates a pivotal week influenced by upcoming economic data and regulatory decisions.

    Bitcoin’s Price Action Over the Past Week

    Over the past week, Bitcoin has demonstrated notable price fluctuations. According to the article, Bitcoin dipped below $77,000 on Sunday and later fell to $77,600 by Wednesday. Thursday morning saw attempts to reach $79,600, which were reportedly halted. A significant event occurred on Friday following the release of CPI data, which was associated with Bitcoin’s price to move from over $77,000 down to $76,000, before rapidly increasing to $79,800 within an hour. However, this upward momentum was short-lived, as Bitcoin was rejected at the $80,000 mark and subsequently returned to around $77,000. The weekend saw Bitcoin’s price dip further to $76,400. As of press time, Bitcoin is trading closer to $78,000.

    Altcoin Performance Highlights

    Filecoin (FIL) has been a standout performer, surging by 25% to reach the $1.00 level. Another altcoin, BTW, has also seen substantial gains, skyrocketing by over 32% to $0.77. These two assets are noted as the top gainers among the 100 largest altcoins. Other cryptocurrencies have also shown movement: Ethereum has rebounded to over $2,500, and BNB remains above $720. Ripple’s XRP has increased by more than 3%, while ZEC is up 5% to $1,140. Conversely, XMR has experienced a decrease of almost 4%, settling at $515.

    Market Cap and Dominance

    The cumulative market capitalization of all crypto assets has seen a daily increase of 1%, reaching $2.650 trillion, according to CMC. Bitcoin’s market capitalization is reported at $1.560 trillion, with its dominance over altcoins rising to 59%.

    Upcoming Market Drivers and Uncertainties

    The upcoming week is anticipated to be significant for Bitcoin, with key events including a decision from the Federal Reserve (Fed) and voting on the CLARITY Act. These events are expected to influence market volatility. Uncertainty remains regarding the precise timing and impact of the Fed’s decision and the CLARITY Act vote on the market. Additionally, it is uncertain whether Ripple’s XRP will successfully overcome the $1.40 resistance level. The source states that more volatility was expected on Friday with the release of the CPI data, and it did not disappoint. The weekend was less eventful, as usual.

    Why This Matters

    The cryptocurrency market’s current state, marked by Bitcoin’s price fluctuations around $77,000-$78,000 and Filecoin’s 25% surge, is occurring against a backdrop of significant upcoming economic and regulatory events. The Federal Reserve’s decision and the CLARITY Act vote are key factors that could influence future market stability and volatility, underscoring the importance of monitoring these developments.

    Broader Context

    This factual news is situated within the broader cryptocurrency market context, as reported by CryptoPotato. The article highlights Bitcoin’s price action and Filecoin’s notable gains, providing insights into current market dynamics ahead of crucial economic and regulatory announcements.

  • Bybit Lists Babylon (BABY1) v4.5.0 Network Upgrade

    Bybit Lists Babylon (BABY1) v4.5.0 Network Upgrade

    Bybit to Support Babylon Network Upgrade

    Cryptocurrency exchange Bybit has announced its support for the upcoming Babylon (BABY1) v4.5.0 network upgrade. The upgrade is scheduled to occur on September 14, 2026, at approximately 12:00 PM UTC, or at block height 4,511,100.

    In preparation for the upgrade, Bybit will temporarily suspend Babylon (BABY1) deposits and withdrawals beginning at 11:30 AM UTC on September 14, 2026.

    Trading activities on the platform will remain unaffected during this period.

    Bybit has stated that there will be no separate announcements regarding the resumption of deposit and withdrawal services. Users wishing to be notified when these services are back online are advised to visit the Deposit or Withdrawal page and select the “Set Alert” option.

    Further details about the network upgrade can be found in the official release notes.

  • Binance Pay: Crypto Onramp and Onchain Payment Infrastructure

    Binance Pay: Crypto Onramp and Onchain Payment Infrastructure

    Binance Pay Unveils On-Chain Solutions to Enhance Business Payment Capabilities

    Binance Pay is broadening its business-focused payment offerings with a new suite of on-chain solutions tailored for wallets, trading platforms, decentralized applications (dApps), payment providers, merchants, and digital platforms.

    The new services are designed to enable wallets, dApps, Web3 platforms, and aggregators to convert users into funded customers without the need to develop their own standalone on-ramp experiences. Businesses can integrate Binance as an on-chain funding and payment route for wallet top-ups, account funding, deposits, and merchant payments.

    This expansion is particularly significant for payment platforms, fintech companies, trading platforms, and merchants aiming to incorporate Binance-powered on-chain payments into their customer journeys. Additionally, the solutions are engineered for API providers, developers, and AI platforms looking to build machine-to-machine and autonomous payment use cases.

    Key Features and Use Cases

    The new offerings include “On-ramp as a Service,” “Pay On-chain,” and “Agentic Payments (B402).”

    Primary Use Case:
    These solutions allow users to fund their wallets, top up accounts, make deposits, or pay merchants directly from their Binance account balances.

    Core Value:
    The primary value proposition is to convert non-crypto users into funded customers. Payments can be completed using any available Binance account balance. Furthermore, APIs and AI tools can be monetized autonomously and instantaneously on the BNB Chain.

    Settlement:
    Settlement options include direct transfers to receiving wallet addresses for “On-ramp as a Service” and “Pay On-chain,” and direct transfers to merchant wallets for “Agentic Payments.”

    Supported Assets:
    The platform supports over 400 cryptocurrencies and more than 100 fiat currencies. For “Agentic Payments,” specific stablecoins like USDT, USDC, U, and USD1 on the BSC network are supported.

    Businesses operating wallets, trading platforms, payment services, merchant platforms, dApps, API services, or AI platforms that are exploring cryptocurrency or on-chain payments are invited to explore these new capabilities. Interested parties can visit the Binance Pay Onchain page to submit an integration request, detailing their specific use case, target markets, and expected scale.

  • Yen, Yields: Bitcoin’s Top Near-Term Risks, Say Analysts

    Yen, Yields: Bitcoin’s Top Near-Term Risks, Say Analysts

    Bitcoin (BTC) is entering a pivotal week, with major central bank decisions on the horizon that could significantly impact the cryptocurrency market. The U.S. Federal Reserve is set to announce its September interest rate decision on Wednesday, followed by the Bank of Japan two days later.

    Markets are largely anticipating an 85% probability of a 25-basis-point rate hike by the Fed. However, according to XWIN Japan, the crucial factor will not be whether rates change, but the hawkish tone adopted by both central banks.

    XWIN Japan has identified a scenario that poses a significant concern: a simultaneous rise in U.S. yields and the Japanese yen. Elevated U.S. interest rates tend to tighten global liquidity. A stronger yen, in turn, could accelerate the unwinding of yen-funded carry trades, prompting investors to reduce risk exposure across both equity and cryptocurrency markets.

    With Brent crude trading above $100 per barrel and the U.S. 10-year Treasury yield nearing 5%, inflation concerns remain a prominent backdrop to these upcoming central bank meetings. Following these decisions, XWIN advises traders to closely monitor U.S. yields, the USD/JPY exchange rate, spot Bitcoin ETF flows, and underlying demand, as these indicators will signal the true market test.

    Recent economic data has already contributed to market volatility. August payrolls significantly exceeded economists’ expectations, coming in at 162,000, and producer prices saw an acceleration to 5.4% annually. Last week’s Consumer Price Index (CPI) report confirmed headline inflation at 3.4%. In response to this data and remarks from Fed Chair Kevin Warsh at Jackson Hole, Bitcoin experienced a notable decline, falling from approximately $82,400 to below $78,000.

    Political and Legislative Developments

    Tuesday also presents a potential market catalyst with a Senate cloture vote on the CLARITY Act, which requires 60 votes to proceed.

    Adding another layer of complexity, President Donald Trump has threatened to halt trade with countries running a U.S. trade deficit if the Federal Reserve does not cut rates. The current market sentiment, leaning towards a rate hike, runs counter to the President’s stated preference.

    Hupzy of Spot On Chain described the situation as “a binary macro catalyst with asymmetric cross-asset risk,” noting that a rate hike would pressure non-yielding assets, while political maneuvering could cast doubt on the dollar’s credibility.

    Bitcoin’s Current Standing and ETF Flows

    At the last check, Bitcoin was trading a few hundred dollars shy of $78,000. While it saw a slight increase over the past 24 hours, it remained down approximately 2.5% for the week. Despite these short-term fluctuations, Bitcoin has still gained about 23% over the last 30 days. It is currently trading nearly 39% below its all-time high of over $126,000, which was reached in October of last year.

    Meanwhile, exchange-traded fund (ETF) flows have diverged. Spot Bitcoin ETFs experienced outflows totaling $462.73 million across four trading days last week, marking their first negative week since mid-August. In contrast, Ethereum (ETH) ETFs continued to see inflows, with a notable $216.41 million inflow on Friday, as the world’s second-largest cryptocurrency reached an eight-month high.

  • CLARITY Act Revised with Ethics, Enforcement Changes Ahead of Senate Vote

    CLARITY Act Revised with Ethics, Enforcement Changes Ahead of Senate Vote

    The CLARITY Act, a proposed cryptocurrency market structure bill, has undergone significant last-minute revisions as Senate Republicans seek to secure Democratic support for an upcoming procedural vote. The latest version, now 635 pages, includes an ethics framework, revised enforcement authority, and adjustments to the Blockchain Regulatory Certainty Act (BRCA).

    A key addition is an ethics framework, which has President Donald Trump’s voluntary agreement. This framework aims to restrict public officials, judges, and their spouses from issuing or sponsoring digital assets, requiring them to divest holdings or place them in a blind trust. This section incorporates elements of the Tillis-Gallego proposal and addresses Democratic concerns about the Department of Justice (DOJ) having sole enforcement authority over ethics provisions, particularly in light of potential conflicts involving President Trump and his family’s financial interests in the crypto sector.

    To satisfy Democratic objections, enforcement authority has been expanded to include state attorneys general alongside the DOJ. Senate Banking Digital Assets Subcommittee Chair Cynthia Lummis stated the bill is ready after a year of bipartisan negotiations.

    Revisions to the Blockchain Regulatory Certainty Act (BRCA) narrow its scope to primarily cover the Bank Secrecy Act and civil enforcement. Language extending protections to criminal proceedings, including cases under Section 1960, has been removed. However, amendments would still extend BRCA protections to miners and validators.

    The bill’s stablecoin yield section now features a “circuit breaker” mechanism, first proposed by Senator Tillis in July. This mechanism would empower federal regulators to intervene if stablecoins trigger significant withdrawals from community banks. Stricter limits on vertical integration have also been introduced, addressing potential conflicts of interest involving digital commodity exchanges, brokers, and dealers, including rules on affiliate trading.

    The updated text suggests that state consumer protection laws remain in effect and that developer protections will not override existing regulations for derivatives markets or prediction markets.

    Coinbase CEO Brian Armstrong voiced support for the CLARITY Act on September 10, indicating that the company’s primary concerns had been addressed. Armstrong claimed the bill has garnered support from law enforcement groups, banks, and other crypto companies.

    The CLARITY Act is scheduled for a procedural vote in the US Senate on Tuesday. Uncertainties remain regarding the extent of Democratic support and the ultimate impact of the revised provisions on the cryptocurrency market structure.

    Why This Matters

    The materials describe a narrow update: The CLARITY Act has been amended with a 635-page version that includes an ethics framework, revised enforcement authority for the DOJ and state attorneys general, changes to the Blockchain Regulatory Certainty Act (BRCA), a stablecoin yield ‘circuit breaker’ mechanism, and stricter limits on vertical integration. Whether Democrats will ultimately provide sufficient support for the CLARITY Act’s procedural vote.

    Broader Context

    Source materials place the factual news in this context: The CLARITY Act is a cryptocurrency market structure bill.

  • DOJ Busts Scam Marketplace, Seizes $52M in Crypto

    DOJ Busts Scam Marketplace, Seizes $52M in Crypto

    Justice Department Disrupts Chinese Scam Network, Seizes Millions in Cryptocurrency

    The Justice Department’s Scam Center Strike Force, in collaboration with the Treasury Department, has dismantled a Chinese-language scam marketplace known as Xinbi Guarantee, seizing approximately $52 million in cryptocurrency in a single day, U.S. Attorney Jeanine Pirro announced this week. This operation brings the total amount restrained by the Strike Force since its inception to roughly $938 million.

    In a parallel effort, another Strike Force team assisted authorities in Madagascar in taking down 13 Chinese-operated scam compounds. This action significantly expands the reach of a crackdown initiated last November, which had previously been concentrated in Southeast Asia.

    Xinbi operated primarily on the Telegram platform, using Chinese to facilitate its illicit activities. It functioned as a marketplace where vendors offered services to scam center operators, including the creation of fraudulent investment websites, the laundering of funds obtained through wire fraud, and the recruitment of trafficking victims to staff scam compounds.

    Prosecutors explained that Xinbi held payments in escrow until a vendor completed their service. This mechanism allowed investigators to trace specific victim funds to vendors who had posted their cryptocurrency wallet addresses on the Telegram channel. A federal court in Washington authorized the seizure of these Telegram channels on September 7, with prosecutors unsealing the warrant on Wednesday.

    Investigators seized two cryptocurrency wallets used by Xinbi to collect vendor payments, valued at approximately $12 million. They also sought the restraint of 47 additional wallets linked to the network, bringing the total value confiscated from the platform and its vendors to over $52 million.

    On the same day, the Treasury’s Office of Foreign Asset Control (OFAC) designated Xinbi as a transnational criminal organization, along with two other entities accused of supporting its operations. This designation freezes any assets they may hold within the United States.

    U.S. Attorney Pirro highlighted the broad impact of these scams, stating, “Every American with a retirement account is in the blast radius.” She added, “My Strike Force will continue to dismantle Chinese organized crime, those who facilitate it, and protect Main Street America.”

    In conjunction with the Xinbi operation, U.S. Attorney Michael Heyman of Alaska noted that the Strike Force’s two-week deployment in Madagascar, which involved processing over 3,200 devices and interviewing approximately 400 arrested individuals, illustrates the evolving nature of this fight. “Transnational criminal organizations don’t care about borders, and the Department of Justice won’t either,” he remarked.

    Earlier this year, the British government sanctioned Xinbi. Chainalysis estimated that the platform had processed nearly $20 billion in cryptocurrency between 2021 and 2025, offering a range of illicit goods and services, from stolen personal data to satellite equipment used to target fraud victims. However, this previous action had minimal impact, with the criminal group simply establishing new Telegram channels to continue its operations. The Scam Center Strike Force itself was established in November 2025 by Pirro to target Chinese organized crime involved in running scam centers.

    Federal data released on Wednesday indicated that reported losses from cryptocurrency investment fraud reached $8.65 billion in 2025, an 89% increase from $4.57 billion in 2023. The FBI cautions that these figures are likely an underrepresentation, as many fraud victims do not report their losses.