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Wuhan police smashed a fraud den that was suspected of inducing "netizens" to recharge virtual currency on a fake platform According to Guangming.com, the police in Wuhan Dongxihu recently destroyed a fraud den hidden in the countryside, arrested 32 suspects, and 20 were detained by the police. After interrogation, the fraud gang pretended to fabricate a "white, rich and beautiful" dating script, boasted about the investment income of virtual currency, and then induced victims to invest in the fake platform they created. The scammers used the carefully fabricated "script" to show concern for the victims to get closer, and then boasted about the "investment" income. Once the victim was tempted, the suspects would send a fake investment website to induce the victim to buy virtual currency and invest in the fake platform. The income is controllable by the scammers, but the "cash withdrawal" is unsuccessful. At present, the case is being further processed.

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Trump Media & Technology Group (TMTG) is planning to raise billions of dollars via a securities offering. Although the firm has not clarified its reason for the fundraising, the company’s actions in the last few weeks raise speculation as to whether a part of the fund will be geared toward more bitcoin (BTC) acquisitions. According to the filing , TMTG intends to raise up to $12 billion by offering its common stock, preferred stock, debt securities, warrants, rights, or units to investors. The terms of the offering will be provided in prospectus supplements filed with time. For now, TMTG has clarified that it intends to sell 84.6 million shares of its common stock at a value of $0.0001 each. TMTG will sell 55.8 million shares to institutional investors in a private placement at $25.72 per share for an aggregate amount of approximately $1.44 billion. The company will also offer 28.8 million shares issuable upon conversion of its 0.00% convertible senior notes due 2028 for an aggregate amount of $1 billion. The company noted that it has the flexibility to sell the shares at varying prices through different channels, including underwriters, dealers, and agents. “We provide more information about how we and the Selling Securityholders may sell the securities in the section entitled ‘Plan of Distribution.’ We will receive proceeds from the issuance and sale of our common stock, preferred stock, debt securities, warrants, rights, or units. We will not receive any proceeds from the sale of Shares by the Selling Securityholders pursuant to this prospectus,” the firm stated in the prospectus. Earlier last week, TMTG reportedly disclosed that it was raising $3 billion to buy BTC. About 24 hours later, news emerged that the company had raised approximately $2.5 billion to implement its BTC acquisition plan. The firm raised the funds by selling $1.5 billion in stock and $1 billion in convertible notes priced at a 35% premium. TMTG holds the BTC on its balance sheet, while digital asset platforms Crypto.com and Anchorage Digital provide custody for the assets. TMTG’s latest BTC purchase and the intensifying wave of Bitcoin adoption in the corporate sector are fueling speculation that the $12 billion raised will be targeted at more BTC acquisitions. It remains to be seen whether this plays out as speculated.