The U.S. Securities and Exchange Commission (SEC) has charged three cryptocurrency exchanges and four investment clubs in connection with an alleged multi-level marketing fraud. The exchanges are Moro...

The U.S. Securities and Exchange Commission (SEC) has charged three cryptocurrency exchanges and four investment clubs in connection with an alleged multi-level marketing fraud. The exchanges are Morocoin Tech Corp., Berge Blockchain Technology Co. Ltd, and Cirkor Inc., while the investment clubs include AI Wealth Inc, Lane Wealth Inc., AI Investment Education Foundation Ltd, and Zenith Asset Tech Foundation. The SEC alleges the groups posed as financial experts, promising profits from AI-based investments to lure victims into trading on fraudulent cryptocurrency exchanges. The investigation found that the scheme defrauded investors of a total of $14 million.

SEC charges 3 exchanges, 4 clubs in $14M pyramid scheme

Over the past six months, I've gone from being an observer of Web3 to entering the payment industry. Now, I've chosen to stop and cease working on Web3 payments.

This isn't a retreat after a failure, but rather a judgment and adjustment made after truly getting involved. In these past six months, I've traveled to Yiwu, Shuibei, Putian, and even Mexico, seeing how payments are actually implemented in the most prominent places mentioned in reports. I've also been involved, building a Web3 payment MVP, taking over accounts, developing Web3 payment tools, and trying to run my imagined path from the first step to the last.

But the further I went…

An entrepreneur's account: From beginning to end, why I stopped developing Web3 payments.

Pi Coin's price has risen slightly by over 1% in the last 24 hours, but it is still trading more than 20% lower than three months ago. The downtrend has not been reversed, but there is a sign of a shift.

A bearish scenario...

Retail investors are buying in as Pi Coin's price drops – but only large capital inflows can stop the plunge.

Introduction Market Overview In 2025, stablecoins and DAT expanded in both scale and application scenarios, beginning to directly connect with traditional finance at the boundary level. The total market capitalization of stablecoins once exceeded $230 billion, with an annual on-chain settlement scale of approximately $1.5 trillion. Supported by legislation such as the GENIUS Act, they gradually solidified as the underlying settlement layer for cross-border payments and on-chain finance. The DAT model, through compliant equity or fund vehicles, provided traditional institutional investors with a standardized path to access crypto asset exposure, with its holdings of BTC and ETH assets having a high market value...