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The founder of Russia's largest mining company BitRiver has been transferred from house arrest to detention pending trial for fraud

According to Russian media bits.media, Igor Runets, the founder of Russia's largest mining company BitRiver, has been transferred from house arrest to detention pending trial by the Zamoskvoretsky Court in Moscow due to allegations of fraud amounting to 100 million rubles. He will be held in custody for at least two months. The charges are based on Part 4 of Article 159 of the Criminal Code of the Russian Federation—"particularly large-scale fraud committed by an organized group."The investigation claims the case involves the supply of mining equipment, causing nearly 100 million rubles in losses to the metallurgical and energy companies under the En+ Group. Investigators requested the detention of Runets on the grounds that he might influence witnesses, and the court approved this request. Representatives of BitRiver and Runets' lawyer have not yet commented on the court's ruling, and the progress of the case will depend on the equipment appraisal and witness testimonies from En+. In February of this year, Russian law enforcement suspected Runets of concealing assets to evade taxes, leading to his arrest and house arrest on charges of tax evasion. BitRiver is facing bankruptcy and ownership risks, with its owner Fox Group having debts of approximately 9.2 million dollars, and assets insufficient to repay the debts, prompting a bankruptcy application.

hot_img Visa and Artemis jointly released the Smart Payment Report: The x402 protocol processed $15 million in transactions in its first year, accelerating the arrival of the AI micro-payment era

Visa and the on-chain data analysis platform Artemis previously jointly released the report "Agentic Payments from the Ground Up," which quantifies the trends of AI agent payments based on real-time on-chain data. The report points out that intelligent commerce should be divided into macro transactions (AI agents completing bookings, subscriptions, etc., adapting to existing card systems) and micro payments (high-frequency small payments between machines, with individual transactions far below $1, which traditional payment structures struggle to support).The report focuses on two "machine-native payment" protocols: x402 (developed by Coinbase, Cloudflare, etc., launching in May 2025) with an adjusted transaction volume of approximately $15 million and 109.6 million transactions as of April 21, 2026, with 422,000 buyers and about 5,300 sellers, primarily concentrated on Base, Solana, and Polygon, settled in USDC; MPP (developed by Stripe and Tempo, with Visa's participation, launching in mid-March 2026) had a transaction volume of approximately $25,000 and 115,000 transactions within 33 days of launch, supporting both on-chain crypto payments and fiat settlements.The report believes that the leap in AI capabilities (with the release of Claude 4.5 and GPT Codex 5.2 in mid-2025) has created a demand for programmatic payments, combined with the decreasing costs of blockchain settlements, making micro payments in the range of 1 cent to 1 dollar economically viable for the first time. Currently, the boundaries between crypto-native protocols and card payment camps are gradually blurring, but agent payments still face trust challenges such as erroneous purchases, adversarial attacks, and liability attribution.

hot_img A trader in Hong Kong embezzled HKD 50 million in margin for leveraged stock trading and was arrested after reporting a loss of HKD 150 million

According to Tencent News "Frontline," a 26-year-old male employee of Hong Kong Central Wealth Management Services Limited misappropriated 50 million Hong Kong dollars as margin without authorization, using it to finance the purchase of a double long position in the Southern Eastern Ying Hynix ETF (07709.HK), resulting in a paper loss of up to 150 million Hong Kong dollars. The trader was arrested by the police on July 20 on suspicion of "theft," with the incident occurring from January 9 to July 20.Financial analysts in Hong Kong stated that the reason the 50 million principal turned into a 150 million loss was due to the combination of margin financing and the double leverage of the long ETF. This ETF surged to a historical high of 193.65 Hong Kong dollars at the end of June, driven by the storage chip concept, but then the semiconductor sector sharply corrected, falling to 52.58 Hong Kong dollars by July 20, a decline of over 72%. The police revealed that the relevant positions had not yet been forcibly liquidated, and the final loss would still fluctuate with the stock price. The incident was discovered during a recent audit of the company, which reported it to the police. Central Wealth Management is not a licensed company by the Securities and Futures Commission, and Central Wealth Securities stated that the involved personnel are not their employees and are unrelated to the incident, but after the event, some clients exhibited risk-averse withdrawals.

hot_img Zhipu ARR breaks 1 billion USD, achieving 15 times explosive growth in 6 months

According to "Intelligent Emergence," multiple independent sources reported that by July 2026, China's leading large model company, Zhipu, had achieved an annual recurring revenue (ARR) of $1 billion. Insiders revealed that between January and July 2026, Zhipu's ARR surged 15 times in just six months. The growth from $100 million ARR to $1 billion took Zhipu only 5 months, surpassing the 15 months it took the American AI lab Anthropic to reach a similar stage. As of the time of publication, Zhipu has not responded to the aforementioned financial data.The rapid rise in Zhipu's revenue is primarily attributed to its concentrated investment in coding and reasoning capabilities. Financial reports show that in the first quarter of this year, even though the API call price for GLM increased by approximately 83%, its overseas subscription prices approached those of Anthropic's Claude Code, yet its total call volume still grew by about 400% against the trend. In June of this year, Zhipu launched its latest open-source large model, GLM-5.2, which has matched or even surpassed mainstream cutting-edge models on several core metrics.Currently, AI coding and video generation have become the fastest commercialized and most revenue-generating tracks for large models globally. As the demand in the coding market becomes more certain, industry competition is intensifying. Domestically, MiniMax released the M3, which focuses on enhancing coding capabilities, in June, while the Dark Side of the Moon launched the K3 open-source model with 2.8 trillion parameters on July 16; internationally, with OpenAI merging ChatGPT and CodeX, it has also shown a momentum to catch up with Anthropic in the coding field, and the global battle for AI productivity tools continues to escalate.
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