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fil

FIL is the native cryptocurrency of the Filecoin network, belonging to the decentralized storage ecosystem. Filecoin achieves distributed data storage through blockchain technology, and the FIL token is used to pay for storage services and reward miners. It promotes the decentralization and security of data storage and aims to become the infrastructure for the global data storage market.
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Caixin: Poker expert Hu Zheweng has suffered three consecutive losses in the cryptocurrency market and has filed a lawsuit against Jump Trading and Chinese professor Zhang Yongfeng

According to Caixin, poker master and seasoned cryptocurrency investor Hu Zheweng made significant bets during the three waves of cryptocurrency frenzy involving ICOs, algorithmic stablecoins, and AI tokens, but faced consecutive failures. Hu Zheweng claimed to have invested in the blockchain project Stratis, achieving a return of "over 1000 times."According to disclosed information, Hu Zheweng invested approximately 80 million USD in algorithmic stablecoin TerraUSD (UST) and its sister token LUNA from May 2021 to May 2022, with the peak market value of his holdings exceeding 800 million USD, but the price of LUNA subsequently nearly dropped to zero.In addition, Hu Zheweng has filed a lawsuit in Chicago, USA against the globally renowned quantitative trading firm Jump Trading and its related companies and executives in the cryptocurrency business, seeking at least 500 million USD in damages. After experiencing Stox and Terra, Hu Zheweng has not left the cryptocurrency market; last January, he bet on a new project by a Chinese computer professor Zhang Yongfeng. Zhang Yongfeng entered the Computer Science Department of Tsinghua University in 2007 and is currently a tenured associate professor in the Computer Science Department at Rutgers University in the USA. He has been sued by Hu Zheweng on multiple charges including "securities fraud." It is reported that the tokens issued by the organization founded by Zhang Yongfeng, in which Hu Zheweng invested millions of dollars, have fallen over 99.6% from their peak in 2025.

first_img Former Sonic CEO Michael Kong: Departure was not voluntary, the other party refused to fulfill the agreement

Former Sonic CEO Michael Kong posted a response to Sonic Labs' recent statement of "immediate termination of cooperation." He stated that the company still sought his assistance on the same day and expressed hope for his well-being, but the announcement did not specify the reason, leading to the misleading impression that "he may have been dismissed due to misconduct." Kong indicated that this departure was not voluntary; after working at Fantom/Sonic for over eight years, he negotiated and signed a severance and release agreement with Sonic Labs and its affiliates.Kong mentioned that for the past two and a half months, Sonic Labs repeatedly promised to fulfill the agreement but is currently refusing to do so, and the existing contractual agreements have also not been honored. The release agreement stipulates that both parties shall not publicly disparage each other, yet matters that should have been handled internally were made public by Sonic Labs, causing damage, which is why he chose to respond publicly. He noted that he had almost single-handedly won the company a lawsuit in South Korea worth approximately $150 million, which was described as one of the largest cryptocurrency disputes in South Korea, and cited a written evaluation from David Richardson, the owner of Fantom and Sonic, stating that his work should be appreciated by the foundation.Kong stated that he reserves all rights to make any claims against Sonic Labs and its affiliates.

first_img U.S. Senators Discuss Requirement for AI Companies to Fulfill Duty of Care

According to a report by Reuters, U.S. Senate negotiators are discussing legislation that would require artificial intelligence companies to demonstrate that they are taking reasonable precautions to prevent their tools from causing harm. The proposal aims to grant the U.S. Secretary of Commerce the authority to require developers to provide proof of reasonable steps taken to prevent harm, referred to as "duty of care," and to authorize the dispatch of government auditors to test relevant products. Reuters was unable to immediately determine what constitutes "reasonable," and the related legislation is still under discussion.Even if Congress passes the measure, its prospects of becoming law still face significant resistance. U.S. President Donald Trump stated on Monday that existing authorities are sufficient to regulate and prosecute technology companies, suggesting that he would not sign a bill that sets new rules for artificial intelligence. Senate Majority Leader John Thune, Senate Commerce Committee Chairman Ted Cruz, and Democratic Senator Amy Klobuchar, who is involved in the negotiations, are discussing the proposal. Thune told reporters on Monday that Congress could set safeguards against more significant threats without compromising the U.S.'s leading position in the artificial intelligence race.Klobuchar stated in a statement that she is continuing to push for bipartisan legislation to oversee the greatest risks posed by artificial intelligence models, including requiring developers to work with government experts to validate and test models to ensure safety. Senior Democratic member of the Commerce Committee Maria Cantwell is also involved in the discussions. Reuters reported on Friday that negotiators are also discussing the possibility that if the government determines that certain artificial intelligence models are unsafe and wishes to prevent their release, it could be brought to federal court, where companies could challenge that decision. The portion of the measure involving federal courts would also prevent states from enforcing their own laws regarding specific risks associated with artificial intelligence models.

first_img North Korea uses IT employees from third countries to infiltrate American companies, paying interview assistants with cryptocurrency

According to NBC, North Korea is utilizing remote IT workers from third countries such as Iran and Lebanon to assist in infiltrating American companies and obtaining funds to finance its weapons programs. Alerts issued by the U.S. and several foreign agencies in July indicated that North Korean IT workers "seek to sign contracts with the intention of remitting salaries back to relevant North Korean agencies," while also posing internal threats to companies, involving data leaks, cryptocurrency theft, and sensitive information theft.As governments like the United States increase countermeasures, North Korea is increasingly leveraging third-country IT workers to secure job interviews, and after obtaining work contracts, the relevant positions are typically taken over by North Korean agents. Reports indicate that these foreign IT workers are scouted on LinkedIn, with some earning about $500 per month in cryptocurrency to work part-time as "interview assistants."Cointelegraph reported in May, citing data from cybersecurity company CrowdStrike, that state-affiliated North Korean hackers and threat actors caused cryptocurrency losses exceeding $2 billion in 2025, a 51% increase year-on-year. The Bank of Korea estimates that despite facing global sanctions, North Korea's GDP will still grow by 3.5% in 2025.
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