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Gate Alpha will launch the 42nd Hotcoin Trading Competition, with a total airdrop value of $60,000 for trading designated hotcoins

According to official news, Gate Alpha will officially launch the 42nd Hot Coin Trading Competition on June 7 at 10:00 (UTC+8). Users can click "Participate Now" to complete registration and trade designated hot coins to share a total airdrop reward valued at $60,000.This event features a three-tier reward mechanism: Users who registered without an invitation code will receive 1 chance to participate in a regular blind box lottery for every 200 USDT traded, with a total prize pool of approximately $20,000, a minimum prize of 0.19 GT per draw, and a maximum of 7.81 GT; Users who registered with an invitation code will receive 1 chance to participate in a premium blind box lottery for every 500 USDT traded, with a total prize pool of approximately $30,000, a minimum prize of 0.39 GT per draw, and a maximum of 15.63 GT; Additionally, there is a special prize pool for newcomers of approximately $10,000. New users of Gate Alpha with zero trading can recharge "Binance Life" to their Alpha account and receive an equivalent airdrop of 0.5% of the transferred market value, available on a first-come, first-served basis.Gate Alpha now supports popular public chains such as SOL, ETH, Gate Layer, BSC, Base, SUI, ARB, World Chain, AVAX, Polygon, LINEA, ZK, OP, and Berachain, and can achieve seamless trading of all-chain tokens through the contract address search function, enabling cross-chain trading and allowing users to access all on-chain tokens with one click.

The second trial of the 660,000 yuan virtual currency theft case in Wuhan, China, has been revised: the main culprit was sentenced to ten years and six months in prison, and the amount stolen was determined based on the actual payment cost incurred by the victim

According to the "Procuratorial Daily," Lin, Zeng, and Dai conspired to use virtual currency trading as a pretext. During the trading process, they secretly filmed the victim's digital wallet private key and, after the virtual currency was credited, secretly logged into the victim's wallet to reverse the transaction, transferring the related virtual currency back to their controlled accounts. The three committed the crime three times, causing the victim a total economic loss of 660,000 yuan.The first-instance court held that in the absence of a clear judicial interpretation regarding the valuation method of virtual currency and sentencing standards, it was inappropriate to directly determine the amount involved as particularly huge based on the victim's purchase amount of 660,000 yuan. Therefore, they sentenced the three based on "other serious circumstances," imposing prison terms ranging from eight years to five years and six months, along with fines. The Hanyang District Procuratorate of Wuhan City in Hubei Province subsequently filed an appeal, which was supported by the Wuhan City Procuratorate.The prosecution argued that the first-instance court applied the law incorrectly and imposed an excessively light sentence. Prosecutor Dai Wentao of the Wuhan City Procuratorate stated that in the case where the victim had a clear loss amount to refer to, it was contradictory and legally erroneous to claim that the value of virtual currency could not be determined. In judicial practice, using the resale price and transaction price as the basis for determining the amount of theft has become mainstream, and determining the value of virtual currency based on the actual cost paid by the victim has factual, legal, and practical basis.The Intermediate Court of Wuhan accepted the prosecution's opinion in the second instance, revoked the corresponding content of the original judgment, and changed the determination of the theft amount to particularly huge. It sentenced the principal offender Lin to ten years and six months in prison for theft, and sentenced the accomplices Zeng and Dai to eight years in prison each, along with fines.

Gate and Alpaca have reached a strategic cooperation to accelerate the integration of digital assets and traditional finance

Gate announced a strategic partnership with Alpaca, a global leader in brokerage infrastructure services, to soon launch stock and ETF trading services for Gate users, bridging the investment channel between digital assets and traditional financial markets. Leveraging Gate's global digital asset ecosystem and Alpaca's brokerage infrastructure and market access capabilities, both parties will work together to create a more convenient and efficient multi-asset investment experience. Through this collaboration, Gate will introduce stock trading services, providing users with trading opportunities for over 10,000 stocks and ETFs covering major U.S. securities markets, including assets listed on the New York Stock Exchange and NASDAQ. At the same time, the platform will support fractional share trading starting from as low as $1, offering users a more diversified global asset allocation choice.Gate founder and CEO Dr. Han stated that the financial system is evolving towards greater integration and connectivity. As the connection between digital assets and traditional financial markets continues to strengthen, the demand for efficient access to diverse investment opportunities is growing. By collaborating with Alpaca, Gate will provide users seamless access to real stock market investments while maintaining the convenience and efficiency of the digital asset platform. We believe that multi-asset investment access will become an important component of the next generation of global financial services. In the future, Gate will continue to explore new models connecting digital assets and traditional finance with Alpaca, enhancing global market access capabilities and jointly promoting the development of a more open, efficient, and interconnected multi-asset investment ecosystem.
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