Point of View: Chinese Victims of the Qian Zhimin Case Hope for a Soaring BTC Price to Receive a "Satisfactory" High Compensation, which is Not Realistic
On Jan. 25, Caixin reported that in the case of Qian Zhimin’s 60,000 BTC money laundering, British prosecutors still insist the proposal they submitted to the court on Oct. 15, 2025 — to set aside a portion of assets during civil asset recovery for overall compensation to a large number of Chinese victims — is the most effective practical solution.
This means once the assets (funds) are set aside, Chinese and British law enforcement can later transfer them to China to implement a specific victim compensation plan, which will disburse payouts after verifying victims’ identities and losses. Notably, Chinese victims hoping for a relatively “satisfactory” high payout from Bitcoin’s multi-year price surge under this approach will be disappointed: the proposal’s implied compensation boundary mostly covers actual losses already registered and confirmed by Chinese police.
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A Whale Repaying a Loan by Deleveraging Borrowed USDT with Staked ETH, Selling off 11,190 ETH
January 25th: Per EmberCN monitoring, an ETH whale who had borrowed USDT by staking ETH on Spark reduced their position to protect collateral amid a drop in ETH prices.
The whale sold 11,190 ETH on OKX for $32.83 million, then withdrew 26.55 million USDT from the exchange to repay part of their loan.
Post-reduction, the liquidation price for their ETH-backed borrowing position fell to $2,268 (vs. the current ETH price of $667). They still hold 37,400 ETH staked on Spark (valued at $110 million) securing a $62.57 million loan.
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CFTC Chairman: To secure the future of cryptocurrency and on-chain finance in the United States, regulatory reform is underway
On January 25, the White House’s official X account tweeted: “Thanks to President Trump, the U.S. has become the world’s crypto capital.”
Mike Selig, the new chairman of the U.S. Commodity Futures Trading Commission (CFTC), commented: “There’s no better place for startups than the world’s crypto capital. Thanks to President Trump’s leadership, the CFTC is updating its regulatory framework to ensure cryptocurrency and decentralized finance thrive in the United States.”
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memes surges over 85% in the past 6 hours, surpassing a market capitalization of $18.5 million
January 25th — Per GMGN market data (link: https://gmgn.ai/bsc/token/i_m4TE56o8_0xf74548802f4c700315f019fde17178b392ee4444), the BSC-based meme coin "memes" has surged over 85% in the past 6 hours, with its 24-hour gain climbing to 102.3%. It’s currently valued at $18.5 million, and its 24-hour trading volume has hit $39 million.
Sources report "memes" was spurred by a tweet earlier today from the official White House account that read: "The winning will continue. The deportations will continue. The memes will continue."
BlockBeats Note: Meme coins are extremely volatile, heavily reliant on market sentiment and hype, with no intrinsic value or practical use case. Investors should be aware of the associated risks.
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Data: Bitcoin CEX Internal Trading Volume Drops to Lowest Level Since 2022, Major Directional Volatility Ahead
**CryptoOnchain Data: Bitcoin Exchange Internal Transaction Volume Hits 2022 Low**
As of January 25, CryptoOnchain data shows the **total internal transaction volume across Bitcoin exchanges** has fallen to its lowest level since 2022—roughly 14,000 BTC. The ongoing drop signals a sharp reduction in Bitcoin’s internal exchange activity, pointing to diminished market-making capacity and a liquidity crunch.
On Binance specifically, internal transaction flows are hovering near their historical low of ~2,700 BTC. Lower internal flows have pushed holding ratios higher, cut arbitrage opportunities, and thinned order books—making markets more sensitive to price shocks. Historically, sharp directional volatility has followed when market activity picks back up.
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Qian Zhimin Case Holds First New Year Hearing, Planning Further Arrangements for Bankruptcy Liquidation Procedure in February
**January 25 – Caixin reports that the civil recovery proceedings for the case involving 60,000 Bitcoin laundered by Qian Zhimin in the UK held its first court hearing of the new year.**
While criminal proceedings in the UK have concluded, UK prosecutors’ civil recovery efforts, the rights of Chinese victims, and bankruptcy proceedings are currently running in parallel and intertwined.
This hearing was a standard procedural session and did not rule on asset ownership, compensation plans, or any substantive legal matters. The core issue discussed was who will represent the large group of Chinese victims. Presiding Judge Turner has voiced concerns about the current landscape: with more law firms representing different subsets of Chinese victims, the UK High Court faces a real risk of "agency proliferation."
Upcoming hearings are set for February 16–17, where further arrangements or guidance may be issued regarding how bankruptcy proceedings specifically impact the civil recovery
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