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Cambodia Prince Group Affiliate Hu Xiaowei Sanctioned by UK

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March 27 (Caixin) — Over two months after Chen Zhi, founder of Cambodia’s Prince Group, was detained, the UK has imposed additional sanctions on a Southeast Asian fraud network—including Hu Xiaowei, a close associate of Chen. The UK government labeled Hu Chen’s “longtime partner” in the Prince Group, noting ties to private servers of the game *Legend*. The pair later co-founded companies both in China and overseas. The sanctions notice, published on the UK government’s website March 26, targets multiple individuals and entities linked to the Prince Group. Thirty-eight-year-old Chen was born in a fishing village in Fujian. He previously ran an internet café and worked as a network administrator, launching his career as a hacker by seizing control of *Legend* private servers. More than a decade ago, he moved to Southeast Asia and became a Cambodian citizen. Within years, he controlled a global online fraud network, raking in millions daily from his “Duke” role and amassing a net worth of tens of billions of dollars. U.S. authorities alone confiscated bitcoins worth $15 billion from him. At his peak, Chen had a presence in Singapore, the UK, Taiwan, China, and other locations. In early January 2026, Chen was stripped of his Cambodian citizenship and extradited to China on suspicion of multiple crimes: fraud, illegal business operations, and concealing criminal proceeds.
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Iran Issues Stern Response to US Military Ground Invasion Threat, 16% Probability of US Ground Troops Entering Iran by Month End

**March 27 – Iranian Parliament Speaker Ali Larijani issued a hardline statement Wednesday dismissing the threat of a U.S. ground invasion, arguing: “The U.S. can’t even protect its own soldiers at regional bases—they only hide them in hotels and parks. How could they possibly safeguard these troops on Iranian soil?”** **Earlier, Iranian Foreign Minister Mohammad Javad Zarif posted on social media accusing U.S. forces of using civilians in Gulf Cooperation Council (GCC) member states as human shields, and calling on hotels in those countries to reject bookings from U.S. military personnel. Since the conflict began, U.S. troops have evacuated GCC military bases and sought refuge in hotels and office spaces, per CCTV International News.** **Monitoring by PolyBeats shows that on the prediction market Polymarket, the current probability of U.S. ground forces entering Iran by the end of this month is 16%, while the chance rises to 63% by the end of April.** **Earlier Wednesday, a s

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US Stock Market Opens Lower, Crypto-related Stocks Experience Widespread Declines, Nasdaq 100 Retreats 10% from Recent High, Potentially Entering a Correction Phase

**U.S. Stock Open: Major Indexes Lower; Crypto Stocks Decline (March 27)** Per Bitget market data, U.S. equities opened broadly lower Wednesday, March 27: - Dow Jones Industrial Average: -0.21% - S&P 500: -0.36% - Nasdaq Composite: -0.55% The Nasdaq 100 has slid 10% from its October 2023 high, with markets anticipating an imminent correction. Crypto-related U.S. stocks were broadly lower, including: - Coinbase (COIN): -4.1% - MicroStrategy (MSTR): -3.17% - MARA Holdings (MARA): -3.15% - SharpLink Gaming (SBET): -2.45% - BitMine Immersion (BMNR): -2.16% - Circle (CRCL): -1.93%

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Grayscale transfers approximately 9787 ETH and 446 BTC to Coinbase Prime

On March 27th, Arkham Data shows Grayscale transferred roughly 9,787 ETH to Coinbase Prime over about 10 minutes—valued at approximately $19.46 million. The firm also moved some 446 BTC, worth around $29.43 million.

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The US 30-year Treasury Bond yield has risen to 4.986%, the highest level since last September

On March 27, per Bitget market data, the U.S. 30-Year Treasury yield hit 4.986%—a fresh high since last September.

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Circle announces integration of USDC and CCTP with Pharos Network

March 27 — Circle announced that its stablecoin USDC and cross-chain settlement infrastructure CCTP will soon launch on the Pharos Network.

The world’s largest regulated stablecoin and secure CCTP will integrate with Pharos, a Layer-1 network built for use cases including tokenized real-world assets (RWA), institutional-grade decentralized finance (DeFi), stablecoin payments, and more.

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Islamic Revolutionary Guard Corps: Conducts Devastating Drone Attack on Base and Airport

(FX168) – On March 27th, Iran’s Islamic Revolutionary Guard Corps (IRGC) announced that the Iranian military launched a devastating drone attack overnight on Israeli military bases and transport hubs in Tel Aviv, plus military concentrations near Ben Gurion Airport. The strikes targeted Israeli special forces, with the goal of disrupting enemy ground and air force readiness, as well as support facilities and systems. The IRGC expects the attack to create an ongoing threat to enemy supply lines, directly impact Israel’s ability to carry out rapid, secure, large-scale transportation, and ultimately undermine the regime’s offensive capabilities.

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