Flash News

TREE NEWS update: The CFTC sued Louisiana on Friday to block a state judge’s order banning 31 prediction markets, including Kalshi and Polymarket, in the state. The lawsuit follows the Louisiana attorney general’s criticism of the CFTC chair, whom he called an “obsequious standard bearer” for prediction markets. The action sets up a federal-state clash over whether event contracts fall under CFTC jurisdiction.

TREE NEWS update: BitGo said its systems were not compromised in the Unocoin incident, stating that recent outbound transactions were signed by Unocoin’s own user key and backup key and broadcast directly on-chain outside the BitGo platform. BitGo’s third key was never used and other clients were unaffected. Unocoin, which uses a 2-of-3 self-custody wallet, detected an outbound transaction from an Ethereum address in its BitGo wallet infrastructure on Nov. 12 and has suspended all services.

TREE NEWS update: Italy’s data protection authority fined Meta €805 million over the alleged use of Android users’ videos and photos without consent. The regulator announced the penalty against the platform, citing privacy violations tied to the handling of user media. Meta has not commented on the decision in the material provided.

TREE NEWS update: Thailand launched a new payment app called WORPT that lets foreign tourists convert cryptocurrency into Thai baht and pay at shops and restaurants by scanning locally used barcodes, without opening a Thai bank account. The app was developed by Wipay and Waan Exchange, the latter founded by Chaval Jiaravanon of the Chearavanont family, and operates under the TouristDigiPay regulatory pilot launched by Thailand’s Securities and Exchange Commission.

TREE NEWS update: The 2026 China Capital Markets Academic Annual Conference opened in Shanghai on November 14. Zhou Xiaochuan, vice chairman of the 12th National Committee of the Chinese People’s Political Consultative Conference, attended and delivered the opening speech. Wu Qing, chairman of the China Securities Regulatory Commission and president of the China Capital Market Society, and Shanghai Mayor Zhu Zhongming also addressed the event.

TREE NEWS update: Singapore filed 41 charges against Shi Bingzhe and two companies over money-laundering allegations tied to the purchase of 917 servers, expanding a probe that involves shipments to Malaysia. The case centers on Nvidia-linked hardware and adds to scrutiny of server flows through the region.

TREE NEWS update: Senator Rick Scott has asked Nvidia CEO Jensen Huang to appear before Congress on Dec. 3 and Commerce Secretary Howard Lutnick on Dec. 10 to testify on Nvidia export controls. A Commerce spokesperson said Lutnick has agreed to testify voluntarily. The requested appearances concern U.S. restrictions on Nvidia chip exports.

TREE NEWS update: Iran said it will not restore nuclear safeguards measures during what it described as “extraordinary times,” according to a statement reported on the nuclear file. The remark signals Tehran is holding back from re-embracing the monitoring arrangements it had previously scaled back. No timeline or conditions for a resumption were given in the statement.

TREE NEWS update: The U.S. Department of Justice moved to seize $1.2 billion tied to the Binance hack and disrupted a North Korean deepfake scheme, the agency said. Meta separately tested a prediction-market app that uses points rather than cash. The two developments were reported together.

TREE NEWS update: China’s National Data Administration held an on-site meeting in Xiamen on the afternoon of Nov. 10 to advance pilot construction of high-quality datasets and data annotation. The agency said it will implement the central government’s decisions on artificial intelligence development and accelerate the growth of the dataset-building and data-annotation industries.

TREE NEWS update: China Securities Regulatory Commission Chairman Wu Qing said capital market reform must balance stability and progress, efficiency and fairness, and development and security, speaking at the 2026 China Capital Market Academic Annual Conference. He noted the A-share market has more than 200 million stock investors and over 800 million fund holders, requiring research into China’s market characteristics and structural problems while adhering to market-oriented, law-based and internationalized reform.

TREE NEWS update: China Securities Regulatory Commission Chairman Wu Qing said the regulator will deepen research into two-way empowerment between artificial intelligence and capital markets, speaking at the 2026 China Capital Market Academic Annual Conference. Wu said the CSRC will study valuation and pricing, disclosure rules and liability determination, data security, client protection and systemic risk, with a focus on guarding against algorithm black boxes, AI cyberattacks and improving the resilience of financial infrastructure to promote safe and standardized AI application.

TREE NEWS update: China Securities Regulatory Commission Chairman Wu Qing said the regulator will step up research on how listing rules can better accommodate large and new-type technology companies and their risk-response mechanisms, while keeping pace scientifically. Speaking at the 2026 China Capital Market Academic Annual Meeting, he also called for deepening inclusive and adaptive institutional reforms and improving the listed-company structure by supporting quality firms in new consumption and traditional-industry upgrading.

TREE NEWS update: China Securities Regulatory Commission Chairman Wu Qing said the regulator will further deepen research on long-term market stability mechanisms, speaking at the 2026 China Capital Market Academic Annual Meeting. Wu said China’s capital market is now highly linked with global markets and called for stronger research on cross-border, cross-market and cross-industry risk transmission to guard against abnormal market volatility.

TREE NEWS update: China Securities Regulatory Commission Chairman Wu Qing said the regulator will study and evaluate the optimization of rules on quantitative trading and share reductions, alongside fair and reasonable regulatory arrangements, to protect investor rights. Speaking at the 2026 China Capital Market Academic Annual Meeting, Wu also called for deeper research on improving capital supply structure, growing long-term and patient capital, and reducing market volatility from herd behavior and short-term trading.

TREE NEWS update: China’s National Healthcare Security Administration on Nov. 14 added Jinbeixin (fuxinqibai monoclonal antibody), a Class 1 innovative biologic developed by GenSci, to the national medical insurance drug catalog. The drug, administered once every six months, is used to treat gout. The listing was part of the agency’s announcement of newly added drugs for both the national reimbursement list and the commercial insurance innovative drug list.

TREE NEWS update: The Securities Association of China has distributed a notice to securities firms launching a survey on financial digitalization applications, aimed at guiding the industry’s deepening of digital finance, improving accounting quality and upgrading financial functions. The questionnaire divides financial digitalization into five progressive stages and focuses on six financial domains, while flagging AI-related risks as a priority to balance efficiency gains with security.

TREE NEWS update: US Homeland Security Secretary Mullin said no evidence has been found indicating the incident was caused by a cyberattack or artificial intelligence. The department is still reviewing the possibility of a cyberattack and has not ruled it out, Mullin said.

TREE NEWS update: Paraguay’s state utility ANDE said special electricity contracts for high-consumption users including cryptocurrency miners will terminate on Dec. 31, 2027, and will not be renewed under current rules. The contracts cover 943.8 MW drawn from Paraguay’s surplus hydropower. The move is expected to significantly affect HIVE Digital Technologies, which has about 77% to 80% of its active mining capacity in Paraguay. ANDE is meanwhile signing 15-year power supply agreements with AI data centers.

TREE NEWS update: The US Supreme Court agreed to hear Robinhood Markets’ appeal seeking to dismiss a class-action lawsuit over its 2021 IPO. Investors allege Robinhood’s IPO filings failed to adequately disclose risks from the fading meme-stock and crypto trading boom and declining key metrics, causing shares to fall sharply after listing. The Ninth Circuit revived parts of the suit in 2025 after a San Francisco federal court dismissed it. A ruling is expected by the end of June next year.