Daren Li, a 41-year-old dual citizen of China and St. Kitts and Nevis, has pleaded guilty to conspiracy to commit money laundering in connection with a scheme that laundered over $73 million from various cryptocurrency scams, including "pig butchering."
According to a plea agreement filed on November 11 in a California federal court, Li admitted to directing others to open U.S.-based bank accounts under shell companies to disguise the funds' origins.
The stolen money was converted into Tether (USDT) and distributed to wallets controlled by Li and his associates. He faces up to 20 years in prison, with sentencing scheduled for March 3, 2025.
PayPal USD links with LayerZero for transfers between Ethereum and Solana
PayPal's dollar-pegged stablecoin, PayPal USD (PYUSD), has integrated with LayerZero, a cross-blockchain bridging protocol, to facilitate transfers between Ethereum and Solana.
According to a statement from LayerZero on November 12, PYUSD now employs its Omnichain Fungible Token (OFT) Standard, allowing users to transfer assets seamlessly without relying on centralized platforms like Venmo or PayPal.
PYUSD's market capitalization has fluctuated significantly; it peaked at $1 billion in late August, with over $660 million circulating on Solana and $340 million on Ethereum. Currently, its market cap has dropped to approximately $513 million, with $166 million on Solana and $384 million on Ethereum, reflecting a notable decline in recent months.
3 key strategies to bring gamers to Web3 — Interview with MetaCene
Blockchain has introduced a new era of technological innovation to the gaming industry, and seasoned developers are joining the Web3 fray to venture into uncharted territories to shape the future of play.
Alan Tan, co-founder and CEO of MetaCene, is one such pioneer. Leading iconic titles like The Legend of MIR, Dragon Nest and Aion: The Tower of Eternity, Tan is now channeling his expertise into the blockchain realm.
With MetaCene, Tan and his team aim to build a next-gen blockchain MMORPG homeland for mass players. Founded by gaming experts with over 20 years of industry experience from Blizzard, Perfect World and more, the game offers a surreal post-apocalyptic society where survivors compete and collaborate to redefine civilizations.
MetaCene pioneers player-centric entertainment, governance and creation through innovative PVE and PVP gameplay, cutting-edge technology infrastructures, social guild decentralized autonomous organization (DAO) governance, sustainable economic systems and a robust creator economy.
In this interview, Alan Tan shared his inspiration to make the jump into Web3 and blockchain, along with key insights on bringing blockchain gaming to the mainstream.
