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A new chapter for Solana (SOL) is unfolding as excitement grows around a possible new investment product in the US market. Rex-Osprey’s CEO, Gregory King, has allegedly confirmed that his firm’s Solana staking ETF will launch on July 2, becoming the first of such a fund to roll out. REX-Osprey to Launch First Staking-Enabled Solana
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Veer Chetal, one of three men who stole $245 million in Bitcoin last year, just pleaded guilty to fraud and money laundering charges. He agreed to testify against his co-conspirators as part of the deal.
Chetal now faces 19 to 24 years in prison, and his parents may be deported from the US. Although he ran a competent scam, his subsequent actions repeatedly damaged his fortunes.
The crypto community has seen a lot of scams over the last few years, but some truly bizarre incidents are coming into the spotlight.
Last year, Veer Chetal, a teenager from Connecticut, stole $245 million in Bitcoin with the help of two accomplices. Shortly after, kidnappers abducted his parents in an attempt to steal these ill-gotten gains.
Now that Chetal has pleaded guilty to the Bitcoin theft, several relevant court documents have been unsealed. This is making more of the full picture come to light.
It seems that the six kidnappers had nothing to do with the initial theft, either as accomplices or perpetrators. The kidnappers assaulted Chetal’s parents, but the extortion proved unsuccessful.
ZachXBT, the prominent crypto sleuth, initially spearheaded the investigation of Chetal’s Bitcoin theft. He referred to the theft as a “highly sophisticated social engineering attack.”
However, he also noted that poor operational security allowed him to find the culprits’ identities. Now that Chetal is practically guaranteed to see prison time, the sleuth indulged in a little gloating:
According to the unsealed documents, Chetal participated in around 50 similar crimes before his big Bitcoin theft, which netted him around $3 million.
His current plea deal will likely include over a decade in prison after he tried to participate in another scam while out on bail. Chetal’s Indian-born parents also face deportation from the US, as his father lost his job following the kidnapping.
All that is to say, there may be a lot of social engineering scams in crypto right now, but many of their perpetrators are objectively incompetent.
The post A $245 Million Bitcoin Thief Pleads Guilty in the US appeared first on BeInCrypto.
The United States through US President Donald Trump has contacted China through several diplomatic channels in an effort to begin tariff negotiations, according to a report from Chinese state-affiliated media. The outreach signals a new attempt by the US administration to reopen trade discussions amid ongoing economic challenges and strained relations.
According to Yuyuantantian, a Weibo account linked to China Central Television (CCTV), the United States has reached out to China in recent weeks. The account cited unnamed sources familiar with the matter but did not provide detailed information on the nature of the communications or the officials involved.
The report suggests that the US President Donald Trump has used multiple communication lines to initiate talks over the wide-ranging tariffs it previously imposed on Chinese goods.
These tariffs have remained a central issue in the ongoing trade dispute between the two nations. Officials in Washington have not yet confirmed the details of the reported outreach, but related statements from US leaders suggest active interest in restarting discussions.
President Donald Trump has not stopped stressing the need to work with China on trade. While discussing it at the Cabinet meeting, Trump mentioned some figures suggesting that cargo turnover between the two countries declined recently. He opined that this could force Beijing to come to the negotiating table.
During the meeting, the president asserted, “We want China to do well, but we also want to be treated fairly.” He also stated that he would like to directly address Chinese President Xi Jinping in the future but did not state when this is likely to happen.
On Tuesday, US Treasury Secretary Scott Bessent said that Beijing needs to make the first move to de-escalate the tensions in the trade field. He said this in response to Trump’s remark that if China wants peace, then it has to turn to the US to make the first move.
In its report, Yuyuantantian noted that China sees the United States as the more eager party at the moment. The post stated that China will continue to observe developments and wait for the US to show “meaningful measures” before entering formal discussions.
The report also referred to economic and political pressure facing the Trump administration, including the recent contraction of the US economy. Government data confirmed that the economy shrank during the first quarter of the year, marking the first decline since 2022. Economists believe that slowing consumer demand and a sharp increase in imports before new tariffs were implemented contributed to the downturn.
Chinese analysts cited by local media stated that Beijing does not currently feel the need to respond unless there is evidence of real change in US policy. These comments suggest that any new dialogue will depend on clear moves by Donald Trump.
According to the most recent statistics, consumer spending in the US has gone down and trade is also experiencing a slump. This has stirred some uneasiness and maybe contributing to this revived effort towards negotiation with the Chinese. If this easing remains, analysts predict a massive recovery in the crypto market due to positive sentiment among traders.
The White House is also trying to implement new approaches for the regulation of trade. One of the recommendations is the utilization of funds from the tariffs to purchase digital currencies like Bitcoin. However, being still in the discussion stage this plan has drawn attention among the market analysts and policy makers
At present, there is no confirmed meeting scheduled between US and Chinese officials. However, both sides appear to be watching each other closely, as the global trade environment remains uncertain.
The post US Reaches Out to China as Donald Trump Seeks Tariff Negotiations: Report appeared first on CoinGape.
Superstate New Platform:- The tokenization of Real World Assets is the biggest bet that the web3 firms are focusing as of now.
In another groundbreaking update, the Solana Infra company, SOL Strategies, has announced its plan to bring registered shares On-chain.
For this, SOL Strategies has team up with Superstate to bring its SEC-registered public equities and get them trading on blockchain networks.
This comes after on Thursday, Superstate launched a platform – Opening Bell. It allows companies to issue SEC-registered shares directly onto blockchain.
Superstate last month in March unveiled its transfer agent with the US Securities and Exchange Commission – Superstate Swrvices LLC. Using this SEC-registered transfer agent, it will record and tokenize the actual shares of the companies via Opening Bell.
According to the company’s blog post, for already publicly traded companies, it will open a new capital market all while maintaining compliance with existing securities regulations.
For companies not yet public, it will allow them to start trading in the crypto market and raise from crypto investors. They will also have a future option to move to traditional stock exchanges like the Nasdaq or NYSE.
Superstate’s Opening Bell platform aims to modernize capital markets by offering features such as 24/7 trading, instant settlement, and global accessibility.
Thus, the platform is designed to support both existing public companies and late-stage private firms seeking more flexible access to liquidity.
The first company to utilize Opening Bell is SOL Strategies. As a Canada-based firm focused on investing in and providing infrastructure for the Solana blockchain ecosystem, SOL Strategies is listed on the Canadian Securities Exchange (CSE) with Ticker symbol HODL
SOL Strategies plans to list its shares on the platform. This marks a significant step towards integrating traditional equity markets with blockchain technology.
Interestingly, the announcement comes after SOL Strategies acquired 122,524 $SOL on May 6.
Also Read: US Treasury Slam Senate For Blocking GENIUS Act
Superstate CEO Robert Leshner said in a recent interview, “Opening Bell aims to bring traditional public equities into Blockchain.”
It will allow investors to trade the publicly listed shares of equities on traditional exchanges as well as on the blockchains like Solana, Ethereum.
CEO Robert also said, “there is also an opportunity to replace the assets that are trading currently – mostly memecoins and crypto native tokens – and complement them with new asset – equity.
Companies that work with us can trade on the Nasdaq and Solana/Ethereum simultaneously
— Robert Leshner (@rleshner) May 8, 2025
Indeed, this can be a transformative shift in the kind of assets available for trade on blockchains. They’re generally memecoins and native crypto assets of the respective blockchains.
However, crypto assets like Bitcoin, Ethereum, stablecoins, DeFi tokens exist to store value. They fuel decentralized apps and protocols, collateralize loans, pay transaction fees, govern networks, etc.
While tokenized shares are ownership stakes in real‐world companies. They’re regulated just like the paper or book‑entry shares we’d buy on a traditional exchange. With Superstate’s Opening Bell, they will only now they live on‑chain.
Thus, Opening Bell isn’t designed to “wipe out” existing crypto‑asset trading. It will simply add a whole new asset class (tokenized public shares) to the same blockchains where we already trade ETH, BTC, stablecoins, etc.
Also Read: Jeffy Yu Death Controversy
The post Superstate CEO Launches Platform To “Replace Crypto Assets With Equities” – SOL Strategies Makes First Bet! appeared first on CoinGape.