Shiyan, Hubei Issues Warning About the Risks of Cryptocurrency Pyramid Schemes

Trump's AI plan eases data center rules, strips federal DEI guidelines

Both a trendy toy, a currency, and the new king of MEMEs: Labubu "successfully breaks into the US market," and the token with the same name, $LABUBU, surges again. The Nordic elf Labubu is sweeping the trendsetting circles, from Thai celebrities and socialites to Rihanna at Los Angeles airport, London trendsetters, and New York fashionistas, all queuing overnight just to grab a Labubu. Pop Mart's newly released third-generation "High Energy Ahead" series is selling like hotcakes worldwide. It once topped the US App Store shopping chart, with second-hand platforms seeing premiums of up to dozens of times the original price, earning it the nickname "trendy toy Bitcoin." This cultural momentum has also ignited the crypto market. The MEME coin $LABUBU with the same name recently saw its market cap soar to $18.00 million, with a single-day trading volume of $9.50 million. Although not an official coin, it once surged to a $20.00 million market cap during the 2024 MEME craze, especially in Thailand, where it triggered a phenomenon-level following. Today, Labubu's popularity has surpassed established IPs like PEPE and DOGE. Google Trends shows that its search volume is leading globally, and it is being called "Generation Z's social currency." Some people are using hidden versions to trade for iPhones, Hermès bags, and even music festival tickets, truly demonstrating "trendy toys as assets." Labubu's global breakout path is strikingly similar to the logic of MEME coins: relying on emotional value, social dissemination, and identity-driven fission to become a triple engine connecting culture, capital, and the aesthetics of the new generation. Next stop, it may not be a doll, nor a coin, but a cultural super-symbol. $LABUBU, will it be the next PEPE?

🔥 "King of Pyramid Schemes" PI Mainnet Countdown: Are 60 Million Brainwashed People About to "Realize Their Dreams"? Six years sharpening a sword or honing a sickle? The launch date of $PI becomes the "ultimate test of IQ tax". Author | Nan Zhi (@Assassin_Malvo) After nearly six years, the "legendary project" in the cryptocurrency world, Pi Network, has finally announced that it will launch its mainnet on February 20: https://t.co/erVAiolKtw. From its inception, PI has been filled with controversy, with slogans like "one coin, one young model; two coins, exchange for a yacht". Various pyramid schemes and fission tactics have turned it into a belief for countless followers, while many see it as an "IQ tester". Today, OKX @okx announced that it will open Pi Network spot trading simultaneously with the Pi Network mainnet launch. Could it be that this time, the aunties will really make a fortune? Origin of PI Coin Pi Network was established in 2019 by Stanford alumni Nicolas Kokkalis, Chengdiao Fan, and Vincent McPhillip. Initially, it promoted itself as a decentralized cryptocurrency aimed at "inclusive finance", with the core idea of lowering the entry barrier for cryptocurrency, allowing users to "mine" for free through a mobile APP, without the need for professional equipment and electricity consumption. In its early stages, the project rapidly accumulated users through an invitation system and social fission, and began its KYC process at the beginning of 2022. As of the mainnet announcement, there are over 60 million users, of which 19 million users have completed KYC, and over 10 million users have migrated to its mainnet. OKX @okx Spot The deposit, bidding, and spot trading times for OKX are as follows: PI Deposit Opening Time: February 12, 2025, 10:45 AM (UTC+8) PI Collective Auction Time: February 20, 2025, 3:00 PM to 4:00 PM (UTC+8) PI/USDT Spot Trading Opening Time: February 20, 2025, 4:00 PM (UTC+8), coinciding with the launch of Pi Network's mainnet. It is worth noting that market orders are not allowed in the first five minutes of spot trading, and the maximum limit for limit orders and maximum holding amount is set at $10,000. The current circulating supply of PI Coin is 6.041 billion coins, accounting for 65% of the total supply of 9.294 billion coins. IQ Tester? Get-Rich Myth? Or the Beginning of a New Round of External User Influx? The debate over the true value of PI has never ceased since its inception. However, it is undeniable that the concept of PI ≈ strong promotion and fission has taken root in people's minds. Aside from the Pi Network project itself, many other projects leveraging the PI name have created considerable records. In the second wave of the inscription frenzy at the end of 2023, the market value of piin once exceeded $20 million, consistently ranking among the top five in trading volume on the OKX inscription market. Currently, in the inscription rankings, the latest PI concept inscriptions π and п have market values of $138 million and $16 million, respectively. At the same time, Pi Network has also been pursued and blocked due to its involvement in the gray market. CCTV once reported that Pi Network is a "typical pyramid scheme" https://t.co/7Bx1kfDKoO, pointing out that its claimed high returns (such as "1 Pi = $200") lack actual support and may mislead investors. Law enforcement in several countries, including India and Vietnam, has investigated Pi Network, considering its activities may involve illegal fundraising and pyramid schemes, warning participants of potential legal risks. In 2021, DOGE led a massive influx of users and new capital into the market. Many users are also waiting for a breakout token in this bull market. Can PI replace TRUMP to accomplish this task and lead countless aunties into the market? Or will it become the Top Signal of user and capital depletion? Let's wait and see.

On-chain venture capital platform Fission Labs raised $1.60M in a Pre-seed funding round led by @SALTConference, Kraynos Capital, with participation from @scaramucci. https://t.co/ZywDPoWOM3 https://t.co/diAfEjBqjZ