According to GMGN data, the market capitalization of Meme coin "Niu Lai" on the BSC chain experienced a sharp drop in a short period, currently trading at $14.71 million, a 36.01% decrease in one hour, while the 24-hour increase has narrowed to 412.7%. Odaily reminds users that the price of Meme coin is highly volatile, and investors should participate with caution.

According to Odaily, Hong Kong police arrested 14 men and 3 women, aged between 20 and 54, in an operation codenamed "Blitz," including 13 Malaysians and 4 locals. They also raided three locations and seized HK$3.67 million in cash, believed to be proceeds of crime. The fraud syndicate recruited Malaysians from overseas, arranging their flights and accommodations to come to Hong Kong to act as runners. They impersonated relatives of elderly people, falsely claiming to have been arrested by the police and demanding bail, then arranged for runners to collect the cash. Police investigations revealed that the syndicate collected HK$4.67 million in fraudulent funds between June 4 and August 14. The case involves 22 victims, with reported losses totaling HK$2.47 million. On August 14, police arrested five people, including two local residents (two men and two women) and one Malaysian man; all are currently detained for investigation. Police also recovered HK$200,000 in fraudulent funds. Police stated that some foreign currency or cryptocurrency exchange shops have been exploited by fraud syndicates to process or transfer defrauded funds. They reminded relevant shops to verify customer backgrounds, transaction purposes, and sources of funds, and to be wary of unusual cash and cryptocurrency transactions. Conspiracy to defraud carries a maximum penalty of 14 years imprisonment. (HK01 NFT)

According to a recent disclosure by the U.S. Securities and Exchange Commission (SEC), Gaoyi Asset Management held 19 U.S. stocks at the end of the second quarter, with a total market value of approximately $979 million, significantly increasing its investment in the semiconductor and memory supply chain. In terms of holdings, TSMC, Huazhu Group, Pinduoduo, BOSS Zhipin, and Ctrip were the top five holdings, accounting for 24.32%, 17.20%, 16.86%, 15.51%, and 4.21% of the total holdings, respectively. These top five holdings accounted for approximately 78.1% of Gaoyi Asset Management's U.S. stock holdings at the end of the second quarter. Specifically, Gaoyi significantly increased its holdings in Micron Technology and SanDisk in the second quarter. Micron's holdings increased by 283.48% quarter-on-quarter, with a market value of approximately $39.73 million; SanDisk's holdings increased by approximately 192%, with a market value of approximately $36.38 million. Micron and SanDisk ranked as the sixth and seventh largest holdings, respectively. In addition, Gaoyi increased its holdings in BOSS Zhipin, Ctrip, Beike, Huazhu Group, Yum China, and Pinduoduo; and established new positions in Vertiv, WeRide, Visa, and Alibaba. On the reduction side, Gaoyi lowered its positions in Nvidia, NetEase, iQiyi, and Ralphite, with its holdings in Nvidia and NetEase decreasing by 72.41% and 76.47% respectively. It also completely sold off its holdings in Futu, Lumentum, XPeng Motors, and NIO.