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‘Crypto Mining Queen’ Lyu Yongshuang: Once Controlled 9% of Global Bitcoin Hashrate, Swindled Out of 60 Million by ‘Middle Eastern Royal Son-in-Law’ in the US

Summary: "Mining Queen" Lyu Yongshuang (Fiona Lyu), an 80s-born Chinese entrepreneur, once controlled approximately 9% of the global Bitcoin mining hashrate through her company Valarhash and its pools, 1THash and Bytepool. Her fortunes shifted dramatically in 2021 following China's crackdown on crypto mining. Relocating to the US, she fell victim to an elaborate fraud by two American brothers, Zubair and Muzammil Al Zubair. Posing as an "Arab royal" and a hedge fund manager, they used bribery and a fake romantic relationship to trick Lyu into signing a mining facility contract in Ohio. The scam resulted in losses exceeding $9.4 million, including the theft and resale of 1,067 mining rigs. In 2026, the brothers received lengthy prison sentences. Concurrently, Lyu faced legal battles in China, where a court invalidated a mining contract with a listed company, ordering a refund of nearly $2.8 million. These events marked a severe downturn for the once-powerful industry figure.

marsbit06/11 10:17

‘Crypto Mining Queen’ Lyu Yongshuang: Once Controlled 9% of Global Bitcoin Hashrate, Swindled Out of 60 Million by ‘Middle Eastern Royal Son-in-Law’ in the US

marsbit06/11 10:17

Who Will Define the Rules of the AI Era? Anthropic Discusses the 2028 US-China AI Landscape

This article, based on Anthropic's analysis, outlines the intensifying systemic competition between the U.S./allies and China for AI leadership by 2028. It argues that access to advanced computing power ("compute") is the critical bottleneck, where the U.S. currently holds a significant advantage through chip export controls and allied innovation. However, China's AI labs remain competitive by exploiting policy loopholes—via chip smuggling, overseas data center access, and "model distillation" attacks to copy U.S. model capabilities—keeping them close to the frontier. The piece presents two contrasting scenarios for 2028. In the first, decisive U.S. action to tighten compute controls and curb distillation locks in a 12-24 month AI capability lead, cementing democratic influence over global AI norms, security, and economic infrastructure. In the second, policy inaction allows China to achieve near-parity through continued access to U.S. technology, enabling Beijing to promote its AI stack globally and integrate advanced AI into its military and governance systems, altering the strategic balance. Anthropic contends that maintaining a decisive U.S. lead is essential for shaping safe AI development and governance. The core recommendation is for U.S. policymakers to urgently close compute and model access loopholes while promoting global adoption of the U.S. AI technology stack to secure a lasting strategic advantage.

marsbit05/16 05:08

Who Will Define the Rules of the AI Era? Anthropic Discusses the 2028 US-China AI Landscape

marsbit05/16 05:08

A Ceasefire Without Trust Is Merely a Pause

"The Ceasefire Neither Side Can Keep" by Thomas Aldren examines the fragile truce between Iran and the US in 2026, framing it as a pause rather than a path to peace. The article argues that the lack is structural, rooted in both nations' historical and theological paths. Iran's political theology, since Khomeini's 1988 fatwa, reserves the right to revoke commitments if state interests demand, placing the state above all else. The US, having withdrawn from the JCPOA and pursued maximum pressure and military strikes like the 2025 "Midnight Hammer" operation, undermined its own credibility as a contractual partner. This mutual "idolatry"—elevating military power or state authority above covenant—has destroyed the moral and institutional foundations for trust. The ceasefire, with no public text or verification, is an empty shell. True peace requires both sides to first acknowledge their own idolatrous patterns rather than solely blaming the other.

marsbit04/09 13:04

A Ceasefire Without Trust Is Merely a Pause

marsbit04/09 13:04

Chinese and American AI Companies Rush to List, Crypto Waits in the Corner for Opportunities

Chinese AI companies are rushing to IPOs at reasonable valuations, driven by a "common prosperity" policy to distribute wealth more broadly, while US AI giants like OpenAI and Anthropic are expected to go public around late 2026 at valuations potentially 100x higher. This AI IPO wave is drawing significant investor attention and capital away from other sectors, including crypto, in the short term. As a result, crypto faces funding headwinds and price pressure. However, this downturn may create attractive early-stage investment opportunities in crypto by 2026, similar to the post-2018 cycle. Longer term, AI is expected to boost crypto adoption by improving user experience through AI frontends and enabling autonomous agent-to-agent commerce on blockchain networks.

marsbit04/03 05:00

Chinese and American AI Companies Rush to List, Crypto Waits in the Corner for Opportunities

marsbit04/03 05:00

90% of Rare Earth Refining is in China's Hands, American Humanoid Robot Mass Production Faces a Hardware Bottleneck

The article highlights a critical vulnerability in the U.S. ambition to mass-produce humanoid robots like Optimus: China’s dominance over the hardware supply chain, particularly rare earth elements (REEs). China controls 70% of global rare earth mining, 85–90% of refining capacity, and over 90% of rare earth magnet production—key components in actuators, motors, and sensors essential for robotic joints and drivetrains. Major U.S. robotics firms rely heavily on Chinese and Japanese suppliers for critical components such as harmonic reducers, servo systems, and precision gears, while retaining only the AI "brain" domestically. In a scenario with 1 billion humanoid robots by 2050, Morgan Stanley estimates massive demand for neodymium, dysprosium, and terbium—consuming significant portions of global reserves. The author urges the U.S. to invest in rebuilding its rare earth supply chain—from mining and refining to magnet production—and lists key firms involved in magnet metals, structural metallurgy, and semiconductors. Without secure, cost-competitive access to these materials, U.S. robotics growth faces a structural risk, with China holding a potential "shut-off switch" over hardware production.

marsbit03/16 02:17

90% of Rare Earth Refining is in China's Hands, American Humanoid Robot Mass Production Faces a Hardware Bottleneck

marsbit03/16 02:17

US Moves to Seize $3.44M USDT Tied to Crypto Investment Scam

U.S. federal prosecutors have filed a civil forfeiture action to seize approximately $3.44 million in USDT linked to an online cryptocurrency investment scam. The scheme targeted victims across multiple states by establishing trust through mistaken text or encrypted app messages before promoting a fake Ethereum investment opportunity backed by physical gold. Victims were instructed to send ETH to scam-controlled wallets, where funds were converted to USDT and moved through intermediary addresses. The investigation began in late 2024 after reports from four victims. Authorities seized the USDT in early 2025 and are seeking permanent forfeiture. This case is part of broader efforts to recover crypto assets, including recent actions against romance scams.

TheNewsCrypto03/11 12:44

US Moves to Seize $3.44M USDT Tied to Crypto Investment Scam

TheNewsCrypto03/11 12:44

U.S.–Iran Conflict Sends Bitcoin Below $67K, Global Markets Recoil

The escalating U.S.-Iran military conflict has triggered a sharp decline in cryptocurrency markets. Following President Trump’s announcement that the U.S. will not cease retaliatory airstrikes until its objectives are met, Bitcoin fell below $67,000, and major altcoins like ETH, SOL, and XRP dropped by approximately 3%. Israel’s subsequent airstrikes on Tehran and expanded operations in Lebanon further intensified the sell-off. Trump warned that Iranian attacks could continue for weeks and urged Iranian forces to surrender. The UK also authorized the U.S. to use its military bases for strikes against Iranian missile sites, amplifying geopolitical tensions. Experts warn that prolonged conflict could reverse recent crypto market gains.

TheNewsCrypto03/02 10:51

U.S.–Iran Conflict Sends Bitcoin Below $67K, Global Markets Recoil

TheNewsCrypto03/02 10:51

US Secretary of Commerce Howard Lutnick Expresses Confidence in America’s Growth, What’s for Crypto?

US Secretary of Commerce Howard Lutnick has expressed strong confidence in US economic growth through 2026, predicting a manufacturing boom that will create millions of high-paying jobs, particularly in construction. He emphasized that this growth will move away from unproductive roles driven by bureaucracy. This optimism comes amid favorable economic data from November 2025, with CPI inflation at 2.7% and unemployment at 4.6%. Lutnick’s outlook may also positively impact the crypto market, as increased employment and economic confidence could drive investment into assets like Bitcoin and Ethereum. BTC is predicted to reach $103,104 in three months, while ETH may surge to $5,353.01.

TheNewsCrypto01/02 09:37

US Secretary of Commerce Howard Lutnick Expresses Confidence in America’s Growth, What’s for Crypto?

TheNewsCrypto01/02 09:37

USA, Russia quietly discuss Bitcoin mining at ZNPP as Kyiv is left out – Details

According to reports from Kommersant, U.S. and Russian officials have privately discussed using the Russian-occupied Zaporizhzhia Nuclear Power Plant (ZNPP) for large-scale Bitcoin mining, potentially making it a bargaining chip in broader peace negotiations. While the official topic of Russia’s State Council meeting was routine, President Putin reportedly indicated U.S. interest in acquiring a stake in ZNPP for crypto mining, shifting its role from a military asset to digital infrastructure. The plant, non-operational since 2022, remains a focal point in management disputes. The U.S. has proposed a three-way operational split, while Ukraine rejects joint control with Russia, instead advocating a 50-50 partnership with the U.S. This development aligns with Russia’s broader strategy to tightly regulate crypto assets by 2026, treating external activity as illegal by 2027. The proposal highlights the unpredictable nature of modern diplomacy, blending energy politics, digital economics, and territorial negotiations.

ambcrypto12/27 06:03

USA, Russia quietly discuss Bitcoin mining at ZNPP as Kyiv is left out – Details