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Quick staking, earn potential new tokens
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6.5%
Trade & earn at the same time
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3.05%
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6.82%
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VIP Wealth Hub
11%
Limited-time 11% APR on USDT
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Top-tier quant strategies
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3.5%
Earn reliable returns from Treasury RWAs
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In China, a case of an underground bank involving $1.9 billion using USDT was revealed
Chinese law enforcement agencies have uncovered the activities of an underground bank amounting to 13.8 billion yuan (about $1.9 billion).
According to the local publication Red Star News, its employees used the stablecoin Tether (USDT) for illegal yuan exchanges.
Reports indicate that 193 suspects have been arrested in 26 provinces of China.