U.S. prosecutors allege two engineers used confidential Robinhood token listing data to front-run announcements using Hyperliquid perpetual futures.
- Federal prosecutors charged Robinhood engineers Hefu Chai and Huaisong Xiang with commodities and wire fraud, alleging they used confidential information about planned crypto listings to trade perpetual futures on Hyperliquid.
- Prosecutors said Chai traded before at least 10 listing announcements and Xiang before at least 11, with each earning more than $50,000 between 2025 and 2026.
- The charges show that trading derivatives on decentralized platforms remains subject to federal fraud laws, and each defendant could face up to 10 years in prison if convicted.
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The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters :
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Crypto poured years into new products. The next challenge is keeping users
The Clarity Act stalled. Bankers aren’t hitting the brakes yet on crypto dealmaking
Payments firm OpenPayd targets year-end Nasdaq listing to fund U.S. expansion and acquisitions
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