China News Daily Official TheBitTimes.com

A group of crypto traders are planning to launch legal action against prediction platform Polymarket after its controversial $242 million Volodymyr Zelenskyy suit market concluded last night. The resolution over “Will Zelenskyy wear a suit before July?” was disputed multiple times and eventually settled on “No” on Tuesday.  However, many onlookers and Polymarket users described the outcome as an example of “market manipulation” due to a small number of UMA token holders dictating the outcome of the bet — even if the conclusion was seen by many as being factually incorrect.  As a result, X user defipolice told Protos that he is reaching out to lawyers and discussing the possibility of legal action against Polymarket .  Ok its a lawsuit then @Polymarket and @UMAprotocol https://t.co/JU1Uo7UnBj — dp.hl (@defipolice_) July 8, 2025 Read more: Polymarket suitgate: Zelenskyy’s NATO look divides crypto bettors Defipolice reportedly lost roughly $30,000 on ...

Lawyers in Singapore have questioned Three Arrows Capital ( 3AC ) founder Su Zhu in court for the first time as they continue the search for billions of dollars of creditors’ funds, reports Bloomberg. In a two-day private hearing this week, Zhu took questions from lawyers representing Teneo, the firm tasked with liquidating 3AC. According to unnamed sources close to the proceedings, questioning focused on how and why 3AC failed and exactly where the missing assets went. Teneo estimates that somewhere in the region of $3.3 billion is owed to 3AC creditors and the liquidator is seeking to claw back $1.3 billion from Zhu and his 3AC co-founder Kyle Davies. Zhu was arrested under a committal order at Singapore’s Changi Airport in September after he ignored a court order and attempted to flee the country. The order stipulated that both Zhu and Davies were to be arrested on sight and imprisoned for four months . Zhu is reportedly set to be release d this month for good behavior. Liqu...