News

Jinse Finance reported that the Bank of America's Global Fund Manager Survey for October shows that most investors believe "going long on gold" has become the most crowded trade in the market. A total of 43% of surveyed investors listed "going long on gold" as the most crowded trade, surpassing the 39% who chose "going long on the Magnificent Seven." The survey also shows that 39% of investors currently have nearly 0% gold positions, 19% allocate about 2%, and 16% allocate about 4%. According to statistics, the weighted average allocation ratio for gold is only 2.4%.

Jinse Finance reported that the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed comprehensive sanctions on 146 targets within the "Prince Group Transnational Criminal Organization" (Prince Group TCO). This organization, based in Cambodia and led by Cambodian national CHEN ZHI, operates a transnational criminal empire through online investment scams targeting Americans and others globally. In addition, the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) has removed the Cambodia-based financial services group "Huione Group" from the U.S. financial system. For years, Huione Group has laundered proceeds from virtual currency scams and thefts for malicious cyber actors. According to the U.S. District Court for the Eastern District of New York (EDNY), OFAC seeks to confiscate 127,271 bitcoins (approximately 12 billions USD).