The UK has imposed new sanctions on Southeast Asian scam networks, naming Chen Zhi and his long-time collaborator Hu Xiaowei, and sanctioning the cryptocurrency exchange "New Coin," alleging that it supports fraudulent activities.

PANews January 21 News, according to Decrypt, the authorities of the British Crown dependency of Guernsey have approved the confiscation of $11.4 million (£9 million) related to the OneCoin fraud case, following an application from the German Bielefeld authorities under its Criminal Gains Law. The funds are held in an account at RBS International Bank in Guernsey. This confiscated asset accounts for only about 0.2% of the total losses from OneCoin, reflecting the ongoing difficulty in fully recovering assets in cryptocurrency fraud cases.

Paradigm announces a $13.5 million investment in Brazilian stablecoin company Crown, with this round valuing the company at approximately $90 million. Crown's BRLV stablecoin is pegged to the Brazilian Real, backed by Brazilian government bonds, with a scale of about 360 million reais, primarily targeting institutional clients and offering high-yield returns. Paradigm is optimistic about Crown's expansion potential.

According to Gate News bot, cryptocurrency venture capital firm Paradigm has announced a $13.5 million investment in Brazilian stablecoin startup Crown, marking Paradigm's first investment in the Brazilian market. According to The Block, this investment will be used to support Crown's business development in Brazil. Crown focuses on providing stablecoin-related services and solutions for the Brazilian market.