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Hyperliquid-Based Ventuals’ Trading Volume Surges 100% in 17 Days

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Cumulative trading volume on the tokenized private equity platform reached $200 million about four months after the protocol’s launch.

Ventuals, a protocol that lets users trade tokenized exposure to private and pre-IPO companies, has crossed $200 million in cumulative trading volume less than three months after launch, according to a Feb. 11 X post from the platform’s co-founder, Alvin Hsia.

The milestone was reached just 17 days after cumulative volume first hit $100 million, on Jan. 24, a level that took the platform 73 days to achieve, Hsia noted.

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Ventuals trading volume over time. Source: Loris.Tools

On-chain data from LorisTools, which tracks activity across Hyperliquid’s HIP-3 products, shows cumulative volume on Ventuals has climbed past $215 million by press time. The platform has recorded 5,342 unique traders and generated over $70,000 in fees since going live in October 2025.

Built on the Hyperliquid blockchain, Ventuals allows traders to take synthetic, leveraged positions tied to the valuations of private companies, including firms such as Anthropic and OpenAI.

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Volume by symbol on Ventuals. Source: LorisTools

The most actively traded product so far is MAG7 — a contract tracking the so-called “Magnificent Seven” U.S. tech companies, which includes Amazon, Apple and Microsoft — which has seen over $4 million in trading volume today, Feb. 12, the data shows.

Alongside the surge in activity, Ventuals’ liquid staking token vHYPE, which represents a claim on the underlying HYPE, Hyperliquid’s native token, rose about 20% to $30, according to CoinGecko data.

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vHYPE chart, Jan. 23 – Feb. 12. Source: CoinGecko

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Crypto World

Crypto Scam Leader Extradited to China to Face Charges

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Crypto Scam Leader Extradited to China to Face Charges

Li Xiong, a key member of a group that allegedly helped crypto scam rings in Asia to move money, has been extradited from Cambodia to China, where he will face fraud and money laundering charges, according to Hong Kong-based news outlet Ta Kung Wen Wei.

On April 1, with strong support from the relevant authorities in Cambodia, a task force sent by China’s Ministry of Public Security successfully escorted Li Xiong, a core key member of the Chen Zhi criminal syndicate, back to China from Phnom Penh, Cambodia,” it said on Wednesday, citing a statement from China’s Ministry of Public Security on WeChat.

Xiong previously served as chairman of Huione Group, an alleged criminal organization that served scam centers in Cambodia that carried out “pig butchering” scams and other investment schemes to steal crypto from victims around the world. 

Huione Group was responsible for one of the largest illicit online marketplaces in the world, handling over $89 billion in cryptoassets.

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Source: Jacob in Cambodia

His extradition comes three months after the arrest of Chen Zhi, the head of Prince Group, which operates Huione Group. In October, it was reported that the US Department of Justice seized 127,271 Bitcoin (BTC) worth more than $15 billion from Zhi.

Related: Hong Kong retiree loses $840K in triple ‘crypto expert’ scam

The US Treasury Department’s Financial Crimes Enforcement Network directed US banks to cut payments and accounts tied to the Huione Group in October.

Authorities ask other Huione members to surrender

Ta Kung Wen Wei noted that several other members of Zhi’s criminal syndicate have been brought to justice “one after another,” citing comments from Chinese public officials.

“Public security authorities will continue to intensify efforts to capture fugitives,” it said, adding:

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“At the same time, they once again warn criminals to recognize the situation, stop before it is too late, surrender as soon as possible, and strive for lenient treatment.”

Magazine: Banks want to run Vietnam’s crypto exchanges, Boyaa’s $70M BTC plan