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The Doge King (DOGEKING) token speculation case is a typical example of capitalizing on the popularity of the Spring Festival Gala to harvest retail investors.

On January 31, 2022, during the CCTV Spring Festival Gala, Shen Teng mentioned in the skit "Still Not Returning" that he was trading dogs in the metaverse and even referred to himself as the "dog king" of the metaverse. As early as November 2021, the token DogeKing was already launched on the Binance Smart Chain, which is a derivative of Dogecoin.

On the night of the gala, as soon as Shen Teng's lines were spoken, investors began to buy DogeKing. The price of this token surged fourfold within five minutes from 20:55 to 21:00, and in the following half hour, it skyrocketed at a rate of doubling every five minutes, reaching a peak increase of 1009.83% within the day, with a 24-hour trading volume of approximately 15,580,000 RMB.

After the gala ended, early participants began to cash out in large quantities. Subsequently, the popularity of the token faded, and its market value plummeted, eventually falling below 2% of its peak value, with over 85% of following retail investors suffering losses. Additionally, this project lacks clear team information and a white paper, relying solely on hype without any practical application value, essentially being a speculative harvest targeting retail investors.

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Federal Reserve's October Rate Cut Review #美联储FOMC会议

The Federal Reserve announced a 25 basis point rate cut on October 30, 2025, lowering the target range for the federal funds rate to 3.75%-4.00%. This is the second consecutive rate cut following the one in September, and the fifth rate cut since the beginning of this easing cycle in September 2024.

This rate cut is primarily based on the easing of inflationary pressures (the core inflation growth rate slowed in September) and a significant cooling of the job market (employment growth has slowed this year, and the unemployment rate has slightly increased). The Federal Reserve also announced that it will end balance sheet reduction on December 1.

The impact of this rate cut on the economy is mainly reflected in the following aspects:

1. Stimulating economic growth: Lowering loan rates for businesses and individuals encourages consumption and investment, thereby boosting domestic demand in the United States.
2. Affecting global markets: A weaker dollar typically benefits commodities priced in dollars (such as gold and crude oil) and non-dollar assets, while potentially attracting international capital into emerging markets.
3. Impact on the Chinese economy: Improvement in external demand, increased capital inflows, and creating room for domestic monetary policy easing, which helps boost exports and stabilize financial markets.

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Wall Street is on high alert for the year-end 'cash crunch,' will the Federal Reserve hint at restarting the 'printing press' this week?
As the end of the year approaches, a new storm in the money market is brewing! One question that Federal Reserve Chair Powell must answer this week is: Does the Federal Reserve need to start the 'printing press'?

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The founder of LUNC, LUNA, and USTC, Do Kwon, reached a plea deal with U.S. prosecutors in August 2025 for charges including telecom fraud and securities fraud, with a statutory maximum sentence of 25 years. The prosecutors requested a 12-year prison sentence, while he applied for only 5 years. The final judgment will be announced by a U.S. federal court on December 11, 2025.

In addition, the South Korean prosecutors' charges against him are still advancing, and he may be extradited back to Korea to continue facing trial after serving his sentence in the U.S.