Business Brief (Feb. 27): China Report Says U.S. Netted Nearly $20 Billion From Chen Zhi, Changpeng Zhao Crypto Cases

Published: Feb. 27, 2026 11:37 a.m. GMT+8

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Report Alleges U.S. Crypto Seizures

A report released by China’s National Computer Virus Emergency Response Center and other agencies alleges that the U.S. has used technological dominance to seize global virtual currency assets. The report claims the U.S. confiscated over $30 billion in crypto assets between 2022 and 2025, netting nearly $20 billion from cases involving Chen Zhi and Changpeng Zhao alone.

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A Chinese report alleges the U.S. seized over $30 billion in global crypto assets from 2022–2025, with $20 billion tied to Chen Zhi and Changpeng Zhao.
Chinese AI model weekly usage hit 5.16 trillion tokens, surpassing US models (2.7 trillion), with four of the top five models from China.
Smartphone makers plan price hikes due to an 80% rise in storage chip costs; Nankai University announced a lithium battery breakthrough doubling energy density.

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Who’s Who

Xiaomi Corp.: Xiaomi Corp. is among the major smartphone manufacturers planning to raise product prices in early March. This adjustment is in response to a significant increase in procurement costs for storage chips, which have risen by over 80% year-on-year, with no sign of easing cost pressures.

Honor Device Co. Ltd.: Honor Device Co. Ltd. is a major smartphone manufacturer planning to raise product prices in early March. This adjustment, alongside other brands like Oppo, Vivo, and Xiaomi, is due to significant increases in procurement costs for storage chips, which have risen over 80% year-on-year.

XPeng Inc.: XPeng Inc. announced that its humanoid robot base has been established in Guangzhou. The company's Chairman, He Xiaopeng, has set a goal for mass production of these robots by the end of 2026.

JPMorgan Chase & Co.: JPMorgan Chase & Co. has revised its long-term gold price forecast, increasing it to $4,500 per ounce. Furthermore, the company anticipates gold prices will reach $6,300 per ounce by the close of 2026.

OpenRouter: OpenRouter is a global AI model API aggregation platform. According to their data, Chinese AI models have surpassed U.S. models in weekly usage. From February 16-22, weekly usage of Chinese models was 5.16 trillion tokens, while U.S. models saw 2.7 trillion tokens.

MiniMax: MiniMax is a Chinese vendor that develops AI models. Its M2.5 model is one of the top five most used AI models globally, demonstrating the increasing prominence of Chinese AI technology. In February 2024, Chinese AI models, including MiniMax's, surpassed U.S. models in weekly usage.

Moonshot AI: Moonshot AI's Kimi K2.5 is a Chinese AI model that has contributed to a notable surge in the weekly usage of Chinese AI models. This platform's usage surpassed U.S. models between February 16-22, 2025, with Chinese models reaching 5.16 trillion tokens compared to the U.S.'s 2.7 trillion. Kimi K2.5 is one of four Chinese models among the top five most used on OpenRouter.

Zhipu AI: Zhipu AI is a Chinese AI vendor and its model, GLM-5, is one of the top five models on the OpenRouter platform. Chinese AI models, including Zhipu AI's, have surpassed U.S. models in weekly usage, with Zhipu AI contributing to this growing dominance in the AI landscape.

DeepSeek: DeepSeek is a Chinese AI model featured in OpenRouter's top five global models. Its V3.2 version contributed to Chinese AI models surpassing US usage, with Chinese models reaching 5.16 trillion tokens compared to 2.7 trillion for US models between February 16-22.

Oppo: Oppo, a major smartphone manufacturer, is planning to increase product prices in early March. This adjustment is due to significant increases in procurement costs for storage chips, which have risen over 80% year-on-year, with no relief in cost pressures.

Vivo: Vivo, a major smartphone manufacturer, is planning to increase its product prices in early March. This adjustment is due to significant increases in procurement costs for storage chips, which have risen by over 80% year-on-year.

iQOO: iQOO is a smartphone manufacturer that, along with other major brands like Oppo, Vivo, Xiaomi Corp., and Honor Device Co. Ltd., is planning to increase its product prices in early March. This adjustment is due to an over 80% year-on-year rise in procurement costs for storage chips.

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