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$PENG is a cute little penguin born on the Solana blockchain. People think he looks like PEPE the frog, however he is just a penguin.
Fu Peng: BTC perpetual contracts usher in the “rental asset” era; the commodity ETF logic applies equally to Bitcoin.
Fu Peng, Chief Economist of Xinhuo Group, posted on X stating that commodity ETFs are essentially regulatory-compliant products packaging the business model of “holding commodities long-term and generating rental income continuously.” Fund companies focus not on the commodity market’s outlook but rather on the asset’s ability to generate “rent” consistently. Since BitMEX launched the world’s first BTC perpetual contract and introduced the funding rate mechanism on May 13, 2016, long-term BTC holders have been able to earn rental income through hedging operations—transforming BTC from a pure faith-based speculative asset into a “rental asset” with stable positive cash flow logic. The costs paid by retail participants when trading derivatives constitute the foundation for large-position holders’ risk-free hedging rental income. This income is then packaged into ETF-like products sold to liquidity providers (LPs), whose raised capital is subsequently used to purchase Bitcoin—creating a virtuous cycle that reduces volatility and reinforces BTC’s income-generating attributes.
Citadel Securities President States: Company May Enter Prediction Markets, Focusing on Geopolitical Hedging Rather Than Sports Events
According to The Block, Jim Esposito, President of Citadel Securities, stated on Thursday at the Semafor World Economic Forum in Washington, D.C., that the firm is “fully capable” of providing liquidity to prediction markets—but explicitly expressed no interest in sports-event contracts. Instead, he emphasized the value of prediction markets for hedging geopolitical risks, citing the U.S. midterm elections this November as “one of the greatest risks facing investors’ portfolios.” Esposito noted that as platforms like Kalshi and Polymarket continue to grow rapidly, the prediction market is poised for sustained expansion—naturally drawing Citadel Securities into the space. Notably, Zhao Peng, CEO of Citadel Securities, participated last year in Kalshi’s $185 million funding round.
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Fu Peng: AI Capital Expenditures by Major Firms Like Alibaba and Tencent Disrupt the High Free Cash Flow and Stable Buyback Dividend Structure
Odaily News, Fu Peng, Chief Economist of Xinhuo Group, stated on X platform that Tencent's latest free cash flow has turned negative. The substantial increase in AI capital expenditures by Alibaba, Tencent, and Silicon Valley giants such as Meta and Google has disrupted the previous "high free cash flow with stable buybacks and dividends" structure. Over the past period, the market has been optimistic about AI, believing that such large capital expenditures represent a long-term competitive advantage in the future.He stated that starting from the second quarter of this year, the market's tolerance for the mismatch between investment and returns has declined, and sentiment has become more cautious. Currently, the revenue generated at the application level is still in a validation phase compared to cumulative investments reaching hundreds of billions, and the high capital expenditures need to correspond with quantifiable long-term return expectations. The coming quarters will be a critical window period, as investor sentiment has shifted from the positivity seen in previous years to caution. Only by seeing truly quantifiable and certain revenue growth can investor doubts be dispelled. The same scale of capital expenditures may lead to different outcomes under varying investor sentiment.
Bitget Stock Perpetual Contracts List SHAZ, SOFI, PENG
Odaily Odaily reports, according to official announcements, Bitget has listed three stock perpetual contracts: SHAZ (SharonAI), SOFI (SoFi Technologies), and PENG (Penguin Solutions).These contracts are settled in USDT, support up to 20x leverage, and offer 7×24 trading. As of now, Bitget stock contracts support a total of 246 underlying assets.
Caixin: Peng Jing, Partner at a Chongqing Law Firm, Goes Missing; Possibly Linked to Money Laundering Case Involving 30.8 Million USDT and Mayor Hu Henghua
According to Caixin, multiple independent sources confirmed to Caixin that the founding partner and director of a Chongqing-based law firm was recently taken away by relevant authorities. The lawyer in question is Peng Jing, founding partner and director of Chongqing Jing Sheng Law Firm. It is speculated externally that she is intricately linked to the aforementioned high-ranking officials who have fallen from grace. According to analysis by insiders, lawyers are typically not taken into custody by the Central Commission for Discipline Inspection (CCDI); “Peng Jing’s network is exceptionally extensive, and her case implicates numerous individuals.” On March 20, 2026, Hu Henghua, Mayor of Chongqing, was announced to be under investigation; on April 17, Luo Lin, member of the Chongqing Municipal Party Committee Standing Committee and Secretary of the Liangjiang New Area Party Working Committee, was also publicly announced to be under investigation. According to information circulating among Chongqing’s political and business circles, Hu Henghua and Luo Lin’s downfalls are related to accepting bribes and money laundering via stablecoins—and “Peng Jing may be a key figure in this scheme, laundering money under the guise of collecting legal fees.” According to insiders, in Hu Henghua’s case, Lin Xiucheng’s son-in-law Lin Kechuang transferred 30.8 million USDT (approximately RMB 210 million, including RMB 10 million in exchange fees) to Hu Henghua. After Hu Henghua was placed under investigation, his cold wallet was seized, and authorities subsequently traced the fund flows from six additional cold wallets held by Lin Kechuang. One such transfer—15.5 million USDT sent simultaneously with Hu Henghua’s transaction—was reportedly transferred to Luo Lin, according to Lin Kechuang. Luo Lin was taken into custody by relevant authorities on April 14, 2026, and his residence was searched on the evening of April 15—but the cold wallet was not found. Later, authorities located Luo Lin’s cold wallet at a third party’s residence.
Fu Peng: BTC perpetual contracts usher in the “rental asset” era; the commodity ETF logic applies equally to Bitcoin.
Fu Peng, Chief Economist of Xinhuo Group, posted on X stating that commodity ETFs are essentially regulatory-compliant products packaging the business model of “holding commodities long-term and generating rental income continuously.” Fund companies focus not on the commodity market’s outlook but rather on the asset’s ability to generate “rent” consistently. Since BitMEX launched the world’s first BTC perpetual contract and introduced the funding rate mechanism on May 13, 2016, long-term BTC holders have been able to earn rental income through hedging operations—transforming BTC from a pure faith-based speculative asset into a “rental asset” with stable positive cash flow logic. The costs paid by retail participants when trading derivatives constitute the foundation for large-position holders’ risk-free hedging rental income. This income is then packaged into ETF-like products sold to liquidity providers (LPs), whose raised capital is subsequently used to purchase Bitcoin—creating a virtuous cycle that reduces volatility and reinforces BTC’s income-generating attributes.
Fu Peng: Traditional financial institutions will accelerate their entry into the crypto market, and stablecoin payments and Bitcoin financialization will usher in a new chapter.
Fu Peng, Chief Economist of Xinhuo Group, delivered a speech at the 2026 Hong Kong Institutional Digital Wealth Management Summit. He stated that the integration of traditional financial institutions with the crypto asset market will herald a new era for the market—and those truly poised to shape the future are the participants who swiftly transform themselves at critical inflection points. Citing the concurrent rise of the Cold War, the oil crisis, and breakthroughs in computing and semiconductor technologies during the 1970s and 1980s, Fu Peng pointed out that technological advancement and global systemic turbulence often unfold in parallel—risk and opportunity have always coexisted. He believes that AI and data computing power are now widely recognized as the core productive forces of the next era, signaling that the “first half” of the crypto industry has essentially concluded, and the sector is now entering a pivotal phase of restructuring and rebirth. Looking ahead, Fu Peng forecasts that stablecoins will assume payment functions, while Bitcoin will evolve into a core asset combining both value storage and financialized trading attributes—ushering in an entirely new chapter of the industry.
Fu Peng Joins Hong Kong Listed Company New Huo Group as Chief Economist
Odaily News: Fu Peng, former Chief Economist of Northeast Securities, has recently officially joined Hong Kong-listed company New Huo Group as its Chief Economist. New Huo Group has confirmed the news.