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Malone Lam faces court over $245M Bitcoin theft, largest US crypto heist case under RICO law.

Market News
07 Sep 2026
Crypto Economy
View Source
Bearish
Malone Lam faces court over $245M Bitcoin theft, largest US crypto heist case under RICO law.

Malone Lam, a 22-year-old Singaporean, is set for a plea hearing in Washington D.C. over a $245 million Bitcoin theft from August 2024, the largest crypto-asset theft against a single victim in US history. Prosecutors accuse Lam and 17 others of conspiracy, wire fraud, and money laundering, with stolen funds used for luxury purchases and real estate. Ten co-defendants have pleaded guilty, and Lam could face a minimum 14-year prison sentence. The case marks the first federal RICO Act application against a Bitcoin theft ring and highlights growing legal scrutiny on crypto-related social engineering crimes.

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Applied Digital eyes $1B net income by 2027 amid AI data center expansion, Q1 loss expected.

Applied Digital eyes $1B net income by 2027 amid AI data center expansion, Q1 loss expected.

Applied Digital is set to report a fiscal Q1 loss of $0.30 per share on $116.3 million revenue, reflecting ongoing investments in AI and high-performance data centers. The company has expanded its Polaris Forge 1 campus to 250 MW operational capacity...

Company Fundamentals
Bullish
1 hour ago
Needham raises Vaxcyte price target after strong Phase 3 trial of VAX-31 vaccine

Needham raises Vaxcyte price target after strong Phase 3 trial of VAX-31 vaccine

Investment firm Needham increased its price target for Vaxcyte to $122 from $110 following positive Phase 3 trial results for Vaxcyte's VAX-31 pneumococcal vaccine. The vaccine met all primary endpoints in the OPUS-1 trial, showing noninferiority to ...

Analyst Insights
Bullish
2 hours ago
GMAB's Rina-S shows 45.9% response in ovarian cancer trial, advancing to Phase 3 studies.

GMAB's Rina-S shows 45.9% response in ovarian cancer trial, advancing to Phase 3 studies.

GMAB's investigational drug Rina-S demonstrated a 45.9% confirmed response rate in a Phase 1/2 trial for platinum-resistant ovarian cancer, with a median response duration of 12.1 months and median progression-free survival of 9.5 months. Despite ser...

Market News
Bullish
3 hours ago
Japan Gold Corp. to host live virtual update on Oct 6, showcasing exploration progress in Japan.

Japan Gold Corp. to host live virtual update on Oct 6, showcasing exploration progress in Japan.

Japan Gold Corp., the largest mineral exploration company in Japan, announced a live virtual corporate update on October 6, 2026, hosted by Red Cloud Financial Services. The event will include a presentation and live Q&A session, with a replay availa...

Market News
Neutral
4 hours ago
SPYM ETF charges less than VOO for S&P 500 exposure but tracks multiple indexes historically.

SPYM ETF charges less than VOO for S&P 500 exposure but tracks multiple indexes historically.

The SPDR Portfolio S&P 500 ETF (SPYM) charges a lower fee of 0.02% compared to Vanguard's VOO at 0.03%, making it slightly cheaper for investors seeking S&P 500 exposure. However, SPYM's long-term performance record is based on four different indexes...

Market News
Neutral
4 hours ago
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