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10 Jan 2024 — 4 min read

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U.S. Sailor Spied for China:

A U.S. Navy sailor, Petty Officer Wenheng Thomas Zhao, 26, has been sentenced to 27 months in prison for accepting approximately $15,000 in bribes from a Chinese intelligence officer. In return for the money, Zhao provided photos of unclassified but sensitive U.S. military information. He pleaded guilty to charges of conspiracy and receiving a bribe last October.
Along with the prison sentence, Zhao, who worked at Naval Base Ventura County in California, has been fined $5,500, as stated by the U.S. Justice Department. Zhao admitted to sending information to a Chinese handler, including plans for U.S. military exercises in the Indo-Pacific region, operational orders, and technical details of a radar system located at a U.S. military base in Okinawa, Japan.
The FBI emphasized Zhao's actions as a betrayal of his oath to the United States, highlighting the ongoing efforts to counter espionage activities by China's intelligence services. The case emerges amidst broader accusations by the United States against China for extensive espionage and cyberattacks, which Beijing denies. The Chinese Foreign Ministry claimed unawareness of Zhao's case specifics but pointed out the U.S.'s own acknowledged espionage activities against China.

Bitcoin ETF’s:

Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), took to X to announce that the SEC's X account had been compromised. This statement came after a deceptive tweet from the SEC's account falsely claimed the approval of the first Bitcoin exchange-traded funds (ETFs). Gensler clarified that this tweet was unauthorized, and as of now, no Bitcoin ETFs have been approved for trading.
The post inaccurately stated that the SEC had approved Bitcoin ETFs for listing on all registered national securities exchanges, misleadingly suggesting that significant progress had been made in the integration of cryptocurrency into mainstream financial markets. A Bitcoin ETF is a fund that would allow investors to invest in Bitcoin through the stock market, without directly buying and holding the cryptocurrency.
For a Bitcoin ETF to be approved, it must meet the SEC's regulatory standards, ensuring investor protection and market integrity. However, the approval process is stringent and involves rigorous reviews to assess the ETFs' compliance with federal securities laws. As of now, these Bitcoin ETFs are still pending approval, awaiting a decision from the SEC.

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