News & Events zu The9 Ltd (NCTY)NCTYThe9 Ltd

The9 Appoints George Lai as CEO

The9 announced the appointment of George Lai as CEO, effective July 27. Lai succeeds founder and chairman Jun Zhu, who will continue to serve as executive chairman of the board. Lai joined The9 approximately 18 years ago and has served as CFO since 2008. Wei Ji, senior legal director, will assume interim CFO responsibilities while the company conducts a search for a permanent successor.

Robinhood Shares Rise as SEC Eases Trading Restrictions

Retail brokerages climbed after the SEC signed off on sweeping changes to the pattern‑day‑trader regime, loosening constraints on active small investors. Bitcoin miners meanwhile pushed ahead with sizable equity raises and asset deals to repurpose existing sites as AI‑focused data‑center infrastructure. Stay up on the crypto news that matters with "Crypto Currents," daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.ROBINHOOD EXPANDS RETAIL TRADING MARKET:The SEC's elimination of the $25,000 pattern‑day‑trader minimum has placed Robinhoodat the center of a retail‑trading market expansion, with shares trading higher over the two prior sessions. The overhaul directly broadens the addressable market by opening active intraday trading to retail accounts that previously lacked the capital to meet the old threshold.TERAWULF AND SOLUNA CONTINUE AI PIVOT:, TeraWulfpriced a $900.6M common-stock offering of 47.4M shares at $19, with proceeds earmarked to fund high-performance computing and artificial intelligence data center expansion at its Nautilus campus and to repay a bridge credit facility. The raise is among the largest single equity transactions by a publicly listed infrastructure company. According to, Soluna Holdingscompleted a $16.5M buyout of Spring Lane Capital's 85.4% Class B interest in Project Dorothy 1A, a 100 MW West Texas green data center. The consideration consisted of a $12M promissory note plus cash, clearing the path to pivot compute workloads from mining toward tenants in the artificial intelligence sector.EUROPEAN BANKS FEEL THREATENED BY CRYPTO:According to, RBC Capital analysts warned that HSBCand Deutsche Bankare the most exposed European institutions to disruption if corporates migrate treasury management to crypto-based payment rails. Each derives more than 10% of group revenue from corporate payments, and RBC modeled up to a 7% group revenue hit assuming a meaningful share of wholesale corporate cash management shifts to on-chain settlement.STABLECOIN ISSUERS EXPAND INFRASTRUCTURE REACH:According to, Circle Internet GroupCEO Jeremy Allaire said a yuan-denominated stablecoin could emerge within three to five years as demand for digital-dollar instruments scales, noting USDCcirculation grew 72% year-over-year to $75.3B. According to, Tether participated in a $134M financing round for Stablecoin Development Corporationto back Sky Protocol's infrastructure build-out. Additionally, according to, the stablecoin issuer launched its first direct consumer-facing self-custodial wallet supporting various digital assets and bitcoin.MICRO-CAP FIRMS UPDATE CRYPTO TREASURIES:Cypherpunk Technologies(ZEC-USD), a corporatized privacy-centered token, for approximately $2.15M, lifting its treasury to 303,906 Zcash. The company also announced it will cease using traditional press wire distribution, as they have officially launched their digital asset treasury dashboard in the same vein as Strategy. Mega Matrixrevealed progress on its "dual-engine" strategy across multiple filings, pairing a short-drama streaming business with a digital asset treasury holding stablecoins. The9its FY25 form 20-F and an F-3 shelf registration for future capital raises alongside its mining operations. Bit Originalso revealed the disclosure of a new material agreement.PRICE ACTION:As of time of writing, bitcoinwas trading at$74,401.47, while etherwas trading at$2,328.91,.