PANews reported on March 8 that, according to Hong Kong's TVB News, a mainland businessman reported being illegally detained and extorted, losing cryptocurrency and silver worth over HK$6 million. Police stated that the 25-year-old businessman was at a hotel in Hung Hom yesterday to discuss a silver business deal when he was assaulted by four mainland men. They forced him to provide his cryptocurrency password, after which they transferred US$680,000 worth of cryptocurrency from him. The men then went to his company and retrieved 42 kilograms of silver.
The victim was released early this morning and reported the incident to the police. When the police arrived at the hotel, the four mainland men had already left. The victim sustained injuries to his face, arms, and calves. The case has been classified as unlawful imprisonment and extortion, and the Kowloon City Police District Crime Squad has taken over the investigation.

Powell said the Federal Open Market Committee is weighing interest rates on a meeting-by-meeting basis, with no long-term consensus. US Federal Reserve Chair Jerome Powell said the 19 members of the Federal Open Market Committee (FOMC) remain divided on additional interest rate cuts in 2025.At Wednesday’s press conference after the Fed’s 25-basis-point rate cut, Powell said the central bank is trying to balance its dual mandate of maximum employment and price stability in an unusual environment where the labor market is weakening even as inflation remains elevated. Powell said:Powell said that the “median” FOMC projection from the Federal Reserve’s Summary of Economic Projections (SEP), the Fed’s quarterly outlook for the US economy that informs interest rate decisions, projected interest rates at 3.6% at the end of 2025, 3.4% by the end of 2026, and 3.1% at the end of 2027.Read more
