China is clamping down on rich citizens moving their wealth out of the country, a warning shot to its entire billionaire class that the state comes first.

• Beijing hit brokerage Futu with a $271 million fine for helping mainland Chinese move money abroad without a license, and the stock crashed 30% in a day.
• The founder, who modeled the firm on Charles Schwab, saw his fortune shrink and got personally fined too.
• China is forcing citizens to invest through licensed platforms, keep profits in its own currency, and stop buying into US tech and AI stocks.
• The message: no billionaire gets to build private wealth or ship money offshore beyond the government's reach.
• The flip side at home — Trump's crypto venture took $100 million from a UK businessman with a money-laundering probe and failed businesses in his past, one of many murky deals funneling cash to the president.

Outlook: China will keep tightening controls to trap money at home and push talent into tech, while US crypto and property deals tied to Trump's family stay under scrutiny for who is really paying.