The founder of cryptocurrency project Clucoin has pled guilty to wire fraud, admitting to diverting $1.14 million in investor funds for personal use, including gambling. Despite promoting the cryptocurrency for charitable causes, Taylor used his social media influence to attract investments, which he then misappropriated. He faces up to 20 years in prison. Clucoin Founder…
Read more
Zach Bruch, the Founder and CEO of online crypto casino MyPrize, sat down with Cryptonews Podcast’s Matt Zahab for a comprehensive interview. He talked about MyPrize emerging from stealth and already onboarding nearly 100,000 users. Bruch also discussed why online casinos are a perfect vehicle for bringing more people into the crypto space. Moreover, the…
Read more
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Brazil bans the use of cryptocurrency for gambling-related payments, and Worldcoin faces fines for alleged abusive behavior in Buenos Aires. Brazil Passes Rules Banning Cryptocurrency Payments for Gambling Brazil has legalized the use…
Read more
Cryptonews Podcast host Matt Zahab recently sat down for a chat with Matt Duea, co-founder of the popular betting brand Roobet. Duea talked about the natural connection blockchain and crypto have with the gaming and betting worlds, and how he came to co-found Roobet. He explained the difference between Web2 and Web3 gambling, touched upon…
Read more
With the dust settling from Thursday’s upsets, attention shifts to an equally promising lineup of games in the South and Midwest Regions, where teams like Marquette, NC State, Houston, and Duke vie for dominance in their quest for the Final Four. March Madness Delivers Rising Underdogs and Steadfast Favorites Statistically, this tournament has been one…
Read more
In a year where legal wagering on sports shattered previous records, the NCAA men’s and women’s basketball tournaments are the pinnacle of sports betting, with an estimated $2.7 billion expected to be wagered through legal channels. Crypto gambling offers fans the ability to pick their winners with crypto. March Madness Betting Increases, With $2.7 Billion…
Read more
Carl Erik Rinsch reportedly used nearly $11 million of his Netflix show’s budget to gamble with stocks and crypto and made millions on a single Dogecoin bet. The director of Netflix’s sci-fi series Conquest reportedly used $4 million from the show’s budget to bet on Dogecoin (DOGE) and made $27 million in the process. Now…
Read more
Unusually large withdrawals were made from Stake to an account with no previous activity, including $3.9 million in Tether and $9.8 million in Ether. Crypto gambling site Stake experienced $16 million in withdrawals on Sept. 4 in what security platform Cyvers Alerts is calling “suspicious transactions.” The withdrawing account has been labeled “Stake.com Hacker” by…
Read more
Cryptocurrencies hold “no societal benefits,” and should instead be seen as a form of gambling, according to European Central Bank (ECB) board member Fabio Panetta. In a speech held at the Bank for International Settlements (BIS) last week, Panetta argued that cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), fail to serve any meaningful purpose in…
Read more
The volatility and purported lack of intrinsic value of most crypto assets make it particularly risky for consumers, the politicians claimed. The trading of so-called “unbacked cryptoassets” such as Bitcoin (BTC) and Ether (ETH) should be regulated as gambling rather than a financial service, a panel of British lawmakers said in a new report. The…
Read more
