Drake-Backed Crypto Casino Stake Loses $40M in 'Suspicious Transfers'

AUSTRAC is warning inactive crypto businesses to either voluntarily withdraw their registrations or face cancellation due to the risk of criminal exploitation. The financial watchdog plans to publish cancellations online and establish a public register for legitimate providers.

The U.S. Department of Justice is seeking a 20-year prison sentence for Alex Mashinsky, the founder of Celsius Network, for his involvement in a $7 billion fraud scheme. Prosecutors argued that Mashinsky's deliberate actions caused significant losses and that he refuses to take responsibility for his crimes.

Arizona lawmakers have passed bills SB1025 and SB1373, focusing on state-level government cryptocurrency investments. The bills await Governor Katie Hobbs' approval after passing both chambers without amendments. SB1025 allows up to 10% of public funds to be invested in Bitcoin.

Lawsuits were filed by FTX Trading and the FTX Recovery Trust against NFT Stars and Kurosemi for failing to deliver tokens as per investment agreements. FTX seeks to recover assets and compel the companies to turn over tokens purchased through SAFTs.

Florida State University's study suggests that regular aerobic exercise could mitigate some long-term health risks associated with heavy drinking in young adults. Mice that exercised while consuming alcohol lived as long as non-drinking mice, highlighting the protective effects of physical activity.

Mastercard has partnered with OKX and Nuvei to create an ecosystem for clients to spend stablecoins via their cards and for merchants to accept them. The company aims to provide users with the ability to earn rewards and use stablecoins at 150 million merchant locations.

Tether Gold's market value surpassed $800 million, backed by over 7.7 tons of gold, with XAUT trading at $3,344. Tether released its first attestation for the token, aiming to become the standard tokenized gold product.

Bitcoin's price hovered around $95,000 as investors awaited updates on trade negotiations and the impact of Trump's tariffs on inflation and the economy. Altcoins like Ethereum and Solana experienced slight losses, with the crypto market potentially reacting to upcoming macroeconomic data releases.

Ronin network creator Sky Mavis and Ragnarok: Monster World developer 0x& have ended their collaboration due to what Sky Mavis described as a breach of agreement, with 0x& expanding the game to an additional chain last week. Game asset NFTs will remain tradable on the official Ronin Marketplace, but Sky Mavis said it will offer no further endorsement or promotion of the game.

According to Standard Chartered's analyst, Bitcoin is expected to hit $120,000 this quarter and $200,000 by year-end due to rising yields, whale accumulation, and ETF flows indicating a shift from gold to BTC. The bank predicts a strategic asset reallocation away from U.S. assets driving the next price surge.