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FBI raids home of Polymarket CEO Shayne Coplan

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The FBI has raided the home of Polymarket CEO Shayne Coplan as part of an ongoing investigation into the decentralized prediction market platform. According to reports, federal agents executed the search warrant in connection with allegations that Polymarket violated U.S. gambling laws by facilitating unregistered betting activities through its platform. Polymarket allows users to bet on the outcomes of various events, including political elections and market trends, using cryptocurrency, and has faced increasing scrutiny over its legal standing in the U.S.

Polymarket has been under investigation since at least 2021, with regulators questioning whether the platform’s model crosses the line into illegal gambling. While Polymarket operates as a prediction market, critics argue that the site’s structure, which allows users to wager on future events, mirrors traditional gambling activities that are heavily regulated in the U.S. The raid on Coplan’s residence indicates that the investigation is intensifying, with authorities seeking more information to determine if the platform has been operating in violation of federal law.

This development follows a series of legal challenges faced by Polymarket, including a previous settlement with the Commodity Futures Trading Commission (CFTC) in 2022. In that case, Polymarket agreed to shut down certain markets and pay a fine, while asserting that it did not consider its platform to be a gambling service. However, with the latest FBI raid, it appears the scrutiny on Polymarket is far from over, and the outcome could have significant implications for the future of decentralized finance (DeFi) platforms that operate in a regulatory gray area.

As the investigation unfolds, it could set a precedent for how U.S. authorities handle similar prediction markets and decentralized applications. While Polymarket continues to operate, the situation underscores the growing regulatory pressure on crypto platforms, particularly those dealing with financial transactions and activities that resemble traditional betting and gambling. The future of Polymarket and its CEO will depend on the legal outcomes of these investigations, with potential ramifications for the broader DeFi and cryptocurrency space.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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