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๐Ÿ† CoinPoker Unveils $25M CSOP+ Tournament Series: The Ultimate Poker Extravaganza!

๐Ÿ“Œ Get ready for a poker showdown like no other! From May 5-26, CoinPoker is rolling out the red carpet for the CSOP+ tournament series, promising an eye-popping $25 million in guaranteed prizepools.

๐ŸŒŸ Following the success of CSOP Spring, this upgraded event is a true poker aficionado's dream, featuring a whopping 14-18 daily events spread across three thrilling weeks of non-stop action. And hey, don't forget to take a breather on Fridays!

๐Ÿ“ฃ Mark your calendars for the grand finale on Sunday, May 26, when the CSOP+ main events steal the spotlight. With buy-ins catering to all bankrolls โ€“ from $50 to $5,000 โ€“ there's a seat at the table for everyone. And guess what? High rollers will be vying for a jaw-dropping slice of that $600,000 prizepool!

โฐ But wait, there's more! Leading up to the main event extravaganza, every Sunday is a chance to snag your share of the staggering $500,000 guaranteed in the thrilling 'Tony's PLO High Roller' tournament. With a buy-in of $25k, it's not for the faint-hearted โ€“ but neither are the rewards!
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๐Ÿš€ Tether Boosts Crypto Payments in Eastern Europe with Investment in CityPayio

๐ŸŒ Expanding Horizons: Tether's Eastern European Endeavor

In a bid to strengthen its foothold in Eastern Europe, Tether Operations Limited has announced a fresh injection of funds into CityPayio. This dynamic platform is revolutionizing payments by allowing users to transact with popular cryptocurrencies like Bitcoin at establishments ranging from Wendy's to Radisson Hotels.

๐Ÿข CityPayio: A Growing Network of Crypto Convenience

With over 600 locations already on board in Georgia alone, CityPayio has ambitious plans. Within the next two years, it aims to roll out its own e-wallet and card solutions while setting up an impressive network of 500,000 crypto payment points across the region.

๐Ÿค Ardoino's Optimism: A Partnership for Progress

Paolo Ardoino, the CEO of Tether, is thrilled about this collaboration's potential. He sees it as an opportunity to build on their previous success in Georgia and drive the adoption of innovative technologies that challenge traditional payment systems.

๐Ÿ’ฐ Tether's Strategic Moves: More Than Just Stablecoins

This isn't Tether's first foray into strategic partnerships. The company recently joined forces with Fuze, an infrastructure provider, to advance digital asset education in Turkey and the Middle East. With initiatives like Tether Evo and a recent launch on TON blockchain, Tether is proving that it's not just about stablecoins anymore โ€“ it's about pushing boundaries and shaping a future where technology and human capabilities converge.
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โ€ผ๏ธ White House Taps CFTC Commissioner Johnson for Treasury Role: Financial Regulation in Focus

๐Ÿค The White House is set to nominate Kristin Johnson, a CFTC commissioner, for a key position at the US Treasury Department overseeing banks, reports Bloomberg.

๐Ÿ“ข If confirmed, Johnson will become the Assistant Secretary of the Treasury for Financial Institutions, leading policies on credit unions, insurance, and consumer protection.

๐Ÿค Working closely with the Treasury Secretary, Johnson will also coordinate with federal regulators and banking agencies, including the US SEC.

โžก๏ธ Concerns over potential conflicts of interest have been raised by Congressman Don Meuser, who questions the impartiality of the CFTC as an independent agency.

๐Ÿ‘ However, endorsements from influential figures like Maxine Waters and the Congressional Black Caucus signal optimism for Johnson's confirmation.

๐Ÿ’ผ Johnson's proactive stance as a CFTC commissioner has drawn attention, with her proposals to improve oversight of crypto businesses and address the regulation of AI in financial markets.

๐Ÿ”Ž Her recent focus on AI in decentralized finance (DeFi) highlights emerging challenges for supervision and enforcement in this rapidly evolving sector.

๐ŸŒ To tackle these issues, Johnson suggests creating an inter-agency task force involving regulators like the Federal Reserve and SEC, emphasizing the need for collaboration in navigating this new frontier.
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๐Ÿ“ฃ North Korea's Crypto Money Laundering: $147.5M Cleaned via Tornado Cash

๐Ÿšจ The United Nations sanctions committee has blown the whistle on North Korea's latest financial escapade. $147.5 million in stolen digital currency was reportedly laundered through the crypto platform Tornado Cash, according to a confidential document seen by Reuters.

๐Ÿ’ป Over the past seven years, North Korean hackers have been busy bees, orchestrating 97 cyberattacks on crypto companies worth a staggering $3.6 billion. This year alone, they're suspected of pilfering another $54.7 million in 11 separate heists.

๐Ÿ‘จโ€๐Ÿ’ป Some of these thefts may have been the work of DPRK IT workers who were inadvertently hired by unsuspecting small crypto firms, suggests the report. But one attack that stands out is the audacious $147.5 million snatch from the HTX exchange back in 2023.

๐Ÿ” Blockchain detectives at Elliptic have been hot on the trail, tracing over $100 million of the stolen loot as it swirls through Tornado Cash since March 2024. This Ethereum-based mixer is known for its ability to cloak transactions and keep counterparties under wraps.
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๐Ÿ“ˆ Bank of America Upgrades Coinbase Rating to Neutral, Raises Price Target to $217

๐Ÿš€ Positive Outlook for Coinbase
Bank of America (BAC) has given a thumbs-up to Coinbase (COIN), upgrading its rating from underperform to neutral. The move comes with a raised price target of $217, reflecting the bank's optimism about the future of the popular cryptocurrency exchange.

๐Ÿ“ˆ Market Responds with a Boost
Investors seem to be liking this news, as the COIN price jumped by 2.5% in pre-market trading and is now up by a solid 4.23% for the day.

๐ŸŒ Favorable Factors at Play
Bank of America's decision is based on a few key factors. Analysts, led by Mark McLaughlin, point to the overall positive market conditions that have been driving up trading volumes in the crypto space. They also highlight Coinbase's efforts in managing expenses and diversifying its offerings as potential contributors to improved earnings.

โš ๏ธ Risks on the Radar
While the upgrade is certainly good news, Bank of America analysts are not turning a blind eye to potential risks. One concern is Coinbase's reliance on transaction revenue, which could pose challenges if market conditions change. Moreover, the ongoing legal tussle with the SEC adds regulatory uncertainty into the mix.

๐Ÿ’ผ KBW Joins the Optimistic Camp
It's not just Bank of America that sees potential in Coinbase. Investment banking firm KBW has also raised its price target for COIN, setting it at $230 while maintaining a market performance rating.

๐ŸŸข Regulatory Hurdles Persist
Coinbase's legal battles continue, with Judge Katherine Polk Failla ruling that the SEC's lawsuit against the exchange can proceed. The case revolves around allegations of unregistered securities activity.

๐Ÿ‘‹ Board Shuffle at Coinbase
In other news, Kathryn Haun, a former Assistant U.S. Attorney, has stepped down from Coinbase's board, adding to the company's recent changes.
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๐Ÿ“ฃ Russian Crypto Mining Sector Set to Soar: 20-40% Growth Expected in 2024

โžก๏ธ Powering Up: Russia's crypto mining industry is poised for impressive growth, with insiders predicting a surge of 20-40% in 2024, according to a report by BitRiver, the country's leading player in the field.

โœ… Industrial Boom: The report highlights the doubling of the industrial crypto mining market in 2023, thanks to Russia's advantageous combination of affordable electricity and a lack of stringent regulations.

๐Ÿ”” Bitcoin Dominance: While some debate the exact figures, it's clear that BTC remains the top choice for Russian miners, with BitRiver claiming that over 95% of their computing power is dedicated to mining the flagship cryptocurrency.

๐Ÿ“ง Legal Limbo: Despite its significant presence, the crypto mining sector still operates in a legal gray area. Miners are urging lawmakers to embrace regulation and even welcome taxation if it means gaining official recognition.

๐Ÿ’ก Legal Framework Exists: Legal experts point out that Russian law doesn't explicitly prohibit crypto mining operations. However, critics argue that current legislation lacks substance and international bodies like FATF have taken notice.

๐ŸŒ Nature's Boost: Besides cost-effective energy, Russia's climate is also seen as an advantage for miners. Nikita Vassev from Terracrypto emphasizes that favorable "climatic conditions" contribute to the rapid expansion of the industry.
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๐Ÿšจ Crypto Influencer Ian Balina Found Guilty of Securities Violation! SEC's Case Holds Strong

๐Ÿ’ผ In a landmark ruling, Judge David Alan Ezra has delivered a verdict that has sent shockwaves through the crypto community. Ian Balina, known for his digital currency expertise, has been found guilty of breaching U.S. securities laws.

๐Ÿ” The case centered around Balina's involvement in the SPRK token initial coin offering (ICO). The Securities and Exchange Commission (SEC) argued that these tokens were indeed securities and required proper registration and disclosure.

๐Ÿ“ข The court's decision hinged on Balina's failure to provide adequate disclosure while promoting SPRK tokens on platforms like YouTube and Telegram. Notably, he conveniently omitted his 30% bonus compensation, a clear violation of Section 17(b) of the Securities Act.

๐Ÿ’ฐ Acting as more than just an influencer, Balina went a step further by organizing an investment pool for SPRK tokens. However, he neglected to reveal his financial stake in Sparkster, the company behind the tokens.

๐ŸŒ The SEC's investigation revealed that this ICO managed to raise a staggering $30 million from thousands of investors worldwide between April and July 2018.

๐Ÿ—ฃ Balina's response has been swift, with his website dismissing the charges as "baseless" and emphasizing that no compensation was received. He even suggests being a victim of fraud himself, pointing fingers at the Sparkster team.
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๐Ÿ“ˆ Russian Central Bank Flags Sharp Rise in Crypto-related Activity

๐Ÿš€ Crypto Boom in Russia: Central Bank Takes Notice
The Russian Central Bank is sounding the alarm as it witnesses a significant surge in crypto transactions among its citizens. In its latest financial stability report, the bank sheds light on the growing trend.

๐ŸŒ Web Traffic Soars for Crypto Platforms
From Q4 FY2023 to Q1 FY2024, the regulator reports a whopping 16.4% increase in Russian users flocking to major cryptocurrency platforms. That's a staggering 104.6 million visits!

๐Ÿ“ˆ More Russians Embrace Crypto
Not only are more people visiting these platforms, but the number of unique Russian IP addresses on "major crypto exchanges" has also risen by 15.1%. This translates to 7% of all traffic coming from Russia.

๐Ÿ” Transparent Blockchain: Unmasking Crypto Users
To keep tabs on potential money laundering, the bank employs a nifty tool called Transparent Blockchain. Developed by Rosfinmonitoring, it helps identify the true identities of users across various blockchain networks.

๐Ÿ“Œ Bitcoin and Ethereum Lead the Pack
When it comes to digital assets, Russians still favor heavyweights like Bitcoin and Ethereum. Additionally, they're increasingly turning to stablecoins like USDT and USDC for added stability.

๐Ÿ’ฐ Billions at Play: The Numbers Speak
The report reveals that transactions potentially linked to Russians surpassed a staggering $50.2 billion during this period. This includes not just trades but also P2P payments, remittances, and everyday purchases.
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๐ŸŽฎ Survey Reveals 84% of US Gamers Havenโ€™t Tried Blockchain Games

๐Ÿ” A recent survey found that nearly 80% of gamers in the United States have never heard of or played blockchain video games.

๐Ÿค” According to a poll conducted by Onepollcom, most gamers in the U.S. remain unaware of blockchain games, including their features and potential benefits. 52% have never heard of them, and 32% have heard but haven't tried.

๐ŸŒ The survey, which included 2,000 adult gamers, revealed that while blockchain games offer features like reselling in-game purchases, many gamers have yet to explore these options.

๐ŸŸข In 2023, over 60 games and 11 studios shut down, leaving gamers without compensation for their in-game purchases. Gamers are seeking solutions, which blockchain gaming can provide.

๐Ÿ’ฐ Gamers invest significantly in virtual items, spending an average of $6,425.13 over their lifetime. The average gamer would spend $8.74 per month on in-game resources.

๐Ÿš€ The study was commissioned by game developer Unstoppable Games to highlight the launch of Influence, its new Starknet-based game. CEO Chris Lexmond emphasizes the need to educate gamers about the benefits of blockchain gaming.
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๐Ÿ”’ Trump's Legal Woes: A 17% Chance of Prison Before Election Day, Polymarket Predicts

๐Ÿ“‰ The odds are stacking against former President Donald Trump as a high-profile hush money trial ends with a guilty verdict. According to Polymarket, there's a 17% chance he'll be behind bars before voters cast their ballots in November.

๐Ÿ’ฐ Launched earlier this year, the prediction market will pay out if Trump spends more than 48 hours in prison by November 5. Currently, betting on a "yes" is priced at 18 cents, while a "no" costs 85 cents.

๐Ÿ“ˆ The market's popularity is soaring, with odds of Trump's imprisonment jumping a staggering 57% since the trial concluded. It's a stunning blow for the Republican frontrunner and his crypto-friendly campaign.

๐Ÿ“Œ Judge Juan Merchan will deliver Trump's sentence on July 11, leaving many wondering how severe it will be. Recent courtroom antics, including multiple violations of a gag order, may not bode well for the former president.

๐ŸŒ Meanwhile, Democratic incumbent Joe Biden is capitalizing on the situation, warning voters about the chaos and political violence that could come with another Trump term. Current polls show Biden and Trump locked in a tight race for the White House.

๐Ÿ’ญ As the election drama unfolds, one thing is clear: Trump's legal battles are far from over, and they could have significant implications for his political future and the cryptocurrency landscape he has embraced.
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๐Ÿคฏ MicroStrategy & Michael Saylor Deny Wrongdoing Despite $40M Settlement In Tax Fraud Case โš ๏ธ

The District of Columbia has reached a historic $40 million settlement with billionaire Bitcoin investor Michael Saylor and MicroStrategy, the software company he founded. The settlement has been made over allegations of tax fraud. Moreover, the agreement marks the largest income tax fraud recovery in the districtโ€™s history.

๐Ÿ‘‰ Read more
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๐Ÿš€ Avail Raises $43 Million to Unify Web3 with Secure Rollup Interoperability and Data Availability

๐Ÿ’ฐ Avail, the pioneer in web3 infrastructure, has just closed a $43 million Series A funding round. This significant investment from heavyweights like Founders Fund and DragonFly Capital underscores the growing importance of secure rollup interoperability and data availability.

๐Ÿค The funding will propel Avail's ambitious mission to tackle the challenges of scalable data availability and interoperability in the web3 space. Their cutting-edge technology stack, known as the Unification Layer, aims to seamlessly combine data aggregation, shared security, and modular blockchain scalability.

๐ŸŒ Avail's co-founder, Anurag Arjun, expressed excitement about this milestone, stating that the new capital will enable them to expedite development, expand their global reach, and address critical issues like blockchain fragmentation and limited scaling.

โœ… Looking ahead, Avail plans to forge strategic partnerships within the web3 ecosystem while advancing their Nexus interoperability layer and Fusion Security layer. Joey Krug from Founders Fund lauded Avail's approach, emphasizing how it simplifies protocol creation for teams leveraging their tech stack.

๐Ÿ’ก With a total funding of $75 million, including earlier rounds, Avail is well-positioned to lay a solid foundation for future blockchain projects. Their incentivized testnet "Clash of Nodes" has already showcased impressive numbers, with a mainnet launch on the horizon.
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๐Ÿ“ฃ FTX Creditors File Objection To Bankruptcy Reorganization, Not In Debtorsโ€™ โ€œBest Interestsโ€

๐Ÿ‘Œ FTX creditors have filed a June 5 objection to the crypto exchangeโ€™s repayment plan on the grounds that the FTX bankruptcy estateโ€™s proposal does not work in favor of their โ€œbest interests.โ€ According to the objection, FTX creditors are concerned about a number of items included in the estateโ€™s plan, including the possibility of a โ€œtaxable eventโ€ since each respective investor will be receiving money instead of digital assets.

๐Ÿ’ฌ โ€œIt is painfully apparent that the debtorsโ€™ proposed plan will inflict additional hardships on customers through forced taxation that could be avoided by making an โ€œin kindโ€ distribution,โ€ the filing reads.

โžก๏ธ In addition to tax concerns, creditors widely disagree with the valuation of assets ascribed to their claims under the FTX plan and moreover dispute whether or not customer assets should be distributed by the John J. Ray III-led estate.

๐Ÿ’ฌ โ€œThe clear and unambiguous terms of service, as well as public records, including statements by the debtors, the CFTC, the SEC, guilty pleas by former controllers of the debtors and testimony in Samuel Bankman-Friedโ€™s criminal trial support the unequivocal conclusion that the Debtors seek to distribute stolen digital assets,โ€ the objection states.

๐Ÿ’ฌ โ€œ(The) debtors position is diametrically opposed to the findings โ€“ beyond reasonable doubt โ€“ of SBF criminal case that SBF misappropriated customer funds,โ€ Sunil Kuvari, an FTX creditor and activist alleged in a June 6 X post.
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