Crypto World
Senate Democrats push ban on prediction market bets tied to war and death
Sen. Adam Schiff (D-CA) has introduced proposed legislation that would ban prediction market contracts tied to terrorism, war, assassination, and death, directly challenging market regulator CFTC’s shift toward looser regulation of event trading.
The bill, dubbed the DEATH BETS Act, would strip the agency of discretion over whether to permit such contracts and write explicit prohibitions into law, putting Schiff on a collision course with CFTC Chair Mike Selig’s deregulatory agenda.
Schiff, a member of the Senate Agriculture Committee that oversees the CFTC, is positioned to press the issue legislatively as the agency’s new rule making takes shape.
Under the Commodity Exchange Act, the CFTC already has authority to block contracts tied to war, terrorism, or assassination if it determines they are contrary to the public interest. But enforcement hinges on the regulator’s judgment, meaning the scope of protection shifts with agency leadership.
Schiff’s bill would eliminate that flexibility. It would prohibit any CFTC-registered exchange from listing contracts that involve, relate to or reference terrorism, assassination, war or an individual’s death. The prohibition extends to contracts that could be “construed as correlating closely” to a person’s death, a notably broad standard.
“Betting on war and death creates an environment in which insiders can profit off of classified information, our national security is jeopardized, and violence is encouraged,” Schiff said in a statement. “There is no justification for gambling on lives, or public benefit to be derived by such a market.”
Rep. Mike Levin (D-CA) will be introducing companion legislation in the U.S. House of Representatives, according to a release from Schiff’s office.
The proposal arrives as the CFTC, under Selig, rewrites its approach to regulating prediction markets.
In February, the agency withdrew a 2024 proposal that would have broadly banned political prediction markets, with Selig criticizing the earlier effort as regulatory overreach.
Key Takeaways
- Hyperscale Data targets $180M–$200M revenue for 2026 through AI and blockchain expansion.
- Complete Ballista integration projected to contribute $40M annually versus $3.2M in Q4 2025.
- Ault Lending division forecast to generate $20M–$30M, enhancing profit margins.
- AI infrastructure and software solutions positioned for scalable revenue growth.
- Multi-segment operations and premium-margin platforms support robust 2026 projections.
Shares of Hyperscale Data, Inc. (GPUS) finished trading at $0.1669, gaining 0.97%, while pre-market activity showed the stock at $0.1715, climbing 2.76%. The firm unveiled fiscal 2026 revenue projections ranging from $180 million to $200 million. These estimates suggest potential year-over-year expansion of 80% to 100% compared to preliminary fiscal 2025 figures.
Hyperscale Data, Inc., GPUS
Preliminary 2025 revenue figures included only partial-year results from Gresham Worldwide, Inc. This entity is merging with Ballista Group, Inc., which recently emerged from bankruptcy proceedings. Management anticipates Ballista will generate $40 million in full-year 2026 revenue, substantially higher than the $3.2 million recorded during Q4 2025.
Revenue acceleration stems from broadening activities across artificial intelligence infrastructure, software solutions, blockchain technology, financial services, and digital platforms. Historical capital deployments in these sectors are now yielding more stable financial returns. Leadership projects these strategic investments will produce between $24 million and $44 million in 2026 revenue.
Multiple Revenue Streams Underpin 2026 Projections
The company’s lending arm, Ault Lending, is forecast to contribute $20 million to $30 million toward 2026 revenue totals. Current quarter expectations include roughly $10 million from this division alone. Ault Lending has delivered strong profitability margins despite variable trading conditions.
The company’s multi-faceted business model enables various revenue channels while preserving strategic capital management. Premium-margin segments are anticipated to boost consolidated profitability. Income from software applications, blockchain initiatives, and digital ecosystems may yield superior margins relative to conventional infrastructure services.
Ongoing capital investment in high-performance computing facilities, AI data centers, and Bitcoin mining infrastructure will continue through 2026. Rising utilization across these assets should enhance fixed-cost efficiency and improve aggregate margin performance. Management expects operational leverage to strengthen as emerging platforms achieve commercial-scale revenue production.
Artificial Intelligence and Digital Platform Development
Hyperscale Data progresses its artificial intelligence infrastructure strategy, featuring Michigan-based AI computing facilities and expanded HPC capabilities. Worldwide demand for AI computational power, enterprise hosting solutions, and inference processing shows sustained upward momentum. AI-driven service offerings are positioned to become major contributors to revenue expansion and margin enhancement.
The organization’s software and digital platform investments are architected for efficient scaling alongside physical infrastructure. Growing platform revenue is expected to bolster profitability through fourth-quarter 2026. Leadership forecasts that higher-margin business segments will create leverage for sustained growth into fiscal 2027.
Hyperscale Data proceeds with Ballista consolidation efforts and subsidiary integration to reinforce financial resilience. Year-round contributions from reorganized business units provide enhanced revenue predictability. The company establishes itself to leverage diversified operational capabilities, scalable infrastructure assets, and maturing digital platforms throughout the 2026 fiscal year.
The Department of Justice is investigating Iran’s use of Binance for alleged sanctions evasion after the exchange repeatedly denied wrongdoing.
The US Department of Justice is reportedly investigating Iran’s use of Binance for alleged sanctions evasion.
The DOJ is investigating whether Iran used Binance to evade US sanctions and whether transactions on the exchange helped route funds to networks linked to Iran-backed groups, including Yemen’s Houthi militants, the Wall Street Journal reported Wednesday, citing company documents and people familiar with the matter.
The WSJ said it remains unclear whether the DOJ is investigating Binance itself, its users, or both. Officials have contacted people with knowledge of the transactions to seek interviews and gather evidence, the report said.
The probe follows earlier reporting that Binance dismantled an internal investigation into roughly $1 billion that flowed through the platform to a network tied to Iranian proxy groups.
The DOJ had not confirmed the investigation at the time of publication. Binance did not immediately respond to Cointelegraph’s request for comment.
Related: CZ says CEXs have ‘zero motive’ to aid terrorists as court dismisses terrorism suit
US Senate Democrats launched a probe in February, and Binance has repeatedly denied any wrongdoing.
Binance pleaded guilty in 2023 to violating US anti-money-laundering and sanctions laws, paying a $4.3 billion fine and agreeing to operate under US oversight.
Former Binance CEO Changpeng “CZ” Zhao pleaded guilty to related charges and spent four months in jail in 2024. In October 2025, CZ received a pardon from US President Donald Trump.
Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026
- XRP may have completed a long correction and formed a market bottom.
- Analysts say the current setup mirrors the pattern before the 2017 rally.
- A Wave-5 breakout could drive XRP toward the $5.85 target.
XRP has spent the past several months moving through a slow and frustrating consolidation phase that many traders now believe may represent the final stage of its correction.
The digital asset is currently trading around $1.38 after a period of mixed performance that has seen short bursts of strength followed by pullbacks.
This kind of sideways movement often appears near the end of a market correction, which is why some analysts are beginning to argue that XRP may already be forming a long-term bottom.
The argument is based on a technical structure that looks strikingly similar to the pattern that developed before XRP’s historic rally in 2017.
Back then, the token spent months drifting through a quiet accumulation phase while the broader market paid little attention to it.
When the breakout finally arrived, the price accelerated rapidly and caught much of the market off guard.
Today, analysts believe the same type of structure may be forming once again.
$XRP‘s pattern setup and breakout process was extremely similar to that 2017 move and with this being, there is potential we see this overall run unfold in an identical manner.
Doing so means that right now is only a temporary pullback before a move well above the $20 mark… pic.twitter.com/1MIriZ4Rqn
— JAVON⚡️MARKS (@JavonTM1) March 7, 2026
Several technical charts show XRP completing a large corrective pattern that has been unfolding for months.
According to this view, the correction appears to have finished its final wave, which often marks the point where a new bullish cycle begins.
If the structure continues to play out as expected, XRP could now be entering the early stage of its next major upward move.
This possibility has renewed interest among traders who remember how quickly XRP moved once momentum returned during the previous cycle.
Analysts point to a potential Wave-5 breakout
Furthermore, a number of market analysts have turned to Elliott Wave theory to explain why they believe XRP may be close to a turning point.
Under this model, markets move through a series of impulsive waves followed by corrective phases that prepare the ground for the next advance.
Some analysts, like Dark Defender, believe XRP has just completed an extended corrective structure that lasted several months.
That correction appears to have formed an ABC pattern, which is often seen near the end of a downward phase.
With that structure now appearing complete, analysts say the market may be entering the final upward wave of the cycle.
This final stage is known as Wave 5 and is typically associated with strong bullish momentum.
One widely discussed projection places the next major price objective near $5.85 if the breakout develops as expected.
Reaching that level would represent a substantial recovery from current prices and would mark one of the strongest rallies XRP has seen in years.
XRP completed the large C Wave with 5 Sub-Waves.
Wave 5 towards the $5.85 level is here.
(N F A)#XRP Bull Run will be facemelting. pic.twitter.com/8yQaJcfLjq— Dark Defender (@DefendDark) March 10, 2026
However, analysts also emphasise that the move will likely unfold in stages rather than in a straight line.
Several resistance zones remain along the path, including levels near $1.88, $2.35, and just above the $3 mark.
Each of these areas could slow the advance as traders take profits and the market absorbs new buying pressure.
Still, clearing those barriers could open the door for a much larger move.
Long-term projections stretch far beyond the first targets
While the $5.85 level has attracted attention in the short term, some analysts believe XRP’s potential upside could extend much further.
A more aggressive interpretation of the current wave structure suggests the asset could eventually climb toward the $8 to $14 range during the next phase of the cycle.
In the most optimistic scenario, the final leg of the rally could even approach the $20 region if market conditions remain supportive.
These projections remain speculative, but they reflect growing confidence that the current structure may be setting up a larger trend reversal.
[PRESS RELEASE – Johannesburg, South Africa, March 11th, 2026]
VALR, the largest crypto exchange in South Africa by trade volume, today announced the launch of its newest Crypto Bundle, the VALR Bitcoin and Gold Bundle (BITGOLD). This bundle provides investors with simplified exposure to both Bitcoin and tokenised gold (XAUT) in a single, balanced product.
Crypto Bundles on VALR are designed to offer diversified exposure to various crypto and real-world assets. They consist of selected assets with allocations that are rebalanced regularly according to the bundle’s methodology. This approach delivers a low-maintenance investment experience, as holdings are automatically adjusted to maintain target weights without requiring active trading from users. Rebalancing occurs monthly for the BITGOLD bundle.
The VALR Bitcoin and Gold Bundle combines Bitcoin’s potential for significant upside with gold’s established role as a safe-haven asset. Bitcoin, often viewed as digital innovation in finance, has shown strong long-term growth despite volatility. Over the past five years, Bitcoin has delivered substantial returns in many periods, though it has experienced sharp corrections, reflecting its asymmetric risk-reward profile amid growing institutional adoption and market maturation.
Gold, in contrast, has a centuries-old reputation for preserving value during times of uncertainty, inflation, and currency debasement. In recent years, gold prices have risen steadily, with notable gains driven by geopolitical tensions and macroeconomic factors. From early 2021 levels around $1,800 per ounce, gold has appreciated significantly, reaching over $5,000 in recent months.
By allocating equally to Bitcoin and tokenised gold, VALR’s BITGOLD bundle seeks to balance these characteristics. This combination allows investors to gain exposure to two assets that have historically performed differently in response to inflation, global uncertainty, and currency challenges.
“Investors increasingly seek ways to hedge against uncertainty while capturing innovation in digital assets,” said VALR’s Co-Founder and CEO, Farzam Ehsani. “The BITGOLD bundle simplifies this by merging Bitcoin’s growth potential with gold’s store of value track record over several millenia. ”
Visit https://www.valr.com/en/crypto-bundles for more details and risk disclosures.
About VALR
Founded in 2018 and headquartered in Johannesburg, VALR is backed by prominent investors including Pantera Capital, Coinbase Ventures, and Fidelity’s F-Prime Capital. Licensed by South Africa’s Financial Sector Conduct Authority (FSCA) and with regulatory approval in Europe, VALR serves over 1.7 million registered users and 1,800 corporate and institutional clients worldwide. The exchange offers a full range of products, including spot trading, margin, perpetual futures, staking, lending, borrowing, OTC services, VALR Invest, Crypto Bundles, and VALR Pay. VALR is committed to building a just financial future that promotes human dignity and global unity. For more information, visit valr.com.
Disclaimer: Trading or investing in crypto assets (including Crypto Bundles) is risky and may result in the loss of capital as the value may fluctuate. VALR (Pty) Ltd is a licensed financial services provider (FSP #53308). Crypto Bundles do not represent securities and should not be misconstrued as collective investment schemes such as mutual funds, ETFs, ETVs or ETNs.
VALR does not guarantee returns or preservation of capital. Past performance is not indicative of future returns. Trading Crypto Bundles involves risks, including potential price deviations from the underlying assets due to market conditions, liquidity or pricing mechanisms. Tracking error may occur due to pricing discrepancies, rebalancing costs (including transactional fees), or changes in constituent asset pricing or behaviour. Bundle composition and weighting may change frequently due to rebalancing. Information provided by VALR regarding Crypto Bundles is for informational purposes only and does not constitute financial, legal, tax, or investment advice and you are solely responsible for evaluating whether Crypto Bundles are suitable for your financial situation, risk tolerance and investment goals. You should conduct your own due diligence and seek independent professional advice where appropriate.
Trading Crypto Bundles is subject to VALR’s Terms of Service. Jurisdictional restrictions apply. Please refer to VALR’s full set of Risk Disclosures.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Crypto World
BTC price stuck under $70,000 as investors play it safe before U.S. inflation report: Crypto Daybook Americas
By Omkar Godbole (All times ET unless indicated otherwise)
Bitcoin slipped back below $70,000 as war in the Middle East and U.S. inflation data due later today keep investors cautious.
The latest failure to build momentum above $70,000 followed reports that Iran was laying mines along the already disrupted Strait of Hormuz, a major global oil chokepoint. Bullish momentum weakened late Tuesday after U.S. Energy Secretary Chris Wright said in a now-deleted social media post that the U.S. escorted an oil tanker through the strait.
As usual, the disappointment quickly spread from bitcoin to the broader crypto market. Major cryptocurrencies such as ether (ETH), solana (SOL), XRP (XRP), and BNB lost 1% or more since midnight UTC, tracking losses in bitcoin. The CoinDesk 20 Index is also down 1% to 1,980 points.
According to Alex Kuptsikevich, chief market analyst at FXPro, traders should closely track the 50-day simple moving average of bitcoin’s price.
“In the short term, the 50-day moving average has proved a formidable resistance level, preventing bulls from swiftly turning the tide in their favor. This indicator often signals the medium-term trend, and a confident break above it would be an important turning point in the coming days,” he said in an email.
Meanwhile, analysts at Bitfinex said the next moves largely depend on oil prices, U.S. government bond yields and Fed policy.
Speaking of the Fed, its members will closely watch the February U.S. consumer price index report due later Wednesday. It is expected to show the inflation rate ticked up to 2.5% year-on-year from January’s 2.4%, according to FactSet. Core inflation, which excludes food and energy, is also seen rising 2.5%.
A higher-than-expected figure, against already resurging war-led inflation fears, could embolden hawks at the Fed and validate expectations of no rate cuts this year. That, in turn, could breed market volatility. Stay alert!
Read more: For analysis of today’s activity in altcoins and derivatives, see Crypto Markets Today
What to Watch
For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead“.
- Crypto
- Macro
- March 11, 7:30 a.m.: U.S. consumer price inflation for February YoY Est. 2.5%; core rate YoY Est. 2.5%
- March 11: OPEC monthly report
- Earnings (Estimates based on FactSet data)
- March 11: Exodus Movement (EXOD), pre-market, $0.14
Token Events
For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead“.
- Governance votes & calls
- Unlock DAO is voting to approve the Unlock Protocol DAO budget for the first and second quarters, totaling $30,768. Voting ends March 11.
- Unlocks
- Token Launches
Conferences
For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead“.
Market Movements
- BTC is down 0.78% from 4 p.m. ET Tuesday at $69,794.05 (24hrs: -1.92%)
- ETH is down 0.83% at $2,022.17 (24hrs: -1.99%)
- CoinDesk 20 is down 0.98% at 1,979.50 (24hrs: -1.79%)
- Ether CESR Composite Staking Rate is down 3 bps at 2.78%
- BTC funding rate is at -0.0027% (-2.9456% annualized) on Binance
- DXY is up 0.24% at 99.04
- Gold futures are down 0.57% at $5,200.00
- Silver futures are down 2.05% at $87.26
- Nikkei 225 closed up 1.43% at 55,025.37
- Hang Seng closed down 0.24% at 25,898.76
- FTSE 100 is down 0.96% at 10,312.17
- Euro Stoxx 50 is down 1.35% at 5,758.30
- DJIA closed on Tuesday unchanged at 47,706.51
- S&P 500 closed down 0.21% at 6,781.48
- Nasdaq Composite closed unchanged at 22,697.10
- S&P/TSX Composite closed up 0.25% at 33,270.70
- S&P 40 Latin America closed down 0.32% at 3,607.58
- U.S. 10-Year Treasury rate is unchanged at 4.14%
- E-mini S&P 500 futures are down 0.23% at 6,771.75
- E-mini Nasdaq-100 futures are down 0.26% at 24,917.25
- E-mini Dow Jones Industrial Average futures are down 0.37% at 47,569.00
Bitcoin Stats
- BTC Dominance: 59.30% (-(0.08%)
- Ether-bitcoin ratio: 0.0291 (-0.07%)
- Hashrate (seven-day moving average): 1,014 EH/s
- Hashprice (spot): $30.31
- Total fees: 2.7 BTC / $189,651
- CME Futures Open Interest: 105,265 BTC
- BTC priced in gold: 13.4 oz.
- BTC vs gold market cap: 4.64%
Technical Analysis
- The chart shows bitcoin’s daily price swings in candlestick format since July last year. It also shows the average price over 50 days.
- Analysts say this 50-day moving average is a crucial level. A break higher could entice more buyers to the market, leading to a stronger rally.
- The outlook remains bearish while prices hover below the average.
Crypto Equities
- Coinbase Global (COIN): closed on Tuesday at $196.52 (–1.64%), –0.94% at $194.68 in pre-market
- Galaxy Digital (GLXY): closed at $21.83 (+1.56%), –0.41% at $21.74
- MARA Holdings (MARA): closed at $8.57 (–1.04%), –0.58% at $8.52
- Riot Platforms (RIOT): closed at $14.64 (–0.41%), –0.48% at $14.57
- Core Scientific (CORZ): closed at $15.46 (+1.98%)
- CleanSpark (CLSK): closed at $9.63 (+0.21%), –0.42% at $9.59
- Exodus Movement (EXOD): closed at $10.93 (+0.92%), unchanged in pre-market
- CoinShares Bitcoin Mining ETF (WGMI): closed at $37.36 (+0.08%)
- Circle Internet Group (CRCL): closed at $118.09 (+5.59%), –1.38% at $116.46
- Bullish (BLSH): closed at $36.73 (+1.86%), –0.90% at $36.40
Crypto Treasury Companies
- Strategy (MSTR): closed at $138.46 (–0.35%), –0.97% at $137.12
- Strive Asset Management (ASST): closed at $8.98 (+5.52%), –0.78% at $8.91
- Sharplink (SBET): closed at $7.39 (–2.76%), –0.27% at $7.37
- Upexi (UPXI): closed at $0.94 (–2.99%), +2.13% at $0.96
- Lite Strategy (LITS): closed at $1.17 (–2.50%)
ETF Flows
Spot BTC ETFs
- Daily net flows: $246.9 million
- Cumulative net flows: $55.76 billion
- Total BTC holdings ~ 1.28 million
Spot ETH ETFs
- Daily net flows: $12.6 million
- Cumulative net flows: $11.62 billion
- Total ETH holdings ~ 5.68 million
Source: Farside Investors
While You Were Sleeping
U.S. federal prosecutors have filed a civil forfeiture action to recover roughly $3.44 million in USDt tied to an online crypto investment scam that targeted victims across several states. The funds were seized in February and March 2025, and authorities are seeking a court’s blessing for permanent forfeiture. The case highlights how fraudsters used calculated manipulation to win trust before steering victims into a fraudulent investment scheme. The investigation, which began in late 2024 after multiple losses, involved residents in Massachusetts, Utah, and South Carolina, among others, underscoring the cross-state reach of crypto-enabled scams and the persistence of enforcement actions in the sector.
Key takeaways
- The civil forfeiture action seeks about $3.44 million in USDt linked to a multi-state investment scam that operated through cryptocurrency wallets.
- The scheme revolved around a fabricated Ethereum investment, supposedly backed by physical gold, and instructed victims to purchase Ether and transfer it to wallets controlled by the perpetrators.
- Funds transferred into those wallets were routed through intermediary addresses, swapped for USDt, and moved to unhosted wallets controlled by the fraudsters.
- The case follows a pattern of trust-building and manipulation used by scammers to induce victims to invest in purported crypto ventures.
- In related enforcement actions, U.S. authorities have recovered USDt in other fraud contexts, including a romance-scam-related recovery in Massachusetts and a larger seizure tied to a “pig-butchering” scheme in North Carolina, while the stablecoin issuer has reported significant seizures tied to illicit activity in recent years.
Tickers mentioned: $ETH, $USDT
Market context: The episode sits within a broader pattern of law-enforcement focus on crypto-enabled fraud, with authorities increasingly tracing on-chain activity to recover illicit funds and coordinate action across jurisdictions. The linked actions reflect ongoing cooperation between prosecutors, financial investigators, and digital-asset tracing firms as investigators pursue complex money trails across wallets and exchanges.
What to watch next (Not financial advice):
- Whether a court grants permanent forfeiture of the USDt tied to the scheme and how the funds will be distributed to victims or used to cover administrative costs.
- Any additional civil or criminal actions against the individuals named in the complaint, including potential charges related to fraud and money laundering.
- Subsequent enforcement actions tied to similar “fake investment” narratives that exploit a trust in crypto assets.
- Updates from the stablecoin ecosystem operators and regulators regarding tracing tools and cooperation with law enforcement.
Sources & verification
- United States Attorney’s Office in Boston — civil forfeiture announcement related to USDt in a multi-state crypto scam.
- Massachusetts romance-scam case linked to USDt recoveries reported by the U.S. Attorney’s Office.
- North Carolina enforcement action involving a large USDt seizure tied to a pig-butchering scheme.
- Tether public disclosures on USDt freezes related to illicit activity over the past three years.
Forfeiture action targets USDt-linked scam tied to gold-backed ETH pitch
The civil forfeiture filing in Massachusetts centers on a scheme in which scammers approached victims through messages designed to look like accidental outreach, using encrypted channels and digital messaging to establish a false sense of legitimacy. Once trust was established, the perpetrators marketed an “exclusive” Ethereum investment opportunity that allegedly carried the backing of physical gold. Victims were instructed to acquire Ether and forward it to wallets controlled by the fraudsters, who then moved the proceeds through a sequence of addresses to obscure the money trail.
According to prosecutors, the Ether sent by victims flowed through intermediary addresses and was converted into USDt before ending up in unhosted wallets controlled by the scammers. The operation relied on a familiar playbook in which fraudsters cultivate a sense of urgency and exclusivity, exploiting the reputation of crypto assets to convince naïve investors to part with their funds. The complaint notes that the manipulation techniques are designed to create trust quickly, enabling victims to overlook red flags and proceed with transfers that appear legitimate at the outset.
In such fraud schemes, scammers obtain funds from victims using manipulative tactics and cultivate a level of trust before steering them into a fraudulent investment.
Investigators traced the activity back to late 2024, when at least four individuals reported losses, including residents in Massachusetts and others in Utah and South Carolina. The pattern aligns with a broader corpus of cases where on-chain activity is used to funnel funds from unsuspecting investors into stages that obscure the final beneficiary wallets. The asset at the center of this case, USDt, was identified as the vehicle for consolidating and moving funds after initial transfers of Ether were completed. The seizure of USDt in February and March 2025, followed by the civil action, underscores the persistent effort by law enforcement to claw back stolen assets and deter future frauds in the crypto space.
The broader enforcement environment has featured other high-profile seizures and recoveries. In one Massachusetts romance-scam, prosecutors sought to recover approximately $327,829 in USDt linked to the fraud, illustrating how fraud schemes frequently cross state lines and involve specialized money-laundering techniques. In North Carolina, authorities seized more than $61 million in USDt tied to a large “pig-butchering” operation that exploited fake investment platforms to defraud victims. The pattern across cases demonstrates the active role of federal and state agencies in tracing and recovering illicit cryptocurrency proceeds, as well as the cooperation with token issuers who can provide granular insight into on-chain flows. Moreover, the stablecoin issuer has publicly stated it has frozen about $4.2 billion in USDt associated with suspected illicit activity over the past three years, a signal of intensifying collaboration with enforcement agencies and financial-tracing firms.
Beyond the immediate forfeiture action, the case signals how prosecutors may pursue similar targets across multiple jurisdictions as crypto crime evolves. The combination of on-chain tracing, wallet clustering, and the ability to identify conversion points — from Ether purchases to USDt settlements — creates a realistic path for asset recovery even when funds traverse several intermediary addresses. The use of USDt, a widely held stablecoin, also elevates the stakes for both criminals and investigators: stablecoins can serve as convenient liquidity vehicles, but they are increasingly subject to oversight and tracing, as well as rapid freezing capabilities when law enforcement highlights illicit use.
For investigators, the Massachusetts case underscores the importance of cross-agency collaboration and the value of public-facing charges that illustrate the mechanics of frauds to the general public. For victims and potential investors, it reinforces the need for due diligence when confronted with “exclusive” investment pitches involving crypto assets and promises of gold-backed guarantees. The incident also provides a practical reminder that even legitimate-seeming projects can be misused by bad actors who exploit the complexity and perceived legitimacy of digital assets to obscure theft.
What to watch next
- The court’s ruling on the permanent forfeiture of the USDt tied to the scheme and the disposition of forfeited assets.
- Any follow-on charges or civil actions against the individuals named in the complaint and any new indictments stemming from the same ring.
- Potential additional recoveries tied to similar “fake investment” narratives and broader trends in crypto-tracing capabilities.
- Regulatory and industry responses to enforcement actions, including updates to anti-fraud measures and enhanced due-diligence standards for crypto investment communications.
Why it matters
This case illustrates how on-chain tools and traditional investigative methods converge to dismantle crypto-enabled fraud. It shows that law-enforcement agencies are increasingly capable of tracing funds across multiple wallets and converting assets during the investigation, even as criminals attempt to conceal their tracks through intermediary addresses and currency swaps. For investors, the episode reinforces the need to scrutinize claims of guaranteed returns, especially those tied to crypto assets and claims of external guarantees like physical-gold backing. For exchanges and wallets, the ongoing enforcement environment emphasizes the urgency of implementing robust identity checks, monitor-uplift protocols, and rapid cooperation with authorities when suspicious patterns emerge.
Overall, the action in Massachusetts sits within a wider ecosystem of investigations and seizures that aim to deter crypto fraud and reinforce accountability for asset flows in a rapidly evolving market. While the case does not define the entire crypto landscape, it contributes to a growing body of precedent demonstrating that illicit proceeds can be traced, frozen, and returned to victims even as fraudsters attempt to exploit the anonymity and speed of digital currencies.
Congress just put prediction markets like Polymarket US and Kalshi directly in its crosshairs, and the market is spooked. House Democrats introduced the ‘Banning Games on Deaths and Elections Act’ this week.
It is a bill that would explicitly prohibit event contracts tied to elections, war, and death on platforms including Polymarket and Kalshi. The legislation arrives as scrutiny of insider trading on these platforms has reached a breaking point.
JUST IN: — SwanDesk (@SwanDesk) March 11, 2026
U.S. lawmakers introduced the “DEATH BETS Act” to ban prediction markets that let traders bet on war, assassinations, or people dying. pic.twitter.com/UPyvHU5HQw
Separately, Sen. Adam Schiff and Rep. Mike Levin unveiled the DEATH BETS Act, a companion push targeting the same contract categories under the Commodity Exchange Act.
Rep. Jamie Raskin, leading the House effort, called election gambling contracts a direct threat to democratic integrity. This news comes as Bitcoin USD fell -1.8% overnight, losing $70,000 in the process, and is currently trading at $69,500.
What is the DEATH BETS Act, and What Does it mean for the Likes of Polymarket and Kalshi?
Both bills address the ambiguity in the Commodity Exchange Act regarding event contracts, particularly those related to assassinations, military strikes, or election outcomes. They aim to explicitly prohibit such contracts.
The Banning Games on Deaths and Elections Act would amend the Act to categorize contracts involving these events as “contrary to the public interest,” a standard the CFTC uses to block listings.
Currently, there is no solid legislative foundation for this definition, which allowed Kalshi to successfully challenge the CFTC in court last year.
The DEATH BETS Act goes further, targeting any CFTC-registered exchange that handles contracts related to terrorism, assassination, war, or individual deaths. A reported half-billion dollars was bet on the timing of US military strikes on Iran.
Research indicates insiders profited significantly from these bets, including one trader who earned $553,000 from a contract tied to the assassination of Iranian Supreme Leader Khamenei.
EXPLORE: Best Crypto Presales to Buy in 2026
What This Means for Polymarket US and Kalshi
Kalshi and Polymarket approached the Iran contracts differently: Kalshi voided its Supreme Leader contract due to a technicality in the language, while Polymarket settled the bet, leading to $679M in conflicting market results and regulatory scrutiny.
Kalshi won a legal battle allowing it to resume US election betting, but the proposed Banning Games on Deaths and Elections Act could quickly reverse that decision.
Meanwhile, Polymarket continues to dominate global prediction market volume, with over $3.6Bn in bets during the 2024 presidential cycle alone, but may now face increased pressure from the CFTC and SEC if the bill progresses.
What Traders Are Watching Next in the Prediction Markets Space
The political landscape for the DEATH BETS Act is complicated. Representative Raskin and the sponsors face resistance from a crypto-friendly faction in a divided Congress, with no cross-party support and no scheduled committee votes.
Meanwhile, the CFTC aims to expand the use of prediction markets through Cboe’s partial-payout framework. Economist Alex Tabarrok argues that limiting these markets hinders information aggregation, likening event contracts to insurance products.
If either bill passes the committee, the CFTC could immediately delist war and death contracts. If both bills stall, the agency will continue under its ambiguous mandate, allowing platforms like Kalshi and Polymarket US to operate. The focus now remains on the DEATH BETS Act text and committee timeline.
DISCOVER: Next Crypto to Explode in 2026
The post Democrats Introduce Bill to Ban Polymarket US Prediction Market Contracts appeared first on Cryptonews.
- Internet Computer price jumped 12% to near $3 during Asian trading hours.
- The ICP token hit the intraday highs amid news of listing support by Upbit.
- If ICP breaks above $3, it could retest highs of $4.55.
The Internet Computer Protocol (ICP) token rose sharply early Wednesday, trading to $2.94 amid a two-fold spike in daily trading volume.
While the uptick comes amid a slight resurgence in broader cryptocurrency market volatility, what else might have catalysed ICP’s gains?
As of writing on March 11, 2026, the token’s price hovered around $2.76, and the key question is whether bulls can extend the upward move.
Why did the ICP price spike?
The gains for the Internet Computer token mirror those of the Artificial Superintelligence Alliance and Render tokens, both of which traded higher amid fresh AI sentiment.
Bitcoin’s tick up to near $71k also looks to have buoyed altcoins.
However, one specific reason the ICP price is up today could be news that Upbit, South Korea’s largest crypto exchange, will list ICP for spot trading.
The announcement on Mar 11 revealed pairs against the Korean won (KRW), Bitcoin (BTC), and Tether (USDT).
As with other such listings, Upbit’s move could open ICP to millions of new users.
Notably, support on Upbit significantly enhances liquidity and trading volume for ICP, with the exchange boasting a dominant market share in one of the world’s most active crypto regions.
The Internet Computer Protocol aims to provide native cloud computing capabilities that could replace traditional cloud services and IT infrastructure, positioning ICP as a foundational blockchain for Web3 applications.
Analysts anticipate this listing will catalyze further adoption, particularly as South Korean retail investors flock to innovative layer-1 projects amid rising interest in AI and decentralized tech.
ICP price analysis
ICP’s climb to near $2.90 follows a period of consolidation that saw prices fluctuate between $2.30 and $2.60.
The sharp rise on Wednesday allowed buyers to breach the resistance, with data indicating bulls did it on elevated trading volumes. Could ICP prices go higher?
From a technical perspective, the daily chart paints a potential short-term bullish picture.
The daily RSI has gained but is still below the overbought territory, while the MACD is signalling upside momentum with an expanding histogram.
Bulls have also pushed above the 50-day moving average (currently at $2.60).
If upside momentum holds, a breach and successful retest of $3.00 could pave the way for gains to the 200-day moving average at $3.73.
A key support-turned-resistance zone hovers around $4.55.
However, market sentiment remains cautious as the Fear & Greed Index metric lingers in the “fear” territory.
As such, the positive trajectory for ICP holders could yet flip negative.
If prices fall below $2.50, the immediate demand reload zones could be $2.35 and then $2.20.
Crypto World
OpenAI to Integrate Sora Video Generation into ChatGPT Following Standalone App Struggles
TLDR
- OpenAI intends to integrate Sora AI video generation directly into ChatGPT, according to The Information’s sources
- The standalone Sora mobile application debuted in September 2025 with a TikTok-inspired interface
- January 2026 saw installation numbers plummet 45% compared to the previous month, based on Appfigures analytics
- By early 2026, Sora had disappeared from Apple’s top 100 applications in the U.S. App Store
- Even a collaboration with Disney couldn’t reverse declining user engagement
According to sources familiar with the situation, OpenAI is developing plans to incorporate its Sora AI video generation technology directly into ChatGPT. The Information broke this story on March 11, 2026, citing insiders with direct knowledge of the initiative.
OpenAI is planning to bring its AI video generator Sora directly into ChatGPT, allowing users to create and share AI-generated videos from simple prompts. The company is also expected to continue running Sora as a standalone app.
Source: Reuters pic.twitter.com/ff402CtMab
— Tech Crypto Cricket Hub (@Anurag9793) March 11, 2026
Official confirmation from OpenAI remains pending. The company failed to provide a statement when contacted during non-business hours.
Initially, Sora debuted as an independent mobile application in September 2025. The platform enabled users to produce and distribute AI-created video content through an interface that closely resembled TikTok’s design.
Users could input text descriptions to generate corresponding videos. The platform also permitted creation of content based on copyrighted intellectual property, which users could then post to social media-inspired feeds within the application.
While the launch generated initial buzz, the application encountered significant challenges entering 2026. Both installation rates and revenue from users experienced dramatic declines.
TechCrunch reported in January 2026, citing Appfigures analytics, that Sora experienced a 45% month-over-month decrease in installations during January. Revenue from users simultaneously declined.
The application slipped out of the top 100 rankings on Apple’s U.S. App Store. Google’s Play Store reflected similarly disappointing performance metrics.
OpenAI had established an agreement with Walt Disney to enable video generation featuring Disney intellectual property within Sora. However, this high-profile partnership failed to generate sustained user growth.
ChatGPT Integration Strategy
Incorporating Sora directly into ChatGPT would provide the video generation technology with exposure to a substantially larger audience. With hundreds of millions of active users, ChatGPT’s reach dwarfs the user base Sora achieved independently.
According to The Information’s reporting, OpenAI intends to maintain the standalone Sora application even after completing the ChatGPT integration. Specific timing for the rollout has not been disclosed.
Integrating video generation capabilities into ChatGPT will likely increase OpenAI’s infrastructure expenses. Video-based AI models require significantly more computational resources than text-focused applications.
The AI Video Generation Landscape
Sora faces competition from video generation platforms developed by Meta and Alphabet’s Google. Both technology giants have committed substantial resources to advancing text-to-video artificial intelligence capabilities.
This decision to embed Sora within ChatGPT represents part of OpenAI’s larger initiative to move beyond text-only functionality. Industry observers view multimodal platforms capable of processing video, images, and audio as the inevitable evolution of AI applications.
Microsoft maintains a significant investment position in OpenAI and has incorporated OpenAI’s technologies throughout its product ecosystem, including Bing search and Microsoft 365 productivity software.
OpenAI’s current approach suggests a strategic emphasis on unifying its various offerings under the ChatGPT umbrella, which continues to be the company’s most successful and widely adopted platform.
Oracle (ORCL) shares jumped 11% in premarket trading on Wednesday after the company delivered stronger than expected results and pushed back against fears of a looming “SaaS apocalypse,” easing investor concerns about both AI disruption and its recent debt raise.
Revenue climbed 18% to $17.19 billion, beating the $16.92 billion analysts, according to Wall Street Journal. Cloud revenue rose 41%, while cloud infrastructure sales increased by 81%, highlighting strong demand tied to artificial intelligence.
Management used the earnings call to directly address concerns that generative AI could undermine traditional software vendors. Executives argued the opposite, saying customers want AI embedded directly into mission critical systems rather than replacing them with standalone tools.
The results also helped calm worries about Oracle’s balance sheet after the company said it planned to raise up to $50 billion in debt and equity to fund AI infrastructure. Oracle said $30 billion has already been raised through investment-grade bonds and mandatory convertible preferred stock, with demand heavily oversubscribed.
Oracle’s gains also lifted the iShares Expanded Tech-Software Sector ETF (IGV) about 1% in premarket trading, where Oracle is the fourth-largest holding. The move contrasted with bitcoin, which is down roughly 0.5% ahead of U.S. CPI data, suggesting the tight correlation between software stocks and bitcoin may be easing.
Earlier this year the two had moved closely together. IGV fell about 34% from its October high, a decline that coincided with bitcoin’s roughly 50% correction as both software stocks and crypto sold off in tandem.
Four Grade 1 races on Ladies Day at Cheltenham
Apple A18 Pro vs M1: How do the chips compare?
G7 welcomes potential record release of oil reserves in bid to curb soaring prices
![CAUTION: The Stage Is Set For Another Bitcoin Trap! [Probably Today]](https://wordupnews.com/wp-content/uploads/2026/03/1773230529_maxresdefault-80x80.jpg)
-
Business5 days ago
Form 8K Entergy Mississippi LLC For: 6 March
-
Tech6 days agoBitwarden adds support for passkey login on Windows 11
-
News Videos2 days ago10th Algebra | Financial Planning | Question Bank Solution | Board Exam 2026
-
Fashion5 days agoWeekend Open Thread: Ann Taylor
-
Crypto World2 days agoParadigm, a16z, Winklevoss Capital, Balaji Srinivasan among investors in ZODL
-
Tech5 hours agoA 1,300-Pound NASA Spacecraft To Re-Enter Earth’s Atmosphere
-
Sports6 days ago499 runs and 34 sixes later, India beat England to enter T20 World Cup final | Cricket News
-
Politics5 days agoTop Mamdani aide takes progressive project to the UK
-
Sports4 days agoThree share 2-shot lead entering final round in Hong Kong
-
Sports3 days agoBraveheart Lakshya downs Lai in epic battle to enter All England Open final | Other Sports News
-
Business20 hours agoExxonMobil seeks to move corporate registration from New Jersey to Texas
-
NewsBeat6 days agoPiccadilly Circus just unveiled ‘London’s newest tourist attraction’ and it only costs 80p to enter
-
Entertainment4 days agoHailey Bieber Poses For Sexy Selfies In New Luscious Lip Thirst Traps
-
Business3 days agoSearch for Nancy Guthrie Enters 37th Day as FBI Probes Wi-Fi Jammer Theory
-
Business4 hours agoSearch Enters Sixth Week With New Leads in Tucson Abduction Case
-
NewsBeat1 day agoPagazzi Lighting enters administration as 70 jobs lost and 11 stores close across Scotland
-
Tech2 days agoDespite challenges, Ireland sixth in EU for board gender diversity
-
Entertainment6 days ago
Harry Styles Has ‘Struggled’ to Discuss Liam Payne’s Death
-
Crypto World7 days agoNew Crypto Mutuum Finance (MUTM) Reports V1 Protocol Progress as Roadmap Enters Phase 3
-
Tech6 days agoACIP To Discuss COVID ‘Vaccine Injuries’ Next Month, Despite That Not Being In Its Purview