Sports betting should be regulated as a financial product, not gambling, aspiring prediction market provider says

MIAMI BEACH, Fla. — Sports betting should be regulated as a federal financial product rather than a state-licensed casino product, two panelists said Thursday. Appearing at Consensus Miami 2026, Jacob Fortinsky, co-founder and CEO of sports betting platform Novig, said the legacy sportsbook model is structurally broken because it treats winning bettors as cheaters. “Sports…

On-Chain, In Court: What Happened in Crypto Legal News this Week

Alex Mashinsky will be representing himself as Celsius executive prepares for sentencing On Wednesday, lawyers representing Alex Mashinsky moved to withdraw as attorneys in the case, saying that the former Celsius CEO would be “proceeding pro se” — representing himself in court. Mashinsky was sentenced to 12 years in prison for his role in fraud…

Major Bitcoin Mining Pools Join Stratum V2 Collaborative Organization

Seven major Bitcoin mining pools have joined the Stratum V2 working group to develop an industry-wide open standard protocol used by mining pool operators to communicate with individual miners in their pools. AntPool, Block Inc, F2Pool, Foundry, MARA Foundation, SpiderPool, and DMND all joined the working group to collaborate on the mining pool communication standard,…

CLARITY Can Bring Crypto Industry Back to US: Attorney

Passing the Digital Asset Market Clarity Act of 2025, also known as CLARITY, will help to reshore the crypto industry in the United States, according to Bill Hughes, the senior counsel and director of global regulatory matters at Consensys, a crypto infrastructure company.  “The US dollar is the world’s largest fiat on-ramp for cryptocurrency, accounting…

Trump Media’s Q1 loss widens to $406 million on bitcoin, CRO markdowns

Trump Media & Technology Group (DJT) reported a $405.9 million first-quarter net loss on $871,200 in revenue, widening from $31.7 million a year earlier as unrealized losses on its crypto holdings weighed on results. The parent company of Truth Social booked $244 million in unrealized losses on its cryptocurrency holdings. It also recorded a $108.2…

Strategy CEO Outlines Criteria for Bitcoin Sales

Phong Le, the CEO of Bitcoin treasury company Strategy, outlined conditions during an interview on Friday, under which the company would sell some of its Bitcoin holdings.  The company will sell Bitcoin to pay the dividend on its Series A Perpetual Stretch Preferred Stock (STRC), a corporate credit instrument that pays an 11.5% dividend to…

The Nobitex dilemma: How Iran’s biggest crypto exchange stays off the OFAC blacklist

Iran’s internet formally remained part of global routing, but user activity fell almost to zero. That points to a managed restriction on citizens’ access to the external network. Source: IODA. But in that digital darkness, one vital financial service continued to operate without interruption: Nobitex, a cryptocurrency exchange linked to Iran’s ruling elite. We compiled…

Kraken Parent Company Applies for OCC Charter in Move Toward Banking

Latest NewsPublishedMay 8, 2026 The US banking regulator has already approved similar charter applications for Coinbase, Ripple Labs, BitGo, Circle, Fidelity Digital Assets and Paxos. Payward, the parent company of cryptocurrency exchange Kraken, announced that it had filed an application with the US Office of the Comptroller of the Currency (OCC) for a national trust…

TeraWulf’s AI Revenue Surges 117% but Posts $427M Loss

Bitcoin miner TeraWulf posted a net loss of $427 million in the first quarter of 2026, up from the $61.4 million loss recorded in the same period a year earlier. Total revenue for the quarter came in at $34 million, with high-performance computing (HPC) lease revenue accounting for $21 million, roughly 60% of the total…

Court Lets Arbitrum DAO Transfer $71M in ETH Tied to North Korea Hack to Aave

A Manhattan federal judge has allowed Arbitrum DAO to move $71 million in frozen Ether to Aave, clearing the path for the DeFi protocol’s recovery effort following a North Korea-linked exploit. Judge Margaret Garnett of the Southern District of New York issued the order on Friday, modifying a restraining notice that had locked the assets…