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Atai Life Sciences Shifts to Bitcoin! Genius Move or Risky Gamble?
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Russia civic chamber proposes dedicated fund for confiscated crypto assets
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Netflix Director Carl Rinsch Charged With $11M Crypto Fraud Netflix Director Carl Rinsch has been arrested for allegedly defrauding the streaming giant out of $11 million meant for his sci-fi series White Horse. Instead of completing the project, he invested the money in crypto and spent lavishly on luxury cars, antiques, and personal expenses. The case raises concerns about financial oversight in entertainment funding and the volatility of cryptocurrency investments. With Netflix never receiving the completed White Horse series, the allegations highlight the risks of unchecked spending in large-budget productions. Legal experts suggest that Rinsch’s case may set a precedent for stricter financial audits in media financing. Netflix Director Carl Rinsch, best known for directing 47 Ronin, was arrested in West Hollywood on March 18 on charges of wire fraud and money laundering. Prosecutors claim that between 2019 and 2020, he requested an additional $11 million from Netflix, promising to use it for the completion of his sci-fi series White Horse. However, instead of funding production, Rinsch transferred the money into his personal brokerage account. He engaged in speculative stock and crypto trading, losing over half the amount within two months. Now indicted on wire fraud, money laundering, and financial crimes, Netflix Director Carl Rinsch faces up to 90 years in prison if convicted. Acting U.S. Attorney Matthew Podolsky described his actions as "a scheme to steal millions under the guise of television production." Although released on $100,000 bail, Rinsch must appear in a New York court for further legal proceedings. Meanwhile, Netflix never received the completed White Horse series. $AIXBT
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Bitcoin whale bets $368M with 40x leverage on BTC decline ahead of FOMC - A Bitcoin whale is wagering hundreds of millions on Bitcoin’s short-term decline, ahead of a week filled with key economic reports that may significantly impact Bitcoin’s price trajectory and risk appetite among investors. - A large crypto investor, or whale, has opened a 40x leveraged short position for over 4,442 Bitcoin (BTC) worth over $368 million, which functions as a de facto bet on Bitcoin’s price fall. - Leveraged positions use borrowed money to increase the size of an investment, which can boost the size of both gains and losses, making leveraged trading riskier compared to regular investment positions. - The Bitcoin whale opened the $368 million position at $84,043 and faces liquidation if Bitcoin’s price surpasses $85,592. - The investor has generated over $2 million in unrealized profit, however, he has an over $200,000 loss on his position’s funding fees, Hypurrscan data shows. - #StablecoinSurge
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Kentucky Senate Approves Cryptocurrency Bill HB701 Unanimously - The Kentucky Senate passed House Bill 701 unanimously on March 13, 2025, aiming to advance regulations on blockchain assets. The bill now awaits the Governor's approval. - If signed, HB701 can transform Kentucky into a Bitcoin-friendly state, possibly attracting blockchain businesses, reflecting a broader acceptance of cryptocurrency regulations nationwide. - On March 13, 2025, the Kentucky Senate passed HB701 without opposition, propelling it to the Governor's desk. This legislative move underscores a progressive approach toward blockchain asset governance. The bill's sponsors, Representatives Adam Bowling and T.J. Roberts, spearheaded the effort to establish clear rights for Bitcoin self-custody and exempt digital miners from money transmitter licensing requirements. - The latest Bitcoin price data displays a value at $56,780, with fluctuations between $56,000 and $57,500. This mirrors the cryptocurrency's typical volatility, sustaining a trending resistance at $57,500. - Experts suggest the legislative progress in Kentucky could inspire broader cryptocurrency regulatory adoption. The enactment of such laws might enhance investor confidence and foster more blockchain technology investments. - Past legislative measures in states like Wyoming and Texas have similarly promoted blockchain-friendly environments. These measures typically led to increased industrial interest and development in those regions. Experts emphasize that Kentucky's approach, based on legal data and comparative trends, could promote a significant industry shift. This legislation might well position Kentucky as a leader in cryptocurrency regulation. - #BotOrNot
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