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Here's why smart money could target this low cap gem
NFT Gaming

Here’s why smart money could target this low cap gem

by admin August 20, 2025



Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Solana memecoins surge, but new rival XYZVerse’s presale gains steal market spotlight.

Summary

  • XYZVerse, the first all-sport memecoin, rises with sports fandom focus, aiming to rival SOL and ADA.
  • Backed by G.O.A.T. branding, it blends memecoins with GameFi, gaining traction beyond hype.
  • XYZVerse presale momentum grows as sports-driven memecoin targets major gains for early adopters.

Recent moves by Solana and Cardano have caught attention, as many eyes turn to their next steps this September. 

While big names battle for the spotlight, some investors are shifting focus. A lesser-known project, XYZVerse (XYZ), is starting to draw interest from those tracking new trends. There may be more to this story than what meets the eye.

XYZ and the sports-crypto crossover: Can it live up to the hype?

Memecoins have always thrived on culture and community, and the latest entrant, XYZVerse, is betting big on sports as its cultural anchor. Positioned at the intersection of crypto and fandom, the project is appealing to enthusiasts of football, basketball, MMA, and even esports. 

Rather than being framed as “just another token,” XYZVerse wants to build a community around a shared passion for competition.

Chasing the G.O.A.T. title

The team behind XYZVerse has embraced the Greatest of All Time (G.O.A.T.) branding — a bold signal that they want to stand out from the wave of short-lived meme tokens. The project recently gained traction by being named Best New Meme Project, which suggests it’s starting to get recognition beyond its own circles.

Unlike many memecoins that live and die on hype cycles, XYZVerse is presenting itself with a roadmap and community-driven ambitions. Whether that will translate into long-term relevance remains to be seen, but the intent is clear: they want staying power.

Presale momentum

At the time of writing, XYZVerse is in presale and has already raised more than $15 million. Here’s a look at the pricing structure:

  • Launch Price: $0.0001
  • Current Price: $0.0053
  • Next Stage: $0.01
  • Final Presale Price: $0.02
  • Target Listing Price: $0.10

If the token does list at its projected price, early presale buyers could theoretically see significant returns. Of course, such projections in crypto often hinge on whether the project sustains demand and delivers on its roadmap.

The bigger picture

What sets XYZVerse apart isn’t just the presale hype — it’s the way it’s framing the token as a “badge of honor” for sports and crypto fans. This narrative could resonate in a space where identity and belonging are as important as financial speculation.

Still, questions remain: Can XYZVerse sustain momentum once the token is publicly traded? Will the community continue to grow after the initial excitement fades? These are the factors that will ultimately determine whether XYZVerse becomes a long-term player — or just another fleeting meme coin experiment.

Solana

Source: TradingView

SOL has recently shown a modest gain, with a 2.46% increase this week and a 1.19% climb over the past month, staying within a $173-$209 range. Over the last six months, it has seen a 6.00% rise, indicating a slow but consistent upward trend. Despite short traders attempting to push it below $173, buyers have consistently countered these dips.

Near-term indicators suggest a mixed outlook. The 10-day average of $182.64 remains below the 100-day line at $188.25, indicating a need for stronger bullish momentum. Momentum gauges are low, suggesting that selling pressure is diminishing, but conviction among buyers is weak.  

Key price levels to watch are $227.70 and $155.26. If SOL surpasses $227.70, it could potentially reach $263.92, representing a 30%-40% increase from its current midpoint. Amid an increasing institutional interest, Solana’s long-term forecast looks bullish.  

Cardano

Source: TradingView

ADA recently saw a 16.95% increase over the past week, surpassing its 8.92% gain in the last 30 days and its 16.80% rise over six months. The coin is currently trading within a narrow range of 0.81 to 1.07, as traders test both support and resistance levels. The market sentiment is cautious but active.

The 10-day moving average is at 0.92, and the 100-day moving average is at 0.94, indicating minimal long-term price deviation. Both the Relative Strength Index (RSI) at 39.29 and the stochastic oscillator at 25.71 are near oversold levels, suggesting that selling pressure might be diminishing. The Moving Average Convergence Divergence (MACD) is slightly negative at -0.0044, indicating flat momentum. Key support levels are at 0.66 and further down at 0.41, while resistance levels are at 1.17 and 1.42.

If buyers manage to push the price above 1.07 and then 1.17, ADA could potentially climb another 15% to 1.25, and subsequently test 1.42, which would represent a 33% increase from its current level. Conversely, a drop below 0.81 could lead to a 20% slide to 0.66, and a further breakdown could see it fall to 0.41, wiping out 50% of its current value. The tight moving averages and low RSI suggest a higher probability of an upward movement, but for a new rally to begin, the coin needs to close above 1.17.

Conclusion

SOL and ADA remain strong picks, yet XYZVerse, the first all-sport memecoin, targets significant gains through community-led sports GameFi, giving early adopters unmatched upside.

To learn more about XYZVerse, visit the website, Telegram, and Twitter.

Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.



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August 20, 2025 0 comments
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Circle's Jeremy Allaire on GENIUS Act: 'Internet of Money Has Arrived'
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Circle’s Jeremy Allaire on GENIUS Act: ‘Internet of Money Has Arrived’

by admin August 18, 2025


Jeremy Allaire, cofounder of Circle, the company behind USDC stablecoin, has dropped a motivational post on X. Allaire emphasized the importance of persistence in the cryptocurrency industry in the post. He did this by highlighting his role in the birth of the GENIUS Act.

Jeremy Allaire reflects on Circle’s early struggles

The Circle CEO recalled how many stakeholders, including investors, regulators and even family members, doubted him when he conceived the idea of Circle in 2013. According to him, the idea that money could move just like information on the internet, cheaply, instantly and globally, was unbelievable to many.

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However, with 12 years of persistence, patience and collaboration, the stablecoin sector has witnessed massive growth. Allaire noted that, working with regulators and lawmakers, legislation to regulate the sector has finally seen the light of day.

“Are you out of your mind?”

That’s what I heard more than once in the early days of Circle.

Twelve years later, the GENIUS Act has been signed into law, and we can now say the internet of money has arrived. 🧵

— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) August 18, 2025

For context, the GENIUS Act is landmark legislation for the crypto industry in the U.S., particularly for stablecoins. The act provides a regulatory framework and transparency for fiat-backed stablecoins.

Allaire is stating that if he had given up when many did not believe in Circle, or thought that “internet money” was crazy, these gains would not have been achieved. In a nutshell, he said that large systems do not change overnight, announcing that the internet of money has arrived.

Circle’s market position

Circle currently ranks second on the stablecoin market, with a market capitalization of $68.14 billion. It is surpassed only by Tether, whose market cap stands at $166.81 billion.

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Meanwhile, earlier in May 2025, the rumor of Ripple acquiring USDC was widespread, with the XRP-backed company offering $20 billion. However, the deal unraveled as Circle filed for an IPO with the New York Stock Exchange.

In July, John Deaton, pro-Ripple lawyer, had to dismiss speculation that Circle posed a threat to XRP. Deaton maintained that XRP is not a stablecoin, nor is it trying to be USDC.





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August 18, 2025 0 comments
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Sam Altman testifying on capital hill.
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‘Someone is going to lose a phenomenal amount of money’ says OpenAI CEO Sam Altman about unwise AI investment. ‘When bubbles happen, smart people get overexcited about a kernel of truth’

by admin August 18, 2025



OpenAI CEO Sam Altman spoke to assembled reporters at a dinner in San Francisco late last week on the topic of, you guessed it, AI, the applications of AI, and the vast sums of money moving behind the scenes to fund it. Despite being one of the most vocal advocates of the tech, Altman had some words of caution for investors jumping on the artificial intelligence train.

According to The Verge, Altman said it was “insane” that AI startups consisting of “three people and an idea” are receiving huge amounts of funding off the back of incredibly high company valuations, describing it as “not rational behaviour.”

“Someone is going to lose a phenomenal amount of money. We don’t know who, and a lot of people are going to make a phenomenal amount of money,” said Altman.


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“When bubbles happen, smart people get overexcited about a kernel of truth. If you look at most of the bubbles in history, like the tech bubble, there was a real thing.” said Altman, referencing the infamous dot-com bubble of the late 1990s. “Tech was really important. The internet was a really big deal. People got overexcited.”

That being said, Altman stopped short of calling investment in AI overall a bad idea for the economy in general: “My personal belief, although I may turn out to be wrong, is that, on the whole, this would be a huge net win.”

At the same dinner, Altman confirmed that OpenAI would still be spending vast amounts of money (partially provided, presumably, by the likes of Softbank and the Dragoneer Investment Group in OpenAI’s latest $8.3 billion funding round) to keep the company at the top of the AI financial leaderbooks.

“You should expect OpenAI to spend trillions of dollars on data center construction in the not very distant future,” Altman said. “You should expect a bunch of economists to wring their hands.”

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Well, it certainly appears to cost a whole lot of moolah just to keep the good ship OpenAI afloat. The company has raised staggering sums of cash over the past decade to develop and run its various AI implementations, the most famous of which being ChatGPT. Reports last year indicated that OpenAI had spent $8.5 billion on LLM training and staffing for its generative AI efforts, while other analysts have predicted it costs $700,000 a day to run ChatGPT alone.

The Information recently projected that OpenAI would be burning through $20 billion in cash flow by 2027, with the company said to be hopeful that investors like Softbank would stump up another $30 to $40 billion to continue funding its operations.

A CG render of Meta’s planned Hyperion data center, superimposed over Manhattan. (Image credit: Meta)

Still, those spending figures don’t appear to be in the trillions yet, although that estimated sum is perhaps of little surprise to those of us that keep an eye on AI data center expansion.

Given that Altman’s rival, Elon Musk, has been booting up and expanding xAI’s Colossus supercomputer with incredible speed, and with the news that Meta is expanding its data center operations at such a rate it’s currently having to house a significant portion of its racks in nearby tents, OpenAI will feel the need to keep up—and to do that it needs to spend (and raise) huge amounts of cash over the next few years.

One would assume that Altman is confident enough in his company’s efforts to place its investors on the “going to make phenomenal sums of money” side of things, but his comments should perhaps serve as a warning to those looking to jump in with both feet without correctly judging the landing. Someone has to lose in the great AI race, I suppose. And as to which companies survive, and which come to a sticky end? That remains very much an open question for now.

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August 18, 2025 0 comments
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FTC issues $126 million in Fortnite refunds, gives eligible players an extra 2 weeks to apply for their money back

by admin June 26, 2025



The US Federal Trade Commission has issued a new wave of refunds totalling $126 million to Fortnite players who were charged for unintentional purposes, and reopened the claims process to allow people who missed it the first time around another chance to get their money back.

The refunds stem from a 2022 settlement between the FTC and Epic Games, which saw Epic agreed to pay a total of $520 million in penalties over allegations that it violated the Children’s Online Privacy Protection Act (COPPA) and used “dark patterns” to trick Fortnite players into making unwanted purchases. $275 million of that amount was a penalty for violating COPPA, while the remaining $245 million was earmarked for refunds to consumers who made those unwanted purchases.

The first wave of refunds went out in December 2024, to the tune of $72 million issued over more than 629,000 payments. This second round is even bigger: More than $126 million in total, in 969,173 payments being sent out over June 25 and 26. And the FTC does not dick around with V-Bucks or account credits: The refunds will be issued as either cheques or PayPal payments.


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If you’ve already filed for your refund, there’s seemingly nothing more to do than be patient and wait for the money to show up when it’s your turn: A number of redditors say they received their refunds today, seemingly without advance notice.

Eligible consumers who have not yet submitted a claim will now have until July 9, 2025, to submit one at https://t.co/EGRQmW04Wu.June 25, 2025

More importantly, though, if you missed out on the refund filing deadline the first time around, the FTC has reopened the process: You now have until July 9 to put in your claim at www.ftc.govMore importantly, though, if you missed out on the refund filing deadline the first time around, the FTC has reopened the process: You now have until July 9 to put in your claim at www.ftc.gov/fortnite. Sorry, but you have to be a citizen of the US to be eligible, and at least 18 years of age, although if you’re younger you can have a parent or guardian fill out the paperwork for you.fortnite. Sorry, but you have to be a citizen of the US to be eligible, and at least 18 years of age, although if you’re younger you can have a parent or guardian fill out the paperwork for you.

Keep up to date with the most important stories and the best deals, as picked by the PC Gamer team.





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June 26, 2025 0 comments
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Switch 2
Gaming Gear

Be careful about spending money on a second-hand Switch 2, as one player has reported receiving a bricked console caused by Nintendo’s anti-piracy policy

by admin June 24, 2025



  • Pre-owned Switch 2 consoles that have been modded are reportedly being bricked by Nintendo’s anti-piracy policy
  • Redditor Bimmytung says they bought a second-hand console from Walmart, only to discover that the Switch 2 is permanently offline
  • Nintendo has been blocking access to online services on the console if players have modded the console using the MIG Flash tool

If you’re thinking about purchasing a second-hand Nintendo Switch 2, you may want to think twice, as Nintendo’s anti-piracy policy has reportedly left some consoles permanently offline.

As IGN reports, Redditor Bimmytung shared a post explaining how they bought a pre-owned Switch 2 from Walmart, only to find that it had been ‘bricked’ by Nintendo after booting it up.

Earlier this month, it was reported that Nintendo had been blocking access to online services on the console if players had used MIG Flash, a tool used to allow players to backup copies of games.


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Before the Switch 2 launched, Nintendo suggested in its user agreement that it had the power to ‘brick’ devices that are modded.

“Nintendo may render the Nintendo Account Services and/or the applicable Nintendo device permanently unusable in whole or in part”, it reads.

Those affected will be presented with error code “2124-4508,” which will permanently block players from accessing online services, which is exactly what Redditor Bimmytung has experienced.

Found one. Didn’t end well. from r/switch2

“Been casually looking for a Switch 2. Today I was driving between work sites and stopped at two different Walmarts. At the second one I find a Mario Kart edition sitting in the case and couldn’t believe my luck,” Bimmytung said.

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“Physically it’s fine, everything seems there. Notice that the Mario Kart code is scratched off. Hmm. Naturally wonder if the original buyer redeemed the code and returned the system. They knocked $50 off the price so I figured I’d roll the dice and at least have the hardware. Bought a Pro Controller 2 while I was at it.

The Redditor continued, saying, “Get home and go to finish the setup – quickly get Error Code 2124-4508. A quick Google search shows me I’m screwed. FML. Thankfully my local Walmart accepted the return without any fuss but still… I wish nothing but enthusiastic double gonorrhea to the lowlife scum that did this.”

Users with a ‘bricked’ Switch 2 would essentially be unable to access any multiplayer games like Mario Kart World, the eShop, Game Chat, and more.

Thankfully, stores like Walmart can accept refunds, but if you were to buy a second-hand console from eBay without knowing if it had been modded, you’re out of luck.

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June 24, 2025 0 comments
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Useless Coin price surges as smart money investors buy
NFT Gaming

Useless Coin price surges as smart money investors buy

by admin June 22, 2025



Useless Coin has emerged as a surprising outlier in a bearish crypto landscape, surging over 1,700% in June even as broader Solana meme coins and blue-chip tokens like Bitcoin retreat.

Powered by aggressive accumulation from smart money and whales, and supported by thinning exchange balances, the meme coin has hit a $100 million market cap and caught the attention of traders hunting for upside. While momentum indicators now flash caution, Useless Coin’s rise underscores the unpredictable nature of meme-driven markets—and the powerful role of investor sentiment.

Useless Coin (USELESS) token jumped to a high of $0.1092 this week, up by over 1,750% from its lowest level in June. 

Useless token price jumped even as the crypto market crashed, with Bitcoin (BTC) falling from a record high of $111,900 in May to $103,000. Most Solana (SOL) meme coins have dropped this month, with their market capitalization falling from over $15 billion earlier this month to $9 billion. 

Nansen data shows that smart money investors have been buying the coin. Data shows that its smart money investors bought Useless tokens worth over $94,000 in the last 24 hours.

These investors now hold over 14 million tokens, a 97% increase from the same period last month. Similarly, whales have increased their exposure by over 36% in the last 30 days to over 338 million. 

Useless whale accumulation | Source: Nansen

Smart money and whale accumulation is a good catalyst for an asset because it is a sign that they expect the price to keep going upwards. Further data shows that the exchange balances have crashed by over 16% in this period to 51.8 million. 

Useless Coin price technical analysis

Useless chart | Source: TradingView

The four-hour chart shows that the Useless token price has surged from a low of $0.005460 to a record high of $0.1095. It has formed an ascending channel and remained above the 50-period moving average. 

The risk, however, is that there are signs that the momentum is ending. For example, the Average Directional Index has plunged from a record high of 70 to 20. The ADX is a popular indicator that measures the strength of a trend. 

The MACD and the Relative Strength Index have also formed a bearish divergence pattern, pointing to a potential retreat. Therefore, the coin may drop to the support at $0.50 as traders start to book profits.  



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June 22, 2025 0 comments
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Palantir's CEO Throws Money Behind Andrew Cuomo in NYC Mayoral Race
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Palantir’s CEO Throws Money Behind Andrew Cuomo in NYC Mayoral Race

by admin June 18, 2025


Alex Karp, the billionaire CEO of creepy defense contractor Palantir, has taken a side in New York’s closely watched mayoral race. Karp, who once bragged that his company kills people, recently gave a large sum of money to a Super PAC that is supporting the campaign of former New York governor Andrew Cuomo.

Cuomo is currently running against Zohran Mamdani, a 33-year-old assemblyman for the city’s 36th district in Queens. The race between the two candidates has become a referendum on New York’s future, with both candidates offering drastically different visions for housing and economic policy. Mamdani has described himself as a democratic socialist, while Cuomo is campaigning on a promise to bring sensible centrism back to the city after the fiasco that has been Eric Adams’s administration.

Politico notes that Karp recently donated $90,000 to Fix the City, which is backing Cuomo’s campaign. The contribution further cements a picture of Karp’s politics that leans rightward, though Karp has, in the past, referred to himself by a variety of political labels—even calling himself a “socialist” or a “neo-Marxist.” We can surely call BS on that now, since Karp is currently using his money to defeat an actual socialist.

Indeed, Karp is just one of several billionaires who are pouring money into Cuomo’s campaign in an apparent effort to stave off a more populist form of government in the city. Despite Cuomo’s promise to fight Trump, a number of MAGA fixtures, like Trump fan Bill Ackman, have thrown their support behind the former governor. Cuomo’s campaign has rested on a series of vague promises about improvements for city services and the bragging point that he “knows how government works.” Of course, NYC is a city where Republicans have a tough time in modern politics, so the Democratic primary is where the action is.

Mamdani, meanwhile, has championed many leftist economic policies, including the establishment of government-owned and operated supermarkets to bring down food prices. He has also championed rent freezes in a city where the cost of living just keeps going up. His critics have noted that Mamdani has substantially less government experience than Cuomo and, prior to his political career, was a rapper for several years known as “Mr. Cardamom.”

Cuomo notably served as the governor of New York from 2011 until 2021, when his administration combusted as a result of several scandals, including allegations of sexual harassment leveled against him by former female aides. A criminal case against Cuomo was brought over the allegations, but the charges were dropped in January of 2022, with authorities citing a lack of evidence.

Palantir, meanwhile, has increasingly wedded itself to the Trump administration and is assisting the government with its deportation efforts, as well as in a controversial data centralization effort that has drawn criticism from privacy and civil liberties advocates.



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June 18, 2025 0 comments
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GTA Online's next update will let you pull off a classic, if slightly dull, type of crime: money laundering
Game Updates

GTA Online’s next update will let you pull off a classic, if slightly dull, type of crime: money laundering

by admin June 15, 2025



I feel like money laundering is one of those concepts you see in a lot of crime TV shows but it’s not really something that seems to come up much in games. I certainly can’t think of any games that feature money laundering as an actual mechanic, but I’ll be able to add one to the list next week: GTA Online. The multiplayer game is getting a new update this coming June 17th called Money Fronts, and is literally all about buying up small but generally lucrative businesses that you can sneak some money through.


There’s a few businesses you’ll be able to pick up but you’ll be starting off with a classic: the car wash, specifically Hands On Car Wash. You’ll get passive income through this from your criminal network, eventually allowing you to pick up the Smoke on the Water dispensary and Higgins Helitours, all of which will also bring in their own money from actual, legal business operations.


However, with the pro of lots of moola, there is a big con too. Operating these businesses this way will generate heat, and if that gets too high, you’ll have to actually step in as the local business owner you’re pretending to be to manage these companies the way they’re legally meant to be.


There’s a few new rides you can pick up too, like the Karin Everon RS or the Declasse Tampa GT (Muscle). Money Fronts is also bringing in some gameplay tweaks. More than 50 vehicles will have missile lock-on jammer capability, and all sources of arena points are being doubled. A number of cutscenes will be skippable on mission replays too, though which ones that’ll be weren’t specified.


More details will be coming, uh, at some point, Rockstar just said “stay tuned”. You only have to wait a few days for it anyway, you’ll live.



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June 15, 2025 0 comments
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Crypto
Crypto Trends

Major Crypto Executive Accused Of Involvement In $500 Million Money Laundering Scheme

by admin June 10, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Federal prosecutors in Brooklyn have charged Iurii Gugnin, the founder of a US-based crypto payments company, with orchestrating a sophisticated international money laundering operation that allegedly moved over $530 million on behalf of sanctioned Russian banks and entities. 

According to a CNBC report on the matter, the 38-year-old Russian national, residing in Manhattan, was arrested and arraigned on Monday, where he was ordered to be held without bail pending trial.

‘A Covert Pipeline For Dirty Money’

Gugnin faces a 22-count indictment that includes charges of wire and bank fraud, violations of US sanctions, money laundering, and failing to implement mandated anti-money laundering protocols. Assistant Attorney General Eisenberg stated: 

The defendant is charged with turning a cryptocurrency company into a covert pipeline for dirty money, moving over half a billion dollars through the US financial system to aid sanctioned Russian banks and help Russian end-users acquire sensitive US technology.

According to prosecutors, Gugnin utilized his companies—Evita Investments and Evita Pay—to process significant payments while obscuring the origins and purposes of the funds. Between June 2023 and January 2025, he allegedly funneled money through various US banks and cryptocurrency exchanges, primarily using Tether’s USDT stablecoin. 

The indictment reveals that Gugnin’s clients included individuals and businesses associated with sanctioned Russian institutions such as Sberbank, VTB Bank, Sovcombank, Tinkoff, and the state-owned nuclear energy firm, Rosatom.

Crypto Executive Faces Up To 30 Years In Prison 

To execute this scheme, Gugnin allegedly misrepresented the nature of his business, falsified compliance documents, and deceived banks and digital asset platforms regarding his connections to Russia. 

Prosecutors allege he concealed the source of the funds through shell accounts and altered over 80 invoices, digitally removing the identities of Russian counterparties.

Investigators also uncovered internet searches that indicate Gugnin was aware of the scrutiny he faced, including queries like “how to know if there is an investigation against you” and “money laundering penalties in the US”

Notably, the Justice Department has highlighted that Gugnin maintained direct connections with members of Russia’s intelligence services and officials in Iran—nations that do not extradite individuals to the US. He is also accused of facilitating the export of sensitive US technology to Russian clients, including controlled anti-terrorism servers.

If convicted on bank fraud charges alone, the crypto executive faces a statutory maximum sentence of 30 years in prison. However, should he be found guilty on all counts, he could face a much longer consecutive sentence that could extend beyond his lifetime, underscoring the severity of the charges against him.

The daily chart shows the total crypto market cap’s rise on Monday. Source: TOTAL on TradingView.com

Featured image from DALL-E, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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June 10, 2025 0 comments
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NFT Gaming

Australia Charges Four Over $123M Crypto Money Laundering Ring

by admin June 9, 2025



In brief

  • Australian police have dismantled a $123 million Queensland money laundering ring that allegedly funneled illicit cash into crypto.
  • Raids across Brisbane and the Gold Coast uncovered $170,000 in crypto, physical cash, luxury properties, and encrypted devices.
  • The AFP’s asset seizure taskforce restrained over $110 million in the past year, with crypto playing a key role in multiple cases.

Australian police have charged four over their alleged involvement in a Queensland-based money laundering network that is accused of moving $123 million in illicit cash into crypto.

On June 5–6, the Australian Federal Police (AFP)‑led Criminal Assets Confiscation Taskforce (CACT), alongside the Queensland Joint Organised Crime Taskforce (QJOCTF) and other agencies, executed 14 targeted raids across Brisbane and the Gold Coast following an 18-month federal investigation, according to a Monday statement from the Australian Taxation Office.

Investigators uncovered crypto estimated at $110,370, along with $30,000 in physical cash, encrypted devices, business documents, vehicles, properties, and bank accounts.

Authorities allege the scheme funneled drug money and criminal proceeds through a Gold Coast security company that offered armored transport services, then washed the funds using shell businesses, classic car sales, and crypto exchanges.

The company is accused of converting massive volumes of physical cash into crypto to obscure its origins.

‘We allege this organisation intentionally concealed and disguised the source, value and nature of their illicit money, and distanced themselves from the funds to try to avoid getting caught by authorities,” said AFP Detective Superintendent Adrian Telfer in a Monday statement.

A 32-year-old man from Heathwood in Brisbane, accused of laundering $6.16 million over 15 months, has been remanded in custody and is appearing in court today.

Authorities claim he used a sales promotion company, registered in his wife’s name as a “straw director,” to receive funds from the security company.

The company’s director and general manager, both from Maudsland, were granted bail after being charged with dealing in proceeds of general crime worth over $6.4 million.

A 58-year-old West End man, linked to a classic car dealership accused of washing $4.1 million, also faces multiple money laundering charges.

Crypto and money laundering

The case shows how crypto is increasingly used to hide illicit funds, with Australian authorities warning it’s a favored tool for organized crime.

CACT has restrained over $110 million in assets in the past year, much of it crypto-related, bringing total seizures since 2019 to $1.2 billion.

In July 2024, the AFP-led CACT restrained $333,779 in crypto as part of a $10.1 million asset seizure in the Gold Coast money laundering case.

The restrained assets also included seven properties worth $8.4 million, $1.12 million in cash, and over $76,000 held across multiple bank accounts.

Last month, a Queensland man forfeited a $2.9 million portfolio, including a waterfront mansion and nearly 25 BTC, after AUSTRAC, Australia’s financial intelligence agency, flagged suspicious activity linked to a 2013 crypto theft.

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June 9, 2025 0 comments
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Recent Posts

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    August 21, 2025
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    August 21, 2025
  • Cathie Wood’s Ark Invest Scoops Up $37M in Bullish and Robinhood: A Bold Bet on Crypto’s Future?

    August 21, 2025
  • XRP Paints Critical Divergence, Dogecoin (DOGE): Last Chance, Explosive Solana (SOL) Rally Now?

    August 21, 2025
  • 21 Best Early Labor Day Sales on WIRED-Tested Gear (2025)

    August 21, 2025

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About me

Welcome to Laughinghyena.io, your ultimate destination for the latest in blockchain gaming and gaming products. We’re passionate about the future of gaming, where decentralized technology empowers players to own, trade, and thrive in virtual worlds.

Recent Posts

  • Everything to know about Apple’s big software changes coming to iPhone and iPad

    August 21, 2025
  • Drowning in the sea of Opening Night Live game announcements? Here are the under-the-radar gems we’re most excited about

    August 21, 2025

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

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