The Ledger: Crypto scams, bonus drops and new regulations

This week in The Ledger we hear about a former Deutsche Bank trader who scammed $1.5m out of investors, BetFury’s $20m prize pool and the EU’s new AML regulations.

A 28-year-old banker has been sentenced to three years and five months in prison after he defrauded investors via a $1.5m crypto ponzi scheme.

Rushawn Russell promised returns of up to 25% of their original investment every month through the R3 Crypto Fund. However, he used the proceeds to fund personal expenses, including gambling.

The former Deutsche Bank trader is also alleged have used 140 stolen credit, debit, and ID cards to register online gambling accounts and buy various goods.

Talking of financial crime, the European Parliament has authorized new anti-money- laundering regulations. The rules target digital asset firms, requiring them to conduct stricter due diligence and KYC checks.

They fall under the newly created Markets in Crypto-Assets (MiCA) law and apply to all crypto-asset service providers.

Meanwhile, BetFury has launched a crypto drop with a $20m prize pool, it runs from July to September and the size of each prize will depend on how many points players earn through the activities available on the BetFury platform.

Players who join Juicy Stakes Casino are being offered the opportunity to benefit from a special bonus of between 60 and 90 extra spins for two popular Betsoft slots, Rise of Triton and Wish Granted.

Robinhood Markets has acquired cryptocurrency exchange Bitstamp for $200m in a bid to expand its cryptocurrency services. This deal is thought to be the largest the company has made so far within the sector.

Elsewhere, Australian billionaires and the founders of Ed Craven and Bijan Tehrani have broadened their investment holdings with a larger stake in ASX-listed online bookmaker PointsBet. The pair now own 5% of PointsBet.

A spokesman for Easygo Gaming, which made the investment, said it was still “actively looking for new opportunities within the global media and entertainment landscape”.

Looking for your next crypto casino? Check out Mega Dice or FortuneJack!

Written by Hannah

Hannah is editor of and has almost 15 years experience in journalism, including reporting on law, TV, gambling, crypto and alternative finance. She is particularly interested in the future of money, the transition of gambling from 'vice' industry to mainstream entertainment and the application of blockchain technology to wider society.

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