The Ledger: Twitch bans gambling, Crypto King scams investors $32m

The week’s biggest event was certainly one of the worst news that investors got as well. Aiden Pleterski, a self-proclaimed crypto king, has scammed investors out of $32m.

The 23-year-old man from Ontario, Canada, is said to have duped more than 150 investors through AP Private Equity Limited, a company he setup to perpetrate his scam.

Charming, Pleterski convinced investors that they were making money while he was in fact misusing their funds for personal gratification.

Twitch has decided that enough is enough this week and ordered the suspension of gambling content that comes from unlicensed websites or websites based in jurisdictions that do not value consumer protection.

The ban is effective on October 18 and will target content by Stake.com, Duelbots, Rollbit, and Roobet among others.

The measure is a response to more streamers turning to sponsored gambling content and pushing it onto their audiences, which Twitch has disagreed with in the past.

An important development on the regulation front occurred this week with the European Union coming to an agreement on the final Markets in Crypto Assets (MiCA) legislation.

This marks the first time such major regulation on crypto has been passed anywhere in the world, and the draft seen by CoinDesk suggests that lawmakers have learned to address present concerns and anticipate future complications.

Investment bank JPMorgan Chase has cautioned that there has been a decrease in demand for cryptocurrency payments. According to Takis Georgakopoulos, the bank’s head of global payments, the volume of payment transactions conducted in cryptocurrencies has been declining.

Another market was subject to a massive hacking attack this week. Wintermute, a cryptocurrency market maker, reported that $160m worth of cryptocurrency funds were lost during the latest attack against the decentralized finance (DEFi) platform.

Company CEO Evgeny Gaevoy acknowledged the loss of the funds but said that the company had been able to restrict hackers access to its internal systems, mitigating the core damage of the attack could have had. He warned about a temporary disruption in the service.

Binance made headlines once again by securing a license to launch in Dubai. The permit was issued by the Virtual Asset Regulatory Authority (VARA) and has made it possible for Binance to launch its services in the country.

If you want to enjoy cryptocurrencies over the weekend but aren’t really into regulation, we suggest you give crypto a go at Bitcasino, 1xBit or FortuneJack. All three websites are designed to let you have fun while playing with cryptocurrencies.

Looking for your next crypto casino? Check out: Bitcasino, 1xBit or FortuneJack.

Written by Alex

Reporter

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.

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