The Ledger: Twitter ups crypto strategy, Buffett renews crypto skepticism, FTX recovers funds

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Updated April 14, 2023 | Published April 14, 2023

2 mins read

Twitter doubles down on crypto, FTX recovers funds and crypto gaming thrives.

Warren Buffett, a legendary analyst and investor and a firm critic of Bitcoin (BTC), suggested earlier this week – as is his custom – that cryptocurrencies, and BTC in particular, are a form of gambling.

The nonagenarian likened the token to sports betting, chain letters and roulette, and said it had no intrinsic value. Buffett has been harping on this tune since BTC went mainstream.

Meanwhile, FTX, the bankrupted cryptocurrency exchange which misspent the funds of its investors, was finally able to retrieve $7.3bn in cash and liquid crypto assets, helping it recover its reputation.

This comes at a time when the exchange is facing lawsuits and its former boss, Sam Bankman-Fried, is potentially looking at a lengthy prison sentence.

According to Melbourne’s RMIT University, criminals who interact with cryptocurrencies while committing a crime are likely to receive harsher sentences.

Although interesting, the researchers behind the study believe that courts and law enforcement may need to tame their zeal when trialing or investigating criminals who have happened to use crypto.

Spain continues to send notifications to people who have generated income through cryptocurrency but have not been paying any taxes. For the time being, the country’s tax authority is sending warning notices, but enforcement action will follow lest everything owed is collected.

In the world of crypto gaming, SoftSwiss, an aggregator of igaming content, has introduced the MetaMask cryptocurrency wallet. This way, online players will have easier access to depositing with crypto and enjoy a number of games.

BGaming has confirmed that it will be sponsoring the Scatters Club’s streamers tournaments with $25,000. The first event took place March 10 – March 24, with the new tournament series just round the corner already.

An anonymous player managed to win $170,000 in BTC playing Book of Fallen by Pragmatic Games on Bitcoin.com Games. The lucky winner managed to secure the hefty payout on a measly 0.005 BTC bet.

Reevo, a prominent slots developer supporting numerous currencies, has added its newest game, Royal Bets, to its portfolio.

Twitter is doubling down on financial products. CNBC reported that the company is teaming up with eToro, a trading platform based in Israel, which will help Twitter users to buy and trade stock and crypto.

Shockingly, a former Deutsche Bank employee was arrested this week in New York, over his alleged involvement in a Ponzi scheme.

Rashawn Russell, who worked at the bank from 2018 through most of 2021, is said to have asked friends for money, but ended up misusing the funds on various personal expenses and for gambling.

Looking for your next crypto casino? Check out: Bitcasino 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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