• Ecoinimist Pulse
  • Posts
  • Polymarket Under Fire: FBI Targets CEO in Election Betting Scandal

Polymarket Under Fire: FBI Targets CEO in Election Betting Scandal

The FBI has seized Polymarket CEO Shayne Coplan's electronics as part of a DOJ investigation into alleged election betting activity on the platform, sparking claims of political retribution and regulatory scrutiny over unregulated markets.

Author

Steven Walgenbach
November 14, 2024

Stay Up to Date With All of the Latest Crypto Market Developments!

Keep up with the latest happenings in the crypto market! The Ecoinimist Telegram group shares quick updates on important technical events like EMA crosses and more, plus it offers #AI-powered insights to help you understand what the #crypto charts are really saying as well as notifications of new listings on Binance.

We will be adding more exchanges and crypto monitoring in the future to create a single group for everything traders and investors will want to keep tabs on! Let the #bots do it! Just a heads up, everything in this group is for informational purposes only and not financial advice!

Join the group to stay in the loop, it’s FREE! https://

Breaking Crypto Stories

Here are the top stories today:

  • FBI Seizes Polymarket CEO’s Phone and Electronics: Report

  • Crypto Influencer Found Dead in Montreal Park Months After Abduction

  • US Targets $17.9M in Crypto Linked to Alleged Sam Bankman-Fried China Bribe

  • Revolut Expands Crypto Exchange to 30 New European Markets – Discover What It Means for Traders

  • Revolutionizing Ethereum: Discover the ‘Time Machine’ that Lets Users Revert Smart Contracts

Question of the Day

Is the recent Polymarket CEO raid politically motivated, and if so, what can the Democrat Party actually do if they find anything?

The FBI seized Polymarket CEO Shayne Coplan's electronics amid a DOJ probe, allegedly tied to U.S. election betting on the platform, which has faced scrutiny for enabling unregulated political betting markets.

  • Polymarket CEO Shayne Coplan is reportedly under investigation by the DOJ following the FBI’s seizure of his phone and electronics, allegedly related to U.S. election betting activity.

  • Polymarket, which resolved $3 billion in election bets, has faced ongoing regulatory challenges over offering election-related markets, despite settling with the CFTC in 2022 and restricting U.S. access.

  • Sources close to Coplan claim the investigation is politically motivated, with accusations of market manipulation amid Polymarket's favorable odds for Trump in the recent election.

The body of Kevin Mirshahi, a Montreal-based crypto influencer who was abducted in June, has been discovered in a local park, adding to a troubling trend of abductions and violence targeting crypto figures.

  • Kevin Mirshahi’s body was found in Île-de-la-Visitation park in Montreal after he was abducted in June; three other abducted individuals managed to escape.

  • Police have arrested a 32-year-old woman, Joanie Lepage, in connection with Mirshahi’s murder, though details around the motive remain under investigation.

  • Mirshahi’s death reflects a rising trend of kidnappings and violence against crypto influencers, often linked to financial motives, as seen in recent high-profile cases worldwide.

The U.S. Department of Justice is seizing $17.9 million in cryptocurrency linked to an alleged bribery scheme by Sam Bankman-Fried aimed at Chinese officials, part of a broader investigation into FTX's activities.

  • The U.S. Justice Department seeks to confiscate $17.9 million in crypto from a Binance account tied to Bankman-Fried's alleged attempt to bribe Chinese officials to unlock $1 billion in frozen assets.

  • The case highlights regulatory challenges in the cryptocurrency industry, stressing the need for transparency and compliance amid legal scrutiny.

  • Investor confidence in crypto markets has been shaken, prompting stakeholders to closely follow regulatory developments to ensure stability and trust in digital asset exchanges.

📈Revolut Expands Crypto Exchange to 30 New European Markets – Discover What It Means for Traders

Revolut has expanded its crypto exchange services to 30 new European markets, offering traders a secure, accessible, and user-friendly platform for buying, selling, and holding cryptocurrency.

  • Traders in 30 additional European markets can now access Revolut’s crypto platform, enabling seamless participation in the crypto market.

  • The platform offers a user-friendly interface, a wide selection of cryptocurrencies, real-time market data, and advanced security for secure trading.

  • Revolut’s transparent and competitive fee structure provides an affordable option for traders looking to optimize their crypto trading costs across Europe.

The proposed 'Time Machine' feature for Ethereum could allow developers to revert smart contracts to previous states, addressing challenges with immutability and enhancing security.

  • The 'Time Machine' concept would enable developers to revert Ethereum smart contracts to a prior state, potentially correcting errors without requiring a new deployment.

  • This feature would improve smart contract security by allowing rollbacks after an exploit, while adding flexibility to address unforeseen issues.

  • Implementing the 'Time Machine' would require addressing security risks and ensuring that rollbacks maintain blockchain integrity and trust.

ICYMI:

Start Trading Now!

Looking to buy crypto? Register on Binance today to begin your crypto journey on one of the most liquid exchanges in the industry!

Don’t Want to Sit Behind Screens All Day?

Trading the markets is tough, and requires an extreme level of dedication. This is why Binance has made it easy to Dollar cost average into crypto! Find out how to get started here: Dollar Cost Averaging on Binance: A Guide to Investing

To make your crypto work for you, find out how to stake on Coinbase.

Thank you for reading!

Thank you for reading our newsletter! If you liked what you read, please share it with your friends!