The post DOJ charges Google engineer in Polymarket insider trading case appeared on BitcoinEthereumNews.com.
The DOJ charges Google engineer Michele Spagnuolo in a case that puts prediction markets at the center of a corporate-information scandal. Federal prosecutors say the Google software engineer, known as “AlphaRaccoon” on Polymarket, used confidential company data to place bets and turned that access into more than $1.2 million in alleged profits. At the heart of the case is a simple but explosive claim: prosecutors allege nonpublic Google information was used not to trade stocks, but to wager on event-driven markets. As a result, the case has an unusual edge, tying alleged misuse of insider-style information to the fast-growing world of prediction markets. The U.S. Department of Justice has charged Spagnuolo with commodities fraud, wire fraud, and money laundering. According to the DOJ, the allegations cover a period from October to December 2025, during which he wagered approxim
The post Why Google Wants to Release 32 Million Mosquitoes in Florida appeared on BitcoinEthereumNews.com.
Google’s Debug initiative has asked the US Environmental Protection Agency to approve the release of up to 32 million Wolbachia-treated male mosquitoes in Florida over two years. The proposal sits under EPA docket EPA-HQ-OPP-2025-3951. The public comment period closes on June 5, after which the agency will decide whether to approve, deny, or place conditions on the test. The application is part of a wider experimental-use request from Google LLC. It also includes a similar release plan for California. BREAKING: Google is planning to release 32 million mosquitoes across Florida and California. The company has asked the EPA for permission to proceed, with the public given until June 5 to respond. The mosquitoes are infected with Wolbachia bacteria, which stops them from… pic.twitter.com/jCf5f3KeOG — Bull Theory (@BullTheoryio) May 30, 2026 In Florida, Google proposes releasing up to
The post DOJ Charges Google Engineer Over $1.2M Polymarket Insider Trading Scheme appeared on BitcoinEthereumNews.com.
TLDR: Google engineer Michele Spagnuolo allegedly used confidential data to profit $1.2M on Polymarket. Spagnuolo operated under the alias “AlphaRaccoon” and risked approximately $2.75M in total bets. The DOJ charged him with commodities fraud, wire fraud, and money laundering across three counts. Combined maximum sentencing across all three federal charges totals up to fifty years in prison. The U.S. Department of Justice has charged Michele Spagnuolo, a Google software engineer, with commodities fraud, wire fraud, and money laundering. Prosecutors allege he used confidential company data to place bets on Polymarket, a prediction market platform. Operating under the alias “AlphaRaccoon,” Spagnuolo allegedly generated over $1.2 million in profits between October and December 2025, risking approximately $2.75 million in total wagers tied to nonpublic Google information.
The post How a disputed $1 billion claim became a powerful weapon against prediction markets appeared on BitcoinEthereumNews.com.
On the American Gaming Association’s website, a counter has been climbing for months, tallying what the casino-and-sportsbook lobby says states and tribes have lost to prediction markets. On Thursday, it rolled past $1 billion, and the AGA moved fast to make a headline out of it, with President Bill Miller going on CNBC to warn that states and tribes were losing money that would otherwise fund community programs. Platforms like Kalshi and Polymarket let people trade contracts on real-world outcomes, and a fast-growing share of that activity amounts to sports betting by another route, with users buying yes-or-no positions priced like odds on questions such as who wins Sunday’s game. Because the Commodity Futures Trading Commission (CFTC) regulates them at the federal level, these platforms have been able to operate in all fifty states, including the ones wher
The post Kalshi’s Perps Pivot: Prediction Markets Go Derivatives appeared on BitcoinEthereumNews.com.
US traders who wanted crypto perpetuals typically went offshore, accepting counterparty, legal and access risks. That calculus just changed. With new regulatory actions clearing a path for onshore perps and a major venue pivoting into derivatives, investors now face a practical decision: does a regulated prediction-market exchange offering perpetuals provide safer, comparable, and cost-effective exposure? This guide breaks down what changed, how perpetuals differ from event contracts, and what to check before you allocate risk.
Aspect
What to Know
Regulatory milestone
The CFTC approved Kalshi’s BTCPERP perpetual futures contract on May 29, 2026, creating a regulated onshore path for crypto perps.
Market size signal
Perpetuals processed roughly $85.3T in 2025, underscoring why onshore venues are entering the space.
Institutional interest
Large market-
The post Hyperliquid Eyes Wall Street Scale as HYPE Grows appeared on BitcoinEthereumNews.com.
Hyperliquid posts $964,767 in 24h revenue as Grayscale sees its move beyond crypto into 24/7 blockchain markets. Hyperliquid is being described by Grayscale as more than a crypto derivatives venue. The platform has expanded from perpetual futures into tokenized stocks, commodities, prediction markets, and other assets. Its latest 24-hour revenue reached $964,767, but that amount did not fully cover HYPE rewards, which left mild inflation for the day. Grayscale Frames Hyperliquid As Blockchain Market Infrastructure Grayscale has described Hyperliquid as a blockchain-based financial infrastructure platform, not only a crypto exchange. The view places Hyperliquid in a wider market group, alongside venues such as Nasdaq, CME, and Kalshi. The report said Hyperliquid could support “24/7 markets on blockchain” if development continues and regulatory issues are managed. This view reflects the platfor
The post Youtuber Warns Bitcoin Bottom Is Not In as Stablecoin Dominance Hits Risk-off Level – Bitcoin News appeared on BitcoinEthereumNews.com.
Key Takeaways Tether burned $1.2 billion in 24 hours on May 31, matching a pattern that preceded Bitcoin’s drop from $90,000 to $60,000 in February 2026. Blackrock removed $2.1 billion in bitcoin over ten days while firms like Strive acquired 1,100 BTC in a single session, reflecting a split in institutional conviction. Polymarket priced an 85% chance Bitcoin reaches $70,000 before $90,000, with TradingView moving averages confirming a strong sell posture at current levels. 1-Hour Chart: Compression at Resistance On the 1-hour chart, bitcoin has built a series of higher lows since testing $73,100, which is a structure that hints at short-term buying interest. However, price has repeatedly been rejected near $74,100 to $74,200, and the repeated ceiling tests have compressed price into an increasingly tight range. The intraday support zone sits
Hyperliquid posts $964,767 in 24h revenue as Grayscale sees its move beyond crypto into 24/7 blockchain markets. Hyperliquid is being described by Grayscale as more than a crypto derivatives venue. The platform has expanded from perpetual futures into tokenized stocks, commodities, prediction markets, and other assets. Its latest 24-hour revenue reached $964,767, but that amount […]
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The post Roman Storm Accuses the DOJ of Weaponizing Debanking to Sabotage His Legal Defense appeared on BitcoinEthereumNews.com.
Key Takeaways Roman Storm accused the DOJ of using debanking during his trial, highlighting crypto’s market utility. After GoFundMe blocked him, Storm used crypto to sustain his defense after being debanked. Facing a 2nd trial for money laundering, Roman Storm will next rely on crypto donations to survive. Tornado Cash Roman Storm: ‘I’ve been debanked. Multiple times’ Roman Storm, the developer of the Ethereum mixing protocol Tornado Cash, convicted of conspiracy to operate an unlicensed money transmitting business, has accused the Department of Justice (DOJ) of weaponizing debanking in its prosecutorial processes. On social media, Storm rebuked statements by Jackie Reses, co-founder and CEO of Lead Bank, who referred to debanking as an “absolute crock of shit.” “There’s 5,000 banks in the United States. We have a lot of red states. Are you telling me that in
