A self-confessed crypto trading addict and father of two is facing the dire prospect of losing his family forever after secretly racking up $180,000 in debt from his crypto trading habits. Posting his story on the r/relationship advice subreddit on Feb. 21, Reddit user “Leather_Opposite2135” said he started dabbling in cryptocurrency trading around 2021. Fast forward two years to the present day and he’s been kicked out by his wife and is at least $180,000 in debt. “It started just dabbling,” said Leather. “It’s a tech space so I found it very interesting. Joined a bunch of online spaces (discord) …

A metaverse casino has been hit with simultaneous cease and desist orders from four state enforcement bodies across the United States, who have deemed the firm’s nonfungible tokens (NFTs) to be unregistered securities. Over two NFT collections offered by metaverse casino Slotie, the tokens are said to offer access to the metaverse casino, staking rewards, revenue split from its games, lotteries, and native token WATT. However, the regulators don't appear pleased with how the platform has marketed the NFTs and its alleged lack of securities registration. On Oct. 20, Texas, Kentucky, New Jersey, and Alabama state securities boards submitted orders …

Australia’s Northern Territory Racing Commission (NTRC) is consulting with its gambling licensees over a tentative proposal to incorporate crypto wagering as part of the regulated gambling industry. For the most part, gambling in Australia is regulated at the state level and not federally. The NTRC oversees all gambling and wagering companies that choose to be licensed in the Northern Territory (NT), including global wagering companies such as Betfair, Entain Group, Draft Kings and Sportsbet. As it stands, the NTRC has sent a private document out to licensees, which seeks input and feedback on what the regulatory landscape could look like …

Popular beer manufacturer Budweiser has teamed up with Zed Run to deploy tokenized Clydesdale draft horses in its virtual NFT-based horse racing and wagering game. The latest move from Budweiser adds to the $120,000 it spent on nonfungible token fan art and the beer.eth domain name it purchased via the Ethereum Name Service in August 2021. Zed Run was founded by Sydney-based Virtually Human Studio in early 2019, and its racing horse NFTs initially went for around $30 to $80 to mint but have since gone on to be highly sought-after assets that trade for thousands of dollars on secondary …

Researchers at Australia National University have teamed up with blockchain oracle provider AP13 to launch the first Quantum Random Number Generator (QRNG). The joint effort will allow Web3 entities to access a completely unpredictable random number generation system that is highly secure and free to use. Random number generators are not new, but the QRNG system is the first of its kind to generate a random number using quantum mechanics. This provides the first genuinely random number mechanism beyond the pseudo-mathematical systems currently used that may be biased or repeated. There are several traditional applications for random numbers, such as …

On Friday, Virtue Gaming, a decentralized online poker platform built on the Ethereum (ETH) blockchain, launched the first play-to-earn digital poker casino in the United States. In the U.S., only six states (Nevada, Delaware, New Jersey, Pennsylvania, West Virginia, and Michigan) have legalized and currently regulate online poker. The country has been slow to act on the subject due to concerns that international poker platforms would take revenue away from domestic, land-based gambling venues. Moreover, even in the said states, poker platforms must obtain licenses from each individual jurisdiction to operate. As a result, U.S. residents typically cannot access popular …

Cryptocurrency wallet Exodus has officially integrated with SportX, an online sports and crypto betting platform, giving users the ability to wager on esports games through smart contracts executed on the Polygon network. The partnership, which was announced Tuesday, gives Exodus’ more than 1 million users access to SportX’s decentralized betting exchange, where they can place bets on a wide range of sports and esports games using cryptocurrency. The minimum bet amount is $5, denominated in USD Coin (USDC), which can be sent directly to the Exodus wallet or exchanged from any of the 138 cryptocurrencies it supports. All markets created, …

Blockchain technology has already established itself as a technology with numerous applications in different industries. But according to FUN Token, the gaming industry can also benefit from it. We talked to Adriaan Brink, the CEO of FUN Token, who is an online gaming veteran with over 20 years in the industry, about the prospects of the online gambling industry and what decentralization has to do with it. 1. Why did you decide to launch a company in both gaming and cryptocurrency spaces? I have been in online gaming for over 20 years, starting with a lottery in 1995. When I …

The gaming industry is a multi-billionaire dollar market traditionally dominated by giant corporations like Atari, Sony, Microsoft and Nintendo, among others. Throughout their history, these major firms have aimed to provide entertaining gaming experiences to attract new players and expand their market share. However, nonfungible tokens (NFTs) are attempting to give gamers a financial incentive for playing games in the form of NFTs, in addition to providing an engaging gaming ecosystem. These games, known as play-to-earn (P2E) games are played in a Metaverse that is essentially a fictional universe. The P2E gaming model dictates that the users of the platform …

Beijing’s bid to better control money laundering and illicit transactions through a fully traceable central bank digital currency could pose a threat to the country’s popular gambling hub Macau. A hotspot for tourists — of which 70% come from mainland China — the region’s gambling business could reportedly be adversely impacted by China’s use of a digital yuan to clamp down on illegal money flows and keep its capital account better sealed. Revenues from Macau’s casino junkets — the longtime beneficiaries of Macau’s position as the only administrative region in China where gambling is legal — had already been squeezed …

Ethereum infrastructure firm ConsenSys and venture capital fund Pantera Capital have led a group of investors in a $5-million funding round for Virtue Poker, according to an announcement on Monday. Other participants in the strategic investment round included blockchain investment outfit DFG and FunFair founder Jez San. Virtue Poker, an Ethereum-based decentralized poker platform, was founded back in 2016 within the ConsenSys suite of blockchain projects. Back in 2020, the company secured a B2C — Gaming Service License from the Malta Gaming Authority. The $5-million investment will be used to bootstrap the mainnet launch of the blockchain poker platform scheduled …

Wyoming has passed a new law legalizing online sports betting in the state with gamblers able to fund their accounts with bookmakers using cryptocurrencies. Governor Mark Gordon signed House Bill 133 into law on Monday, with new guidelines expected to take effect from Sept. 1. The move sees Wyoming becoming the second state in the United States to permit online sports betting. As part of the bill, the state’s legislature recognized crypto as suitable means of making deposits into online sports betting accounts. According to the definitions under Article 1 of the legislation, cryptos, as well as digital and virtual …