Prediction markets show stark wealth concentration, with 84.1% of Polymarket traders losing money, while just 0.04% hold over 70% of profits. Legislative efforts like the BETS OFF Act aim to regulate betting on sensitive events, as concerns rise over user protections amid the entry of major financial institutions.

A suspect connected to an international cybercriminal group was arrested in Ukraine for $100 million in fraud and money laundering. Police seized $11 million in assets and $3 million in cryptocurrency. The suspect faces charges for document forgery and money laundering.

Senator Elizabeth Warren warned Elon Musk about risks tied to X Money's launch, focusing on consumer protection, national security, and financial stability, particularly with cryptocurrency features potentially increasing volatility and illicit finance.

Senator Elizabeth Warren has asked Elon Musk for details on X Money, a payments feature for X, raising concerns about stablecoin risks, regulatory issues, financial stability, and data privacy, with a response due by April 21, 2026.

The Shaoguan branch of the People's Bank of China issued a cryptocurrency risk warning, highlighting illegal activities like money laundering and scams. The public is urged to avoid crypto investments and report suspicious activities.

Farul Fatih Ozer, founder of the collapsed cryptocurrency exchange Thodex, was arrested in Istanbul, facing fraud and money laundering charges. Allegedly fleeing with $2 billion in investor funds, Ozer's case claims significant financial losses and has led to a nationwide cryptocurrency payment ban in Turkey.

Nikita Bier from Elon Musk's X hinted at a possible crypto-related product launch amid Bitcoin's recovery, stimulating discussions on potential payment and trading features. X Money, a peer-to-peer service, is set for early public access but lacks confirmed crypto features.

X product owner Nikita Bier hints at a plan to launch a product aimed at fixing the encryption industry, drawing market attention. Speculation links it to X’s financial ecosystem expansion, possibly including features such as payments, digital wallets, and stablecoins. X’s official account has not yet made a formal response. Musk says the early public version of X Money will go live in April.

Gate News updates. On April 14, People’s Daily published an article titled “Disrupting the capital markets: these irregularities by finance-and-economics self-media accounts need to be on high alert,” which singled out and criticized certain accounts that drive users to virtual-coin trading by publishing false yield information such as “one hundredfold coins” and “making millions every month trading coins.” The article cites a notice previously issued by eight departments, including the People’s Bank of China, emphasizing that business activities related to virtual currencies constitute illegal financial activities. The article states that accounts and platforms suspected of providing referral traffic and technical services for illegal virtual currency trading may violate laws and regulations and could threaten financial security and anti–money laundering efforts.

Gate News news, April 13, asset management company WisdomTree released a March monthly performance report showing that in the first quarter of 2026 its digital-asset net inflows totaled $98 million, and as of March 31 its digital-asset assets under management reached a record $867 million. The report noted that although the overall cryptocurrency market has been lackluster, WisdomTree’s digital-asset business saw significant growth thanks to the launch of tokenized money market funds. (Businesswire)