Logan Paul Accused of Misleading Fans Over Crypto Investments
- Logan Paul accused of misleading fans over crypto investments.
- 450 firearms seized during illegal gambling probe.
- FanDuel Network shows industry bought and paid for by gambling.
Cryptocurrencies
Logan Paul Accused of Misleading Fans Over Crypto Investments
Logan Paul, the massively popular social media personality with more than 23 million followers on YouTube, is facing fresh questions over his cryptocurrency dealings amid ongoing concerns he may have profited from misleading fans.
The BBC has seen new evidence suggesting he promoted investments without revealing he had a financial interest in them.
Paul also currently faces a multi-million-dollar lawsuit over a failed crypto project called CryptoZoo.
To play CryptoZoo, it was necessary to buy a cryptocurrency called Zoo Token, that could then be used to buy NFT “eggs”.
Paul’s team claimed these hybrid animals would somehow make participants money by passively generating more Zoo Tokens, according to the BBC.
The BBC has discovered that shortly before Paul tweeted about a particular crypto coin in 2021, an anonymous crypto wallet with close connections to his public wallet had traded in the coin.
From the BBC:
The anonymous crypto wallet analysed by the BBC appears to have close connections to Paul.
Anyone can see the transactions made by a wallet, but the owner can choose to remain anonymous. If an owner attaches their name or personal details it becomes a public wallet.
We could see that the wallet first received funds in February 2021 from a public wallet owned by Logan Paul. It then started buying and trading crypto.
The BBC notes that, according to Gary Gensler, the head of the Securities and Exchange Commission (SEC), the body policing the US investment industry, if a celebrity is promoting a particular crypto token, they are “supposed to tell you if they get paid, how much they get paid, whether they own the tokens, whether they made money on the tokens, whether they actually know something about the project”.
Paul denies any wrongdoing.
Brother Jake, who just fought and beat Mike Tyson, raised $50 million alongside sports betting entrepreneur Joey Levy to launch a sportsbook called Betr.
Stephen A. Smith, Others Party at 2024 PrizePicks World Championship in Atlanta
Stephen A. Smith hang out with other celebrities, athletes and influencers at the 2024 PrizePicks World Championship. Smith has partnered with PrizePicks through his podcast, The Stephen A. Smith Show.
During the event, Smith and actor/producer Jason Zone Fisher introduced the teams that competed for $100,000 and the right to be called the 2024 PrizePicks World Champion. Rapper Rubi Rose defeated the likes of comedian and actor, Druski, UFC fighter Sean O’Malley, and YouTuber Sketch to win it all.
Crime
Investigation Into Illegal Gambling Led to Seizure of Over 450 Firearms in Tucson
(Arizona Republic) - Over 450 guns and more than $4,000 were seized during an investigation into an alleged illegal gambling operation in Tucson.
The investigation by the Arizona Department of Gaming and Arizona Department of Public Safety resulted in the arrest of two unidentified individuals. They both face multiple felony charges, according to the Gaming Department.
The agencies seized 452 guns, ammunition, firearm accessories, more than $4,000 in cash and bank accounts after concluding their investigation into alleged illegal gun raffles on Oct. 30.
"Record-breaking seizures like this only further highlight the criminal activity that illegal gambling establishments attract when they go unregulated, posing a significant threat to public safety," said Jackie Johnson, director of the Arizona Department of Gaming.
Gambling News
Fanduel Network Shows an Industry Bought and Paid for by Gambling
The Diamond Sports Group, a bankrupt operator of 16 regional sports networks, last month rebranded its channels as the FanDuel Sports Network. They were previously known as Bally Sport. Both Bally and FanDuels have ties to gambling. That latter is viewed as more of a hipper brand, hence the name change.
Amid the normalization of gambling, betting companies are resembling broadcasters and vice versa, reports Tom Dart of the Guardian.
A convergence is taking place as gaming firms embed themselves in the sports media landscape while traditional media add gambling content, both responding to demand and perpetuating it.
Dart notes it is becoming more difficult for sports fans to find a mainstream provider that does not have a stake in the gambling sector.
The Diamond and FanDuel partnership “is a more direct connection to mobile sports betting, an evolution” of the Bally’s arrangement, says Patrick Crakes, a media consultant and former Fox Sports executive. “It’s taking advantage of the folks who are there and adding another level of engagement that can be monetized. For some folks it will be the primary reason why they’re engaging… the only reason why they’re watching a game is because they’re gaming.”
Social Gambling
Monkey Tilt Raises $30 Million in Push to Make Online Gambling More Social
LAS VEGAS, (Press Release) -- Monkey Tilt, the platform pioneering a new era of entertainment and online gaming experiences, announced today $30M in Series A funding. Launched in March 2024, Monkey Tilt is pioneering the next frontier of gaming and bringing together the most trusted executives and voices across the industry to deliver an optimal, modern gaming experience.
The round, which closed this past summer, was led by Pantera Capital, with participation from Polychain Capital, PokerGo, Hack VC, Dream Ventures, Accomplice, Mirana, and Josh Hannah. This latest funding brings the total amount of capital raised to over $50M USD.
Monkey Tilt is an entertainment-first company that combines traditional casino experiences with improved social and lifestyle integrations. The company capitalizes on its multi-currency crypto payment infrastructure to accommodate wagering with a wide range of digital assets. The platform includes dealer-led craps, roulette, a 24/7 sportsbook, and more. In just under a year, Monkey Tilt has become a destination for both seasoned gamblers and rookie users alike who are eager to game in a more entertaining and engaging way, with like-minded individuals.
"The reality is this industry has failed to keep up with how people want to game, connect, and interact. Monkey Tilt was designed to completely upend what we think of as the traditional gaming experience," said Founder and CEO Sam Kiki. "What we're creating is immersive, engaging, and culturally relevant – and everyone is recognizing it."
Coming out of launch earlier in 2024, Monkey Tilt has already generated a large and loyal following through an innovative product suite that blends traditional casino games, sports, poker and crypto all in one platform and brand.
"Monkey Tilt is pushing the online gaming world into a new era that's heads and shoulders above the rest of the market," said Ryan Barney of Pantera Capital. "Sam has already proven to be an authoritative leader in this space, and we're so proud to back a platform that's genuinely shaping the future of entertainment."
Monkey Tilt is now looking ahead to an exciting 2025 that will include the launch of a new crypto trading gamified product in Q1 that will excite first-time and long time players alike. In its pursuit to innovate and deliver for players, Monkey Tilt will continue to push the boundaries of what is possible in online gaming.
About Monkey Tilt
Monkey Tilt's mission is to redefine how the world engages with gaming, leveraging the power of blockchain to enhance every aspect of the player experience. Monkey Tilt is more than gaming and entertainment —it's a lifestyle brand that spans from fashion to media.
