In a landmark enforcement case, two men behind a major crypto investment fraud operation in the United Kingdom have been sentenced to prison for their role in scamming dozens of victims out of more than £1.5 million.

The scheme involved selling fake cryptocurrency investments through cold calls and boiler room tactics — a method increasingly used by fraudsters to target unsuspecting investors eager to participate in the fast-moving digital asset space.

FCA Cracks Down on Crypto Investment Fraud

The U.K.’s Financial Conduct Authority (FCA) charged Raymondip Bedi and Patrick Mavanga with conspiracy to defraud and money laundering. According to the FCA, the pair ran an operation that pitched non-existent cryptocurrency opportunities, falsely promising high returns.

Instead, they siphoned the victims’ money into personal accounts, with funds spent on luxury items and lifestyle expenses. The FCA’s investigation revealed that many victims were pressured into investing through aggressive sales tactics and false claims about the legitimacy of the assets.

At Southwark Crown Court, Bedi was sentenced to five years and four months, while Mavanga received a six-and-a-half-year prison term.

“Bedi and Mavanga ruthlessly defrauded dozens of innocent victims, and it is right that they have received these prison sentences,” said Steve Smart, joint executive director of enforcement and market oversight at the FCA. “Criminals need to be clear that there is a cost to committing crime and we will seek to make them pay.”

Victims Targeted Through Cold Calls

The scam operated similarly to a boiler room, a term used to describe high-pressure sales environments where victims are coerced into investing in worthless or fake assets.

Many of the individuals targeted were retail investors with little knowledge of crypto markets. Lured by the promise of rapid gains and professional-looking materials, they handed over thousands of pounds — only to realize later that the investments never existed.

Some victims had invested their life savings, and the emotional and financial toll has been devastating. According to victim impact statements submitted during sentencing, several people were left in debt, and others reported mental health issues stemming from the stress of the scam.

Authorities Seek Asset Recovery

In addition to prison time, the FCA has launched confiscation proceedings against Bedi and Mavanga under the Proceeds of Crime Act. The goal is to disgorge illicit profits and compensate victims where possible.

The case signals a more aggressive posture by U.K. regulators in cracking down on crypto investment fraud. In recent months, the FCA has expanded its enforcement efforts against unauthorized crypto operators and tightened rules around marketing digital assets.

Growing Scrutiny on Crypto Scams Globally

While this case took place in the U.K., the problem of crypto-related fraud is global in scope. In the U.S., the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have both ramped up enforcement. In one recent case, the SEC charged a promoter for misleading investors about a tokenized project’s revenue potential.

Public companies that facilitate crypto transactions are also under scrutiny. Exchanges like Coinbase (NASDAQ:COIN) and Robinhood (NASDAQ:HOOD) have been urged by regulators to improve transparency and investor protections as scams continue to emerge in the space.

Final Thoughts: A Warning to Fraudsters

The U.K. court’s sentencing sends a clear message: crypto investment fraud will not go unpunished. As crypto markets evolve, law enforcement and regulators are ramping up their ability to detect and dismantle fraudulent schemes — and hold perpetrators accountable.

For retail investors, the case is a stark reminder to remain cautious. Promises of guaranteed returns and unsolicited investment offers are red flags. Investors should verify credentials and check if firms are authorized by the FCA or other regulatory bodies.

As Steve Smart of the FCA warned, “We will not hesitate to pursue those who exploit trust and target the vulnerable through crypto scams.”

The era of unregulated crypto promotion is coming to an end — and those who cross the line now risk not just financial penalties, but prison.

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Ethereum institutional adoption is moving from theory to reality, as the network proves its staying power in the evolving world of global finance. At the recent Ethereum Community Conference (EthCC) held in Cannes, France, industry leaders, developers, and institutional giants gathered to spotlight Ethereum’s growing role as the infrastructure layer of Wall Street and beyond.

The scene was more Cannes Film Festival than crypto conference — with the iconic red-carpeted Palais des Festivals hosting keynotes instead of movie premieres. But the real star of the show was Ethereum’s accelerating transformation from decentralized experiment to the foundation of institutional finance.

Robinhood’s Bold Crypto Pivot

One of the most striking moments of the week came when Robinhood (NASDAQ:HOOD) announced it would launch tokenized U.S. stocks and ETFs for European users via Arbitrum, a Layer 2 protocol built on Ethereum. This marks a historic milestone — making Robinhood the first publicly traded U.S. company to launch tokenized equities on a blockchain.

The move not only fueled a rally in Robinhood stock — pushing it over $100 for the first time — but also underlined the momentum of Ethereum institutional adoption. Rather than speculative hype, the conversation this year centered on Ethereum’s practical use as Wall Street’s new plumbing.

Ethereum as a Treasury Asset

Several public companies are already reshaping their financial strategies around Ethereum. BitMine Immersion Technologies (OTC:BMNR) saw a meteoric 1,200% gain after declaring ether as its primary treasury reserve. Similarly, Bit Digital (NASDAQ:BTBT), which shifted away from bitcoin mining to focus solely on Ethereum staking, climbed over 34% in a single week. SharpLink Gaming (NASDAQ:SBET) added more than $20 million worth of ether to its balance sheet, gaining over 28% in one day.

These bold moves signal a growing trend: Ethereum is not just a technology platform; it’s an emerging financial asset and strategic pillar for companies embracing the future of decentralized finance.

Institutions Bet on Ethereum’s Stability

While Ethereum’s price remains down over 20% year-to-date and trails Bitcoin in market cap, its utility and reliability are winning over institutional players. Ether ETFs have seen two consecutive months of net inflows, signaling renewed investor confidence. According to CoinGlass, these funds now manage around $11 billion in assets — a modest sum compared to $138 billion for Bitcoin ETFs, but growing steadily.

Paul Brody, Global Blockchain Leader at EY, emphasized Ethereum’s long-term appeal: “Institutions are plugging Ethereum into core financial systems not just because it’s fast or cheap, but because it offers dependable, programmable functionality.”

Vitalik Buterin, Ethereum’s co-founder, echoed the sentiment. In his keynote at EthCC, he said institutions consistently praise Ethereum’s reliability: “They value that it doesn’t go down.”

The Tokenized Future Is Being Built on Ethereum

The momentum behind Ethereum institutional adoption is not just theoretical. Deutsche Bank is developing a tokenization platform on zkSync, a Layer 2 network on Ethereum, to help manage tokenized funds and stablecoins. Meanwhile, Coinbase (NASDAQ:COIN) has filed with the SEC to offer trading of tokenized public equities, and Kraken is preparing to launch 24/7 tokenized stock trading in select international markets.

Stablecoins continue to dominate Ethereum’s financial rails. Circle’s USDC — the second-largest stablecoin — still processes about 65% of its volume on Ethereum. And BlackRock (NYSE:BLK) is pioneering institutional finance on Ethereum with its BUIDL fund, offering real-time redemptions in USDC.

The Road Ahead: Scaling Without Compromise

Despite competition from faster blockchains like Solana, Ethereum’s core values — neutrality, censorship resistance, and security — remain its greatest strengths. Tomasz Sta?czak of the Ethereum Foundation noted that institutions choose Ethereum because it guarantees fairness, reliability, and transparent execution.

The final takeaway from Cannes? Ethereum institutional adoption isn’t a trend — it’s a structural transformation. With developers, regulators, and corporations aligning behind Ethereum, the network is poised to power the financial systems of the future.

As Buterin put it: “We don’t just want to succeed. We want to be something that is worthy of succeeding.”

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HONG KONG, July 3, 2025 /PRNewswire/ — From the first personal computers entering households, to smartphones reshaping social interaction and information access, and later the Internet of Things connecting everything — with AI permeating every corner of life — each major technological leap has often begun with a pivotal “expo gathering.”

Now, at the turning point where physical devices are gradually integrating with blockchain, the Web3 world is ushering in its own “expo moment.” DePIN Expo 2025, an innovative industry exhibition focused on on-chain hardware and the convergence of the physical and crypto worlds, is set to debut this summer in Hong Kong.

CES: A Global Tech Industry Barometer Spanning Half a Century

Since its founding in 1967, CES (Consumer Electronics Show) has been a global barometer for the tech industry. From smartphones, tablets, and the Internet of Things to wearables, smart homes, autonomous driving, and AI voice assistants — countless groundbreaking hardware products have made their global debut at CES.

It’s no exaggeration to say that nearly every major shift in human lifestyle over the past 60 years can be traced back to a CES showcase.

What makes CES so significant is not just its display of new technologies, but its ability to define how those technologies will truly transform the world. CES is not only the tech industry’s annual proving ground — it is a “real-world showroom” forecasting the future of how we live.

From DePIN to MetaDePIN: Reconstructing the Value of Hardware, Data, and Incentives

In the early stages of Web3, the conversation centered around protocols, assets, and financial logic. Since 2024, however, a new trend has started to gain traction: DePIN (Decentralized Physical Infrastructure Networks).

DePIN is emerging as one of the most tangible and impactful sectors within the Web3 landscape. Physical-world devices such as routers, electric vehicles, cameras, home gateways, and logistics trackers are no longer just networked — they are becoming on-chain. These devices serve as “nodes” in blockchain networks, participating in global coordination and generating real-world revenue. DePIN brings the concept of “on-chain” from virtual environments into physical spaces — from lines of code to cities and homes.

The number of DePIN projects worldwide has grown from 650 in 2022 to 1,170 in 2024 — an almost 12-fold increase. More than 13 million devices now participate in DePIN networks daily. According to Messari, the DePIN market is projected to reach a value of $3.5 trillion by 2028.

Today, with the rise of use cases such as RWA (Real World Assets), AI agents, and edge computing, DePIN is moving beyond simple hotspot miners and low-power devices. It is evolving into a broader network of devices, economic systems, and real-world applications: a payment card linked directly to on-chain DeFi networks; an electric vehicle automatically recording carbon credits on-chain and navigating via AI; a network of AI-powered cameras capturing urban traffic data, registering it on-chain, and triggering incentive mechanisms.

This converging trend is what we call MetaDePIN — a new paradigm of DePIN that spans hardware form factors, incentive protocols, AI systems, and real-world assets.

DePIN Expo 2025: The “Web3 CES” Officially Launches in Hong Kong

To showcase the powerful convergence of hardware and blockchain, DePIN Expo 2025 will be held on August 27–28, 2025, at Cyberport, Hong Kong.

This is the world’s first industry-level event dedicated to the DePIN concept, and the first large-scale consumer tech expo in Web3 history centered around on-chain hardware.

Event Highlights:

• Industry First: The world’s first flagship event focused on DePIN (Decentralized Physical Infrastructure Networks)
• Top-Level Support: Guided by the Hong Kong SAR government, with collaboration from Stanford University, UC Berkeley, and Barron’s China
• Cross-Industry Integration: Spotlight on DePIN × RWA, AI convergence, machine economy, hardware manufacturing, cross-border logistics, and immersive real-world demos
• Business Enablement: Dedicated zones for bulk trading and private traffic matchmaking to accelerate large-scale deployment and precise conversion for DePIN projects

The goal of DePIN Expo is not merely to showcase “how devices go on-chain,” but to create a Web3 version of CES — a platform that bridges technological breakthroughs and real-world experiences, connects capital markets with manufacturing networks, and links the on-chain world with the physical economy. On-site, the expo will feature dozens of MetaDePIN devicesacross seven key application categories, including compute, network, sensing, identity, energy, logistics, and infrastructure:

• Compute: Home mining rigs, AI companions, smart speakers, gaming render nodes, edge computing terminals
• Wireless: DePIN smartphones, eSIM cards, 5G routers, home WiFi hotspot devices, broadband boxes
• Sensors: Smartwatches, smart rings, cameras, dashcams, video doorbells, air quality monitors
• Identity: Iris scanners, U-cards, hardware wallets, Web3 ID cards, mobile identity tags
• Energy: Residential solar panels, EV charging adapters, home battery storage systems, shared charging stations
• Logistics: Autonomous vehicles, robots, encrypted delivery boxes, cold-chain logistics nodes
• Infrastructure: Public blockchains, oracles, decentralized data storage, smart contract gateways, trusted hardware modules

Event Agenda:

• August 26 (Evening): Official Event

DePIN Power On Night

• August 27 (Morning): Opening Day

Government representatives and industry leaders will discuss the future of DePIN applications. Closed-door sessions and on-site visits will kick off a new chapter in on-chain and real-world integration.

• August 27 (Afternoon): DePIN × Everything

Focus on DePIN’s core role in connecting millions of users, reshaping asset paradigms, and expanding the crypto hardware ecosystem.

• August 27 (Evening): Side Event

DePIN After Dark: Builder & KOL Private Night

• August 28 (Morning): DePIN × AI

Explore how DePIN and AI are redefining the compute value stack, enabling device autonomy, on-chain model deployment, and large-scale machine economy applications.

• August 28 (Afternoon): DePIN × RWA

Deep dive into how DePIN enables the tokenization of real-world assets—reconstructing data ownership, revenue models, and trust layers for global asset allocation.

• August 28 (Evening): Official Event

DePIN Never Offline Night

In addition, DePIN Expo 2025 will host a series of high-level forums in collaboration with Stanford University, UC Berkeley, Barron’s China, Bitcoin Magazine, and others — spotlighting topics like AI × DePIN, RWA asset validation, and global node ecosystems. For the first time, the event will also connect the entire value chain — from design and manufacturing to overseas deployment — creating a comprehensive DePIN industry collaboration platform.

Hong Kong: The Premier Global Hub for DePIN

As one of the few international financial cities actively supporting the convergence of Web3 and the real world, Hong Kong is emerging as the ideal ground for the rise of DePIN. In recent years, the Hong Kong SAR government has introduced a regulatory framework for virtual assets, launched pilot programs for stablecoins and tokenized assets, and sent strong policy signals in support of real-world Web3 applications.

Geographically, Hong Kong is within a one-hour reach of Shenzhen, Dongguan, and Foshan — major hardware manufacturing and OEM hubs in mainland China. This proximity enables a seamless link between on-chain demand and offline factories, creating a new collaborative model of “decentralized orders + physical production lines,” and providing DePIN with unprecedented advantages in manufacturing and deployment.

At the same time, Hong Kong is home to leading exchanges and crypto funds, and serves as a natural gateway to emerging markets such as Japan, South Korea, Singapore, and the Middle East. Over the past year, the city has hosted a series of major international crypto conferences (such as Consensus Hong Kong and Bitcoin Asia), fueling a powerful convergence of capital and talent and cementing its role as a preferred destination for Web3 entrepreneurship and global exchange.

At DePIN Expo 2025, a dedicated “DePIN Urban Demo Zone” will be unveiled, using Hong Kong as a prototype to showcase how on-chain hardware can be deployed, operated, and settled at a city scale. This marks the first time in Web3 history that DePIN is being presented through a city-wide lens, signifying a shift from “hardware lab” to “infrastructure platform.”

The successful hosting of DePIN Expo 2025 will establish Hong Kong as the global flagship for a “Web3 CES,” further solidifying its position as a leading center of crypto innovation in Asia and beyond. We look forward to it together.

Countdown Begins • Join Us in Shaping the Future

If you are a hardware manufacturer, public blockchain platform, AI developer, RWA project, manufacturing enterprise, supply chain partner, investment institution, tech community, or media outlet focused on or exploring DePIN-related applications — we invite you to join us in witnessing and building this historic moment for the DePIN industry.

Secure your opportunity for early exposure and on-site visibility — register now: 

Event Registration :https://lu.ma/1qol9wna
Official Website :https://depinexpo.ai
Business Inquiries : sponsor@depinexpo.ai
Media Partnerships : media@depinexpo.ai

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The BlackRock Bitcoin ETF (IBIT) has rapidly emerged as a transformative force in the financial world. Since its launch just 18 months ago, the iShares Bitcoin Trust (IBIT) has ballooned to over $75 billion in assets under management (AUM). This meteoric rise signals a powerful shift: crypto is no longer a fringe asset—it’s becoming a core component of institutional portfolios.

The BlackRock Bitcoin ETF now generates more annual fee revenue than its own flagship equity fund, iShares Core S&P 500 ETF (NYSEARCA:IVV), despite managing just a fraction of the assets. As the U.S. Securities and Exchange Commission (SEC) mulls the approval of BlackRock’s proposed in-kind redemption model, investors and analysts alike are watching closely. Could this change mark the final step toward full crypto mainstream adoption?

Demand Defies the Fee Structure

IBIT’s 0.25% management fee may seem high compared to traditional ETFs, but it hasn’t scared off investors. In fact, the BlackRock Bitcoin ETF has captured $52 billion of the $54 billion total inflows into U.S. spot Bitcoin ETFs to date. Its fee revenue—an estimated $187 million annually—has already outpaced the long-established IVV.

This speaks volumes: investors are willing to pay more for secure, regulated access to Bitcoin. BlackRock CEO Larry Fink’s characterization of Bitcoin as a “flight to quality” and a modern diversification asset only underscores this strategic repositioning.

In BlackRock’s latest Q2 report, analysts highlight Bitcoin’s growing role in diversifying portfolios in an age when traditional asset correlations—particularly between stocks and bonds—are breaking down. Bitcoin’s relatively low correlation with both equities and bonds makes it an increasingly attractive hedge in today’s volatile macro environment.

The SEC and the Future of In-Kind Redemptions

The SEC’s decision on whether to allow in-kind redemptions—where investors can exchange actual Bitcoin for ETF shares—is delayed until late 2025. The outcome could be a game-changer for the BlackRock Bitcoin ETF and the broader crypto investment landscape.

Currently, cash-based redemptions are standard for spot Bitcoin ETFs. But in-kind functionality could:

• Lower operational costs for institutions

• Enhance liquidity and scalability

• Attract even more conservative capital, such as pension funds and endowments

Approval would send a strong message that regulators see Bitcoin not only as a viable asset but as a foundational building block for the next generation of investment products.

Portfolio Revolution: The 60/40 Model Under Pressure

For decades, the 60% equity/40% bond portfolio mix has ruled institutional investing. But IBIT’s performance—and Bitcoin’s inverse correlation with both major asset classes—suggests a shake-up is underway.

BlackRock’s internal data shows that adding 1–2% Bitcoin allocation to a 60/40 portfolio meaningfully boosts risk-adjusted returns. With the BlackRock Bitcoin ETF acting as the bridge between crypto and traditional finance, asset managers are starting to rethink allocation frameworks.

While IBIT’s $75 billion AUM is still small compared to BlackRock’s total ETF footprint, it represents a significant toehold—and a beachhead for crypto’s institutional conquest.

Key Takeaways for Investors

• Watch the SEC: The late-2025 ruling on in-kind redemptions could unleash a wave of new inflows—or force a regulatory rethink.

• Consider IBIT for Regulated Exposure: Investors wary of self-custody or unregulated exchanges can rely on the BlackRock Bitcoin ETF for credible crypto access.

• Track Macro Trends: Economic slowdowns, central bank policy shifts, and geopolitical uncertainty all favor Bitcoin as a “crisis hedge,” reinforcing IBIT’s appeal.

Conclusion: Crypto’s Institutional Era Has Begun

The success of the BlackRock Bitcoin ETF marks a turning point in crypto’s evolution. It’s not just about price action anymore—it’s about legitimacy, scale, and integration into the financial mainstream. With the SEC’s decision looming and institutional interest accelerating, IBIT could become the blueprint for a new era in digital asset investing.

The message for investors is clear: crypto’s fringe days are over. Whether through fee-generating ETFs or core asset allocations, Bitcoin has entered the institutional conversation—and it’s here to stay.

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Bitcoin (BTC) may be hovering near record highs, but crypto entrepreneur and BitMEX co-founder Arthur Hayes is issuing a word of caution. According to Hayes, the Bitcoin price forecast now includes a possible retracement to $90,000—even as the long-term trend remains bullish.

The warning comes in the wake of the passage of President Donald Trump’s so-called “Big Beautiful Bill”, which combines tax cuts with an increase in the U.S. debt ceiling. While this may sound like a market-friendly move, Hayes argues it could temporarily drain liquidity from financial markets—and drag down Bitcoin with it.

Trump’s “Big Beautiful Bill” and the Treasury Impact

On Wednesday, July 2, the House passed Trump’s new fiscal bill, which had already cleared the Senate. President Trump is expected to sign it into law on Independence Day, July 4. The bill, which aims to cut taxes and raise the debt ceiling, may sound pro-growth at first glance. But Hayes warns of short-term fallout for risk assets, including Bitcoin.

In his latest blog post titled “Quid Pro Stablecoin,” Hayes said that the U.S. Treasury would likely refill its General Account (TGA) after the bill passes. Doing so would require the Treasury to issue new debt, soaking up liquidity from the financial system—capital that would otherwise flow into risk assets like crypto.

“Proceed with caution,” Hayes wrote. “The bull market might be interrupted for a short period of time.”

Bitcoin Near Highs—But a Dip Could Follow

As of Thursday, Bitcoin was trading at $109,594, according to CoinGecko, just 2% off its all-time high of $111,814 set in May. The coin has gained over 2% in the last seven days, but momentum is slowing.

Despite the recent rally, Hayes believes the Bitcoin price forecast includes a pullback to $90,000 in the near future. However, he maintains a long-term bullish stance, calling any correction a temporary shakeout.

Hayes: Bitcoin Still on Track for $1 Million by 2028

This isn’t the first time Hayes has made bold predictions. In May, he stated that Bitcoin could hit $1 million per coin by 2028. The rationale? A combination of central bank money printing, growing distrust in U.S. Treasury securities, and increasing demand for decentralized stores of value.

According to Hayes, as investors flee U.S. treasuries, they’re likely to pour money into alternative assets like Bitcoin. While the Bitcoin price forecast may include turbulence, the long-term trajectory remains upward—particularly if fiscal and monetary policy continue to devalue fiat currencies.

Stablecoins and Fiscal Control: What the GENIUS Act Means

Hayes also warned that the U.S. government’s interest in stablecoins is less about innovation and more about fiscal manipulation. In the same blog post, he argued that the GENIUS Act, passed by the Senate last month, is designed to limit private issuance of stablecoins.

Instead, the legislation would allow large banks to issue stablecoins—which could then be used to purchase U.S. Treasuries, effectively helping the government finance its growing debt. While it provides regulatory clarity, Hayes argues this shift could centralize control and suppress innovation in the crypto space.

Should You Buy Bitcoin Now?

The short answer: proceed with caution. The Bitcoin price forecast suggests potential for a short-term drop due to macro liquidity shifts, but the long-term picture remains bright.

Traders should prepare for volatility as the Treasury ramps up borrowing and stablecoin regulation evolves. Hayes’ projection of a dip to $90,000 might unsettle some investors—but for long-term believers, it could offer a buying opportunity before the next leg up.

Final Thoughts

Trump’s “Big Beautiful Bill” is set to reshape fiscal policy and market liquidity in the months ahead. While Bitcoin remains a top-performing asset, Arthur Hayes’ Bitcoin price forecast urges patience amid a shifting macro landscape.

In his view, a short-term dip is not a reason to panic—but a reminder that even bull markets come with bumps. For now, crypto investors would be wise to keep one eye on the charts—and the other on Washington.

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