Today in crypto, France-listed Capital B shareholders approved up to $120 billion in financing capacity to fund future Bitcoin buys. In the US, former FTX executive Ryan Salame\u2019s wife will face campaign finance charges, and gambling industry groups urged the Senate to clarify that the CFTC doesn\u2019t have authority over prediction markets.<\/p>\n
Capital B shareholders approve up to $120 billion in financing capacity<\/h2>\n
France-listed Bitcoin treasury company Capital B’s shareholders approved authorizations allowing the company to raise up to 105 billion euros ($120.4 billion) to fund future Bitcoin purchases<\/a>.<\/p>\n Over 95% of shareholders approved the establishment of up to\u00a05 billion euros in capital increases<\/a>, equivalent to as many as 125 billion new shares at the current nominal value, as well as the issuance of up to 100 billion euros in credit instruments, Capital B\u00a0announced<\/a>\u00a0on Wednesday.<\/p>\n The company said the issuance of the new capital instruments will \u201caccelerate its Bitcoin accumulation strategy, focused on increasing the number of Bitcoin per fully diluted share over time.\u201d<\/p>\n Source: Capital B<\/em><\/p>\n During its general meeting on Wednesday, Capital B reported 300.65 million in total shares with voting rights. If fully exercised, issuing 125 billion in new shares would result in existing shareholders being diluted to about 0.24% of the company\u2019s ownership.<\/p>\n Michelle Bond, the wife of imprisoned former FTX executive Ryan Salame, will face illicit campaign finance charges<\/a> after a judge on Wednesday rejected her argument that prosecutors promised Salame that she would be cleared if he pleaded guilty.<\/p>\n Manhattan federal judge George Daniels denied Bond\u2019s bid to dismiss an indictment alleging Salame crafted a consulting agreement between Bond and FTX to pay her $400,000 to help bankroll her unsuccessful congressional run in 2022.<\/p>\n Michelle Bond (left) and Ryan Salame (right) leaving a Manhattan courthouse in August 2024. Source: <\/em>YouTube<\/em><\/span><\/a><\/p>\n Bond claimed that then-Manhattan US Attorney Danielle Sassoon told her lawyer in a 2023 meeting that if Salame pleaded guilty, then prosecutors would \u201cconclude the aspects of our investigation that concern\u201d him.<\/p>\n But Judge Daniels said evidence shows prosecutors \u201chad not promised Bond’s immunity by the time Salame entered his guilty plea,\u201d and that one of Bond\u2019s former lawyers admitted she \u201cdid not believe Sassoon’s statement was a promise at the time it was made.\u201d<\/p>\n Salame, the former co-CEO of FTX\u2019s Bahamian subsidiary, FTX Digital Markets, was sentenced in May 2024 to seven and a half years in prison after pleading guilty to conspiring to make illegal political contributions and operating an illegal money transmitter.\u00a0<\/p>\n Several national gaming and tribal organizations and labor groups<\/span><\/a> have reportedly called on the US Senate to add language \u201cthat explicitly prohibits event contracts tied to sports and casino-style gaming\u201d in the Digital Asset Market Clarity (CLARITY) Act.<\/p>\n According to a Wednesday Semafor report, groups tied to sports betting, including the Indian Gaming Association and American Gaming Association have united<\/span><\/a> against what they called gambling on prediction markets. They requested that the US Congress use the CLARITY Act now under consideration in the Senate to affirm that \u201csports betting falls outside the [Commodity Futures Trading Commission\u2019s] remit and cannot be offered through prediction market platforms.\u201d<\/p>\n \u201cWhile our organizations may differ on other issues, including gambling policy, we are united in our concern that prediction markets have fueled the largest expansion of gambling in US history over the past 18 months \u2014 without voter approval or legislative authorization,\u201d said the letter.<\/p>\n The pushback from the groups comes as the Commodity Futures Trading Commission (CFTC) under Chair Michael Selig has claimed \u201cexclusive jurisdiction\u201d over prediction markets. Selig has led the financial regulator in supporting platforms like Kalshi and Polymarket<\/span><\/a> against lawsuits by state-level gaming authorities.<\/p>\nWife of FTX exec Salame to face campaign finance charges<\/h2>\n
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<\/figure>\n<\/p>\nGaming groups urge Congress to ban prediction markets sports betting in CLARITY Act<\/h2>\n
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