Financial failure does not faze medical marijuana millionaire and entrepreneur Maximillian White.
Europe’s wealthiest legal cannabis tycoon has faced significant misfortune, both in his own career and his father’s.
Notably, he lost $29 million in the Cypriot banking collapse of 2012. Instead of conserving his remaining funds, he purchased a Rolls Royce to drive around publicly.
“I’m a proud man. I didn’t want people to think I was lost,” he says. “I may also be a poser.” In reality, he is a hard worker unafraid of failure.
White now embraces blockchain technology and NFTs as part of his business.
He compares it to a Manhattan cocktail, where the combination of ingredients makes it great. “For me, it’s the combination of cannabis, blockchain, and crypto – you can’t go wrong.”
White began his career in music production, including working with Drake on the hit “One Dance.” He built and sold the music streaming service Beatport, earning millions.
His ventures extended to Portugal, where he created Blanco Beach, a beach club frequented by celebrities like Rio Ferdinand and performers like Tyga and Rick Ross. Although it has since closed, it showcased his diverse interests.
White, who has ADHD, says it gives him eclectic tastes in music, from classical to hip hop.
He knew he was destined to be a business builder since primary school, dressing up as an entrepreneur for a school event.
His work ethic is rooted in his early life as a chorister at Durham Cathedral, where he sang daily without breaks, even on Christmas.
White made his fortune selling medicinal marijuana worldwide and establishing Europe’s largest plantation in Portugal.
He expanded into real estate in Dubai, Majorca, and Eastern Europe, driven by the loss of his family home during childhood. His brother’s tragic death in 2022 further marked his resilience.
Legal marijuana is gaining acceptance globally, with medical use legal in over 50 countries and recreational use in nine. Despite past plans for a cannabis cryptocurrency called MEDI falling through, White remains innovative.
Collaborating with digital marketer Ricardo Capone, White integrates NFTs with his cannabis products to ensure traceability via blockchain.
Initially skeptical about NFTs as art, White was excited by their potential for smart contracts.
“Smart contracts made me delve further into the space,” he says, highlighting their business applications.
His latest project, Dr Green, uses NFTs as “unique business passes.” Holders access the Dr Green DApp to build a cannabis-selling community.
The NFTs act like licenses, tradeable and increasing in value with customer base growth.
Despite his blockchain enthusiasm, White remains cautious about cryptocurrency valuation against the dollar, questioning its decentralization.
“Our NFTs are acting like a digital key or real-world asset, where you can plug into the systems of a company that is already up and running.”
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Chinese police have uncovered a $1.9 billion underground banking racket involving the popular stablecoin Tether in Chengdu.
The operation utilized Tether to exchange foreign currencies and led to the arrest of 193 suspects across 26 provinces, according to a police report.
The report highlighted that these underground USDT operations began in January 2021.
They were primarily used to smuggle medicine, cosmetics, and investment assets overseas.
The authorities dismantled two such operations in Fujian and Hunan, freezing 149 million yuan (approximately $20 million) linked to these activities.
Despite China’s comprehensive prohibition on crypto-related activities, traders in the country continue to circumvent the ban, using crypto assets in alternative ways.
A report by Kyros Ventures indicates that Chinese traders are among the largest stablecoin holders globally.
According to the report, 33.3% of Chinese investors hold multiple stablecoins, placing them second only to Vietnam’s 58.6%.
The Chinese government has banned cryptocurrency use, cryptocurrency exchanges, and Bitcoin mining operations.
However, the local population has consistently found ways to evade these restrictions over the years.
READ MORE: Brothers Indicted for $25 Million Crypto Theft in Groundbreaking Ethereum Blockchain Exploit
At the time of the Bitcoin mining ban, China was the largest contributor to the Bitcoin network hash rate.
Remarkably, within a year of the ban, China’s mining hash rate contribution rose to second place despite the prohibition.
Similarly, after the country banned centralized exchanges, Chinese traders shifted to decentralized exchanges.
In response to the ban, the use of decentralized finance (DeFi) protocols by Chinese traders significantly increased.
Some traders also used virtual private networks (VPNs) to defy the restrictions and continue their crypto activities.
The persistence of Chinese traders in using cryptocurrencies and stablecoins like Tether highlights the challenges faced by authorities in enforcing the ban.
Despite stringent measures, the adaptability and ingenuity of the local population have allowed them to continue participating in the global crypto market.
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Gambling Cat (GAMBCAT) could turn early investors into multi-millionaires if it becomes a mainstream coin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Gambling Cat (GAMBCAT), a new Solana memecoin that was launched today, is poised to explode over 14,000% in price in the coming days.
This is because GAMBCAT has announced its first centralized exchange listing, which will be on KuCoin.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Gambling Cat can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Gambling Cat could become the next viral memecoin.
Gambling Cat launched with over $6,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Gambling Cat on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Gambling Cat by entering its contract address – B4BQTfBJ6uQYkzaZyQjTmH7k3c9gzXQ3FrPMPDstpYAn – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like GAMBCAT.
Hoak, a developer for the Solana-based Cypher Protocol, has publicly admitted to stealing nearly $300,000 in user funds and subsequently gambling them away.
His confession was made through a post on X on May 14, where he stated, “To address the elephant in the room, the allegations are true, I took the funds and gambled them away.
“I didn’t run away with it, nor did anyone else.”
This admission followed a previous revelation by another core contributor, Cobra, who highlighted the missing funds in a post a day earlier.
Cobra detailed the theft in his post, explaining how Hoak systematically withdrew funds over several months from the cypher redemption contract, converting them into different cryptocurrencies and transferring them to Binance.
The transactions involved multiple steps and intermediary wallets, and totaled $317,000 in Solana, Tether (USDT), and USD Coin. On-chain data traced these movements back to Hoak’s associated addresses.
At the time of the thefts, Hoak’s wallet contained significant amounts of digital assets, which were mostly transferred to Binance within a few days in April.
These actions have further damaged the reputation of the Cypher Protocol, which had already suffered a major hack in August 2023, resulting in the loss of over $1 million in digital assets.
Hoak, addressing the motivations behind his actions, attributed the thefts to a severe gambling addiction and other psychological issues.
He expressed, “I am also in no way, shape, or form attempting to victimize myself, but this is the culmination of what snowballed into a crippling gambling addiction and probably multiple other psychological factors that went by unchecked for too long.”
The case of Hoak raises concerns about the prevalence of gambling behavior within the cryptocurrency industry, often criticized for its casino-like environment.
Gary Gensler, Chair of the United States Securities and Exchange Commission, has likened the crypto ecosystem to “casinos in the Wild West,” calling stablecoins the “poker chips” of the space.
Moreover, a 2023 YouGov survey found a significant correlation between harmful gambling and cryptocurrency ownership, suggesting that those who gamble at risky levels are also more likely to engage in crypto trading, potentially exacerbating their financial vulnerability.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Diamond Paws (DIAPAWS) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Diamond Paws (DIAPAWS), a Solana memecoin that was launched yesterday, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and Diamond Paws presents a similar opportunity.
DIAPAWS rallied over 700% in the first few hours after its launch, before consolidating as some early buyers cashed out their profits.
However, most investors are still holding their tokens, as they are waiting for DIAPAWS to be listed on MEXC later this week, as this listing will cause the coin’s price to skyrocket.
Its current price presents a great opportunity for new investors to buy the dip before the next rally.
DIAPAWS has a market cap below $9,,000 at the moment, meaning that when it just reaches a modest market cap of around $200,000-$500,000, early investors would generate returns of 2,000%-3,000% in a matter of days or hours.
The exciting memecoin is poised to rally another 12,000% in the coming two days, and Diamond Paws (DIAPAWS) could potentially reach a multi-million dollar market cap within a few weeks.
Currently, DIAPAWS can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy Diamond Paws (DIAPAWS) on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for DIAPAWS by entering its contract address – HCEn3J1sKqMqPxrQDE33rGhJvyXh4r3YgyzD2wiAm3ga – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like DIAPAWS.
pStake Finance, supported by Binance Labs, recently introduced its liquid staking solution for Bitcoin, marking a significant advancement in Bitcoin-native decentralized finance (DeFi).
This new solution, developed on Babylon’s Bitcoin staking protocol, is designed to simplify the Bitcoin staking process while providing additional opportunities for Bitcoin holders to generate yields.
Mikhil Pandey, co-founder and chief strategy officer of pSTAKE Finance, emphasized the company’s commitment to enhancing Bitcoin’s functionality as a yield-generating asset.
He stated, “Having fundamental faith and belief in Bitcoin, yields, and constantly identifying and solving crucial problems in this industry are some of the reasons behind moving in Bitcoin’s direction.
The opportunity to make Bitcoin a yield-generating asset, something that hasn’t existed inherently, is very exciting. Yield-generating Bitcoin is powerful for all ecosystems and not just Bitcoin L2s.”
This initiative is part of the broader Bitcoin DeFi (BTCFi) movement, which seeks to integrate DeFi capabilities with the first blockchain network.
The growing interest in Bitcoin-native DeFi solutions has been bolstered by the 2024 halving event, which coincided with the launch of Bitcoin Runes, a new protocol for issuing fungible tokens on the Bitcoin network.
In the run-up to the halving, Binance Labs, the independent venture capital arm of Binance, has pivoted its focus towards BTCFi, marking its commitment with an investment in the Bitcoin-native restaking protocol BounceBit on April 11.
The launch of pSTAKE’s liquid staking solution represents the company’s inaugural venture into Bitcoin-native DeFi after three years of developing its protocol on the Cosmos network. pSTAKE is part of a growing number of protocols aimed at transforming Bitcoin into a yield-generating asset.
In a similar vein, Hermetica announced in early May the launch of the first-ever Bitcoin-backed synthetic U.S. dollar with yield capabilities, USDh, set to debut in June and offer up to 25% yields.
Pandey sees the BTCFi sector as an area ripe with promising products that enhance Bitcoin’s capital efficiency.
He believes, however, that the sector still requires further development to reach the maturity seen in Ethereum’s DeFi space. “Ethereum’s tech had to go through a lot of evolution before the actual DeFi Summer in 2020.
The Bitcoin DeFi landscape will likely follow a similar journey of development and progress before we see a full-fledged BTCfi Summer,” he explained.
Pandey also highlighted the significant financial potential in making Bitcoin a more versatile asset, noting the current minimal DeFi penetration in the Bitcoin market: “With less than 1% of the Bitcoin market cap in DeFi today, we could see huge growth as we develop more secure and reliable ways to generate yield on Bitcoin.”
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Circle Internet Financial, the entity behind USD Coin—the second-largest stablecoin globally—has announced its plan to relocate its legal base from the Republic of Ireland to the United States.
This decision comes as the U.S. tightens its cryptocurrency regulations.
A Circle spokesperson confirmed to Bloomberg on May 14 that the company has initiated legal proceedings for the move, though specific reasons for the relocation were not shared.
This move coincides with Circle’s efforts to go public, as indicated by their confidential submission of an initial public offering (IPO) plan via a press release in January.
Legal Implications
Moving from Ireland, known for its lower corporate tax rates, to the U.S. will likely increase Circle’s tax burdens.
This shift is part of a broader response to global tax reforms initiated by the Organization for Economic Cooperation and Development (OECD).
Since October 2021, the OECD Global Anti-Base Erosion Rules mandate a minimum 15% tax on multinational enterprises (MNE) profits worldwide.
Meanwhile, Tether, the largest stablecoin issuer, has engaged in significant regulatory activities.
Tether CEO Paolo Ardoino revealed on X that the company has blocked over $1.3 billion worth of assets due to various threats,
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Baby Doge on Sol (DOGESOL) could turn early investors into multi-millionaires if it becomes a mainstream coin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Baby Doge on Sol (DOGESOL), a new Solana memecoin that was launched today, is poised to explode over 14,000% in price in the coming days.
This is because DOGESOL has announced its first centralized exchange listing, which will be on BitMart.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Baby Doge on Sol can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Baby Doge on Sol could become the next viral memecoin.
Baby Doge on Sol launched with over $6,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Baby Doge on Sol on Raydium or Jupiter ahead of the BitMart listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Baby Doge on Sol by entering its contract address – G5GEMyeea1HqS2KnpazPiMuTy3sqS1UdQegsbNLGpF7U – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like DOGESOL.
In the past week, over 600 companies have disclosed substantial investments in spot Bitcoin exchange-traded funds (ETFs) through their 13F filings with the United States Securities and Exchange Commission (SEC).
These filings reveal that professional investment firms hold $3.5 billion worth of Bitcoin ETFs.
Notable investors include Morgan Stanley, JPMorgan, Wells Fargo, UBS, BNP Paribas, the Royal Bank of Canada, and hedge funds such as Millennium Management and Schonfeld Strategic Advisors.
Millennium Management is the largest investor in Bitcoin ETFs, with $1.9 billion allocated.
This includes $844.2 million in BlackRock’s iShares Bitcoin Trust (IBIT), $806.7 million in Fidelity’s Wise Origin Bitcoin Fund (FBTC), $202 million in the Grayscale Bitcoin Trust (GBTC), $45 million in the ARK 21Shares Bitcoin ETF (ARKB), and $44.7 million in the Bitwise Bitcoin ETF (BITB).
Schonfeld Strategic Advisors, managing $13 billion in assets, is the second-largest investor in spot Bitcoin ETFs, with $248 million in BlackRock’s ETF and $231.8 million in Fidelity’s fund, totaling $479 million.
Boothbay Fund Management, a hedge fund manager based in New York, reported $377 million in spot Bitcoin ETFs.
This includes $149.8 million in IBIT, $105.5 million in FBTC, $69.5 million in GBTC, and $52.3 million in BITB.
Pine Ridge Advisers, another New York-based firm, announced a $205.8 million investment in spot Bitcoin ETFs, divided into $83.2 million in IBIT, $93.4 million in FBTC, and $29.3 million in BITB.
Morgan Stanley disclosed a $269.9 million investment in GBTC, positioning it as one of the largest GBTC holders. Aristeia Capital, an alternative asset manager, revealed a $163.4 million investment in IBIT.
Graham Capital Management, based in Connecticut, declared a $98.8 million investment in IBIT and $3.8 million in FBTC.
CRCM disclosed a $96.6 million investment in IBIT, while Fortress Investment Group, a New York-based firm, reported a $53.6 million investment in IBIT.
Spot Bitcoin ETFs were launched in the second week of January and saw significant demand in the first three months.
Despite recent declines in inflows, hundreds of financial institutions have invested billions in spot Bitcoin ETFs.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Gambling Cat (GAMBCAT) could turn early investors into multi-millionaires if it becomes a mainstream coin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Gambling Cat (GAMBCAT), a new Solana memecoin that was launched today, is poised to explode over 14,000% in price in the coming days.
This is because GAMBCAT has announced its first centralized exchange listing, which will be on KuCoin.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Gambling Cat can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Gambling Cat could become the next viral memecoin.
Gambling Cat launched with over $6,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Gambling Cat on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Gambling Cat by entering its contract address – B4BQTfBJ6uQYkzaZyQjTmH7k3c9gzXQ3FrPMPDstpYAn – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like GAMBCAT.