News Report

Mr. Yabby is back with the latest from the crypto and gaming world! Your go-to underwater news station keeps you updated on the hottest trends while making a splash with fun along the way.

Pi Network Unlocks Tokens

The rise of Pi began when its blockchain became fully operational on February 20th, causing PI to increase by almost 100%. Now, the Pi Network plans to unlock 188 million tokens for over 1 million users. Even though these numbers are substantial, this might not significantly increase selling pressure because the demand for PI continues to rise. Most importantly, this coin’s value remains above $1.5, and its market capitalization has surpassed $12 billion.      

Sweepstakes Lawsuits

Maryland is moving to ban sweepstakes casinos, following concerns over unregulated online gaming. Unlike New Jersey, where more regulations have been proposed, Maryland is going for outright bans on sweepstakes altogether, raising concerns about consumer protection and tax revenue loss. The debate centers on enforcement challenges and potential economic impact. It seems sweepstake operators are already leaving the state of Maryland in light of the recent events. If the ban passes, other states may follow suit, reshaping the sweepstakes industry.

El Salvador Buys 5 BTC Despite IMF Agreement

The first country in the world that made Bitcoin one of their official payment methods continues to buy it. El Salvador bought 5 BTC on March 9th, continuing its usual daily Bitcoin purchases—though it typically buys just one. This happens despite their government’s agreement with the Internation Monetary Fund (major financial agency of the United Nations) that mandates cannot voluntarily purchase BTC. President Bukele in a report said that the country doesn’t plant to put a stop to it anytime soon. It remains to be seen if they will face any consequences from the IMF. According to their statement the government holds around $550 million in Bitcoin.

Crypto Summit in The White House

The White House hosted a historic crypto summit on March 7, where President Trump outlined plans for a government-owned bitcoin reserve. Our report shows key industry figures, including Coinbase CEO Brian Armstrong and MicroStrategy’s Michael Saylor, attended the event. Trump’s executive order directed officials to build the reserve using bitcoin seized from criminal cases, avoiding taxpayer costs. While some welcomed the initiative, others were disappointed that the government wouldn’t buy new tokens. Trump reaffirmed his support for crypto as efforts to integrate it more and more continue. Industry leaders saw the summit as a shift toward collaboration, with hopes for clearer regulations ahead.

This concludes our news report for this week. Hope you found the information helpful and entertaining as well. Let us know in the comments what you would like to read about next week! Thank you for being part of our community!

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