Senin, 08 Juni 2026

Korea probes Polymarket users, crypto PACs sweep primaries


Korea's crackdown, mortgage news, and PAC wins.	͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏	View in browser

Your weekly roundup of the 🔥hottest news in crypto:

A Week in Review: Korea probes Polymarket users, crypto PACs sweep primaries

May 31 - June 6

#1

South Korea police probe Polymarket users over illegal gambling claims

Gangwon Provincial Police in South Korea have begun an illegal gambling probe into users of the prediction market Polymarket.

The investigation, which was requested by the National Police Agency, is part of a crackdown on unauthorized prediction and betting platforms in the country. Currently, Sports Toto is the only state-authorized sports betting platform. Polymarket users could face fines of up to 10 million won ($6,500).

Polymarket has faced increasing legal scrutiny in a number of countries, including Singapore, Poland, Portugal, Hungary, Ukraine, Brazil, the United States and Indonesia.

Get the full story

#2

Coinbase to launch crypto mortgage payments this summer

American crypto exchange Coinbase will soon allow homeseekers to use Bitcoin (BTC) and stablecoin USDC as collateral on home loans.

Coinbase and finance company Better Home & Finance will reportedly launch the offering by summer 2026. The new collateral policy will pertain to qualified borrowers funding mortgages backed by Fannie Mae (the Federal National Mortgage Association).

Better Home & Finance CEO Vishal Garg said that the new policy will help expand home ownership and “fix an ongoing issue: buyers who qualify on every measure that matters but cannot clear the down payment hurdle because their wealth isn’t where the system expects to find it.”

#3

Crypto PAC-supported candidates sweep US state primaries after media buys

Candidates supported by crypto political action committees (PACs) have swept primary elections in three US states: California, New Jersey and South Dakota.

In California, Democrats Jacqui Irwin, Ted Lieu, Zoe Lofgren, Dave Min, Mike McGuire, Hilda Solis, George Whitesides, Lou Correa and Lateefah Simon won their elections for seats in the US House of Representatives. In New Jersey Democrat Rob Menendez won the primary for the state’s 8th district, while Republican Mike Rounds won the Senate primary in South Dakota.

All were beneficiaries of large media buys by crypto PACs Protect Progress and Defend American Jobs, themselves affiliates of crypto Super PAC Fairshake. As of January, Fairshake has a war chest of some $193 million.

Prediction of the week

Bitcoin crash into maximum fear could actually be a good sign, say analysts

The Bitcoin Fear & Greed Index has seen Bitcoin slip into “Extreme Fear,” as the price dropped to $65,000 earlier this week.

While many market observers are despondent, commentary account Cryptic Trades said the collapse could trigger a relief bounce. “A relief rally on $BTC IS COMING,” the account wrote.

Despite bearishness among most sentiment indicators, the analyst said that, in the long-term, their outlook is still bullish. “Engagement is low, the sentiment is terrible, the social media interest has collapsed, and bearishness is everywhere. Ironically, that is exactly why I continue to remain bullish on the high timeframes.”

FUD of the week

Bitcoin copying 2022 'almost perfectly' as trader sees key support failing

Crypto Trades may be optimistic, but others are less so. Trader and analyst Rekt Capital noted the 50-month exponential moving average (EMA) of Bitcoin price.

“Over time, Bitcoin is likely to breakdown from this EMA and continue macro downside in this Bear Market,” he said.

If history repeats itself, and the market acts as it did in 2022, there could be a relief bounce before it returns to the 50-month EMA, which would then fail as a support.

“Historically, Bitcoin tends to rebound initially from the 50-Month EMA but then loses it as support as the Bear Cycle progresses,” he said.

FUD of the week

Russian ruble stablecoin A7A5 grows despite Western sanctions: CertiK

Despite being the target of sanctions in the US and EU, Russian ruble-backed stablecoin A7A5 has grown. Its $110 billion in transactions account for 43% of the global non-US dollar stablecoin market.

A7A5 was issued in January 2025 by Old Vector LLC, a Kyrgyz entity acting on behalf of Russian payments firm A7 LLC. The latter is itself connected with Promsvyazbank, which finances the Russian military.

Numerous investigations have connected A7A5 to weapons and technology procurement for the Russian armed forces.