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Zero Edge founder Richard Kim arrested for misappropriating investor funds for gambling Zero Edge founder Richard Kim was arrested for embezzling investor funds for gambling. According to the indictment filed by the FBI in the Southern District of New York on Tuesday, Kim used fraudulent means to induce investors to invest in Zero Edge, a crypto technology company he founded, and then embezzled millions of dollars of investment funds for gambling. He has now paid a $250,000 bail. (CoinDesk)

Zero Edge, a cryptocurrency gambling platform, Founder Richard Kim Arrested for Embezzling Investor Funds for Gambling

Lagarde: I have great respect for Fed Chairman Powell, and the relationship between central banks is solid European Central Bank President Lagarde said that she has great respect for Federal Reserve Chairman Powell, and the relationship between central banks is solid and strong. At the June meeting, it was not possible to fully clarify the situation regarding tariffs. The most obvious response from the EU is to provide zero tariffs and redirect the flow of goods, but there was no discussion of stimulus measures. It was mentioned that a 50 basis point interest rate cut may be possible, but the market generally reacted strongly to a 25 basis point interest rate cut. (Jinshi)

Billionaire Mike Novogratz’s Galaxy Ventures Fund I LP is on track to raise up to $180 million by June to back early-stage crypto and blockchain startups, with a focus on payments and stablecoins. According to unnamed sources cited in an April 17 Bloomberg report , the fund has already surpassed its initial $150 million target and is expected to close with between $175 million and $180 million. The final close is scheduled for the end of June. Galaxy has not made the figures public, and a spokesperson declined to comment. Galaxy Ventures Fund I invests in early-stage companies building infrastructure and financial tools for the crypto economy. Its current portfolio includes synthetic dollar issuer Ethena, stablecoin-focused DeFi protocol M^Zero, layer-1 blockchain Monad, asset tokenisation chain Plume, and Renzo, which supports Ethereum restaking via EigenLayer. The fund had its first close in June 2024, when Galaxy Asset Management announced it had raised $113 million . At the time, the firm said the venture fund would target startups building crypto protocols, software, and financialized applications. “This fund will strengthen our commitment to fostering innovation in the digital asset space,” Galaxy’s global head of asset management, Steve Kurz, said in a July press release, “enabling us to back visionary startups and gain unparalleled insights into the emerging technologies that will shape both our company and the future of finance.” Led by general partners Will Nuelle and Mike Giampapa, the fund aims to build a portfolio of around 30 investments focused on helping institutions and startups participate in the onchain economy. Galaxy’s venture operations were previously moved under its asset management division before the launch of this fund. Its strong fundraising progress comes despite broader headwinds in the sector, where crypto VC activity has been slow to recover. In Q1 2025, U.S. crypto venture deals fell 22% year-on-year to roughly $1.3 billion, according to Pitchbook. Much of the capital has shifted to artificial intelligence, which absorbed 58% of global VC dollars during the same period. A February report from the analytics firm highlighted just how cautious the market has become. Despite Bitcoin hitting $100,000 in late 2024, median crypto VC deal sizes had dropped nearly 90% since 2018. At the time, PitchBook’s Robert Le said the days of raising capital with just a white paper were long gone, with today’s founders needing “a significant amount of traction or something else other than a technical white paper.” Nevertheless, Le hoped for a rebound in 2025 and projected over $18 billion in venture capital to flow into crypto.

AI App Platform Infinity Ground Releases Agentic IDE 1.0 to Help Build Applications with Zero Code According to official news, AI application creative platform Infinity Ground announced the launch of Agentic IDE 1.0, the first intelligent development environment built natively for AI, which supports users to communicate with AI agents through natural language and generate fully functional Web3 applications without any code foundation. Agentic IDE 1.0 supports interactive design, agent configuration, and front-end and back-end code generation. Compared with traditional development methods, it significantly improves development efficiency, lowers the threshold for creating Web3 applications, and brings more interactive innovation possibilities to creators. As the core product of Infinity Ground's vision of creating an "AI super individual", the launch of Agentic IDE 1.0 will promote the integration of AI and Web3, and help decentralized creation become more efficient and popular.