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Eugene William Austin Jr., also known as “Hugh Austin,” was sentenced to 18 years in prison for leading a multi-year scheme that defrauded more than two dozen victims out of $12 million. His son, Brandon Austin, was previously sentenced to four years in connection with the fraud, according to the Justice department. According to U.S. Attorney Jay Clayton, Austin’s operation targeted entrepreneurs and investors by offering fake cryptocurrency deals, short-term investment opportunities, and phony brokerage services. He also promised funding from supposed wealthy backers, none of which materialized. Victims were misled into believing their money was being invested, but the funds were used for personal expenses including luxury hotels, flights, and restaurants. A federal jury convicted Austin in September 2024 on charges of conspiracy to commit wire fraud, money laundering, and transporting stolen property across state lines. U.S. District Judge P. Kevin Castel handed down the sentences. Austin, 62, of Port Jefferson, New York, was also ordered to serve three years of supervised release, forfeit more than $6 million, and pay over $12.6 million in restitution. “This Office will continue to pursue those who exploit trust and use cryptocurrency as a cover for fraud,” Clayton said, crediting Homeland Security Investigations and the Complex Frauds and Cybercrime Unit for their work. The case was prosecuted by Assistant U.S. Attorneys Olga Zverovich, Matthew Weinberg, and Andrew Chan.

OpenAI: Willing to acquire Google Chrome if given the chance In the antitrust lawsuit filed by the U.S. Department of Justice against Google, Nick Turley, head of ChatGPT product at OpenAI, said that if the court requires Google to sell the Chrome browser, OpenAI is interested in acquiring it. The Department of Justice accused Google of maintaining a monopoly in the search market through the default search protocol and the Chrome browser, and suggested divesting Chrome as a potential remedy. Nick Turley pointed out that if ChatGPT can be integrated with Chrome, it will help improve the user experience and expand the product's influence. Currently, OpenAI is challenging Google's search dominance through products such as ChatGPT Search. (Fortune)

White House Press Secretary: US government will respond to Harvard University lawsuit in court The White House press secretary said Harvard University is at risk of losing federal funds, and the US government will respond to Harvard University's lawsuit in court. Harvard University in the United States said on the 21st that it had filed a federal lawsuit against the Trump administration, claiming that it had frozen billions of dollars in federal funds, illegally undermined the school's academic independence, and violated the school's constitutional rights. The president of Harvard University said in a statement that freezing funds was illegal and beyond the government's power. It is reported that the US government agencies mentioned in the lawsuit by Harvard University include the Department of Education, the Department of Health and Human Services, the Department of Justice, the Department of Energy, and the General Services Administration. Previously, the Trump administration announced on April 14 that it would freeze approximately $2.3 billion in multi-year grants and $60 million in multi-year contracts provided to Harvard University. It is reported that Harvard University had stated on the same day that it would not comply with a series of requests made by the Trump administration to combat anti-Semitism. In addition, the Trump administration also stated on the 18th that it had asked Harvard University to provide records of foreign funding and some foreign relations over the past decade.

Democratic lawmakers introduced new legislation on Monday to eliminate Puerto Rico’s allure as a crypto tax haven. The Fair Taxation of Digital Assets in Puerto Rico Act of 2025 was introduced by Representative Nydia Velázquez of New York. The measure aims to fill a loophole allowing crypto investors to pay no federal taxes by moving to the island. Currently, residents of Puerto Rico who are considered bona fide residents of the island can pay little or no local or federal taxes on their capital gains, including profits earned from cryptocurrency trading, under Act 60. This policy has drawn thousands of wealthy investors over the past decade. The proposed law would add a provision to the Internal Revenue Code requiring that digital asset income earned by Puerto Rico residents be taxed under the same federal rules as income earned on the U.S. mainland. The influx of crypto-investors has reportedly done more damage than good to the local Puerto Rico population, according to Velázquez and other lawmakers. Instead of strengthening the economy, they say, an influx of rich crypto traders has inflated living costs, particularly in property markets. “This wave of crypto investors hasn’t helped Puerto Rico’s recovery or strengthened the local economy,” Velazquez said. According to her, it has only driven up housing costs, pushed out local residents, and added pressure to an island where nearly 40% of people live in poverty — all while costing the federal government billions in lost tax revenue. The Joint Committee on Taxation said that the tax breaks for investors will cause the federal government to lose an estimated $4.5 billion in revenue between 2020 and 2026. The economic divide is becoming more apparent in cities such as San Juan, where the signs of luxury real estate developments have multiplied even as many local families cope with high rents and limited options for work. Earlier this month, Puerto Rico’s new governor, Jenniffer González, proposed slightly tightening Act 60. Her proposal would keep the benefits in place until 2055 but would apply a 4% tax over new applicants’ capital gains — still far lower than the 20–37% rates that many crypto investors would pay on the mainland. Proponents of the existing tax regime say it has attracted much-needed investment and innovation to Puerto Rico. Rich newcomers, they say, are helping build a more robust technology and finance sector, create jobs, and modernize the island’s economy. Crypto advocates say that without the tax breaks, these investors would have gone elsewhere with their money. But critics are skeptical, noting that most benefits have gone to the wealthy, not to average Puerto Ricans. The political road ahead for the bill appears murky. Republicans have historically favored lower taxes and seem unlikely to sign off on a piece of legislation they view as anti-crypto. Adding another twist to the political poker game, President Donald Trump recently embraced cryptocurrencies . He has vowed to undo regulations that are suffocating the digital asset sector. Velázquez’s bill faces an uphill battle with Congress focused on broader tax arguments. Still, the effort underscores mounting tensions over balancing innovation versus fairness and economic justice — not just in Puerto Rico but nationally. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

BREAKING NEWS: Pope Francis has passed away at the age of 88 The Vatican has confirmed that Pope Francis has passed away at the age of 88. The news was officially announced by Cardinal Kevin Farrell, the Camerlengo of the Holy See. His passing marks a great loss for the Catholic Church and millions of faithful around the world. Throughout his papacy, he was known as a humble and compassionate spiritual leader who constantly advocated for peace, justice, and human dignity. We extend our deepest condolences to the entire Church and all those who loved him. May the soul of Pope Francis rest in eternal peace.