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Polymarket CEO Shayne Coplan had phone, electronics seized by the FBI
The post Polymarket CEO Shayne Coplan had phone, electronics seized by the FBI appeared on BitcoinEthereumNews.com. The FBI seized the phone and electronics of Polymarket CEO Shayne Coplan, reported the NY Post. On Wednesday morning New York time, agents visited Coplan to demand access to all electronic devices. Polymarket’s CEO Shayne Coplan had his phone and electronics confiscated by the FBI. According to a source cited by the NY Post, the FBI organized a raid rather than contact Coplan’s lawyer. The raid against Coplan and Polymarket recalls this year’s arrest of Pavel Durov in France, where authorities put pressure on the platform for unauthorized encryption. According to the source, the authorities would try to accuse Polymarket of manipulating public opinion and affecting the election results. Coplan himself was not arrested, and according to some sources was not even physically present. The CEO of Polymarket was also not provided with a reason for the raid and confiscation. Coplan has not posted anything new on X since November 7 and has not mentioned the raid. Polymarket continues to function, with leading bets focusing on sports, post-election politics, and the price of Bitcoin (BTC). Polymarket resides in a New York office on 1280 Lexington Avenue. Polymarket excludes US traders to comply with NY crypto regulations and most of its bets come from overseas markets. The company was fined $1.4M by the Commodities Futures Trading Commission in 2022 for failing to register as a Swap Execution Facility. The raid happened at a time when Polymarket aims to retain its user base by promising an airdrop. Polymarket prediction sparks speculation of election interference The raid came just days after Polymarket gained mainstream attention after essentially predicting the US election results earlier than all other media outlets. The effect of Polymarket hinged on its most active betting pair, the winner of the US presidential election, which for weeks pointed to a decisive…
The post Polymarket CEO Shayne Coplan had phone, electronics seized by the FBI appeared on BitcoinEthereumNews.com.
The FBI seized the phone and electronics of Polymarket CEO Shayne Coplan, reported the NY Post. On Wednesday morning New York time, agents visited Coplan to demand access to all electronic devices. Polymarket’s CEO Shayne Coplan had his phone and electronics confiscated by the FBI. According to a source cited by the NY Post, the FBI organized a raid rather than contact Coplan’s lawyer. The raid against Coplan and Polymarket recalls this year’s arrest of Pavel Durov in France, where authorities put pressure on the platform for unauthorized encryption. According to the source, the authorities would try to accuse Polymarket of manipulating public opinion and affecting the election results. Coplan himself was not arrested, and according to some sources was not even physically present. The CEO of Polymarket was also not provided with a reason for the raid and confiscation. Coplan has not posted anything new on X since November 7 and has not mentioned the raid. Polymarket continues to function, with leading bets focusing on sports, post-election politics, and the price of Bitcoin (BTC). Polymarket resides in a New York office on 1280 Lexington Avenue. Polymarket excludes US traders to comply with NY crypto regulations and most of its bets come from overseas markets. The company was fined $1.4M by the Commodities Futures Trading Commission in 2022 for failing to register as a Swap Execution Facility. The raid happened at a time when Polymarket aims to retain its user base by promising an airdrop. Polymarket prediction sparks speculation of election interference The raid came just days after Polymarket gained mainstream attention after essentially predicting the US election results earlier than all other media outlets. The effect of Polymarket hinged on its most active betting pair, the winner of the US presidential election, which for weeks pointed to a decisive…
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