Authorities in the UAE have arrested WhiteRock Finance founder Ildar Ilham more than a year after Dutch authorities had issued an arrest warrant against him following investigations into the $30 million ZKasino scam.
The alleged investor scam followed ZKasino’s launch in April 2024, when the platform had promised an airdrop of its native token to select users. However, according to reports, the funds have still not been returned to investors. Apparently, Dutch authorities had in April 2024 arrested one Elham Nourzai, 26, on claims of fraud, embezzlement and money laundering, citing his involvement in the scam.
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According to crypto sleuth ZachXBT, Ilham’s arrest in the UAE is connected to the investigation against Nourzai and ZKasino, and his extradition proceedings to the Netherlands are underway.
Chinese firm completes first buy in effort to stockpile 10% of BNB
Chinese microchip firm Nano Labs has officially kicked off its plan to hold up to 10 per cent of the total circulating supply of BNB, with its first purchase of crypto coins worth $50 million. Nano Labs said its long-term goal was to purchase up to $1 billion worth of BNB and hold up to 5-10 per cent of the total circulating supply of the crypto asset.
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With the latest purchase, Nano Labs’ holding in BNB and Bitcoin now stands at roughly $160 million.
Nano Labs was founded in 2019 by Kong Jianping and Sun Qifeng. The firm went public in 2022 and primarily produces high-throughput computing chips and high-performance computing chips, according to Cointelegraph.
US Republicans Declare Crypto Week To Discuss 3 Crypto Bills
US Republican House leaders have decided to consider three key crypto bills starting mid-July as part of a regulatory “Crypto Week”. House Finance Committee Chair French Hill, House Agriculture Committee Chair Glenn Thompson and Speaker Mike Johnson have said that they would use the week of July 14-18, 2025 to debate over a crypto market structure bill, a Stablecoin bill, and a bill on central bank digital currencies (CBDCs).
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“House Republicans are taking decisive steps to deliver the full scope of President (Donald) Trump’s digital assets and cryptocurrency agenda. During ‘Crypto Week,’ the House looks forward to the timely consideration of three landmark pieces of legislation: the CLARITY Act, the Anti-CBDC Surveillance State Act, and the Senate’s GENIUS Act,” Johnson said.
The Republican Party’s push to debate the bills come as US President Donald Trump had announced last month that he wants the Stablecoin-regulating GENIUS Act to be passed as soon as possible, before the US Congress goes on a month-long break in August.
