Thoughts

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My favorite thing about these bogus DMCA takedown requesters is they don't realize Web3 is Going Just Great posts are dated based on the event. In order to backdate this post to look like they published before I did, they supposedly announce this guy's arrest two days before it happened.

Dear Fastly Compliance Team, I am writing to notify you of copyright infringement under the Digital Millennium Copyright Act (DMCA). Please see the details below: *1. Infringing Material:* URL: https://www.web3isgoinggreat.com/single/omegapro-founder-arrested *2. Original Work:* URL: https://www.tumblr.com/turkish-press/809628582636929024/omegapro-founder-arrested-for-allegedly-running *3. Description of Infringement:* The content on the infringing URL copies the following text from my original work without authorization: *"Turkish authorities arrested Andreas Szakacs, also known as Emre Avci, for his role in the OmegaPro cryptocurrency Ponzi scheme. Victims were invited to make small investments in the "Omega Invest" application, which made quick returns. They were enticed to invest more and more, but when they attempted to withdraw funds, they discovered the money had been taken. Altogether, victims have claimed around $103 million in losses."* *4. Contact Information of Copyright Owner:* Name: Daniel Condron Email: dc65656257@gmail.com Street: Oxford St City/Town: Accrington State/Province/Region: Lancs Zip/Postal Code: BB5 1QX Phone Number: 01254 879807 Country: United Kingdom *5. Statement of Good Faith:* I have a good faith belief that the use of the copyrighted material described above is not authorized by the copyright owner, its agent, or the law. *6. Statement of Accuracy and Authority:* I swear under penalty of perjury that the information in this notification is accurate and that I am the copyright owner or am authorized to act on behalf of the owner of the exclusive rights being infringed. *7. Electronic Signature:* Daniel Condron
Popup showing a publication date of July 7th, 2024 on a Tumblr post: OmegaPro founder arrested for allegedly running crypto Ponzi Turkish authorities arrested Andreas Szakacs, also known as Emre Avci, for his role in the OmegaPro cryptocurrency Ponzi scheme. Victims were invited to make small investments in the "Omega Invest" application, which made quick returns. They were enticed to invest more and more, but when they attempted to withdraw funds, they discovered the money had been taken. Altogether, victims have claimed around $103 million in losses.

In September 2025, a new cryptocurrency super PAC launched, claiming to have $100 million committed.

Press release from Fellowship PAC: THE FELLOWSHIP PAC The Fellowship PAC Launches With Over $100 Million Committed to Protect America's Leadership in Innovation and Transparency Washington, DC September 15th., 2025: The Fellowship PAC, a new independent-expenditure, today announced over $100 million commitment to back pro-innovation, pro-crypto candidates who will safeguard America's role as the global leader in digital assets and entrepreneurship. The Fellowship PAC represents the next step in the industry's evolution-building on the unprecedented momentum that innovators, entrepreneurs, and investors have already created. Unlike past political efforts, the Fellowship PAC's mission is defined by transparency and trust, ensuring political action directly supports the broader ecosystem rather than narrow or individual interests. Under President Trump's administration, a regulatory framework is being established that puts America on the path to become the global crypto capital. The Fellowship PAC will exist to carry that momentum forward, reinforcing America's competitive edge in digital asset innovation and guaranteeing that founders and domestic crypto companies have the freedom, clarity, and regulatory support to build the future here at home. The PAC will focus on: Supporting candidates committed to transparent and predictable rules for digital assets. Protecting America's global competitive advantage in technology and entrepreneurship. Ensuring that the innovation economy reflects American values of openness, fairness, and opportunity. Preventing the continued exodus of talent and entrepreneurs offshore by keeping the U.S. the best place to innovate, and providing firm regulatory clarity. Transparency and trust is our differentiator. This PAC is designed to align the interests of crypto entrepreneurs, policymakers, and the public, ensuring trust and accountability as we continue building the ecosystem. This is not the end-it's only the beginning. More to come. About the Fellowship PAC: The Fellowship PAC is registered as an independent-expenditure-only committee (super PAC). It does not coordinate with candidates or parties. Its mission is to ensure the United States remains the global leader in crypto and innovation through transparent, ecosystem-wide support.

If true, it would mean the crypto super PACs would have nearly half again as much cash to deploy in the midterms. But their EOY filing showed $0, and I was beginning to wonder if it was a bust.

A week ago, Fellowship PAC announced that Jesse Spiro, head of government affairs at stablecoin company Tether, would be chairing the PAC. Now they've endorsed a slate of Republican candidates, and made their first expenditure ($300,000 in the last moments of Clayton Fuller's successful bid for the special election in GA-14).

It seems like this PAC will indeed be entering the playing field, and potentially dramatically increasing the amount of money in play on behalf of the crypto industry if their earlier claims around funds committed are to be believed. There are a few more days until their quarterly filing is due, at which point we should get more insight into how much money this PAC has on hand and where it's coming from.

Their endorsements so far:

  •  Alan Wilson, South Carolina governor
  • Mike Collins, Georgia Senate
  • Julia Letlow, Louisiana Senate
  • Pete Ricketts, Nebraska Senate (incumbent)
  • Nate Morris, Kentucky Senate
  • Blake Miguez, Louisiana House District 5

“It’s honestly been eye opening (in a bad way) to see how special interests work in our system” says the Head of Politics at Kalshi, which pays Donald Trump Jr. to sit on its advisory board and has spent over a million in lobbying over the past ~year. The government has just filed a lawsuit to intervene to protect Kalshi from several state regulators.

It’s honestly been eye opening (in a bad way) to see how special interests work in our system. Kalshi and other regulated prediction markets are better for consumers and threaten gambling monopolies. So casinos take their profits (which come directly from people’s losses) and use it to fund the state’s litigation to try and shut down their competition. This is part of why so many people believe the government doesn’t work for them anymore

The CFTC (the US commodities regulator) has just sued Arizona, Connecticut, and Illinois for their efforts to "outlaw, regulate, or otherwise restrain" prediction markets like Kalshi.

This is another escalation by newly appointed CFTC chair Mike Selig (and sole Commissioner at the agency), who has taken it upon himself to assert the CFTC's sole regulatory authority over prediction markets. Recently, the CFTC filed a supporting brief in Crypto​.com's lawsuit against Nevada.

As I wrote then, "Since the CFTC has filed no enforcement actions against prediction markets after embracing the sector following Trump’s election, Selig’s jurisdictional claim seems designed to shield the sector rather than regulate it."

Nevertheless, the CFTC's press release accompanying these lawsuits claims that state regulatory intervention could result in "poorer consumer protection and increased risk of fraud and manipulation".