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Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Dan Finlay Exits MetaMask: Co-founder Dan Finlay is leaving Consensys after 10 years to focus on family and mental health. His departure follows the successful launch of the "advanced permissions" feature.

2. US Treasury Sanctions Iran-Linked Crypto: The US Treasury’s OFAC froze $344 million in USDT across two Tron blockchain addresses linked to the IRGC and Hizballah.

3. CFTC vs. New York: The CFTC has sued New York, with Chair Michael Selig arguing that prediction market event contracts are "swaps" and should fall under federal authority rather than state gambling laws.

4. 💡Feature of the Day- Brazil Bans Major Prediction Markets: Brazil’s Ministry of Finance and Anatel have blocked 27 platforms, including Polymarket and Kalshi, labeling unregulated wagering as "anarchy."

   
   All this and more in today’s headlines!

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📰 News Highlights:

Metamask’s End of an Era [Source][Source][Source]

After a decade at the helm of MetaMask, co-founder Dan Finlay is officially leaving Consensys to prioritize his family and mental health. Finlay, a cornerstone of the Ethereum ecosystem, helped evolve a simple browser extension into the primary gateway for DeFi and NFTs before hitting a wall with professional burnout.

His exit comes on a high note, following the successful shipment of the "advanced permissions" feature, which allows him to finally experience the platform as a standard user.

Finlay’s departure is the latest signal in the "Great Rebalancing" of 2026, where the crypto old guard is being replaced by compliance-focused institutional leadership. As MetaMask transitions toward account abstraction and "smart accounts," the industry is shifting from its experimental "pioneer" roots toward mainstream infrastructure.

While the exit marks a significant loss, industry peers like Uniswap’s Hayden Adams have already hailed Finlay’s work as the very foundation of the modern decentralized finance landscape.

US Treasury Chokes Off Iran’s Crypto Lifeline [Source][Source][Source][Source]

The US Treasury’s OFAC has struck a massive blow against Tehran’s digital economy by freezing $344 million in USDT linked to the IRGC and Hizballah. Treasury Secretary Scott Bessent confirmed that two specific addresses on the Tron blockchain were targeted to dismantle financial lifelines used to bypass traditional sanctions.

This aggressive financial maneuver follows heightened regional military tensions, including joint airstrikes and a naval blockade that defined late February 2026.

The urgency of the freeze stems from reports that Iran has been extorting "crypto tolls" from merchant ships in the Strait of Hormuz, demanding Bitcoin for safe passage. While Tether’s cooperation was vital to the operation's success, the partnership underscores just how difficult it is becoming to hide state-level activity behind major stablecoins.

As the financial war between Washington and Tehran escalates, the Treasury is clearly focused on degrading any infrastructure that allows the regime to operate outside the global banking system.

The CFTC Fights New York for Control of Betting [Source][Source][Source][Source]

The jurisdictional "tug-of-war" over prediction markets has escalated into a federal lawsuit, with the CFTC suing New York to assert exclusive authority over these platforms. CFTC Chair Michael Selig argues that event contracts are technically "swaps" and should be shielded from the "onslaught" of state gambling laws that threaten to fragment the national market.

This move seeks to stop New York from treating registered exchanges like Coinbase and Gemini as illegal sportsbooks, a classification that currently threatens the industry’s survival.

However, a powerful coalition of 37 states, led by Massachusetts, is fighting back, arguing that the CFTC’s regulatory framework lacks necessary consumer protections for betting. From Kalshi being banned in Nevada to cease-and-desist orders in Illinois and Arizona, the industry is facing a regulatory nightmare of patchwork state laws.

If the courts don't side with the CFTC's "financial instrument" classification, the ability to operate a nationwide prediction market in the US may become a legal impossibility.

💡 Feature of the Day: 

Brazil Nukes Prediction Markets [Source][Source][Source][Source]

Brazil has slammed the door on the world’s leading prediction markets, with the Ministry of Finance blocking 27 platforms including industry giants Polymarket and Kalshi. The National Telecommunications Agency (Anatel) executed the ban after officials labeled the recent years of unregulated betting as "anarchy."

This aggressive crackdown effectively criminalizes social and political wagering, categorizing them as illegal gambling rather than legitimate financial forecasting.

Under the new Resolution 5.298, the government is permitting only contracts tied to specific economic metrics like inflation and interest rates, while banning sports and entertainment markets. Executive Secretary Dario Durigan cited the risk of "harmful indebtedness" among students and small businesses as the primary motivation for the move.

As Brazil joins France and the Netherlands in penalizing unauthorized platforms, the dream of a truly "global" and permissionless prediction market continues to fracture under local legal pressures.

😂 Crypto Meme of the Day: 

Meme of the day provided by @GainsAssociates

And that’s it for this today.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com