Fantasy.top Shuts Down After Crypto Card Trading Game Flops

Fantasy.top is shutting down after more than two years, ending one of crypto’s most closely watched onchain trading card experiments on Blast. The team said it spent months weighing alternatives before deciding the business could not escape a structural mismatch between crypto incentives and trading card games.

Co-founder Kipit argued the core problem was not execution but design: crypto trading card games pull in speculators before they build a durable player base. Once asset prices become the main attraction, he said, teams stop crafting a game and start running an economy for investors rather than gamers.

Kipit extended the criticism to token culture more broadly, saying launches before product-market fit poison companies by making employees, users, and backers obsess over price. He said traditional finance keeps guardrails for a reason, while crypto skipped them and left retail exposed to unfinished ideas.

Fantasy said all pre-seed and seed investors will be repaid in full because operations were funded entirely through product revenue, leaving outside capital untouched. The closure is striking because the platform once ranked among crypto’s top fee-generating protocols after raising $4.25 million with backing from Dragonfly and Alliance DAO.

Bipartisan Bill Seeks 20 Year Strategic Bitcoin Stockpile

Lawmakers Nick Begich and Jared Golden introduced the American Reserve Modernization Act (ARMA) to establish a permanent strategic Bitcoin stockpile under federal law. The proposed legislation directs the Treasury Department to securely maintain these digital currency allocations for a minimum of 20 years. This bipartisan initiative looks to codify a key administrative policy before upcoming congressional midterm elections.

The statutory framework mandates the immediate consolidation of billions of dollars in digital wealth currently held across various separate federal enforcement agencies. The bill also requires the publication of regular proof of reserve reports to ensure total transparency for public asset managers. Supporters believe this strategy will insulate national wealth from future economic shocks.

Armed Gang Targets The Sandbox Founder's Wife In France

Six masked suspects disguised as delivery personnel targeted the wife of metaverse platform executive Sébastien Borget in a violent cryptocurrency kidnapping attempt this week. Neighbors intervened to disrupt the assault before the suspects could force the victim into a vehicle in Seine-et-Marne. Police officers arrested two heavily armed teenagers carrying zip-tie restraints near the property.

National judicial authorities revealed that this home invasion marks 41 crypto targeted physical assaults recorded across the country since the current year began. European security firms linked this alarming rise in physical extortion to extensive personal data breaches from online government registries. High profile blockchain founders are now receiving enhanced sovereign security details for protection.

Kraken Secures VARA Broker Authorization In Dubai

Kraken secured preliminary authorization from Dubai’s Virtual Asset Regulatory Authority, allowing parent company Payward to offer broker-dealer and investment management services in the emirate. Retail and professional customers will gain spot and margin trading, staking, transfers, OTC access, and Kraken Prime through a local regulated subsidiary.

The approval strengthens Kraken’s Middle East expansion as Dubai continues using detailed licensing rules to attract crypto firms seeking clarity unavailable elsewhere. The exchange says clients can fund and withdraw in dirhams, with derivatives, lending, and additional investment products planned for qualified customers later.

Data of the Day

A petition opposing South Korea’s planned 22% tax on crypto gains crossed the 50,000-signature threshold, forcing a review by the National Assembly’s Finance and Economic Planning Committee. Petitioners argue the levy would burden investors, weaken social mobility for younger citizens, and drive capital and talent offshore.

The backlash lands as South Korea’s crypto market has sharply contracted, with holdings dropping from 121.8 trillion won to 60.6 trillion won and daily exchange volumes falling to $3 billion. Critics say tighter AML and cross-border reporting proposals are accelerating the retreat before the 2027 tax start.

More Breaking News

• Hyperliquid's native token HYPE notched a record high above $60 following massive Wall Street inflows and aggressive $41 million accumulation by Grayscale managed funds.
• Italian financial authorities uncovered a $1.1 million tax evasion scheme where a suspect utilized Bitcoin Ordinals and BRC-20 token inscriptions to conceal capital gains.
• Wall Street banking giant JPMorgan reported that tokenized money market funds account for only 5% of the total stablecoin universe due to severe regulatory constraints.
• London listed brokerage IG Europe partnered with Bitpanda to launch institutional grade spot cryptocurrency trading infrastructure for experienced retail investors across the continent.
• Long running digital asset exchange Blockchain.com filed confidentially for a public offering in the United States to join a growing wave of crypto listings.
• The Securities and Exchange Commission delayed deciding on 24 prediction market exchange traded funds to seek official public input on the novel asset structures.
• Terraform’s administrator alleged Jane Street used a secret Telegram channel with insiders before dumping $192 million in UST, ahead of the $40 billion collapse in May.
• Mark Cuban said he sold most of his Bitcoin after the asset failed his hedge test during dollar weakness and Middle East turmoil, while gold surged.

For the latest updates on digital asset markets, follow us on X @Datawalletcom.