that resemble traditional equities platforms.

It’s a nod to investor protection and competitive parity—and a shot across the bow for offshore exchanges that have long dominated the market.

Hollywood Meets Crypto Fraud

The week’s strangest twist came from Hollywood. Kevin Spacey’s comeback film, Holiguards Saga — The Portal of Force, was revealed to be co-written by and starring Vladimir Okhotnikov, also known as “Lado.”

Okhotnikov was indicted in 2023 by the DOJ for his alleged role in Forsage, a DeFi platform accused of running a $340 million Ponzi scheme. Prosecutors say he and four other Russian nationals could face up to 20 years in prison for wire fraud.

The juxtaposition is startling: a disgraced Hollywood star aligning his return with a man accused of one of crypto’s most notorious frauds. It shows how the cultural crossover between entertainment and crypto often glosses over due diligence. For regulators, it’s another reminder that crypto’s public narrative is still vulnerable to scandal.

The Bigger Picture

Taken together, these stories show crypto regulation at a crossroads. The Fed is elevating the stablecoin debate from policy papers to high-level panels. U.S. regulators are showing openness to spot markets after years of enforcement-first tactics.

At the same time, crypto continues to be both a vehicle for vast wealth creation—as the Trump sons demonstrated—and a magnet for fraud and controversy, as Hollywood’s latest scandal illustrates.