India's Central Bureau of Investigation (CBI) has apprehended Ayush Varshney, co-founder and chief technology officer of Darwin Labs Private Limited, in relation to the ongoing GainBitcoin cryptocurrency fraud probe. According to Cointelegraph, Varshney was detained at Mumbai airport on Monday while attempting to leave India, following a Look Out Circular issued against him. He was officially arrested and handed over to the CBI on Tuesday. The CBI has identified Darwin Labs as a pivotal player in constructing the technological framework for the alleged scheme, including the GainBitcoin investor platform and related tools for managing payments and wallets. This arrest marks the latest advancement in India's investigation into the multi-million-dollar GainBitcoin operation, one of the country's largest alleged cryptocurrency investment frauds. The GainBitcoin scheme, as per the CBI, was promoted through Variabletech Pte. Ltd., promising investors monthly returns of approximately 10% in Bitcoin (BTC) for up to 18 months. The funds collected from investors were reportedly misappropriated. Darwin Labs and its co-founders, including Varshney, Sahil Baghla, and Nikunj Jain, were involved in the creation and deployment of a cryptocurrency token known as MCAP, along with its associated ERC-20 smart contract. The CBI further stated that the company contributed to developing essential components of the platform's technical infrastructure, including the GBMiners.com mining pool, a Bitcoin payment gateway, the Coin Bank Bitcoin wallet, and the GainBitcoin investor website used for participant interaction. The decade-old case reportedly involved 8,000 investors and losses estimated at around $790 million. GainBitcoin emerged in the mid-2010s as a cloud-mining investment platform, encouraging users to purchase Bitcoin and deposit it with the service in exchange for promised fixed returns. The CBI alleged that the scheme eventually relied on a multi-level marketing structure, where payouts were linked to recruiting new investors. As new deposits dwindled, the platform reportedly shifted payouts from Bitcoin to its in-house MCAP token, which had a significantly lower value. The operation was allegedly masterminded by Amit Bhardwaj, a notable early Bitcoin promoter in India, who passed away in 2022 while out on bail. On February 26, 2025, Indian authorities conducted searches at over 60 locations as part of the investigation into the GainBitcoin scheme. Investigators have previously indicated that the case involves 8,000 investors, with estimated losses reported by authorities ranging from about 6,606 crore Indian rupees (roughly $790 million).

Jinse Finance launches the "Jinse Web3.0 Daily," providing you with the latest and fastest news on MEME, DeFi, DAO, NFT, and the metaverse industry.

British maritime security company Ambrey reports that an oil storage facility in Oman's Salalah port has been attacked. Ambrey footage shows two plumes of smoke rising from the facility, with one silo burning. According to Omani television, a drone struck the fuel tanks in Salalah port, causing no injuries. (Jinshi)

"Exploring the reasons why a valuation of $1 million for Bitcoin might not be as far-fetched as it seems, especially considering the continuous expansion of the global store-of-value market, and how this growth could significantly influence Bitcoin's role and acceptance as a mainstream asset." source: https://blocknews.com/why-1-million-bitcoin-isnt-crazy-if-the-global-store-of-value-market-keeps-expanding/

The same institution whose lobbying arm has been fighting OCC crypto banking licenses and stablecoin yield provisions quietly filed a trademark application for a dollar-pegged digital asset in January 2025, with expanded categories updated as recently as March 9, 2026. source: https://www.ethnews.com/wells-fargo-filed-a-crypto-trademark-called-wfusd/

Bank of England Deputy Governor Sarah Breeden suggested that UK regulators might relax their stringent stance on stablecoin holdings. Bloomberg posted on X, indicating that this potential shift comes in response to criticism from the digital asset sector. The current regulatory framework has faced opposition from industry stakeholders who argue that it hampers innovation and growth within the digital currency space. Breeden's comments signal a possible change in policy, aiming to balance regulatory oversight with the needs of the evolving financial landscape.

The World Health Organization (WHO) has verified 18 attacks on healthcare facilities in Iran since February 28, resulting in the deaths of eight healthcare workers. According to Jin10, these incidents highlight the ongoing challenges faced by medical personnel in conflict zones. The WHO continues to monitor the situation closely, emphasizing the need for the protection of healthcare workers and facilities in the region.

Investigators say the GainBitcoin case involves about 8,000 investors and losses estimated at roughly 6,606 crore rupees ($790 million). source: https://cointelegraph.com/news/india-arrests-darwin-labs-co-founder-in-gainbitcoin-scam-probe?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

A maritime security company, Ambrey, has reported an attack on oil storage facilities at the Port of Salalah in Oman. According to Jin10, the incident has raised concerns over the security of energy infrastructure in the region. Details about the perpetrators or the extent of the damage remain unclear, but the attack underscores ongoing geopolitical tensions affecting global oil markets. The situation is being closely monitored by industry experts and security analysts.

Goldman Sachs' trading division stated that hedge fund positioning in US stocks has created conditions for a significant market rebound after recent volatility. Speculative investors are largely maintaining long positions at the individual stock level, while hedging through products such as shorting ETFs and stock index futures. Data from the bank's main brokerage team shows that short positions in these products have now risen to their highest level since September 2022. This structure reflects the market's response to uncertainty stemming from the Iran war, credit risk, and AI-related concerns. John Flood, Head of Execution Services for Equities in the Americas at Goldman Sachs and Partner, said that this structure could also drive a significant market rally if positive news emerges and prompts investors to unhedge. "If there are headlines announcing the end of the conflict, there could be a rapid upward movement at the index level. It could rise 2% to 3% in a short period, with most of that coming from short covering in macro products," Flood said. "Currently, the right-tail risk is more extreme than the left-tail risk," meaning the market is more likely to experience significant upward volatility. "Given the very high overall exposure and the large amount of short selling in macro products, any positive news could trigger aggressive short covering." (Jinshi)

Howard Schultz, the billionaire and former CEO of Starbucks, has relocated to Miami after spending over 40 years in Seattle. Bloomberg posted on X, highlighting that Schultz has also moved his family office to the new location. This move marks a significant change for Schultz, who has been a prominent figure in Seattle's business community for decades.

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