SEC's Crypto Enforcer Quits; Drake Could Lose $1M in Bitcoin From NHL and NBA Bets

Sec crypto enforcer moves on and Drake could lose $1 million worth of crypto. You're watching Coin Desk Daily, I'm your host, Jen Sani, the US S ECs crypto enforcer. David Hirsch has left the organization in a post on linkedin. He said that he is proud of the historic work done by the crypto assets and Cyber unit team that he led. He did not say what his next professional endeavor would be. Hirsch was the S ECs crypto enforcer against Cryptocurrency exchanges and decentralized finance projects. South African President Cyril Ramaphosa was re-elected on Friday. The candidate from the African National Congress Party will lead the country's first multiparty coalition government. The election results are not expected to have an impact on the country's growing crypto industry. South Africa is one of the first African nations to set up a licensing regime for digital assets and crypto companies, Luo Zali and Valor were among the first to get a license in April. And Canadian rapper Drake is on the verge of losing $1 million worth of crypto after placing 2 $500,000 bets on the Edmonton Oilers and the Dallas Mavericks to win their respective Stanley Cup and NBA finals. Both the Oilers and Mavericks are down 3 to 1 in their best of seven series, which means they face elimination if they lose their upcoming games. Drake plays the bets using Bitcoin on crypto casino stake. The rapper has had partnerships with the platform in the past so he may be getting incentives to post about these bets even if they don't pay off stake, partnered with Drake in 2022 in a deal that the singer described as inevitable stake made $2.6 billion in revenue in the same year. That's it for coin desk daily, get more updates on coindesk.com and we'll see you next time.