Today in crypto, A California man was sentenced to 70 months behind bars for his role in a $263 million crypto scam group, US spot Bitcoin ETFs recorded $2.12 billion in inflows over nine days, and a crypto-aligned political action committee (PAC) pulled back from a major ad push in a key Texas Senate race.

DOJ sentences individual to 70 months in jail for role in crypto scam organization

The United States Department of Justice (DOJ) announced on Friday that Evan Tangeman, a 22-year-old resident of California, was sentenced to 70 months in prison for his role in a criminal organization that stole about $263 million in cryptocurrencies from victims. 

Tangeman pleaded guilty in December 2025, admitting to laundering at least $3.5 million in stolen funds on behalf of the criminal organization, which funneled the money into luxury items, exotic cars and real estate, according to the DOJ’s announcement.

Source: US Attorney for Washington DC

“This criminal enterprise was built on greed so brazen it borders on the cartoonish,” Jeanine Pirro, the US attorney for the District of Columbia (DC), said. She added:

“Evan Tangeman didn't just launder the money that fueled that lifestyle. When his co-conspirators were arrested, he moved to destroy the evidence. That is consciousness of guilt, and this office and the court have treated that accordingly."

The sentence came amid an uptick in violent physical attacks and social engineering scams targeting cryptocurrency users worldwide.

Spot Bitcoin ETFs see 9-day inflow streak as investors show resilience

US spot Bitcoin exchange-traded funds (ETFs) have extended their inflow momentum through late April, notching a nine-day streak amid growing investor conviction.

During the period, which spanned April 14 and April 24, total net inflows reached roughly $2.12 billion, with the strongest single-day performance on April 17, when funds attracted $663.91 million. April 14 and April 22 also posted robust gains of $411.50 million and $335.82 million, respectively.

The weakest day came on Friday, with a more modest $14.45 million in net inflows. BlackRock’s IBIT led the day with $22.88 million in inflows. In contrast, Fidelity’s FBTC recorded outflows of $1.69 million, while Bitwise’s BITB and ARK 21Shares’ ARKB saw withdrawals of $8.85 million and $9.02 million, respectively. Other funds, including Grayscale’s GBTC and smaller products, reported largely flat flows.

The April streak is the first nine-day run for spot Bitcoin (BTC) ETFs since a similar run in October, when inflows surged, including $1.21 billion on Oct. 6 and $875.6 million on Oct. 7.

Crypto PAC pulls back from Texas Senate ad buy

A crypto-backed political action committee is reportedly stepping away from a major ad push in a key US Senate race, highlighting early friction between digital asset money and traditional party politics.

The Fellowship PAC, which launched with claims of more than $100 million in crypto-aligned backing, had disclosed $1.75 million in ad spend supporting Texas Attorney General Ken Paxton in his Republican runoff bid.

The expenditure, filed with the Federal Election Commission through marketing firm Nxum Group, was reportedly never executed. Despite that, the filing remained publicly visible, raising questions about how and why the reversal happened after it had already been disclosed.

According to reports, Republican leaders raised concerns about the PAC’s involvement and its ties to Howard Lutnick and Cantor Fitzgerald, which has partially funded Fellowship. The scrutiny appears to have played a role in the group backing off — an unusual move in a space where crypto PACs typically double down on their supported candidates.

Fellowship PAC expenditure report. Source: FEC