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The US Justice Department is preparing to drop charges with prejudice against Matthew Goettsche, the alleged mastermind behind BitClub Network, a cryptocurrency mining scheme prosecutors said defrauded investors of $722 million. Goettsche was indicted in 2019 on wire fraud and unregistered securities charges and was scheduled to stand trial in October. Prosecutors alleged BitClub Network used false claims about crypto mining profits to attract investors while rewarding members for recruiting others. The DOJ said the decision was based on the case's seven-year timeline and efforts to recover money for victims, and denied that pressure from Goettsche's attorneys influenced the outcome. Three co-defendants previously pleaded guilty. Final terms are still being negotiated before the dismissal is submitted to the court.

JUST IN: 🇺🇸 Trump DOJ to drop charges against the mastermind of $722,000,000 crypto Ponzi scheme, Bloomberg reports.

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OpenAI and Google provided advanced AI services to Singapore-based affiliates of Alibaba, Baidu and Tencent, according to a Financial Times report. The Chinese parent companies are included on the Pentagon's 1260H list, but the AI access reportedly remained legal under current US rules because the services were used outside mainland China. OpenAI said it blocks direct access from China but allows some Chinese-owned companies to use its models in other markets where safeguards are in place. The company later suspended API access for users linked to Alibaba after detecting possible model "distillation," a method that can use outputs from advanced AI systems to improve rival models. OpenAI said it also informed the US government. Google said its AI products remain available in markets such as Singapore and Hong Kong under existing policies. The report has added to calls in Washington for tighter restrictions on access to advanced AI technology.

JUST IN: 🇺🇸🇨🇳 OpenAI and Google are selling advanced AI models to Chinese tech giants blacklisted by the US government, FT reports.

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JUST IN: 🇷🇺 Russia's largest private bank begins testing crypto trading services.