Drake Named in RICO Lawsuit Over Alleged Crypto Gambling Promotions Seeking Over $5 Million
- Lawsuit Background: Drake and other defendants are named in a federal class-action lawsuit for allegedly promoting the illegal crypto gambling platform Stake.us, which attempts to circumvent U.S. gambling laws by masquerading as a 'social casino', impacting a large audience.
- False Promotion Impact: The complaint alleges that Drake and Adin Ross acted as paid promoters for Stake.us, gambling with funds secretly provided by the platform, misleading young fans into participating in high-stakes gambling, creating what is termed the 'Drake effect'.
- Streaming Manipulation Allegations: The lawsuit also claims that the defendants used an unregulated 'tipping' feature to transfer funds, financing bots and streaming farms to artificially inflate Drake's music streaming data, distorting music charts.
- Legal Consequences: Plaintiffs accuse the defendants of violating the RICO Act, seeking at least $5 million in damages and requesting a jury trial; none of the allegations have been proven in court, and all defendants are presumed innocent as the case proceeds.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
About the author
