The Daily: MegaETH developer raises $10 million in minutes, US crypto tax evader sentenced to two years and more

MegaLabs, the developer of MegaETH, raised $10 million in under three minutes on Echo, marking the platform’s largest sale to date with 3,200 investors from 94 countries.Frank Richard Ahlgren III from Austin, Texas, was sentenced to two years in prison on Thursday for falsely underreporting capital gains made from selling $3.7 million worth of bitcoin.Crypto exchange Gate.io dismissed rumors of a security breach on Friday morning, confirming no abnormalities or issues were detected.The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.