A controversial Russian cryptocurrency businessman has died as he crashed his $400,000 Lamborghini in the north of Moscow. The alleged Bitcoin millionaire had amassed hundreds of unpaid traffic fines, authorities say, many of which were imposed for speeding. Russian crypto figure flips his Lamborghini in Moscow Crypto entrepreneur Alexei Dolgikh died in a high-speed car […]A controversial Russian cryptocurrency businessman has died as he crashed his $400,000 Lamborghini in the north of Moscow. The alleged Bitcoin millionaire had amassed hundreds of unpaid traffic fines, authorities say, many of which were imposed for speeding. Russian crypto figure flips his Lamborghini in Moscow Crypto entrepreneur Alexei Dolgikh died in a high-speed car […]

Russian crypto entrepreneur Alexei Dolgikh dies in high-speed car crash

2025/11/11 22:03

A controversial Russian cryptocurrency businessman has died as he crashed his $400,000 Lamborghini in the north of Moscow.

The alleged Bitcoin millionaire had amassed hundreds of unpaid traffic fines, authorities say, many of which were imposed for speeding.

Russian crypto figure flips his Lamborghini in Moscow

Crypto entrepreneur Alexei Dolgikh died in a high-speed car crash on a major traffic artery in the Russian capital, local media reported.

Another man has also died, while two more have been hospitalized with severe injuries, as a result of the terrifying road accident, which occurred on Sunday.

The city prosecutor’s office revealed that Dolgikh, who was driving his Lamborghini Urus, “hit an obstacle” on Mezhdunarodnoe Highway after midnight.

He lost control of the luxury SUV, which rolled over and burst into flames, Moscow’s traffic police added, quoted by RBC and RTVI.

According to the Telegram channel Mash, which posted a dash cam video of the aftermath, the Lambo was moving at 150 km/h when the driver failed to negotiate a turn and hit a guardrail.

Other sources, such as Shot, reported that Dolgikh flipped the car upside-down at 100 km/h, which is still double the speed limit at the exit to Leningradskoye Highway.

Parts of the Urus were scattered around the bridge there, after it knocked down a CCTV camera pole. A wad of 5,000-ruble bills was reportedly found near the smashed and burned sports car.

According to Baza, another Telegram channel with ties to Russian security agencies, the 36-year-old Alexei Dolgikh died on the spot. The second deceased person was identified as Ivan Solovyov.

The two injured men were 21-year-old Nikita Tezikov, who suffered an open leg fracture, and 22-year-old Kirill Mochalov, who was taken to Botkin Hospital with multiple fractures.

Dolgikh was in debt, including speeding tickets

The Russian crypto businessman bought the luxury car for 35 million rubles (over $430,000) in August 2024, Baza further unveiled. Since then, he managed to accumulate several hundred traffic fines.

Shot claims the exact number is 586, and “almost all of them were for speeding” while some were for driving unbuckled, according to Mash. Most of the fines were forwarded to the Federal Bailiff Service.

Alexei Dolgikh had around 230 unpaid tickets for a total of more than 1.3 million rubles ($16,000), the TASS news agency reported, citing law enforcement sources. They confirmed the cause of the crash was speeding and also unveiled:

According to documents seen by TASS, he had 240 enforcement proceedings opened against him, including for traffic fines and loan debts, among other reasons.

Lambo and Russian owner involved in shootout

In September last year, Dolgikh and his Lamborghini were involved in a shootout at a fancy restaurant in Moscow’s affluent residential area in the downtown Presnensky District.

At the time, Shot reported that the expensive vehicle and its owner provided the getaway drive after the incident in the Patriarch’s Ponds park in the Russian capital.

According to the Moskovskiy Komsomolets daily, a group of men started harassing a girl at the Aist restaurant. Another company made a reprimand and then fired a few shots from a pistol at them, before fleeing the scene in the infamous Urus, with Dolgikh at the wheel.

The scandalous crypto businessman was wanted by Russian police for a while and eventually turned himself in, admitting he was there and made a statement, but claiming to have left before the shooting started. Two other men were later arrested and charged with hooliganism.

RTVI highlighted another detail revealed by Shot, which alleged that Dolgikh had been suspected of money laundering and blacklisted by Russian banks.

Alexei Dolgikh’s fatal crash in Moscow is the fourth tragic death to shake the region’s cryptocurrency space in the past few weeks.

Last week, Russian media revealed details about the gruesome murder of alleged crypto scammer Roman Novak and his wife Anna in Dubai, where they were killed by kidnappers in October.

Earlier in November, the founder and chief executive of failed Turkish crypto exchange Thodex, Fatih Özer, was found dead in his prison cell, where he reportedly hanged himself. The apparent suicide has raised questions in Turkey, as reported by Cryptopolitan.

If you're reading this, you’re already ahead. Stay there with our newsletter.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Fed Decides On Interest Rates Today—Here’s What To Watch For

Fed Decides On Interest Rates Today—Here’s What To Watch For

The post Fed Decides On Interest Rates Today—Here’s What To Watch For appeared on BitcoinEthereumNews.com. Topline The Federal Reserve on Wednesday will conclude a two-day policymaking meeting and release a decision on whether to lower interest rates—following months of pressure and criticism from President Donald Trump—and potentially signal whether additional cuts are on the way. President Donald Trump has urged the central bank to “CUT INTEREST RATES, NOW, AND BIGGER” than they might plan to. Getty Images Key Facts The central bank is poised to cut interest rates by at least a quarter-point, down from the 4.25% to 4.5% range where they have been held since December to between 4% and 4.25%, as Wall Street has placed 100% odds of a rate cut, according to CME’s FedWatch, with higher odds (94%) on a quarter-point cut than a half-point (6%) reduction. Fed governors Christopher Waller and Michelle Bowman, both Trump appointees, voted in July for a quarter-point reduction to rates, and they may dissent again in favor of a large cut alongside Stephen Miran, Trump’s Council of Economic Advisers’ chair, who was sworn in at the meeting’s start on Tuesday. It’s unclear whether other policymakers, including Kansas City Fed President Jeffrey Schmid and St. Louis Fed President Alberto Musalem, will favor larger cuts or opt for no reduction. Fed Chair Jerome Powell said in his Jackson Hole, Wyoming, address last month the central bank would likely consider a looser monetary policy, noting the “shifting balance of risks” on the U.S. economy “may warrant adjusting our policy stance.” David Mericle, an economist for Goldman Sachs, wrote in a note the “key question” for the Fed’s meeting is whether policymakers signal “this is likely the first in a series of consecutive cuts” as the central bank is anticipated to “acknowledge the softening in the labor market,” though they may not “nod to an October cut.” Mericle said he…
Share
BitcoinEthereumNews2025/09/18 00:23
Stunning 230% Surge: UAE Sovereign Fund’s Massive Bitcoin ETF Expansion Signals Institutional Confidence

Stunning 230% Surge: UAE Sovereign Fund’s Massive Bitcoin ETF Expansion Signals Institutional Confidence

BitcoinWorld Stunning 230% Surge: UAE Sovereign Fund’s Massive Bitcoin ETF Expansion Signals Institutional Confidence Have you ever wondered what happens when one of the world’s wealthiest sovereign funds decides to go all-in on Bitcoin? The United Arab Emirates is making headlines with an astonishing 230% increase in their Bitcoin ETF holdings since June, signaling a massive shift in institutional cryptocurrency adoption. What Does This Bitcoin ETF Explosion Mean for Crypto Markets? The UAE sovereign wealth fund now holds 7.9 million shares of Bitcoin ETFs, valued at approximately $517 million. This represents one of the most significant institutional moves into cryptocurrency this year. The rapid expansion demonstrates growing confidence among traditional financial giants in digital assets. This massive Bitcoin ETF accumulation didn’t happen overnight. Let’s break down what makes this development so crucial: Institutional validation – Sovereign wealth funds represent the most conservative investment entities Market confidence – A 230% increase shows strong belief in Bitcoin’s long-term value Regional leadership – UAE positions itself as a crypto hub in the Middle East Why Are Sovereign Wealth Funds Embracing Bitcoin ETF Products? Sovereign wealth funds typically manage national savings for future generations. Their investment in Bitcoin ETF products indicates a strategic shift toward digital assets as legitimate store-of-value instruments. The timing is particularly interesting given recent market conditions. The benefits driving this Bitcoin ETF adoption include: Portfolio diversification beyond traditional assets >Inflation hedging capabilities Exposure to technological innovation Liquidity and regulatory clarity through ETF structures How Does This Impact Global Bitcoin ETF Adoption Trends? The UAE’s move creates a powerful domino effect across global markets. Other sovereign wealth funds and institutional investors often follow early adopters in conservative investment circles. This Bitcoin ETF accumulation sets a precedent that could accelerate worldwide institutional adoption. Consider these implications for the broader Bitcoin ETF landscape: Increased legitimacy for cryptocurrency investments Potential for other Middle Eastern funds to follow suit Enhanced regulatory acceptance in traditional finance circles Strong price support through institutional buying pressure What Challenges Do Institutions Face with Bitcoin ETF Investments? Despite the enthusiasm, sovereign wealth funds encounter several hurdles when investing in Bitcoin ETF products. Regulatory uncertainty remains a primary concern, along with volatility management and custody solutions. However, the UAE’s substantial commitment suggests these challenges are being effectively addressed. The successful navigation of these obstacles paves the way for: More sophisticated risk management frameworks Improved regulatory guidelines for institutional crypto investing Enhanced security protocols for digital asset custody Better integration with traditional portfolio strategies Conclusion: A New Era for Bitcoin ETF Institutional Adoption The UAE sovereign wealth fund’s staggering 230% Bitcoin ETF expansion marks a pivotal moment in cryptocurrency history. This move demonstrates that digital assets have graduated from speculative instruments to legitimate components of sovereign investment strategies. The massive capital allocation signals confidence that will likely inspire similar moves from other conservative institutions worldwide. Frequently Asked Questions What exactly is a Bitcoin ETF? A Bitcoin ETF is an exchange-traded fund that tracks Bitcoin’s price, allowing investors to gain exposure without directly holding cryptocurrency. Why are sovereign wealth funds investing in Bitcoin ETFs now? Sovereign funds seek diversification, inflation protection, and exposure to innovative assets that traditional markets no longer provide adequately. How significant is a $517 million Bitcoin ETF investment? For context, this represents one of the largest public institutional Bitcoin positions and signals strong confidence to other conservative investors. Will other sovereign funds follow the UAE’s Bitcoin ETF strategy? Industry experts believe this could trigger a wave of similar investments as sovereign funds typically monitor and emulate each other’s successful strategies. What risks do sovereign funds face with Bitcoin ETF investments? Primary concerns include regulatory changes, price volatility, custody security, and integration with existing investment frameworks. How does this affect individual Bitcoin investors? Institutional adoption typically brings increased market stability, regulatory clarity, and mainstream acceptance, benefiting all participants. Found this analysis of the UAE’s massive Bitcoin ETF expansion insightful? Share this groundbreaking institutional adoption story with your network on social media to spread awareness about cryptocurrency’s growing mainstream acceptance! To learn more about the latest Bitcoin trends, explore our article on key developments shaping Bitcoin institutional adoption. This post Stunning 230% Surge: UAE Sovereign Fund’s Massive Bitcoin ETF Expansion Signals Institutional Confidence first appeared on BitcoinWorld.
Share
Coinstats2025/11/15 01:10