CFA Report Pegs US Crypto Fraud Losses at $80.7B

TRM Labs reported that HTX has revamped its wallet infrastructure post-UK sanctions, rapidly rotating deposit and hot wallets across various blockchains. The exchange's wallet rotation strategy creates a challenge for address-list screening to keep pace. HTX claimed that the activities represented "security-driven platform operations" that were common across the industry.

SecondFi, a Cardano wallet, was exploited by attackers who stole 16.1 million ADA from 374 wallets, prompting the service to cease operations despite patching the vulnerability. The attackers were sophisticated, possibly linked to North Korea's Lazarus Group, but the Cardano network itself remained uncompromised.

The U.S. Senate Democrats and the White House are at odds over who will enforce the ban on government officials' significant crypto ties in the Digital Asset Market Clarity Act. The bill's progress hinges on reaching a compromise on this ethics restriction before the Senate's summer recess.

Jack Dorsey has introduced Buzz, a decentralized group chat platform for teams, aiming to reduce reliance on platforms like Slack. The app, built on the Nostr protocol, allows users to chat, plan, code, and manage projects in one shared space.

Pavel Durov announced the upcoming rollout of a native non-custodial cryptocurrency wallet for Telegram, offering instant, zero-fee transactions for over 1 billion users. The new wallet will allow users to hold their own funds securely without a company controlling the keys.

The final draft of the Clarity Act has been delayed as negotiators work on restricting senior government officials' ties to the crypto industry, including Trump. Democrats have not been briefed on Trump's concession, leading to a potential roadblock in the legislation's progress.

The White House has finalized an ethics package for the Clarity Act and shared it with specific Senate Republicans, according to industry sources cited by Crypto In America. The details of the agreement are currently unknown, but there is optimism among industry participants for the release of updated bill text.

Former New York governor Andrew Cuomo has joined OKX's board of directors, promoting 24/7 tokenized stock trading on Fox Business. Cuomo advises OKX on US regulatory strategy and co-chairs a joint venture with Intercontinental Exchange to tokenize NYSE-listed equities.

A parliamentary inquiry has been launched by UK lawmakers to investigate banking challenges faced by the country's crypto industry, focusing on account opening difficulties and payment restrictions by banks. The inquiry aims to assess if these barriers could hinder the UK's goal of becoming a global leader in digital assets.