CFA Report Pegs US Crypto Fraud Losses at $80.7B

Jonathan Spalletta, accused of a $53 million exploit on Uranium Finance, surrendered to U.S. authorities. The case highlights courts' scrutiny of smart contract exploits and money laundering in the crypto space.

The Ethereum Foundation has staked a total of 24,623 ETH, valued at around $50 million, as part of its staking initiative to enhance financial sustainability. This move is in line with its revamped treasury strategy unveiled last June, aiming to support decentralized finance protocols.

Archblock, TrustToken, and TrueCoin have filed for Chapter 11 bankruptcy protection due to fraud and failed deals. Techteryx's nonpayment and a criminal enterprise from Eastern Europe are cited as reasons for the financial downfall.

Block's Square payments platform has shifted to automatically enabling Bitcoin payments for eligible U.S. sellers, with the feature rolling out gradually to all merchants in the coming month. This strategic move aims to expand mainstream adoption of Bitcoin payments and comes with zero fees for accepting transactions.

Bernstein analysts reduced price targets for Coinbase, Robinhood, and Figure Technology Solutions due to geopolitical challenges and weak crypto sentiment. Despite the cuts, they maintained "Outperform" ratings, foreseeing growth opportunities in trillion-dollar markets.

Ethereum investment products experienced the largest losses among digital asset exchange-traded products last week due to concerns over the Clarity Act. This led to a total crypto fund outflow of $414 million, the first negative in five weeks, with Ethereum funds shedding $222 million.

American Bitcoin Corp, co-founded by Eric Trump and Donald Trump Jr., now holds over 7,000 BTC worth $471 million. Despite tripling its Bitcoin holdings since going public, shares have dropped 88% in the last six months.

Gnosis and Zisk introduced a framework for aligning Ethereum's infrastructure by creating an "economic zone" to address layer-2 scaling network limitations. The Ethereum Economic Zone (EEZ) aims to provide a shared environment for layer-2 networks to operate and improve user experiences.

Steakhouse Financial's front-end breach has exposed users to a phishing scam, with hackers implementing a malicious version of the website and app. Despite the attack, the firm assured users that no deposits or contracts are at risk, and they are working to restore the front-end promptly.

BitMine Immersion Technologies added 71,179 ETH worth $146 million last week, bringing their total to 4,732,082 ETH valued at $9.7 billion. Chairman Tom Lee noted crypto's outperformance during the Iran war, emphasizing ETH's gains compared to traditional assets.