CFA Report Pegs US Crypto Fraud Losses at $80.7B

David Sacks is stepping down from his role as the White House’s AI and crypto czar after reaching the 130-day limit. He will continue as co-chair of the President’s Council of Advisors on Science and Technology, advising on broader technology issues.

Bo Shen, founder of Fenbushi, offers a 10-20% bounty for help recovering $42 million in stolen Bitcoin, Ethereum, and stablecoins. The theft occurred in 2022, with $1.2 million frozen so far, aided by on-chain analysts Taylor Monahan and ZachXBT.

OKX, a global crypto exchange, is cautious about entering the U.S. public markets despite recent strategic investments and growth. The company aims to prioritize shareholder value and long-term returns before considering an IPO.

Ripple has introduced an AI-driven security upgrade for the XRP Ledger, with a red team uncovering over 10 bugs. The company will prioritize security by focusing on bug fixes and requiring multiple security audits for protocol changes.

Retail investors are increasingly favoring Strategy's preferred share over common stock, with individuals holding 80% of STRC shares compared to 40% of MSTR shares, CEO Phong Le said Thursday. This shift reflects a preference for low-volatility, high-yield digital credit among retail investors.

Xinbi, a major illicit marketplace in Southeast Asia, has been sanctioned by the UK government for providing cryptocurrency services to scam centers. The sanctions aim to cut off Xinbi from the legitimate crypto ecosystem, affecting its ability to conduct transactions.

The recently passed "Anti-Gang Law" in Brazil allows authorities to seize digital assets from criminals to combat organized crime effectively. The law enables judges to order precautionary measures like freezing of digital assets in cases of serious crimes.

Coinbase criticizes the UK government's ban on crypto donations, stating it fails to address legitimate concerns about the identity and source of funds. The ban is aimed at preventing foreign interference in UK politics and is viewed as a setback for Reform UK.

Tether has launched its gold-backed token XAUT on BNB Chain, connecting the ecosystem to the largest gold-backed token with a $2.5 billion market cap. Each XAUT token represents one fine troy ounce of physical gold held in Swiss vaults.

MARA Holdings sold 15,000 Bitcoin for $1.1 billion to repurchase convertible debt, leaving them with 38,700 BTC. The move saved $88 million and reduced shareholder dilution, boosting stock price by 9%.