CFA Report Pegs US Crypto Fraud Losses at $80.7B

A federal judge has certified a class of investors who allege that Nvidia and its CEO concealed the extent of gaming GPU revenues tied to crypto mining between 2017 and 2018. The court order highlighted internal emails and statements revealing the impact of crypto mining on Nvidia's business.

A U.S. federal court dismissed a lawsuit by a crypto developer over concerns of violating money transmission laws with a non-custodial donation platform. The court ruled the developer lacked standing to bring the case, leaving the legal question unresolved for the industry.

The Reserve Bank of Australia is progressing towards establishing the necessary legal and market infrastructure for tokenized asset markets, with regulators collaborating on frameworks for trading tokenized products within the financial system. This move aims to facilitate institutional participation in tokenized markets.

Google has set a 2029 deadline to transition its infrastructure to post-quantum cryptography due to the urgent threat posed by quantum computers to current cryptographic standards. The company aims to lead by example by integrating post-quantum digital signature protection across its platforms.

Two China-based pharmaceutical firms are accused by the US of using crypto to sell fentanyl precursor chemicals to Mexican cartels. The firms allegedly laundered money through crypto wallets and converted funds into fiat currency for international banks.

McLaren Racing, known for its success in Formula 1 and IndyCar, has become a member of the Hedera Council to assist in governing the enterprise blockchain network. The partnership includes contributing to software governance, actively participating in the network, and holding equal voting rights.

Circle shares rebounded slightly on Wednesday after a significant drop the day before due to developments related to stablecoins and Tether's audit announcement. Analysts believe that the market reaction to these events may have been excessive, with Circle's strategic demand case for USDC remaining intact.

CoinShares has quietly filed an amendment to register three new ETFs that track Bitcoin volatility, aiming to provide exposure to the volatility of Bitcoin for investors, institutions, and advisors. The suite includes a leveraged and an inverse variant, offering amplified exposure or the ability to bet against volatility.

Franklin Templeton and Ondo Finance are collaborating to offer tokenized versions of five ETFs, including high-yield corporate and gold ETFs, for those without traditional brokerage accounts. The partnership aims to introduce new investment products on-chain and provide educational programs on traditional investments in emerging financial ecosystems.

Robinhood and Ripple have both announced significant share buyback programs, with Robinhood revealing a $1.5 billion buyback plan and Ripple reportedly buying back $750 million worth of shares. Despite facing challenges in the crypto market, Robinhood remains confident in its ability to create value for shareholders.