CFA Report Pegs US Crypto Fraud Losses at $80.7B

Ripple is buying back up to $750 million in shares at a $50 billion valuation, representing a 25% increase from its previous fundraising round. CEO Brad Garlinghouse believes the company has the potential to reach a $1 trillion valuation in the future.

Bloomberg Intelligence's Mike McGlone reiterates his prediction of Bitcoin potentially dropping below $10,000, citing the need for an extreme macroeconomic shock. Other analysts agree on the possibility of further downside but find a drop to $10,000 highly improbable.

Revolut has obtained a full U.K. banking license, enabling expanded services and deposit protection for eligible funds. The company, valued at $75 billion, will transition customer accounts to Revolut Bank UK Ltd. gradually, maintaining existing features.

The FDIC Chairman stated that stablecoin users won't have government guarantees under the new U.S. law, banning FDIC insurance for stablecoin holdings. The GENIUS Act prohibits pass-through insurance for payment stablecoins, aiming to differentiate them from bank deposits.

Foundry Digital plans to launch a Zcash mining pool next month, catering to institutions lacking infrastructure for Zcash transactions. The move aims to provide shared resources for earning the privacy-focused cryptocurrency, with round-the-clock tech support and auditable payouts.

The Crypto Partner Program by Mastercard unites over 85 crypto companies and financial institutions, recognizing the practical applications of digital assets in areas like cross-border remittances and business transfers. Partners include industry giants like Binance, Ripple, and PayPal, aiming to integrate digital assets into global commerce flows.

Stephen Gregory has been appointed as the new CEO of Binance.US, replacing Norman Reed. With a background in compliance and leadership roles at various crypto exchanges, Gregory aims to guide the company through its next phase of growth and innovation in the evolving U.S. crypto exchange landscape.

Brera Holdings, also known as Solmate, is repositioning to focus on being a Solana infrastructure company in Abu Dhabi, leading to a 19% drop in SLMT shares. The firm will divest from soccer clubs in Mozambique and Mongolia to fund its new strategy.

Ghana's SEC has approved 11 companies to participate in a regulatory sandbox for testing cryptocurrency and digital asset services under the Virtual Asset Service Providers Act. The program will last 12 months, allowing companies to refine their services and potentially transition to a full license.

The U.S. Justice Department is investigating Iran's potential use of Binance to evade sanctions, with officials seeking interviews and evidence. Binance has denied direct transactions with sanctioned entities, stating it uncovered financial activity linked to Iran after investigation.