CFA Report Pegs US Crypto Fraud Losses at $80.7B

Despite the global equity markets being rocked by the Iran war and oil surge, Bitcoin remained relatively stable due to large traders and institutional flows stepping in during market dips. The demand for Bitcoin has been driven by OTC trades and renewed investor interest in the "carry trade."

The Bank Policy Institute, representing major Wall Street players, is considering legal action against the OCC for easing regulations on crypto and fintech firms seeking national banking charters. This move has sparked concerns about regulatory oversight and potential risks to the banking system.

Federal prosecutors are seeking a retrial for Tornado Cash developer Roman Storm on money-laundering charges after a previous jury deadlock. The government aims to retry Storm on two counts with a combined maximum sentence of up to 40 years.

Glassnode's market note indicates Bitcoin's market structure is stabilizing amid global tensions, with prices up 4.3% to around $69,100. Despite improving metrics, the recovery is described as "tentative" due to ongoing geopolitical uncertainties.

A scheme to influence Moldova's 2025 parliamentary elections involved using crypto to fund activists and bribe voters. The complex transaction scheme utilized non-custodial wallets and centralized crypto platforms in Russia and Kyrgyzstan, with funds converted into USDT for integration into Moldova's economy.

Jack Dorsey, CEO of Block Inc., reluctantly accepted customers' demand for stablecoins, diverging from his Bitcoin loyalty. He founded the Crypto Open Patent Alliance and emphasized Bitcoin's importance for an open money protocol.

Zcash, a privacy coin, has surged 7% in value, surpassing Bitcoin's rebound, as its core developers secure over $25 million in funding for the Zcash Open Development Lab (ZODL). The team, led by former ECC CEO Josh Swihart, focuses on wallet development and Zcash protocol advancement.

The VIX surged above 35, stocks and gold fell, and Bitcoin traded above $69,000 despite traditional market turmoil. Traders are divided on Bitcoin's future price movement, with the broader question of which bubble bursts first, crypto or equities, still looming.

Sharplink reported a $734 million loss due to Ethereum's price drop, despite pivoting to become the second-largest corporate holder of Ethereum. The company's holdings decreased by $616 million, with a $140 million impairment charge on staked tokens.

Coinbase has introduced regulated crypto derivatives for traders in 26 European countries through Coinbase Advanced, complying with MiFID II regulations. The new product suite includes perpetual-style futures, dated contracts, and an equity-index product, offering leverage of up to 10 times with low fees.