CFA Report Pegs US Crypto Fraud Losses at $80.7B

John Daghita, son of a federal contractor, was arrested for allegedly stealing $46 million in crypto from the U.S. Marshals Service. The arrest followed an investigation by the FBI and French military unit, prompted by ZachXBT's exposure of the theft in January.

Core Scientific has secured up to $1 billion in financing from Morgan Stanley, with an initial agreement allowing borrowing of $500 million. The company plans to transition away from Bitcoin mining to focus on high-density colocation, aiming to expedite project timelines and expand its physical footprint.

South Korean tax officials mistakenly leaked a seed phrase, resulting in the theft of nearly $5 million worth of crypto. The original thief returned the stolen funds out of curiosity, but a second thief stole them again.

Ripple CEO Brad Garlinghouse advocates for the Clarity Act, which would shift crypto industry oversight to the CFTC. President Trump supports crypto firms in the ongoing clash with banking associations over stablecoin legislation.

Sillytuna, a game developer, said he lost nearly $24 million in crypto during a violent robbery involving weapons and threats. The incident was mistakenly linked to address poisoning, causing confusion in the crypto community.

The parent company of the New York Stock Exchange has invested in OKX, valuing the crypto exchange at $25 billion. This move will allow OKX users to trade tokenized stocks and derivatives listed on the NYSE later this year.

According to CoinShares, institutional investors have not panicked despite Bitcoin's recent drawdown. Professional allocators maintained positions, while longer-term investors like endowments and pensions continued to accumulate quietly. The market struggled due to macro pressures and profit-taking from long-term holders.

UK fintech company Revolut has applied for a U.S. banking license with the OCC to expand its services in the American financial system. If approved, this license would grant Revolut access to payment networks like Fedwire and ACH, potentially enabling the offering of lending products. The firm was one of four selected by the UK's Financial Conduct Authority for a stablecoin regulatory sandbox in February.

The New York Stock Exchange's parent company Intercontinental Exchange has invested in OKX at a $25 billion valuation, forming a partnership to allow the crypto exchange's users to trade tokenized stocks and derivatives listed on the NYSE. The move aligns with Intercontinental Exchange's strategy to adapt to changing trading habits in the financial industry.

ZeroHash has applied for a National Trust Bank Charter from the U.S. OCC to expand its stablecoin and digital asset services under federal oversight. The Chicago-based company aims to operate under a single federal framework, streamlining compliance with state-by-state regulations.