CFA Report Pegs US Crypto Fraud Losses at $80.7B

Trump Media and Technology Group plans to spin off Truth Social into a separate public entity, merging with Texas Ventures III. The move aims to create shareholder value through distinct strategies for each company. Details on the fate of Trump Media's crypto initiatives remain unclear.

Transactions on Bitcoin's Lightning Network are increasing, with larger transactions being processed regularly. The network, initially intended for microtransactions, is now facilitating significant transfers, such as a recent $1 million transaction by Kraken.

Ripple aims to diversify funding for XRP Ledger development through a new FinTech Builder Programme, university partnerships, and venture capital support. The company seeks to create a more distributed model for ecosystem funding to support builders.

South Korea's National Tax Service mistakenly published seed phrases in a press release, allowing an unidentified individual to steal $4.8 million worth of tokens. The incident led to the return of the tokens after being transferred to an Ethereum address ending in "86c12."

Legislation introduced in Minnesota aims to ban crypto ATMs due to increasing scams targeting the elderly. The bill, HF 3642, follows a 2024 state framework imposing transaction limits and refund requirements to address risks associated with these machines.

Adam Weitsman's X account was hacked to promote a fake forex trading course and a phony "Clawed Ape Yacht Club" memecoin. The account was recovered by an associate after suspicious activity was detected, including sharing scams promising high returns.

The U.K. Gambling Commission is considering allowing crypto payments for licensed betting operators to combat illegal markets and promote innovation. Executive Director Tim Miller highlighted the growing consumer demand for crypto and the need to address the issue of players being driven to unlicensed sites.

The collapse of Crypto Capital Corp, once a key player in the crypto industry, involved $850 million seized in 2018-2019. Individuals like Reginald Fowler and Ivan Manuel Molina Lee faced legal consequences, with links to an Israeli mafia cocaine ring emerging.

The Scam Center Strike Force has frozen and seized over $580 million in cryptocurrency from Southeast Asian crime networks, aiming to return funds to victims. This initiative, founded in November 2025, targets transnational criminal networks involved in "pig butchering" scams.

Terra Luna Classic (LUNC) surged 15.5% in the past 24 hours due to a lawsuit filed against trading firm Jane Street. The sudden uptick was driven by spot buyers, with open interest climbing from $100 million to $160 million.