CFA Report Pegs US Crypto Fraud Losses at $80.7B

Crypto.com has received conditional approval from the OCC for a national trust banking charter, allowing services like digital asset custody and trade settlement. This approval brings the firm closer to becoming a federally regulated national trust bank under OCC oversight.

The stablecoin USD1, issued by World Liberty Financial, experienced a brief drop in value on Monday, which the firm attributed to a "coordinated attack" involving hacking and disinformation campaigns. Despite the incident, the token quickly recovered to its pegged value.

Missouri lawmakers are making another attempt to establish a Bitcoin strategic reserve fund in the state, with key differences in the new version of the bill. The bill aims to allow the state to accept Bitcoin donations, investments, and gifts from residents or governmental entities.

Strategy disclosed its recent $40 million Bitcoin purchase, increasing its total holdings to 717,722 Bitcoin worth $47 billion. The company's stock price fell 2.5% to $127, reflecting a 64% decrease over the past six months.

French police report reveals that victims of crypto kidnappings in France are mostly aged 20-35, with 40 cases occurring between 2023 and 2025. Overseas criminal kingpins are behind many of these incidents, targeting individuals involved in the crypto sector.

Over the past five weeks, digital asset investment products have experienced continuous outflows totaling $4 billion, with Bitcoin leading the negative sentiment by suffering $215 million in outflows last week. Despite minor inflows in select altcoins, overall investor interest in crypto remains low.

ProCap Financial has initiated a share repurchase program to narrow the gap between its stock price and net asset value (NAV). The company recently purchased over 148,000 shares at around $2.30 each, totaling approximately $341,000, representing a 35% discount to the value of its Bitcoin holdings.

BitMine Immersion Technologies acquired an additional 51,162 ETH last week, totaling 4,422,659 ETH valued at $8.4 billion. Despite unrealized losses exceeding $8.1 billion, the firm remains committed to steadily accumulating Ethereum.

Elliptic's report reveals that Russian-linked crypto exchanges facilitate transactions for sanctioned entities, enabling ruble-to-crypto conversions and cross-border fund transfers outside traditional banking systems. The report emphasizes how these pathways can evade sanctions and complicate enforcement efforts.

Despite the recent crash in Bitcoin's price, Mexican billionaire Ricardo Salinas remains unfazed, advocating for buying while the price is low. With a net worth of $4.9 billion, Salinas has been a vocal supporter of Bitcoin, viewing it as protection against inflation and theft.