Morgan Stanley's Bitcoin ETF Could Attract $160 Billion, Says Strategy CEO

The International Consortium of Investigative Journalists (ICIJ) discovered that illicit actors moved large amounts of crypto through various platforms, making tracing difficult for exchanges and law enforcement. The investigation revealed a widening technical gap between blockchain records and processing capabilities.

The Russian Constitutional Court is considering a case involving a USDT 1,000 loan from 2023, with top regulators and Central Bank officials involved. Experts are debating whether stablecoins like USDT fall under digital financial assets law in Russia.

A Brazilian lawmaker proposed a bill to empower judges to freeze cybercrime suspects' crypto assets and compensate fraud victims. The bill aims to combat rising crypto-related fraud by granting judges new authority over registered crypto exchanges.

A degen gambler lost $5.5 million on HyperLiquid after shorting bitcoin and zcash with leveraged positions worth $168 million. Despite the losses, the trader doubled down on shorting bitcoin and ether on GMX with $115 million positions.

The Trump administration is moving towards approving rules for the IRS to access information on Americans' foreign crypto accounts to enforce taxation. The proposed rules, part of the Crypto-Asset Reporting Framework, aim to combat international tax evasion.

Last week, global outflows from crypto exchange-traded products hit $2 billion, with BlackRock's Bitcoin ETF experiencing a record single-day withdrawal of $463.1 million. The market downturn led to a 27% decline in digital asset ETP assets under management, with the U.S. accounting for 97% of outflows.

Strategy purchased $835 million worth of Bitcoin, increasing its holdings to nearly 650,000 Bitcoin valued at around $61 billion. The company also introduced euro-denominated preferred shares to boost funding for Bitcoin acquisitions.

The FSA in Japan has finalized a plan to reclassify 105 cryptocurrencies as financial products under the Financial Instruments and Exchange Act, subjecting them to the same standards as traditional securities. This includes detailed disclosure requirements and the introduction of insider trading rules for the crypto sector.

The recent downturn in Bitcoin and Ethereum has negatively impacted digital asset treasury companies (DATs) like Saylor's Strategy and Metaplanet, with some experiencing losses of up to 90%. This has led to concerns about potential selling pressure among major players in the market.

Binance founder CZ Zhao addressed the possibility of seeking a refund for the $4.3 billion fine paid in the 2023 settlement with U.S. authorities. He mentioned that any potential refund would be invested in America to show appreciation.