CFA Report Pegs US Crypto Fraud Losses at $80.7B

Google Trends data shows a surge in searches for "Bitcoin going to zero" and "Is Bitcoin dead?" as the cryptocurrency's value drops from its October peak. The Fear and Greed index hit a low of 5, indicating "Extreme Fear" in the market.

Industry experts warn that Russia may block citizens from trading crypto on overseas exchanges as early as this summer, with Roskomnadzor expected to initiate mass blocking of unregistered platforms. The Kremlin aims to enforce stricter regulations on crypto exchanges during the upcoming legislative session.

Eric Trump reiterated his $1 million bitcoin price prediction at the World Financial Forum in Mar-a-Lago, emphasizing his long-term optimism for the cryptocurrency. He highlighted bitcoin's performance over the last decade and its potential for significant growth despite recent price fluctuations.

Blockfills, a crypto lender backed by Susquehanna, is seeking a buyer after suffering approximately $75 million in losses during the recent market downturn. The company suspended deposits and withdrawals, aiming to restore liquidity swiftly for its 2,000 institutional clients.

CME Group will introduce 24/7 crypto futures and options trading in late May, allowing continuous trading with a two-hour weekly maintenance break. This move aligns with Wall Street's shift towards nonstop stock trading, pending regulatory approval.

U.S. Senator Elizabeth Warren has urged the Treasury Department and the Federal Reserve to avoid using taxpayer dollars to support Bitcoin or rescue cryptocurrency firms during market downturns. Warren expressed concerns about potential government intervention benefiting wealthy investors and industry insiders, emphasizing the risks embedded in the crypto market.

Robinhood's testnet chain, focusing on tokenization and trading, has seen four million transactions in its first week. The platform's CEO, Vlad Tenev, mentioned that developers are already building on their L2 for tokenized real-world assets and financial services.

A former fund manager who embezzled $40 million in Bitcoin from Georgia's ex-prime minister was initially sentenced to 11 years in prison but later released after a plea deal. The manager admitted guilt, cooperated with the investigation, and paid compensation for damages.

Mike McGlone revised his Bitcoin forecast from $10,000 to $28,000 after social media backlash and a challenge from market analyst Jason Fernandes. Despite criticism, Fernandes maintains his stance on the potential impact of alarmist predictions in the crypto market.

The United Arab Emirates has accumulated around $344 million in unrealized profit from Bitcoin mining, with wallets holding 6,782 BTC valued at $450 million. The country's mining infrastructure remains active, producing approximately 4.2 BTC daily over the past week, showcasing a strategic digital reserve approach.