CFA Report Pegs US Crypto Fraud Losses at $80.7B

Steak ’n Shake's acceptance of Bitcoin nine months ago has significantly boosted its same-store sales, leading to the creation of a Strategic Bitcoin Reserve for employee bonuses. The company's CEO highlighted the importance of integrating Bitcoin as a digital asset treasury model.

Kraken plans to sponsor Trump Accounts for children born in Wyoming in 2026, providing $1,000 from the U.S. Treasury until 2028. The move is seen as a loyalty signal to the state, with potential additional contributions from families and entities.

Bitcoin's long-term holders are facing pressure after a recent sell-off, with signs of a weaker accumulation trend that could lead to a deeper correction. The 7-day moving average of the Long-Term Holder Spent Output Profit Ratio fell below 1, indicating veteran investors are realizing losses.

Maya, a Philippine digital bank with a regulated crypto trading arm, is considering a U.S. IPO of up to $1 billion. The company, operating under a digital banking license, offers various financial services including in-app cryptocurrency trading.

Nexo, after a $45 million settlement with the SEC in 2023, is relaunching its services in the U.S. through partnerships with licensed service providers. The company ceased its Earn Interest Product and is now offering compliant cryptocurrency trading, credit lines, and yield accrual.

Harvard University's endowment invested in Ethereum through BlackRock's iShares Ethereum Trust, while reducing its exposure to Bitcoin by selling shares of the iShares Bitcoin Trust. The move may be related to market dynamics rather than sentiment, as Bitcoin's price dropped significantly last quarter.

Standard Chartered has reduced its XRP price forecast by 65%, revising it from $8 to $2.80 due to recent market challenges. The bank also adjusted its predictions for Bitcoin, Ethereum, and Solana, anticipating further declines in the crypto market.

Animoca Brands has been granted a Virtual Asset Service Provider (VASP) license by Dubai's Virtual Assets Regulatory Authority (VARA), allowing the company to offer broker-dealer and asset management services to institutional and qualified investors in and from Dubai. This move aligns with the region's efforts to establish regulated infrastructure for digital assets.

Strategy, with 714,644 BTC worth $49.3 billion, can handle a Bitcoin price drop to $8,000 and cover its $6 billion debt. The company plans to convert debt to equity to manage financial obligations spread over 2027-2032.

Leverage in the crypto market is increasing as Bitcoin remains stagnant, with traders hoping for a breakout rally. Retail activity and speculation are on the rise, indicated by widening futures basis and rising funding rates on major exchanges.