CFA Report Pegs US Crypto Fraud Losses at $80.7B

Trump (TRUMP) and World Liberty Financial (WLFI) have experienced significant losses, with TRUMP dropping 14.6% and WLFI falling 10.8% in the past 24 hours. These declines are part of a broader market trend, with total crypto capitalization decreasing by 2.8%.

Gloria Zhao, a prominent Bitcoin Core maintainer, has resigned amid an ongoing debate over OP_RETURN. Her departure has sparked mixed reactions within the Bitcoin community, with some attributing it to alleged harassment.

Polymarket's parent company, Blockratize Inc., has filed trademark applications for "POLY" and "$POLY" with the U.S. Patent and Trademark Office, outlining plans for a native token. The applications detail services related to cryptocurrency, financial trading platforms, and blockchain-based payment systems, marking a significant step towards launching the anticipated token.

Strategy, the largest corporate holder of Bitcoin, plans to implement a bitcoin security program to collaborate with the global cyber, crypto, and Bitcoin security community. Despite reporting a net loss of $12.4 billion for the quarter, the company aims to address quantum risk as a future engineering challenge.

Industry leaders criticized the Democratic Party for a tweet mocking crypto market losses, causing backlash and accusations of insensitivity. The tweet featured a chart showing Bitcoin's decline alongside an image of President Trump, triggering widespread condemnation.

The crypto market is experiencing heightened investor fear due to a significant selloff, with Bitcoin hitting a 15-month low of $60,255. The Crypto Fear and Greed Index dropped to 9, indicating "Extreme Fear" and the lowest level since Terra Luna's collapse in 2022.

Over the past 10 hours, MARA transferred 1,318 BTC worth $86.89 million to various counterparties and custody venues. The largest portion went to Two Prime, with additional transfers to BitGo and a fresh address. These transactions are closely watched due to market volatility and concerns about miners becoming forced sellers.

Senator Cynthia Lummis advocates for traditional banks to embrace stablecoins as a business opportunity, despite industry opposition stalling the market structure bill. Banks fear stablecoin rewards could lead to deposit flight, impacting local lending at community banks.

According to Artemis data, prominent digital asset treasuries like Strategy and BitMine Immersion Technologies are facing significant losses on their crypto investments due to the recent slide in top crypto assets. The losses have surpassed $25 billion, with firms like Forward Industries and others also experiencing unrealized losses.

JPMorgan analysts believe that Bitcoin's recent underperformance compared to gold may indicate a fading appeal as a hedge against market turmoil. The widening gap between the two assets has led to negative sentiment among institutional and retail investors, affecting not only digital assets but also stablecoin supply.