CFA Report Pegs US Crypto Fraud Losses at $80.7B

South Korean regulators propose capping individual ownership in domestic crypto exchanges at 15% to 20% to prevent conflicts of interest. The government and industry oppose the plan, leading to a potential impasse as crypto adoption grows in the country.

Bitcoin hit a two-month low, trading at $84,400, with a 5% drop. Altcoins like Ethereum and Solana saw steeper declines, falling 6.4% and 6.8% respectively. Crypto liquidations surged, with over $800 million in leveraged positions closed.

Copper is considering a public listing, with Goldman Sachs, Citi, and Deutsche Bank potentially involved. The decision will depend on the company's revenue performance, as it explores financing options.

Bybit plans to introduce retail bank accounts for users upon completion of Know Your Customer checks. The new service, "My Bank," will provide users with an international bank account number (IBAN) for seamless fund transfers and asset trading.

Benchmark analyst Mark Palmer believes that while quantum computing could potentially threaten Bitcoin's security in the future, the risk is currently distant and manageable. Quantum computers are not yet capable of breaking the cryptographic systems protecting Bitcoin, and the industry is taking preemptive steps to address this long-term threat.

Dubai Insurance, in partnership with Zodia Custody, has launched a cryptocurrency wallet for handling claims, premiums, and digital asset transactions. This move aligns with the UAE's push for digital asset integration in financial services and traditional firms exploring blockchain-based payments.

China has executed 11 members of the Ming mafia family for running a $1.4 billion pig butchering scam and illegal casinos in Southeast Asia. The family operated from Laukkia township in Myanmar, overseeing a compound where victims were trafficked for online scams.

Robinhood is investing in Talos, a crypto trading technology firm, in an extended Series B funding round, valuing the company at around $1.5 billion. Talos, providing institutional infrastructure for digital assets, attracted new strategic investors like Robinhood, Sony Innovation Fund, and others.

Solana ETFs have attracted $6.7 million in new investments, totaling $689.8 million in assets under management. Despite a 3.6% drop in Solana's price, ETF investors remain less reactive to short-term volatility compared to Bitcoin and Ethereum counterparts.

Over 750 Bitcoin, valued at more than $65 million, have been raised by Swiss digital asset bank Sygnum Bank and Starboard Digital for their BTC investment vehicle. The BTC Alpha Fund aims to generate yield on Bitcoin holdings independently of price fluctuations, delivering an 8.9% annualized net return in its first full quarter.