CFA Report Pegs US Crypto Fraud Losses at $80.7B

The Crown Prosecution Service obtained a Confiscation Order of over £5 million against Seng Hok Ling for his involvement in a money laundering scheme with convicted fraudster Zhimin Qian. Ling faces an additional eight-year prison sentence if he fails to pay within three months.

Grayscale has filed with the SEC to launch the Grayscale BNB Trust, an ETF tracking the BNB token. The proposal hinges on Nasdaq submitting a 19b-4 form and receiving SEC approval. BNB, associated with Binance, powers the BNB Chain and offers various utility functions.

French crypto accounting platform Waltio was targeted by hackers who extorted the company for sensitive data, prompting an investigation by French authorities. The cybercriminals reportedly stole customer emails and tax reports, but Waltio assured that passwords were not compromised.

Over four trading days, U.S. spot Bitcoin exchange-traded funds experienced net outflows of $1.62 billion, one of the largest since their inception in 2024. The streak of redemptions began last Friday and continued amid market withdrawals.

Delegates of Optimism DAO are currently voting on a proposal to use 50% of revenue to buy back OP tokens monthly. The proposal has sparked debate among delegates, with some questioning its impact on the token's price and overall sustainability.

The collaboration between Solana meme coin brand Ponke and streetwear label RIPNDIP introduces a blind-box collectible starting on store shelves before integrating blockchain technology for ownership verification and digital claims. This Web2 product with a Web3 backend aims to make crypto invisible to consumers.

Merkle Manufactory, the company behind Farcaster, will repay venture investors the full $180 million raised as the project transitions to new ownership under Neynar. The protocol will continue to operate as Neynar plans to shift Farcaster towards a more developer-focused direction.

PwC's report states that institutional adoption of crypto has reached a point of no return, with large financial players integrating digital assets into long-term strategies and systems. This structural shift includes sustained engagement in custody, trading, settlement, and tokenization, making a full retreat impractical even in volatile markets.

Binance has applied for a MiCA license in Greece, establishing a holding company in the EU member state. The HCMC is fast-tracking the licensing process, with no MiCA licenses awarded in Greece yet.

Bitcoin's failure to surpass $90,000 has heightened bearish sentiment among investors, with a growing segment of Myriad users predicting a crash to $69,000 rather than a rise to $100K. The market volatility, triggered by geopolitical uncertainty and Trump's announcements, led to a $2 billion liquidation of positions.