CFA Report Pegs US Crypto Fraud Losses at $80.7B

Ethereum transactions reached a record high, with over 2.8 million daily transactions on January 16. The surge was mainly driven by a mass address poisoning attack, a type of crypto scam becoming more prevalent.

Bitcoin's price fluctuated between $90,000 and $91,000, experiencing a 2.5% drop. Strategy, SharpLink Gaming, and MARA Holdings saw their shares decline amidst the market turbulence. Despite the geopolitical uncertainty caused by President Trump's tariff threats, analysts remain cautious about Bitcoin's future performance.

Strategy recently made its largest purchase in over nine months, acquiring 22,300 Bitcoin for $2.1 billion. The company financed the purchase by issuing common stock and selling preferred shares, including STRC, a product marketed as an alternative to savings accounts.

Bitmine Immersion Technologies acquired over 35,000 ETH last week, increasing its total holdings to 4.2 million ETH valued at $12.8 billion. The firm also holds 192 Bitcoin and $979 million in cash, with plans to earn over $1 million daily through staking.

Makina Finance lost 1,299 ETH, valued at $4 million, due to hackers manipulating prices on a USDC liquidity pool. The exploit involved a flash loan of $280 million in USDC, resulting in the theft of over 1,000 ETH.

Coinbase CEO Brian Armstrong arrived in Davos, Switzerland, to advocate for the crypto market structure bill, economic freedom, and tokenization. Armstrong aims to collaborate with traditional finance to ensure a level playing field for stablecoins.

Blockchain-based prediction market Polymarket has been ordered by Portugal's gambling regulator to cease operations in the country within 48 hours due to unauthorized betting on the presidential election. The platform, which allows users to bet on real-world events, is facing restrictions in over 30 countries.

Pump.fun, a Solana-based meme coin launchpad, introduced a $3 million fund for market-driven token launches, aiming to empower projects through user funding and transparency. The platform's investment arm, Pump Fund, will support 12 projects with $250,000 each, valuing them at $10 million.

Bitcoin's price stability around $92,000 indicates a strong underlying bid, with ETF flows offsetting short-term volatility. Despite escalating U.S.-Europe trade tensions causing over $865 million in liquidations, the market quickly recovered, suggesting resilience to macro noise.

Bermuda aims to transition its entire economy onto the blockchain with support from Coinbase and Circle. The initiative involves digital asset infrastructure for government, banks, and consumers to create the world's first fully on-chain national economy.