CFA Report Pegs US Crypto Fraud Losses at $80.7B

Binance Australia has resumed direct dollar deposits and withdrawals for local users, including PayID and bank-transfer access, after over two years of banking service disruptions. The exchange has reintroduced real-time payments, aiming to enhance user activity and market share in the country.

Bitcoin accumulation by mid- to large-sized holders has surged, with the Fish-to-Shark cohort acquiring 110,000 BTC in the past month, the largest increase since 2018. The Shrimp cohort, representing retail investors, has also added over 13,000 BTC recently, indicating broad-based demand in the market.

Fidelity Digital Assets predicts that digital assets are transitioning into a fundamental financial layer, akin to the shipping container revolutionizing global trade. The industry has been quietly retooling infrastructure and regulatory frameworks, setting the stage for a breakout year in 2026.

Victims of a $5.4 million South Korean crypto scam express dissatisfaction as fraudsters receive lenient sentences, with some escaping jail time if they do not reoffend. The court handed out shorter jail terms, some suspended, and probation orders to 28 other members of the scam network.

CEO Brian Armstrong refutes claims of White House anger towards Coinbase, emphasizing ongoing discussions and collaboration. The industry remains divided on the issue of stablecoins paying yields, with differing opinions on regulatory control.

Canaan, a Bitcoin mining hardware maker, must raise its share price above $1 for 10 consecutive days by July to avoid delisting from Nasdaq. The company could opt for a reverse stock split to boost its share price.

South Korea is implementing stricter regulations on crypto platforms through app stores, requiring registration as virtual asset service providers to remain listed. The legislation establishes a legal framework for security token offerings, with laws set to take effect in January 2027.

Riot Platforms (RIOT) has purchased land in Texas for $96 million, funded by selling 1,080 bitcoins. The company also signed a Data Center Lease and Services Agreement with AMD, expecting $311 million in revenue. With over 1,100 acres and 1.7 GW of power capacity, RIOT solidifies its position in the Texas Triangle.

Cathie Wood's analysis compares Bitcoin's capped supply favorably to gold's increasing demand, suggesting Bitcoin's price could benefit more from rising demand due to its inelastic supply schedule.

The CRYPTO Act proposed by Manhattan District Attorney Alvin Bragg and New York State Senator Zellnor Myrie aims to criminalize unlicensed crypto operations, addressing the growing underground economy fueled by cryptocurrency. Violations could lead to penalties ranging from a Class A misdemeanor to a Class C felony.