CFA Report Pegs US Crypto Fraud Losses at $80.7B

"Bitcoin Rodney," also known as Rodney Burton, pleaded guilty to running an unlicensed money transmitting business linked to a $1.8 billion cryptocurrency fraud scheme. He promoted HyperFund, a platform that turned out to be a wire-fraud operation, promising daily returns to investors until their stakes doubled or tripled.

BitGo's shares surged 20% following the announcement of a $50 million share buyback program to boost the struggling stock. The initiative allows repurchasing up to 8% of outstanding shares through various transactions, reflecting the Board's confidence in the business.

Coinbase introduced new products like tokenized equities trading and options trading, aiming to expand beyond crypto. Analyst Mark Palmer predicts a 60% increase in COIN price, praising the company's ambition to become a comprehensive exchange.

Senators Gallego and Lummis have introduced a resolution opposing any clemency for FTX founder Sam Bankman-Fried, convicted of fraud and conspiracy. The resolution emphasizes that Bankman-Fried has not shown remorse for his crimes.

Uniswap's governance token UNI surged to $3.70, its highest in a month, with a market cap of $2.26 billion. Standard Chartered predicts a $100 target for UNI by 2030, citing its potential as market infrastructure in DeFi.

Coinbase is expanding its services to include options trading for crypto and equities, tokenized stock trading, borrowing against staked Solana, and a travel portal for its Coinbase One Card. The company aims to be a comprehensive financial account for users, offering various financial services in one place.

Japan raised its benchmark interest rate to around 1% in a 7-1 vote, citing a risk of inflation exceeding a 2% target due to higher oil prices. Despite the rate hike, the crypto market remained stable, with Bitcoin trading around $66,000.

Robinhood is downsizing by 10% of its workforce to streamline operations due to declining crypto revenue. CEO Vlad Tenev emphasized the need for a leaner organizational structure to meet ambitious goals.

The IMF report highlights the benefits and risks of stablecoin adoption in Nigeria, noting the country's significant inflows of crypto assets and the potential impact on monetary sovereignty and financial integrity. The authors suggest a pragmatic approach to managing risks while allowing for innovation in the sector.

Hyperliquid ETFs have seen significant growth, with HYPE token surging over 73% in the past month and attracting $172 million in net inflows. This divergence from Bitcoin ETFs reflects growing institutional interest in Hyperliquid's fee-generating architecture.