CFA Report Pegs US Crypto Fraud Losses at $80.7B

Visa Inc. is enabling U.S. banks to settle transactions using Circle's USDC stablecoin over the Solana blockchain, in response to the relaxed regulatory environment. Cross River Bank and Lead Bank are among the first institutions to utilize this service, with Visa also set to support Circle's Arc blockchain upon its launch.

Nexo has become the Official Crypto Partner of the Australian Open and the Summer of Tennis, securing a multi-year agreement with Tennis Australia. The deal includes branding visibility on on-court coaching areas during matches at major tournament venues.

Bitcoin's recent drop to $85,800 is attributed to both new large investors and long-term holders selling off, resulting in unrealized losses for entities holding over 1,000 BTC. The profit/loss margin for recent buyers has hit -25%, potentially signaling a reversal in the bull run.

PayPal has applied to establish a Utah-chartered industrial bank to have more control over lending, deposits, and payments infrastructure for small businesses in the U.S. If approved, this move could help PayPal support its expanding crypto and stablecoin operations within a regulated banking framework.

Grayscale's 2026 Digital Asset Outlook dismissed quantum computing as a near-term risk to the crypto market, stating that while it poses a long-term challenge, it is not expected to impact valuations in the coming year. The report highlighted concerns about quantum computers breaking public-key cryptography used to secure Bitcoin.

President Trump expressed openness to exploring a pardon for convicted Samourai Wallet developer Keonne Rodriguez, familiar with the case. Rodriguez, sentenced to five years in federal prison, created a tool for private Bitcoin transactions. Despite concerns from privacy advocates, the DOJ continued pursuing the case under the Trump administration.

Over the past year, the Trump administration has significantly influenced the crypto industry by removing barriers, enshrining legitimacy in federal law, and benefiting financially from crypto projects. However, some argue that these actions have undermined Bitcoin's original purpose of safeguarding civil liberties.

Bitcoin, Ethereum, and XRP prices plummeted, hitting their lowest in a week due to liquidations. The crypto market lost over 3% in value, with $573 million in liquidations.

Exor, the majority owner of Italian soccer club Juventus, rejected an all-cash offer from stablecoin giant Tether, causing shares to rise by more than 17%. Despite the rejection, Exor's true market capitalization is now around €924 million ($1.08 billion).

Ripple announced plans to expand its RLUSD stablecoin to layer-2 networks on Ethereum next year, including Optimism, Coinbase’s Base, Kraken’s Ink, and Uniswap’s Unichain. The integration will involve the Wormhole interoperability protocol, aiming to set a standard for compliance and efficiency in stablecoin usage.