CFA Report Pegs US Crypto Fraud Losses at $80.7B

The OCC, FDIC, and Federal Reserve are establishing regulations for stablecoins and tokenized deposits in the U.S., with recent approvals and proposals marking the beginning of a multi-year transition towards onchain assets and payments. Bank of America's analysts view the OCC's approval of national trust bank charters for digital-asset firms as a significant step towards federal acceptance of stablecoins and crypto custody.

Anchorage Digital has acquired Securitize For Advisors (SFA) from Securitize, solidifying their partnership and enhancing wealth management services for registered investment advisors. The acquisition allows Anchorage to offer a unified platform for trading, custody, and client tools, while enabling Securitize to focus on tokenization business.

Ondo Finance will launch its tokenized stock and ETF trading platform on the Solana blockchain next year, expanding access for investors. With $365 million in tokenized assets, Ondo is the largest operator in the industry, following its recent expansion to the BNB Chain.

BitMine Immersion Technologies recently added 102,259 ETH valued at $320 million, increasing its total ETH holdings to 3,967,210 ETH worth over $12.4 billion. The firm also holds 193 BTC and $1 billion in cash, continuing its aggressive acquisition strategy.

JPMorgan Chase is launching an Ethereum-based money-market fund called My OnChain Net Yield Fund (MONY) for qualified investors. The fund, requiring a minimum investment of $1 million, allows investors to earn yield by holding the associated token on-chain.

Do Kwon, co-founder of Terraform Labs, may face additional criminal charges in South Korea, potentially adding over 30 years to his sentence after a 15-year prison term in the U.S. for his involvement in the $40 billion TerraUSD and LUNA collapse.

Strategy has purchased nearly $1 billion worth of Bitcoin for two consecutive weeks, adding 10,645 BTC each week. The company now holds 671,268 BTC acquired for about $50.33 billion, with an average price of $74,972 per Bitcoin.

The SEC issued a no-action letter allowing firms to launch tokenized stock products without immediate enforcement risk. The OCC granted national bank charters to Circle, Ripple, and other crypto-native firms, integrating them into the U.S. banking framework.

UK officials are proposing legislation to subject crypto companies to the Financial Conduct Authority's oversight, ensuring compliance with transparency, consumer protection, and market conduct standards. The move aims to address fraud risks and integrate crypto activity with mainstream finance, with regulations expected by October 2027.

Bitcoin's recent rally saw a decline in open interest and a stabilization in cumulative volume delta, indicating short covering as the primary driver. Despite an uptick in speculation, new buyers have yet to emerge, with Bitcoin currently trading at around $89,860. Concerns remain about excessive leverage and the potential for a short squeeze.