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The Consumer Federation of America reported that cryptocurrency scams and cybercrimes resulted in estimated losses of $80.7 billion, with investment fraud being the largest category at $8.6 billion. The FBI's complaint center recorded over 1 million complaints, totaling $20.9 billion in losses.
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Florida prosecutors seized $1.5 million in crypto linked to a Chinese national involved in an investment scam. The Cyber Fraud Enforcement Unit traced the funds to the scammer's wallet.
Coindesk
The XRP Ledger released version 3.0.0 of its rippled server software, focusing on amendments, bug fixes, and internal changes to enhance accounting accuracy and protocol extensibility. The update addresses ledger inconsistencies, API behavior, and code restructuring for future upgrades.
Coindesk
The SEC has allowed the tokenization of stocks and securities on approved blockchains for three years, aiming for more efficient trading. The approval came via a no-action letter sent to the Depository Trust & Clearing Corp. Major financial institutions like JPMorgan and BlackRock are exploring blockchain projects, indicating potential institutional investment in this area.
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"47 Ronin" Carl Rinsch has been found guilty of wire fraud, money laundering, and illicit property transactions, having misappropriated $11 million from Netflix to buy cryptocurrencies and luxury items. According to earlier reports, Rinsch made a profit on his Dogecoin investments made with the misapproprated funds. He faces up to 90 years in prison and will be sentenced in April 2026.
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PayPal's PYUSD stablecoin payout option for YouTube creators is now live in the U.S., offering faster settlement times and reduced friction in cross-border transactions. This integration reflects the mainstream adoption of stablecoins as payment infrastructure, potentially unlocking efficiency in on-chain finance for creators.
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Elliptic's Global Crypto Regulation Review 2025 reveals a global shift towards comprehensive regulatory frameworks prioritizing innovation, notably seen in the U.S. with the passage of the GENIUS Act. Major financial institutions in the EU and Hong Kong are planning stablecoin offerings, signaling increased institutional participation.
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Accumulator wallets have been buying up Bitcoin, with 75,000 BTC purchased in early December, despite short-term holders facing 20-30% losses. The market is experiencing significant stress, with unrealized losses totaling around $350 billion.
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Stablecoins are increasingly crucial in blockchain gaming economies, handling payouts, rewards, and transactions. They processed $27.6 trillion in 2024, surpassing Visa and Mastercard combined. Despite barriers like UX fragmentation, they are seen as a foundation for in-game purchases and economies.
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The SEC has granted approval for a three-year pilot program allowing a clearinghouse to test recording certain securities on select blockchains. The program will involve minting and burning blockchain-based tokens representing security entitlements already held in custody, starting in the second half of next year.
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Terraform Labs founder Do Kwon was sentenced to 15 years in prison for committing an "unusually serious" fraud that led to the collapse of UST and Luna. Judge Engelmayer compared Kwon to a cult leader who traded on victims' trust, impacting investors' lives.