CFA Report Pegs US Crypto Fraud Losses at $80.7B

JPMorgan reduced MARA Holdings' price target due to Bitcoin's price drop affecting the company's BTC holdings, while Compass Point upgraded the rating, emphasizing the firm's strong fundamentals. MARA shares have fallen by 43% in the past month.

Grayscale introduced exchange-traded funds for Dogecoin and XRP, now trading on NYSE Arca as GDOG and GXRP. The funds offer exposure to these assets with a 0% expense ratio for the first 3 months or until $1 billion is traded.

The crypto market experienced a weekend bounce after a brutal Friday selloff, with Bitcoin dropping below $81k and over $1.7B in liquidations. Despite the market cap falling by $1.3T in 7 weeks, there are signs of optimism with ETFs turning green and alts finding buyers.

Myriad, a prediction market protocol, has reached $100 million in cumulative trading volume, with a 10x surge in trading volume in three months. The platform boasts over 400,000 active traders who have executed 6.3 million trades and 7.3 million transactions since its inception.

XRP's price is down 40% from its July all-time high, but it has seen increased demand for ETFs this month. Grayscale's new GXRP ETF launch on Monday is expected to trigger a 22% price surge, according to research analyst Lacie Zhang.

Dunamu and Naver Financial are planning a merger to create a financial giant worth $13.8 billion, with a potential Nasdaq listing. The merger aims to combine a crypto exchange with a payments platform amid new digital asset regulations in South Korea.

A Solana developer has proposed doubling the rate at which staking rewards decline to reduce token inflation. This proposal aims to prevent almost $3 billion worth of new SOL tokens from being created, addressing concerns about high token inflation and sell pressure.

Solana's market structure has become top-heavy, with nearly 80% of its circulating supply in loss, potentially leading to panic selling. A major liquidation zone could trigger further price drops, with $239 million worth of longs at risk if Solana falls below $124.40.

The ECB released a report warning about stablecoins posing a global financial stability risk by potentially drawing retail deposits away from eurozone banks. Stablecoins' market capitalization has grown to over $280 billion, with Tether and Circle Internet being major holders of U.S. Treasury bills.

Despite the formal ban on Bitcoin mining in China in 2021, the activity has experienced a significant revival, with the country climbing back to the third position globally by October. This resurgence is driven by miners and companies operating in regions with abundant and inexpensive electricity, such as Xinjiang and Sichuan.