CFA Report Pegs US Crypto Fraud Losses at $80.7B

SEC chair Paul Atkins clarified the criteria for overseeing the crypto industry, stating that certain tokens like network tokens and digital collectibles should not be considered securities. Atkins emphasized that tokens should only be deemed securities if profits rely on third-party managerial efforts.

Visa is testing a new system where companies can send payments in fiat USD to stablecoin wallets, like USDC. Recipients must have stablecoin wallets and pass AML/KYC checks. The pilot is limited to U.S.-based platforms and businesses, with wider access expected in the second half of 2026.

Circle, the issuer of USDC, is considering launching a new token for its Arc Network, a layer 1 blockchain optimized for stablecoins. With $740 million in revenue last quarter, Circle aims to align interests of Arc stakeholders and boost blockchain adoption.

In October, corporate Bitcoin accumulation slowed down, with companies adding the smallest amount of BTC this year. Despite the decrease in purchases, total holdings across companies, governments, and ETFs reached a record high of 4.05 million BTC, valued at approximately $444 billion.

Franklin Templeton has extended its Benji Technology Platform to the Canton Network, enabling the offering of tokenized funds to financial institutions. Benji, initially deployed on public chains, now operates on Canton's private blockchain for enhanced privacy and regulatory alignment.

Circle exceeded analyst expectations in Q3, reporting $740 million in revenue and reserve income, a 66% year-on-year increase. The company is exploring the possibility of launching a native Arc token after the successful Arc public testnet launch in October with participation from major companies like BlackRock and Visa.

The Zcash Foundation has recently appointed two new leaders, with Pili Guerra becoming head of engineering and Danika Delano taking on the role of chief operating officer. These changes reflect the foundation's commitment to promoting talent from within and supporting its success.

Cypherpunk Technologies Inc., formerly Leap Therapeutics, is venturing into digital assets by accumulating ZEC, the native token of Zcash, following a $58.88 million private placement led by Winklevoss Capital. The company has already purchased over 200,000 ZEC and will trade under the new ticker symbol CYPH.

JPMorgan Chase has introduced its deposit token on Coinbase's Base network, allowing instant transactions for institutional clients on the Ethereum layer-2 network. This move marks a significant expansion of JPMorgan's blockchain operations, transitioning from private to public blockchain deployment.

Large Ethereum investors are taking advantage of the market downturn to accumulate substantial holdings, with significant purchases being made by institutional-scale players. These investors are viewing current price levels as a strategic buying opportunity, positioning for medium-term upside despite near-term volatility.