CFA Report Pegs US Crypto Fraud Losses at $80.7B

A convicted Russian crypto scammer, Roman Novak, and his wife were found dead in the UAE after meeting with fake investors. Novak, previously sentenced for fraud, promoted a payment platform to defraud investors of $500 million before being murdered.

According to Bernstein, the U.S. has advanced as a potential global crypto hub with the introduction of regulatory frameworks like the GENIUS Act and the upcoming CLARITY Act. These initiatives aim to establish a structured market for digital assets, with SEC Chair Atkins leading Project Crypto to merge securities markets with blockchain technology.

Bitcoin traders are anticipating the upcoming U.S. October Consumer Price Index report, which is expected to influence market sentiment and potential rate cuts. Despite recent optimism following a market crash, uncertainty remains regarding the impact of the inflation data on short-term market positioning.

Canary Capital's regulatory filing for an XRP-focused exchange-traded fund on Nasdaq could provide a new investment option for investors. The potential launch of the Canary XRP ETF follows the success of the Rex-Osprey XRP ETF, which attracted significant assets in a short time.

John Deaton, a pro-XRP attorney, announced his U.S. Senate bid against Sen. Ed Markey in the upcoming midterm election. Despite his previous loss to Elizabeth Warren, Deaton aims to secure the Republican ballot line with potential endorsement from the party's state leadership.

A Bitcoin user paid over $105,197 to send just $10 of the digital coin, a significantly higher fee than usual. Transaction fees are typically a fraction of the amount sent, but can vary during blockchain traffic spikes.

Coinbase has halted talks to buy BVNK, a stablecoin startup, in a deal estimated at $2 billion. The American exchange and Mastercard were in advanced discussions to acquire the UK-based fintech firm.

MegaETH revoked IcoBeast's $1 million token allocation after the influencer hinted at selling. The network selected token recipients based on community activity and long-term commitment, enforcing a one-year lock-up rule to prevent immediate selling.

SoFi has reintroduced SoFi Crypto, allowing users to trade various cryptocurrencies alongside banking services, marking its return to the crypto market since 2023. The platform offers trading for up to 30 crypto assets and enables users to buy crypto with funds from their SoFi accounts.

CleanSpark announced plans to offer $1.15 billion in convertible senior notes, with another potential $150 million in shares to be offered. The company will allocate funds for stock repurchase, expanding power and land portfolio, developing data center infrastructure, and repaying credit lines.