CFA Report Pegs US Crypto Fraud Losses at $80.7B

Bitdeer Technology Group (NASDAQ: BTDR) reported a net loss of $266.7 million for Q3, a 422% decline from the previous year, causing its stock to close down 20% on Monday. Despite this, the company nearly tripled its revenue to $169.7 million, surpassing Zacks' forecast.

The price of Bitcoin tends to rise when McDonald’s reintroduces the McRib sandwich in the U.S., a trend observed in previous years. This correlation has been noted by McDonald’s Senior Marketing Director Guillaume Huin and has sparked interest within the trading and crypto community.

TeraWulf reported a significant revenue increase of 87% compared to the same period last year, attributing it to Bitcoin's price surge, expanded mining capacity, and high-performance computing lease revenue. The company's CEO highlighted a growing partnership with Fluidstack and Google, emphasizing their focus on future growth.

New guidance from the U.S. Treasury Department and the IRS allows Wall Street-traded crypto products to stake digital assets without tax or regulatory issues, potentially boosting mainstream adoption of proof-of-stake blockchains like Ethereum and Solana. To qualify for the safe harbor, investment trusts must meet specific criteria and rely on custodians and staking providers.

Assets related to the Libra meme coin scandal have been frozen by an Argentine judge due to potential indirect payments to public officials involving Kelsier Ventures CEO Hayden Davis. The freeze includes assets of Davis and two suspected intermediaries, lasting until the case is resolved.

Greenidge's stock surged over 35% after securing a five-year environmental permit renewal in a deal with New York state officials. The company committed to reducing greenhouse gas emissions by 44% by 2030, aligning with the state's climate goals set in 2019.

An online poll revealed that over 80% of respondents do not consider Lightning as real bitcoin (BTC), sparking a debate among supporters and critics. Despite its low transaction fees, Lightning's network health has stagnated over the past few years, with a significant drop in payment channels since 2022.

Rumble, a YouTube competitor, is acquiring Northern Data with Tether's support to enhance its AI capabilities and expand its cloud business. The deal, valued at nearly $800 million, involves exchanging Rumble shares for Northern Data shares.

Block, led by Jack Dorsey, has enabled Bitcoin payments for 4 million merchants globally through its Square Bitcoin feature, allowing for instant settlement via the Lightning Network with no fees until 2027. This initiative aims to make Bitcoin a part of everyday payments and commerce.

Strategy issued $50 million in preferred stock to fund its latest Bitcoin purchase, maintaining common shareholders' stake as its market cap neared a crucial level. The company's premium against its Bitcoin stockpile was at its smallest in 20 months, signaling a shift in its funding strategy.