CFA Report Pegs US Crypto Fraud Losses at $80.7B

Franklin Templeton has introduced a blockchain-based money-market fund in Hong Kong for professional investors, with plans for a retail version. The fund, represented as tokens, invests in short-term U.S. government securities, offering faster transactions and lower costs.

Circle has updated its policy to allow customers to use USDC for legal firearms purchases, following criticism from gun rights advocates. The change came after a report questioned the ban on transactions involving weapons, highlighting concerns about political bias and Second Amendment rights.

Bitcoin's recent bounce from a low of $99,600 to $103,400 has sparked questions about a sustainable recovery. Analysts suggest on-chain accumulation and stable funding rates are needed for a lasting rebound, as historical data shows supply losses often precede price reversals.

The Eleventh Circuit upheld a lower court's decision denying Michael Prime's motion to recover $354 million worth of Bitcoin lost due to a destroyed hard drive. Prime's delay in claiming ownership left the government unable to return the hard drive.

Over the past week, investors have withdrawn $2.6 billion from U.S. Bitcoin and Ethereum exchange-traded funds, contributing to downward pressure on the market. Despite outflows, Bitcoin and Ethereum prices have fluctuated, with Bitcoin dropping below $100,000 for the first time since May.

Robinhood Markets reported a significant increase in revenue, surpassing analysts' expectations with $1.2 billion for the third quarter. The company also exceeded forecasts with earnings per share of $0.61 and $556 million in profits, driven by product innovation and business expansion.

The Blockchain Futurist Conference in South Florida attracted attendees eager to discuss industry trends, with Bitcoin's recent price drop not a top concern. Participants networked, soaked up the sun, and explored topics like real-time inflation data and prediction markets. Some attendees focused on networking and promoting their businesses, while others enjoyed side events and colorful outfits.

Bitcoin investors experienced a tumultuous 48 hours with a brief dip below $100,000, leading to over $2 billion in liquidations. Despite a 3.5% market capitalization gain, technical indicators suggest caution is needed for a sustainable rally.

Monad, a Layer-1 blockchain, will launch its mainnet and MON token on November 24, with an airdrop for early users. The network has raised over $240 million, aiming to offer high speeds, low fees, and Ethereum compatibility.

Metaplanet, a Japanese Bitcoin treasury, secured a $100 million loan using its crypto as collateral and is adjusting its borrowing and BTC accumulation strategy to address Bitcoin's price volatility. The company aims to acquire 210,000 Bitcoin by 2027.