CFA Report Pegs US Crypto Fraud Losses at $80.7B

The creator of ZKsync proposed transforming the ZK token from a governance instrument to one with real economic utility, introducing revenue streams from onchain interoperability fees and offchain licensing revenue. Olas unveiled Pearl v1, a decentralized AI agent app store, offering users full control and transparency over autonomous AI agents.

Galaxy has revised its Bitcoin end-of-year target from $185,000 to $120,000 due to market dynamics shifting against Bitcoin's favor. The note cites factors like liquidations, competition from other assets, and lack of interest from retail buyers as reasons for the adjustment.

Dinari is collaborating with Chainlink to launch the S&P Digital Markets 50 Index on-chain, featuring 35 U.S. listed firms connected to blockchain and 15 major digital assets. The index will be tokenized using Dinari's dShares platform, with real-time pricing provided by Chainlink's network.

Nine individuals have been arrested in Cyprus, Spain, and Germany for their involvement in a crypto money laundering network that defrauded victims of €600 million. The network operated fraudulent crypto investment websites and platforms, promising high returns to victims before laundering the funds through various blockchain platforms.

Ripple, Mastercard, WebBank, and Gemini plan to introduce RLUSD stablecoin for credit card settlements on the XRP Ledger pending regulatory approvals. The initiative aims to enhance settlement processes by utilizing RLUSD for faster and more flexible fund transfers between trusted partners.

The Independent Community Bankers of America criticized Coinbase's banking charter application for lacking safety standards in risk management and governance. The ICBA argued that the application fails to meet statutory chartering standards and poses safety and soundness risks.

Standard Chartered's Head of Digital Assets Research advised BTC traders to buy the dip in stages, starting with 25% of their max limit. Traders should then buy an additional 25% if Friday's close is above $103,000, and the remaining 50% if the Bitcoin-gold ratio goes back above 30.

YouTube announced an expansion of its ban on online gambling content to include items with monetary value like video game skins, cosmetics, and NFTs, effective November 17. Despite concerns, YouTube clarified that discussions on NFTs and in-game items will not be affected.

Arthur Hayes predicts Bitcoin will reach $1 million by 2028 due to fiat currency debasement fueling the rally. He believes governments will continue to issue debt rather than raise taxes, leading to increased inflation and making Bitcoin a hedge for investors.

Sixteen people, including influencer Joseph Lam Chok, face charges in the $205 million JPEX crypto fraud case in Hong Kong. The suspects are accused of fraud, conspiracy, and money laundering after a two-year investigation into the unlicensed exchange.