CFA Report Pegs US Crypto Fraud Losses at $80.7B

The Bank of Russia will permit domestic banks to conduct limited cryptocurrency activities under strict regulations, with a proposed cap of 1% of a bank's capital for crypto exposure. This move aligns with the country's evolving stance on digital assets amid calls for a comprehensive crypto bill by 2026.

Zcash (ZEC) surged 48% in a week, hitting over $268, its highest since April 2022. The rally extended to other privacy coins like Veil Token (VEIL) up 248% and Railgun (RAIL) up 225%.

The Bank of England's potential waiver on stablecoin holding limits has received mixed reactions from the UK crypto industry, with calls for recalibration. The central bank's proposed cap, which would restrict individuals and businesses, has faced criticism for being cumbersome and impractical.

Monero has released an upgrade, Fluorine Fermi, to enhance protection against spy nodes in its decentralized peer-to-peer network. The update includes an improved peer selection algorithm to reduce connections to suspicious IP addresses, safeguarding user privacy.

Crypto salaries are decreasing industry-wide, with compensation falling for most roles and regions. The 2024/2025 Crypto Compensation Report by Dragonfly shows a general decline in cash pay and token incentives compared to previous years. The industry is transitioning from rapid growth to a more structured approach as regulatory frameworks mature.

Coinbase and Mastercard are in advanced talks to acquire U.K.-based fintech firm BVNK, specializing in stablecoin infrastructure. BVNK's potential sale could value the company between $1.5 billion and $2.5 billion, surpassing Stripe's previous acquisition of a stablecoin startup.

Arthur Hayes believes that the traditional four-year cycle of Bitcoin is over, as he argues that an increased money supply will benefit the leading cryptocurrency. He points out that historical patterns may not apply this time due to changing economic conditions and global factors.

Haralambos Ioannou, a rural English glass-fitting company owner, received a 22-month prison sentence for misusing Covid-19 loans on gambling and crypto investments. He illegally secured two £50,000 loans from the UK government during the pandemic, using the second loan for personal expenses.

Traders on Myriad predict Bitcoin to hit $140,000 before dropping to $110,000, while XRP is expected to reach $4 before falling to $2. Technical indicators suggest a bullish sentiment for both assets, with Bitcoin showing a slight bullish tilt.

Binance founder Changpeng Zhao faced backlash for launching Meme Rush, a BNB Chain meme coin launchpad, and said that he does not endorse coins when he writes about them on X. Traders expressed disappointment over the negative impact on the speculative niche.