CFA Report Pegs US Crypto Fraud Losses at $80.7B

Bitcoin has not met the fanbase's expectations of reaching $250,000 or $1 million, remaining between $100,000 and $120,000. The market is influenced by various groups like novices, established holders, traders, and Bitcoin maxis, with a new group emerging - the drainers.

Securitize has integrated Ripple's RLUSD stablecoin into its platform, allowing users to exchange shares in tokenized money market funds for the dollar-pegged asset. The smart contract feature functions 24/7, providing instant liquidity and serving as an off-ramp for products offered by asset managers BlackRock and VanEck.

Despite the overall downturn in the crypto market, altcoins like Mantle and Avalanche have seen double-digit gains, with Mantle climbing 12.1% and Avalanche jumping 10.7%. Other gainers include Aster, NEAR, CRO, and Stellar, while Bitcoin and Ethereum remain flat after a volatile week.

Bitcoin and Ethereum ETFs experienced significant outflows totaling $439 million on Monday, following last week's inflows, as investors adjusted to the Federal Reserve's rate cut and awaited inflation data. Analysts suggest that these redemptions were driven by short-term positioning and profit-taking, rather than indicating a structural bear market.

Binance co-founder Changpeng 'CZ' Zhao plans to open his $10 billion investment firm to external investors. YZi Labs chief Ella Zhang told the Financial Times that the firm would "eventually consider turning it into an external-facing fund, adding that the fund would open up to external investors once it's formed teams for AI and biotech.

A $15 million criminal enterprise targeting over 870 South Koreans was busted by Thai authorities, involving romance scams, crypto fraud, and fake lottery offers. The group utilized various tactics, including exploiting unlicensed OTC broker networks in Thailand for crypto conversions and employing chain-hopping techniques to obscure transaction trails.

Keyron Moore, 39, sentenced to 13 years in prison for abduction, torture, and sexual assault in connection with a $1 million Bitcoin demand. A youth co-accused, S.M., awaits sentencing in Oshawa on October 3, with a non-publication order protecting the victim's identity.

Bitcoin experienced significant losses over the weekend, leading to a major liquidation event. Options traders are now showing a bearish bias in anticipation of further downward movement.

CleanSpark has secured a $100 million credit line from Coinbase Prime, backed by its Bitcoin holdings, to support energy expansion, mining growth, and high-performance computing projects. The company's balance sheet strategy allows for non-dilutive funding options.

Bitcoin and the overall crypto market are experiencing a downturn in September, with BTC nearing another red monthly candle. Ethereum is also struggling, with both coins showing weakening momentum and potential for further downside. Dogecoin is the worst-performing top 10 coin, down 10%.