CFA Report Pegs US Crypto Fraud Losses at $80.7B

Hyperliquid's HYPE token is experiencing a downtrend for the fourth consecutive day, while new decentralized exchange tokens have more than doubled over the weekend. The attention shift towards tokens like Aster and Avantis has caused significant surges in their value.

The United Arab Emirates has committed to automatic crypto tax reporting with global authorities, launching an industry consultation to finalize implementation details before the 2027 rollout. The nation signed the Multilateral Competent Authority Agreement on the Automatic Exchange of Information under the Crypto-Asset Reporting Framework, ensuring tax transparency.

Metaplanet acquired 5,419 BTC worth $632.53 million, increasing its total holdings to 25,555 BTC valued at $2.91 billion. The purchase was funded through a $1.45 billion share offering, positioning the company towards its BTC holding targets.

BNB's recent surge to a new all-time high of $1,079 is attributed to factors like institutional demand and positive regulatory outlook. Partnerships with firms like Franklin Templeton and increased interest from Digital Asset Treasuries companies have also contributed to its rise.

Kaia, a public blockchain formed from the merger of Kakao's Klaytn and LINE's Finschia networks, will introduce a stablecoin-powered super-app within LINE Messenger. Project Unify aims to offer various services like payments, remittances, and access to decentralized applications to cater to diverse users.

Social media platform X is combating a bribery network involving banned users attempting to regain access by bribing employees. The platform, previously Twitter, is cooperating with law enforcement to address the issue linked to wider criminal organizations.

Rekt Brands achieved a significant milestone by selling its 1 millionth can of Rekt Drinks sparkling water, with the latest sell-out being the "Moon Crush" flavor in collaboration with MoonPay. The company has strategically collaborated with various Web3 brands to maintain its premium image in the crypto community.

Gary Gensler, the former SEC chair from 2021 to 2025, implemented a regulation-by-enforcement approach towards the crypto industry. His actions included lawsuits against major exchanges and classifying cryptocurrencies as securities, aiming to subject them to existing securities laws.

Coinbase's lending product, offering up to 10.8% returns on USDC deposits, is currently benefiting from a temporary boost provided by DeFi lender Morpho. The collaboration has increased the product's returns by 6% from Morpho's platform and an additional 5% from the protocol itself.

Bitcoin's mining difficulty has reached a new high of 142.3 trillion, up 29.6% since the year began. The recalibration every 2,016 blocks ensures a 10-minute block time, adapting to changes in hash power.