CFA Report Pegs US Crypto Fraud Losses at $80.7B

A group of pro-crypto Senate Democrats outlined conditions for supporting a digital assets market structure bill, emphasizing the need for bipartisan cooperation. They expressed concerns over the political composition of the SEC and CFTC, urging for Democratic voices in regulatory agencies.

Ordinals Scrapyard allows users to calculate losses on Bitcoin NFT inscriptions for tax purposes. The site reflects the decline in inscriptions' value, with most now worth only $0.001, leading to difficulties in reselling them.

SharpLink Gaming initiated its $1.5 billion stock buyback program by purchasing $15 million worth of SBET shares, aiming to increase stockholder value. The firm, holding the second largest publicly traded Ethereum treasury, believes the market undervalues its business.

Coinbase is developing a new ecosystem merging stablecoin micropayments with AI through x402 Bazaar, a discovery layer for AI agents. This innovation aims to enhance agentic commerce by enabling AI agents to shop independently based on human preferences.

The Rex-Osprey DOGE ETF ($DOJE) is expected to launch in U.S. markets this week, making it the first U.S. exchange-traded fund centered around a token like Dogecoin. Market participants anticipate increased volatility as Dogecoin has already seen a 17% increase in trading ahead of the ETF debut.

Arkham Intelligence discovered a cluster of 45,000 Bitcoin linked to Movie2K, untouched from 2013 to 2019. The German government failed to seize this Bitcoin, which was moved to new addresses in 2019.

The U.S. Treasury Department sanctioned 19 targets in Southeast Asia for cyber scams that defrauded Americans of over $10 billion in 2024, with a 66% increase from the previous year. These operations involved forced labor and violence, targeting victims through fake investment platforms.

Plasma has recently expanded its senior team with three new hires, including a former FTX global head of payments. The blockchain project, focused on stablecoins, is gearing up for its mainnet launch after a successful token sale.

Gemini, founded by the Winklevoss twins in 2013, is set for a $316.7 million Nasdaq IPO on September 11. Despite its small market share, Gemini excels in custody services, boasting $18 billion in assets and 10,000 institutional clients.

The combined crypto market has reached $4 trillion this year, with the bitcoin price hitting $124,000. Russia, China, and Iran are exploring financial systems independent of the dollar, using bitcoin to evade Western sanctions.