CFA Report Pegs US Crypto Fraud Losses at $80.7B

Myriad, a prediction market protocol, has achieved over $10 million in USDC trading volume and attracted more than half a million users. The platform aims to transform speculation into a tradable asset class, expanding prediction markets beyond crypto into a new DeFi segment.

BRC-20 has launched "BRC2.0" at Bitcoin block height 912690, embedding EVM functionality into its core indexer. This upgrade allows Ethereum-style smart contracts on Bitcoin, enhancing programmability for Bitcoin-native tokens.

Bitcoin's price rose to $109,000 after dipping to $107,500, while Ethereum saw a 1.5% drop to $4,406 with $4.37 billion in institutional inflows in August. Despite Ethereum's dominance, Bitcoin had lower inflows and a 2% weekly drop.

Two former Cred executives received prison sentences totaling nearly eight years for wire fraud conspiracy charges related to mismanagement of customer assets, leading to significant investor losses. The sentences set new standards for executive accountability in crypto fraud cases, reflecting the severity of betraying customer trust.

Binance has appointed SB Seker as Head of Asia-Pacific to enhance compliance amid regulatory challenges. Seker's extensive experience includes roles in litigation and central banking, making him well-suited to strengthen regulatory frameworks. The move is seen as strategic in addressing compliance issues in Australia and signaling commitment to meeting standards in APAC.

Bitcoin closed the month with a loss, as experts analyze key macroeconomic data that could influence the Federal Reserve's rate cut decision. The focus is on jobless claims, U.S. productivity, and the August jobs report, with pressure mounting on Chair Jerome Powell.

World Liberty Financial's WLFI token is set to debut on Memorial Day, with a limited tradable supply and concerns about insider holdings. Analysts warn of potential risks for retail investors due to thin trading and concentration of ownership.

The phenomenon of "Red September" in the crypto market is driven by historical patterns, tax-loss harvesting, and portfolio rebalancing. Market behaviors converge each fall, triggering sell-offs and increased volatility. Despite the negative sentiment, some believe Bitcoin's fundamentals are stronger than ever.

Tron's community voted to reduce network fees by 60%, a move that will benefit users and potentially increase profitability in the long run. The blockchain, known for its popularity with stablecoin users, saw transaction costs rise recently before the fee cut took effect.

There are 92 applications for cryptocurrency exchange-traded funds awaiting approval by the U.S. Securities and Exchange Commission, including popular altcoins like XRP and Solana. The SEC faces a final deadline for at least a dozen applications in October, with experts expecting approvals.