CFA Report Pegs US Crypto Fraud Losses at $80.7B

A coalition of tech lobbying groups and crypto companies sent a letter to the Senate Banking Committee, demanding legal protections for software developers in upcoming crypto market structure legislation. The letter, signed by 114 parties, aims to prevent criminal liability for developers in the industry.

KuCoin has been selected as the first international crypto exchange to support Thailand's G-Token initiative, a tokenized government bond program worth 5 billion baht. The exchange, along with local partners, will handle subscriptions, redemptions, and potential listings on both domestic and global platforms pending regulatory approval.

Kindly MD, a Nasdaq-listed healthcare firm, filed a $5 billion stock distribution statement with the SEC after a $679 million Bitcoin purchase. The filing designates Kindly MD as a Well-Known Seasoned Issuer, allowing more flexibility in capital markets.

Glassnode warns of declining on-chain activity and institutional outflows, indicating a potential cooling-off phase for Bitcoin. The current price of $111,300 is still down over 10% from the recent high of $124,128.

European officials are considering deploying the digital euro on public blockchains like Ethereum or Solana to expand its reach and visibility in the wider crypto economy. The debate has intensified due to the U.S.'s stablecoin law, pushing Europe to move faster in digital payments innovation.

U.S. Commerce Secretary Howard Lutnick announced plans to issue economic data "on the blockchain" to enhance data distribution. The initiative aims to provide transparency and public visibility, although specifics such as the blockchain network to be used remain unclear.

Ethereum is predicted to have a temporary bottom near $4,000 before climbing beyond $5,000, with analysts divided on its immediate future. While some believe it could reach $5,450, others foresee further declines due to market conditions and Bitcoin's influence.

Kanye West's official Solana meme coin, YZY, has plummeted 81% from its peak within a week of launch due to an Instagram hack promoting a fake token with a $7 million market cap. The real YZY token on Solana has only risen by nearly 1% today.

MetaMask has introduced a new "social login" feature allowing users to create, back up, and restore wallets using Google or Apple accounts. This update aims to simplify the wallet setup process and eliminate the need for a 12-word recovery phrase.

Solana is gaining traction as the next major TreasuryCo trade, with at least four corporate treasury initiatives tied to SOL unveiled in the past 24 hours, totaling around $2.75 billion. This marks the first wave of true corporate treasury adoption for Solana, attracting billions in capital.