CFA Report Pegs US Crypto Fraud Losses at $80.7B

The OCC has terminated its cease and desist order against Anchorage Digital, a federally chartered digital asset bank, after the company demonstrated compliance with the Bank Secrecy Act and AML requirements. Anchorage was the first bank to custody digital assets under a national bank charter.

A crypto investor lost 783 Bitcoin, valued at $91 million, to a social engineering scam involving impersonation of customer support representatives from a hardware wallet manufacturer and a cryptocurrency exchange. The stolen funds were transferred to Wasabi Wallet, a Bitcoin "mixer," as they moved across various digital wallets.

Coinbase has listed the USD1 stablecoin from World Liberty Financial, a project associated with President Donald Trump and his sons. The stablecoin is now available for trading alongside USDC and USDT on the exchange.

DBS has announced plans to tokenize structured notes using Ethereum, partnering with digital platforms ADDX, DigiFT, and HydraX for distribution. The notes blend debt securities and derivatives, offering exposure to various assets, with cryptocurrencies as the underlying asset.

Ripple's shares, traded on private markets like Forge, offer limited liquidity to accredited investors. VivoPower seeks to buy Ripple equity to enhance its XRP-buying strategy, acquiring $100 million worth of shares at a $19 billion valuation. The company's XRP treasury strategy remains undisclosed on its website.

Bitcoin and other cryptocurrencies experienced a decline following comments from the president of the Cleveland Federal Reserve, Beth Hammack, indicating a reluctance to cut interest rates. Market participants are closely monitoring the Fed's stance on inflation and employment as they anticipate potential rate adjustments.

XRP whales have been selling off around $470 million in the past 10 days, causing the price to drop over 20% from its record high. Despite this, trading volume remains steady, indicating underlying resilience in the market.

Gemini has obtained a Markets in Crypto Assets (MiCA) license from the Malta Financial Services Authority, allowing expansion across the EU under the new regulatory framework. This approval enables Gemini to offer trading products and services in over 30 European jurisdictions.

XRP Ledger received the lowest security score of 41 out of 100 in a recent Kaiko Blockchain Ecosystem Ranking, sparking debate over its decentralization and trustworthiness. Despite concerns, RippleX Engineering Head defends the network's 13-year security track record and resilience against attacks.

The YZY token, created by Kanye West on Solana, quickly reached a $3 billion market cap before dropping to $1 billion. Myriad's prediction market shows 87% of predictors doubting the token's rise above $1.5 billion by August's end.