CFA Report Pegs US Crypto Fraud Losses at $80.7B

BitMine Immersion Technologies recently acquired over $237 million worth of Ethereum, bringing their total holdings to $11.4 billion. With more than 5.39 million ETH, the firm is close to reaching its goal of owning 5% of the circulating supply.

Polymarket was blocked in Indonesia due to its gambling nature, with the government tracing affiliated social media accounts for access restrictions. This regulatory action aligns with a broader crackdown in Asia, with countries like Taiwan, Thailand, China, and Japan already imposing restrictions.

Strategy significantly reduced its cash reserves to pay off debt, leaving $871 million for dividends and debt service, down from the previous $2.25 billion allocation. Despite speculation, the firm did not sell any of its 843,738 Bitcoin supply worth $64.7 billion.

The Digital Chamber urged the Treasury Department to support the recent decision to grant national trust bank charters to crypto firms. This move comes after Sen. Elizabeth Warren criticized the approvals, claiming they violated banking laws and posed threats to the U.S. banking system.

A trader bought $341 of a World Cup-themed Solana meme coin in mid-May, which has since surged over 30,000%, resulting in gains of $49,000 after selling. The token's market cap fluctuated significantly, reaching an all-time high of $12.2 million.

Strive (ASST) increased its Bitcoin holdings to 16,500 BTC, becoming the seventh-largest publicly traded company holding BTC. The company also saw a rise in cash equivalents to $93.3 million and an increase in the value of its Strategy Inc.’s STRC preferred stock to over $50 million. ASST is considering refreshing its at-the-market programs for future capital raises and bitcoin purchases.

Bitcoin and Ethereum ETFs experienced significant outflows totaling $112 million on Monday, while Hyperliquid ETFs continued their streak of eight days of net buying. The contrasting flows reflect a split in institutional interest, with legacy crypto funds losing capital amid macro uncertainty.

StablR has suspended minting and redemption services for its USDR and EURR tokens due to a cyberattack that left the assets under-collateralized. The company detected irregularities in its systems and froze token operations, requesting exchanges to halt trading activities.

The market value of stablecoins has surged to a record $322 billion, surpassing the FX reserves of 95 countries, including developed ones like the United Kingdom and Canada. Stablecoins, pegged to fiat currencies, are increasingly used for trading and cross-border payments, posing risks like capital outflows.

Ondo Finance founder Nathan Allman has passed away, as announced by the company without disclosing the cause. Ian De Bode, the longtime president, will take over as CEO, with the full confidence of the leadership team.