CFA Report Pegs US Crypto Fraud Losses at $80.7B

Kazakhstan, a major bitcoin mining country, will host central Asia's first spot bitcoin exchange traded fund (BETF) on the Astana International Exchange (AIX) starting August 13. The fund, regulated by the Astana International Financial Centre (AIFC), offers direct Bitcoin holdings with custody by U.S.-regulated BitGo.

A recent SEC filing revealed that tech billionaire Peter Thiel and related entities acquired a 7.5% stake in 180 Life Sciences, now known as "ETHZilla," causing the company's stock to triple in value. Thiel's involvement in crypto extends to various ventures, including Ethereum-focused companies like BitMine.

Monero, the privacy coin, is down almost 25% in the last month due to a 51% attack by rival project Qubic, causing panic among XMR holders. The attack led to a heavy price increase for Qubic and a corresponding crash for Monero.

Over $1 billion flowed into Ethereum ETFs on Monday, setting a new record and pushing the asset's price above $4,500. The surge in investments is attributed to growing interest in stablecoins and the narrative around Ethereum's network.

Ethereum's price surged past $4,500, marking a 26% increase in the last week and over 50% in 30 days. The cryptocurrency's momentum is fueled by significant inflows to exchange-traded products and aggressive accumulation by treasury companies like SharpLink Gaming and BitMine Immersion Technologies.

Bitmine Immersion plans to raise $24.5 billion through a common stock sale, increasing its target by $20 billion to purchase more ETH. The company's move aligns with a trend of publicly traded firms accumulating Ethereum to boost their stock value.

In the second quarter, eToro's revenue from crypto trading accounted for 91% of its total revenue, slightly lower than the previous quarter. Despite a small net loss from crypto derivatives trading, digital asset trading remained the primary revenue driver for the company.

Bitcoin Depot reported a $12.3 million profit in the second quarter, with a 183% increase attributed partly to the rise in the value of its Bitcoin holdings. The company's revenue rose 6% year-over-year to $172 million, driven by increased kiosk deployment and larger transaction sizes.

Sources reveal that a supposedly banned Coinbase ad is running on Channel 4's YouTube videos, contradicting claims of a ban by British TV networks. Despite Clearcast's refusal to approve the ad for TV, it can still be seen on the online platform.

Bo Hines, President Trump's former crypto adviser, has been replaced by his deputy, Patrick Witt, who will now oversee the industry's political interests in Washington. Witt, a former football player like Hines, lacks a significant background in crypto but is tasked with advancing industry regulations.