CFA Report Pegs US Crypto Fraud Losses at $80.7B

The Ethereum Foundation will match up to $500,000 in donations for Roman Storm's legal defense after he was convicted on federal charges related to Tornado Cash. Storm faces potential jail time and the outcome will impact developers globally.

Block Inc. increased its Bitcoin holdings by 108 BTC in Q2, bringing the total to 8,692 BTC. The company reported a 1.5% rise in total revenue to $6.05 billion, with $2.14 billion coming from Bitcoin sales via Cash App.

Bitcoin is trading close to $117,000, up 3% from the week's open, following Trump's pro-crypto announcements. The surge in buying pressure led to a daily high of $117,580, causing short positions worth nearly $300 million to be liquidated. Open interest in Bitcoin futures briefly surpassed $10 billion post-announcement.

Bitcoin has rebounded to around $117,500 after President Trump nominated economist Stephen Miran for the Federal Reserve Board. Miran, a known Bitcoin supporter, is expected to bring easier policy, causing market speculation on potential inflation risks.

The SEC and Ripple Labs Inc. have closed their legal dispute over the sale of XRP tokens, with both parties withdrawing their appeals and agreeing to bear their own legal costs. Ripple will pay a $125 million civil penalty placed in escrow, to be transferred to the U.S. Treasury.

The Winklevoss twins have invested in American Bitcoin Corp., a mining company linked to President Donald Trump's sons, through a private placement involving Bitcoin. The company, which recently announced plans for a public listing, purchased $2 billion worth of Bitcoin for its treasury earlier this summer.

A long-dormant Bitcoin whale recently moved 3,000 BTC, valued at over $349 million, after a decade of holding. This movement is part of a trend involving dormant whales, with one selling over 80,000 BTC last month.

The expected executive order allowing Americans to add Bitcoin and Ethereum to their 401(k) retirement accounts has caused a surge in the crypto market. Analysts predict billions of dollars flowing into digital assets, creating a more stable price floor.

Sharplink Gaming plans to raise $200 million to add Ethereum to its corporate treasury, with shares priced at $19.50 each. The company aims to hold 1% of all Ethereum in circulation, attracting institutional investors.

Ripple CTO David Schwartz believes the XRP Ledger's Ethereum sidechain could attract fresh talent and foster experimentation within the ecosystem. The XRPL EVM Sidechain allows for smart contracts and applications similar to Ethereum, using XRP as its native token.