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The Consumer Federation of America reported that cryptocurrency scams and cybercrimes resulted in estimated losses of $80.7 billion, with investment fraud being the largest category at $8.6 billion. The FBI's complaint center recorded over 1 million complaints, totaling $20.9 billion in losses.
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Mike Novogratz believes Ethereum has the potential to surpass Bitcoin in the coming months due to institutional interest. Ethereum is currently trading at around $3,730 per coin, 24% below its all-time high, but showing signs of a comeback.
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XRP hit a new all-time high despite a decline in daily active users on the XRP Ledger. Data indicates a shift towards more intensive capital deployment, with a 50% decrease in users since the beginning of the year.
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GameSquare, a digital media company, acquired a rare CryptoPunk NFT for $5.15 million in preferred shares. The NFT, featuring "Cowboy Hat" and "Ape" traits, was previously owned by Robert Leshner and is considered a strategic treasury asset.
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Chris Larsen, Ripple co-founder, transferred $175 million in XRP to four addresses, with over $140 million ending up on exchanges. This occurred as XRP hit a record high of $3.65 before dipping to $3.25 amid a positive market trend.
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BitMine Immersion Technologies holds the largest corporate Ethereum treasury, with 566,776 ETH valued at $2.1 billion. The company aims to acquire and stake 5% of the total ETH supply, having purchased the tokens at an average price of $3,643.752 per ETH.
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Solana tokens PENGU, FARTCOIN, and PUMP are featured in popular prediction markets on Myriad Markets this week. SharpLink Gaming has been accumulating Ethereum, with predictors speculating on its treasury growth. Predictors are also betting on the market cap of PUMP and FARTCOIN on Myriad.
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Ben Askren, recovering from a severe case of pneumonia and a double lung transplant, promoted a Solana meme coin that quickly crashed in a suspected "rug pull" scam. Despite claims of hacking, evidence suggests Askren was paid to endorse the token launch.
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The Senate has begun considering its own version of the crypto market structure bill after the House passed a similar bill. House Majority Whip Tom Emmer expressed confidence that the Senate will pass the House's CLARITY Act, with a deadline set by the White House for September 30.
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Hyperliquid's native token, HYPE, has surged over 550% since its launch, but predictions on Myriad Markets suggest it may not hit $69.69 by September. Technical analysis indicates a 60% rally would be challenging in the near term.
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WOO X, a Taiwan-based crypto exchange, froze withdrawals after $14 million was stolen from nine users in a hack. The exchange is working with security teams to stop the flow of funds and has reassured affected users that unauthorized withdrawals will be covered.