CFA Report Pegs US Crypto Fraud Losses at $80.7B

Coinbase introduced Base, a rebranded and expanded version of Coinbase Wallet, during a packed event in Los Angeles. Base offers a wide range of features, including social interactions, creator-focused monetization, and end-to-end encrypted chat with wallet integration.

House Resolution 580 passed in the U.S. House of Representatives by a narrow 217-212 vote, reviving three major crypto bills after a 10-hour standoff. The bills include the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act.

Bank of America's CEO, Brian Moynihan, expressed caution towards stablecoins due to regulatory uncertainty and lack of client demand. Despite previous interest, Moynihan now emphasizes the need for clear legal frameworks and proven demand before adoption.

At the San Francisco Bitcoin Meetup holiday party in December 2017, two young men posed for a photo that later became iconic in the crypto world. The "Great Crypto Crash" of 2018 saw Bitcoin plummet over 80%, triggering a broader market wipeout. Despite the downturn, one co-founder is now leading a decentralized derivatives exchange.

World Liberty Financial's native token, WLFI, will soon be available for trading to broaden community participation and protocol development. Initially exclusive to accredited investors, the project aims to engage a wider audience through token trading on exchanges.

Citigroup is considering issuing its own stablecoin for cross-border payments, following other banking giants exploring similar initiatives. The bank aims to enhance its blockchain solutions to compete with crypto-native options, as the stablecoin market continues to grow rapidly.

The U.S. Securities and Exchange Commission has postponed its decision on in-kind redemptions for Bitwise Bitcoin ETF Trust and Bitwise Ethereum ETF, with a new ruling date set for September 8. This delay is part of regulators' cautious approach despite a more favorable political climate for crypto.

Coinbase and MicroStrategy achieved record highs in stock prices and market capitalization, driven by the recent surge in cryptocurrency prices. While Coinbase hit an all-time high of $405.88, MicroStrategy's market cap exceeded $128 billion, with both stocks showing significant gains over the past week.

XRP's price reached a six-month high with notional open interest for the third largest cryptocurrency surging to record levels. XRP perpetual futures saw over $8.8 billion in open interest, with Bitget and Binance leading in centralized exchanges.

Cathie Wood's investment firm sold shares of ARK 21Shares Bitcoin ETF and Coinbase Global Inc. to potentially capitalize on market momentum and reduce exposure before the CPI release. The sales coincided with Bitcoin hitting a new all-time high and Coinbase facing regulatory pressures.