CFA Report Pegs US Crypto Fraud Losses at $80.7B

Ethereum has surged nearly 10% today and 26% over the past week, trading above $3,300, making it the best performing token among the top 20 cryptocurrencies. The altcoin sector is stealing the spotlight with explosive moves, showing renewed strength in the crypto market.

Ethereum shorts worth over $152 million were liquidated as its price surged, accounting for more than half of the total crypto shorts liquidated. ETH's volatility is attributed to regulatory news, with trading volumes and open interest rising significantly in the past day.

Roger Ver, known as "Bitcoin Jesus," has sued Spain over extradition to the U.S. for tax evasion charges. His legal team argues that the extradition order violates his right to liberty due to legal uncertainties in the U.S. tax treatment of crypto.

Talos is acquiring Coin Metrics to expand its services for institutional investors, joining a trend of crypto M&A deals this year. The deal, reportedly valued at $100 million, marks Talos' largest acquisition and aims to create an integrated institutional platform.

Trump's criticism of Fed Chair Jerome Powell led to volatility in the crypto market, with Bitcoin's price fluctuating between $119,000 and $119,650. Despite reports suggesting Trump might fire Powell, he stated he has no immediate plans to do so.

The House narrowly passed three major crypto bills after a dramatic vote, with some Republicans changing their votes to "yes" at the last moment. Despite initial opposition, President Trump convinced holdouts to support the bills, allowing Crypto Week to continue as planned.

Meme coins like Dogecoin, TRUMP, and MELANIA are experiencing significant gains, with Dogecoin leading the pack with a 6.7% increase in the last 24 hours. Solana-based tokens, including PUMP, UFD, and MICHI, have also seen substantial growth.

The Smarter Web Company has increased its Bitcoin holdings by 325 BTC, bringing the total to 1,600 BTC at an average price of £79,534. With a year-to-date BTC yield of 39,258%, the company continues to invest in Bitcoin as part of its long-term strategy.

BTCS, a Nasdaq-listed blockchain technology firm, is set to join the Russell Microcap Index, potentially attracting more investors. The company recently announced a $100 million funding plan to acquire more ETH for its balance sheet and offers blockchain services like staking and block building.

Over $10 million in cryptocurrency was seized by the DEA from the Sinaloa cartel in Miami, part of a larger operation across multiple states. The report also mentioned significant drug seizures, including fentanyl pills and methamphetamine, since January.