CFA Report Pegs US Crypto Fraud Losses at $80.7B

Robinhood is developing an Ethereum layer-2 scaling network for trading digital assets like stocks, aiming to connect with other entities in the crypto space. Meanwhile, Kraken is focusing on tokenized stock trading on Solana, with plans to expand to other blockchains.

xStocks, a new feature on the Solana blockchain, allows traders to hold tokenized shares of companies like Nvidia, Tesla, and Meta. Each xStock token is backed 1:1 by the actual stock, providing users with ownership and flexibility.

Traders on the prediction market Myriad are closely monitoring whether Bitcoin will close above $108,000 by the end of the week. With Bitcoin hovering near the $108K mark, the odds on Myriad have shifted to a 69% chance of it not reaching the target.

The U.S. Senate narrowly passed President Donald Trump’s reconciliation bill without key tax amendments benefiting crypto users. Despite efforts by pro-crypto senators and industry leaders, the amendments were not included due to time constraints.

New York Attorney General Letitia James has raised concerns about the U.S. Senate's stablecoin bill, urging Congress to enhance innovation while protecting the banking system. She proposed regulating stablecoin issuers as banks and requiring them to be domiciled in the U.S.

Hut 8 Corp.'s subsidiary, American Bitcoin Corp., raised $220 million in a private stock placement with accredited investors, including $10 million in Bitcoin. The funding will be used to increase Bitcoin reserves and buy more mining equipment, following a Rule 506 exemption from SEC registration.

Bitcoin Cash (BCH) surged 15% in a week, hitting a seven-month high at $519.10. The rally, driven by whale activity, outperformed the overall crypto market cap, which dipped 2.8%.

Bella Protocol's Token Yugijo coin flip game offers a transparently fair and verifiable experience, contrasting the unpredictable nature of trading meme coins. The game, built on Ethereum layer-2 network Optimism, aims to provide entertainment and a break from the chaos of crypto trading.

Coinbase's shares dropped 2.1% following the U.S. Supreme Court's decision and ARK Invest's $95 million share sell-off. The Supreme Court's refusal to hear Coinbase's appeal in Harper v. Faulkender and ARK Invest's rebalancing contributed to the decline.

Mastercard is expanding its crypto presence by hiring two senior leaders for digital assets and blockchain roles in the U.S. The Vice Presidents will focus on strategic partnerships in the digital asset sector and collaborating with financial institutions on blockchain uses.