CFA Report Pegs US Crypto Fraud Losses at $80.7B

Treasury Secretary Scott Bessent defended stablecoins, stating they can strengthen the dollar's dominance, while urging Congress to pass the GENIUS Act swiftly. The Senate's recent approval of the stablecoin framework marked a reversal from the previous month's setback.

A Bitcoin scandal involving a darknet drug trafficker's donation to a justice minister almost led to the collapse of the Czech Republic's ruling coalition. Despite the close call, Prime Minister Petr Fiala's government survived a no-confidence vote, with the opposition criticizing the handling of the situation.

The GENIUS Act, a stablecoin-focused bill, passed the Senate with a 68-30 vote, prompting President Trump to urge the House to swiftly follow suit. Despite Senate approval, the bill faces challenges in the House, with debates over potential amendments and concerns about conflicts of interest.

Bitcoin has found strong support near $100,000, transitioning from resistance to support level. Analysts predict $110,000 as the new resistance, with potential for a new all-time high above $112,000. Various experts emphasize the importance of monitoring key levels for potential price movements.

The Ohio Blockchain Basics Act, if signed into law by Governor Mike DeWine, would protect digital asset users and miners, allowing for mining in residential and industrial areas. The bill also exempts individuals involved in crypto activities from certain financial laws.

FalconX is considering an initial public offering to meet institutional demand for digital assets. The firm has discussed the IPO process with bankers and consultants but has not yet hired an investment bank. FalconX aims to raise its public profile and secure fresh capital for strategic partnerships and acquisitions.

Phantom's attorneys are contesting WIENER DOGE's creator, Liam Murphy, serving as the sole attorney for plaintiffs in a lawsuit against the popular crypto wallet Phantom. Murphy argues that his family members, who were gifted WIENER DOGE tokens, cannot afford a specialized crypto litigator.

Bitcoin is testing support levels around $104K as global tensions rattle markets across the board. Meanwhile, Aerodrome Finance, trading as AERO, has surged over 80% in June and 14.78% today. Why? A big tie-up with Coinbase that's coming soon.

The U.S. Department of Justice has filed to seize $225.3 million worth of Tether's USDT stablecoin, linked to a large-scale crypto scam involving money laundering through the OKX exchange. Tether CEO Paolo Ardoino emphasized the company's commitment to compliance in digital assets.

Bitcoin and Ethereum remained relatively stable following the U.S. central bank's decision to maintain interest rates, with BTC trading at around $104,250 and ETH showing no significant movement. The Federal Reserve's cautious approach is influenced by uncertainties in the economic outlook despite positive inflation readings.