CFA Report Pegs US Crypto Fraud Losses at $80.7B

Adam Cochran announced his decision to sell his Coinbase stocks and bonds, opting to keep his assets elsewhere temporarily. Despite being a long-time customer and acknowledging Coinbase's early contributions to the industry, he expressed disagreement with a certain aspect of the company.

Altcoins like Solana and Ethereum surged as traders shifted from Bitcoin after it tested the $106,000 level. Ethereum gained favor due to recent upgrades and a focus on institutional adoption. Market analysts are monitoring if this marks the start of a broader altcoin season.

Strategy has bought another 10,100 BTC for its corporate Bitcoin treasury, at an average purchase price of $104,080 per Bitcoin. To finance the purchase, Strategy completed a 10% Series A Perpetual Stride Preferred Stock issuance, generating $979.7 million in net proceeds.

Vietnam's National Assembly approved legislation legalizing digital assets and providing incentives for semiconductor manufacturing, AI development, and tech startups. The Law on Digital Technology Industry defines digital assets and aims to boost the country's tech sector.

President Donald Trump earned $57.3 million from his crypto venture World Liberty Financial, which raised $550 million through token sales. Despite bipartisan criticism, Trump's crypto ties have generated over $600 million in total income, with his golf empire remaining his financial heavyweight.

Metaplanet acquired 1,112 BTC for $117.2 million, reaching its 10,000 BTC target. The company approved a $210 million bond issuance to EVO Fund, with proceeds allocated to Bitcoin purchases. Metaplanet aims to accumulate 210,000 BTC by 2027.

Decrypt's GG covers the latest in crypto gaming, including Dogecoin-themed mini-games by PlaysOut and the launch of FIFA Rivals by Mythical Games. These games offer unique features like Dogecoin NFTs and a multi-year licensing deal with Adidas.

Bitcoin, historically limited in financial utility, now has Bitcoin DeFi emerging to enable active use beyond holding. Sui, along with other blockchains like Solana and Cardano, offers various Bitcoin-based functionalities for DeFi applications.

In 2024, AI-generated deepfake scams accounted for 40% of high-value frauds, with $4.6 billion lost to crypto scams. These scams exploit trust, psychology, and technology, becoming more personalized and harder to detect.

Chris LaCivita, a key figure in Donald Trump's 2024 campaign, highlighted the importance of Trump's support for cryptocurrencies in attracting diverse voter blocs traditionally less inclined to support the GOP. LaCivita emphasized how embracing crypto helped the Republican Party connect with African-American, Asian-American, and young voters, expanding their reach.