CFA Report Pegs US Crypto Fraud Losses at $80.7B

President Santiago Pena's tweet claiming Paraguay made Bitcoin legal tender was dismissed as a hack by the government. The tweet, which included a Bitcoin address, aimed to lure investors with false promises of a $5 million reserve fund.

Bitcoin's implied volatility has hit a one-year low amid trade talks between the U.S. and China, with its price hovering around $108,000. The tension between the two nations has led to knee-jerk reactions in the crypto market, but no significant directional breakout has occurred.

KULR Technology Group plans to raise $300 million through an at-the-market offering to increase its Bitcoin treasury, currently holding 920 Bitcoin valued at $996 million. The company aims to steadily grow BTC per share over time and is undeterred by short-term market volatility.

The crypto market saw a 1.72% increase in total market capitalization, nearing the peak reached in late May. Bitcoin's technical analysis revealed bullish signals, with a stable price around $108,313 and a strong support zone.

Chairman Paul Atkins and other SEC commissioners are considering exempting DeFi platforms from regulatory barriers to allow for innovation in on-chain financial systems. Atkins directed SEC staff to explore changes in agency rules to accommodate issuers and intermediaries in bringing products to market quickly without interference.

The Blockchain Group plans to raise €300 million to acquire Bitcoin, following a recent purchase of $68 million BTC. The company will partner with TOBAM for an "at-the-market" offering, capped at 21% of daily trading volume, to expand its Bitcoin treasury strategy.

Coinbase and BiT Global have mutually agreed to dismiss the lawsuit regarding the delisting of Wrapped Bitcoin. The lawsuit was filed in December, with BiT Global claiming the delisting was a predatory move by Coinbase to boost its own competitor, cbBTC.

President Javier Milei has been cleared by Argentina's anti-corruption unit for his involvement in promoting the LIBRA meme coin, stating he acted in a personal capacity. Despite a criminal probe, the office found no wrongdoing in Milei's actions regarding the cryptocurrency. LIBRA's value plummeted by 90% after its debut, leading to accusations of a pump-and-dump scheme.

Circle's stock soared to a record high of $138.57 on its third trading day, following a successful IPO at $31 per share. Institutional interest remains strong, with SBI Holdings investing $50 million and ARK Invest purchasing 4.48 million shares. ProShares and Bitwise also show interest in launching CRCL-related ETFs.

The revised CLARITY Act aims to provide legal protection for non-custodial developers in the decentralized finance sector. The bill, sponsored by House Republicans, includes a provision specifying that certain developers shall not be treated as money transmitters solely based on their roles.