CFA Report Pegs US Crypto Fraud Losses at $80.7B

BCP Technologies has launched the first stablecoin denominated in British pound sterling, tGBP, after a 14-month review and participation in the FCA regulatory Sandbox. Each tGBP token is backed 1:1 by reserves held in a segregated account at a UK-regulated financial institution.

Attendees of the Trump meme coin holders dinner received up to three NFTs, with one selling for $16,000. Despite lacking utility, these NFTs are considered historic collector's items celebrating the "Crypto President."

Robinhood's acquisition of Bitstamp has led to a 54% surge in its shares due to a growing interest in digital asset services among fintech companies. Analysts predict further growth in Robinhood's shares driven by its expanding digital assets offerings, including cryptocurrencies and other disruptive products.

The Ethereum Foundation is restructuring its Protocol Research & Development teams to focus on scaling the main blockchain, data storage, and user experience. The move aims to address demands that are challenging to meet and consolidate development efforts under a new division.

AUSTRAC is taking action against crypto ATM operators in Australia due to scams targeting elderly users, with new regulations including capped transactions at $5,000 and enhanced customer due diligence. The sector has seen significant growth, with over 1,800 ATMs in operation today.

Rep. Brandon Gill (R-TX) failed to disclose up to $500,000 in Bitcoin purchases within the 45-day window mandated by federal law, raising concerns about transparency and conflicts of interest among crypto-investing lawmakers. The STOCK Act, passed in 2012, requires timely reporting of lawmakers’ securities transactions, including those involving digital assets, to prevent insider trading.

Strategy, formerly MicroStrategy, plans to raise $250 million by selling preferred stock for Bitcoin purchases and operational expenses. The stock, named "10% Series A Perpetual Stride Preferred Stock” (STRD), will offer a 10% annual dividend yield and be listed on Nasdaq.

Solana, XRP, and Dogecoin experienced varying degrees of decline over the past week, with Solana dropping more than 10% to $156. The broader market pullback in digital assets is attributed to renewed investor caution due to trade tensions and macroeconomic uncertainty.

In 2021, Elon Musk's Bitcoin tweet caused concern over proof-of-work mining's environmental impact. Now, a study predicts AI could surpass Bitcoin in global data center electricity usage by 2025. Companies like Google and Microsoft are increasing electricity consumption due to AI, but lack transparency.

Vitalik Buterin, Ethereum's co-founder, foresees a tenfold growth in the network's capabilities within the next year. He emphasized the need to scale Ethereum's Layer 1 (L1) gradually to avoid centralization risks. Despite facing competition from faster networks like Solana, Ethereum has rallied recently.