CFA Report Pegs US Crypto Fraud Losses at $80.7B

SharpLink Gaming, an online casino company, raised $425 million to establish an Ethereum treasury, resulting in a 2,700% surge in share price and an 11-fold increase in market capitalization. Consensys CEO Joe Lubin orchestrated the deal, positioning Ethereum as a potential leader in institutional adoption.

Recent fluctuations in the crypto market, with altcoins like XRP and Solana dropping by 4.5% and 5.1% respectively, have been attributed to uncertainty surrounding President Donald Trump's trade tariffs. Bitcoin, on the other hand, has only fallen by 1.6% to $105,370 in the same period, leading to a rise in its dominance to 64.14%.

SharpLink Gaming recently pivoted to become a crypto treasury company by establishing an Ethereum treasury, raising $425 million in investment. This move led to a significant increase in the company's stock price and market capitalization, following a strategy similar to that of MicroStrategy.

Bitcoin dropped nearly 3% after a U.S. appeals court temporarily reinstated Trump's tariffs, following a trade court's ruling. The legal uncertainty surrounding the tariffs, along with other economic factors, is impacting the crypto market.

Bitcoin has dropped 6% from its all-time high, influenced by various factors such as predictions from U.S. Vice President JD Vance and concerns about quantum computing risks. BlackRock's warning about quantum computing's threat to bitcoin has raised alarms in the crypto market.

The US Treasury has sanctioned Philippine firm Funnull Technology Inc and its administrator over their involvement in "pig butchering" scams, leading to over $200 million in reported losses by US victims. Funnull's assets in the US are now blocked, and American companies are prohibited from doing business with them.

The Securities and Exchange Commission of Thailand will block unlicensed digital asset trading platforms including Bybit, 1000X, CoinEx, OKX, and XT.COM from June 28, 2025. The move aims to protect investors and prevent illegal platforms from being used for money laundering.

Coinbase has signed a lease for office space in San Francisco's Mission Rock development, marking its return to the city after abandoning its headquarters model three years ago. The 150,000 square foot spot at 1090 Dr. Maya Angelou Lane will be Coinbase's largest single office.

Paris Saint-Germain has publicly confirmed holding Bitcoin in its treasury, breaking from other sports clubs' short-term crypto experiments. With over 550 million fans globally, PSG leverages its reach through PSG Labs to incubate Bitcoin ventures.

President Touadéra announced the tokenization of over 1,700 hectares of land in the Central African Republic, to be accessible online using $CAR on Solana. The land, located near Bangui, may be used for mining purposes, aligning with the country's laws on tokenizing natural resources.