CFA Report Pegs US Crypto Fraud Losses at $80.7B

Steak 'n Shake's COO Dan Edwards highlighted the benefits of accepting Bitcoin payments, citing faster transactions and lower processing fees compared to credit cards. Since introducing Bitcoin payments earlier this month, he said the company has seen a growing portion of global Bitcoin transactions taking place at its locations.

SharpLink Gaming has secured $425 million in a private investment in public equity (PIPE) offering to establish an Ethereum treasury, leading to a 400% surge in its stock price. The raise, led by Consensys, will see the company acquire Ethereum as its primary treasury asset, following a similar strategy to Michael Saylor's MicroStrategy.

Cantor's Bitcoin lending business completed its initial transactions, marking its expanding presence in the crypto sector. FalconX and Maple Finance were the first to utilize the financing, with Cantor aiming to provide up to $2 billion in this phase. The collaboration signifies progress in establishing institutional-grade credit infrastructure for digital assets.

Michael Saylor's comments at a Bitcoin conference sparked criticism as he dismissed the idea of audits, citing security risks from hackers and nation-states. Saylor, whose company holds over 567,000 Bitcoin, believes that publishing wallets poses significant vulnerabilities.

Circle, the stablecoin issuer behind USD Coin (USDC), aims to raise up to $624 million in its upcoming initial public offering. The company plans to offer 24 million shares at $24 to $26 each, targeting a $6.7 billion valuation. With big backers like ARK Investment, Circle is set to trade on the NYSE as CRCL.

Thailand is considering legislation to allow tourists and citizens to use digital assets through linked credit cards, aiming to simplify transactions. The Ministry of Finance plans to pilot the system with the Bank of Thailand before a wider rollout, merging legal frameworks for the capital and digital asset markets.

At least 12 suspects have been arrested by French police in connection with two recent crypto-kidnapping incidents in Paris. The arrests were made by a special police unit focused on armed robberies, with charges including criminal conspiracy, kidnapping, and attempted kidnapping. The incidents involved violent kidnappings with demands for millions in crypto ransom.

The Labubu meme coin, inspired by the Labubu toy range, surged by 5,934% in two weeks to reach a $49.16 million market cap. Pop Mart halted Labubu doll sales due to safety concerns amid chaotic scenes at stores.

Circle Internet Group, the company behind the USDC stablecoin, has filed for an IPO on the NYSE, offering 24 million class A shares. The IPO price is expected to range between $24 and $26 per share, potentially raising almost $250 million for Circle.

Alpaca Finance, a once-popular DeFi yield farm, has announced its shutdown, citing declining revenues, waning user interest, and mounting operational costs. Despite efforts to cut costs and introduce new products, the protocol suffered a 94% plunge in investor funds over four years.