CFA Report Pegs US Crypto Fraud Losses at $80.7B

Legislation introduced by Rep. Maxine Waters aims to prevent the president, vice president, and members of Congress from owning crypto assets while in office. The bill, targeting President Trump, raises concerns about potential conflicts of interest and foreign influence.

Bitcoin, which was once traded for next to nothing, has now hit a new high of $111,770, making 10,000 BTC worth over $1.1 billion. Bitcoin Pizza Day commemorates the first known instance of Bitcoin being used for a purchase, highlighting its remarkable price surge over 15 years.

The Russian Ministry of Energy is contemplating offering incentives for Bitcoin miners to relocate to the northern regions due to a ban imposed on mining in ten southern regions. The ban, in place until 2031, aims to alleviate energy shortages caused by the Ukraine war.

Republican Sen. Bill Hagerty believes the GENIUS Act will increase demand for U.S. Treasuries and strengthen the dollar's status as the world's reserve currency. The bill aims to allow entities to issue stablecoins with reserves including cash and short-term U.S. Treasuries.

Bitcoin treasury giant Strategy, formerly MicroStrategy, plans to raise $2.1 billion by issuing more preferred stock, including the Perpetual Strife Preferred Stock (STRF) with a 10% annual cash dividend. The company's fundraising initiatives also involve issuing common shares and another preferred stock, STRK, on the Nasdaq.

Meme coins like TRUMP, FARTCOIN, and SPX have surged in value, with the sector rising 7.3% to a total market cap of $80.2 billion. Moonpig (MOONPIG) saw the most significant increase, spiking 130% in 24 hours to a $114.41 million market cap.

An exploit on the Cetus decentralized exchange within the Sui ecosystem resulted in $200 million stolen from liquidity pools. Notable Sui meme coins like Lofi, Sudeng, and Squirtle experienced significant drops, with Cetus token also falling. The attacker manipulated smart contracts to extract assets from multiple pools.

The UK Court of Appeal dismissed most of the $13.3 billion class action against Binance, rejecting the investors' theory that Bitcoin SV would have reached Bitcoin's price if not delisted in 2019. The court found the claim speculative and not legally applicable, narrowing the lawsuit's scope.

FIFA is moving its FIFA Collect NFT platform from Algorand to its own Avalanche Layer-1 blockchain for better performance, scalability, and customization. The migration aims to enhance fan experiences with faster transactions and seamless integration with popular wallets.

Landmark legislation to establish a Bitcoin reserve in Texas passed the House, awaiting a concurrence vote before reaching Governor Abbott's desk. The bill, backed by bipartisan support, faced opposition during its final reading, with 42 votes against.