CFA Report Pegs US Crypto Fraud Losses at $80.7B

A proposal to rebrand Bitcoin's base unit, supported by Jack Dorsey, suggests shifting from satoshis to Bitcoin itself. The Bitcoin Improvement Proposal aims to simplify quantities by removing decimal points and leading zeroes, potentially making Bitcoin more user-friendly and appealing for spending.

The U.S. Securities and Exchange Commission has delayed its decision on ETF proposals for tracking Solana's price from 21Shares, Bitwise, VanEck, and Canary Capital. The SEC cited the need to further review legal and policy issues, emphasizing that the delays do not indicate approval or rejection likelihood.

Coinbase, the largest crypto exchange in the U.S., is collaborating with law enforcement to investigate a recent hack where customer data was stolen, with attackers demanding $20 million in Bitcoin for its return. The U.S. Department of Justice has initiated an investigation into the attack, following Coinbase's disclosure last week.

Jamie Dimon announced during JP Morgan's investor day that the bank will soon allow customers to buy Bitcoin but will not provide custody services. This marks a shift in the bank's stance on cryptocurrencies, as Dimon has previously criticized Bitcoin as a "fraud" and "pet rock."

The U.S. Justice Department is investigating a breach at Coinbase Global Inc., where hackers bribed employees in India to obtain client data, a source familiar with the matter told Bloomberg. Coinbase disclosed the incident, estimating potential costs of up to $400 million to remedy the situation.

Vladimir Smerkis, former head of Binance's Russia division, was arrested in Russia for alleged involvement in a large-scale criminal fraud case. The Zamoskvoretsky District Court in Moscow granted the investigator's request to detain Smerkis, who co-founded trading app Blum in December 2023.

Ethereum investment products saw a significant increase in inflows, reaching $205 million last week, with total digital asset investment inflows surpassing $7.4 billion year-to-date. Despite a recent price drop to $2,400, Ethereum remains up 50% over the past month, attracting investors even after a challenging first quarter.

Ponke, a top 25 Solana meme coin, has partnered with 223 to create adult-focused collectibles and apparel, including blind box collectibles and NFC-tagged products. The partnership aims to expand Ponke's offerings and reach new markets through physical and digital products.

Bitcoin experienced a volatile week, rising to $106,500 before dropping to $102,450, leading to $178.46 million in liquidated positions. Ethereum also fell 4.3% to $2,400, with $264.40 million in liquidations, following a positive month for the crypto industry.

Strategy and Metaplanet made significant Bitcoin purchases, with Strategy owning 576,230 BTC and Metaplanet acquiring 7,800 BTC. Both companies have seen gains, with Strategy's reserves appreciating close to $20 billion since August 2020.