CFA Report Pegs US Crypto Fraud Losses at $80.7B

Arthur Hayes predicts that Trump's economic policies and global instability will drive investors away from US Treasury bonds, pushing Bitcoin to $1 million by 2028. Hayes also suggests that capital controls may be implemented to prevent money leaving Western nations, potentially boosting Bitcoin further.

Bitcoin Depot's shares surged 20% to $2.04 after reporting a first-quarter profit of $12.2 million, with revenue up 19% to $164.2 million. The company holds $7.8 million in Bitcoin and aims to expand into New York by 2025.

Movement Labs, backed by Donald Trump’s World Liberty Financial, allocated large token stakes to early insiders without disclosing the deals, raising questions about the project's power dynamics. The agreements with advisers, including Thapaliya and Parekh, were not disclosed to investors but were crucial in shaping Movement's trajectory.

0x, a decentralized exchange infrastructure firm, acquired rival Flood to enhance its competitiveness in the DEX aggregation market. Flood's proprietary software impressed 0x, leading to a complete rewrite of their technology stack for improved performance.

Top cryptocurrencies saw a pullback on Thursday, with Bitcoin dropping to $101,500, signaling a delay in reaching all-time highs. Altcoins like Ethereum, XRP, Solana, and Dogecoin also experienced sell-offs, while the stock market's risk appetite cooled due to the Federal Reserve's interest rate adjustments.

Coinbase refused to pay $20 million in Bitcoin to cybercriminals who attempted to extort the company over stolen customer data. Instead, the exchange is offering a $20 million bounty for information leading to the arrest of the attackers.

Research from the Global Initiative Against Transnational Organized Crime reveals an increase in criminal use of cryptocurrency in Western Balkan nations like Albania and Serbia. The region faces challenges in seizing illicitly sourced crypto, with limited documented cases of asset seizures to date.

Telegram terminated a major crypto-fueled black market, Haowang Guarantee, which laundered over $27 billion in Asia's cyber scam economy. The platform banned thousands of accounts linked to the illicit marketplace, forcing it to shut down immediately.

A new partnership between Mastercard and a crypto company, MoonPay, will enable users and businesses to conduct transactions using stablecoins globally. The collaboration leverages infrastructure from Iron, a stablecoin payment firm acquired by MoonPay. Despite regulatory uncertainties, card networks are increasingly embracing stablecoin technology for various financial applications.

The Ethereum Foundation has introduced the Trillion Dollar Security Initiative to enhance the network's security and attract more users. This initiative aims to make Ethereum secure enough for holding trillions of dollars and involves input from various security experts and community members.