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The Consumer Federation of America reported that cryptocurrency scams and cybercrimes resulted in estimated losses of $80.7 billion, with investment fraud being the largest category at $8.6 billion. The FBI's complaint center recorded over 1 million complaints, totaling $20.9 billion in losses.
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Coinbase CEO Brian Armstrong expressed support for former DOGE staffers, offering them positions at Coinbase to help create a more efficient financial system. Armstrong's invitation follows DOGE's controversial history and Musk's recent distancing from the agency.
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Former Cred Inc. executives pleaded guilty to wire fraud conspiracy, admitting to misleading customers about the company's financial health. Cred filed for bankruptcy in 2020, with customers claiming over $140 million in losses.
www.lemonde.fr
The French Interior Minister plans to convene with cryptocurrency professionals to address the recent surge in ransom kidnappings, following a series of violent incidents in France. The meeting aims to enhance security measures and raise awareness of potential risks within the industry.
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Standard Chartered is partnering with FalconX to enhance crypto services for institutional investors, leveraging the bank's infrastructure and FX capabilities. FalconX plans to focus on Singapore clients initially, with future expansion in Asia, the Middle East, and the U.S.
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Pro-crypto lawmakers are urging the Treasury to reconsider how the Corporate Alternative Minimum Tax (CAMT) affects digital asset holdings. The recent tax law and accounting rule convergence could lead to U.S. companies facing higher taxes than foreign competitors.
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In Paris, a woman and her child, relatives of a French crypto industry figure, were victims of an attempted kidnapping. The assailants tried to force them into a van, but the woman fought back, leading to their escape. This incident is part of a series of violent crimes targeting crypto-related individuals globally.
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The U.S. 10-year Treasury note yield rose above 4.5% due to a temporary tariff rollback between the U.S. and China, impacting Federal Reserve policy outlook. Bitcoin is trading near its all-time high of $104,000, influenced by market sentiment and inflation data.
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Ethereum surged over 8% in the last 24 hours, hitting $2,700 before slightly dropping. The coin has seen a remarkable 51% increase in the past week, with positive market sentiment and the recent Pectra upgrade driving the momentum.
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A Solana meme coin trader turned a small investment into nearly $190,000 by trading Gooncoin, a newly launched meme token that skyrocketed 70,000% in just 24 hours. Other meme coins like Fartcoin are also gaining popularity on X, with users comparing them to Gooncoin.
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Tether purchased nearly $459 million worth of Bitcoin for Twenty One's treasury, to be sold at the same price post-merger. The new Bitcoin company, formed by Tether, Bitfinex, Cantor Fitzgerald, and SoftBank Group, plans to launch with over 42,000 Bitcoin.