CFA Report Pegs US Crypto Fraud Losses at $80.7B

German authorities have seized servers and cryptocurrency worth $37.4 million from eXch, an unlicensed crypto exchange accused of aiding North Korean threat actors in money laundering. The exchange, accessible on both clearnet and darknet, was linked to multiple crypto thefts.

Ethereum surged by 28.9% following the Pectra upgrade, aiming to enhance user experience, scalability, and staking flexibility. The wider crypto market is up 3.5%, with top winners being Ethereum-based projects like Pepe and Virtuals.

Mohammed Azharuddin Chhipa was sentenced to 30 years for funneling over $185,000 in crypto to ISIS between 2019 and 2022. The funds were used to support ISIS members in detention camps and fighters in Syria.

Metaplanet plans to sell $21.25 million in bonds to buy more Bitcoin, following two recent $25 million bond sales. The bonds have no interest and mature on Nov. 9, as announced by the Tokyo-based firm. With 5,555 BTC, Metaplanet holds the 11th-largest Bitcoin stash among publicly-traded companies.

The Senate's failure to advance the GENIUS Act, a bill aimed at establishing a federal regulatory framework for stablecoins, has caused uncertainty over stablecoin oversight and digital asset legislation. Treasury Secretary Scott Bessent expressed disappointment, emphasizing the need for American leadership in the global digital assets race.

Steak ‘n Shake will start accepting Bitcoin at all U.S. locations from May 16, allowing customers to pay for items like milkshakes and burgers with BTC. This move will test Bitcoin's speed, cost, and usability in a high-volume, low-margin fast food setting.

Jeffy Yu, previously thought to have died by suicide, was discovered alive at his parents' home by a reporter. The 22-year-old claimed to have been doxxed and harassed, leading to his disappearance and the subsequent surge and plummet of the $LLJEFFY meme coin.

MARA Holdings reported a $533 million net loss in Q1, despite a 30% revenue increase and a 174% rise in Bitcoin holdings. The company's bottom line suffered due to a $510 million negative adjustment on the fair value of its Bitcoin holdings.

SEC Commissioner Caroline Crenshaw criticized the agency's settlement with Ripple Labs, stating it weakens crypto enforcement and harms investors. The settlement, which involves a $50 million payment, marks a shift in the SEC's approach to digital assets.

Bitcoin and altcoins surged due to expectations of interest rate cuts, renewed institutional demand, and a U.S.-U.K. trade deal. Despite the Fed's unchanged rates, markets anticipate a cut soon, with Bitcoin hitting $103,460.