CFA Report Pegs US Crypto Fraud Losses at $80.7B

Eurogroup President Paschal Donohoe discussed the EU's plan to expand AML regulation to include tracking cryptocurrency transfers. The new Anti-Money Laundering Regulation will require exchanges to identify users of self-hosted wallets.

U.S. District Judge K. Michael Moore dismissed most claims against celebrities sued for promoting collapsed crypto exchange FTX, stating investors failed to prove their knowledge of fraudulent activities. The lawsuit against celebrities could be amended, and claims of promoting unregistered securities remain active.

The SEC and Ripple Labs settled a lawsuit after four years, with Ripple and its executives agreeing to pay $50 million to the SEC. The settlement awaits approval from District Court Judge Analisa Torres, who previously ordered Ripple to pay a $125 million fine.

Dogecoin (DOGE) surged 14% in 24 hours, outpacing Bitcoin's gains, now trading at $0.195, up 36% for the month. Other meme coins like TRUMP, Fartcoin, and PEPE are also experiencing significant gains.

Binance founder Changpeng Zhao has begun the pardon application process after completing a money laundering sentence. He clarified that he is not exchanging Binance.US equity for a pardon, stating he has only recently started the legal procedure.

Coinbase reported a 10% decrease in total revenues for the first quarter of 2025, falling short of analyst expectations. The company's net income dropped by 94% compared to the previous quarter, with earnings per share shrinking significantly.

The rise of prediction markets has provided crypto participants with diverse opportunities to engage in real-time event predictions. Myriad, a prediction market, allows users to wager on the likelihood of events, such as Dogecoin's price surpassing $0.19. Notable markets include Dogecoin's price and the selection of the new pope.

Alex Mashinsky, the former CEO of Celsius, received a 12-year prison sentence for his role in the company's collapse. Prosecutors alleged deliberate fraud and manipulation of Celsius' business model, leading to catastrophic financial harm for investors.

Bitcoin and other cryptocurrencies surged on Thursday following a U.S.-U.K. trade deal, with BTC surpassing $100,000 for the first time since February. The Federal Reserve's decision to maintain interest rates led to President Trump criticizing Chair Jerome Powell for not cutting rates. Ethereum also saw a significant increase, breaking $2,053 for the first time since March.

The GENIUS Act, a stablecoin bill, faced a setback in the Senate as key Democrats withdrew support, leading to a failed procedural vote. The bill's chances of passage have significantly decreased, potentially affecting other pending crypto legislation.