CFA Report Pegs US Crypto Fraud Losses at $80.7B

Altcoins are driving the crypto markets forward, with Ethereum gaining 9.2% in 24 hours, potentially breaking $2,000. Dogecoin, Cardano, Sui, and Bitcoin Cash have also seen significant gains, while Pudgy Penguins surged 27% in a day.

Kuwaiti authorities are intensifying efforts against illegal crypto mining, investigating 31 cases and questioning 116 individuals. The misuse of electricity for mining in 59 residential properties has strained the national power grid, leading to blackouts.

Standard Chartered's Head of Digital Assets, Geoffrey Kendrick, is reconsidering his bullish bitcoin forecast, acknowledging that the rally has surpassed expectations due to surging institutional interest and strategic asset reallocation trends. Kendrick now sees bitcoin potentially surpassing $120,000 this summer and reaching $200,000 by year-end.

Superstate, known for the USTB token, is launching Opening Bell, a Solana-based platform for tokenizing public equities. This move enables real-time trading and programmable securities, targeting public and private companies seeking liquidity.

The acquisition of Deribit by Coinbase was announced without disclosing the deal's value, but executives later revealed it to be $2.9 billion, including cash and stock. This breaking news story was reported by The Wall Street Journal and edited by Stacy Elliott.

ING predicts the Federal Reserve may implement aggressive interest rate cuts in the future due to uncertainties in the economic outlook. Chairman Jerome Powell's comments on increased risks of higher unemployment and inflation indicate a potential delay in rate cuts. The Fed's cautious approach is likely influenced by concerns over trade wars and supply disruptions impacting inflation.

Superstate, led by Robert Leshner, is launching Opening Bell, a platform for companies to issue SEC-registered public shares directly on blockchains. SOL Strategies, a Canadian firm, will be the first to list its shares on Solana this summer, aiming to tap into the future of Internet capital markets.

Sweat, a fitness app rewarding users with SWEAT tokens for walking, is introducing Mia, an AI agent powered by Near Protocol's Near AI infrastructure. Mia aims to simplify user experience and manage crypto rewards as the platform expands to multiple chains.

Fidji Simo, CEO of Instacart, has been appointed to lead OpenAI's Applications division as CEO Sam Altman shifts focus to research and safety. The move marks a restructuring of OpenAI's leadership as it accelerates efforts toward artificial general intelligence (AGI).

The Group of Seven countries are planning to address and mitigate North Korea's long history of engaging in crypto hacks and malicious cyber activities. Investigations have shown that stolen funds from the crypto industry have been used to support North Korea's development of weapons of mass destruction. The summit, hosted by Canadian Prime Minister Mark Carney, will bring together leaders from the world's seven most advanced economies.