CFA Report Pegs US Crypto Fraud Losses at $80.7B

Bitcoin surged above $99,000, nearing its all-time high, following Trump's hint at a trade deal with the UK. The crypto asset rose 2.6% after Trump's announcement on Truth Social, with the market eyeing $100,000.

Stripe unveiled new features at its annual event, including Stablecoin Financial Accounts for businesses in 101 countries and an AI system to detect fraud and improve authorization rates. CEO Patrick Collison highlighted the importance of AI and stablecoins in reshaping the economic landscape.

The HTTP 402 payment status code, dormant since the early internet days, has been revived by Coinbase's x402 protocol, offering a native payment layer for the web. This open-source protocol allows users to make payments without complex processes, supporting various blockchains.

DeFi Development Corp. plans to implement a 7-for-1 stock split on May 20, increasing outstanding shares from 2 million to over 14 million. The company's pivot to the Solana blockchain ecosystem has led to a significant surge in its share price.

Strive Asset Management, co-founded by Ohio gubernatorial candidate Vivek Ramaswamy, plans to merge with Asset Entities to become a Bitcoin treasury company listed on Nasdaq. The merger allows accredited investors to exchange Bitcoin for shares tax-free under Section 351 of the U.S. tax code.

Robinhood is developing a blockchain-based platform for European retail investors to trade US securities, possibly through a partnership with a digital-asset firm like Arbitrum or Solana, sources told Bloomberg. The move aligns with a trend towards tokenized financial instruments to reduce costs and increase transparency.

New York prosecutors sought the SEC's opinion on Ethereum in 2023 to strengthen their case against KuCoin, as revealed in internal records obtained by Coinbase. The emails shed light on the regulatory uncertainty surrounding the crypto industry.

Democratic Senator Richard Blumenthal is investigating potential federal law violations in President Donald Trump's crypto business ventures, including the launch of meme coin Official Trump and involvement in DeFi platform World Liberty Financial. Blumenthal expressed concerns about the president's alleged pay-to-play scheme through cryptocurrency.

Coinbase faces analyst predictions of a decline in earnings per share and revenue for the first quarter due to a drop in trading volume and market cap. Despite optimism around stablecoins, concerns linger about losing retail share to decentralized exchanges like Solana and Base.

Tim Draper believes that businesses should acquire Bitcoin for their treasuries, emphasizing its importance and potential for growth. He envisions a future where funds operate solely on cryptocurrency, streamlining processes through smart contracts and blockchain technology.