CFA Report Pegs US Crypto Fraud Losses at $80.7B

Premier David Burt discussed Bermuda's initiative to integrate stablecoins into everyday commerce, aiming to provide residents and businesses with digital payment options. The government, in collaboration with Circle and Coinbase, plans to distribute USDC stablecoin through airdrops and onboard merchants to accept digital payments.

Nigel Farage defended his non-disclosure of a $6.7 million personal gift from crypto billionaire Christopher Harborne, citing safety concerns and claiming no obligation to declare it. The matter has been referred to the Parliamentary Standards Commissioner for investigation.

21Shares launched the Strategy Yield ETN (STRC) on the London Stock Exchange, offering exposure to Strategy's Bitcoin-backed preferred shares. The ETN provides exchange-traded access to Stretch, a perpetual preferred stock backed by Strategy Inc.'s significant Bitcoin holdings.

Hut 8 Corp. has signed a $9.8 billion lease for its Beacon Point AI data center in Texas, catering to a high-investment-grade company's AI computing needs. The facility's capacity has been increased by 57% to accommodate the demand for AI infrastructure.

Executives from NYSE parent ICE, OKX, and Securitize caution about risks associated with synthetic tokenized stocks, highlighting discrepancies in offshore products. ICE plans a regulated platform for tokenized U.S. equities, emphasizing a conservative approach initially.

OpenTrade, a stablecoin infrastructure platform, closed a $17 million funding round led by Mercury Fund and Notion Capital, with participation from a16z Crypto, AlbionVC, and CMCC Global. The London-based company plans to expand its infrastructure and grow its asset management and trading teams to support stablecoin-based yield products.

Bitcoin reached a three-month high due to reports of a potential U.S.-Iran peace framework and the reopening of the Strait of Hormuz. The White House is close to finalizing a memorandum of understanding with Iran, aiming to end hostilities and discuss various issues.

Blockchain.com recently introduced SnapMarkets, a platform allowing users to bet on Bitcoin's price movements in 30-second intervals, with stakes starting at $1. This launch aligns with the growing popularity of prediction markets, with a total market volume of $29 billion in April.

Zcash surged 37% after Multicoin Capital revealed a "significant position" in the privacy coin, following a tweet praising Zcash's alignment with cypherpunk ideals. Dash and Monero also saw gains, with the privacy coin sector overall rising by 15%.

Bitcoin treasury firm Strategy revealed a shift in its Bitcoin strategy during its Q1 earnings call, with CEO Phong Le stating that the company would "consider" selling BTC when advantageous. Chair Michael Saylor added that, "We'll probably sell some Bitcoin to fund a dividend just to inoculate the market—just to send the message that we did it.” The company's net loss of $12.54 billion in Q1 2026 was mainly due to Bitcoin's decline.