CFA Report Pegs US Crypto Fraud Losses at $80.7B

Sony Bank has received conditional approval to establish a national trust bank, Connectia Trust, to issue a dollar-backed stablecoin. The bank aims to reduce fees for U.S. customers using the token for digital content across Sony's platforms.

Interpol revealed a 20-year-old's cryptocurrency wallet moved over $122.5 million in an alleged money laundering scheme targeting romance-scam victims. The operation led to 5,800+ arrests and $293 million intercepted across 97 countries, showcasing the global scale of social engineering fraud.

Kraken, the cryptocurrency exchange that plans to go public in the U.S., is seeking a full banking license in Europe, focusing on Lithuania. If successful, Kraken would be the sole crypto exchange with such a designation, following in the footsteps of fintech giant Revolut.

Radar Chat, a new app by the Cake Wallet team, merges end-to-end encrypted messaging with Lightning Network Bitcoin payments, enabling users to send Bitcoin via text messages seamlessly. The app utilizes Signal's protocol for encrypted messages and Bitcoin payments within private conversations.

The Capital Markets Authority in Kenya is looking to purchase an advanced blockchain surveillance system to monitor digital asset transactions and enforce compliance with the new law regulating virtual asset firms. The system will track various blockchains, generate alerts for high-risk activities, and map relationships between wallets.

Bitcoin has surged almost 10% in the past week, reaching $64,023 and hitting a two-week high above $64,500. Market-making firm Wintermute views this as a relief rally rather than a significant market shift, citing easing macroeconomic conditions and positive news on Ethereum and institutional adoption.

EDX Markets secured $76 million in a Series C funding round led by SBI Holdings to expand globally and develop new products. The platform operates an institution-only crypto marketplace with a central clearinghouse to minimize counterparty risk, following a structure similar to traditional financial markets.

Richard Heathcote, former CIO of Tether, is looking to sell a portion of his 1.26% stake in the stablecoin company. He is collaborating with PJT Partners for the sale, with ongoing discussions with potential buyers. Tether previously scaled back fundraising plans due to investor resistance.

Coinbase has obtained regulatory approval to offer equities and derivatives to UK customers, expanding its product line-up significantly. This move aligns with its goal to become an "everything exchange" by providing traditional financial instruments alongside cryptocurrencies.

Two Polymarket traders are suing the platform for allegedly changing market rules to deny their winning payout tied to Strategy's Bitcoin sale. The complaint includes allegations of breach of contract, unjust enrichment, and false advertising, seeking compensation and legal fees.