CFA Report Pegs US Crypto Fraud Losses at $80.7B

Morgan Stanley has introduced a money market fund tailored for stablecoin issuers, allowing them to invest reserves in assets like notes, bonds, and overnight repurchase agreements. The product complies with the GENIUS Act, a federal framework mandating reserve requirements for stablecoins.

A researcher successfully cracked a 15-bit elliptic curve cryptography key using a quantum computer, demonstrating a potential threat to cryptocurrencies like Bitcoin and Ethereum. The quantum attack, using a variant of Shor's algorithm, marks progress towards the day when quantum computers could jeopardize billions in cryptocurrency.

Jane Street has filed a motion to dismiss a lawsuit alleging insider trading during the Terra collapse. The firm argues that trades were made after information became public, refuting the claim of profiting from non-public information.

Aave and DeFi protocols are coming together under the "DeFi United" banner to address the KelpDAO exploit, with commitments from platforms and individuals including Aave founder Stani Kulechov. Mantle proposed a credit facility, while Lido, Tydro, and others confirmed participation in the relief effort.

Metaplanet, Japan's largest corporate Bitcoin holder, issued 8 billion yen in zero-interest bonds to finance future BTC purchases for its Bitcoin treasury, with EVO Fund as the investor. Despite facing deep paper losses, the firm continues its aggressive accumulation strategy.

U.S. spot Bitcoin ETFs have seen eight consecutive days of inflows totaling $2.1 billion, with BlackRock's IBIT leading at $167.49 million. Bitcoin's price has risen from $68,000 to $77,000 during this streak, coinciding with the ETF activity.

Wisconsin has filed complaints against Kalshi, Coinbase, Polymarket, Robinhood, and Crypto.com, arguing that their prediction market contracts are bets, not financial instruments. The state alleges that these platforms facilitate sports betting for residents, despite claims of legality in marketing materials.

The U.S. Treasury Department sanctioned a Cambodian senator and 28 entities for their involvement in a massive crypto scam operation. The senator, Kok An, owns resorts and casinos allegedly converted into scam centers by criminal organizations, laundering money and exploiting trafficking victims.

Fold Holdings, Inc. introduced the Bitcoin Bonus Program for companies to provide recurring BTC bonuses to employees, with Steak 'n Shake being the first to implement it for their hourly workers. The program simplifies Bitcoin incentives for traditional businesses by managing custody and compliance requirements.

Benjamin Pasternak, founder of Believe, faces criminal charges of assault and strangulation, along with civil allegations of misleading token holders and causing significant financial losses. The lawsuit accuses him of diluting token value and destroying balances, resulting in consumer losses in the millions.