CFA Report Pegs US Crypto Fraud Losses at $80.7B

Volo Protocol, a DeFi platform on the Sui blockchain, suffered a $3.5 million exploit in specific vaults holding WBTC, XAUm, and USDC. The breach adds to DeFi's $7.78 billion in hacks, raising concerns about smart contract security.

The Coinbase premium index, a key indicator for U.S.-based investors' interest in Bitcoin, has been positive for 14 consecutive days, the longest stretch since October. A positive premium on Coinbase compared to offshore exchanges signals aggressive BTC purchases by U.S. buyers, historically linked to bull runs.

Kevin Warsh faced tough questioning from senators regarding his commitment to the Federal Reserve's independence during a confirmation hearing. Warsh denied being influenced by President Trump and emphasized the importance of monetary policy independence.

Proof-of-stake blockchains like Ethereum and Solana may face quantum computing threats due to vulnerabilities in their cryptographic signatures, as highlighted in a report by Coinbase's Independent Advisory Board. The report emphasizes the importance of preparing for a cryptographic transition before it becomes critical.

Revolut, a fintech firm, plans to achieve a $200 billion valuation upon going public, a significant increase from its previous valuation of $75 billion. The company's revenue hit $6 billion last year, with a 46% year-over-year increase in profits.

Polymarket and Kalshi are considering adding perpetual futures trading to their platforms, expanding beyond basic bets on politics and sports. Polymarket users may soon trade with at least 10x leverage on assets like gold, stocks, and Bitcoin.

Tether's market cap has surged to an all-time high following recent DeFi hacks, with analysts predicting potential pressure on USDC's circulation. Circle faces scrutiny and a class action lawsuit for alleged failure to freeze funds during the exploit.

Lawsuits were filed by New York against Coinbase and Gemini for allegedly violating state gambling laws with prediction markets. The legal action targets sports, entertainment, and political wagers, criticizing the platforms for allowing underaged gambling.

MoonPay, the Dogecoin Foundation, and House of Doge donated 1 million DOGE to the AKC Humane Fund, supporting dog welfare causes in the United States. This partnership enables ongoing crypto donations through MoonPay's payment infrastructure.

Pornhub has switched from using tether (USDT) to Circle-issued USDC for payouts, citing the latter as a more reliable and secure stablecoin option. The adult website made the change to USDC to enhance the stability of earnings for content creators.