CFA Report Pegs US Crypto Fraud Losses at $80.7B

Bitcoin's climb to $76,000 is met with resistance as exchange inflows spike, indicating large holders preparing for distribution. The on-chain realized price of $76,800 historically acts as a bear market resistance level, triggering significant drops in the past.

At Paris Blockchain Week, Blockstream CEO Adam Back proposed optional quantum-resistant Bitcoin upgrades, contrasting with a group of developers advocating for a mandatory freeze on quantum-vulnerable Bitcoin. The debate reflects a deepening split among Bitcoin developers on how to address the looming threat of quantum computing.

Nomura's survey reveals that nearly 80% of institutional investors plan to allocate 2-5% of assets into cryptocurrencies, focusing on DeFi and stablecoins. The report emphasizes the importance of clear regulations, security, and risk management for expanding crypto investments.

South Korea's Ministry of Economy and Finance will test blockchain-based deposit tokens for government spending in the fourth quarter to modernize public fund management. The pilot, approved under a 2026 regulatory sandbox program, aims to improve oversight and reduce transaction fees for small businesses.

Momentum is growing in Washington for the Clarity Act, with JPMorgan indicating progress in negotiations. Lawmakers and regulators are close to finalizing the legislation, addressing issues like stablecoin rewards and DeFi oversight.

The Sentinel Action Fund, supported by the Solana Policy Institute, plans to spend $8 million on Jon Husted, the Republican candidate opposing former Senator Sherrod Brown in the Ohio Senate election. The PAC, funded by various sources including the Solana Institute and Multicoin Capital, aims to influence the outcome of the election.

World Liberty Financial's governance proposal outlines a four-year vesting schedule for early supporters, subject to a two-year cliff and two-year vesting period. The proposal also includes a five-year vesting schedule for founders, team members, advisors, and partners.

An AI-produced movie titled "Bitcoin: Killing Satoshi" is set to feature a star-studded cast and a $70 million budget, with AI tools assisting in the production. The film, shot inside a former car showroom, uses AI for settings and lighting while real actors perform without alteration.

Fellowship PAC, backed by $11 million, has spent $3 million on political ads through a company co-founded by Tether US CEO Bo Hines. The super PAC supports Republican candidates and received funding from Cantor Fitzgerald and Anchorage Digital.

Tether recently added $70 million worth of Bitcoin to its reserves, following a strategy of accumulating BTC tied to its stablecoin business. The wallet now holds 97,141 BTC, making Tether one of the largest Bitcoin holders globally.