CFA Report Pegs US Crypto Fraud Losses at $80.7B

BitMine Immersion Technologies reported a net loss of $3.81 billion in the last quarter, mainly due to unrealized losses from its Ethereum holdings. The firm's losses over a six-month period exceeded $9 billion, impacting its financial results significantly.

eToro has acquired Zengo for $70 million, merging 40 million users with Zengo's secure wallet technology. The deal combines eToro's trading infrastructure with Zengo's MPC cryptography, serving over 2 million users globally since 2018.

Pakistan has lifted its ban on banks providing crypto services, aligning with the Virtual Assets Act of 2026. Banks can now offer services to registered Virtual Asset Service Providers, keeping VASP funds separate from standard client accounts to comply with anti-money laundering regulations.

High Roller Technologies' shares surged over 80% after partnering with Crypto.com Derivatives North America to launch a prediction markets offering. The CEO views this as a strategic growth opportunity in a sector projected to reach $1 trillion in annual trading volumes by 2030.

The proposed Bitcoin upgrade, BIP-361, aims to phase out existing signature schemes and freeze coins not migrated to quantum-resistant addresses. It introduces a three-phase timeline to enhance network security against potential quantum attacks.

The impasse over stablecoin issuance in South Korea continues as Circle CEO Jeremy Allaire states the firm won't launch a won-pegged stablecoin. USD Coin trading is thriving on South Korean exchanges, with Allaire expressing interest in establishing a South Korean branch if regulations allow.

Senator Elizabeth Warren expressed concerns about Elon Musk's X Money launch, citing risks to consumers, financial stability, and national security. She highlighted issues with X's operations, including potential partnerships with entities facing enforcement actions.

Bitcoin 2026's speaker list includes promoters of various altcoins, despite the event being marketed as focused on Bitcoin. Many speakers have endorsed digital assets like Ethereum, Tron, and others, some of which have seen significant declines in value.

Legislation signed by Virginia Governor Abigail Spanberger updates unclaimed property rules to include digital assets, requiring dormant crypto to be held for at least one year before sale. The law aligns Virginia with other states in preventing automatic conversion of dormant crypto to cash.

In the past 24 hours, 572 bitcoins worth $42.77 million were transferred from a Gemini hot wallet to wallets owned by Winklevoss Capital and custody wallets. Winklevoss Capital now holds 9,328 BTC worth $689 million across 128 tracked addresses, with 70,588 ETH worth $163.7 million in its portfolio.