CFA Report Pegs US Crypto Fraud Losses at $80.7B

Mercado Libre quietly discontinued its ERC-20 loyalty token, Mercado Coin, after four years, offering users options to sell, spend, or auto-convert it to local fiat. The company did not provide a reason for the decision, which was announced through its Mercado Pago wallet.

A critical vulnerability in Zcash nodes could have allowed malicious miners to drain over 25,000 ZEC from the network's Sprout pool, valued at $6.5 million. The bug, disclosed by Alex "Scalar" Sol, was swiftly patched by developers to ensure user funds' safety.

XRP exchange-traded funds have been trading actively despite the cryptocurrency's price decline. Ripple's legal settlement and ETF investments have not boosted XRP's value significantly, remaining 64% below its peak.

Tether's USAT stablecoin has expanded to the Celo blockchain, offering regulated digital dollar infrastructure beyond Ethereum. With Google Cloud's support, USAT aims to serve as a gas currency on Celo's layer-2 network, enhancing financial access globally.

The Lido DAO is considering a buyback proposal to address the plummeting price of its token, LDO, which hit an all-time low of $0.27. Despite being the second-largest protocol on Ethereum with significant user deposits and revenue, LDO's value remains a concern for investors.

Standard Chartered has observed a doubling in stablecoin velocity over the past two years, prompting a reevaluation of its market forecast. Geoff Kendrick, the bank's global head of digital assets research, notes that higher velocity may impact the need for coins in transactions. Despite this, Kendrick maintains the bank's $2 trillion market cap forecast for stablecoins by 2028.

Charles Hoskinson warns that the proposed U.S. crypto legislation may take over a decade to implement, potentially disadvantaging new entrants while benefiting established cryptocurrencies. He criticizes the current regulatory environment, stating that new projects are treated as securities by default, hindering their growth.

Benchmark analysts initiated coverage of Cantor Equity Partners II, giving a "Buy" rating due to its upcoming merger with Securitize. Securitize is seen as a key player in tokenization, with a projected $16 price target based on future revenue streams and partnerships.

Nakamoto Holdings sold $20 million worth of Bitcoin to enhance its financial position, resulting in a stock drop Tuesday to an all-time low price. Despite losses, the firm maintains a Bitcoin treasury of 5,342 BTC valued at $359 million.

XRP influencers hyped a non-existent partnership between American Express (AmEx) and XRP, despite AmEx's recent NFL sponsorship having no connection to Ripple or its blockchain. This false narrative has been recycled for years, with influencers misleading followers with outdated information and false promises.