Hey Crypto Fam!
We’re in the final days of June, and about to call it a wrap for the first half of 2025. As always, we’ve got this week’s biggest stories lined up for you. Catch up on all the action and stay informed!
Biggest Story
U.S. Recovers $225M in USDT from Crypto Scam with Help from Coinbase
In one of the largest crypto recoveries in U.S. history, Coinbase assisted the Secret Service in tracing and recovering $225 million in USDT linked to global “pig butchering” scams. During a four-day operation in February 2024, Coinbase provided blockchain analytics and subpoena support, which helped identify over 130 users who were unknowingly involved in fraudulent transfers.
The scam, tied to criminal networks in Southeast Asia, exploited victims through fake online relationships. Tether froze and later burned the stolen funds, reissuing them to a Secret Service-controlled wallet.
Other News Making Waves
- Michael Zidell has sued Citibank for negligence, alleging it enabled a $20 million crypto romance scam by failing to flag suspicious transfers in a major pig butchering case. (More)
- World Liberty Financial, tied to Donald Trump, will release USD1’s first audit and a mobile app for retail users, pushing stablecoin transparency amid $2.2B market cap growth. (More)
- Bit Digital has filed confidential IPO plans for its HPC arm, WhiteFiber, while investing in Auros Global to boost Ethereum-native operations and algorithmic trading capabilities. (More)
- Coinme has been fined $300K by California for violating crypto ATM laws, including exceeding daily limits and failing to provide proper disclosures, amid a spike in elderly-targeted scams. (More)
- The IMF’s Bo Li warns that a lack of global consensus on stablecoin classification threatens regulatory clarity, urging nations to define whether stablecoins are currencies or financial assets. (More)
- The Cork Protocol exploiter has resurfaced, laundering over $11 million through Tornado Cash and donating 10 ETH to its developer defence fund, complicating recovery efforts. (More)
- Anthony Pompliano’s ProCap is going public in a $750M SPAC deal, aiming to hold $1B in Bitcoin and become the eighth-largest BTC-holding public company. (More)
- Trump Media has approved a $400M stock buyback while reaffirming plans to build a $2B+ Bitcoin treasury and launch crypto ETFs, sparking political backlash. (More)
- ETH whales are betting big on a rebound despite Middle East tensions, with one investor opening a $101M long and another withdrawing $40M from Binance. (More)
- Binance founder CZ has warned of rising phishing attacks after Cointelegraph and CoinMarketCap were breached with fake pop-ups targeting users’ crypto wallets. (More)
Around the World: Bold Moves and Crypto Regulations
- Arizona has passed a bill to create a Bitcoin reserve fund using seized crypto assets, aligning with federal efforts to treat Bitcoin as a long-term strategic store of value. (More)
- Texas has become the first U.S. state to launch a Bitcoin reserve, investing $10 million in BTC and signalling growing state-level integration of crypto into public finance. (More)
- Senator Adam Schiff has introduced the COIN Act to bar U.S. officials, including the President, from launching or profiting from crypto ventures while in office. (More)
- Japan’s FSA has proposed reclassifying crypto as financial products, paving the way for ETFs and a flat 20% tax rate, amid rising retail and institutional participation. (More)
- Turkey has unveiled strict crypto rules mandating detailed transaction data, transfer delays, and stablecoin limits to combat illicit finance and enhance oversight. (More)
- The U.S. Federal Reserve will stop using “reputational risk” to assess banks, removing a barrier long criticized by crypto firms and easing access to banking services. (More)
- Hong Kong will soon issue its first stablecoin licenses under a new ordinance, with firms such as JD.com and Ant Group among the early applicants, eyeing cross-border use cases. (More)
Market Trends: Winners and Losers
Top 5 Gainers ????
According to data from CoinGecko, the five biggest gainers of the week are:
- HashKey Platform Token +72.5%, from $0.348112 to $0.600549
- FUNToken +86.3%, from $0.00537028 to $0.01000848
- Useless Coin +47.6%, from $0.091637 to $0.135220
- TAGGER +67.7%, from $0.00018954 to $0.00031790
- Banana For Scale +48.7%, from $0.00551547 to $0.00820226
Top 5 Losers ????
According to data from CoinGecko, the five biggest losers of the week are:
- Matchain -57.2%, from $1.16 to $0.496505
- Siren -58.4%, from $0.113780 to $0.04738897
- Status -25.5%, from $0.03584487 to $0.02672796
- BabyBoomToken -14.0%, from $0.621532 to $0.534498
- MIU -30.2%, from $0.000000056098 to $0.000000039143
Project Spotlight
Telegram Enables In-App TON Staking to Mainstream Passive Crypto Income
Telegram has rolled out a native staking feature that allows users to earn rewards by staking TON tokens directly through its official wallet. Built on The Open Network, this integration offers institutional-grade yields without requiring external wallets or exchanges. By simplifying DeFi access for its massive user base, Telegram empowers everyday users to earn passive income while supporting blockchain security.
Why It Matters:
This move lowers the barrier to DeFi participation, turning a popular messaging app into a powerful gateway for mainstream crypto adoption and blockchain engagement.
Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.
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