In 2024, Ethereum pig butchering scams have emerged as the top crypto fraud, with losses reaching a staggering $3.6 billion. This type of scam involves fraudsters gaining the trust of victims before convincing them to invest in fake cryptocurrency schemes. Meanwhile, Solana co-founder Stephen Akridge faces allegations of misappropriating his ex-wife’s crypto gains, adding to the industry’s woes. On a brighter note, Bitcoin ETFs have seen a significant influx of $475 million, showcasing investor interest despite the regulatory challenges. The Treasury and IRS have finalized broker rules for DeFi, mandating KYC compliance from protocols. Elon Musk’s SpaceX has adopted stablecoins to hedge against foreign exchange risks, highlighting their utility in corporate finance. Additionally, Push Protocol has launched Push Chain, aiming to streamline blockchain communication and transactions.
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