Crypto scams surged to $9.3B in losses, targeting seniors with fake exchanges & pig butchering. Learn key takeaways from the latest FBI IC3 report.

An IC3 report shows crypto investment fraud ballooned, with over $2.8 billion lost by victims aged 60 and older. Total losses hit $9.3 billion after rising 66% year-over-year.

The FBI's latest report unveils a dramatic rise in online scams, with $16.6 billion lost in 2024. This alarming figure highlights the growing threat of cybercrime, particularly targeting older Americans and involving cryptocurrencies.

In short the U.S. banking landscape has proven to be difficult, if not outright hostile, to crypto-native institutions, but this has not stopped innovation and the creativity in the space. As this outlook continues to pivot to a more hospitable one, let’s take a look at what this means for crypto investors going forward.

U.S. banking regulators announced on Thursday they were pulling back several documents that urge banks to show caution when dabbling in cryptocurrency and related activities. The Federal Reserve said

The Federal Reserve said it was withdrawing documents stipulating that banks should seek advance approval before engaging in crypto activities.

Nearly two dozen crypto wallets acquired more than 100,000 $TRUMP meme coins, worth roughly $100 million, after the team said top buyers could join the president for dinner.

The value of Trump’s meme coin has seen a huge value increase as he prepares to host two special events for its top investors. Crypto trading platform Coinbase revealed that ‘$Trump’ soared after he announced that 220 of its biggest holders will be invited to a private gala dinner on May 22.

The value of President Donald Trump’s meme coin soared Wednesday after a website promoting it announced that some holders of the coin would receive an invitation to a private dinner with Trump – in a stark illustration of his family’s drive to profit off cryptocurrency while he serves in the White House.