[News Brief] Apr 22, morning | U.S. DOJ Seizes Over $700 Million in Cryptocurrency in Crackdown on Southeast Asian Fraud Ring

U.S. Spot Bitcoin ETFs Record Net Inflows for Seven Consecutive Trading Days

As of April 23 (U.S. Eastern Time), U.S. spot Bitcoin ETFs posted total net inflows of $223 million, extending their streak to seven consecutive trading days of net inflows.

According to Odaily, BlackRock’s IBIT saw the largest inflow of the day at $167 million. It was followed by ARK Invest and 21Shares’ ARKB, which recorded net inflows of $71.22 million.

Meanwhile, Fidelity’s FBTC saw net outflows of $16.92 million.

Total net assets in spot Bitcoin ETFs currently stand at $102.793 billion. The ETF net asset ratio is equivalent to 6.59% of Bitcoin’s total market capitalization, while cumulative net inflows have reached $58.213 billion.

Institutional capital has continued flowing into spot Bitcoin ETFs recently. Market participants view the sustainability of inflows led by major asset managers as a key variable in Bitcoin’s supply-demand dynamics.

Tether Minted 3 Billion USDT Over the Past Week

Tether minted 3 billion USDT over the past week, Odaily reported on April 24.

According to Lookonchain, Abraxas Capital received 2.89 billion USDT from the Tether Treasury during the same period. Large-scale stablecoin issuance and transfers are typically interpreted as signals of expanding market liquidity.

Morgan Stanley Launches Stablecoin Reserve Portfolio

Morgan Stanley has launched a stablecoin reserve portfolio designed to support reserve holdings for stablecoin issuers.

On April 24, PANews, citing Cointelegraph, reported that the product was structured as a government money market fund in accordance with the proposed GENIUS Act. Its core purpose is to help stablecoin issuers manage reserves using more institutional-grade assets.

The launch comes amid ongoing discussions around stablecoin regulation in the United States. With a major traditional financial institution directly introducing related infrastructure, some observers believe the institutionalization of the stablecoin market could accelerate further.

U.S. DOJ Seizes Over $700 Million in Cryptocurrency in Crackdown on Southeast Asian Fraud Ring

The U.S. Department of Justice seized more than $700 million worth of cryptocurrency during a crackdown on a Southeast Asian fraud ring, PANews reported on April 24.

According to PANews, the FBI’s fraud task force charged two Chinese nationals accused of operating scam compounds in Myanmar and shut down 503 Telegram channels and scam websites.

The indicted individuals, Huang Xingshan and Zhang Wenjie, allegedly served as managers of the Shunda scam compound in Myawaddy, Myanmar, where trafficked workers were forced to run fake investment platforms targeting Americans.

After Myanmar’s military shut down the compound, they reportedly moved their operations to Cambodia and were later arrested in Thailand.

The task force also shut down a Telegram recruitment channel with more than 6,000 followers. The channel allegedly lured people to Cambodia with promises of high-paying jobs, then forced them to participate in scams while impersonating JPMorgan Chase customer service staff, New York police officers, and others.

In addition, the FBI’s ‘Operation Level Up’ identified and notified 8,935 victims of cryptocurrency investment fraud, helping prevent an estimated additional $563 million in losses, PANews said.

Wisconsin Files Lawsuit Against Prediction Market Services Including Coinbase and Polymarket

The state of Wisconsin has filed lawsuits against Kalshi, Coinbase, Polymarket, Robinhood, and Crypto.com. State authorities argue that their prediction market services constitute unlicensed gambling operations under Wisconsin law.

According to PANews on April 24, citing CoinDesk, Wisconsin’s justice authorities said the platforms’ event contracts meet the legal definition of gambling under state law. The attorney general stated that “a flimsy disguise cannot legalize illegal activity.”

The lawsuit cites Kalshi’s description of itself as “America’s first legal sports betting platform” and Polymarket’s explanation that users can bet on the outcome of future events as supporting evidence.

The key issue in the case is whether these contracts are financial products regulated by the U.S. Commodity Futures Trading Commission (CFTC) or bets subject to state gambling laws. Similar positions have previously been taken by states including Nevada and New York, and some believe the dispute could eventually reach the Supreme Court.

DeFiLlama: RWA Market Cap Grew From $4.1 Billion to $25.2 Billion in Just Over a Year

According to DeFiLlama analysis, the market capitalization of the active real-world asset (RWA) sector grew from $4.1 billion to $25.2 billion in just over a year.

panewslab.com, citing Cointelegraph, reported that the growth was driven primarily by the expansion of tokenized funds, commodities, and private credit.

RWA refers to the tokenization of traditional financial assets so they can be traded on blockchain networks. The sector has recently expanded rapidly alongside increased institutional participation.

White House: Trump to Speak at Florida Crypto Conference on Saturday

The White House said President Trump is scheduled to speak at a cryptocurrency conference in Florida on Saturday.

On April 24, PANews cited Jinse as reporting the development. With a U.S. president publicly scheduled to address a crypto-related event, the market is paying close attention to potential policy signals.

Trump has previously expressed a crypto-friendly stance, and attention is now focused on whether he will comment on regulation or industry development in his upcoming remarks.

U.S. Treasury’s OFAC Sanctions Cambodian Senator and Others Linked to Crypto Investment Scams

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions against Cambodian senator Kok An. Authorities believe Kok An controlled a nationwide network of so-called scam compounds that stole funds from American victims through cryptocurrency investment fraud.

According to Odaily, OFAC also added 28 individuals and entities believed to be linked to Kok An’s scam network to its sanctions list. They are accused of luring victims into sending cryptocurrency under the pretense of high-return investments.

The action came shortly after Cambodian police raided scam operation hubs in the border city of Poipet. Kok An had previously faced allegations of operating scam compounds in the area.

OFAC said the fraudsters often built trust by posing as friends or romantic partners before steering victims to fake cryptocurrency investment platforms. Reported losses tied to the scheme amount to millions of dollars.

Authorities added that some participants were victims of human trafficking who were coerced into the operations through violence and intimidation. These networks allegedly used casinos and converted office facilities as bases for money laundering, scams targeting U.S. citizens, and human rights abuses.

Regulators also seized more than 500 fake website domains used in cryptocurrency investment scams. The moves are seen as part of a broader intensification of U.S. enforcement against related crimes.

Metaplanet Issues ¥8 Billion in Zero-Interest Ordinary Bonds to Buy More Bitcoin

Japanese Bitcoin treasury company Metaplanet announced that it will issue ¥8 billion in zero-interest ordinary bonds to fund additional Bitcoin purchases.

According to Odaily, the company plans to use the proceeds to acquire more Bitcoin. Metaplanet has recently continued expanding its holdings as part of a treasury strategy centered on Bitcoin.

Cynthia Lummis: Bipartisan Support Forming in Congress for Crypto Market Structure Bill

U.S. Senator Cynthia Lummis said bipartisan support is forming in Congress to advance a digital asset market structure bill.

According to @WatcherGuru, Lummis said both Democrats and Republicans are rallying behind efforts to move forward with crypto market structure legislation.

Such legislation typically aims to clarify oversight authority, trading rules, and registration frameworks for digital asset businesses. Progress on the bill could strengthen expectations for reduced regulatory uncertainty in the United States.