Over 104 million US dollars flowed out of the US spot BTC ETF market

[Decrypt: UK Police Return Over $5 Million in Crypto Scam Funds] Manchester police in the UK successfully cracked an international cryptocurrency scam case and returned over $5 million to victims. The case involved global-scale fraudulent activities, with police recovering approximately £4 million (equivalent to $5 million). This move marks significant progress by law enforcement in combating cryptocurrency-related crimes. (Decrypt)

[Philippine Blockchain Budget Bill Sparks Controversy, Risks of Centralization and Data Control Under Scrutiny] The Philippine Senate is currently reviewing Senate Bill 1330, also known as the 'National Budget Blockchain Act,' which aims to use blockchain technology to track and make government budget transactions public, with an initial allocation of approximately $8.6 million. The bill was proposed in response to President Marcos' anti-corruption efforts regarding irregularities in the $9.2 billion public works budget. However, legal experts, including former Solicitor General Florin Hilbay and Geronimo Law attorneys, have warned that the proposal may limit transparency due to issues of blockchain centralization and private contractors' control over data, potentially leading to risks of 'vendor lock-in.' The Philippine Fintech Lawyers Association has recommended that the government retain data ownership and adopt open-source technology to ensure data portability and system flexibility.

[Lightspark Launches Grid API to Support Bitcoin Cross-Border Payments] Lightspark has released the Grid API, providing banks and developers with a real-time Bitcoin cross-border payment solution. The platform supports instant payments in 65 countries and enables real-time fund transfers between fiat currencies, stablecoins, and Bitcoin.

[Decrypt: Stablecoins Could Attract $1 Trillion in Deposits Out of Banks] Standard Chartered analysts predict that stablecoins may attract approximately $1 trillion in deposits from emerging market banks over the next three years. The analysis points out that the low cost and high efficiency of stablecoins make them competitive in the global payments market. Visa also believes that stablecoins have the potential to enter the $40 trillion credit market, though regulatory and technical challenges still need to be addressed. (Decrypt)

[Whale Address Adds 699 BTC and 19,900 ETH, Total Holdings Reach $158 Million] Address 0xc2a3 continues to accumulate BTC and ETH, with total holdings now valued at $158 million. This includes 699 BTC (approximately $77.6 million) and 19,900 ETH (approximately $80.3 million). The address has been actively increasing its positions recently, indicating strong long-term confidence in the two major crypto assets. (Lookonchain)