Spot Bitcoin exchange-traded funds (ETFs) have seen their longest run of daily net outflows since they were launched at the beginning of the year, reflecting a broader investor retreat from risk assets.

Japanese investment firm Metaplanet has announced the purchase of an additional 38.464 Bitcoin valued at around 300 million yen ($2 million), bringing its total BTC holdings to 398.832 coins, worth around 3.75 billion yen.

Investors fell victim to a record $5.6 billion in crypto-related financial crimes in 2023, a 45% increase from the previous year, according to a new report from the Federal Bureau of Investigation's (FBI) Internet Crime Complaint Center.

Top stories in the Crypto Roundup today:

• Spot Bitcoin ETFs See $1.2 Billion Exodus in Eight Days
• Japanese Investment Firm Metaplanet Boosts Bitcoin Reserves With $2 Million Purchase
• Crypto Investors Lost $5.6 Billion to Fraud in 2023: FBI Report

Spot Bitcoin ETFs See $1.2 Billion Exodus in Eight Days

Spot Bitcoin exchange-traded funds (ETFs) have seen their longest run of daily net outflows since they were launched at the beginning of the year, reflecting a broader investor retreat from risk assets.

In total investors pulled nearly $1.2 billion out of the 12 spot Bitcoin ETFs listed in the United States in the eight days ending September 6, after mixed US jobs data and deflationary pressure from China saw traders hedge their bets.

Bitcoin’s price plunged to a low of under $53,000 at the beginning of September before recovering, now trading at $57,300. The cryptocurrency traded above $64,000 late last month.

According to Sean McNulty, director of trading at liquidity provider Arbelos Markets, the recent price increase may be partly attributable to prominent influencers closing out their short positions, citing a social media post by Arthur Hayes, co-founder of BitMEX, as an example.

Additionally, McNulty suggested that improved polling for pro-crypto Republican presidential nominee Donald Trump could be contributing to the rally. He noted increased demand for options hedges ahead of Tuesday's debate with Democratic nominee Vice President Kamala Harris who hasn’t detailed her crypto stance.

Japanese Investment Firm Metaplanet Boosts Bitcoin Reserves With $2 Million Purchase

Japanese investment firm Metaplanet has announced the purchase of an additional 38.464 Bitcoin valued at around 300 million yen ($2 million), bringing its total BTC holdings to 398.832 coins, worth around 3.75 billion yen.

Metaplanet has been actively accumulating the cryptocurrency in recent months, motivated by concerns surrounding the Japanese economy's challenges, including high government debt, negative interest rates, and a weak yen. The company's decision to adopt Bitcoin as a strategic treasury reserve asset comes in a bid to mitigate these risks.

In addition to its BTC purchases, Metaplanet has also been exploring ways to leverage its digital asset holdings. It recently announced a partnership with SBI VC Trade, a subsidiary of SBI Group, to access corporate custody services and potentially utilize Bitcoin as collateral for financing.

While Metaplanet continues to expand its Bitcoin holdings, Nasdaq-listed business intelligence firm MicroStrategy remains the undisputed leader in corporate BTC ownership with 226,500 BTC in its treasury.

Crypto Investors Lost $5.6 Billion to Fraud in 2023: FBI Report

Investors fell victim to a record $5.6 billion in crypto-related financial crimes in 2023, a 45% increase from the previous year, according to a new report from the Federal Bureau of Investigation's (FBI) Internet Crime Complaint Center.

Investment fraud was the most prevalent and costly type of crypto-related crime, accounting for nearly half of the 69,000 reports received by the FBI. Investment scammers netted a staggering $4 billion, making up roughly half of the total losses reported by victims.

The report details that while cryptocurrency crime only made up around 10% of the complaints, it represented roughly half of the overall losses by complainants. It notes that “confidence-related” schemes, often referred to as “pig butchering” over long periods of time, were the most prominent.

In pig butchering schemes, fraudsters take advantage of their victims by forming relationships with them, often through messaging apps, before encouraging them to invest in fraudulent cryptocurrency platforms they are then not able to withdraw from.

Many victims of these scams have incurred substantial debt to cover their losses, according to the FBI’s report. An investigation by ProPublica, corroborated by the United Nations and others, has revealed many of these scammers are victims themselves, held captive by "pig butchering" gangs in Southeast Asia and forced to carry out fraudulent activities.

The FBI's report warns U.S. citizens travelling abroad about the risk of false job advertisements linked to labor trafficking. These advertisements are often used to lure individuals into scam compounds where they are held against their will and forced to participate in fraudulent schemes.

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