Welcome to the OLE777 – Asia 1st Multiplatform Crypto Gaming in the Daily Crypto section. Today, the writer will highlight the most popular news in the crypto industry: Bitcoin and XRP are leading the cryptocurrency market, Japan authorities arrested Yuta Kobayashi and his group for laundering money using Monero in a credit card fraud scheme, and EU has launched the “Trusted Investors Network” to attract venture capital.

Let’s read to the details!

Bitcoin and XRP Leading The Market

Bitcoin and XRP are two leading cryptocurrencies featured in CoinShares’ recent report on crypto investment flows. The report highlights a massive $2.2 billion inflow into U.S.-based crypto investment products, the highest since July. 

While the U.S. saw strong inflows, other regions experienced outflows. Analyst James Butterfill links this U.S. focus to upcoming political events in November. Bitcoin leads the inflows, capturing 97% of the funds. However, XRP also shows steady growth, with inflows into XRP-focused products continuing for weeks. Since the start of the year, $26 million has been invested in XRP ETPs. 

This growing interest has prompted Bitwise and other players to seek approval for new XRP ETFs, signaling rising demand for such financial products.

Read more: Report: 76% of Wealthy Individuals in Asia Invest in Cryptocurrency

A Japanese Fraud Group Arrested for Laundering Money Using Crypto

Yuta Kobayashi, 26, was arrested in Japan for allegedly laundering money using Monero, a privacy-focused cryptocurrency, in connection with a ¥100 million ($665,800) credit card fraud. 

The investigation, led by Japan’s Cyber Special Investigation Division, revealed that Kobayashi and his group used stolen credit card details to make around 900 fake transactions between June 2021 and January 2022.

The group created fraudulent listings on platforms like Mercari and obscured the money trail using Monero. Investigators traced these transactions, marking the first time such a method led to an arrest in Japan. Kobayashi’s team reportedly gained stolen information through phishing scams and recruited members through social media, offering “illegal part-time jobs.” Communication was encrypted, complicating the investigation.

Read more: ETFSwap: Claim Profits Go Up 1,000%, Will Beat Solana and Cardano?

European Union Introduced “Trusted Investors Network”

The European Union is ramping up efforts to attract more venture capital into its tech industry to stay competitive with the U.S. and China. On Oct. 21, EU Commissioner Iliana Ivanova introduced the “Trusted Investors Network” during a meeting with Greek Prime Minister Kyriakos Mitsotakis. This initiative is designed to support tech startups and boost investments, especially in biotechnology and AI-related semiconductors.

So far, 71 investors have pledged over €90 billion to this project, which aims to strengthen Europe’s deep-tech sector. Ivanova emphasized the importance of co-investment to drive innovation in a series of posts on X.

Greece, a growing player in tech, recently launched its first cargo drone airline and will open a $330-million AI data center. Additionally, the Greek government has formed an AI advisory committee to guide the nation’s tech strategy.