Crypto Roundup: Aave Slides on WLFI Rumors, $50M Crypto-to-Gold Laundering Bust, IRS Digital-Assets Chief Steps Down

Here’s a concise look at the latest developments moving crypto markets and policy: Aave’s token dropped sharply after social-media rumors about a World Liberty Financial allocation, Thai authorities arrested a suspect in a large crypto-to-gold laundering operation, and the head of the IRS digital assets team has resigned after a short tenure.

Aave token tumbles amid WLFI allocation chatter

The Aave governance token plunged, falling more than several percentage points on reports that a proposed allocation from DeFi platform World Liberty Financial (WLFI) might not go ahead as previously described. Social-media posts from a reporter relaying WLFI spokespersons’ comments that the deal was “fake” triggered a steep sell-off that erased roughly $30 from the token’s price before it later recovered some losses.

The story ties back to an October 2024 WLFI community proposal that outlined a potential arrangement giving AaveDAO a stake in WLFI’s circulating supply and a share of platform revenue. The episode underscores how quickly market sentiment in DeFi can shift when institutional or large-scale allocation details are questioned.

Thai police arrest suspect in $50 million crypto-to-gold laundering case

Thai law-enforcement officers detained a 33-year-old South Korean man at Bangkok’s Suvarnabhumi Airport in connection with an investigation into a call-center fraud network that allegedly converted stolen cryptocurrency into gold worth more than $50 million.

Authorities say the wider scheme began in early 2024, when victims were lured into fake investment opportunities promising unusually high returns. Initial payouts created trust, but as deposits increased the operation allegedly blocked withdrawals and accused investors of failing to meet conditions. The probe has already produced multiple arrests, including alleged launderers and mule-account holders.

IRS digital-assets leader resigns after three months

Trish Turner has stepped down from her role leading the IRS’s digital assets division after roughly three months on the job. In a public message she expressed appreciation for her two decades of service at the agency and said she looks forward to continuing work on digital-asset issues from a new position.

Reports indicate Turner will move to a role in the private sector as a tax director at a crypto-focused tax firm. Her departure highlights ongoing movement between regulatory bodies and industry as governments and companies adjust to the mainstreaming of digital assets.

Editor’s note: These developments reflect a range of market, enforcement, and regulatory activity affecting cryptocurrencies, DeFi and broader digital-asset policy. If you’d like, I can produce a shorter bulletin, a tweet-sized summary, or expand any item into a full-length article.