Binance Square
Cointelegraph
36.3k Publicaciones

Cointelegraph

Verificado Plus de Binance Square
Cointelegraph covers fintech, blockchain and Bitcoin, bringing you the latest news and analyses on the future of money.
2 Siguiendo
186.0K+ Seguidores
566.3K+ Me gusta
1 Insignias
Publicaciones
·
--
Crypto’s first quantum attack will look like an unexplained breach: Quantus founderThe first sign that quantum computing has broken modern cryptography probably won’t be a splashy theft of Satoshi Nakamoto’s dormant Bitcoin. It could just be a wave of unrelated crypto wallet breaches with no trace of how an attacker did it, according to the founder of blockchain startup Quantus.  “When someone cracks your key, you don’t get a memo saying how they did it,” Christopher Smith, CEO and co-founder of Quantus Network, told Cointelegraph. A sufficiently powerful quantum computer could derive a private key from public keys exposed onchain, allowing an attacker to move funds without compromising a wallet, device or exchange’s internal systems.  This makes the arrival of “Q-day” — a hypothetical future moment when quantum computers become powerful enough to break standard public-key cryptography — unusually difficult to detect. In a theft involving a highly secure organization, “the only forensic evidence would be that there was no breach,” Smith said. Smith’s warning comes as advances in quantum algorithms have reduced estimates of computing resources needed to attack the elliptic-curve cryptography used by major blockchains.  First target may not be Satoshi’s Bitcoin  Much of the fear around Q-day in crypto is what will happen if a quantum computer cracks the keys securing Satoshi Nakamoto’s estimated Bitcoin holdings, worth $63 billion at the time of writing, which could be suddenly dumped on the market. However, Smith said the first targets may be military systems and state secrets, while crypto attackers could go for even more valuable keys.  “If I’m focusing on blockchain, what’s the single most valuable key? It’s probably Tether’s minting key,” Smith said. A quantum attacker could mint tokens out of thin air from an administrative wallet and dump them on the market before the issuer could respond, he added. USDT is a multi-chain stablecoin, and some of the networks on which it is deployed are already actively working on post-quantum migration.  Another theory is that attackers make a quieter opening move. Sean Cheetham, a security researcher at Blockchain Capital, said an attacker would more likely target hot wallets at exchanges “that aren’t going to ring alarm bells rather than stealing Satoshi’s coins.” Smith said an attacker may disguise a quantum theft as an ordinary compromise. “There’s an alternative scenario where they… have these plausible, deniable [explanations]: ‘Oh, somebody just lost their keys somehow,’” he said. Q-day timeline hard to pin down In March, Google accelerated its post-quantum migration timeline to 2029 as an AI-assisted breakthrough showed elliptic curve cryptography can be cracked with far fewer physical qubits than previously forecasted. NGRAVE CEO Roy Blackstone said earlier quantum forecasts failed to account for the parallel development of AI.  “Most threat models assumed we had well into the next decade before quantum technology could realistically crack the cryptography securing public keys, but it did not account for how fast AI would develop alongside it.” Despite growing urgency, there is little agreement on when a quantum computer capable of breaking modern cryptography will be ready. Smith, whose company is developing a blockchain network aiming to be quantum-resistant from launch, said there was a “50-50” chance it could happen by 2028, arguing that continued AI-assisted improvements in quantum algorithms and hardware research are making forecasts less reliable.  Cheetham said the early 2030s “definitely is almost a certainty” and that an earlier arrival was “more of a trailing probability.”  Michael Coates, the Solana Foundation’s chief information security officer, declined to give an estimate during an earlier interview, saying “there’s no way to know.”  “If you talk to people in the industry, it is always five years away, and it’s been that way for 10 years or more now. Perhaps today people say it’s four years away,” he said. But the uncertainty is not a reason to delay, he added. “Thankfully, blockchains aren’t waiting and have started migrating to post-quantum signatures,” said Blackstone. “The damage would be catastrophic if they didn’t.” Magazine: How AI just dramatically sped up the quantum risk for Bitcoin

Crypto’s first quantum attack will look like an unexplained breach: Quantus founder

The first sign that quantum computing has broken modern cryptography probably won’t be a splashy theft of Satoshi Nakamoto’s dormant Bitcoin. It could just be a wave of unrelated crypto wallet breaches with no trace of how an attacker did it, according to the founder of blockchain startup Quantus.
“When someone cracks your key, you don’t get a memo saying how they did it,” Christopher Smith, CEO and co-founder of Quantus Network, told Cointelegraph. A sufficiently powerful quantum computer could derive a private key from public keys exposed onchain, allowing an attacker to move funds without compromising a wallet, device or exchange’s internal systems.
This makes the arrival of “Q-day” — a hypothetical future moment when quantum computers become powerful enough to break standard public-key cryptography — unusually difficult to detect. In a theft involving a highly secure organization, “the only forensic evidence would be that there was no breach,” Smith said.
Smith’s warning comes as advances in quantum algorithms have reduced estimates of computing resources needed to attack the elliptic-curve cryptography used by major blockchains.
First target may not be Satoshi’s Bitcoin
Much of the fear around Q-day in crypto is what will happen if a quantum computer cracks the keys securing Satoshi Nakamoto’s estimated Bitcoin holdings, worth $63 billion at the time of writing, which could be suddenly dumped on the market.
However, Smith said the first targets may be military systems and state secrets, while crypto attackers could go for even more valuable keys.
“If I’m focusing on blockchain, what’s the single most valuable key? It’s probably Tether’s minting key,” Smith said. A quantum attacker could mint tokens out of thin air from an administrative wallet and dump them on the market before the issuer could respond, he added.
USDT is a multi-chain stablecoin, and some of the networks on which it is deployed are already actively working on post-quantum migration.
Another theory is that attackers make a quieter opening move.
Sean Cheetham, a security researcher at Blockchain Capital, said an attacker would more likely target hot wallets at exchanges “that aren’t going to ring alarm bells rather than stealing Satoshi’s coins.”
Smith said an attacker may disguise a quantum theft as an ordinary compromise.
“There’s an alternative scenario where they… have these plausible, deniable [explanations]: ‘Oh, somebody just lost their keys somehow,’” he said.
Q-day timeline hard to pin down
In March, Google accelerated its post-quantum migration timeline to 2029 as an AI-assisted breakthrough showed elliptic curve cryptography can be cracked with far fewer physical qubits than previously forecasted.
NGRAVE CEO Roy Blackstone said earlier quantum forecasts failed to account for the parallel development of AI.
“Most threat models assumed we had well into the next decade before quantum technology could realistically crack the cryptography securing public keys, but it did not account for how fast AI would develop alongside it.”
Despite growing urgency, there is little agreement on when a quantum computer capable of breaking modern cryptography will be ready.
Smith, whose company is developing a blockchain network aiming to be quantum-resistant from launch, said there was a “50-50” chance it could happen by 2028, arguing that continued AI-assisted improvements in quantum algorithms and hardware research are making forecasts less reliable.
Cheetham said the early 2030s “definitely is almost a certainty” and that an earlier arrival was “more of a trailing probability.”
Michael Coates, the Solana Foundation’s chief information security officer, declined to give an estimate during an earlier interview, saying “there’s no way to know.”
“If you talk to people in the industry, it is always five years away, and it’s been that way for 10 years or more now. Perhaps today people say it’s four years away,” he said. But the uncertainty is not a reason to delay, he added.
“Thankfully, blockchains aren’t waiting and have started migrating to post-quantum signatures,” said Blackstone. “The damage would be catastrophic if they didn’t.”
Magazine: How AI just dramatically sped up the quantum risk for Bitcoin
Ex-US defense secretary calls CLARITY Act a ‘national security bill’A former US defense secretary has urged the Senate to pass the CLARITY Act, arguing that weak digital asset rules create openings for North Korea and China to undermine American financial power. In an op-ed in the Financial Times on Saturday, former US Secretary of Defense Mark Esper said Beijing is already investing in state-directed payment systems to sidestep American supervision and erode the US dollar’s central role.  “I have long argued that China is the greatest strategic threat of our lifetime,” said Esper, who also serves as a member of the Coinbase Global Advisory Council.  He also said the act would give the US better tools to cut off crypto-specific loopholes that can be used by North Korean actors such as the Lazarus Group to avoid US financial controls. “The Act also extends the Treasury’s potent special-measures authority under section 311 of the USA Patriot Act — one of our sharpest weapons against rogue actors,” he said.  The Senate is expected to vote on the CLARITY Act on Sept. 15. On Saturday, Senate Majority Leader John Thune filed cloture to bring the CLARITY Act to the Senate floor for consideration. “This is why the Clarity Act, now before the Senate, is not merely a financial services bill. It is also a national security bill, and it should be understood as such and passed with urgency,” said Esper. 

Ex-US defense secretary calls CLARITY Act a ‘national security bill’

A former US defense secretary has urged the Senate to pass the CLARITY Act, arguing that weak digital asset rules create openings for North Korea and China to undermine American financial power.
In an op-ed in the Financial Times on Saturday, former US Secretary of Defense Mark Esper said Beijing is already investing in state-directed payment systems to sidestep American supervision and erode the US dollar’s central role.
“I have long argued that China is the greatest strategic threat of our lifetime,” said Esper, who also serves as a member of the Coinbase Global Advisory Council.
He also said the act would give the US better tools to cut off crypto-specific loopholes that can be used by North Korean actors such as the Lazarus Group to avoid US financial controls.
“The Act also extends the Treasury’s potent special-measures authority under section 311 of the USA Patriot Act — one of our sharpest weapons against rogue actors,” he said.
The Senate is expected to vote on the CLARITY Act on Sept. 15. On Saturday, Senate Majority Leader John Thune filed cloture to bring the CLARITY Act to the Senate floor for consideration.
“This is why the Clarity Act, now before the Senate, is not merely a financial services bill. It is also a national security bill, and it should be understood as such and passed with urgency,” said Esper.
BIP-110 Bitcoin branch stalls after two blocks as gap widensBitcoin’s BIP-110-enforcing branch stalled at block 961,633 on Sunday after producing only two blocks, while the non-enforcing chain advanced to 961,721, widening the gap to 88 blocks.  According to the BIP-110 monitor, updated at 10:19 am UTC, the branch’s latest block had been mined about 12 hours earlier. Ocean records show that a pseudonymous mining group called Roughnecks produced the branch’s first two blocks using Ocean’s Decentralized Alternative Templates for Universal Mining (DATUM) mining protocol.  The divergence began after BIP-110 entered mandatory signaling at block 961,632 on Saturday. Only 51 of the preceding 2,016 blocks, or 2.53%, signaled support. During this window, BIP-110 nodes reject blocks that do not signal through version bit 4, while ordinary Bitcoin nodes accept both signaling and non-signaling blocks.  Under the proposal, mandatory signaling continues through block 963,647. The enforcing branch must mine through the remainder of the 2,016-block adjustment period before its difficulty can adjust, making progress slow without substantially more hashpower. BIP-110 has faced opposition from prominent Bitcoin advocates. Strategy executive chairman Michael Saylor said he shared the proposal’s objectives but argued that its approach threatened Bitcoin’s neutral rules and consensus.  Blockstream CEO Adam Back warned that the consensus-level change could damage Bitcoin’s credibility and potentially make certain unspent transaction outputs unspendable. 

BIP-110 Bitcoin branch stalls after two blocks as gap widens

Bitcoin’s BIP-110-enforcing branch stalled at block 961,633 on Sunday after producing only two blocks, while the non-enforcing chain advanced to 961,721, widening the gap to 88 blocks.
According to the BIP-110 monitor, updated at 10:19 am UTC, the branch’s latest block had been mined about 12 hours earlier. Ocean records show that a pseudonymous mining group called Roughnecks produced the branch’s first two blocks using Ocean’s Decentralized Alternative Templates for Universal Mining (DATUM) mining protocol.
The divergence began after BIP-110 entered mandatory signaling at block 961,632 on Saturday. Only 51 of the preceding 2,016 blocks, or 2.53%, signaled support. During this window, BIP-110 nodes reject blocks that do not signal through version bit 4, while ordinary Bitcoin nodes accept both signaling and non-signaling blocks.
Under the proposal, mandatory signaling continues through block 963,647. The enforcing branch must mine through the remainder of the 2,016-block adjustment period before its difficulty can adjust, making progress slow without substantially more hashpower.
BIP-110 has faced opposition from prominent Bitcoin advocates. Strategy executive chairman Michael Saylor said he shared the proposal’s objectives but argued that its approach threatened Bitcoin’s neutral rules and consensus.
Blockstream CEO Adam Back warned that the consensus-level change could damage Bitcoin’s credibility and potentially make certain unspent transaction outputs unspendable.
Brazil targets crypto fraud with up to 24-hour transfer holdBrazil’s central bank will require virtual asset service providers (VASPs) to place precautionary holds of up to 24 hours on certain transfers to foreign platforms or self-custody wallets as part of new measures aimed at preventing fraud.  On Friday, the Banco Central do Brasil (BCB) said the requirement will apply to funds received above $10,000, either in a single transaction or based on a customer’s total transactions in a day. Providers must also hold other transfers requiring further scrutiny under their risk-management policies.  The rules take effect on Jan. 1, 2027. Providers must notify customers of holds and keep records of fraud incidents, attempted fraud and corrective actions. A VASP may complete its assessment and release a transfer before the 24 hours expire, provided that it follows parameters set out by the central bank.  The measure adds Brazil to a growing list of jurisdictions tightening crypto safeguards as regulators confront scams that exploit the speed and cross-border reach of digital assets.  Brazil joins global push against crypto scams Brazil’s move follows anti-scam measures introduced in other jurisdictions. In Japan, the Financial Services Agency and National Police Agency asked crypto exchanges to restrict withdrawals after customers deposit fiat currency or buy digital assets.  The authorities also called for platforms to require customers to preregister withdrawal addresses and impose a waiting period before newly added addresses can be used.  Other proposed safeguards include customer-specific withdrawal limits, stronger monitoring, phishing-resistant multifactor authentication and checks that the name of a bank remitter matches the crypto account holder.  Unlike Brazil’s regulation, the Japanese measures are not binding, and exchanges can determine implementation based on their operations and exposure to misuse.  European regulators have warned of criminals impersonating watchdogs and crypto companies as users search for licensed service providers after the EU’s Markets in Crypto-Assets licensing deadline.  France’s financial regulator reported cases involving fake websites, while the European Securities and Markets Authority said scammers had misused its identity and logo in falsified documents.  Magazine: 10 weirdest things ever tokenized... including farts

Brazil targets crypto fraud with up to 24-hour transfer hold

Brazil’s central bank will require virtual asset service providers (VASPs) to place precautionary holds of up to 24 hours on certain transfers to foreign platforms or self-custody wallets as part of new measures aimed at preventing fraud.
On Friday, the Banco Central do Brasil (BCB) said the requirement will apply to funds received above $10,000, either in a single transaction or based on a customer’s total transactions in a day. Providers must also hold other transfers requiring further scrutiny under their risk-management policies.
The rules take effect on Jan. 1, 2027. Providers must notify customers of holds and keep records of fraud incidents, attempted fraud and corrective actions. A VASP may complete its assessment and release a transfer before the 24 hours expire, provided that it follows parameters set out by the central bank.
The measure adds Brazil to a growing list of jurisdictions tightening crypto safeguards as regulators confront scams that exploit the speed and cross-border reach of digital assets.
Brazil joins global push against crypto scams
Brazil’s move follows anti-scam measures introduced in other jurisdictions. In Japan, the Financial Services Agency and National Police Agency asked crypto exchanges to restrict withdrawals after customers deposit fiat currency or buy digital assets.
The authorities also called for platforms to require customers to preregister withdrawal addresses and impose a waiting period before newly added addresses can be used.
Other proposed safeguards include customer-specific withdrawal limits, stronger monitoring, phishing-resistant multifactor authentication and checks that the name of a bank remitter matches the crypto account holder.
Unlike Brazil’s regulation, the Japanese measures are not binding, and exchanges can determine implementation based on their operations and exposure to misuse.
European regulators have warned of criminals impersonating watchdogs and crypto companies as users search for licensed service providers after the EU’s Markets in Crypto-Assets licensing deadline.
France’s financial regulator reported cases involving fake websites, while the European Securities and Markets Authority said scammers had misused its identity and logo in falsified documents.
Magazine: 10 weirdest things ever tokenized... including farts
BTCPay restricts remote Lightning access after attackers steal fundsBTCPay Server has temporarily restricted public remote connections to Lightning Network nodes running Lightning Network Daemon (LND) software after attackers exploited a critical vulnerability to obtain credentials and move funds.  BTCPay said the restriction prevents external wallets such as Zeus from connecting through a BTCPay Server domain or Tor onion address on Docker deployments. BTCPay said Lightning payments can continue and that it plans to restore the remote-access option when it considers it safe.  Version 2.4.2 installs LND version 0.21.1 and automatically regenerates the macaroon credentials on standard BTCPay installations. The project advised operators to check for unauthorized payments, unexpected channel closures, unfamiliar peers and discrepancies in their onchain or Lightning balances. The BTCPay breach is the latest security incident involving widely used Bitcoin products, following a Coldcard hardware-wallet flaw linked to more than $100 million in confirmed losses. The separate incidents affected software surrounding Bitcoin rather than the network’s underlying protocol. Update automatically rotates Lightning credentials BTCPay said the vulnerability allowed an unauthenticated remote attacker to obtain “macaroon” credential files used to control LND, an implementation of the Lightning Network. The project said the exposed credentials could allow attackers to take control of an LND node and move its funds. According to the project’s security advisory, version 2.4.2 installs LND version 0.21.1 and automatically regenerates macaroon credentials on standard BTCPay installations. It advised operators to check for unauthorized payments, unexpected channel closures, unfamiliar peers and discrepancies between their records and onchain or Lightning balances.  BTCPay also said operators exposing LND through their own reverse proxy, Tor service, forwarded port, or another route outside BTCPay must rotate their credentials separately. The project said installing the update does not close access routes managed independently by the operator.  At least two operators publicly reported losses. Foundation CEO Zach Herbert said the hardware-wallet company’s Lightning node was drained overnight. He later clarified that its hot wallet was unaffected, while its Lightning channels were closed and the funds swept.  Bitcoin publication Citadel21 also reported that its Lightning node had been swept. Neither operator disclosed the amount lost.  Magazine: 10 weirdest things ever tokenized... including farts

BTCPay restricts remote Lightning access after attackers steal funds

BTCPay Server has temporarily restricted public remote connections to Lightning Network nodes running Lightning Network Daemon (LND) software after attackers exploited a critical vulnerability to obtain credentials and move funds.
BTCPay said the restriction prevents external wallets such as Zeus from connecting through a BTCPay Server domain or Tor onion address on Docker deployments. BTCPay said Lightning payments can continue and that it plans to restore the remote-access option when it considers it safe.
Version 2.4.2 installs LND version 0.21.1 and automatically regenerates the macaroon credentials on standard BTCPay installations. The project advised operators to check for unauthorized payments, unexpected channel closures, unfamiliar peers and discrepancies in their onchain or Lightning balances.
The BTCPay breach is the latest security incident involving widely used Bitcoin products, following a Coldcard hardware-wallet flaw linked to more than $100 million in confirmed losses. The separate incidents affected software surrounding Bitcoin rather than the network’s underlying protocol.
Update automatically rotates Lightning credentials
BTCPay said the vulnerability allowed an unauthenticated remote attacker to obtain “macaroon” credential files used to control LND, an implementation of the Lightning Network. The project said the exposed credentials could allow attackers to take control of an LND node and move its funds.
According to the project’s security advisory, version 2.4.2 installs LND version 0.21.1 and automatically regenerates macaroon credentials on standard BTCPay installations. It advised operators to check for unauthorized payments, unexpected channel closures, unfamiliar peers and discrepancies between their records and onchain or Lightning balances.
BTCPay also said operators exposing LND through their own reverse proxy, Tor service, forwarded port, or another route outside BTCPay must rotate their credentials separately. The project said installing the update does not close access routes managed independently by the operator.
At least two operators publicly reported losses. Foundation CEO Zach Herbert said the hardware-wallet company’s Lightning node was drained overnight. He later clarified that its hot wallet was unaffected, while its Lightning channels were closed and the funds swept.
Bitcoin publication Citadel21 also reported that its Lightning node had been swept. Neither operator disclosed the amount lost.
Magazine: 10 weirdest things ever tokenized... including farts
Bitcoin’s BIP-110 enters mandatory signaling with miner support below 3%Bitcoin Improvement Proposal 110 entered its mandatory-signaling phase at block 961,632 on Saturday, with miners signaling support in just 51 of the preceding 2,016 blocks, or 2.53%, well below the 55% threshold required for early activation, according to the BIP-110 monitor. Starting at block 961,632, nodes enforcing BIP-110 began rejecting blocks that did not set version bit 4, while ordinary Bitcoin nodes continued accepting both signaling and non-signaling blocks. A minority BIP-110 branch subsequently emerged, but quickly fell behind the dominant chain. The low signaling rate makes a sustained rival chain unlikely without substantially greater miner participation. With relatively little mining support, a BIP-110 branch could advance slowly or stop producing blocks altogether. The milestone tests whether supporters can advance a contentious consensus change without broad miner backing, potentially separating enforcing nodes from the dominant chain and escalating a dispute over how Bitcoin’s block space should be used. BIP-110 seeks temporary limits on Bitcoin data Written by pseudonymous developer Dathon Ohm, BIP-110 proposes additional consensus restrictions lasting roughly one year. It would limit most new output scripts to 34 bytes, cap OP_RETURN outputs at 83 bytes, restrict certain data pushes and witness elements to 256 bytes, and temporarily limit several Taproot features. Unspent transaction outputs created before activation would be exempt.  Supporters said the restrictions would discourage inscriptions and other non-monetary data that increase storage and bandwidth costs for node operators.  The proposal’s critics, including Strategy Executive Chairman Michael Saylor and Blockstream CEO Adam Back, have argued that the proposal could divide Bitcoin and cause nodes to reject transactions permitted under the network’s existing rules. The proposal uses version bit 4 for miner signaling. Its deployment schedule sets blocks 961,632 through 963,647 as a mandatory-signaling window, during which nodes enforcing BIP-110 reject blocks that do not carry the signal. The specification defines block 963,648 as the beginning of its locked-in state and block 965,664 as the point when its transaction restrictions take effect.  BIP-110 proponents have also discussed a more extensive fallback. On Aug. 1, Bitcoin developer Chris Guida rebased preliminary code for a proof-of-work change originally written by Bitcoin Knots maintainer Luke Dashjr.  Guida described the code at the time as a contingency if miners opposed BIP-110, but said no activation date had been set.  Magazine: 10 weirdest things ever tokenized... including farts

Bitcoin’s BIP-110 enters mandatory signaling with miner support below 3%

Bitcoin Improvement Proposal 110 entered its mandatory-signaling phase at block 961,632 on Saturday, with miners signaling support in just 51 of the preceding 2,016 blocks, or 2.53%, well below the 55% threshold required for early activation, according to the BIP-110 monitor.
Starting at block 961,632, nodes enforcing BIP-110 began rejecting blocks that did not set version bit 4, while ordinary Bitcoin nodes continued accepting both signaling and non-signaling blocks. A minority BIP-110 branch subsequently emerged, but quickly fell behind the dominant chain.
The low signaling rate makes a sustained rival chain unlikely without substantially greater miner participation. With relatively little mining support, a BIP-110 branch could advance slowly or stop producing blocks altogether.
The milestone tests whether supporters can advance a contentious consensus change without broad miner backing, potentially separating enforcing nodes from the dominant chain and escalating a dispute over how Bitcoin’s block space should be used.
BIP-110 seeks temporary limits on Bitcoin data
Written by pseudonymous developer Dathon Ohm, BIP-110 proposes additional consensus restrictions lasting roughly one year.
It would limit most new output scripts to 34 bytes, cap OP_RETURN outputs at 83 bytes, restrict certain data pushes and witness elements to 256 bytes, and temporarily limit several Taproot features. Unspent transaction outputs created before activation would be exempt.
Supporters said the restrictions would discourage inscriptions and other non-monetary data that increase storage and bandwidth costs for node operators.
The proposal’s critics, including Strategy Executive Chairman Michael Saylor and Blockstream CEO Adam Back, have argued that the proposal could divide Bitcoin and cause nodes to reject transactions permitted under the network’s existing rules.
The proposal uses version bit 4 for miner signaling. Its deployment schedule sets blocks 961,632 through 963,647 as a mandatory-signaling window, during which nodes enforcing BIP-110 reject blocks that do not carry the signal.
The specification defines block 963,648 as the beginning of its locked-in state and block 965,664 as the point when its transaction restrictions take effect.
BIP-110 proponents have also discussed a more extensive fallback. On Aug. 1, Bitcoin developer Chris Guida rebased preliminary code for a proof-of-work change originally written by Bitcoin Knots maintainer Luke Dashjr.
Guida described the code at the time as a contingency if miners opposed BIP-110, but said no activation date had been set.
Magazine: 10 weirdest things ever tokenized... including farts
Artículo
US spot Bitcoin ETFs post best week since April with $1B inflowsDemand for US spot Bitcoin exchange-traded funds (ETFs) rebounded sharply this week, signaling renewed investor appetite after months of uneven flows, even as uncertainty persists around digital asset regulation and the security of crypto self-custody. On Saturday, Bloomberg ETF analyst Eric Balchunas said the spot funds attracted roughly $1 billion in net inflows for the week, their strongest showing since April and third-best week since last October — a period he referred to as Bitcoin’s “silent IPO.” Source: Eric Balchunas The term was popularized by investor Jordi Visser in November to describe what he viewed as a changing of the guard among Bitcoin holders. Under the theory, early investors were selling into growing demand from ETFs and other institutional buyers, creating enough supply to keep Bitcoin subdued despite substantial new capital entering the market. That distribution coincided with a deterioration in ETF flows compared with earlier periods of stronger demand, making this week’s rebound particularly notable. Coldcard hack puts self-custody in focus The rebound has also followed a major security incident involving Coldcard, a popular Bitcoin hardware wallet developed by Coinkite, that resulted in roughly $116 million worth of Bitcoin being stolen. The exploit was linked to a flaw in how affected devices generated wallet keys, allowing attackers to compromise funds held in wallets created using vulnerable firmware. On Friday, Balchunas suggested the incident could ultimately strengthen the appeal of spot Bitcoin ETFs among investors who are uncomfortable with the technical and security responsibilities associated with self-custody. He pointed to the surge in ETF inflows following the hack as a potential, though unproven, link. While acknowledging that correlation does not imply causation, Balchunas said, “long-term I can’t imagine there aren’t some who migrate over,” referring to investors potentially shifting from cold storage to ETFs. Magazine: Do the Coldcard attacks mean all hardware wallets are now insecure?

US spot Bitcoin ETFs post best week since April with $1B inflows

Demand for US spot Bitcoin exchange-traded funds (ETFs) rebounded sharply this week, signaling renewed investor appetite after months of uneven flows, even as uncertainty persists around digital asset regulation and the security of crypto self-custody.
On Saturday, Bloomberg ETF analyst Eric Balchunas said the spot funds attracted roughly $1 billion in net inflows for the week, their strongest showing since April and third-best week since last October — a period he referred to as Bitcoin’s “silent IPO.”
Source: Eric Balchunas
The term was popularized by investor Jordi Visser in November to describe what he viewed as a changing of the guard among Bitcoin holders. Under the theory, early investors were selling into growing demand from ETFs and other institutional buyers, creating enough supply to keep Bitcoin subdued despite substantial new capital entering the market.
That distribution coincided with a deterioration in ETF flows compared with earlier periods of stronger demand, making this week’s rebound particularly notable.
Coldcard hack puts self-custody in focus
The rebound has also followed a major security incident involving Coldcard, a popular Bitcoin hardware wallet developed by Coinkite, that resulted in roughly $116 million worth of Bitcoin being stolen. The exploit was linked to a flaw in how affected devices generated wallet keys, allowing attackers to compromise funds held in wallets created using vulnerable firmware.
On Friday, Balchunas suggested the incident could ultimately strengthen the appeal of spot Bitcoin ETFs among investors who are uncomfortable with the technical and security responsibilities associated with self-custody. He pointed to the surge in ETF inflows following the hack as a potential, though unproven, link.
While acknowledging that correlation does not imply causation, Balchunas said, “long-term I can’t imagine there aren’t some who migrate over,” referring to investors potentially shifting from cold storage to ETFs.
Magazine: Do the Coldcard attacks mean all hardware wallets are now insecure?
Artículo
US Senate to vote on advancing CLARITY Act on Sept. 15 after Thune files clotureUS Senate Majority Leader John Thune has filed cloture on a motion to take up the Digital Asset Market Clarity Act, also known as the CLARITY Act, setting up a key procedural vote on the crypto market structure bill for Sept. 15. The vote is expected after the Senate reconvenes at 2:15 pm ET on Sept. 15, giving lawmakers several more weeks to work through unresolved disagreements over the legislation. The Senate Daily Press confirmed that Thune filed cloture on the motion to bring the CLARITY Act to the Senate floor for consideration. Invoking cloture on the motion requires 60 votes, meaning Republicans will need Democratic support to clear the procedural hurdle and move toward consideration of the bill. Thune’s move puts the CLARITY Act on a path toward Senate consideration after lawmakers failed to reach an agreement before the August recess. Negotiations have been complicated by disagreements over ethics provisions and rules governing stablecoin rewards, among other issues. Source: Eleanor Terrett While the move marks progress for the legislation, it does not guarantee that the CLARITY Act will receive a final vote or pass the Senate. The cloture vote concerns whether to take up the legislation for consideration, rather than passage of the bill itself. The CLARITY Act is considered a landmark piece of US crypto legislation that would establish a federal market structure for digital assets, clarify when crypto assets fall under securities or commodities laws and delineate oversight responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission. Until now, negotiations have stalled over proposed ethics provisions that would restrict government officials and their families from issuing or profiting from digital assets while in office. In an effort to break that impasse, lawmakers have been reportedly working on a bipartisan ethics addendum aimed at addressing Democratic concerns over President Donald Trump’s crypto-related financial interests. As Bloomberg reported Thursday, the proposal would require the president to divest from certain crypto-related businesses. Magazine: CLARITY hopes fade, BitMEX shuts as lawsuit looms: Hodler’s Digest, July 26

US Senate to vote on advancing CLARITY Act on Sept. 15 after Thune files cloture

US Senate Majority Leader John Thune has filed cloture on a motion to take up the Digital Asset Market Clarity Act, also known as the CLARITY Act, setting up a key procedural vote on the crypto market structure bill for Sept. 15.
The vote is expected after the Senate reconvenes at 2:15 pm ET on Sept. 15, giving lawmakers several more weeks to work through unresolved disagreements over the legislation.
The Senate Daily Press confirmed that Thune filed cloture on the motion to bring the CLARITY Act to the Senate floor for consideration. Invoking cloture on the motion requires 60 votes, meaning Republicans will need Democratic support to clear the procedural hurdle and move toward consideration of the bill.
Thune’s move puts the CLARITY Act on a path toward Senate consideration after lawmakers failed to reach an agreement before the August recess. Negotiations have been complicated by disagreements over ethics provisions and rules governing stablecoin rewards, among other issues.
Source: Eleanor Terrett
While the move marks progress for the legislation, it does not guarantee that the CLARITY Act will receive a final vote or pass the Senate. The cloture vote concerns whether to take up the legislation for consideration, rather than passage of the bill itself.
The CLARITY Act is considered a landmark piece of US crypto legislation that would establish a federal market structure for digital assets, clarify when crypto assets fall under securities or commodities laws and delineate oversight responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Until now, negotiations have stalled over proposed ethics provisions that would restrict government officials and their families from issuing or profiting from digital assets while in office.
In an effort to break that impasse, lawmakers have been reportedly working on a bipartisan ethics addendum aimed at addressing Democratic concerns over President Donald Trump’s crypto-related financial interests. As Bloomberg reported Thursday, the proposal would require the president to divest from certain crypto-related businesses.
Magazine: CLARITY hopes fade, BitMEX shuts as lawsuit looms: Hodler’s Digest, July 26
Verificado
Domestic stablecoins could boost demand for dollar-backed tokens: IMFDomestic-currency stablecoins intended to curb reliance on dollar-backed tokens could instead make it easier for users to move funds into digital dollars, according to a senior International Monetary Fund (IMF) official. On Friday, IMF First Deputy Managing Director Dan Katz said that once local and dollar stablecoins operate on the same blockchain infrastructure, users can convert between them through decentralized exchanges, liquidity pools or peer-to-peer swaps.  In a speech at the University of Cape Town, Katz said the shift could move foreign exchange activity away from banks and currency dealers, reducing the friction that gives authorities tools to monitor and manage capital flows.  “In this way, local-currency stablecoins might even accelerate the adoption of FX stablecoins,” he said. Katz pointed to South Africa, where dollar-backed stablecoins have gained limited traction but rand-linked tokens have attracted even less demand.  While it was too early to draw firm conclusions, he said many users may favor dollar tokens because of their liquidity, network effects and acceptance across platforms and borders.  Katz said the risks vary by country. Stablecoins may largely replace existing dollar holdings in highly dollarized economies but could increase foreign-currency demand in countries where access to dollars is restricted and economic frameworks are weak.  He urged authorities to bring onramps, offramps and onchain exchange points within regulatory frameworks. 

Domestic stablecoins could boost demand for dollar-backed tokens: IMF

Domestic-currency stablecoins intended to curb reliance on dollar-backed tokens could instead make it easier for users to move funds into digital dollars, according to a senior International Monetary Fund (IMF) official.
On Friday, IMF First Deputy Managing Director Dan Katz said that once local and dollar stablecoins operate on the same blockchain infrastructure, users can convert between them through decentralized exchanges, liquidity pools or peer-to-peer swaps.
In a speech at the University of Cape Town, Katz said the shift could move foreign exchange activity away from banks and currency dealers, reducing the friction that gives authorities tools to monitor and manage capital flows.
“In this way, local-currency stablecoins might even accelerate the adoption of FX stablecoins,” he said.
Katz pointed to South Africa, where dollar-backed stablecoins have gained limited traction but rand-linked tokens have attracted even less demand.
While it was too early to draw firm conclusions, he said many users may favor dollar tokens because of their liquidity, network effects and acceptance across platforms and borders.
Katz said the risks vary by country. Stablecoins may largely replace existing dollar holdings in highly dollarized economies but could increase foreign-currency demand in countries where access to dollars is restricted and economic frameworks are weak.
He urged authorities to bring onramps, offramps and onchain exchange points within regulatory frameworks.
US court backs Bybit’s bid to trace funds from $1.5B North Korea hackUnited States court records unsealed on Thursday show that a federal judge backed crypto exchange Bybit’s effort to trace assets stolen in the $1.5 billion North Korea-linked hack by granting the company expedited discovery.  According to the records,  Bybit filed the lawsuit under seal on June 18 against North Korea, its Reconnaissance General Bureau, the Lazarus Group and 20 unidentified defendants. The court granted Bybit’s request for expedited discovery on June 19. The discovery authority gives Bybit a practical route to identify alleged intermediaries and pursue a small portion of stolen assets that remains traceable, rather than relying solely on a judgment against North Korea.  In its complaint, Bybit alleged that some traceable assets reached exchanges operating or maintaining infrastructure in the US. The company sought account-holder identities, balances and transaction histories, saying certain platforms had indicated they would cooperate after receiving a court order. Bybit says 90% of stolen funds became untraceable Bybit also obtained a temporary restraining order on June 19 preventing the unidentified defendants from transferring certain traceable assets. The court renewed the order on July 16 and partially granted Bybit’s request for a preliminary injunction on July 30. Some exhibits and other records remain sealed. As of the June 18 filing, Bybit said 90.2% of the stolen assets had become untraceable after passing through mixers, cross-chain bridges and over-the-counter dealers. The remaining 9.8% had been traced to identifiable wallets, including 5.3% of the total, about $75.5 million, that had been frozen or recovered. The figures mark a sharp drop from more than a year ago, when Bybit CEO Ben Zhou said at the time that 68.57% of the funds remained traceable.  The hack occured on Feb. 21, 2025, after attackers compromised Safe Wallet’s infrastructure. Forensic investigators said compromised credentials belonging to a Safe developer allowed the attackers to inject malicious code into its cloud infrastructure. The FBI attributed the theft to North Korea on Feb. 26, 2025.  The lawsuit shows that Bybit is seeking the return of the stolen assets, approximately $1.5 billion in compensatory damages, punitive damages and treble damages under the US Racketeer Influenced and Corrupt Organizations Act. Magazine: 10 weirdest things ever tokenized... including farts

US court backs Bybit’s bid to trace funds from $1.5B North Korea hack

United States court records unsealed on Thursday show that a federal judge backed crypto exchange Bybit’s effort to trace assets stolen in the $1.5 billion North Korea-linked hack by granting the company expedited discovery.
According to the records, Bybit filed the lawsuit under seal on June 18 against North Korea, its Reconnaissance General Bureau, the Lazarus Group and 20 unidentified defendants. The court granted Bybit’s request for expedited discovery on June 19.
The discovery authority gives Bybit a practical route to identify alleged intermediaries and pursue a small portion of stolen assets that remains traceable, rather than relying solely on a judgment against North Korea.
In its complaint, Bybit alleged that some traceable assets reached exchanges operating or maintaining infrastructure in the US. The company sought account-holder identities, balances and transaction histories, saying certain platforms had indicated they would cooperate after receiving a court order.
Bybit says 90% of stolen funds became untraceable
Bybit also obtained a temporary restraining order on June 19 preventing the unidentified defendants from transferring certain traceable assets. The court renewed the order on July 16 and partially granted Bybit’s request for a preliminary injunction on July 30. Some exhibits and other records remain sealed.
As of the June 18 filing, Bybit said 90.2% of the stolen assets had become untraceable after passing through mixers, cross-chain bridges and over-the-counter dealers. The remaining 9.8% had been traced to identifiable wallets, including 5.3% of the total, about $75.5 million, that had been frozen or recovered.
The figures mark a sharp drop from more than a year ago, when Bybit CEO Ben Zhou said at the time that 68.57% of the funds remained traceable.
The hack occured on Feb. 21, 2025, after attackers compromised Safe Wallet’s infrastructure. Forensic investigators said compromised credentials belonging to a Safe developer allowed the attackers to inject malicious code into its cloud infrastructure. The FBI attributed the theft to North Korea on Feb. 26, 2025.
The lawsuit shows that Bybit is seeking the return of the stolen assets, approximately $1.5 billion in compensatory damages, punitive damages and treble damages under the US Racketeer Influenced and Corrupt Organizations Act.
Magazine: 10 weirdest things ever tokenized... including farts
Donald Trump’s media company to terminate Crypto.com dealUS President Donald Trump’s company, the Trump Media and Technology Group (TMTG), is pulling back from a deal with the Crypto.com exchange to instead focus on a merger with energy company TAE. First reported by Axios on Friday, TMTG interim CEO Kevin McGurn said that the company would pull back from two Crypto.com deals aimed at creating a $6.4 billion CRO treasury and integrating prediction markets into its Truth Social platform. The Trump media company, crypto exchange, and special purpose acquisition company Yorkville Acquisition Corp said “prevailing market conditions and shifting business and stakeholder priorities” led to the dissolution of the treasury deal. TMTG announced the CRO treasury deal in September 2025, in which President Trump’s company would purchase billions of dollars worth of Crypto.com’s CRO tokens, potentially allowing Truth Social users to receive crypto rewards. The media platform followed with an October announcement that it planned to enable prediction markets under the service Truth Predict. McGurn reportedly said that the decision to roll back the deals was driven more by competitive dynamics rather than regulatory concerns surrounding the administration regulating the crypto industry. The US president continues to face scrutiny from many lawmakers calling for ethics provision in a crypto market structure bill to eliminate conflicts of interest between the Trump family and its digital asset investments.

Donald Trump’s media company to terminate Crypto.com deal

US President Donald Trump’s company, the Trump Media and Technology Group (TMTG), is pulling back from a deal with the Crypto.com exchange to instead focus on a merger with energy company TAE.
First reported by Axios on Friday, TMTG interim CEO Kevin McGurn said that the company would pull back from two Crypto.com deals aimed at creating a $6.4 billion CRO treasury and integrating prediction markets into its Truth Social platform. The Trump media company, crypto exchange, and special purpose acquisition company Yorkville Acquisition Corp said “prevailing market conditions and shifting business and stakeholder priorities” led to the dissolution of the treasury deal.
TMTG announced the CRO treasury deal in September 2025, in which President Trump’s company would purchase billions of dollars worth of Crypto.com’s CRO tokens, potentially allowing Truth Social users to receive crypto rewards. The media platform followed with an October announcement that it planned to enable prediction markets under the service Truth Predict.
McGurn reportedly said that the decision to roll back the deals was driven more by competitive dynamics rather than regulatory concerns surrounding the administration regulating the crypto industry. The US president continues to face scrutiny from many lawmakers calling for ethics provision in a crypto market structure bill to eliminate conflicts of interest between the Trump family and its digital asset investments.
US Treasury’s OFAC sanctions 2 Iran-linked crypto exchangesThe US Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions against two digital asset exchanges it said that “the Iranian regime relies on to launder billions of dollars” amid military actions between the two countries.  In a Friday notice, OFAC said it had taken measures against crypto exchanges Shelbit and Aban Tether for “facilitating illicit cryptocurrency activity and sanctions evasion,” using the proceeds to support Iran’s Islamic Revolutionary Guard Corps (IRGC). The government agency also sanctioned Iranian national Siavash Kayvanpour and crypto wallets and companies tied to him, one of which operates Shelbit. “We will continue to increase the economic pressure,” said Treasury Secretary Scott Bessent. “Whether in dollars, rials, or crypto, Treasury will hunt down and dismantle the illicit financial networks that keep the regime afloat.” According to the US Treasury, IRGC-controlled wallets sent more than $1 million in crypto to addresses tied to Shelbit, while wallets linked to Kayvanpour sent $2 million in digital assets to Nobitex, an Iranian exchange added to the US’ list of sanctioned entities in June. The agency said that Shelbit had facilitated the transfer of $2 million in crypto to IRGC-controlled wallets. OFAC’s actions were the latest by the US government to target Iran’s finances amid both countries’ military conflict. The department designated digital asset exchanges Zedcex and Zedxio as sanctioned entities in January and froze $131 million in wallets linked to Iran in June. 

US Treasury’s OFAC sanctions 2 Iran-linked crypto exchanges

The US Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions against two digital asset exchanges it said that “the Iranian regime relies on to launder billions of dollars” amid military actions between the two countries.
In a Friday notice, OFAC said it had taken measures against crypto exchanges Shelbit and Aban Tether for “facilitating illicit cryptocurrency activity and sanctions evasion,” using the proceeds to support Iran’s Islamic Revolutionary Guard Corps (IRGC). The government agency also sanctioned Iranian national Siavash Kayvanpour and crypto wallets and companies tied to him, one of which operates Shelbit.
“We will continue to increase the economic pressure,” said Treasury Secretary Scott Bessent. “Whether in dollars, rials, or crypto, Treasury will hunt down and dismantle the illicit financial networks that keep the regime afloat.”
According to the US Treasury, IRGC-controlled wallets sent more than $1 million in crypto to addresses tied to Shelbit, while wallets linked to Kayvanpour sent $2 million in digital assets to Nobitex, an Iranian exchange added to the US’ list of sanctioned entities in June. The agency said that Shelbit had facilitated the transfer of $2 million in crypto to IRGC-controlled wallets.
OFAC’s actions were the latest by the US government to target Iran’s finances amid both countries’ military conflict. The department designated digital asset exchanges Zedcex and Zedxio as sanctioned entities in January and froze $131 million in wallets linked to Iran in June.
Circle expands USDC to OKX ecosystem with X Layer launchCircle has launched its USDC stablecoin on X Layer, OKX’s Ethereum layer-2 network, extending the stablecoin to an ecosystem connected to one of the world’s largest cryptocurrency exchanges by trading volume. Circle announced Friday that native USDC and its Cross-Chain Transfer Protocol (CCTP) are now available on X Layer. The network is compatible with the Ethereum Virtual Machine (EVM), allowing applications built for Ethereum to run on it with relatively few changes. CCTP allows USDC to move between X Layer and other supported blockchains by burning the tokens on the source chain and minting an equivalent amount on the destination chain. The integration supports uses including payments, decentralized finance lending and borrowing, trading and crosschain transfers. Circle added that eligible businesses can also access USDC on- and offramps through Circle Mint. The integration brings the world’s second-largest stablecoin by market capitalization to the blockchain ecosystem of a major centralized exchange. OKX recorded more than $975 million in spot trading volume over the past 24 hours, making it the fourth-largest crypto exchange by that measure, according to CoinMarketCap data.

Circle expands USDC to OKX ecosystem with X Layer launch

Circle has launched its USDC stablecoin on X Layer, OKX’s Ethereum layer-2 network, extending the stablecoin to an ecosystem connected to one of the world’s largest cryptocurrency exchanges by trading volume.
Circle announced Friday that native USDC and its Cross-Chain Transfer Protocol (CCTP) are now available on X Layer. The network is compatible with the Ethereum Virtual Machine (EVM), allowing applications built for Ethereum to run on it with relatively few changes.
CCTP allows USDC to move between X Layer and other supported blockchains by burning the tokens on the source chain and minting an equivalent amount on the destination chain. The integration supports uses including payments, decentralized finance lending and borrowing, trading and crosschain transfers.
Circle added that eligible businesses can also access USDC on- and offramps through Circle Mint.
The integration brings the world’s second-largest stablecoin by market capitalization to the blockchain ecosystem of a major centralized exchange. OKX recorded more than $975 million in spot trading volume over the past 24 hours, making it the fourth-largest crypto exchange by that measure, according to CoinMarketCap data.
Reform UK chair calls for probe into SBF-linked donation: ReportThe chairman of the UK’s Reform party has called for an investigation following reports of a $50,000 political donation linked to former FTX CEO Sam “SBF” Bankman-Fried. According to a Friday report from the Telegraph, Reform UK chair Lee Anderson called for the parliamentary commissioner for standards to probe Defense Secretary Wes Streeting over reported $50,000 in donations from a think tank in 2022 and 2023. The reported donations came from Labour for the Long Term, whose founder reportedly accepted a $675,000 gift from Bankman-Fried before sending funds to Streeting. Notably, Reform leader Nigel Farage is set to face voters next week in a by-election triggered by his resignation as a member of parliament amid his own crypto scandal. The UK politician received $6.7 million in donations from crypto billionaire Christopher Harborne and financial assistance from George Cottrell, a convicted fraudster linked to a crypto casino. Farage claimed that the contributions were “gifts.” Under UK law, unincorporated associations are permitted to give more than $675 directly to politicians, according to the International Bar Association. The regulations offer a loophole for companies with business in the UK to be used as “conduits for foreign or dark money” to lawmakers without reporting the source of the funds. According to the Telegraph, Streeting asked Labour for the Long Term for a list of its donors before accepting the $50,000, but Bankman-Fried’s name was not included. The defense secretary reportedly said that he had never had any contact with the former FTX CEO, who is currently serving 25 years in prison after his conviction on seven felony charges. David Lawrence, who founded the think tank, said Streeting’s contribution was funded by a donor other than the former CEO, and that Labour for the Long Term ”did not receive any donations from the FTX Foundation or Mr. Bankman-Fried,” according to the Telegraph. US court issues mandate upholding SBF’s conviction Earlier this week, the US Court of Appeals for the Second Circuit issued a formal mandate upholding Bankman-Fried’s felony conviction and 25-year sentence. The appeals court announced its ruling in June, giving the former CEO fewer legal routes to seek a potential early release from prison. Bankman-Fried still has the option of appealing to the US Supreme Court or waiting for a potential presidential pardon from Donald Trump. Magazine: How Fake World Assets and onchain gacha became crypto’s latest craze

Reform UK chair calls for probe into SBF-linked donation: Report

The chairman of the UK’s Reform party has called for an investigation following reports of a $50,000 political donation linked to former FTX CEO Sam “SBF” Bankman-Fried.
According to a Friday report from the Telegraph, Reform UK chair Lee Anderson called for the parliamentary commissioner for standards to probe Defense Secretary Wes Streeting over reported $50,000 in donations from a think tank in 2022 and 2023. The reported donations came from Labour for the Long Term, whose founder reportedly accepted a $675,000 gift from Bankman-Fried before sending funds to Streeting.
Notably, Reform leader Nigel Farage is set to face voters next week in a by-election triggered by his resignation as a member of parliament amid his own crypto scandal. The UK politician received $6.7 million in donations from crypto billionaire Christopher Harborne and financial assistance from George Cottrell, a convicted fraudster linked to a crypto casino. Farage claimed that the contributions were “gifts.”
Under UK law, unincorporated associations are permitted to give more than $675 directly to politicians, according to the International Bar Association. The regulations offer a loophole for companies with business in the UK to be used as “conduits for foreign or dark money” to lawmakers without reporting the source of the funds.
According to the Telegraph, Streeting asked Labour for the Long Term for a list of its donors before accepting the $50,000, but Bankman-Fried’s name was not included. The defense secretary reportedly said that he had never had any contact with the former FTX CEO, who is currently serving 25 years in prison after his conviction on seven felony charges.
David Lawrence, who founded the think tank, said Streeting’s contribution was funded by a donor other than the former CEO, and that Labour for the Long Term ”did not receive any donations from the FTX Foundation or Mr. Bankman-Fried,” according to the Telegraph.
US court issues mandate upholding SBF’s conviction
Earlier this week, the US Court of Appeals for the Second Circuit issued a formal mandate upholding Bankman-Fried’s felony conviction and 25-year sentence.
The appeals court announced its ruling in June, giving the former CEO fewer legal routes to seek a potential early release from prison. Bankman-Fried still has the option of appealing to the US Supreme Court or waiting for a potential presidential pardon from Donald Trump.
Magazine: How Fake World Assets and onchain gacha became crypto’s latest craze
Artículo
Bitcoin price tags $65.3K August high as low US jobs numbers cool Fed rate betsBitcoin (BTC) hit new August highs into Friday’s Wall Street open as markets reacted to weaker US jobs numbers. Key points: Crypto and risk assets gained after US nonfarm payrolls fell by 23,000 in July. Fed interest-rate bets for September shift from a 0.25% hike to a pause on signs of a weaker labor market. Bitcoin and altcoins stayed “resilient” after a week of bearish surprises, per analysis from QCP Capital. Crypto, stocks higher on low nonfarm payrolls print Data from TradingView showed BTC/USD hitting $65,340 on Bitstamp, up 1.3% on the day, as fresh US labour-market data was released. BTC/USD four-hour chart. Source: Cointelegraph/TradingView The US economy lost 23,000 jobs in July, per nonfarm payrolls data from the Bureau of Labor Statistics (BLS), with the unemployment rate at 4.1%, numbers it described as “little changed” versus the month prior. “The change in total nonfarm payroll employment for May was revised down by 66,000, from +129,000 to +63,000, and the change for June was revised down by 37,000, from +57,000 to +20,000. With these revisions, employment in May and June combined is 103,000 lower than previously reported,” an official statement added. The combination of negative July values and downward revisions appeared to boost both crypto and US stocks, with traders linking weaker labor-market conditions with potential policy softening from the Federal Reserve. The S&P 500 index opened 0.5% higher, while the tech-heavy Nasdaq Composite Index added just over 1%. Data from CME Group’s FedWatch Tool reveals that markets are now expecting the Fed to hold interest rates at current levels at its September meeting. As late as yesterday, majority odds had favored a 0.25% rate hike. Fed target-rate probability comparison for September FOMC meeting. Source: CME Group Prior to the employment data release, Ryan Lee, chief analyst at Bitget Research, said that it would “set the tone” for both the September meeting and the Fed’s annual economic Jackson Hole economic symposium, taking place at the end of August.  Fabian Dori, CIO at Sygnum Bank, predicted that Fed chair Kevin Warsh would be influenced by the extent to which payrolls data shifted lower.  “An orderly slowdown supports the liquidity relief case, while a print weak enough to raise growth concerns can still pressure risk assets even as rate odds move,” he said in comments sent to Cointelegraph. Analysis praises Bitcoin, altcoin “resilience” In its latest crypto and macro overview released on the day, trading company QCP Capital described the macro picture as “uncertain” for Bitcoin. “For crypto, the week’s price action points to resilience rather than clear directional confirmation,” it summarized. QCP noted that the fallout from the Coldcard wallet exploit, along with BTC sales by corporations including Strategy, had only sparked “limited demand for panic protection” on options markets. Previously, Cointelegraph reported on option traders’ expectations for a BTC price trading-range breakdown to occur next month.

Bitcoin price tags $65.3K August high as low US jobs numbers cool Fed rate bets

Bitcoin (BTC) hit new August highs into Friday’s Wall Street open as markets reacted to weaker US jobs numbers.
Key points:
Crypto and risk assets gained after US nonfarm payrolls fell by 23,000 in July.
Fed interest-rate bets for September shift from a 0.25% hike to a pause on signs of a weaker labor market.
Bitcoin and altcoins stayed “resilient” after a week of bearish surprises, per analysis from QCP Capital.
Crypto, stocks higher on low nonfarm payrolls print
Data from TradingView showed BTC/USD hitting $65,340 on Bitstamp, up 1.3% on the day, as fresh US labour-market data was released.
BTC/USD four-hour chart. Source: Cointelegraph/TradingView
The US economy lost 23,000 jobs in July, per nonfarm payrolls data from the Bureau of Labor Statistics (BLS), with the unemployment rate at 4.1%, numbers it described as “little changed” versus the month prior.
“The change in total nonfarm payroll employment for May was revised down by 66,000, from +129,000 to +63,000, and the change for June was revised down by 37,000, from +57,000 to +20,000. With these revisions, employment in May and June combined is 103,000 lower than previously reported,” an official statement added.
The combination of negative July values and downward revisions appeared to boost both crypto and US stocks, with traders linking weaker labor-market conditions with potential policy softening from the Federal Reserve.
The S&P 500 index opened 0.5% higher, while the tech-heavy Nasdaq Composite Index added just over 1%.
Data from CME Group’s FedWatch Tool reveals that markets are now expecting the Fed to hold interest rates at current levels at its September meeting. As late as yesterday, majority odds had favored a 0.25% rate hike.
Fed target-rate probability comparison for September FOMC meeting. Source: CME Group
Prior to the employment data release, Ryan Lee, chief analyst at Bitget Research, said that it would “set the tone” for both the September meeting and the Fed’s annual economic Jackson Hole economic symposium, taking place at the end of August.
Fabian Dori, CIO at Sygnum Bank, predicted that Fed chair Kevin Warsh would be influenced by the extent to which payrolls data shifted lower.
“An orderly slowdown supports the liquidity relief case, while a print weak enough to raise growth concerns can still pressure risk assets even as rate odds move,” he said in comments sent to Cointelegraph.
Analysis praises Bitcoin, altcoin “resilience”
In its latest crypto and macro overview released on the day, trading company QCP Capital described the macro picture as “uncertain” for Bitcoin.
“For crypto, the week’s price action points to resilience rather than clear directional confirmation,” it summarized.
QCP noted that the fallout from the Coldcard wallet exploit, along with BTC sales by corporations including Strategy, had only sparked “limited demand for panic protection” on options markets.
Previously, Cointelegraph reported on option traders’ expectations for a BTC price trading-range breakdown to occur next month.
Artículo
Crypto Biz: Crypto’s biggest business is starting to look a lot like bankingAt first glance, this week’s biggest business stories could have come straight from Wall Street. BlackRock launched tokenized money market funds for stablecoin reserves. Tether generated another $1.5 billion in profit from its US Treasury holdings. Tokenized gold continued gaining traction, though its use in decentralized finance remains limited. Even Bitcoin (BTC) mining was defined by production costs, profitability and balance sheet management rather than the price of Bitcoin. The digital asset industry’s business model is increasingly converging with traditional finance. Stablecoin reserves, tokenized money market funds and onchain collateral are emerging as some of the industry’s most important revenue drivers, signaling that blockchain’s next phase may be shaped as much by financial infrastructure as by digital assets themselves. BlackRock launches tokenized reserve funds for stablecoin issuers Asset manager BlackRock has introduced two tokenized money market products designed to help stablecoin issuers meet reserve requirements under the US GENIUS Act, expanding its push into blockchain-based financial infrastructure. One fund tokenizes shares of BlackRock’s existing Treasury liquidity strategy on Ethereum, allowing approved investors to transfer ownership onchain while the underlying assets remain invested in cash and short-term US government securities. The second is a new institutional money market vehicle built for digital asset markets that supports multiple blockchains and automatically reinvests income, making it suitable for stablecoin reserve management. The launch deepens BlackRock’s presence in the rapidly growing tokenized Treasury market, where the asset manager already operates BUIDL, the industry’s largest tokenized Treasury fund. The move also reflects a broader shift by Wall Street toward onchain financial products following the passage of the GENIUS Act, which established a federal framework for payment stablecoins.  Tokenized gold’s DeFi footprint remains small despite record trading volumes A RedStone report found tokenized bullion held up during gold’s sharp sell-off, but DeFi lending adoption remains limited despite surging market growth and trading volumes. Spot trading volume reached $90.7 billion in Q1 as gold futures rallied above $5,600 per troy ounce, yet only about $63 million of Tether Gold and PAX Gold is used as collateral on Aave v3 and Morpho — just 1.5% of their combined $4.2 billion market cap, according to RedStone. On March 23, Aave processed its largest cluster of XAUT liquidations without disruption after gold fell 10% in a week, the worst weekly performance in more than four decades; JPMorgan’s Greg Shearer described it as an “extremely brutal flush.” Gold futures have since declined more than 20% from January peaks on expectations of higher US interest rates, and RedStone’s findings suggested tokenized gold was resilient yet faces an infrastructure gap as tokenized real-world assets scale. Liquidations of tokenized gold collateral spiked across Aave and Morpho during March’s market sell-off. Source: RedStone Trump-linked American Bitcoin posts record output, narrower Q2 losses The Trump family-linked Bitcoin miner reported record second-quarter production, generating 932 BTC and narrowing its net loss from the previous quarter. Nasdaq-listed American Bitcoin, co-founded by Eric Trump and Donald Trump Jr., reported record quarterly production of 932 BTC, helping lift mining revenue 8% to $67 million from $62.1 million in the first quarter. The company posted a net loss of $57.2 million, improving from an $81.8 million loss in Q1.  Last month, it completed a 1-for-15 reverse stock split to maintain its Nasdaq listing after its share price fell below the exchange’s minimum bid requirement. Majority-owned by Hut 8, the miner held roughly 8,002 BTC as of June 30 and had pledged about 3,090 BTC as collateral under equipment purchase agreements with Bitmain. While production and revenue improved, American Bitcoin remains unprofitable. Its reverse stock split underscores the challenges facing its public listing, while its pledged Bitcoin holdings expose the company to additional risk if BTC prices decline. Tether posts $1.5 billion Q2 profit as US Treasury income boosts reserves Tether generated a $1.5 billion net operating profit in the second quarter, driven primarily by interest earned on its US Treasury holdings and repurchase agreements, according to its latest quarterly attestation. The attestation reported a reserve buffer of $4.11 billion as of June 30, with assets exceeding liabilities by that amount. Despite a broader stablecoin market contraction, USDT circulating supply rose by $446 million to $184.6 billion, preserving Tether’s share of more than 60% of the global market, which DeFiLlama valued at roughly $307 billion. Tether remains one of the largest holders of US Treasury securities. The company’s earnings continue to benefit from elevated short-term interest rates, which boost income from Treasury bills and cash equivalents. However, the stronger profit and reserve surplus come amid continued pressure across the crypto sector and a weaker stablecoin market, conditions that could temper future growth if rate environments shift or market contraction deepens. USDT continues to dominate the stablecoin market by circulating supply. Source: DeFiLlama Crypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered directly to your inbox every Thursday.

Crypto Biz: Crypto’s biggest business is starting to look a lot like banking

At first glance, this week’s biggest business stories could have come straight from Wall Street. BlackRock launched tokenized money market funds for stablecoin reserves. Tether generated another $1.5 billion in profit from its US Treasury holdings. Tokenized gold continued gaining traction, though its use in decentralized finance remains limited. Even Bitcoin (BTC) mining was defined by production costs, profitability and balance sheet management rather than the price of Bitcoin.
The digital asset industry’s business model is increasingly converging with traditional finance. Stablecoin reserves, tokenized money market funds and onchain collateral are emerging as some of the industry’s most important revenue drivers, signaling that blockchain’s next phase may be shaped as much by financial infrastructure as by digital assets themselves.
BlackRock launches tokenized reserve funds for stablecoin issuers
Asset manager BlackRock has introduced two tokenized money market products designed to help stablecoin issuers meet reserve requirements under the US GENIUS Act, expanding its push into blockchain-based financial infrastructure.
One fund tokenizes shares of BlackRock’s existing Treasury liquidity strategy on Ethereum, allowing approved investors to transfer ownership onchain while the underlying assets remain invested in cash and short-term US government securities. The second is a new institutional money market vehicle built for digital asset markets that supports multiple blockchains and automatically reinvests income, making it suitable for stablecoin reserve management.
The launch deepens BlackRock’s presence in the rapidly growing tokenized Treasury market, where the asset manager already operates BUIDL, the industry’s largest tokenized Treasury fund. The move also reflects a broader shift by Wall Street toward onchain financial products following the passage of the GENIUS Act, which established a federal framework for payment stablecoins.
Tokenized gold’s DeFi footprint remains small despite record trading volumes
A RedStone report found tokenized bullion held up during gold’s sharp sell-off, but DeFi lending adoption remains limited despite surging market growth and trading volumes.
Spot trading volume reached $90.7 billion in Q1 as gold futures rallied above $5,600 per troy ounce, yet only about $63 million of Tether Gold and PAX Gold is used as collateral on Aave v3 and Morpho — just 1.5% of their combined $4.2 billion market cap, according to RedStone. On March 23, Aave processed its largest cluster of XAUT liquidations without disruption after gold fell 10% in a week, the worst weekly performance in more than four decades; JPMorgan’s Greg Shearer described it as an “extremely brutal flush.”
Gold futures have since declined more than 20% from January peaks on expectations of higher US interest rates, and RedStone’s findings suggested tokenized gold was resilient yet faces an infrastructure gap as tokenized real-world assets scale.
Liquidations of tokenized gold collateral spiked across Aave and Morpho during March’s market sell-off. Source: RedStone
Trump-linked American Bitcoin posts record output, narrower Q2 losses
The Trump family-linked Bitcoin miner reported record second-quarter production, generating 932 BTC and narrowing its net loss from the previous quarter.
Nasdaq-listed American Bitcoin, co-founded by Eric Trump and Donald Trump Jr., reported record quarterly production of 932 BTC, helping lift mining revenue 8% to $67 million from $62.1 million in the first quarter. The company posted a net loss of $57.2 million, improving from an $81.8 million loss in Q1.
Last month, it completed a 1-for-15 reverse stock split to maintain its Nasdaq listing after its share price fell below the exchange’s minimum bid requirement. Majority-owned by Hut 8, the miner held roughly 8,002 BTC as of June 30 and had pledged about 3,090 BTC as collateral under equipment purchase agreements with Bitmain.
While production and revenue improved, American Bitcoin remains unprofitable. Its reverse stock split underscores the challenges facing its public listing, while its pledged Bitcoin holdings expose the company to additional risk if BTC prices decline.
Tether posts $1.5 billion Q2 profit as US Treasury income boosts reserves
Tether generated a $1.5 billion net operating profit in the second quarter, driven primarily by interest earned on its US Treasury holdings and repurchase agreements, according to its latest quarterly attestation.
The attestation reported a reserve buffer of $4.11 billion as of June 30, with assets exceeding liabilities by that amount. Despite a broader stablecoin market contraction, USDT circulating supply rose by $446 million to $184.6 billion, preserving Tether’s share of more than 60% of the global market, which DeFiLlama valued at roughly $307 billion. Tether remains one of the largest holders of US Treasury securities.
The company’s earnings continue to benefit from elevated short-term interest rates, which boost income from Treasury bills and cash equivalents. However, the stronger profit and reserve surplus come amid continued pressure across the crypto sector and a weaker stablecoin market, conditions that could temper future growth if rate environments shift or market contraction deepens.
USDT continues to dominate the stablecoin market by circulating supply. Source: DeFiLlama
Crypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered directly to your inbox every Thursday.
Artículo
Bitcoiners turn to dice throws as self-custody setups are re-evaluatedIn light of the catastrophic low-entropy bug in Coldcard hardware wallets, linked to publicly observed thefts beginning on July 30, Bitcoin holders have started to re-evaluate the trust assumptions in their hardware wallet setups.  How Coldcard’s entropy flaw worked The Coldcard devices were equipped with apparently functional STM32 “true random number generators” (TRNGs) that rely on physical processes to produce an unguessable seed phrase. However, after Coldcard creator NVK decided to initiate a firmware rewrite to switch from a GPL-licensed free software model to a read-only model, a serious vulnerability appears to have been introduced. Starting with firmware version 4.0.1, released in March 2021, the device used MicroPython’s Yasmarang PRNG instead of properly using the STM32 hardware RNG. Random number generation is an unsolvable problem in computer science, which is why the generation of secure, unguessable private keys always has to rely on external physical processes to a degree.  The use of the Yasmarang PRNG was widely characterized by analysts in the space as a pre-programmed fallback. However, Coinkite has now disputed this characterization in a recent X post:  https://x.com/COLDCARDwallet/status/2085541034243600805 The conjecture that Coldcards were programmed to default to an obviously insecure method of seed generation has also sparked speculation on X about whether this was a deliberately placed backdoor.  https://x.com/stonychambers/status/2084661509913764306 Investigative Bitcoin journalist Hodlnaut speculated that the bug stemmed from careless development practices and efforts to suppress errors through random changes. https://x.com/hodlonaut/status/2083885515229573203 Coinkite estimated that Mk2 and Mk3 devices generated seeds with 40 bits of entropy, while the Mk4, Mk5 and Q achieved around 70 bits. Both are well short of the 128 bits required for a secure 12-word seed phrase. Ever since then, attackers have been successfully brute-forcing private keys, stealing over $100 million worth of BTC. How likely a wallet is to be found depends on whether or not additional dice entropy was added, or a BIP-39 passphrase and non-standard path were used.  Since then, James O’Beirne has set up a website with honeypot addresses, titled cktripwire,  in order to estimate which types of wallets attackers are effectively sweeping. Honeypots tracked by cktripwire. Source: cktripwire.com How physical entropy saved some wallets The Coldcard exploit has once again painfully driven home one of the community’s core principles: Don’t trust, verify. Those users who did not rely on an opaque piece of engineering to generate entropy for the most security critical part of the process, but used a sufficient number of dice throws, saved their coins from the exploit.  Rolling dice is a simple, visibly transparent process an ordinary user can audit themselves and understand intuitively. Verifying the TRNG, on the other hand, would require detailed physical inspection of the electronics and examination of the firmware.    While some have used recent events as a pretext to declare the end of self-custody, following this best practice leaves very few options for a remote attacker. If the seedphrase is generated through physical entropy without relying on the security of the hardware wallet, the only true single point of failure in wallet generation is removed. The xpub and receiving addresses derived from the seed can be cross-checked by importing it into other devices. Nonce exfiltration through an airgap can also be caught by checking if two devices generate the same RFC 6979-compliant signature when given an identical unsigned transaction.  Secure entropy generation is thus the absolute prerequisite for a secure wallet. Various methods and proposals for generating it have been making the rounds on X since the Coldcard exploit was made public.  The most popular method is to cross-check the device’s ability to correctly convert die faces into a BIP-39 seedphrase by applying a SHA-265 hash. Using upwards of 100 dice throws then suffices to generate entropy for a 24-word seed.  Simple paper methods, such as the table published by Bitbox, partition the space of BIP-39 seed words so that a combination of six dice rolls and a coinflip can directly be assigned a seed word without using electronics.  More sophisticated templates such as the codex32 dice de-biasing worksheet use a van Neumann extractor that can be computed by hand to generate a secure seed phrase even with biased dice. An alternative to throwing dice is to print out the BIP-39 seed words, cut them up into equally sized small pieces of paper, shuffle them thoroughly and then draw random 24 words. Products such as Seedsticks or Entropia make this more convenient and robust. https://x.com/NEEDcreations/status/2084688145463771230 Specialised hardware such as Frostsnap attempts to verifiably distribute entropy generation across devices.   https://x.com/FrostsnapTech/status/2084040293897076849 Some users have taken to designing their own physical entropy devices that can generate a seedphrase nearly as quickly as a piece of electronic hardware.  https://x.com/L0RINC/status/2083761523424719110

Bitcoiners turn to dice throws as self-custody setups are re-evaluated

In light of the catastrophic low-entropy bug in Coldcard hardware wallets, linked to publicly observed thefts beginning on July 30, Bitcoin holders have started to re-evaluate the trust assumptions in their hardware wallet setups.
How Coldcard’s entropy flaw worked
The Coldcard devices were equipped with apparently functional STM32 “true random number generators” (TRNGs) that rely on physical processes to produce an unguessable seed phrase.
However, after Coldcard creator NVK decided to initiate a firmware rewrite to switch from a GPL-licensed free software model to a read-only model, a serious vulnerability appears to have been introduced.
Starting with firmware version 4.0.1, released in March 2021, the device used MicroPython’s Yasmarang PRNG instead of properly using the STM32 hardware RNG.
Random number generation is an unsolvable problem in computer science, which is why the generation of secure, unguessable private keys always has to rely on external physical processes to a degree.
The use of the Yasmarang PRNG was widely characterized by analysts in the space as a pre-programmed fallback. However, Coinkite has now disputed this characterization in a recent X post:
https://x.com/COLDCARDwallet/status/2085541034243600805
The conjecture that Coldcards were programmed to default to an obviously insecure method of seed generation has also sparked speculation on X about whether this was a deliberately placed backdoor.
https://x.com/stonychambers/status/2084661509913764306
Investigative Bitcoin journalist Hodlnaut speculated that the bug stemmed from careless development practices and efforts to suppress errors through random changes.
https://x.com/hodlonaut/status/2083885515229573203
Coinkite estimated that Mk2 and Mk3 devices generated seeds with 40 bits of entropy, while the Mk4, Mk5 and Q achieved around 70 bits. Both are well short of the 128 bits required for a secure 12-word seed phrase.
Ever since then, attackers have been successfully brute-forcing private keys, stealing over $100 million worth of BTC. How likely a wallet is to be found depends on whether or not additional dice entropy was added, or a BIP-39 passphrase and non-standard path were used.
Since then, James O’Beirne has set up a website with honeypot addresses, titled cktripwire, in order to estimate which types of wallets attackers are effectively sweeping.
Honeypots tracked by cktripwire. Source: cktripwire.com
How physical entropy saved some wallets
The Coldcard exploit has once again painfully driven home one of the community’s core principles: Don’t trust, verify.
Those users who did not rely on an opaque piece of engineering to generate entropy for the most security critical part of the process, but used a sufficient number of dice throws, saved their coins from the exploit.
Rolling dice is a simple, visibly transparent process an ordinary user can audit themselves and understand intuitively. Verifying the TRNG, on the other hand, would require detailed physical inspection of the electronics and examination of the firmware.
While some have used recent events as a pretext to declare the end of self-custody, following this best practice leaves very few options for a remote attacker.
If the seedphrase is generated through physical entropy without relying on the security of the hardware wallet, the only true single point of failure in wallet generation is removed.
The xpub and receiving addresses derived from the seed can be cross-checked by importing it into other devices.
Nonce exfiltration through an airgap can also be caught by checking if two devices generate the same RFC 6979-compliant signature when given an identical unsigned transaction.
Secure entropy generation is thus the absolute prerequisite for a secure wallet. Various methods and proposals for generating it have been making the rounds on X since the Coldcard exploit was made public.
The most popular method is to cross-check the device’s ability to correctly convert die faces into a BIP-39 seedphrase by applying a SHA-265 hash. Using upwards of 100 dice throws then suffices to generate entropy for a 24-word seed.
Simple paper methods, such as the table published by Bitbox, partition the space of BIP-39 seed words so that a combination of six dice rolls and a coinflip can directly be assigned a seed word without using electronics.
More sophisticated templates such as the codex32 dice de-biasing worksheet use a van Neumann extractor that can be computed by hand to generate a secure seed phrase even with biased dice.
An alternative to throwing dice is to print out the BIP-39 seed words, cut them up into equally sized small pieces of paper, shuffle them thoroughly and then draw random 24 words. Products such as Seedsticks or Entropia make this more convenient and robust.
https://x.com/NEEDcreations/status/2084688145463771230
Specialised hardware such as Frostsnap attempts to verifiably distribute entropy generation across devices.
https://x.com/FrostsnapTech/status/2084040293897076849
Some users have taken to designing their own physical entropy devices that can generate a seedphrase nearly as quickly as a piece of electronic hardware.
https://x.com/L0RINC/status/2083761523424719110
Russia cracks down on 9 crypto exchanges in Moscow CityRussia’s Federal Security Service (FSB) has raided nine unregistered crypto exchange services in Moscow over alleged money laundering involving fraud proceeds that authorities linked to Ukraine-based scam call centers. The agency said it detained more than 20 employees at the Moscow International Business Center (Moscow City) as part of an operation targeting channels allegedly used to move illicit funds abroad through crypto assets, according to an official statement on Friday. The FSB said the exchanges converted money stolen from Russian victims of phone scams into cryptocurrency and transferred it to accounts belonging to what it described as Ukrainian handlers. The operation was carried out jointly by the FSB and Russia’s Interior Ministry. Authorities said some couriers aged 18 to 25 collected cash from victims and delivered it to the exchanges for conversion into crypto. The FSB said young people from Russian regions were recruited to work at the exchanges despite having limited financial literacy. The Interior Ministry launched a criminal investigation into large-scale fraud, an offense punishable by up to 10 years in prison under Russian law. The FSB said it is continuing to identify victims and assess potential compensation.

Russia cracks down on 9 crypto exchanges in Moscow City

Russia’s Federal Security Service (FSB) has raided nine unregistered crypto exchange services in Moscow over alleged money laundering involving fraud proceeds that authorities linked to Ukraine-based scam call centers.
The agency said it detained more than 20 employees at the Moscow International Business Center (Moscow City) as part of an operation targeting channels allegedly used to move illicit funds abroad through crypto assets, according to an official statement on Friday.
The FSB said the exchanges converted money stolen from Russian victims of phone scams into cryptocurrency and transferred it to accounts belonging to what it described as Ukrainian handlers.
The operation was carried out jointly by the FSB and Russia’s Interior Ministry. Authorities said some couriers aged 18 to 25 collected cash from victims and delivered it to the exchanges for conversion into crypto. The FSB said young people from Russian regions were recruited to work at the exchanges despite having limited financial literacy.
The Interior Ministry launched a criminal investigation into large-scale fraud, an offense punishable by up to 10 years in prison under Russian law. The FSB said it is continuing to identify victims and assess potential compensation.
Artículo
CEX perpetual futures volume falls to $4T, lowest since late 2023Crypto perpetual futures trading volume on centralized cryptocurrency exchanges (CEXs) fell to $4 trillion in July, marking a 31-month low last seen in December 2023. Binance led CEXs with $1.4 trillion in monthly perpetual futures volume, followed by OKX with $607 billion and Bybit with $300 billion, analytics platform CryptoRank said in a Friday X post. Perpetual futures volumes briefly recovered between April and June before declining across all major venues in July. The 31-month low in perpetual futures activity came as daily spot crypto trading volume fell 23.6% between July 1 and July 31, from $17.8 billion to $13.6 billion, according to analytics provider Coinglass. Source: CryptoRank Perps volume on DEXs nears one-year low Perpetual trading volume on decentralized exchanges (DEXs) fell to $531 billion in July, the lowest level since June 2025 and a 21% decline from the $676 billion seen in June 2026, according to data aggregator DefiLlama. Perpetuals trading volume on decentralized exchanges. Source: DefiLlama Perps trading volume on DEXs has trended lower since the $1.36 trillion seen in October 2025. Open interest on DEXs has also fallen to $17.9 billion in July from a peak of $19.4 billion in September 2025. Open interest measures the total value of active, unsettled contracts and can indicate whether new capital is entering or exiting the market. Hyperliquid was the leading DEX with $199 billion in reported trading volume over the past 30 days. A growing share of Hyperliquid’s trading volume has come from tokenized real-world assets (RWAs), which accounted for 32% of Hyperliquid’s second-quarter trading activity, generating 6.6% of the protocol’s $169 million quarterly revenue.  Tokenized assets became Hyperliquid’s largest trading category for the first time last month, with RWAs accounting for 52% of its total weekly trading volume between July 13 and July 19. Magazine: How Bitcoin and gold reacted differently to the Iran war shock

CEX perpetual futures volume falls to $4T, lowest since late 2023

Crypto perpetual futures trading volume on centralized cryptocurrency exchanges (CEXs) fell to $4 trillion in July, marking a 31-month low last seen in December 2023.
Binance led CEXs with $1.4 trillion in monthly perpetual futures volume, followed by OKX with $607 billion and Bybit with $300 billion, analytics platform CryptoRank said in a Friday X post.
Perpetual futures volumes briefly recovered between April and June before declining across all major venues in July.
The 31-month low in perpetual futures activity came as daily spot crypto trading volume fell 23.6% between July 1 and July 31, from $17.8 billion to $13.6 billion, according to analytics provider Coinglass.
Source: CryptoRank
Perps volume on DEXs nears one-year low
Perpetual trading volume on decentralized exchanges (DEXs) fell to $531 billion in July, the lowest level since June 2025 and a 21% decline from the $676 billion seen in June 2026, according to data aggregator DefiLlama.
Perpetuals trading volume on decentralized exchanges. Source: DefiLlama
Perps trading volume on DEXs has trended lower since the $1.36 trillion seen in October 2025.
Open interest on DEXs has also fallen to $17.9 billion in July from a peak of $19.4 billion in September 2025. Open interest measures the total value of active, unsettled contracts and can indicate whether new capital is entering or exiting the market.
Hyperliquid was the leading DEX with $199 billion in reported trading volume over the past 30 days. A growing share of Hyperliquid’s trading volume has come from tokenized real-world assets (RWAs), which accounted for 32% of Hyperliquid’s second-quarter trading activity, generating 6.6% of the protocol’s $169 million quarterly revenue.
Tokenized assets became Hyperliquid’s largest trading category for the first time last month, with RWAs accounting for 52% of its total weekly trading volume between July 13 and July 19.
Magazine: How Bitcoin and gold reacted differently to the Iran war shock
Artículo
Binance Bitcoin volume ratio hits record as futures outweigh spot eight times overBitcoin (BTC) derivatives trading volumes are now nearly eight times higher than spot markets on Binance. Key points: Bitcoin daily spot trading volumes on Binance are diverging from futures more than ever. Spot demand has declined in recent months, while futures demand is still net positive, per data from CryptoQuant. Options traders are hedging for downside in September after months of rangebound BTC price action. Binance sees record split in Bitcoin spot vs. futures trading Data from onchain analytics platform CryptoQuant released on Friday reveals record readings for Bitcoin futures-to-spot trading volume ratios. The ratio now stands at 7.82, meaning that futures volume outweighs spot nearly eight times over. Daily futures volume on Binance hit $57.82 billion this week, while spot trailed at $6.08 billion. “Meanwhile, Bitcoin is trading near $64,000, while futures trading volume continues to grow at a faster pace than spot trading volume,” CryptoQuant contributing analyst Arab Chain commented on the data.  “This trend reflects a shift in market activity, with more investors and traders preferring to use futures for leverage, risk management, and short-term trading strategies.” Bitcoin futures-to-spot trading volume ratio (screenshot). Source: CryptoQuant The record comes after months of retreating investor demand, with the exodus particularly noticeable in the retail trading sector. Previously, Cointelegraph reported that AI stocks have become a key destination for retail capital. CryptoQuant data shows that on a rolling 30-day basis, both spot and derivatives demand continue to deteriorate, with spot showing a more consistent decline since June.  BTC/USD has spent the past two months in a narrow range above $60,000, contributing to a lack of interest among spot traders. Traders initiated a major spike in onchain realized losses in February, when Bitcoin first dropped to the $60,000 mark. However, subsequent retests have seen lower volume as both buyers and sellers have become exhausted. Bitcoin net realized profit/loss data. Source: CryptoQuant “Bitcoin spot demand is weakening. Futures demand remains net positive, but is significantly lower than during the rebound three months ago,” CEO Ki Young Ju reported in a post on X late last month. Bitcoin spot vs. futures demand. Source: Ki Young Ju on X.com Traders position for September BTC price range breakdown Examining the odds of a Bitcoin price breakout from its local trading range this week, crypto exchange Bitfinex flagged decaying volume across both spot and derivatives markets. “For now, volumes cluster in the middle of the range and thin out near the extremes. Taker volume especially is a sign that neither side is pushing hard to break the range in either direction,” its analytics arm, Bitfinex Research, wrote in an update. Bitfinex said that options traders were positioned for rangebound conditions to continue in August, following a 7.4% gain for BTC/USD in July. In September, meanwhile, they expect the range to resolve to the downside, following familiar Bitcoin bear-market behavioral patterns. “Options traders are effectively pricing in a continuation of the range and, on aggregate, hedging for a downside resolution of it several weeks from now,” it added alongside data from onchain analytics platform Glassnode. Bitcoin options composite chart. Source: Bitfinex

Binance Bitcoin volume ratio hits record as futures outweigh spot eight times over

Bitcoin (BTC) derivatives trading volumes are now nearly eight times higher than spot markets on Binance.
Key points:
Bitcoin daily spot trading volumes on Binance are diverging from futures more than ever.
Spot demand has declined in recent months, while futures demand is still net positive, per data from CryptoQuant.
Options traders are hedging for downside in September after months of rangebound BTC price action.
Binance sees record split in Bitcoin spot vs. futures trading
Data from onchain analytics platform CryptoQuant released on Friday reveals record readings for Bitcoin futures-to-spot trading volume ratios. The ratio now stands at 7.82, meaning that futures volume outweighs spot nearly eight times over.
Daily futures volume on Binance hit $57.82 billion this week, while spot trailed at $6.08 billion.
“Meanwhile, Bitcoin is trading near $64,000, while futures trading volume continues to grow at a faster pace than spot trading volume,” CryptoQuant contributing analyst Arab Chain commented on the data.
“This trend reflects a shift in market activity, with more investors and traders preferring to use futures for leverage, risk management, and short-term trading strategies.”
Bitcoin futures-to-spot trading volume ratio (screenshot). Source: CryptoQuant
The record comes after months of retreating investor demand, with the exodus particularly noticeable in the retail trading sector. Previously, Cointelegraph reported that AI stocks have become a key destination for retail capital.
CryptoQuant data shows that on a rolling 30-day basis, both spot and derivatives demand continue to deteriorate, with spot showing a more consistent decline since June.
BTC/USD has spent the past two months in a narrow range above $60,000, contributing to a lack of interest among spot traders. Traders initiated a major spike in onchain realized losses in February, when Bitcoin first dropped to the $60,000 mark. However, subsequent retests have seen lower volume as both buyers and sellers have become exhausted.
Bitcoin net realized profit/loss data. Source: CryptoQuant
“Bitcoin spot demand is weakening. Futures demand remains net positive, but is significantly lower than during the rebound three months ago,” CEO Ki Young Ju reported in a post on X late last month.
Bitcoin spot vs. futures demand. Source: Ki Young Ju on X.com
Traders position for September BTC price range breakdown
Examining the odds of a Bitcoin price breakout from its local trading range this week, crypto exchange Bitfinex flagged decaying volume across both spot and derivatives markets.
“For now, volumes cluster in the middle of the range and thin out near the extremes. Taker volume especially is a sign that neither side is pushing hard to break the range in either direction,” its analytics arm, Bitfinex Research, wrote in an update.
Bitfinex said that options traders were positioned for rangebound conditions to continue in August, following a 7.4% gain for BTC/USD in July. In September, meanwhile, they expect the range to resolve to the downside, following familiar Bitcoin bear-market behavioral patterns.
“Options traders are effectively pricing in a continuation of the range and, on aggregate, hedging for a downside resolution of it several weeks from now,” it added alongside data from onchain analytics platform Glassnode.
Bitcoin options composite chart. Source: Bitfinex
Inicia sesión para explorar más contenidos
Únete a usuarios globales de criptomonedas en Binance Square
⚡️ Obtén información útil y actualizada sobre criptos.
💬 Avalado por el mayor exchange de criptomonedas en el mundo.
👍 Descubre perspectivas reales de creadores verificados.
Email/número de teléfono
Mapa del sitio
Preferencias de cookies
Términos y condiciones de la plataforma