Digital Asset plans a Canton welfare benefits pilot across three U.S. states with the American Idea Foundation. The RISE program is targeted for launch in the first quarter of next year and awaits federal government approval.
BounceBit Chain Shuts Down After $3M BB Token Exploit
BounceBit will shut down its blockchain after attackers stole more than $3.1 million of BB tokens through an authorization vulnerability. Attackers moved 286 million BB tokens from nine BounceBit Chain wallets between August 19 and August 20. BounceBit plans to reissue eligible BB holdings as BEP-20 tokens on BNB Chain.
Ava Labs CBO Sees More Opportunity Despite Market Slump
Ava Labs Chief Business Officer John Nahas said the crypto market is underperforming on price but offers more practical opportunities than he has seen before. Nahas said Avalanche is focused on enterprise payments, government adoption, digital identity, and blockchain-based ticketing.
Bitcoin Tops $75,500 as $2.75B in Shorts Are Liquidated
Bitcoin rose above $75,500, gaining more than 8.9% over the prior 24 hours. The move followed a Treasury announcement that it would at least double liquidity support buybacks for longer-dated securities. Coinglass data showed more than $2.75 billion in Bitcoin short positions were liquidated on Aug. 19.
Shinhan Asset Management, which manages about 133.6 trillion won ($96.6 billion), signed a four-party MoU to test a Korean won-denominated tokenized fund on Solana. The proof-of-concept involves the Solana Foundation, Etherfuse, and Orca.
Pakistan Opens Crypto Licensing Under Virtual Assets Act
Pakistan opened a licensing portal under its Virtual Assets Act, ending nearly eight years of crypto prohibition. The framework creates Pakistan’s first comprehensive rules for virtual assets and service providers. Bilal Bin Saqib invited foreign businesses to obtain licenses and build operations in Pakistan.
Tech support scammers stole thousands of dollars from an elderly North Kingstown woman after gaining remote access to her computer and finances. Suspects later visited her home while claiming to provide technical support.
Goldman Sachs analysts said rising gold call option demand has increased the risk of sharp gold price swings. The analysts said gold could reach $4,900 per ounce by the end of 2026, but the upward path could face greater two-way volatility.
Galaxy Research found that 43 of 106 Bitcoin 50-day moving-average reclaims failed during past bear markets. The 50-week moving average failed only twice across 13 reclaims.
US Charges 17 in Iran-Linked HBO Hack Tied to $6M Bitcoin Extortion
US prosecutors charged 17 people in an Iran-linked hacking case tied to a roughly $6 million Bitcoin extortion attempt against HBO. The 14-count superseding indictment adds eight defendants to a case first brought in 2018. Six newly added defendants are accused of participating in the 2017 HBO intrusion.
UAE Detentions Raise Questions Over Binance Bank Accounts
UAE police detained Binance employees at airports this summer and held one employee overnight in Sharjah. Binance said the employees were promptly cleared and released after inquiries involving third-party fund flows. No UAE regulator has publicly accused Binance of misconduct over the detentions.
Bitcoin broke $79,000 as shares of Bitcoin mining firms and digital asset treasury companies rose. Canaan gained more than 25%, while Strive gained more than 16% on Friday. Trump said the U.S. government may purchase Bitcoin on a large scale in the future.
STS Digital CEO Maxime Seiler said crypto asset prices remain in winter despite institutional adoption entering summer. Seiler said institutions are adopting underlying technology rather than directly allocating capital to tokens.
CoinShares expects Bitcoin to remain rangebound below $80,000 in the short term. CoinShares said a clearer upside breakout would require the Federal Reserve to confirm a shift away from additional tightening.
Kaito AI open-sourced its Kaito Pulse browser extension after privacy concerns emerged following its Aug. 18 launch. Kaito founder Yu Hu pledged to release the source code on Aug. 19, and Kaito submitted Pulse for Google Chrome Web Store review.
U.S. spot Bitcoin ETFs recorded $606.29 million of inflows on Thursday, their largest daily total since May 1. BlackRock's IBIT received $502.99 million, or about 83% of the total. The four-session inflow streak reached about $1.61 billion.
Digital Asset, Ryan Foundation Plan Canton Pilot in Three States
Digital Asset and Paul Ryan’s American Idea Foundation plan a Canton Network pilot across three US states. The RISE program is expected to launch in the first quarter of 2027 and remains subject to federal approval. The system would combine benefits into monthly or twice-monthly payments with spending rules.
Strategy Shares Hit Two-Month High as STRC Recovers Toward $100
Strategy shares rose 7.5% above $120 as STRC climbed above $96 for the first time since June. Strategy sold $333.7 million of MSTR shares between Aug. 10 and Aug. 16 without buying or selling Bitcoin. The company directed $52.4 million of the proceeds to STRC dividends and $132.2 million to STRC repurchases.