U.S. inflation, Coinbase’s Deribit switch: Crypto Week Ahead

Your look at what's coming in the week starting Sept. 7.
This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Your look at what's coming in the week starting Sept. 7.
This is an AI-generated summary. ShortSingh links to the original source for the complete article.
A hacker responsible for a series of Coldcard wallet thefts has moved approximately $7.7 million worth of Bitcoin. According to Galaxy Research, the attacker has now emptied the 11 largest vaults associated with the third wave of these thefts. The moved funds represent around 45% of the total Bitcoin stolen during this latest attack wave. The incident highlights ongoing security concerns surrounding Coldcard hardware wallets and their users.

Bitcoin declined and U.S. Treasury yields climbed on Friday following the release of the latest jobs report. Markets initially reacted in a hawkish manner, suggesting expectations of tighter monetary policy. However, Federal Reserve interest rate hike probabilities remained largely unchanged after the data. Analysts note that the market reaction appears exaggerated relative to the actual shift in Fed policy expectations.

U.S. August payroll figures came in at roughly three times the expected forecast, signaling a resilient labor market. The stronger-than-anticipated jobs data pushed the probability of a September interest rate hike to approximately 58%. Equity markets responded negatively to the news, selling off on concerns over tighter monetary policy. Cryptocurrency markets, however, showed resilience, with Bitcoin holding steady above $79,000. Zcash also posted notable gains, surging around 45% over the past week.

Harmony's developers have proposed voluntarily shutting down their ONE blockchain network, citing mounting security challenges. The team argues that threats from state actors and AI agents have made maintaining the network's security increasingly untenable. Rather than continuing operations, developers plan to redirect ONE token emissions toward an AI video business. The proposal marks a dramatic reversal for a project that was once considered a prominent Ethereum competitor.

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