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Crypto & Web3CoinDesk ·

Bank of Korea to pilot live CBDC transactions with 9 banks in September

The Bank of Korea is preparing to launch a live central bank digital currency (CBDC) pilot in September. The test will involve nine commercial banks participating in a large-scale blockchain network trial. Retail consumers will be able to conduct real transactions using a tokenized version of the South Korean won. The pilot aims to assess the feasibility of digital currency transfers across multiple commercial banking lines.

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Crypto & Web3CoinDesk ·

Crypto Slides Despite Stock Gains as Fear Sentiment Dominates Markets

Cryptocurrency prices declined during a recent trading session even as stock index futures moved higher, reflecting a divergence between the two asset classes. Market sentiment in the crypto space remained firmly in 'fear' territory, according to the Fear and Greed Index. The broader digital asset market saw little notable activity, making for a relatively quiet session overall. The standout mover was PUMP, which surged approximately 20% amid heightened social media chatter surrounding the token.

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Crypto & Web3CoinDesk ·

Hyperliquid to Launch Decentralized Prediction Markets via HIP-4 Upgrade

Hyperliquid has announced plans to introduce permissionless prediction markets as part of an upgrade to its HIP-4 protocol. The new feature will allow users to participate in decentralized prediction markets without requiring permission. The rollout will follow a staged approach, beginning on testnet before eventually moving to the mainnet. This upgrade marks a significant expansion of Hyperliquid's decentralized finance offerings.

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Crypto & Web3CoinDesk ·

Allbridge suspends operations after $1.65M flash loan attack

Cross-chain protocol Allbridge has halted its operations following a flash loan exploit that resulted in losses of approximately $1.65 million. The attacker borrowed $1.12 million via Kamino, a decentralized lending platform, to execute the scheme. By using the flash loan, the exploiter manipulated the liquidity pool ratios within the Allbridge protocol. This manipulation allowed the attacker to withdraw assets at artificially favorable rates before moving the funds across chains.

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Crypto & Web3CoinDesk ·

Amazon Japan supplier to pay 2,300 partners using yen-pegged stablecoin JPYC

Japanese logistics company AZ-Com Maruwa, a supplier for Amazon Japan, has announced plans to adopt the yen-backed stablecoin JPYC for business payments. The firm intends to use the digital currency to pay approximately 2,300 partners, including truck drivers. This initiative is being described as Japan's first large-scale corporate deployment of a stablecoin for payment purposes. The move signals a growing interest among Japanese businesses in integrating digital assets into everyday financial operations.

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Crypto & Web3CoinDesk ·

Bitcoin Slips Below $64,000 Amid Rising Oil Prices and AI Stock Selloff

Bitcoin fell below $64,000 as multiple macroeconomic pressures weighed on risk assets. Oil prices rose sharply, driven by escalating geopolitical tensions linked to conflict. Meanwhile, the ongoing selloff in AI-related stocks, triggered by China's Kimi AI, continued to drag down semiconductor and tech shares. Bitcoin found itself caught between these two opposing market forces, reflecting broader investor uncertainty. The confluence of energy market volatility and tech sector weakness contributed to the cryptocurrency's decline.

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Crypto & Web3CoinDesk ·

Moonshot AI Eyes $30B Hong Kong IPO Amid China AI Surge

Chinese AI startup Moonshot AI is moving toward an initial public offering on the Hong Kong stock exchange, targeting a valuation exceeding $30 billion. The development follows the recent release of Kimi K3, Moonshot's AI model, which caused notable turbulence in chip stocks. Alibaba has also made waves in the AI space by releasing its Qwen model as an open-weight system, signaling a broader push by Chinese tech firms. The back-to-back announcements reflect an accelerating wave of AI activity from China that has reverberated across global financial markets, including cryptocurrency prices.

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Crypto & Web3CoinDesk ·

Bitcoin ETFs Draw $273M in Two Weeks, Far Short of Recent Outflow Levels

Bitcoin exchange-traded funds have recorded $273 million in fresh inflows over the past two weeks, signaling a modest return of investor interest. However, analysts note the figure is negligible compared to the scale of recent selling pressure the funds have experienced. The amount is roughly equivalent to what a single slow week of outflows looked like during the recent exodus. This suggests that while sentiment may be cautiously improving, a meaningful recovery in ETF demand has yet to materialize.

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Crypto & Web3CoinDesk ·

Bitcoin Holds Near $64K as Oil Surges on US-Iran Tensions

Bitcoin remained largely unchanged near the $64,000 mark as broader market forces dominated sentiment. Brent crude oil surged nearly 4%, reaching a one-month high amid escalating tensions stemming from U.S.-Iran military strikes. Meanwhile, Asian semiconductor stocks continued to face selling pressure following a shock triggered by Chinese AI startup Kimi's emergence on Friday. The ripple effects of that AI-driven selloff lingered across regional chip markets into the new trading week.

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Crypto & Web3CoinDesk ·

GENIUS Act Marks One Year Since Becoming US Stablecoin Law

The GENIUS Act, landmark legislation focused on regulating stablecoins, has reached its one-year anniversary as a law. The act represented a significant moment for cryptocurrency regulation in the United States. Its passage marked one of the first major federal efforts to establish a legal framework specifically for stablecoins. The anniversary has prompted reflection on the state of crypto regulation since the bill was signed into law.

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Crypto & Web3CoinDesk ·

Michael Saylor Opposes BIP-110, Warns Against Bitcoin Blockchain Censorship

MicroStrategy executive chairman Michael Saylor has publicly criticized BIP-110, a proposed protocol change aimed at temporarily filtering so-called spam data from the Bitcoin blockchain. Saylor argues the proposal would compromise Bitcoin's core principle of network neutrality. He warns that allowing selective blocking of transactions sets a dangerous precedent that could open the door to broader censorship on the network. The prominent Bitcoin advocate believes such intervention would ultimately harm the integrity and trustworthiness of the blockchain.

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Crypto & Web3CoinDesk ·

Zero-Knowledge Proofs Could Counter Threats Posed by Autonomous AI Agents

Brian Trunzo, chief growth officer at Succinct Labs, argues that the growing presence of autonomous AI agents is posing serious risks to the integrity of the internet. He contends that zero-knowledge proofs, a cryptographic mathematical tool, represent a viable solution to this challenge. Zero-knowledge proofs allow one party to verify the truth of information without revealing the underlying data itself. Trunzo's argument highlights the increasing urgency for robust technical safeguards as AI agents become more prevalent online.

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Crypto & Web3CoinDesk ·

GENIUS Act Deadline Looms: USDT Faces Potential Delisting from US Platforms by 2028

The GENIUS Act, a U.S. stablecoin regulation law, has passed its first anniversary without regulators completing the required rulemaking. Tether's USDT, a widely used stablecoin, now faces a roughly two-year window to comply with the forthcoming regulations. U.S. regulators have missed initial deadlines to draft the necessary rules, though full compliance is mandated by July 2028. If USDT fails to meet the regulatory requirements, it risks being removed from American cryptocurrency platforms. The situation puts pressure on Tether to align its operations with U.S. standards ahead of the deadline.

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Crypto & Web3CoinDesk ·

Kraken launches USD-settled Bitcoin and Ether options to boost derivatives adoption

Crypto exchange Kraken has introduced USD-settled options contracts for Bitcoin and Ether, marking a new step in its derivatives offerings. The Wyoming-based company believes that poor product design, rather than a lack of investor interest, has been the primary barrier to wider crypto derivatives adoption. By simplifying the structure of its options products, Kraken aims to make derivatives more accessible to a broader range of traders. The firm sees this launch as a potential catalyst for unlocking significant growth in the crypto derivatives market.

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Crypto & Web3CoinDesk ·

Project Eleven builds quantum recovery tool for Bitcoin wallets, excludes Satoshi's coins

Project Eleven has developed a proof-of-concept tool designed to help Bitcoin wallet owners recover access if quantum computers become capable of forging cryptographic signatures. The solution uses a wallet's own key-derivation path as a form of ownership verification, bypassing the need for traditional signatures. The tool is notably lightweight, running in just 243 milliseconds on a standard laptop. However, the recovery mechanism does not apply to Satoshi Nakamoto's estimated 1.1 million coins, which lack the necessary derivation path data. The development highlights growing efforts within the crypto community to address quantum computing threats to blockchain security.

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Crypto & Web3CoinDesk ·

Zcash unveils Zakura node aiming to scale private transactions to 50,000 per second

Zcash has introduced a new node client called Zakura, designed to dramatically increase the network's private transaction throughput. The client is the first live component of a broader plan to scale Zcash to payment-network levels comparable to Visa. Currently, Zcash processes approximately one private transaction per second, making the proposed leap to 50,000 transactions per second a significant technical ambition. Zakura represents an early but concrete step toward achieving that large-scale privacy infrastructure.

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Crypto & Web3CoinDesk ·

France Orders ISPs to Block Prediction Market Platform Polymarket

French authorities have directed the country's internet service providers to block access to Polymarket, a popular prediction market platform. The regulator raised concerns about addictive design mechanics built into the platform. Officials also noted the absence of self-exclusion tools, which are typically required to help users manage problematic usage. A significant number of French users had reportedly been circumventing earlier financial restrictions to access the site, prompting the escalated response.

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Crypto & Web3CoinDesk ·

Crypto Leaders Say Gen Z May Skip Traditional Banking Altogether

Teakhouse Financial co-founder Adrian Cachinero has suggested that digitally native generations may have little need for conventional bank accounts. His comments reflect a broader shift in how younger consumers are approaching personal finance. Binance has added weight to this view, noting that younger users are already leading cryptocurrency adoption in emerging markets. The trend points to growing confidence in crypto as a primary financial tool among the next generation of users.

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Crypto & Web3CoinDesk ·

DOG Mode Client Reignites Debate Over Who Controls Bitcoin's Network Rules

A new Bitcoin client called DOG Mode, introduced by a developer known as Leonidas, is challenging the network's default transaction relay policies. The client proposes alternative rules for what transactions nodes will forward, putting it at odds with Bitcoin's established defaults. This has reignited a long-standing philosophical debate within the Bitcoin community about censorship resistance and free-market principles. The dispute raises a fundamental question about governance: who ultimately has the authority to set the rules of the Bitcoin network. The development signals that a significant disagreement over Bitcoin's future direction may be on the horizon.

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