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Crypto & Web3CoinDesk ·

Metaplanet CEO Addresses Shareholder Concerns but Key Questions Linger

Metaplanet CEO Simon Gerovich has publicly responded to shareholder scrutiny surrounding the company's business dealings. Gerovich acknowledged that Metaplanet had not sufficiently explained its structural arrangements to investors. He also denied having any involvement in the trading decisions made by MMXX Ventures. Despite his statement, shareholders say the response fell short of addressing their most pressing concerns. The episode highlights growing investor demand for greater transparency from the Bitcoin-focused firm.

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Crypto & Web3CoinDesk ·

Hunter Biden launches LAPTOP memecoin on Base blockchain with burn mechanism

Hunter Biden has launched a memecoin called LAPTOP on the Base blockchain network. The token made its debut on Wednesday, entering a crowded market of politically themed cryptocurrencies. Nearly one-third of the total token supply is slated to be burned, contingent on a specific set of political and market conditions being met. Among the conditions tied to the burn mechanism is a Democratic Party victory in the 2028 U.S. presidential election. The project appears to be positioned as a counter to Trump-affiliated crypto tokens, targeting holders of rival political memecoins.

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Crypto & Web3CoinDesk ·

Poland charges fifth suspect in $94M crypto exchange fraud probe

Polish prosecutors have charged a fifth suspect in connection with a major cryptocurrency fraud investigation. The case centres on Zondacrypto, a crypto exchange formerly known as BitBay, which rebranded in 2021. The platform halted all trading activity in April after customers found themselves unable to withdraw their funds. Estimated customer losses from the frozen withdrawals stand at a minimum of $94 million.

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Crypto & Web3CoinDesk ·

Stablecoin Wallets Emerge as Potential Rivals to Traditional Bank Accounts

A growing debate has emerged in the financial industry over whether stablecoin-based digital dollar wallets could replace traditional bank accounts for everyday consumers. Industry leaders are divided on whether the shift represents a fundamental disruption or merely a modernization of existing financial infrastructure. Stablecoins, which are cryptocurrencies pegged to fiat currencies like the US dollar, have gained traction as a practical tool for storing and transferring money digitally. The discussion reflects broader questions about how rapidly evolving digital finance technologies may reshape the way consumers manage their money. No consensus has been reached, with some experts viewing stablecoin wallets as complementary to banks rather than a replacement.

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Crypto & Web3CoinDesk ·

Ethereum to allow gas fee payments without holding ETH in upcoming upgrade

Ethereum is set to introduce a feature that will allow users to pay transaction fees without needing to hold ETH. The capability, known as Frame Transactions, was formally included in the planned Hagotá network upgrade last month. Co-founder Vitalik Buterin has noted that development progress on this feature has been moving at a rapid pace. The change is expected to lower a key barrier to entry for new users interacting with the Ethereum network.

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Crypto & Web3CoinDesk ·

Solana Activates Transaction v1 to Triple Transaction Size for Complex Operations

Solana is set to activate its Transaction v1 feature on Wednesday, significantly expanding the network's transaction capacity. The upgrade will triple the size of transactions, enabling complex cryptographic proofs and large multisig operations to be processed within a single transaction. This change is designed to give decentralized applications more room to execute sophisticated trades and operations. However, the update will require services that read Solana's blockchain data to update their systems to remain compatible.

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Crypto & Web3CoinDesk ·

DBS and Citi execute weekend USD transfer via Swift blockchain ledger

DBS Bank and Citi have successfully completed a US dollar payment over a weekend using Swift's Digital Ledger Technology with tokenized deposits. The transaction marks the second confirmed live use of Swift's blockchain-based payment infrastructure. The milestone is significant as it demonstrates the ability to process settlements outside traditional banking hours. Swift is pushing to prove its relevance as competition grows from digital payment networks that operate around the clock.

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Crypto & Web3CoinDesk ·

UK FCA Considers Relaxing Ban on Financial Prediction Markets

The UK's Financial Conduct Authority (FCA) is reportedly weighing a potential easing of its ban on financial prediction markets. The regulator is said to have held discussions with trading platforms about the possibility. This comes as growing numbers of British users are turning to offshore platforms such as Polymarket and Kalshi to place event-driven bets. Despite the reported talks, the FCA's official public stance continues to support maintaining the existing ban.

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Crypto & Web3CoinDesk ·

Report Warns Two-Key Exploit Could Give Hackers Control of $91B in USDT

A new report has flagged a critical security vulnerability in Tether's USDT stablecoin, warning that a two-key breach could hand hackers control of approximately $91 billion in assets. The findings emerged from a rating agency's newly developed framework that blends traditional Wall Street financial auditing with Web3 code review methodologies. The framework is designed to assess both off-chain reserves and on-chain security systems simultaneously. By combining these two approaches, the agency aims to provide a more comprehensive risk evaluation for stablecoin issuers. The report underscores growing concerns about the security architecture underpinning major stablecoins in the digital asset space.

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Crypto & Web3CoinDesk ·

Bitcoin Dips 1.1% as Weekend Altcoin Rally Loses Momentum

Bitcoin declined 1.1% from midnight UTC on Monday, reversing a positive weekend trend in the crypto market. Nasdaq 100 futures, by contrast, edged up 0.3%, highlighting a divergence between crypto and traditional equity markets. Altcoins, which had posted double-digit gains over the weekend, also stalled alongside Bitcoin's retreat. The brief altcoin rally appears to have run its course as broader market sentiment shifted at the start of the trading week.

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Crypto & Web3CoinDesk ·

Bitcoin Faces $83,000 Resistance as Whales Turn Net Sellers

Bitcoin is encountering significant selling pressure at the $83,000 price level, where a notable sell wall has formed. For the first time since early June, all wallet cohorts — across different holder sizes — have shifted into net distribution mode. This means investors broadly are selling more than they are accumulating, a bearish signal for near-term price action. Whale wallets, which hold large amounts of Bitcoin, have notably flipped to net selling, adding to the downward pressure. However, a potential golden cross pattern forming on the charts offers some optimism for bulls hoping for a trend reversal.

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Crypto & Web3CoinDesk ·

Hacker Moves $7.7M in Bitcoin from Coldcard Wallets in Third Attack Wave

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.

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Crypto & Web3CoinDesk ·

Jobs Report Triggers Bitcoin Dip and Treasury Yield Rise, But Fed Odds Unchanged

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.

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Crypto & Web3CoinDesk ·

Bitcoin Holds Above $79,000 as Strong Jobs Data Lifts Rate Hike Odds

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.

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Crypto & Web3CoinDesk ·

Harmony developers propose shutting down blockchain amid AI and security concerns

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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Crypto & Web3CoinDesk ·

ZCAT Memecoin Distributes $2.8M in Zcash to Holders via 3% Transaction Tax

A new cat-themed memecoin called ZCAT has distributed $2.8 million worth of Zcash (ZEC) to its token holders. The project applies a 3% tax on every ZCAT transaction, with the collected funds automatically used to reward holders in ZEC. This mechanism creates a direct financial link between the memecoin and Zcash, which has recently surged past $1,200. The model is unusual in the memecoin space, as it ties speculative token activity to payouts in an established privacy-focused cryptocurrency.

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Crypto & Web3CoinDesk ·

Bitcoin Slips 1% as U.S.-Iran Tensions Drive Oil Prices Higher

Bitcoin declined by nearly 1% amid rising geopolitical tensions between the United States and Iran. The drop came as the U.S. carried out strikes on Iranian crude oil carriers, escalating hostilities between the two nations. The military action triggered a rise in global oil prices, reflecting market anxiety over potential supply disruptions. Investors appeared to shift sentiment in response to the heightened conflict, weighing on cryptocurrency markets.

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Crypto & Web3CoinDesk ·

Liquid Network halts transactions after $320 million Bitcoin security exploit

Liquid Network, a Bitcoin settlement layer widely used by cryptocurrency exchanges, suffered a major security breach resulting in the loss of approximately $320 million worth of Bitcoin. Following the attack, the network suspended all transactions to prevent further losses. The hackers responsible for the exploit publicly claimed they were acting as 'good guys,' though no further details about their intentions were immediately provided. The incident has raised serious concerns about the security of settlement infrastructure relied upon by crypto exchanges.

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