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Crypto & Web3CoinDesk ·

Coldcard Warns Users to Move Bitcoin Amid Ongoing Unpatched Exploit

Hardware wallet manufacturer Coldcard has urged its users to transfer their bitcoin holdings due to an active security vulnerability. The flaw has already been linked to approximately $114 million in losses and has not yet been fully patched. Certain specific Coldcard device models and firmware versions remain exposed to the exploit. The company issued the warning as the threat continues to be live and ongoing.

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Crypto & Web3CoinDesk ·

South Africa Drafts Rules Requiring Authorized Providers for Cross-Border Crypto

South African lawmakers have introduced a draft regulatory framework governing cross-border cryptocurrency transactions. Under the proposed rules, any transfer of crypto assets to foreign destinations must be carried out through an authorized service provider. The draft also mandates that such transactions be reported to FinSurv, the financial surveillance department of the South African Reserve Bank. The proposal signals a move toward greater oversight of digital asset flows across South Africa's borders.

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Crypto & Web3CoinDesk ·

Bitcoin Climbs Toward $64,000 as Coldcard Hack and Strategy Sell-Off Fears Ease

Bitcoin moved higher, approaching the $64,000 mark as market turbulence from the weekend began to subside. Two key pressures had weighed on sentiment: a security exploit targeting Coldcard hardware wallets and a round of Bitcoin sales by Strategy. Despite the price recovery, the overall market mood continued to register in the 'extreme fear' zone. Cardano's ADA also posted gains amid the broader partial stabilization of crypto markets.

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Crypto & Web3CoinDesk ·

BlackRock launches tokenized money market fund access in Europe

BlackRock has debuted tokenized access to its money market funds in Europe, covering a pool worth $311 billion. The move follows the asset manager's earlier expansion of its U.S. tokenized cash platform this week. That U.S. expansion included offering onchain shares of an existing fund. BlackRock also introduced a new daily reinvestment stablecoin fund as part of the broader initiative.

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Crypto & Web3CoinDesk ·

Hashdex to Close US Spot Bitcoin ETF Amid Weak Inflows and AI Investment Shift

Hashdex is shutting down DEFI, its US spot bitcoin ETF, marking the first closure among funds in this category. The fund managed only $14.7 million in assets, a stark contrast to BlackRock's IBIT, which holds $47.08 billion under management. Dwindling inflows have been cited as a key factor behind the decision to wind down the product. Investors appear to be redirecting capital toward artificial intelligence-related opportunities rather than crypto funds. The closure highlights the growing competitive gap between smaller and larger players in the spot bitcoin ETF market.

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Crypto & Web3CoinDesk ·

US and Japan intervene jointly to support yen for first time since 1998

Japan is estimated to have spent up to $36.6 billion buying yen in a rare joint currency intervention with the United States. This marks the first such coordinated action between the two countries since 1998, aimed at curbing a disorderly decline in the yen. The move comes as Bitcoin traded around $63,600, with currency market turbulence testing carry-trade dynamics. Bitget Wallet analyst Alvin Kan noted the intervention may slow the yen's slide but is unlikely to reverse the broader downward trend.

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Crypto & Web3CoinDesk ·

Bhutan's Gelephu City partners with 3iQ to actively manage Bitcoin treasury

Bhutan's planned Gelephu Mindfulness City (GMC) has announced a partnership with crypto asset manager 3iQ to actively manage a portion of its Bitcoin holdings. The arrangement will see 3iQ operate the funds on a market-neutral basis, marking a strategic shift in how the city handles its digital assets. This move comes after GMC pledged a treasury of 10,000 BTC as part of its broader financial strategy. Rather than simply holding Bitcoin as a long-term national reserve, GMC is now putting a share of those holdings to work in the market. The decision signals a more dynamic approach to sovereign crypto asset management among nation-level entities.

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Crypto & Web3CoinDesk ·

Jim Cramer Sells Bitcoin Over Quantum Fears, But Crypto Community Stays Calm

CNBC host Jim Cramer has announced he is selling his bitcoin holdings, citing concerns over the potential threat of quantum computing to cryptocurrency security. Despite his warning, bitcoin's price has remained stable at around $64,000. The crypto community has largely dismissed Cramer's alarm, pointing to his historically poor track record in predicting crypto and banking market outcomes. His past calls on financial assets have frequently moved in the opposite direction of his predictions, earning him a contrarian reputation among investors.

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Crypto & Web3CoinDesk ·

XRP Holders Can Now Borrow RLUSD on Ethereum via $280M Lending Pool

XRP holders now have the ability to borrow Ripple's stablecoin RLUSD using their XRP as collateral on the Ethereum network. The arrangement is facilitated through a $280 million lending vault that previously had not accepted any XRP-linked asset. This development allows XRP holders to access liquidity without needing to sell their holdings. The move marks a notable integration between the XRP ecosystem and Ethereum-based decentralized finance infrastructure.

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Crypto & Web3CoinDesk ·

Solana Proposal Eyes 13x Jump in Daily SOL Burns Amid Fee and Supply Overhaul

A new Solana governance proposal, SGP-0003, aims to dramatically increase daily SOL token burns from $47,000 to $650,000. The proposal also includes a comprehensive fee structure overhaul and would double the network's disinflation rate. To advance to a formal vote, it requires an additional 40 million SOL worth of validator support. The proposal faces a two-week window to gather the necessary backing from the validator community. If passed, the changes would represent a significant shift in Solana's tokenomics and monetary policy.

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Crypto & Web3CoinDesk ·

Bitcoin Approaches $64,000 as Most Crypto Tokens Post Weekly Gains

Bitcoin rose approximately 1.9% over a 24-hour period, pushing its price close to the $64,000 mark. Nearly all major cryptocurrency tokens recorded gains for the week, with ether being the notable exception. The broader crypto market's upward movement came even as Asian equity markets sold off amid concerns over AI-related trade positions. Traders appeared to look past recent market uncertainties, maintaining bullish momentum in the digital asset space.

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Crypto & Web3CoinDesk ·

Dormant Bitcoin Wallet From 2013 Moves $31M Amid Wave of Old Coin Activity

A Bitcoin wallet that had been inactive for 12 years transferred approximately $31 million worth of cryptocurrency on Monday. The movement is not an isolated incident, as it is part of a broader trend of long-dormant wallets becoming active. Analysts have linked this wave of activity to the aftermath of the Coldcard hack. Multiple old wallets appear to have been prompted into action around the same period, raising questions about the security of legacy cold storage solutions.

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Crypto & Web3CoinDesk ·

FBI Agent with Top Secret Clearance Arrested Over $1M Crypto Theft

A U.S. FBI intelligence agent has been arrested on charges related to the theft of approximately $1 million in cryptocurrency. The agent, who held top secret security clearance, was based at FBI headquarters. Authorities allege the agent stole the digital assets from cryptocurrency wallets that had been seized or investigated by the agency. The case raises serious concerns about insider misconduct within one of the country's most sensitive law enforcement bodies.

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Crypto & Web3CoinDesk ·

American Bitcoin President Matt Prusak Exits to Join AI Power Firm Giga Energy

Matt Prusak, president of American Bitcoin, is departing the Eric Trump-backed cryptocurrency mining company. He will be joining Giga Energy, a firm focused on artificial intelligence power infrastructure. The move underscores a broader industry shift toward energy and data center development. American Bitcoin has not yet announced a replacement for Prusak's role.

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Crypto & Web3CoinDesk ·

US-Japan Currency Move Revives Yen Carry Trade Concerns for Bitcoin

A coordinated intervention by the United States and Japan caused the yen to strengthen sharply against the dollar. The move has reignited fears around the yen carry trade and its potential impact on bitcoin prices. The carry trade, where investors borrow in low-interest yen to fund higher-yielding assets like crypto, can unwind rapidly when the yen rises. However, analysts note that bitcoin's recent price behavior shows a stronger correlation with US dollar strength than with yen dynamics. This suggests that a stronger dollar, rather than carry trade unwinding, may pose the greater risk to bitcoin in the near term.

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Crypto & Web3CoinDesk ·

Morgan Stanley Downgrades Circle, Cuts Price Target Amid Growth Concerns

Morgan Stanley has downgraded Circle, the stablecoin issuer behind USDC, and reduced its price target for the company. The bank cited several headwinds that could pressure Circle's future earnings. Key concerns include the rise of tokenized money market funds and the Open USD initiative, both seen as competitive threats. Slower growth in USDC adoption was also flagged as a potential drag on the company's financial performance. Following the downgrade, Circle's stock slid in response to the revised outlook.

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Crypto & Web3CoinDesk ·

Crypto markets face further decline if Clarity Act stalls, Bernstein warns

Brokerage firm Bernstein has cautioned that cryptocurrency markets could see another downturn if the Clarity Act fails to pass in the current year. The warning highlights the significant role U.S. legislative progress plays in shaping crypto market sentiment. Despite the risk, Bernstein expects American regulators to speed up the process of establishing clearer crypto rules. The firm's outlook suggests that regulatory momentum, whether through legislation or accelerated rulemaking, will be a key driver for the sector's direction.

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Crypto & Web3CoinDesk ·

BlackRock Launches Blockchain-Based Money Market Funds for Stablecoin Reserves

BlackRock is expanding its tokenized cash offerings by introducing new blockchain-based money market funds. The funds are designed to serve as eligible reserve assets for U.S. payment stablecoin issuers. Both offerings are structured to comply with the requirements outlined under the GENIUS Act, a proposed U.S. stablecoin regulatory framework. The move signals BlackRock's growing push into the intersection of traditional finance and digital asset infrastructure.

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Crypto & Web3CoinDesk ·

Bitmine Expands Ether Holdings and Stock Buyback Program

Bitmine, chaired by Tom Lee, increased its ether holdings and expanded its stock buyback program last week. Lee pointed to ether's strong performance relative to the Nasdaq in July as a key factor behind the decision. He interpreted this outperformance as a sign of improving fundamentals in the broader cryptocurrency market. The moves reflect Bitmine's growing confidence in digital assets as a strategic investment.

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