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Crypto & Web3CoinDesk ·

Controversial Bitcoin Fork BIP-110 Mines Two Blocks Before Stalling

A controversial Bitcoin fork known as BIP-110 managed to mine only two blocks before its activity came to a halt. The breakaway chain inherited Bitcoin's full mining difficulty despite having access to just a small fraction of the network's total hashpower. This mismatch caused blocks to be produced hours apart rather than at the standard ten-minute interval. During this period, both the original Bitcoin chain and the fork continued to accept the same transactions simultaneously.

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Crypto & Web3CoinDesk ·

Bitcoin reaches block 961,632 as contested BIP-110 soft fork attempt gets underway

Bitcoin has reached block 961,632, marking the start of the BIP-110 soft fork activation attempt. The proposal seeks to implement changes to the Bitcoin protocol through a soft fork mechanism. However, the bid faces significant headwinds, with bitcoin miners showing very little support for the initiative. Prominent voices within the cryptocurrency community have also publicly opposed the proposal. The lack of backing from both miners and influential commentators raises serious doubts about the fork's chances of success.

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Crypto & Web3CoinDesk ·

Hardware wallet sales in Russia surge over 100% ahead of new crypto regulations

Sales of hardware cryptocurrency wallets in Russia have more than doubled as the country approaches the implementation of new crypto regulations. Major retailers Wildberries and M.Video have both responded to the increased demand, with Wildberries reporting an average price drop of 13% to 7,900 rubles per device. M.Video has also expanded its product range to meet the growing consumer interest. Neither retailer, however, has officially attributed the sales spike to any specific cause, despite the timing coinciding closely with the incoming regulatory changes.

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Crypto & Web3CoinDesk ·

Brazil Central Bank Mandates Delays on Large Overseas Crypto Transfers

Brazil's central bank has issued a directive requiring cryptocurrency exchanges to delay large transfers of digital assets abroad. The rule targets transactions exceeding $10,000, as well as smaller transfers that exchanges identify as carrying elevated risk. The measure appears aimed at strengthening oversight of cross-border crypto flows out of the country. Exchanges operating in Brazil are now responsible for flagging and holding suspicious transactions before processing them internationally.

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Crypto & Web3CoinDesk ·

Bitwise CIO predicts massive institutional capital shift into Bitcoin

Bitwise Asset Management's Chief Investment Officer Matt Hougan has forecast a significant flow of institutional money into Bitcoin. He estimates that large capital pools globally control assets worth up to $200 trillion. According to Hougan, even a 1% reallocation of those funds toward Bitcoin could trigger substantial long-term growth for the asset. The projection highlights growing optimism around institutional adoption of digital assets.

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Crypto & Web3CoinDesk ·

T. Rowe Price includes memecoins in crypto ETF, citing active investment strategy

Asset management giant T. Rowe Price, overseeing $1.9 trillion in assets, has included memecoins in its cryptocurrency ETF. The firm argues that ruling out established memecoins on principle would contradict its active approach to crypto investing. Rather than applying blanket exclusions, the manager appears to evaluate digital assets on a case-by-case basis. The decision signals a notable shift in how major traditional financial institutions are approaching the broader crypto asset class.

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Crypto & Web3CoinDesk ·

U.S. Senate begins procedural vote on crypto Clarity Act ahead of September push

The U.S. Senate has initiated the first stage of its multi-step voting process for the crypto Clarity Act. Senate Majority Leader opened the procedure required to clear the bill's 60-vote threshold. The move keeps the legislation alive and on track for a potential vote in September. The procedural step is a standard hurdle bills must overcome before advancing to a full Senate vote.

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Crypto & Web3CoinDesk ·

BTCPay Urges Immediate LND Updates After Lightning Server Credential Theft

A security exploit targeting Bitcoin Lightning Network infrastructure has emerged, with attackers successfully stealing credentials from Lightning payment servers. The breach allows malicious actors to gain control over Lightning wallets and potentially move funds without authorization. BTCPay, a widely used open-source Bitcoin payment processor, responded by issuing an urgent warning to its users running LND nodes. The company instructed affected users to either update their software immediately or take their servers offline to prevent further losses.

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Crypto & Web3CoinDesk ·

XRP Ledger proposes encrypted token balances to attract Wall Street assets

A new amendment proposal for the XRP Ledger (XRPL) is targeting approximately $530 million in tokenized Wall Street assets. The proposal would allow institutions to encrypt token balances and transaction amounts on the blockchain. Despite the encryption, issuers, auditors, and regulators would retain selective access to the underlying data. The amendment is designed to meet institutional privacy requirements while maintaining regulatory compliance. The move signals a push to make XRPL more attractive to traditional financial institutions exploring tokenization.

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Crypto & Web3CoinDesk ·

Selling BIP-110 fork coins could cost holders real Bitcoin, developer warns

A developer has warned Bitcoin holders about a significant financial risk tied to a potential minority chain fork expected this weekend. If such a chain emerges, transactions involving the sale of forked coins could be replayed on the main Bitcoin network. This replay vulnerability means sellers could inadvertently lose their actual Bitcoin holdings in the process. Until the two chains can be clearly separated and distinguished, experts advise holders to take no action. Doing nothing is currently considered the safest approach to protect real Bitcoin assets.

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Crypto & Web3CoinDesk ·

Trump Media Scraps CRO Token Treasury Deal, Refocuses on Core Business

Trump Media, the parent company of Truth Social, has cancelled its planned cryptocurrency treasury deal with Crypto.com involving the CRO token. The company stated it is shifting its focus back to its core media operations rather than pursuing digital asset holdings. Trump Media also cited its upcoming merger with a fusion energy firm as a strategic priority. The decision comes as broader enthusiasm for corporate crypto treasury strategies appears to be fading across the industry.

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Crypto & Web3CoinDesk ·

American Bitcoin Director Justin Mateen Buys $2M in ABTC Shares After Earnings

Justin Mateen, a director at Trump-backed American Bitcoin, has purchased approximately $2 million worth of ABTC stock. The acquisition spanned two days and involved more than 306,000 shares. The purchases came shortly after the company released its quarterly earnings report. Following the transactions, Mateen's total holding in the company rose to over 492,000 shares.

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Crypto & Web3CoinDesk ·

US Treasury sanctions two crypto exchanges tied to Iran

The US Treasury Department's Office of Foreign Assets Control (OFAC) has imposed sanctions on two cryptocurrency exchanges, Shelbit and Aban Tether. The action is part of Washington's ongoing effort to restrict Iran's access to cryptocurrency and foreign currency markets. Both exchanges were targeted for allegedly helping Tehran circumvent existing financial restrictions. The move reflects the US government's broader strategy of using sanctions to limit Iran's ability to use digital assets.

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Crypto & Web3CoinDesk ·

BitMEX Sale Fell Through Over Founder Ownership and Declining Business Concerns

Cryptocurrency exchange BitMEX failed to find a buyer after potential acquirers walked away from a proposed sale. Among those who declined was Exodus, according to a source familiar with the matter. Buyers were reportedly put off by concerns surrounding founder ownership stakes in the company. The exchange's shrinking business operations further dampened acquisition interest. The collapsed deal highlights ongoing challenges facing BitMEX in a competitive crypto market.

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Crypto & Web3CoinDesk ·

Bybit Files Lawsuit Against North Korea and Lazarus Group Over $1.5B Hack

Crypto exchange Bybit has filed a lawsuit against North Korea and the Lazarus Group in connection with a $1.5 billion hack. The exchange has successfully obtained a preliminary injunction to freeze the stolen assets. The Lazarus Group is a state-sponsored hacking collective widely attributed to North Korea. The legal action marks one of the most significant attempts by a crypto firm to pursue accountability for a state-linked cyberattack.

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Crypto & Web3CoinDesk ·

OKX Executive Warns Crypto Market Optimism Over Clarity Act May Be Premature

An OKX executive has expressed skepticism that the Clarity Act will successfully pass through the US legislature. The official argues that Democrats have little political motivation to deliver a crypto policy win to Republicans ahead of the midterm elections. This partisan dynamic, according to the executive, makes the bill's passage uncertain despite growing industry enthusiasm. Notably, the executive cautioned that market optimism surrounding the legislation may already be reflected in bitcoin's current price, raising the risk of a correction if the bill stalls.

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Crypto & Web3CoinDesk ·

Polymarket to adopt time-weighted prices after traders exploited price manipulation flaw

Prediction market platform Polymarket is overhauling its pricing mechanism after traders exploited a vulnerability to drain millions of dollars from the platform. The flaw allowed bad actors to artificially push prices within a very short window, enabling them to profit at the expense of other users. Onchain analysts had publicly flagged the issue for months before the platform announced corrective action. Polymarket is now moving to a time-weighted average price model, which makes brief artificial price spikes far more costly and difficult to execute profitably.

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Crypto & Web3CoinDesk ·

FTX Collapse Strengthens Case for US Crypto Clarity Act, Says Bullish Executive

When FTX collapsed in 2022, the regulated portions of the business were the ones that survived intact. This outcome highlights the importance of clear legal frameworks governing digital assets, according to Randi Abernethy of Bullish. Traditional finance and crypto markets are increasingly converging, making consistent regulatory oversight more critical than ever. The CLARITY Act was designed to provide that oversight, but the US Senate failed to pass the legislation this week. Abernethy argues the FTX fallout serves as a compelling real-world case for why such a law is needed.

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Crypto & Web3CoinDesk ·

Russia's FSB Arrests 20 in Crackdown on Unlicensed Crypto Exchange Ring

Russia's Federal Security Service (FSB) has arrested at least 20 individuals suspected of operating unlicensed cryptocurrency exchanges. Authorities allege the ring defrauded an undetermined number of Russian citizens. The FSB claims the operation had links to Ukraine. No further details have been disclosed regarding the scale of financial losses or the identities of those arrested.

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Crypto & Web3CoinDesk ·

US Loses 23,000 Jobs in July, Missing 80,000 Gain Forecast by Wide Margin

The United States shed 23,000 jobs in July, a stark contrast to analyst expectations of an 80,000 job gain. The disappointing employment report has significantly dampened expectations of a Federal Reserve interest rate hike. The probability of a rate increase at the Fed's upcoming September meeting has now fallen below 50%. The weak jobs data suggests the labor market may be losing momentum, influencing the central bank's near-term policy outlook.

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