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Crypto & Web3CoinDesk ·

BNY to Test Tokenized Treasuries on Private Blockchain Before Year-End

BNY Mellon is planning to pilot tokenized U.S. Treasuries on a private blockchain before the end of this year. The initiative aims to eliminate settlement delays that currently occur during weekends and off-hours in Treasury markets. The bank also intends to expand its settlement network to accommodate a broader range of international trading hours. By leveraging blockchain technology, BNY seeks to move closer to round-the-clock financial infrastructure for U.S. government securities.

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Crypto & Web3CoinDesk ·

Mirae Asset Group acquires controlling stake in South Korea's first crypto exchange Korbit

Korbit, South Korea's oldest cryptocurrency exchange, has become part of Mirae Asset Group following an acquisition deal. This marks the first time a traditional South Korean financial conglomerate has taken a controlling stake in a domestic crypto exchange. Mirae Asset Group is a major financial powerhouse with assets valued at approximately $1 trillion. The move signals growing institutional interest from conventional finance players in South Korea's cryptocurrency sector.

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Crypto & Web3CoinDesk ·

Cross-chain protocols lose $35M in coordinated attacks targeting key vulnerabilities

Multiple blockchain protocols, including Verus and B² Network, suffered a series of cyberattacks within hours of each other, resulting in combined losses of approximately $35 million. The attacks targeted Bitcoin and Ethereum-linked cross-chain systems rather than the underlying blockchains themselves. Attackers exploited weaknesses such as compromised private keys, upgrade permissions, and flawed validation checks. Notably, the breaches occurred without breaking the core cryptographic security of the underlying networks. The incidents highlight systemic vulnerabilities in cross-chain infrastructure that can be exploited independently of base-layer protections.

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Crypto & Web3CoinDesk ·

AFX Trade loses $24M in USDC after bridge validator keys compromised

Arbitrum-based trading platform AFX Trade suffered a security breach resulting in the loss of approximately $24.15 million in USDC. According to security firms, the attacker obtained a sufficient number of hot-validator signatures to authorize a large unauthorized withdrawal. The exploit targeted AFX Trade's own bridge infrastructure rather than Arbitrum's native bridge. Arbitrum clarified that its core bridging system was not involved in or affected by the incident.

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Crypto & Web3CoinDesk ·

XRP Whales Buy Up 2.8% More Tokens as Small Investors Sell Off

Large XRP holders, commonly known as whales, have accumulated 2.8% more tokens over the past five weeks. This buying activity coincided with smaller retail investors selling off their holdings, a behavior referred to as capitulation. The divergence in behavior between large and small holders has drawn attention in the crypto market. Following this accumulation trend, XRP's price recovered and climbed back above the $1.16 mark.

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Crypto & Web3CoinDesk ·

Bitcoin Slides as Oil Prices, Rising Rates, and Regulatory Uncertainty Weigh on Crypto

Bitcoin and broader crypto markets declined as a combination of geopolitical risks, rising oil prices, and climbing interest rates dampened investor sentiment. Regulatory headwinds added further pressure, with the odds of the Clarity Act passing dropping sharply to 38%. Key Democratic lawmakers are pushing back on the proposed market structure bill, demanding stronger investor safeguards before lending their support. The legislative uncertainty has unsettled crypto markets that had been anticipating clearer regulatory frameworks. The confluence of macroeconomic and political pressures signals a challenging near-term environment for digital assets.

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Crypto & Web3CoinDesk ·

Senator Lummis Says Ethics Provisions in Crypto Clarity Act Still Under Discussion

Senator Cynthia Lummis, a key negotiator on the crypto Clarity Act, expressed satisfaction that an updated version of the bill has been released. The Wyoming Republican indicated that certain provisions, including ethics-related clauses, remain subjects of ongoing discussion. Lummis shared her remarks in a conversation with CoinDesk. The development signals continued legislative momentum around the bill, though some details have yet to be finalized.

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Crypto & Web3CoinDesk ·

Democratic lawmakers raise ethics concerns over Republican crypto market structure bill

Several key Democratic lawmakers have expressed reservations about a newly released Republican draft of a crypto market structure bill. The legislators, considered among the most likely Democrats to support such legislation, said the proposal falls short on ethics and other issues. Their concerns emerged shortly after Republicans published the updated draft. The pushback from potential Democratic allies could complicate efforts to build the bipartisan support needed to advance the bill.

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Crypto & Web3CoinDesk ·

Tesla holds 11,509 BTC steady in Q2 despite 14% bitcoin price drop

Tesla kept its bitcoin treasury unchanged at 11,509 BTC throughout the second quarter of 2024. The electric vehicle giant recorded a $112 million impairment loss as bitcoin's value fell 14% during the period. Despite the crypto-related hit, Tesla's quarterly earnings delivered mixed results overall. The company beat analyst expectations on revenue but fell short on profitability metrics.

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Crypto & Web3CoinDesk ·

Senate Crypto Bill Draft Circulated With Ethics Provision Still Under Debate

U.S. lawmakers have circulated a new draft of the Clarity Act as they work toward a final Senate vote. The updated text represents a significant step forward in the legislative process for the crypto regulation bill. However, key disagreements remain over a central government-ethics provision included in the legislation. The latest draft treats the ethics rule as a temporary measure rather than a permanent fixture, signaling ongoing compromise negotiations among senators.

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Crypto & Web3CoinDesk ·

Revolut valued at $115 billion in employee share sale

Fintech giant Revolut has reached a valuation of $115 billion through an employee share sale, according to the Wall Street Journal. The company has demonstrated robust financial performance in 2025, recording a pre-tax profit of $2.3 billion. Revolut also reported revenues of $6 billion, reflecting significant business growth. The firm now serves a customer base of over 75 million users worldwide.

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Crypto & Web3CoinDesk ·

SEC Commissioner Peirce flags DeFi vaults and onchain lending as potential securities

SEC Commissioner Hester Peirce has cautioned that certain decentralized finance products may be subject to existing securities laws. Specifically, she highlighted onchain vaults and lending strategies as areas of concern. Peirce noted that depending on their structure, these products could resemble regulated investment funds or investment advisers. The warning signals that DeFi participants may face regulatory scrutiny even without formal rulemaking.

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Crypto & Web3CoinDesk ·

UK Digital Gilt Pilot Needs Onchain Stablecoin to Unlock Market Liquidity

Britain is developing a digital gilt pilot program aimed at modernizing its government bond infrastructure using blockchain technology. Experts believe the initiative has the potential to free up trapped liquidity in financial markets. However, the program's effectiveness hinges on regulatory approval for an onchain stablecoin to serve as a cash settlement mechanism. Without such approval, the digital bond system would lack a critical component needed for seamless end-to-end transactions. Regulators have yet to greenlight the necessary onchain cash instrument, leaving the pilot's full potential unrealized.

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Crypto & Web3CoinDesk ·

Crypto Portfolio Strategy: Position Sizing Matters More Than Asset Selection

In a weekly Crypto Long & Short column published by CoinDesk, Gregory Mall of Lionsoul Global argues that the most critical decision for crypto investors is not which assets to hold, but how much to allocate. Mall contends that an investor's ability to withstand volatility is the central factor in building a sustainable crypto portfolio. The piece shifts focus away from token selection, which dominates most crypto discourse, toward risk tolerance and position sizing. According to Mall, determining what you can survive holding during downturns is the foundational question every crypto investor must answer first.

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Crypto & Web3CoinDesk ·

U.S. Moves to Seize $25M in Crypto Linked to Romance and Investment Scams

U.S. authorities have filed for forfeiture of approximately $25 million in cryptocurrency connected to romance and investment fraud schemes. The funds are alleged to have been obtained through deceptive tactics targeting victims of these scams. The action was brought forward by a dedicated federal task force focused on combating such fraudulent operations. This latest move brings the total recovered by the task force to over $800 million. The cases highlight ongoing federal efforts to pursue and reclaim assets lost to crypto-enabled scams.

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Crypto & Web3CoinDesk ·

Franklin Templeton, Circle See Blockchain as Next Major AI Infrastructure Play

Franklin Templeton's Sandy Kaul and Circle CEO Jeremy Allaire are making the case that blockchain networks will be central to the next wave of AI investment. Their argument centers on the rise of autonomous AI agents that can independently conduct financial transactions. As these AI systems begin spending and transferring money without human intervention, blockchain infrastructure is positioned to facilitate those activities. The two executives suggest this shift could make crypto and blockchain the defining trade of the AI era, potentially rivaling the returns seen in AI chipmakers like Nvidia.

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Crypto & Web3CoinDesk ·

Kalshi Launches Midterm Hubs to Become Top Source for US Election Odds

Prediction markets platform Kalshi has introduced a new feature called Midterm Hubs in preparation for the upcoming US midterm elections. The move is part of the company's strategy to establish itself as the go-to destination for election probability data. The launch comes ahead of the November midterm elections in the United States. Kalshi aims to attract users seeking real-time market-based forecasts on electoral outcomes.

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Crypto & Web3CoinDesk ·

Midnight Token Recovers 19% After Wanchain Bridge Hack Triggers All-Time Low

The Midnight token (NIGHT) has rebounded 19% following a hack targeting the Wanchain bridge that temporarily pushed the asset to an all-time low. The exploit exposed vulnerabilities in legacy cross-chain bridge infrastructure. Cardano founder Charles Hoskinson responded to the incident by calling on the blockchain industry to transition away from outdated bridge systems. Hoskinson specifically advocated for a shift toward zero-knowledge (ZK) proof-based solutions as a more secure alternative.

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Crypto & Web3CoinDesk ·

Bitcoin Bulls Urged to Monitor Interest Rate Trends Closely

A market analysis published on July 22, 2026, by CoinDesk highlights the relationship between interest rates and bitcoin's price outlook. The report suggests that bitcoin investors should pay close attention to prevailing interest rate conditions. Interest rates are presented as a key factor influencing bullish momentum in the cryptocurrency market. The full analysis aims to help traders better understand macroeconomic forces affecting bitcoin. No further details were available in the provided article text.

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Crypto & Web3CoinDesk ·

SecondFi to shut down following $2.4 million ADA wallet theft

Crypto lending platform SecondFi has announced it will cease operations following a significant security breach that resulted in the theft of $2.4 million worth of ADA, Cardano's native cryptocurrency. The attack exploited a vulnerability in the platform's transaction signing software, which allowed malicious actors to derive private keys directly from blockchain transaction data. This critical flaw effectively gave attackers unauthorized access to user wallets. The loss proved severe enough that SecondFi determined it could not continue operating as a business.

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