Crypto Industry News & Market Trends

HTX keeps changing wallets after UK sanctions, TRM Labs says

Crypto exchange HTX has repeatedly changed its wallet infrastructure since the UK imposed sanctions linked to the platform in May, according to blockchain intelligence firm TRM Labs.　　In a July 21 report, TRM said HTX regularly retires hot wallets and funding addresses across TRON, Ethereum, BNB Smart Chain and Solana. The firm claims the changes allow much of the exchanges active infrastructure to remain outside static sanctions screening lists at any given time.　　HTX disputes that account. A spokesperson said the wallet activity identified by TRM “reflect[s] routine, security-driven platform operations common across the industry.” The exchange rejected any suggestion that the changes serve another purpose.　　TRM says HTX creates a moving target for screening tools　　TRM said HTX started restructuring its onchain infrastructure after UK authorities sanctioned Huobi Global S.A. on May 26. According to the intelligence firm, individual addresses can remain active for only a few hours before HTX moves activity to new wallets.　　Ari Redbord, TRM Labs global head of policy, described the process by saying, “HTX is changing its wallets every few hours to stay a step ahead of screening built on static lists.” TRM said this pattern can make traditional screening methods less effective because companies relying only on fixed

07-22Industry

Balajis Network School turns to Kazakhstan amid Malaysia setback

Balaji Srinivasans Network School, a community of “digital nomads,” is eyeing a new campus in Kazakhstan after its Forest City campus had its business license revoked over alleged premises-use violations.　　A memorandum of understanding was signed between Kazakhstans Minister of Digital Development, Innovation and Aerospace Industry, Zhaslan Madiyev and Srinivasan to establish the first Network School campus in Kazakhstan, according to a statement from the ministry.　　The Kazakhstan agreement gives the Network School a potential new base after its Johor operation was ordered to cease operations effective Wednesday. Kazakhstan has been positioning itself as an emerging technology hub, including plans for Central Asias first “crypto city” in Alatau.　　“Ironically, this whole drama with Balaji literally validated the network state thesis,” said Dragonfly Capital managing partner Haseeb Qureshi. “The whole idea of a network state is taking a dense group of talent and capital, and collectively negotiating with states. The Malaysia drama set up Balaji to negotiate better terms with another state to copy and paste the network there. ”　　“Our new campus will become a haven for global techno-optimism, with expedited visas, streamlined redomiciliation, and active recruitment of talent,” Srinivasan said Tuesday.　　Network School faces loss of Malaysia Digital status　　The new memorandum of understanding with

07-22Industry

Balance Coin crashes 99% after reported $915K exploit

Update July 22 at 4:37 am UTC: The article has been updated to include additional information from Slowmist about the exploit method.　　Balance Coin, an algorithmic stablecoin designed to maintain a peg to the US dollar, has fallen more than 99% following a reported exploit.　　The stablecoin, the native algorithmic stablecoin of Balance Protocol, is currently trading at $0.001358, down from $0.9954, according to CoinMarketCap.　　Blockchain security firm SlowMist said the exploit stemmed from an attacker manipulating an “abnormally low” Binance Bitcoin (BTCB) oracle price, letting the attacker liquidate collateral in multiple BTCB vaults that should not have been liquidatable, then swap the extracted assets for profit.　　“A single-transaction combo exploited the missing price protection and liquidation delay in Maker-style system, allowing an attacker to liquidate multiple BTCB vaults using an abnormally low oracle price and profit from the arbitrage,” SlowMist said.　　The incident adds to a string of DeFi exploits this year, with attackers continuing to target smart contract flaws, compromised admin controls and bridge vulnerabilities to siphon funds from onchain protocols.　　Related: AI has not triggered DeFi ‘hackpocalypse,’ Dragonfly partner says　　Blockchain security firm PeckShield said the exploit has caused $915,000 in losses to 42DAO.　　42DAO is the governance entity for the Balance Protocol, a DeFi

07-22Industry

Solana Prepares for the Alpenglow Upgrade. How Will SOL React？

Solana has started preparing validators for Alpenglow, a major upgrade that aims to make transactions final much faster.　　Today, Solana can take about 12 seconds to fully confirm a block. Alpenglow aims to cut that time to around 150 milliseconds. In simple terms, a payment or trade could become final almost instantly.　　The upgrade changes how validators confirm activity on the network. Validators are independent computers that check transactions and agree on the correct version of the blockchain.　　How Solana is Changing with Alpenglow　　Under the current system, validators send large amounts of voting data to the network. Alpenglow will combine many of those votes into one small digital certificate.　　For example, it is similar to replacing hundreds of separate approval letters with one signed document that shows everyone has agreed. This reduces the amount of data Solana needs to process.　　As a result, the network should have more space for normal transactions. This could help trading platforms, payment apps, and DeFi services process activity faster during busy periods.　　Validators must first register new BLS public keys. Solana expects to roll out the upgrade in stages between August and October 2026, although the timetable could change during testing.　　Solanas Price Reacts Ahead of the Upgrade　　SOL currently trades near

07-22Industry

Balance Coin crashes 99% after reported $915K 42DAO exploit

Balance Coin (BLC), an algorithmic stablecoin designed to track the U.S. dollar, lost more than 99% of its value after blockchain security firms reported a suspected exploit involving 42DAO.　　PeckShield said the incident caused about $915,000 in losses and linked the BLC collapse to an exploit affecting 42DAO, the decentralized organization connected to the Balance Protocol ecosystem. The security firm said Balance Coin “has plummeted -99%” following the reported attack.　　#PeckShieldAlert Balance Coin $BLC has plummeted -99% @42dao_official @42dao_official has been exploited for ~$915K pic.twitter.com/1bdRpMQBs3　　— PeckShieldAlert (@PeckShieldAlert) July 22, 2026　　The price fell from close to its intended $1 peg to a record low of $0.001209 on July 22. At the time of checking, CoinMarketCap showed BLC trading near $0.00247, down 99.75% over 24 hours. Its 24-hour range stretched from $0.001209 to $0.9955.　　Security firms trace suspected attack to two transactions　　TenArmor reported detecting two suspicious transactions involving GemJoin and 42DAO on BNB Chain. Onchain data cited in reports showed that the first transaction minted about 4.5 million BLC from a null address before moving the tokens to PancakeSwap V2.　　The attacker then reportedly swapped the newly created BLC for Binance-pegged USDT, also known as BSC-USD, and Binance Bitcoin (BTCB). Around two hours later, a second

07-22Industry

Aztec Launches V5 Alpha to Make Ethereum Privacy Faster and Cheaper

Aztec V5 brings private Ethereum transactions to everyday laptops and smartphones with faster proving times.The upgrade cuts proof costs, speeds up block production, and makes private token transfers cost under $0.05.Despite major privacy improvements, Aztec continues to prioritize security after vulnerabilities in its V4 release.　　Privacy-focused Ethereum Layer 2 network Aztec has launched the alpha version of its V5 upgrade, bringing fully private transactions to its network while allowing users to generate zero-knowledge proofs on ordinary laptops and smartphones instead of specialized hardware. The upgrade aims to make private transactions easier to use on Ethereum without relying on centralized proving infrastructure.　　The upgrade went live onchain Tuesday after receiving approval from token holders. Aztec said in a press release that it cuts private proving times by more than half, reduces transaction costs, shortens average block production from 14 seconds to six seconds, and lowers Ethereum proof verification costs by about 40%.　　Client-Side Proving Targets Everyday Devices　　Aztec co-founder Zac Williamson said in an interview that the goal is to make private transaction proofs run on everyday devices instead of specialized hardware. “We need to prove things on phones, on consumer laptops,” he said, adding that the technology must run on affordable computers if it

07-22Industry

Satsuma Shareholders Approve Bitcoin Liquidation, London Delisting

Satsuma shareholders have voted to unwind the companys bitcoin treasury and pull its shares off the London Stock Exchange.　　At a general meeting on July 20, holders passed two special resolutions: one to return substantially all of Satsuma‘s capital to shareholders, the other to cancel the company’s listing on the FCAs Official List.　　The capital return resolution carried 90.63% support, with 7,869,182,042 votes in favor against 813,703,719 opposed. The delisting resolution passed with near-identical margins, 90.59% in favor.　　The board will now close out Satsuma‘s trading operations and sell the company’s remaining bitcoin, roughly 668 BTC.　　The stock had traded as Satsuma Technology PLC (LSE: SATS), one of the UKs bitcoin treasury vehicles, second in size only to The Smarter Web Company.　　A timetable set out in the June 24 shareholder circular governs the wind-down. The record time for entitlement to B Shares falls at 6 p.m. on August 3, the deadline for warrant holders to exercise their warrants if they want the resulting ordinary shares included in the capital return.　　Once the total number of qualifying shares is fixed, Satsuma will petition the UK High Court to confirm the return of capital. A directions hearing is set for August 13, with a confirmation hearing to

07-22Industry

Wall Street sets CoreWeave stock price target for next 12 months

CoreWeave (NASDAQ: CRWV) stock‘s latest recovery in an otherwise red month led to the equity’s first positive Wall Street rating since July 2.　　Specifically, describing the former cryptocurrency miner as a ‘pioneer and leader’ in the sector focused on purpose-built artificial intelligence (AI) infrastructure, Baird‘s Rob Oliver initiated coverage of the neocloud with a ’Buy rating and a $100 price target, effectively forecasting CRWV shares would soar 25.66% from $79.58 at the latest close in the next 12 months.　　Additionally, the analyst reflected on the ongoing concerns over the supply-side of building AI infrastructure – arguably a major reason for the 20.05% CoreWeave stock drop in June – by explaining it highlights ‘the importance of execution at a time when demand far outpaces supply.’　　CoreWeave stock price one-month price chart. Source: GoogleWhy CoreWeave stock crashed in July　　Indeed, recent months brought multiple developments leading many investors, observers, and institutional experts to begin wondering if the AI ‘boom’ not only turned into a ‘bubble,’ but is also already bursting.　　Along with questions regarding how many of the Blackwells Nvidia (NASDAQ: NVDA) reported selling are actually in use amidst data center construction setbacks, pricing changes for GitHub Copilot led to a strong backlash and a flurry of

07-22Industry

Justin Sun‘s HTX ’Rotating On-Chain Wallets Amid UK Sanctions: TRM Labs

In briefA new report from blockchain intelligence firm TRM Labs says that crypto exchange HTX has kept operating under the same brand following UK sanctions, while rebuilding its on-chain infrastructure.HTX has rotated wallets across TRON, Ethereum, BNB Smart Chain, and Solana, creating a “continuous moving target for compliance professionals,” TRM Labs said.The exchange told Decrypt the activity reflects “routine, security-driven platform operations,” and rejected any characterization implying otherwise.　　Crypto exchange HTX has rebuilt its underlying wallet infrastructure in the weeks since the UK sanctioned it, rotating deposit and hot wallets on a rapid cycle, blockchain intelligence firm TRM Labs said in a report Tuesday.　　The exchange has “rebuilt its on-chain plumbing,” TRM Labs said, with the result that address-list screening “cannot keep pace”　　The Office of Financial Sanctions Implementation designated Huobi Global S.A., the entity behind HTX, on May 26, the first time the UK applied the measure to a crypto exchange of that size. The package of sanctions targeted crypto exchanges and the “A7 network,” which British authorities said was “used by Russia to evade existing restrictions” and channel funds to fuel its invasion of Ukraine. In the announcement, the UK government flagged HTX as a “major global cryptocurrency exchange” suspected of

07-22Industry

UMINT Tokenized Fund Goes Live On 1exchange, Bridging Regulated RWA Secondary Market

The real-world asset sector has crossed a threshold where tokenization without exit paths no longer satisfies institutional demand. A regulated venue now fills part of that gap. 1exchange, a licensed exchange for the listing and secondary trading of tokenized real-world assets, has made uMINT available for eligible investors, according to the announcement. The move brings a new layer of liquidity to a product that previously lived mostly in primary issuance and over-the-counter desks.　　uMINT is the tokenized version of a UBS money market fund built on Ethereum. By listing on 1exchange, it gains a regulated order book where qualified participants can buy and sell the token directly rather than relying solely on redemption or bilateral trades. For asset managers and family offices that must operate within compliance frameworks, this kind of infrastructure changes the calculus of holding tokenized positions.　　Regulated Infrastructure Catches Up to RWA Growth　　The listing arrives as on-chain real-world assets surpass $20 billion in total value locked, a milestone covered in a recent weekly tokenization roundup that also documented Bullishs $4.2 billion acquisition of Equiniti and the first live tokenized Treasury settlement between Ondo and JPMorgan. These events share a common thread: the infrastructure around tokenized assets is shifting from

07-22Industry

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