Crypto Industry News & Market Trends

Bitcoin Flat Near $63,400 After Mild US Inflation Drop

Bitcoin stabilized near $63,400 on Wednesday following a volatile intra-day move between $63,317 and $64,400, leaving its market cap unchanged at $1.27 trillion.　　Key TakeawaysBitcoin stabilized near $63,400 Wednesday after sharp intra-day swings, holding its $1.27 trillion market cap.Total crypto market liquidations reached $153.2 million while Strategy downplayed recent token sales.Glassnode warned that low spot buyer demand leaves bitcoin wedged beneath its $68,700 cost-basis hurdle.　　Bitcoin Trades Flat Following Volatile Intra-Day Swing　　After declining for two consecutive days, bitcoin was largely flat Wednesday as the sell-off sparked by Strategys latest bitcoin sale appeared to have run its course. Market data shows that bitcoin traded mostly below $63,800 between Tuesday afternoon and early Wednesday morning. However, shortly after 5 a.m. EST, a sharp rally lifted the cryptocurrency past $64,000 on its way to a daily peak of just over $64,400.　　An equally sharp sell-off followed, pulling bitcoin down to $63,317 before it rebounded to just above $63,400. Bitcoin traded at nearly the same price level as 24 hours earlier—a rare occurrence for an asset widely considered one of the most volatile in recent years.　　The flat price action left bitcoins market capitalization unchanged at $1.27 trillion and its seven-day loss at 2%. In the derivatives market,

3 days agoIndustry

Trump sued over Truth Socials early-access feed as firm explores licensing data to prediction markets

Quick TakeTruth API has signed more than 10 customers, paying between $60,000 and $100,000 per month.The plaintiffs allege the service violates constitutional protections by giving paying subscribers preferential access to official government information.　　President Donald Trump and several White House officials were sued Wednesday over a Truth Social service that gives paying customers faster access to potentially market-moving posts, all while Trump Media explores licensing the platforms data to prediction markets.　　The Intercept and Freedom of the Press Foundation filed the complaint in the U.S. District Court for the Southern District of New York, alleging the service gives subscribers preferential access to official government announcements for up to $100,000 per month.　　The lawsuit names Trump, White House Deputy Chief of Staff Dan Scavino, presidential executive assistant Natalie Harp, the Executive Office of the President and the White House Office as defendants.　　The service, known as Truth API, delivers posts from Trump and other major Truth Social accounts faster than they become available to the public. Trump Media launched the service on Aug. 1 and has signed more than 10 customer agreements, primarily with high-frequency trading firms, according to interim CEO Kevin McGurn.　　Those customers pay “in the range of $60,000 to $100,000 per month,” McGurn

3 days agoIndustry

BitMart reserve doubts raise custody concerns: Arch CTO

BitMart‘s missing proof-of-reserves report and withdrawal complaints from two crypto projects have raised fresh questions about how customer assets are held during the exchange’s wind-down.　　BitMart concerns expose verification problem　　Arch Lending co-founder and CTO Himanshu Sahay said questions about withdrawals and exchange closures expose the difference between assurances offered by a platform and financial information that customers can independently check.　　“Whenever questions arise around withdrawal processing or exchange wind-downs, it points to a structural gap across digital asset markets: the difference between platform-level statements and independent verification,” Sahay said in a statement to crypto.news.　　Customers often have no real-time method for establishing whether an exchange holds their assets in segregated accounts or combines them with funds used for other operations, according to the executive. Uncertainty increases when withdrawals slow because customers must rely on the same company processing their requests for information about its financial condition.　　Sahay said the crypto industry already has tools that can reduce such uncertainty, including third-party custodians, reserve attestations, and strict asset segregation. Their value depends on whether customers can use them to verify solvency claims before operational problems emerge.　　“This isnt a new issue, but a recurring one that resurfaces whenever a platform faces operational stress.”　　BitMart stated in May

3 days agoIndustry

Who Owns the Presidents Tweets？ A Federal Lawsuit Wants an Answer

The Intercept and the Freedom of the Press Foundation filed a Truth API lawsuit against President Donald Trump on Wednesday. The case asks a federal judge to decide whether the president can sell early access to his own official statements.　　The complaint, filed in the Southern District of New York, says presidential posts are government information. If that holds, no paying customer can own a bigger share of them than any other American.　　Sponsored　　Sponsored　　A $100,000 Paywall on the Presidents Posts　　Truth Social‘s parent, Trump Media s most market-moving Truths,”　　Markets often move when he posts. Subscribers, mostly high-frequency trading firms, pay $60,000 to $100,000 a month for that head start. More than 10 firms have signed up, and the feed has already earned over $1 million.　　That figure matters. Trump Media booked a $238.1 million net loss in the second quarter on revenue of just $1.7 million. At more than $1 million a month, the feed could soon out-earn the rest of the business.　　Trump is the companys largest shareholder through a trust. According to the complaint, his stake was once worth $4 billion and has since sunk to around $1 billion.　　????TRUTH API INFOMERCIAL　　(This is a real product so I made them an infomercial: Trump Media

3 days agoIndustry

After Coldcard Was Hacked, $15 Billion in Bitcoin Moved to Safety

In briefThe Coldcard firmware exploit drained approximately 2,100 BTC, with losses estimated near $130 million across multiple attack waves.Onchain data from Checkonchain shows 233,000 BTC left long-term holder wallets in the days around the breach.Casa CEO Nick Neuman, citing actual customer conversations, says some of that 233,000 BTC came from Ledger and Trezor users—not Coldcard owners—who upgraded to multisig after watching the hack unfold.　　In the days after the worst hardware wallet exploit in Bitcoins recent history, Casa CEO Nick Neuman began counting more than just the BTC being drained from vulnerable Coldcard wallets.　　While attackers were draining Coldcard wallets one address at a time, 233,000 BTC—worth about $15 billion at todays prices—was quietly moving in search of safety.　　Myriad: Bitcoins next move？ Click to make your prediction.　　The massive and ongoing breach that started on July 30 has already led to close to $130 million in stolen Bitcoin from Coldcard hardware wallets—physical gadgets that store private keys entirely offline, never connecting to the internet, and made by Canadian company Coinkite.　　A firmware bug introduced in March 2021 had routed key generation through a weak software random number generator instead of the devices dedicated hardware chip. Private keys (the secret codes that prove ownership of

3 days agoIndustry

Bitcoin could reach $1M by 2030, Nansen CEO says

Nansen co-founder and CEO Alex Svanevik has projected that Bitcoin could reach $1 million by 2030 while arguing that the asset may never trade below $60,000 again.　　SummarySvanevik sees $1 million Bitcoin by 2030as a plausible outcome rather than a certainty.Expanding money supply and currency debasementform the main basis of his forecast.The Nansen chief expects Bitcoins market cycles to produce progressively higher price floors.U.S. spot Bitcoin ETFs give American investors regulated accessbut remain exposed to sharp price swings.　　Monetary expansion could carry Bitcoin toward $1 million　　In a statement to crypto.news, Nansen co-founder and CEO Alex Svanevik said Bitcoins long-term value will depend largely on global liquidity, government spending, and the continued expansion of the money supply.　　Rather than pointing to one event that could send Bitcoin (BTC) to $1 million, Svanevik described the cryptocurrency as an alternative to monetary systems in which central banks and governments can create more currency. Bitcoins supply rules limit the total number of coins to 21 million, although new BTC will continue entering circulation through mining until the maximum supply is reached.　　“I think the base case for Bitcoin is basically that you get higher lows, and you do have these run-ups that happen, roughly every four years,” Svanevik

3 days agoIndustry

Polymarket taps ex-Uber and Bird exec Travis VanderZanden to boost growth

Quick TakePolymarket has hired blitzscaling veteran Travis VanderZanden as chief growth officer.VanderZanden is the founder of Bird, the electric scooter-sharing startup, and a former executive at Lyft and Uber.　　Polymarket has hired Travis VanderZanden to serve as chief growth officer, Polymarket CEO Shayne Coplan announced on Wednesday.　　VanderZanden is the founder of Bird, the electric scooter sharing startup, and a former executive at Lyft and Uber.　　Bird, Uber and Lyft were all part of the so-called “blitzscaling” trend that prioritized extremely rapid growth. Reid Hoffman and Chris Yeh popularized the term blitzscaling to describe startups that raised and spent heavy amounts of venture capital to fund aggressive expansions while competing for market share.　　“From being [Travis Kalanick]s growth lead at Uber, to CRO of Yammer under [David] Sacks, to being founder and CEO of Bird (responsible for both my love of Paris and a couple bloody chins),” Coplan wrote. “When it comes to growing marketplaces, nobody does it better. This time with software instead of hardware. Welcome to the team.”　　Last year, Polymarket and its chief rival Kalshi saw neck-and-neck growth during the beginning phase of the prediction market expansion. In recent months, however, Kalshi has pulled ahead in terms of growth — largely driven

3 days agoIndustry

Zoomsday: AI Used to Build Critical Zoom Exploit in One Day

In briefA security researcher found and exploited Zoom flaws using fewer than 20 AI prompts.The bugs affected Zoom‘s annotation tool and could let an attacker run code on another participant’s device.Zoom fixed the vulnerabilities before they were publicly disclosed.　　AI is making it faster and easier to find serious security flaws. Now, a researcher says he used publicly available models to find vulnerabilities in the video chat platform Zoom and build a working attack in less than 24 hours.　　Calling it ‘Zoomsday’ in a report published Tuesday, Israeli cybersecurity firm A Security said a researcher used fewer than 20 AI prompts to uncover flaws in Zoom‘s annotation tool that could let someone in a meeting take control of another participant’s device without any action from the victim.　　Myriad: When will OpenAI release GPT-6？ Click to make your prediction.　　“Once the nefarious code is running on the victims device, the threat actor can quietly steal personal data, switch on the microphone or camera to spy on the target, or install other malicious software,” A Security wrote. “In a large call, thats a room full of targets from a single message, with no safe seat in it.”　　According to A Security, the attack was tested on Zooms

3 days agoIndustry

Google Pixel 11 Launch Disappoints as Alphabet Stock Falls

Google has unveiled the Pixel 11 lineup, but the new phones arrive with unusually modest hardware upgrades, higher prices, and even a downgrade in RAM on some models.　　The Pixel 11, Pixel 11 Pro, Pixel 11 Pro XL and Pixel 11 Pro Fold bring Googles new Tensor G6 chip and several AI-powered software features. However, the physical changes are limited compared with previous generations.　　Get your first look at the Pixel 11 family. Refined hardware, made to last. Fresh colors. New cameras. And designed for Gemini Intelligence. #MadeByGoogle 　　Sponsored　　Sponsored　　What is Changing on the Google Pixel 11 Lineup　　Some of the main hardware changes include:The standard Pixel 11 gets a 56% larger main camera sensor, faster 25W wireless charging and a smaller camera bump.Battery-life claims remain largely unchanged from last year.Most camera sensors are unchanged, while Google has not announced any meaningful graphics-performance improvement for Tensor G6.The Pixel 11 Pro gets a brighter display and a 30% larger telephoto sensor, but its main camera specifications remain largely similar.The Pro models now start with 12GB of RAM, down from 16GB on last years starting configurations.Google also removed the body-temperature sensor and replaced it with a new LED-based “Highlight” notification feature.　　The biggest change may be the

3 days agoIndustry

Kalshi taps Solana platform for Wall Street-style high-speed data feed

SummaryKalshi‘s order book is adding Solana-based DoubleZero’s low-latency market data feed to meet institutional demand.The DoubleZero Foundation described DoubleZeroEdge as a transport layer, sending live exchange and onchain data over dedicated fiber, distributing it simultaneously to all connected traders.The model has underpinned traditional financial exchanges, including NYSE, Nasdaq and the CME, for decades, the foundation said.　　The growing presence of financial institutions in cryptocurrency brings with it increasing demand for Wall-Street style systems in digital asset markets, such as servers that offer split-second advantages when executing trades.　　Kalshi is looking to meet that demand by adding Solana-based DoubleZeros low-latency market data feed to its prediction market order book.　　The DoubleZero Foundation said this will provide trading firms with a machine-readable view of a prediction market for pricing, hedging and signal generation on Solana, one of the major layer-1 blockchains.　　The foundation described DoubleZeroEdge as a transport layer, sending live exchange and onchain data over dedicated fiber, publishing the data and distributing it simultaneously to all connected traders.　　In traditional finance (TradFi), institutions use specialized networks to access data at high speed, whereas in crypto, traders still largely rely on the internet. DoubleZero attempts to address that through a bespoke onchain system.　　“This is the same distribution

3 days agoIndustry

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