Crypto Industry News & Market Trends

'Honestly, I don't care': Tether CEO dismisses critics following first KPMG audit

Quick TakeTether CEO Paolo Ardoino dismissed continued criticism following KPMG U.S.s audit, saying some critics cannot admit they were wrong.A source with direct knowledge told The Block that Tether does not publicly share its audited statements because it is a private company.Tether plans to conduct full audits annually while continuing quarterly attestations.　　Tether CEO Paolo Ardoino brushed off continued criticism of the stablecoin issuer following its first full financial audit, saying some critics are unable to admit that they were wrong about the company.　　“Honestly, I dont care,” Ardoino said in an exclusive interview with The Blocks The Starting Block show on Friday. “We proved ourselves many times.”　　Ardoino said Tether (USDT) had already shown it could handle large redemptions. In 2022, the company redeemed $7 billion in 48 hours, or about 10% of its reserves at the time, without stopping redemptions, he noted.　　He said many traditional financial institutions would struggle to handle withdrawals of that size in such a short period.　　“Im happy to get the criticism because it makes us better, makes us stronger,” he said.　　He added that he was comfortable being viewed as a “villain” by some critics if Tether could continue serving the 650 million users the company claims rely

08-15Industry

Tokenization stocks slide as legal concerns delay SEC innovation exemption

Tokenization-linked stocks have fallen as much as 11.2% after legal and market concerns reportedly delayed the SECs planned innovation exemption for blockchain-based securities.　　SummaryBullish fell 11.2%, extending its decline from about 8% earlier in Fridays session.Coinbase and Circle dropped 3% and 4.8%, respectively, as tokenization-linked shares weakened.The SEC reportedly faces questions about its authority and the exemptions effect on existing market rules.Uniswaps UNI also fell as the regulatory delay reached beyond publicly traded companies.　　According to fresh reports on Friday, the Securities and Exchange Commission was preparing to delay its innovation exemption again after the White House and Wall Street firms raised concerns about its legal basis and possible effect on securities markets.　　The exemption was expected to reduce regulatory barriers for companies issuing and trading tokenized securities on blockchain networks. SEC officials were reportedly ready to disclose at least part of the plan alongside a separate meeting on Regulation Crypto before the agency canceled the session late Thursday.　　According to reports, White House officials were concerned that the exemption could complicate congressional negotiations over the Digital Asset Market Clarity Act. SEC staff were also examining whether the agency had sufficient legal authority, economic analysis, and procedural support to grant relief covering major changes

08-15Industry

French tax breach exposes nearly 678,000 people as crypto wrench attacks pile up

Quick TakeThe compromised records reportedly include addresses, income, tax identifiers, and contact details.Crypto wrench attacks in France are on pace to make 2026 the worst year ever for violent crimes targeting crypto holders in the country.　　Hackers stole French taxpayer data in a cyberattack that reportedly exposed around 678,000 people, including hundreds reporting income above €1 million (roughly $1.16 million), potentially creating an updated target list for criminals in a country already dealing with a surging number of violent crypto attacks.　　Frances Finance Minister confirmed that a hacker broke into the General Directorate of Public Finances sometime in late June and extracted data belonging to individual and professional taxpayers.　　FrenchBreaches, a platform tracking cyberattacks in the country, reports that 678,437 people were affected. This is equivalent to roughly 1% of Frances population, though an investigation is still underway and the exact number has not been confirmed.　　Among those affected, nearly 27,000 had tax income of at least €100,000, while 386 reported more than €1 million and eight were over €10 million. The stolen database is reportedly for sale on dark web marketplaces for several thousand euros.　　The data reportedly contains sensitive information like names, birthdates, home addresses, phone numbers and email addresses.　　The attacker, who goes

08-15Industry

Bitcoin Slides to $62,470 as Sellers Test the $63K Floor Again

Bitcoin hovered near $63,000 after hitting an intraday low of $62,470, remaining virtually flat over 24 hours and leaving seven-day losses at 2.6%.　　Key TakeawaysBitcoin fell below $63,000 as spot ETF outflows topped $131 million.MSCI proposed rules targeting firms like Strategy with over 50% non-operating assets.MSCI will decide on Oct. 16, with potential November removals dimming bitcoins year-end outlook.　　BTC Stumbles Near $63,000　　Bitcoin dipped below $63,000 for the second consecutive day on Friday, with the decline deepening in early trading.　　The cryptocurrency initially appeared to consolidate around $63,400 hours after falling to $62,912 on Thursday. However, a sell-off shortly after midnight dragged the price to $62,670 before it recovered to trade just below $62,800.　　Shortly after 8 a.m. EST, bitcoin began descending again, reaching an intraday low of $62,470. A subsequent relief rally helped it reclaim the $63,000 threshold. As of 1:20 p.m. EST, the cryptocurrency was trading just above $63,000, virtually unchanged over the previous 24 hours.　　The flat price action kept bitcoins market capitalization under $1.27 trillion, with seven-day losses at 2.6%. After a strong start to the month, bitcoin is now nearly flat as August reaches its midpoint.　　In the derivatives market, the volatility triggered significant liquidations for overleveraged long positions. According to

08-15Industry

SharpLink Will Stake $200M of Ethereum Through Lido's wstETH

In briefSharpLink will stake $200 million of Ether through Lidos liquid-staking protocol.The move is about 106,000 ETH, roughly 12% of the ~889,000 ETH SharpLink held as of early August.wstETH sits across more than 100 protocols with about $10 billion in active-use collateral, so SharpLink keeps earning yield while staying liquid.　　Miami-based digital asset treasury company SharpLink said Thursday it will stake $200 million of Ethereum through Lido, the largest liquid-staking protocol on Ethereum.　　The tokens arrive as wrapped staked ETH (wstETH)—a receipt token representing staked ETH plus its rewards—and Anchorage Digital will hold them in custody.　　Myriad: Ethereum next price move？ Click the image to make your prediction.　　“This is an exciting expansion in making our ETH even more productive, leveraging wstETHs composability while maintaining institutional-grade risk standards,” said Joseph Chalom, Chief Executive Officer of SharpLink in a press release. “Adding a staking protocol of Lidos caliber deepens the diversification of our treasury strategy and gives us access to one of the most liquid and widely integrated assets in Ethereum DeFi. It reflects our commitment to working with the top Ethereum protocols.”　　The wrapped staking token wstETH lets SharpLink earn staking yield while staying liquid and using the position across DeFi. The underlying ETH keeps

08-15Industry

Israels largest bank taps Galaxy for crypto trading

Israels largest bank has partnered with Galaxy to offer Bitcoin, Ether, and Solana trading through its investment app from early 2027.　　SummaryBank Leumi will become the first Israeli bank to provide direct digital asset trading.Leumi and PEPPER customers will access Bitcoin, Ether, and Solana through Leumi Trade.GalaxyOne Institutional will handle trading, while Galaxys former GK8 platform will support custody.Galaxy has also added institutional crypto services through BNY and Morgan Stanley in 2026.　　Galaxy announced the partnership with Bank Leumi on Aug. 14, saying the planned service will let customers buy, hold, and sell three cryptocurrencies without leaving the banks capital markets application.　　The service is expected to become available in early 2027 and will cover customers of both Leumi and PEPPER, its mobile banking arm. Users will find the trading tools inside a dedicated, secured section of the Leumi Trade app, according to the announcement.　　Bank Leumi, which describes itself as Israels leading financial institution, serves millions of households, small businesses, and corporate clients. Once the service goes live, it will become the first bank in Israel to provide digital asset trading directly to customers, the companies said.　　You might also like:　　Bank of Israel explores digital shekel with offline and cross-network payments　　Bank Leumi crypto trading

08-15Industry

OpenAI Staff Blame Rush to Ship for Rogue Agent Hack

In briefOpenAI employees told Wired that pressure to release models and products has made it difficult to prioritize safety, security, and alignment.A former employee called the breach the largest safety incident in OpenAIs history.OpenAI has slowed research, reassigned teams, and spent millions investigating the failure.　　OpenAIs rush to release new models and products contributed to conditions that allowed its AI agents to escape internal testing environments and hack Hugging Face earlier this year.　　Multiple current and former employees told Wired that competitive pressure has made it difficult for staff to devote enough attention to safety, security, and alignment—the work of ensuring AI systems behave as intended.　　Myriad: When will OpenAI release GPT-6？ Click to make your prediction.　　“They were incredibly sloppy. If you‘re serious about this, your AI shouldn’t be able to break out onto the internet and then do it again right afterward,” a former OpenAI employee told Wired. “This was the biggest safety incident in OpenAIs history.”　　In May, OpenAIs GPT-5.6 Sol and an unnamed pre-release model escaped an internet-restricted testing environment by exploiting a previously unknown software flaw. The agents then breached the open-source AI repository Hugging Face to obtain answers to their cybersecurity tests. In July, OpenAI confirmed that its models

08-15Industry

JPMorgan boosts Bitcoin, Ether ETF positions in Q2 filing

JPMorgan‘s reported position in BlackRock’s Bitcoin exchange-traded fund increased by about 25% in the second quarter, while its Ether ETF position more than quadrupled, according to its latest securities filing.　　The Form 13F filing with the US Securities and Exchange Commission, submitted Wednesday, covers holdings as of June 30 and includes 17 other investment managers across JPMorgan.　　That makes it difficult to determine whether individual positions reflect a directional market view, Jonatan Randin, senior market analyst at PrimeXBT, told Cointelegraph.　　“It gives you some idea of what they are doing but not their opinion about the future direction of a specific market,” Randin said.　　JPMorgan reports larger Bitcoin, Ether ETF positions　　The filing showed about 10.4 million shares in BlackRocks iShares Bitcoin Trust ETF (IBIT) in Q2, up from 8.3 million shares in Q1 with a reported value of roughly $356 million.　　Its position in the iShares Ethereum Trust ETF (ETHA) rose more sharply, climbing more than fourfold to about 1.17 million shares from roughly 267,000.　　Randin said a 13F can combine holdings from different parts of an institution, including positions related to client activity and inventory, making it difficult to determine the purpose behind individual holdings. Form 13F filings also exclude short positions, meaning JPMorgans reported

08-15Industry

Crypto Biz: Bitcoins $116M self-custody wake-up call

A $116 million hardware wallet exploit has reopened one of Bitcoins oldest debates: Is holding your own keys worth the risk？ Days later, US spot Bitcoin ETFs recorded their strongest inflows since April, prompting Bloomberg analyst Eric Balchunas to wonder whether security scares could eventually push more investors away from self-custody and toward ETFs.　　Elsewhere, Strategy is preparing to resume Bitcoin purchases after a rare bout of selling, Riot Platforms is reportedly turning its mining infrastructure into a $9 billion AI deal, and Trump Media is rethinking its crypto treasury strategy after a $238 million quarterly loss.　　Strategy CEO says company will resume Bitcoin accumulation this year　　Strategy CEO Phong Le said the company plans to resume Bitcoin accumulation later this year, seeking to reinforce its long-term strategy after a series of relatively small sales drew scrutiny over its once-firm “never sell” stance.　　Le told FOX Business that Strategy bought roughly 175,000 BTC and sold about 7,000 BTC this year — about 25 times more buying than selling. The company now holds more than 840,000 BTC, making it the largest institutional holder, but has sold Bitcoin on four occasions since May, most recently unloading 1,690 BTC to support preferred dividends, buybacks and its dollar

08-15Industry

UK authorities continue probe into Nigel Farage‘s crypto ’gifts after by-election win

UK Reform leader Nigel Farage will face an investigation that had been briefly paused following his resignation from Parliament after winning a by-election on Thursday with no major party candidates participating.　　As of Friday, the UK Parliamentary Commissioner for Standards website showed that Farage was currently under investigation for “failure to register an interest” related to the Reform leader receiving millions of dollars‘ worth of donations and gifts from two figures tied to the crypto industry. The investigation was halted in July after Farage resigned as a member of Parliament, but resumed following his reelection as Clacton’s MP.　　The commission will probe cryptocurrency billionaire Christopher Harborne giving Farage $6.7 million as well as the Reform leaders staff and security funded by George Cottrell, a convicted fraudster tied to a crypto casino. Should the investigation determine that Farage violated parliamentary rules, he faces a possible suspension from parliament, which could trigger another by-election.　　Under UK parliamentary rules, new members must register all current financial interests within a month of their election, as well as any benefits received in the 12 months prior. Farage initially called Cottrell‘s donation a “reward” for campaigning for Brexit and later described both men’s contributions as “gifts” given “on an

08-15Industry

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