Crypto Industry News & Market Trends

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

08-13Industry

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

08-13Industry

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

08-13Industry

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

08-13Industry

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

08-13Industry

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

08-13Industry

El Salvador‘s Bitcoin experiment turns 5: ’It was for us, not them

Its been five years since El Salvador became the first country to adopt Bitcoin as legal tender.　　President Nayib Bukele announced the plan at the Bitcoin conference in Miami on June 5, 2021, to the jubilant cries and applause of the Bitcoin community, who hailed the tiny Central American nation as living proof that BTC could be sovereign money.　　Bukele sold the experiment as a way to bank the unbanked, slash remittance costs, and attract investment to the impoverished nation.　　But five years on, who did the experiment benefit, and what did it actually achieve？　　Dr. Tobias Boos, a senior scientist at the University of Vienna who leads a research project examining the political economy of Bitcoin in El Salvador, tells Magazine:　　“There is little doubt that the project was a failure if we take seriously the reasons Bukele gave for its adoption. Foreign direct investment in this sector didnt increase, it did not effectively bank the unbanked, and it is not widely used for remittances.”　　Yet El Salvadors Bitcoin bet undeniably changed the conversation around the worlds number-one cryptocurrency, and turned nation-state adoption from a theoretical possibility into a living, breathing reality. Whether it succeeded or failed depends on what you think El Salvador was

08-13Industry

HashKey begins beta distribution of Hong Kong-regulated HKDAP stablecoin

Anchorpoint Financial, a Hong Kong-licensed stablecoin issuer, has added HashKey Exchange as an authorized distributor for its Hong Kong dollar stablecoin, HKDAP, potentially expanding access to the fiat-backed asset as Hong Kongs regulated stablecoin market takes shape.　　The companies announced on Tuesday that the arrangement is part of a beta rollout allowing eligible institutions and professional investors to access the stablecoin through HashKey and other supported channels. HashKey said it has already completed its first HKDAP minting and redemption transaction with eligible clients, including fiat on- and off-ramping.　　The companies said they plan to expand distribution over time and explore additional uses for HKDAP, including cross-border payments, settlement and tokenized finance.　　HKDAP, short for “HKD At Par,” is a regulated Hong Kong dollar stablecoin designed to function as tokenized money for payments and other financial transactions. Anchorpoint is a joint venture established by Standard Chartered Bank (Hong Kong), HKT and Animoca Brands, and was among the first companies to receive a stablecoin issuer license from the Hong Kong Monetary Authority.　　As Cointelegraph reported, Anchorpoint was established in April 2025, two months after Standard Chartered and Animoca announced plans to launch a Hong Kong dollar-backed stablecoin.　　Related: Circle expands USDC to OKX ecosystem with X Layer

08-13Industry

FlightAware drops Kalshi lawsuit one day after filing

Just a day after real-time flight tracking website FlightAware filed a lawsuit against prediction markets platform Kalshi over use of its name and data, the flight data company gave notice of voluntary dismissal of the case.　　In a Tuesday filing in the US District Court for the Southern District of New York, attorneys for FlightAware said that they had voluntarily dismissed the case against Kalshi. The flight tracking company had filed the lawsuit a day earlier, claiming that Kalshi had used its “data and name to run gambling markets on flight cancellations.”　　While the immediate turnaround could suggest a closed-door settlement, neither company had publicly commented on the case as of Wednesday. On Tuesday, a judge ordered Kalshi to show cause why the court should not issue a temporary restraining order over FlightAwares trademark and data.　　Notably, at least one event contract showed that Kalshi had changed its language from “FlightAware” to “Primary Source Agency” as the entity responsible for verifying data related to the outcome of flight cancellations, including that the trade did not “indicate an endorsement of this product or any affiliation” between FlightAware and Kalshi. Primary Source Agency linked to FlightAwares website. Cointelegraph reached out to the companies for comment

08-13Industry

Fidelity Files to Let Its Ethereum ETF Stake and Pay Investors

In briefFidelity filed a pre-effective amendment on Aug. 11 to let its spot Ethereum ETF, FETH, stake the Ethereum it holds.The fund would stake up to 100% of its holdings and pay rewards to investors as quarterly cash distributions.It follows Grayscale and BlackRock, which moved first after a Treasury and IRS safe harbor cleared the path.　　Fidelity has asked the SEC for permission to turn its spot Ethereum ETF into a yield-bearing product. The Boston asset manager filed a pre-effective amendment to its registration statement on Aug. 11, adding disclosure that the Fidelity Ethereum Fund (FETH) will stake the ETH it holds.　　The change would rewrite the funds stated objective. FETH currently tracks the Fidelity Ethereum Reference Rate, adjusted for fees. With staking, its goal becomes that index plus an amount based on staking rewards. The filing says the trust is expected to outperform the index before expenses.　　Myriad: Ethereum next price move？ Click the image to make your prediction.　　Staking is how Ethereum secures its network: holders lock up Ethereum, which trades as ETH, to help validate transactions and earn new tokens in return. Fidelity would route its ETH through custodians, including Anchorage Digital, BitGo, and Fidelity Digital Assets, to one or more

08-13Industry

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