Multicoin Capital Unstakes 211,486 HYPE — A Sign of Market Shifts

The crypto market just witnessed a bold move that caught serious attention. Multicoin Capital appears to be taking profits on 606,091 $HYPE, valued at approximately $36.5 million, which they bought around $30 five months ago. This significant action comes as Multicoin deposited 395,570 $HYPE worth about $23.78 million into CoinbasePrime and requested to unstake an additional 211,486 $HYPE valued at $12.94 million, as reported by Lookonchain.  Breaking It Down  Market dynamics have shifted as Multicoin Capitals recent actions signal potential changes in trader sentiment around $HYPE. This profit-taking strategy indicates that major players may be looking to secure gains amidst a backdrop of mixed signals in the broader crypto landscape. The current price remains around $0, but the volume is notably absent, hinting at thin trading flow as traders await further developments. As the market absorbs this news, many will be watching closely for further movements from Multicoin and other large stakeholders in $HYPE.  Key TakeawaysMulticoin Capital took profits on 606,091 $HYPE valued at $36.5 million. The firm deposited 395,570 $HYPE into CoinbasePrime. They requested to unstake 211,486 $HYPE worth $12.94 million.  The Numbers  Despite the lack of trading volume currently reported, Multicoin‘s actions could set the stage for future movements in $HYPE and influence

07-23

950K Contacts Back CLARITY Act as Coinbase CEO Says Bill Is Ready for Full Senate Vote

Crypto Advocates Escalate Pressure on Senate  Stand With Crypto, a Coinbase-backed grassroots crypto advocacy group, said on July 22 that supporters have made 950,000 contacts and counting with members of Congress as the campaign to advance the CLARITY Act enters a decisive stage.  The group described the bipartisan legislation as a consumer-focused measure that has been years in the making and urged senators to take up the bill.  Coinbase CEO Brian Armstrong joined the push during a visit to Capitol Hill, thanking the groups members for contacting their representatives and urging lawmakers to complete work on the legislation.  Armstrong wrote on X on July 22:  “The Clarity Act is ready for a full Senate floor vote.”  The campaign follows the release of updated CLARITY Act text by Senator Cynthia Lummis (R-WY) after negotiations involving the Senate Banking and Agriculture committees.  The revised text also includes ethics provisions that would prohibit covered federal officials, including the president, vice president, and members of Congress, as well as their spouses, from issuing or sponsoring digital assets for compensation while in office. Officials could comply by divesting affected holdings or placing them in a qualified blind trust. The restrictions would expire Jan. 20, 2029.  Armstrong Sees Floor Action Within Weeks  In a video

07-23

SecondFi to wind down after $2.6M ADA theft linked to wallet flaw

Cardano-based wallet SecondFi is preparing to shut down after a security breach exposed issues around wallet security and left hundreds of users awaiting recovery options.  SecondFi said it will wind down SecondFi and Yoroi wallet services after attackers stole about 16.1 million ADA, worth roughly $2.6 million, due to a cryptographic flaw in its wallet software, according to an update published on Wednesday.  The platform said an independent investigation by blockchain intelligence provider Groom Lake identified a sophisticated external actor behind the attack and found indicators potentially linked to North Koreas Lazarus Group, although no attribution has been confirmed. It added that the breach hit 374 wallets.  The update came nearly a month after SecondFi first disclosed the exploit in late June, with victims still waiting for recovery tools and migration options that the company says are now targeted for release in August.  SecondFi plans recovery tools as users await next steps  SecondFi said it is developing a recovery tool based on zero-knowledge proofs to help exploited users recover assets while limiting the information they need to share.  The tool is still undergoing testing and will be reviewed by a third-party auditor before its planned release in August.  The platform is also preparing wallet export functionality that

07-23انڈسٹری

Bipartisan support 'critical' as Democrats push back on GOP crypto bill on ethics grounds

Quick TakeDemocrats are pushing back over the latest Clarity Act draft‘s ethics provisions, calling them too weak to address President Trump’s crypto interests and warning they wont support the legislation without stronger guardrails.The crypto industry praised the bill for providing regulatory clarity, while major banks opposed it, arguing it doesnt do enough to protect deposits from competition by stablecoin rewards.  Senate Republicans on Wednesday released a 616-page version of the so-called Clarity Act cryptocurrency regulation bill, the first major legislative effort to oversee the digital asset industry. While crypto advocates welcomed the measure, Democrats quickly signaled opposition over what they called weak ethics provisions tied to President Trump‘s crypto holdings, raising doubts about the bill’s path forward in the Senate.  The legislation, which combines earlier versions passed by the Senate Banking and Agriculture committees, drew strong support from the crypto industry. Advocates praised the retention of software developer protections and said the bill would deliver long-sought regulatory clarity to help the U.S. lead in digital assets.  Crypto Council for Innovation CEO Ji Hun Kim called bipartisan support “critical,” while Solana Policy Institute CEO Miller Whitehouse-Levine urged Congress to “seize the moment.” Coinbase CEO Brian Armstrong said the lack of a federal framework had

07-23انڈسٹری

UK Treasury races to solve cash barrier before tokenized bond debut

The UK Treasury has set Q1 2027 for its first tokenized sovereign bond transaction, but the project has remained dependent on finding a workable method to settle its cash leg on-chain.  CoinDesk reported that the missing payment mechanism has held back institutional use of digital bonds for almost seven years, even as governments and financial firms have built platforms for issuing tokenized securities.  Known as the Digital Gilt Instrument, or DIGIT, the pilot will test whether distributed ledger technology can reduce costs and improve the operation of UK capital markets. HM Treasury first announced the project in 2024 before selecting HSBCs Orion platform through a competitive process in February 2026.  According to a July 16 Treasury update, HSBC received Gate 2 approval under the Digital Securities Sandbox on July 13. The decision made HSBC the first sandbox participant cleared to provide live digital securities depository services.  The first DIGIT transaction will take place on HSBC Orion by the end of the first quarter of 2027, subject to the pilot meeting its remaining conditions. Chancellor Rachel Reeves also instructed the Treasury to prepare for possible additional issuances if the initial transaction succeeds.  HSBCs platform had supported more than $3.5 billion of digital bond issuance across sovereign,

07-23انڈسٹری

Bitcoin ETFs extend inflow streak to 6 days with $203M added

US-listed spot Bitcoin exchange-traded funds (ETFs) recorded their sixth consecutive day of net inflows on Tuesday, adding $203.1 million.  The Bitcoin ETFs attracted about $930 million over the six-session streak, their longest run of consecutive inflows since April, according to SoSoValue data.  The inflows came as Bitcoin traded above $65,000 and briefly climbed to $66,700 on Tuesday. At publication, Bitcoin traded at $65,802, up about 2% over the previous 24 hours, according to CoinGecko.  Broader crypto market sentiment also improved on Wednesday, with the Crypto Fear & Greed Index rising to “fear” from “extreme fear.”  The recovery comes as analysts said Bitcoin needs to break above and hold the $65,000 to $65,500 range to strengthen the case for a sustained uptrend.  The funds have accumulated $51.8 billion in cumulative net inflows since launch, while total net assets reached $80.9 billion. US spot Bitcoin ETFs remain at about $4.84 billion in net outflows year-to-date.

07-23انڈسٹری

Polymarket takes France to court after regulators block website

Polymarket has announced a French court challenge five days after regulators ordered internet providers to block the platform over gambling-loss and market-manipulation concerns.  Reuters reported on July 22 that the crypto-based prediction market intends to contest the National Gambling Authority‘s decision through France’s legal system.  “We are disappointed by the French gaming authority‘s (ANJ’s) sudden decision to unilaterally block our website — we intend to challenge this decision through the legal process in France,” Polymarket stated.  ANJ President Isabelle Falque-Pierrotin issued the order on July 16, directing French internet service providers to restrict access to Polymarket. According to ANJs statement cited by Reuters, the website attracted a large French audience while offering gambling and betting services that the regulator considers illegal under national law.  A spokesperson for ANJ told Reuters that the block would remain until the regulator considers Polymarket compliant with France‘s gambling rules. Polymarket’s planned case will now test whether the authority can continue restricting the website under its current classification of the platform.  Unlike conventional sportsbooks, Polymarket lets users trade contracts tied to outcomes in politics, economics, sports, weather and armed conflicts. Traders buy positions representing possible results, with contract prices changing as market expectations move.  French regulator focuses on losses and manipulation  ANJ

07-23انڈسٹری

Senate Republicans Push CLARITY Act With 15 Days Left as Bitcoin Struggles Near $66K

Bitcoin struggled to hold $66,000 on Wednesday, trading near $66,200 after bouncing between a low of $65,536 and a peak of $66,921.  Key TakeawaysBitcoin slid below $66,000 on Wednesday before steadying near $66,200 as market momentum stalled.The CLARITY Act update includes ethics rules for U.S. officials and $164 million in crypto liquidations.Bitwise CIO Matt Hougan noted that passing the Senate bill before the August recess ends crypto winter.  Intra-Day Volatility and Price Movement  Bitcoin, which came within a whisker of breaching $67,000 on July 21, struggled to hold $66,000 on Wednesday amid slow progress on the CLARITY Act in the U.S. Senate. Market data show the top cryptocurrency plummeted from its 24-hour peak of $66,921 to $65,727 during a seven-hour sell-off that lasted into the early hours of Wednesday.  A subsequent relief rally saw bitcoin reclaim $66,000, but momentum stalled, triggering a period of intense volatility that subsided shortly before 8 a.m. EST. Bitcoin then plunged to an intraday low of $65,536, quickly erased the losses, and then dropped back near $65,500.  At the time of writing (12:52 p.m. EST), the top cryptocurrency was trading just under $66,200, down 0.4% over 24 hours. Reclaiming the $66,000 threshold lifted Bitcoins market capitalization to just over $1.32

07-23انڈسٹری

US targets $26.4 million in five crypto scam cases as DOJ says $800 million recovered

U.S. prosecutors filed five civil-forfeiture complaints on July 21 seeking roughly $26.4 million in cryptocurrency traced through separate international fraud investigations.  Investigators can freeze suspected criminal proceeds before they know who is behind the scheme. They can then seek forfeiture while the search for suspects continues, with any final seizure and repayment to victims decided later.  The U.S. Attorneys Office for the District of Columbia said one investigation traced more than 270 suspected victim transactions involving fraudulent investment platforms. Another involved more than 200 romance-scam victims and hundreds of intermediary addresses used to commingle funds.  Across all five cases, DOJ said launderers were predominantly located in Southeast Asia, with associated IP addresses in China, Malaysia, and Cambodia.  The fifth and smallest case shows the danger of repeat victimization. A person who had already lost money to an unrelated fraud was then contacted by scammers claiming they had recovered the stolen funds.  The victim paid a fee and sent a series of transactions before investigators traced some of those transactions. The complaint seeks about $285,000, and efforts to recover additional funds are continuing.  From restraint to restitution  A freeze is intended to prevent identified cryptocurrency from moving. A civil-forfeiture complaint starts the next legal step by asking a

07-23انڈسٹری

AI models escaped OpenAIs sandbox and hit Hugging Face. Crypto is where that gets dangerous

OpenAI caught the anomaly internally, while Hugging Faces team detected and contained it. It called the incident unprecedented, and said extensive security steps will be put in place to prevent untoward incidents that may impact public systems or services.  “We are implementing strict controls in infrastructure configuration at the cost of research velocity while the vulnerabilities are patched,” the team said in its blog post. “Were improving and adding stronger protections around future training and evaluations.”  A simple explainer on how the model broke out to cheat. (Shaurya Malwa/CoinDesk)Crypto beware  Much of a crypto attack happens before funds move. Attackers scan code, test passwords, search for exposed credentials, analyze signing setups and look for a path into an administrator account.  OpenAIs models carried out several parts of that process during the Hugging Face incident, moving from one weakness to another until they reached live production servers.  And the crypto market has plenty of places for that approach to work, as several attacks from earlier this year have shown. The weak point may be a smart contract, but it may also be a developer laptop, a poisoned software package, a bridge validator or or one signer in a multisig wallet.  Drifts $285 million attack from earlier this

07-23انڈسٹری
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