Coldcard fallout shows up onchain as 210,000 bitcoin leaves old wallets

SummaryLong-term holder supply has fallen by roughly 210,000 bitcoin, from nearly 15 million BTC to approximately 14.7 million BTC.The movement comes with bitcoin almost 50% below its record high, unlike previous distribution waves near market peaks.The movement is linked to the Coldcard incident, with users transferring bitcoin to newly generated wallets or regulated custody services.  The fallout from the Coldcard security breach is now surfacing on-chain.  According to Glassnode data, roughly 210,000 BTC have moved out of long-term holder (LTH) wallets over the past week, the largest decline since December 2024, when bitcoin approached $100,000 for the first time.  Glassnode classifies long-term holders, or LTHs, as entities whose coins have remained dormant for approximately 155 days, or just over five months. This cohort is often considered the markets “smart money” because its members tend to hold through short-term volatility.  Long-term holder supply now stands at approximately 14.7 million BTC. Before the Coldcard incident, it was just under 15 million BTC, close to an all-time high.  Historically, heavy spending by long-term holders has coincided with periods of market strength or tops. Similar waves of distribution occurred around the market peaks of March 2021, March 2024 and December 2024, as experienced holders took profits into rising demand.  This

08-07انڈسٹری

Binance vs. RedotPay: The $470 Million “Ex-Partner Revenge Saga” — Who Owns the Users in Crypto?

In August 2026, the crypto world was thrown into chaos.  The worlds largest cryptocurrency exchange, Binance, filed a lawsuit against the three co-founders of leading crypto payment card company RedotPay in Hong Kong, seeking $472.8 million in damages. At the same time, Binance launched another legal action in Singapore against entities affiliated with RedotPay, with the hearing having concluded this morning.  On one side is Binance, the world‘s largest crypto exchange. On the other side is RedotPay, a rising star in Hong Kong’s stablecoin payment sector, widely known in the crypto community as the “Little Red Card”.  This is not an ordinary business dispute. In its lawsuit, Binance used a highly serious term: “fraudulent scheme.”  And at the center of this battle lies a question that every crypto user should pay attention to:  In the crypto world, who really owns the users?A $470 Million “Revenge of the Ex” Saga: Two Agreements, Two “Betrayals”?  The story begins three years ago...  In 2023, Visa stopped issuing Binance-branded cards in Europe, followed by Mastercard announcing the termination of its partnership with Binance. Binance‘s card service was gone, but users’ demand for spending crypto assets remained.  That was when RedotPay entered the scene.  Its product was simple: a crypto debit card connected to

08-07گہرا غوطہ

MARA swings to Q2 loss as Bitcoins slump masks higher output

Bitcoin miner MARA swung to a net loss of $611.3 million from a year-earlier profit in the second quarter of 2026, driven primarily by a change in the value of its Bitcoin holdings, despite reporting its highest quarterly Bitcoin production in more than a year.  The net loss, equivalent to $1.60 per diluted share, is down compared to a net income of $808.2 million, or $1.84 per diluted share, in the second quarter of 2025, according to the companys 10-Q SEC filing. MARA mined 2,422 Bitcoin in the quarter, 3% more than the prior year period, but higher production was more than offset by a 28% decline in the average Bitcoin price.  “Two things defined Q2 for MARA. Bitcoin prices created a challenging revenue environment [and] we used the quarter to fundamentally transform our power portfolio and capital structure,” said MARA chief financial officer Salman Khan during an earnings call on Thursday.  The quarter highlights MARAs exposure to Bitcoin prices even as it expands mining capacity and pursues AI and high-performance computing infrastructure. As of June 30, MARA held a total of 35,577 Bitcoin, with a total fair value of $2.1 billion, making it the fourth-largest public Bitcoin holder after Strategy, Twenty One

08-07انڈسٹری

CLARITY Act delay gives Asian financial hubs an opening: First Digital CEO

The US Senates delay of a vote on crypto market structure legislation could give Hong Kong and Singapore more time to strengthen their positions as digital asset hubs, according to First Digital founder and CEO Vincent Chok.  On Friday, Thunes office confirmed to Cointelegraph that the Senate would not vote on the legislation before the August recess. Thune cited Democratic opposition and said the bill would be a priority when senators return in September.  Chok, whose company issues the FDUSD stablecoin, said the delay could give jurisdictions with clearer regulatory frameworks an advantage in attracting capital and talent as US uncertainty weighs on institutional adoption.  He said the postponement leaves institutions without clear rules on market structure, custody and oversight. “Markets can adapt to slower timelines, but what they struggle with is prolonged uncertainty,” he said in a statement sent to Cointelegraph.  Delay fuels concerns over enforcement and offshore innovation  Chok said regulatory progress outside the US would continue regardless of the CLARITY Acts timetable.  “For Asia, this delay gives regional financial hubs like Hong Kong and Singapore additional time to demonstrate that clear regulation can coexist with innovation,” he said.  Maylea Ma, deputy general counsel at decentralized exchange aggregator 1inch, said that if Congress ultimately failed

08-07انڈسٹری

Scaramucci says crypto adoption will become invisible

SkyBridge Capital founder Anthony Scaramucci said on Aug. 7 that crypto adoption may reach its most important stage when consumers use blockchain infrastructure without knowing it is there.  Responding to an X user who argued ordinary people would never use crypto, Scaramucci wrote that they “will soon use crypto/blockchain without even realizing it.”  The claim is a forecast, not evidence that mass adoption has already arrived. Still, current payment and tokenization data provide examples of the model he describes: blockchain increasingly operates behind familiar interfaces while users interact with cards, wallets, brokerages and payment applications rather than raw addresses, gas fees or network settings.  Normal people will soon use crypto/blockchain without even realizing it. https://t.co/0U1Xwo50K2  — Anthony Scaramucci (@Scaramucci) August 6, 2026  Stablecoins already show how invisible crypto could work  Stablecoins provide the clearest existing test. Visa research using adjusted blockchain data estimated $10.2 trillion in stablecoin transaction volume over the previous 12 months, after filtering activity such as bots and internal exchange movements. Visa said adjusted volume was up 63% year over year, showing that blockchain settlement has expanded beyond speculative trading.  The Federal Reserve has also documented the trend. In an April note, researchers said stablecoin market capitalization grew about 50% during 2025, while transaction

08-07انڈسٹری

New XRPL Version Here: 6 Definitive Upgrades Every XRP Holder Needs to Know

XRP Ledger developers have officially released the major v3.3.0 update and launched validator voting on six key amendments that could fundamentally change the rules of the game for all network participants.  XRPL Foundation representative Vet has already called the release “historic and huge” for the entire ecosystem, bringing necessary elements for the XRP-focused network to make a major push toward privacy, institutional trading, and infrastructure optimization.  What the v3.3.0 Release Brings to XRP Ledger  The main feature of the update is the introduction of the Confidential Transfer amendment — the first privacy tool built directly into the XRPL protocol. The feature fully encrypts balances and transfers of Multi-Purpose Tokens (MPTs), which removes a key barrier for businesses and large investors: the size of their transactions and account balances can now be hidden from outside observers directly at the blockchain level.  Beyond privacy, the update changes transaction mechanics and capital management. In particular, the Batch amendment allows up to eight operations to be combined into a single package that is executed atomically — either everything goes through together or nothing does.  As Vet notes, this opens the door to secure, trustless swaps and professional over-the-counter (OTC) trading.  At the same time, the issue of security for large

08-07انڈسٹری

'Applesauce': Michigan judge denies Coinbase bid to block state enforcement of sports event contracts

Quick TakeA Michigan federal judge has rejected Coinbases preliminary injunction motion seeking to block potential state enforcement over its planned offering of sports event contracts.“Coinbases averments are, in a word, applesauce,” U.S. District Judge Shalina Kumar wrote in the ruling.  A Michigan federal judge has denied Coinbases preliminary injunction bid to block state enforcement against sports event contracts.  U.S. District Judge Shalina Kumar of the Eastern District of Michigan ruled on Thursday that Coinbase failed to establish that it is likely to succeed on the merits of its claims that federal law preempts Michigans jurisdiction.  The crypto exchange sued Michigan in December 2025, arguing that prediction markets fall under the exclusive jurisdiction of the Commodity Futures Trading Commission under the federal Commodity Exchange Act (CEA) rather than state gaming regulators.  Coinbase specifically seeks to use its platform to provide customers, including those in Michigan, access to event contracts offered by Kalshi.  The exchange claims that Michigans gambling laws are “conflict preempted” because they frustrate Congresss efforts to create a uniform federal regulatory scheme and because complying with both the CEA and the states Lawful Sports Betting Act (LSBA) would be impossible, according to the filing.  However, the judge rejected the arguments, holding that Coinbase failed to

08-07انڈسٹری

Upbit parent Dunamu to custody seized crypto for South Korean police

Dunamu has secured a one-year contract to take custody of digital assets seized by South Korea‘s National Police Agency after winning the agency’s public tender process.  According to a statement released by Dunamu on Aug. 7, the Upbit operator was named the final winner of the Korean National Police Agencys project to store and manage confiscated digital assets following technical negotiations that concluded the procurement process.  The announcement completes a bidding process that began earlier this year, with the company moving from preferred bidder status to the final contractor after negotiations with the police agency. The one-year agreement will place seized cryptocurrencies from police investigations under Dunamus custody platform.  Upbit Custody will manage seized crypto assets  Procurement documents show the contract was awarded through an open competitive tender administered by South Koreas Public Procurement Service. Dunamu said it received the highest technical evaluation score of 94.14 before being selected as the final contractor. The company had previously been designated as the preferred negotiating bidder on July 8.  Earlier procurement records valued the contract at 267 million won, or about $195,000, for one year of custody and management services covering digital assets confiscated during criminal investigations.  Under the agreement, seized cryptocurrencies will be stored and managed through

08-07انڈسٹری

Dow Protocol bags $10.5M to bring RWA financing to e-commerce merchants

Dow Protocol has completed a $10.5 million seed funding round to expand its blockchain-based financing model that advances working capital to e-commerce merchants against pending receivables.  SummaryDow Protocol has raised $10.5 million in a seed funding round led by crypto focused investors.The company provides working capital to e commerce merchants against pending receivables using a PayFi RWA model.Merchant repayments are collected automatically through integrations with e commerce platforms.The funding comes as tokenized real world assets continue expanding across blockchain based financial markets.  Dow Protocol announced the funding round on X, saying the investment was backed by MH Ventures, Mapleblock, Animoca Brands, Arcane Group, HSKChain, Essentia Partners, and Quartet Group. The company said it is building a PayFi real-world asset (RWA) structure that lets merchants receive financing before online marketplaces release their sales proceeds.  We are thrilled to announce Dow Protocols $10.5 Million Seed Round, backed by @mhventures, @Maple_block, @animocabrands, @ArcaneGrp, @HSKChain, Essentia Partners, and Quartet Group.  Dow Protocol builds the novel PayFi RWA structure for e-commerce working capital to reach… pic.twitter.com/Z9NA2O67nJ  — Dow Protocol (@DowProtocol) August 7, 2026  Unlike conventional merchant financing, which often requires businesses to wait for platform settlements or lengthy underwriting, Dow Protocol said its asset servicing partners provide funding based on merchants‘

08-07انڈسٹری

BNB Hits 80 Million Holders, Overtakes Tron as Biggest Stablecoin Network

BNB Chain has surpassed Tron to become the largest blockchain in terms of stablecoin holders, marking a significant milestone in the stablecoin ecosystem. BNB Chain currently has about 79.3 million stablecoin-holding addresses, just overtaking Trons 76.1 million, according to the most recent data from Token Terminal.  The accomplishment signifies a significant change in the use of blockchain technology over the previous 12 months. The number of stablecoin holders on BNB Chain has increased from about 42 million addresses to almost 80 million since late 2024, a roughly 54.5 percent increase.  The new home for Stablecoins  While Trons user base grew during that time, it did so much more slowly, which allowed BNB Chain to close a significant gap and take the lead. Since stablecoin holder growth reflects actual wallet adoption rather than just speculative trading volume, it is one of the best measures of blockchain activity.  BNB/USDT Chart by TradingView  Since stablecoins are the main settlement asset in centralized exchanges, decentralized finance, and payments, their distribution is a crucial indicator of network utility.  According to the most recent rankings, Ethereum has about 26 million stablecoin holders, with Celo coming in second with 24.5 million and Polygon with 21.7 million. Despite consistent growth throughout 2026, Base, Solana,

08-07انڈسٹری
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