Do the Coldcard attacks mean all hardware wallets are now insecure?

Just when you thought crypto market morale couldnt sink any lower, along comes the Coldcard entropy bug to prove you wrong.  The discovery of a flaw in one of the industrys longest-running hardware wallets last Friday serves as a stark reminder that there is no perfectly safe place to put all your Bitcoin.  Coldcard disclosed the entropy-generation flaw affecting multiple Coldcard devices on July 31. Since then, researchers at Galaxy Digital say attackers have been able to steal more than 1,596 Bitcoin worth at least $100 million through several coordinated attacks.  Wallet manufacturers are now being forced to explain a process most users never even think about: how their wallet generates the private key to protect their Bitcoin.  Michael Tanguma, head of product at Bitcoin custody firm Onramp Bitcoin, tells Magazine:  “The whole model rests on trust that the vendor got it right […] Almost no individual can audit the hardware, the firmware and the entropy generation underneath their device.”  Coinkite, the company behind Coldcard, has released firmware fixes and told affected users to migrate their funds, but the incident has shaken Bitcoin HODLers to the core, and it raises an uncomfortable question:  If Coldcard wallets can be exploited, does that mean all hardware wallets are potentially

08-05انڈسٹری

SpaceX extends decline to 11% on lockup expiration and capex spending fears

SummarySpaceX shares fell 11 percent in pre-market trading as investors focused on heavy capital spending and a looming insider share lockup, despite the companys stronger-than-expected first earnings report.Revenue surged 92% to $7.8 billion and adjusted EBITDA nearly tripled to $3.5 billion, but SpaceX posted a $541 million net loss and spent $18.4 billion to expand Starlink, Starship and AI infrastructure.The company kept all 18,712 bitcoin on its balance sheet, taking a roughly $195 million fair-value hit that added earnings volatility.  SpaceX shares fell 11% in pre-market trading Wednesday as investors looked past a stronger-than-expected first earnings report and toward heavy capital spending and a major insider-share unlock due Thursday.  Revenue rose 92% from a year earlier to $7.8 billion, beating Wall Street estimates, while adjusted EBITDA nearly tripled to $3.5 billion. The company narrowed its net loss to $541 million, but spent $18.4 billion during the quarter as it expanded Starlink, Starship and its AI infrastructure.  SpaceX held all 18,712 bitcoin on its balance sheet through the quarter. The position was worth about $1.1 billion at the end of June, bringing into view the accounting risk CoinDesk flagged before the IPO — that bitcoin price swings now flow through the public companys quarterly

08-05انڈسٹری

Galaxy Digital shares slip 5% after second-quarter results

SummaryGalaxy shares fell 5% premarket after mixed quarterly results.The company posted a loss of just $0.09 per share, versus forecasts of $0.28, while revenue of $8.8 billion was shy of estimates of $9 billion.Helios generated data-center revenue for the first time, with Phase I expected to generate about $80 million per quarter starting in the third quarter.  Galaxy Digital (GLXY) shares are lower by a bit more than 5% in pre-market action after reporting quarterly results.  Galaxys $85 million net loss narrowed from $216 million in the first quarter, while its diluted and adjusted loss narrowed to $0.09 per share from $0.49. Street forecasts had been for a loss of $0.28 per share.  Its digital assets operation generated $66 million in adjusted gross profit, up 34% quarter-on-quarter, despite a 7% decline in trading volume.  Galaxys data center business generated revenue for the first time in the quarter as the company completed the initial phase of its Helios campus in West Texas.  The segment generated $20 million in adjusted gross profit and $11 million in adjusted EBITDA, reversing a $900,000 adjusted EBITDA loss in the first quarter. Galaxy delivered 200 megawatts of gross power, representing 133 megawatts of critical IT capacity, to CoreWeave under a 15-year

08-05انڈسٹری

Binance sues RedotPay over alleged $473 million user losses: Report

Binance-affiliated companies have sued Hong Kong-based cryptocurrency payments company RedotPay, alleging it diverted more than 470,000 users from Binance Card in breach of their commercial agreement.  The plaintiffs seek nearly $473 million in damages, arguing the alleged conduct helped fuel RedotPays growth as the company pursues a potential initial public offering (IPO), Bloomberg reported Wednesday, citing a Hong Kong court filing it obtained.  RedotPay said it is defending the proceedings and rejected what it described as “unfounded allegations” against the company and its co-founders. “RedotPay is strenuously defending the proceedings,” a RedotPay spokesperson told Cointelegraph, adding that it will respond through the appropriate legal process.  The legal dispute comes as crypto payments companies compete to expand stablecoin-based spending products, with RedotPay reporting rapid growth and a user base of more than 8 million customers globally.  Binance alleges RedotPay violated an agreement  According to the report, Binance alleged that RedotPay diverted more than 470,000 users from Binance Card in breach of a commercial agreement by allowing users to fund RedotPay stablecoin payment cards with Binance Pay outside the agreed terms.  Binance Holdings-affiliated entities, including Nest Trading, DistributedTechnologies and Chaintecs Consulting Singapore reportedly filed a petition against RedotPay co-founders Gao Zhangpeng, Chan Wa Choi and Yao Chao. Chaintecs

08-05انڈسٹری

World Chain becomes first production L2 to ship streaming Block Access Lists via Flashblocks

Quick TakeWorld Chain will become the first production Layer 2 to stream full EIP-7928 block access lists every ~200 ms inside every flashblock, according to an announcement shared with The Block.The upgrade lets validators verify independent transactions in parallel while blocks are still being built, aiming for up to 1 gigagas per second of throughput without needing more powerful hardware.The L2 will activate the feature on mainnet on Aug. 17 ahead of Ethereums Glamsterdam upgrade planned for later this year.  World Chain plans on becoming the first production Layer 2 blockchain to stream full EIP-7928 Block Access Lists inside every flashblock, with the feature rolling out on mainnet on Aug. 17, according to an announcement on Wednesday.  The upgrade enables validators to verify blocks in parallel while they are still being built, targeting throughput of up to one gigagas per second without requiring more powerful hardware. (A gigagas is a performance metric representing the processing of one billion gas units.)  “Traditionally, validators must re-execute every transaction in a block sequentially before confirming its validity,” the statement reads. “Full block access lists instead provide a record of the blockchain state each transaction reads and writes, allowing independent transactions to be verified simultaneously across multiple

08-05انڈسٹری

Mastercard expands stablecoin push with Crypto Credential pilot

Quick TakeMastercard has partnered with Borderless.xyz to pilot its Crypto Credential framework for cross-border stablecoin payment flows.The pilot marks Mastercards latest stablecoin initiative following its BVNK acquisition, regulated stablecoin settlement rollout, and crypto partner program.  Mastercard is expanding its stablecoin payments infrastructure through a new pilot with global liquidity network Borderless.xyz that will test how its Crypto Credential framework can support trusted interactions across cross-border stablecoin payment flows, the companies announced Wednesday.  Mastercard Crypto Credential provides a framework for verifying participants in blockchain transactions through standardized assurance signals that can be integrated into compliance and risk processes, according to a statement shared with The Block.  The companies said they will use the pilot to evaluate how the framework performs across Borderless.xyzs stablecoin payments network, with participating firms incorporating its assurance signals into their approval, compliance, and risk workflows.  Our relationship with Borderless.xyz began through Start Path and has continued to grow as the digital asset ecosystem has matured,“ Raj Dhamodharan, executive vice president, Blockchain re excited to take the next step together, exploring how Mastercard Crypto Credential can help bring greater trust and confidence to stablecoin payment flows across a growing network of participants.  Borderless.xyz operates a stablecoin orchestration and liquidity network and says it

08-05انڈسٹری

BlackRock stablecoin reserve fund secures top S&P rating

S&P Global Ratings assigned its highest principal stability fund rating to BlackRocks new tokenized money market fund on Aug. 3, recognizing its expected ability to maintain principal stability and limit losses caused by credit risk.  SummaryS&P assigned BlackRock‘s BRSRV its highest AAAm principal stability fund rating after Monday’s official launch.BRSRV held $50 million and maintained a $1.00 NAV as of Tuesday, according to BlackRock.The fund holds cash, short-term Treasuries and overnight repurchase agreements secured by Treasury instruments exclusively.USDT remains rated five, or weak, under S&Ps separate stablecoin stability assessment framework as published.BRSRV targets stablecoin issuers seeking eligible reserves under the GENIUS Act and future federal regulations.  The BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, or BRSRV, received an “AAAm” rating on the same day it began operating. BlackRocks official fund page showed $50 million in assets and a $1.00 net asset value as of Aug. 4.  S&P based the rating on the creditworthiness of the fund‘s investments and counterparties, its maturity structure and BlackRock Advisors’ policies for maintaining a stable net asset value. The agency said it identified “no weaknesses” in its assessment of management, credit research, risk controls and compliance.  You might also like:  S&P and Pantera exclude Bitcoin from new revenue-based crypto index  BlackRocks AAAm

08-05انڈسٹری

The $120 million Coldcard hack lights up Bitcoin's memory pool

Increasing network activity is often said to support valuations for the networks native coin, bitcoin . So far, the token has neither rallied nor dropped significantly and remains boxed in the recent range of $62,000–$65,000.  Analysts continue to point to the fate of the Clarity Act as the immediate catalyst while citing longer-duration government bond yields as a more macro and longer-lasting one.  “CLARITY is still the immediate policy binary. The Senate has a three-day window before its August 10 recess, while the implied probability of passage by year end has fallen to 23% from around 75% in mid-May. A push to attach prediction-market restrictions adds another process risk,” analysts at Marex said.  Meanwhile, Bitfinex said the bullish macro case for bitcoin could collapse if the real or inflation-adjusted yield on the U.S. 10-year Treasury note tops 2.5%.  “The 10-year real yield has not stayed above 2.5% since before Bitcoin existed, so there is no price history above that line. It is now at 2.41%, nine basis points below,” the exchange said.  Stay alert!

08-05انڈسٹری

S&P gives BlackRock tokenized reserve fund top stability rating

S&P Global Ratings assigned its highest principal stability fund rating to BlackRocks new tokenized money market fund.  The ratings provider assigned an “AAAm” rating to the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) on Monday, citing the creditworthiness of its investments and counterparties, its maturity structure and managements ability to maintain a stable net asset value.  S&P said it identified “no weaknesses” in its qualitative assessment of BlackRock Advisors management and organization, credit research and analysis, risk management and compliance.  The ratings provider also described the funds tokenization framework as operationally resilient, citing controls intended to mitigate cyber, smart contract and blockchain network risks. The fund uses a permissioned architecture that restricts transactions to whitelisted wallets.  BRSRV launched on Monday as an open-end management investment company, which seeks to operate so that its shares qualify as eligible reserve assets for payment stablecoin issuers under the GENIUS Act.  The fund will hold cash, US Treasury securities maturing in 93 days or less and overnight repurchase agreements secured by Treasury instruments. It will maintain a weighted average maturity of no more than 60 days and a weighted average life of no more than 120 days.  Related: Jim Cramer plans to sell his Bitcoin over quantum fears as BTC

08-05انڈسٹری

Circle Q2 revenue falls short of Wall Street estimates

Stablecoin issuer Circle reported $701 million in revenue for the second quarter of fiscal year 2026 on Wednesday, narrowly missing preliminary Wall Street estimates.  Circle reported $701 million in total revenue and reserve income, up 7% year-over-year, according to its announcement. It also reported net income from continuing operations of $48 million, marking a $530 million year-over-year increase.  Circle also reported $668 million in reserve income, which increased 5% year-over-year, primarily due to a 25% increase in average USDC (USDC) circulation.  The earnings results narrowly missed the average consensus of $713.32 million, according to Wall Street analyst estimates compiled by Yahoo Finance. Circles shares rose 5.7% in pre-market trading on Wednesday to change hands above $66.5, but remain down 20% year-to-date, according to Yahoo Finance data.  The earnings report comes weeks ahead of the public mainnet launch of Circles Arc blockchain, scheduled for Sept. 16. Ahead of the debut, the blockchain has more than 100 ecosystem and institutional builders, the company said.  Circle also revealed the founding validator cohort for Arc, which includes BlackRock, DTCC, Galaxy, Global Payments, ICE, Mastercard, MoneyGram, SBI Group, Standard Chartered, Sumitomo Corporation, and Visa, according to a separate announcement on Wednesday.  Management hiked its guidance for several key metrics, including other

08-05انڈسٹری
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