News linked to both this project and an event.
According to The Block, Galaxy Research stated in a report released on October 26 that the Bitcoin bear market ended in June and that the current moment presents an attractive opportunity to buy and hold. The report notes that as of October 18, Bitcoin had closed above its 50-week moving average for five consecutive weeks, breaking a prior streak of 44 consecutive weeks below the level. Meanwhile, the monthly average volume transacted from long-term holding wallets dropped from 67,000 BTC in 2024 to 34,000 BTC in 2026. Galaxy’s head of research, Alex Thorn, cautioned that this bullish thesis would face challenges if Bitcoin records a weekly close below the $76,540 50-week moving average and fails to reclaim it within a month.
According to CNBC, Arda, an AI manufacturing startup founded by former OpenAI research chief and ex-Palantir head of product and engineering Bob McGrew, has announced the completion of a $230 million funding round at a $1.5 billion valuation. The round was led by Altimeter Capital, Accel, and Khosla Ventures. Arda develops AI software and agents for manufacturing engineers, helping them build and adjust assembly lines faster. Its AI models have been deployed at defense technology company Anduril. McGrew noted that when product designs change, it takes just one day to retrain workers, whereas adjusting automated production lines typically requires three to six months. Arda runs its software using a combination of proprietary, open-source, and select frontier models, with robotics set to be included in its next product roadmap. Co-founders include Augustus Odena, Alex Mark, and Jakob Frick. Apoorv Agrawal of Altimeter stated that the global manufacturing industry amounts to $16 trillion, with approximately $3 trillion in the United States. McGrew joined OpenAI in 2017 and departed in 2024.
Odaily reports: Meta Chief AI Officer Alexandr Wang posted a photo with Hyperliquid founder Jeff and Cognition founder Scott Wu, all of whom were once HRT interns. Bitwise CEO Hunter Horsley noted that HRT's two co-founders, Alex Morcos and Suhas Daftuar, founded Chaincode Labs in 2014. The organization is located in Midtown Manhattan, New York, and is dedicated to advancing the Bitcoin network and providing resources for independent innovators in the Bitcoin ecosystem.
In a postmortem article published by Alex Shevchenko (@AlexAuroraDev), lead of NEAR Intents, a vulnerability was identified in the NEAR Intents contract's deposit notification mechanism when interacting with third-party contracts. The attacker deployed a contract that caused the notification call to fail, triggering the token contract to refund the deposits while the NEAR Intents contract retained the deposit records. Through 23 failed deposit transactions, the attacker generated approximately $3.8 million in "phantom funds," which were subsequently withdrawn to external chains via Omni infrastructure. This vulnerability resided in the NEAR Intents contract rather than in the Omni infrastructure. The timeline indicates the attack occurred between September 29 and October 1. The team detected withdrawal anomalies on October 1 and paused the contract within 29 minutes. Thanks to collaboration between the SHIELD security layer, on-chain tracking efforts, and industry security researchers, the attacker fully returned the funds on October 2, and all affected users have been compensated. The postmortem highlighted that existing monitoring only tracked discrepancies between aggregate token balances on the source chain versus NEAR, failing to monitor the mismatch between total user balances and contract token balances. This oversight allowed the attack to proceed undetected for several days. For remediation, the team has completely disabled the deposit notification functionality and implemented new monitoring for discrepancies between total user balances and contract balances. If this invariant is violated, the contract will automatically pause. On October 7, white hat research
The New York State Department of Financial Services has issued an order permanently banning Celsius founder Alex Mashinsky from participating in cryptocurrency business in the state. This ban is part of a settlement agreement related to his defrauding of investors and aims to completely sever his ties with the cryptocurrency industry.
Odaily News: As the crypto industry discusses whether users need to enter "bunker mode" before AI or quantum computing technologies expose wallet private keys, custody institutions face a more complex challenge: how to upgrade key management, approval, and audit systems before an emergency migration occurs.Project Eleven CEO Alex Pruden stated that institutions have already begun preparing for post-quantum migration outside of blockchain, and different blockchains may adopt different quantum-resistant signature schemes and migration paths in the future. Institutions holding multiple types of assets will face the challenge of simultaneously adapting to multiple cryptographic systems.Quantus co-founder and CEO Christopher Smith stated that AI is accelerating the development of quantum hardware and software, and the tail risk of quantum attacks should be incorporated into portfolio decisions — this is an institutional fiduciary duty.Currently, the timeline for quantum computers to crack Bitcoin and Ethereum's existing public-key cryptographic systems remains uncertain, but the industry is gradually viewing the coming years as a window for establishing migration plans, rather than waiting for an attack to occur before responding reactively. (CoinDesk)
According to The Block, World, an identity verification cryptocurrency project formerly known as Worldcoin, has officially launched its self-custody financial super app, World Money, available in more than 150 countries worldwide. The app supports stablecoin payments, trading, yield generation, virtual accounts, and other features. It manages balances in eight currencies and integrates with Stripe, Kalshi, and Morpho, allowing users to quickly convert fiat currency into stablecoins via Apple Pay through the Stripe partnership. Users who complete World ID verification are eligible for additional rewards in qualifying Earn programs. World is developed by Tools for Humanity, a company co-founded by Alex Blania and OpenAI CEO Sam Altman.
According to CoinDesk, the Algorand Foundation has officially appointed William Herkelrath as chief executive officer, succeeding Staci Warden, who served for nearly five years. Herkelrath previously held leadership roles at blockchain data provider Chainlink and crypto custody firm Curv, and co-founded the AI automation platform K3 Labs. He officially assumed office on August 31. The Algorand Foundation stated that the new CEO will focus on driving institutional business expansion and post-quantum security initiatives. To date, Algorand has introduced post-quantum accounts based on the Falcon-1024 lattice-based signature system through its v42 consensus upgrade, with plans to achieve full quantum resistance prior to 2028. Additionally, the foundation’s board is undergoing concurrent adjustments, with Alex Fowler joining while Rebecca Rettig and Michael Mosier depart.
Odaily News: Over the past 18 years, the Bitcoin market has repeatedly seen the narrative of "this time is different," yet the structure of each cycle has largely continued. In 2014, 2017, 2020-2021, and 2024-2025, BTC’s maximum drawdowns were approximately 85%, 84%, 77%, and 53%, respectively, showing a gradual narrowing trend.Alex Thorn, Head of Firmwide Research at Galaxy Digital, released a chart stating that the current BTC drawdown is significantly smaller than those of previous cycles. Analyst Willy Woo noted that as the supply shock from halvings diminishes, Bitcoin may be transitioning from a four-year cycle to a six-to-eight-year cycle, although this assessment cannot yet be confirmed.In previous cycles, gains from the low point to the next all-time high were approximately 580x, 130x, 22x, and 8x, respectively. Analyst James Check pointed out that Bitcoin’s price floor has risen each cycle, while its peak has remained relatively stable. Jesse Myers stated that BTC may have just entered a two-to-three-year bull market. (Bitcoin.com News)
: Galaxy's Head of Research posted on X, stating that on August 18, the U.S. Securities and Exchange Commission proposed the "Regulation Crypto Assets," abbreviated as Reg Crypto. The proposal aims to establish a legal pathway for certain tokens to be offered to the U.S. public and to set up a mechanism for terminating investment contracts. Its applicability is limited to crypto assets that are not themselves securities but were previously issued or sold as part of an investment contract; tokenized stocks, bonds, and arrangements bundling tokens with equity or other securities are not covered by the framework.The proposal sets out four stages: offering, disclosure, build-out, and exit. A one-time startup exemption allows issuers to raise up to $5 million over a maximum of four years; a higher-threshold exemption modeled on Regulation A permits raising $20 million or $75 million within 12 months. Such offerings must pass SEC qualification review and involve ongoing disclosure, with non-accredited investors capped at 10% of the higher of their annual income or net worth. Issuers are also required to disclose token supply and unlock schedules, minting and burning mechanisms, governance and smart contract permissions, source code, as well as project construction commitments and progress.Once an issuer completes or permanently ceases the relevant build-out obligations, makes no new construction commitments, and submits a transition report, the related investment contract will be deemed terminated, and the crypto asset will no longer be subject to securities laws under that investment contract. Issuers that did not use the above offering exemptions may also use this safe harbor. The SEC estimates that approximately 475 issuers per year would use the investment contract safe harbor, and about 130 issuers would use the two new exemptions. Offerings that qualify would not be considered restricted securities and could be resold immediately without contractual restrictions.The proposal also excludes covered initial offerings and certain secondary transactions from state registration and qualification requirements, but it does not address exchanges, brokers, dealers, or custody, nor is it a standalone innovative exemption for tokenized securities and on-chain transactions. The comment period is 60 days after publication in the Federal Register. SEC Chairman Paul Atkins and Commissioners Hester Peirce and Mark Uyeda all issued statements of support. The article was written by Alex Thorn.
Galaxy Digital Head of Research Alex Thorn stated that based on new victim reports received following the incident, the number of attackers exploiting the Coldcard vulnerability has reached at least 15.Thorn noted that information provided by victims helped the research team uncover previously unidentified attack activity. Unlike thefts from centralized exchanges, correlations between the attackers in this vulnerability exploit require confirmation through on-chain analysis and victim feedback.He added that a single victim reporting less than 1 BTC stolen helped the team discover a previously unknown attack, which siphoned approximately 12 BTC from 126 addresses.According to Galaxy Research's earlier estimates, the Coldcard vulnerability has led to at least three rounds of attacks, with losses amounting to approximately $100 million in BTC. Additionally, Galaxy has identified a suspected fourth round of attacks, which could bring total losses to approximately $130 million.Meanwhile, the incident has also sparked discussions regarding the security of Bitcoin self-custody. Dragonfly Managing Partner Haseeb Qureshi stated that "AI security hardening costing around $2" could potentially have prevented this vulnerability, and noted that some AI models were able to rediscover related vulnerabilities within a relatively short timeframe. However, industry insiders pointed out that current claims about the speed of AI discovering vulnerabilities lack rigorous blind testing and verification.Researchers believe that as AI model capabilities improve, the costs of vulnerability discovery and attacks in the crypto industry may continue to decline, requiring wallet developers to further strengthen code audits and security protections. (Cointelegraph)
Odaily News: U.S. Democratic Senator Alex Padilla plans to introduce new legislation that would prohibit presidents from offering paid services that provide users with early access to their public statements or social media posts. The bill targets a recently launched paid service by Trump Media & Technology Group that allows users to receive real-time alerts on posts from Trump and other figures on social platforms, some of which may involve information affecting financial markets.Alex Padilla stated that Trump's public remarks should not be sold as an "early trading advantage" to specific paid users. He believes that if market participants can gain faster notifications of presidential statements through payment, it could create an unfair information gap. As of now, Trump Media & Technology Group has not responded to the legislative proposal.
Odaily News, Galaxy Research Head Alex Thorn posted on X platform, stating that the attack targeting wallet addresses with weak random numbers generated by Coldcard is still ongoing. Users who still hold funds in Coldcard single-signature wallets should immediately migrate to secure addresses. New victim addresses and attacker addresses are continuously being added to the investigation database, and Galaxy Research plans to release updated statistics on the number of affected addresses.He noted that the previously identified waves 1, 2, and 3 of the attack exhibit clear programmatic characteristics, and the stolen BTC currently remains in the attacker's addresses without any transfers. However, in recent times, smaller-scale attackers have begun exploiting the vulnerability to steal funds and move them through peeling chains, cross-chain services, and other methods. It is certain that single-signature wallet addresses generated by Coldcard after the March 2021 firmware upgrade are all potentially at risk, and users should migrate funds as soon as possible.Previously reported, Galaxy Research has disclosed that the Coldcard vulnerability attack has affected approximately 1,367.05 BTC (approximately $88.6 million), involving around 4,585 addresses.
According to The Block, Alex Svanevik, CEO of on-chain data platform Nansen, stated that AI trading agents are expected to surpass human traders within the next two years. To this end, Nansen is expanding its platform from on-chain data analysis to direct trade execution, aiming to achieve "all-asset on-chain trading via agents." He mentioned that the platform has launched relevant trading features, with cumulative trading volume exceeding $500 million.
on July 28 that U.S. Senator Jon Husted publicly supported the Digital Asset Market Clarity Act, stating that if the United States wants to maintain its leading position in the digital asset field, it needs a clear, enforceable regulatory framework that supports innovation and employment.The CLARITY Act aims to establish the first comprehensive federal framework for crypto regulation in the U.S., dividing jurisdiction between the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC). The bill classifies tokens into three categories, granting the CFTC exclusive regulatory authority over the spot market for digital commodities, while the SEC continues to oversee assets that still resemble securities.Galaxy Research has lowered the probability of the CLARITY Act becoming law by 2026 from 50% to 30%. Alex Thorn, the firm's Head of Research, stated that the 60-vote threshold in the Senate is the main obstacle, and supporters may not yet hold a simple majority.The revised version of the bill proposes to prohibit the President, Vice President, members of Congress, federal judges, and their spouses from receiving compensation through the issuance or sponsorship of digital assets during their term in office until January 2029. It also requires relevant officials to sell their cryptocurrency holdings or place them in a blind trust.
Bitcoin mining pool Foundry USA has released a BIP-110 resource guide. Foundry USA stated that this guide is aimed at miners, helping them make informed decisions before the voting deadline at block 961,632.According to reports, the guide includes the official BIP-110 specification, a proposal website, discussions on the Bitcoin-dev mailing list, interactive explanations from Orange Surf, commentary by Jameson Lopp, as well as perspectives from Adam Back, Michael Saylor, Luke Dashjr, Alex Thorn, Softfork Mechanic, and others. (News.bitcoin)
security firm Project Eleven has introduced a post-quantum proof technology designed to help users prove ownership of their Bitcoin wallets after quantum computers become capable of deriving private keys and generating valid signatures. Project Eleven CEO Alex Pruden stated that the technology utilizes the wallet's key derivation path, enabling users to prove control without disclosing the parent key, thus distinguishing legitimate owners from attackers. The solution was developed in collaboration with Jim Posen, a primary maintainer of the open-source Binius zero-knowledge proof system, and is based on the "signature lifting" technique proposed by Alon Sattath and Robert Wyborski. Project Eleven noted that the prototype has not yet been audited and requires blockchain protocol support before it can be deployed. It is primarily aimed at users who miss the window to migrate to quantum-resistant addresses in the future.
Galaxy Digital Head of Research Alex Thorn stated that in 2024 and 2025, a large amount of long-dormant Bitcoin came back online and underwent on-chain transfers, on a scale second only to 2017. He believes this "major distribution" is mostly over, and the number of awoken coins in 2026 is expected to be less than half of last year's.
Galaxy 研究主管 Alex Thorn在 X 平台发文披露，围绕“Noah Doe”试图通过法律程序获得中本聪比特币所有权的遗弃比特币案件迎来重大进展，比特币政策研究所（BPI）已正式申请作为被告介入此案并寻求推动法院驳回全部诉讼。据悉，由律师事务所 White & Case 代理的 BPI 此次不仅申请介入案件，还提交了拟答辩文件、15 项积极抗辩理由并计划提出撤诉动议。 Alex Thorn 透露，BPI 称其具备介入资格，因为该机构长期自托管一部分计划无限期持有的比特币储备，而原告所主张的“长期未动用即构成遗弃”的理论，恰恰可能将类似资产纳入未来诉讼范围。如果本案的法律逻辑最终获得法院支持，未来可能成为剥夺长期自托管用户资产所有权的先例，所以这场诉讼不仅关乎中本聪相关资产，也关系到整个比特币自托管生态的法律基础。
Odaily News: U.S. Senator Ron Wyden has sent a letter to Senate Majority Leader John Thune and Senate Minority Leader Chuck Schumer, urging that any version of the "Digital Asset Market Clarity Act" considered by the Senate retain Section 604 to protect non-custodial blockchain developers who do not control user assets. Ron Wyden stated that developers should not be considered money transmitters simply because they create or publish software that allows users to manage their own digital assets. Coin Center Executive Director Peter Van Valkenburgh, the DeFi Education Fund, and Galaxy Digital Head of Research Alex Thorn have expressed support for this stance. Alex Thorn also noted that supporting developer protections does not mean Ron Wyden will endorse the entire CLARITY Act. Ron Wyden further stated that the provision does not protect developers involved in illegal activities and can direct law enforcement resources toward criminals and unlicensed money transmission businesses, rather than neutral software developers. (Bitcoin.com News).