News linked to both this project and an event.
Strive Vice President Joe Burnett posted on X, saying that recent weeks may be among the worst in Bitcoin's history. Many people purchased approved hardware wallets, generated seed phrases offline, and followed established best practices, yet still lost significant amounts of Bitcoin due to a vulnerability affecting seed phrases generated by COLDCARDwallet since March 2021. The vulnerability went undetected for over five years. Joe Burnett stated this will permanently change people's confidence in self-custody. Self-custody will still exist, but it has been permanently changed. For those who want to directly control large amounts of Bitcoin, the standard should be multi-vendor multisignature, with keys independently generated using different hardware and different software, and stored in different physical locations. If they cannot accept this approach, they should use institutional-grade custodians. Joe Burnett noted that the current wave of Bitcoin adoption is occurring through ETFs, treasury companies, and institutional custodians, primarily driven by people who never intended to become experts in private key generation, hardware security, firmware, backups, inheritance planning, and physical storage. A single key generated by one hardware wallet protecting large amounts of Bitcoin carries excessively high concentration risk. Joe Burnett also said that institutional custody may ultimately lead to too much Bitcoin being concentrated in the hands of large companies, creating risks of censorship, seizure, and confiscation. However, Bitcoin's portability and settlement properties provide a critical counterbalance — users can create a wallet and request the custodian to send Bitcoin, shifting from counterparty risk to direct ownership within minutes. Joe Burnett believes that as long as Bitcoin itself remains secure, the failure of one custody method does not negate the underlying monetary system, but rather forces the market to develop better tools, stronger standards, and more resilient custody architectures. This week may ultimately mark the end of one era of Bitcoin custody and the beginning of the next wave of Bitcoin adoption.
Odaily News: Zurich-based crypto bank Sygnum Bank has integrated its regulated cryptocurrency services into the Bancastato online banking system, allowing clients in the Swiss canton of Ticino to buy, hold, and sell BTC, ETH, LTC, and SOL via Bancastato's web and mobile platforms without needing to open a separate exchange account. Bancastato has become the first bank to offer cryptocurrency trading through Sygnum's application programming interface within an Avaloq software-as-a-service banking environment. Clients can place market orders based on cryptocurrency quantity or dollar value, with Sygnum handling trade execution while Bancastato retains the client relationship, brand, and front-end experience. Sygnum stated that its B2B platform has provided trading, custody, compliance, and settlement infrastructure to more than 25 banks and international financial institutions, including partners such as Zuger Kantonalbank, Luzerner Kantonalbank, Postfinance, and VZ Vermögenszentrum. Sygnum noted that these collaborations have delivered regulated digital asset services to over one-third of the Swiss population through existing banking relationships.
Analyst Murphy stated that Bitcoin's current chip concentration is similar to that before the 2022 FTX collapse, and a highly concentrated chip structure could amplify price volatility. Jiang Zhuoer believes that if the CLARITY Act fails to pass before Congress adjourns, Bitcoin may witness the final drop of the bear market.
Galaxy Research stated on Friday that over 1,000 BTC from nearly 1,200 addresses have been moved, valued at approximately $70 million, with the transactions believed to be linked to a vulnerability affecting Coldcard hardware wallets.Earlier, Coldcard manufacturer Coinkite issued a warning on Thursday about an ongoing issue with seed phrases generated by Coldcard Mk3 devices. Out of caution, the company reminded all users who generated seed phrases using Mk3 devices with firmware version 4.0.1, released in March 2021, or later, that their funds may be at risk.Subsequently, Coinkite expanded the scope of its risk alert to include certain firmware versions of Mk4, Mk5, and Coldcard Q, and released emergency firmware updates for all affected models.Coinkite CEO Rodolfo Novak (also known as NVK) apologized on Friday and stated that the company takes "full responsibility" for the firmware vulnerability, acknowledging that internal review processes failed to identify the issue.Novak also suggested that the vulnerability may have been discovered with the help of artificial intelligence, noting that this incident reflects a "sobering reality under the new AI paradigm." He warned that AI-assisted code review could identify potential vulnerabilities faster than experienced security experts, while also making it easier for attackers to exploit weaknesses in public code.
Odaily News, according to Bitcoin News monitoring, Chainalysis analysis of the Coldcard exploit involving over $38 million shows that the attacker deliberately targeted the highest-value wallets first, including one holding $1.8 million, indicating that victims had already been profiled before asset transfers began. Approximately $30 million was stolen in the initial 10 minutes, followed by around 500 wallets being drained within 25 minutes. Block's Clay Garrett stated that investigators also confirmed the attacker used a paid account with a well-known blockchain service provider to query victim addresses during the operation. The provider's internal logs match the request timestamps and sequence, but Block stated that no evidence was found suggesting the company knowingly assisted in the theft. Relevant information has been shared with authorities.
According to BIT Official Chinese (@BITofficial_CN) analysis, the current crypto market faces dual pressure from the Federal Reserve's hawkish stance and the slowed progress of the CLARITY Act. Federal Reserve Chair Kevin Warsh maintains a hawkish stance; the 2-year US Treasury yield has risen cumulatively by approximately 35 basis points since late January, and the Committee has seen a pattern of 9 votes to maintain interest rates and 3 votes supporting rate hikes. Regarding the CLARITY Act, prediction markets indicate a mere 32% probability of it being signed by the end of 2026, with the legislative window continuing to narrow. Meanwhile, crypto market trading volume has retreated 80% from highs, total market cap has fallen approximately 50%, and USDT and USDC have shown no significant expansion since November 2025, reflecting an overall lack of new USD liquidity in the market. Despite this, Bitcoin remains within the $62,000 to $66,000 range, correcting only about 3% over the past week. It demonstrates stronger resilience compared to most altcoins, reflecting that active position adjustment pressure has been largely released. BIT points out that if Bitcoin subsequently regains $70,000 and drives multiple indicators to turn bullish, it will further confirm that the low point of this cycle has been established.
据 Cointelegraph 报道，加拿大比特币硬件钱包制造商 Coinkite 警告 Coldcard Mk3 用户立即迁移资金，受影响固件版本为 2021 年 3 月发布的 4.0.1 至最终版本 5.0.3，Mk4、Q 及 Mk5 不受影响。与此同时，比特币安全专家正在调查一起涉及 594.48 枚 BTC（约 3830 万美元）的异常清仓事件，涉及 1324 个 UTXO 在三个区块内通过 500 笔交易被转移，所有地址均为单签名地址。
Odaily News, BIT Official released a weekly report stating that trading volume in the crypto market has fallen 80% from its peak, contracting approximately 60% from the Q4 2025 high, while the total crypto market cap has also dropped 50%. The report noted that without a meaningful recovery in volume, the market will struggle to form a sustained rebound.Despite the market still digesting the double headwinds of the Fed's hawkish policy stance and stalled progress on the CLARITY Act, Bitcoin has held within the $62,000 to $66,000 range. BIT Official expects Bitcoin to eventually break upward.The report stated that Fed Chair Kevin Warsh has recently adopted a "say less, do less" communication strategy, and the uncertainty surrounding his policy stance is unsettling the market. Warsh has been known for his hawkish position over the past two decades, but the market had previously anticipated that, with Trump's support, he might push monetary policy in a more dovish direction. If that shift materializes, it could be a positive catalyst for Bitcoin.Additionally, prediction market data shows that the probability of the CLARITY Act being signed into law by the end of 2026 currently stands at just 32%. Senate Majority Leader John Thune has indicated that the Senate will prioritize other issues, and with the August recess approaching, the remaining legislative window for the bill is further narrowing.
Odaily News: Canadian Bitcoin hardware manufacturer Coinkite has warned users of Coldcard Mk3 signing devices to migrate funds from wallets whose seed phrases were generated by affected firmware. Coinkite stated that seed phrases generated by Mk3 firmware version 4.0.1 and later, released in March 2021, may put funds at risk, with the impact extending to version 5.0.3, the final version supporting the Mk3. Coinkite said that Mk4, Q, and Mk5 models are not affected; affected users should generate new seed phrases on unaffected devices, verify backups and receiving addresses, send a small test transaction first, and then migrate the remaining funds. The company said its investigation is still ongoing and that a formal technical review will be published. Bitcoin security experts are examining a centralized transfer of unclear origin involving 594.48 BTC in single-signature addresses, valued at approximately $38.3 million. Rob Hamilton, CEO and co-founder of AnchorWatch, stated that 1,324 unspent transaction outputs were moved via 500 transactions within a three-block window, with 562 BTC subsequently consolidated into another address. Kevin Loaec, CEO of Wizardsardine, said the current hypothesis is that a low-entropy random number generator has caused insufficient randomness in some wallets' seed phrases, with the relevant flaw potentially stemming from a software library, secure element, specific device batch, or firmware version. He added that this hypothesis has not yet been confirmed, and wallets from which only partial funds were transferred may still face the risk of subsequent theft.
: Bitcoin News posted on X platform, stating that Bitcoin Core developer instagibbs claimed to have successfully reproduced the reported COLDCARD vulnerability on a newly initialized COLDCARD MK3 device, using only the number of button presses during the setup process, and said, "Sorry, now is the time to panic." He believes the issue affects MK2/MK3 devices, but stated that it is currently unable to confirm whether the MK4 has the vulnerability. Developer Antoine Poinsot stated that the key difference is that the MK4 uses a hardware random number generator to provide entropy for the seed and actually utilizes the microcontroller's True Random Number Generator (TRNG), while the MK3 does not. The proof of concept and mnemonic phrase verification are still under review.
Odaily News: US Treasury Secretary Scott Bessent urged the Senate on Thursday to pass the Clarity Act, stating that the House of Representatives passed the bill over a year ago, and staff from the Senate Banking and Agriculture Committees have since conducted thousands of hours of negotiations on bipartisan amendments. Bessent stated that the bill will enhance consumer protection and anti-money laundering requirements while providing regulatory certainty for digital assets. He also noted that the Blockchain Regulatory Certainty Act provision within the Clarity Act will protect decentralized software developers, making it clear that they are not subject to the registration requirements of the Bank Secrecy Act. Bessent criticized Senate Democrats for delaying the vote for political reasons, arguing that the vote will determine whether the United States maintains its global leadership position in digital assets. He concluded his statement by quoting Bitcoin creator Satoshi Nakamoto: "If you don't believe me or don't get it, I don't have time to try to convince you, sorry." The Clarity Act aims to establish a federal framework for the US digital asset market and divide the regulatory responsibilities for digital assets between the SEC and the CFTC, with most crypto assets generally falling under CFTC jurisdiction. Senate Majority Leader John Thune recently indicated that the bill is not expected to pass the Senate before the August recess.
data center operator Core Scientific disclosed in its second-quarter regulatory filing that it paid $41.9 million to terminate the Bitcoin mining machine contract with Block and its Proto division, with related losses amounting to $41.9 million. Both the agreement and future equipment deliveries have been canceled. The agreement, announced in July 2024, originally called for Proto to supply 3nm mining chips, corresponding to approximately 15 EH/s in hashrate, and included options for additional purchases. Core Scientific stated that it will no longer invest in new mining machines to maintain or expand hashrate, will generate cash flow from existing mining machines, and will sell or retire machines as appropriate. Core Scientific's second-quarter hosting revenue increased from $10.6 million in the same period last year to $137 million, accounting for 83% of total revenue; self-mining revenue fell 66% year-over-year to $21.5 million, representing 13% of total revenue. The company stated that quarterly Bitcoin production decreased by 53% year-over-year, and it continues to shift power from mining equipment to high-density computing systems such as GPUs.
According to Cointelegraph, Japanese game developer Gumi announced that starting this Saturday, it will jointly operate a crypto asset fund sized at 3 billion yen (approximately $18.3 million) with SBI Financial Services, with institutions such as Daiwa Securities Group participating in the investment. The fund is operated by SBI Crypto Fund (SBI Financial Services holds 51%, Gumi's subsidiary gC Labs holds 49%), mainly investing in Bitcoin and mainstream altcoins, and adopting strategies such as staking, rebalancing, and hedging. Gumi stated that this move aims to build a bridge between the Japanese corporate sector and the crypto market, and to prepare in advance for Japan's potential future lifting of the crypto ETF ban. As of April 30, 2026, Gumi's held crypto assets have reached 14.13 billion yen, nearly doubling compared to 7.58 billion yen a year ago, with its crypto business core assets consisting primarily of XRP.
: Japanese game developer Gumi announced it will launch a 3 billion yen (approximately $18.3 million) crypto asset fund this Saturday in partnership with SBI Financial Services, with support from Daiwa Securities Group and other investors. The fund will be operated by SBI Crypto Fund, a joint venture in which SBI Financial Services holds a 51% stake and Gumi's subsidiary gC Labs holds the remaining 49%. The fund will primarily invest in Bitcoin and major altcoins, employing strategies such as staking, portfolio rebalancing, and hedging. Gumi stated that the fund aims to bridge Japan's corporate sector with the crypto market and establish an operational track record ahead of a potential future lifting of the ban on crypto ETFs in Japan. Gumi's crypto business also includes managing its own crypto assets centered around XRP, offering portfolio management services through Hinode Technologies, and operating a crypto investment fund. According to Gumi's latest annual report, as of April 30, 2026, the company held 14.13 billion yen in crypto assets, nearly double the 7.58 billion yen recorded a year earlier.
According to Bitcoin.com, Binance's investigation team, jointly with India's Narcotics Control Bureau (NCB) and the Data Security Council of India (DSCI), successfully dismantled the darknet drug trafficking organization "Team Kalki". Reportedly, the gang used cryptocurrencies, the encrypted communication platform Session, the darknet forum Dread, and "dead drop" methods to distribute drugs within India, with supply originating from overseas suppliers; authorities have seized a large quantity of drugs from domestic and international packages. Binance and DSCI assisted law enforcement officers in identifying and freezing crypto assets related to the gang through blockchain analysis and wallet tracking technology. Binance Asia-Pacific Head S.B. Seker stated that the public transparency of blockchain makes illegal transactions easier to track and investigate.
Bitcoin News posted on platform X, stating that New Hampshire Governor Kelly Ayotte has signed HB 639 into law to enhance legal protections for Bitcoin and digital assets. The law protects self-custody rights, prohibits state and local governments from restricting blockchain use, bans discriminatory cryptocurrency taxes on purchases, exempts miners from money transmitter licensing requirements, and establishes a dedicated court docket for blockchain disputes. This measure further solidifies legal certainty for Bitcoin users, miners, and the broader digital asset industry.
According to Bitcoin.com, digital asset wealth platform Nexo announced the completion of an upgrade to its European Economic Area (EEA) operational structure to comply with the EU's Markets in Crypto-Assets Regulation (MiCAR). Nexo chose to partner with two entities regulated by the German Federal Financial Supervisory Authority (BaFin) rather than directly applying for a single MiCAR license: Tangany holds a MiCAR license and is responsible for providing segregated digital asset custody infrastructure; DLT Finance holds both MiCAR and MiFID II authorizations and is responsible for providing brokerage and execution infrastructure. Currently, all of Nexo's services in the EEA are operating seamlessly without any interruption.
hardware wallet company Trezor stated there is a distinction between Bitcoin self-custody and holding Bitcoin credit exposure. When users store assets on exchanges, brokerages, or funds, they are actually relying on third-party ledger records and withdrawal arrangements. The company noted that after the full implementation of new EU crypto regulations, some exchanges that failed to obtain licenses in time have stopped offering regulated services to EU users. Trezor stated that its founders Marek Palatinus and Pavol Rusnák launched the first hardware wallet 12 years ago, moving private keys from internet-connected computers to dedicated devices. Trezor explained that private keys are generated on the device and never leave it, with transactions being signed inside the device before being sent. Trezor CCO Danny Sanders previously stated that if users put Bitcoin into ETFs and call it Bitcoin ownership, it would be one of the worst outcomes for the industry. Trezor estimates that among approximately 600 million global crypto users, about 10% self-custody their private keys, and around 12 to 13 million people use hardware wallets.
According to Cryptopolitan, the Central Bank of Russia (CBR) has released a draft of supporting regulatory rules for the cryptocurrency market, covering registration and operational requirements for crypto exchanges, digital depository institutions, and token issuers. The draft stipulates that the minimum net assets of digital depository institutions must range between 50 million and 250 million rubles (approximately $600,000 to $3 million), depending on the nature of the business. These rules will supplement the "Law on Digital Currency and Digital Rights" passed by the Russian State Duma earlier this month, which is expected to officially take effect on September 1, 2026. Under the new framework, non-qualified investors are limited to purchasing mainstream assets such as BTC, ETH, and USDT annually, with a cap of $4,000; industry participants will have a transition period until March 1, 2027, to complete compliance and approval procedures.
Hyperliquid co-founder iliensinc responded to the abnormal SK Hynix pricing incident on Trade.xyz this morning, stating that Hyperliquid is a permissionless blockchain, and different teams can deploy and operate markets based on its infrastructure. Among them, the xyz:SKHYNIX perpetual contract was deployed and is operated by the XYZ team. The XYZ team is currently investigating the situation and will release updates once a conclusion is reached.Iliensinc also explained that the HIP-3 market deployer is responsible for providing data such as the mark price, oracle, and external perpetual contract price. Taking the pricing mechanism of a BTC perpetual contract as an example, the protocol provides the median of the latest on-chain transaction price, the best bid price, and the best ask price as one of three price components. The other two prices are provided by the deployer, and together these three influence the final mark price.