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CLARITY Act May Be Shelved Until 2028 as Democratic Sweep of US Congress Puts Crypto Industry on the Back Foot
Odaily reports: The Democratic Party's major victory in the US midterm elections could reshape the crypto industry's policy environment in Washington. With crypto critic Sherrod Brown returning to the Senate and Elizabeth Warren continuing to wield influence in financial policy, the new Congress may focus more on scrutinizing Trump's personal crypto business dealings, including his affiliated project World Liberty Financial, rather than advancing industry-friendly legislation such as the CLARITY Act.Sharplink CEO Joseph Chalom expects the CLARITY Act could remain shelved until 2028. TD Cowen analyst Jaret Seiberg believes the CLARITY Act will struggle to make progress over the next two years, and the political environment could even prevent the industry-backed version of the bill from advancing. However, industry figures such as Circle emphasize that the crypto industry has a bipartisan nature, with lawmakers in both the Democratic and Republican parties supporting the crypto sector; even if the CLARITY Act is delayed, areas such as stablecoins and tokenized stocks may still make progress through existing laws and regulatory rulemaking. (CNBC)
Coldcard security incident loses 1,359.882 BTC, attacker address receives 10% coin-mixing offer
Odaily News: In the Coldcard security incident involving hardware wallet company Coinkite, the amount of stolen bitcoin has risen to approximately 1,359.882 BTC. According to statistics from the Coldcard Sweep Watch dashboard, most of the identified bitcoin remains in a small number of addresses controlled by the attacker. On August 1, one of the attacker's holding addresses received a transaction containing an OP_RETURN message. The message publicly offered a 10% fee for "washing" bitcoin, KYC assistance, and withdrawal services for stolen funds, along with a Telegram contact. Coinkite has released an urgent firmware update to fix the weak random number generation issue that caused the original vulnerability. The company stated that the new firmware only protects wallets created in the future and cannot fix seeds already generated on affected versions. Some users have reported that after installing the update, their devices remain stuck on an error screen, fail to boot, or appear bricked. This mainly affects Mk4 and Q devices, though some Mk3 users have also reported similar issues. As of August 2, Coinkite has not publicly confirmed a widespread firmware defect.
Whales Sweep 270,000 BTC Amid Record ETF Outflows, Bitcoin Shows Signals of Structural Divergence
The analysis points out that this phased divergence exhibits historical cycle characteristics: while institutional capital withdraws, long-term holders and whale accounts continue to accumulate, similar to the capital redistribution structure commonly seen in previous cycle bottom regions.
CLARITY Act May Be Shelved Until 2028 as Democratic Sweep of US Congress Puts Crypto Industry on the Back Foot
Odaily reports: The Democratic Party's major victory in the US midterm elections could reshape the crypto industry's policy environment in Washington. With crypto critic Sherrod Brown returning to the Senate and Elizabeth Warren continuing to wield influence in financial policy, the new Congress may focus more on scrutinizing Trump's personal crypto business dealings, including his affiliated project World Liberty Financial, rather than advancing industry-friendly legislation such as the CLARITY Act.Sharplink CEO Joseph Chalom expects the CLARITY Act could remain shelved until 2028. TD Cowen analyst Jaret Seiberg believes the CLARITY Act will struggle to make progress over the next two years, and the political environment could even prevent the industry-backed version of the bill from advancing. However, industry figures such as Circle emphasize that the crypto industry has a bipartisan nature, with lawmakers in both the Democratic and Republican parties supporting the crypto sector; even if the CLARITY Act is delayed, areas such as stablecoins and tokenized stocks may still make progress through existing laws and regulatory rulemaking. (CNBC)
Coldcard security incident loses 1,359.882 BTC, attacker address receives 10% coin-mixing offer
Odaily News: In the Coldcard security incident involving hardware wallet company Coinkite, the amount of stolen bitcoin has risen to approximately 1,359.882 BTC. According to statistics from the Coldcard Sweep Watch dashboard, most of the identified bitcoin remains in a small number of addresses controlled by the attacker. On August 1, one of the attacker's holding addresses received a transaction containing an OP_RETURN message. The message publicly offered a 10% fee for "washing" bitcoin, KYC assistance, and withdrawal services for stolen funds, along with a Telegram contact. Coinkite has released an urgent firmware update to fix the weak random number generation issue that caused the original vulnerability. The company stated that the new firmware only protects wallets created in the future and cannot fix seeds already generated on affected versions. Some users have reported that after installing the update, their devices remain stuck on an error screen, fail to boot, or appear bricked. This mainly affects Mk4 and Q devices, though some Mk3 users have also reported similar issues. As of August 2, Coinkite has not publicly confirmed a widespread firmware defect.
Related news
CLARITY Act May Be Shelved Until 2028 as Democratic Sweep of US Congress Puts Crypto Industry on the Back Foot
Odaily reports: The Democratic Party's major victory in the US midterm elections could reshape the crypto industry's policy environment in Washington. With crypto critic Sherrod Brown returning to the Senate and Elizabeth Warren continuing to wield influence in financial policy, the new Congress may focus more on scrutinizing Trump's personal crypto business dealings, including his affiliated project World Liberty Financial, rather than advancing industry-friendly legislation such as the CLARITY Act.Sharplink CEO Joseph Chalom expects the CLARITY Act could remain shelved until 2028. TD Cowen analyst Jaret Seiberg believes the CLARITY Act will struggle to make progress over the next two years, and the political environment could even prevent the industry-backed version of the bill from advancing. However, industry figures such as Circle emphasize that the crypto industry has a bipartisan nature, with lawmakers in both the Democratic and Republican parties supporting the crypto sector; even if the CLARITY Act is delayed, areas such as stablecoins and tokenized stocks may still make progress through existing laws and regulatory rulemaking. (CNBC)
Kalshi and Polymarket Both Predict Democrats Are Poised to Sweep the 2026 Midterm Elections
Odaily Report: Prediction market platforms Polymarket and Kalshi both favor the Democrats to win control of both the House and the Senate in the 2026 U.S. midterm elections. Polymarket assigns a 78% probability, with related market trading volume exceeding $58 million; Kalshi assigns a 74% probability, with related contract trading volume exceeding $100 million.Individual Senate race markets on both platforms also favor Democratic candidates: James Talarico has a 74% to 76% chance of winning in Texas, Troy Jackson stands at 73% in Maine, and Abdul El-Sayed at 78% in Michigan. Traditional polling also suggests Democrats may be heading for a "blue wave."Kalshi CEO Tarek Mansour said this election cycle is the first prediction-market election, with related betting volume already exceeding $1.4 billion. However, the platform previously failed to predict Brazilian President Luiz Inácio Lula da Silva's victory in the runoff, and its impact on voter behavior and election credibility has also drawn attention. (Bitcoin.com News)
Coldcard security incident loses 1,359.882 BTC, attacker address receives 10% coin-mixing offer
Odaily News: In the Coldcard security incident involving hardware wallet company Coinkite, the amount of stolen bitcoin has risen to approximately 1,359.882 BTC. According to statistics from the Coldcard Sweep Watch dashboard, most of the identified bitcoin remains in a small number of addresses controlled by the attacker. On August 1, one of the attacker's holding addresses received a transaction containing an OP_RETURN message. The message publicly offered a 10% fee for "washing" bitcoin, KYC assistance, and withdrawal services for stolen funds, along with a Telegram contact. Coinkite has released an urgent firmware update to fix the weak random number generation issue that caused the original vulnerability. The company stated that the new firmware only protects wallets created in the future and cannot fix seeds already generated on affected versions. Some users have reported that after installing the update, their devices remain stuck on an error screen, fail to boot, or appear bricked. This mainly affects Mk4 and Q devices, though some Mk3 users have also reported similar issues. As of August 2, Coinkite has not publicly confirmed a widespread firmware defect.
Whales Sweep 270,000 BTC Amid Record ETF Outflows, Bitcoin Shows Signals of Structural Divergence
The analysis points out that this phased divergence exhibits historical cycle characteristics: while institutional capital withdraws, long-term holders and whale accounts continue to accumulate, similar to the capital redistribution structure commonly seen in previous cycle bottom regions.