We mapped the flow of funds for the Coldcard vulnerability based on the pattern identified by engineers at Block and shared by @clay_garrett
1,196 addresses drained in full for 1,082.65 BTC (~$70.2M) between 01:10:20 and 01:51:26 UTC on Jul 30 — a 41-minute window, blocks… pic.twitter.com/q785paZvMQ
— Galaxy Research (@glxyresearch) July 31, 2026
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Strategy Executive Chairman Michael Saylor pushed back Aug. 1 on reports that Strategy Inc. (Nasdaq: MSTR) had newly authorized up to $5 billion in bitcoin sales. His response followed a widely circulated social media post that presented the company’s existing capital-management framework as a fresh decision, prompting concern about potential selling pressure.
Saylor characterized the claim as recycled information and explained that the authorization was announced June 29 as part of the company’s Digital Credit Capital Framework. He reiterated that the program permits bitcoin sales for defined corporate purposes and that Strategy had announced no additional bitcoin sale authorization.
A July 6 filing with the U.S. Securities and Exchange Commission (SEC) recorded 3,588 bitcoin sold for $216 million between June 29 and July 5, following Strategy’s first bitcoin sale since 2022 of 32 $BTC to help fund preferred-stock dividend payments. It later issued $263.5 million in common stock without purchasing additional bitcoin, opting instead to increase cash reserves and liquidity. Those actions reflected the company’s broader effort to balance bitcoin holdings with funding requirements tied to its growing portfolio of preferred securities.
In another X post on Aug. 1, Saylor clarified that Strategy announced the $BTC Monetization Program on June 29, 31 days before reporting its second-quarter results, rather than after posting a quarterly loss. He added that Strategy has never maintained a “never sell” policy, the program requires no bitcoin sales, and the company expects to remain a net buyer over time.
Under the framework, management retains $1.25 billion in unused reserve-building capacity and may direct bitcoin sale proceeds toward dividends, interest, repurchases, taxes, fees, and transaction expenses. Analysts have argued that this flexibility could lower the risk of forced sales during periods of financial or market pressure.
Market observers remain divided over the structure. Supporters view it as a way to preserve liquidity and meet obligations without relying on hurried bitcoin disposals, while critics warn that supporting STRC near its $100 target could place added costs on common shareholders through higher dividends or further asset sales.
The June framework remains unchanged and authorizes sales only for specified corporate purposes. It has no fixed expiration date, and management may modify, suspend, or terminate it as market conditions, liquidity requirements, and corporate priorities change.
Any sale outside the framework’s approved purposes or established limits would require additional authorization from the company’s board.
Hyperliquid [$HYPE] is under pressure. At the time of writing, the decentralized exchange (DEX) token was down 9.1% in a week, and almost 20% down over the past 30 days.
Some whales are now unstaking their $HYPE and depositing the tokens onto centralized exchanges. According to AMBCrypto’s findings, this unstaking behavior may be getting more common among both retail and institutional investors.
With the price action leaning bearish, a descending channel can be seen on the price charts too.
On the bright side, the exchange has been expanding its revenue streams. Traders are paying priority fees to improve queue positions. This focus on execution rather than just trading volume can strengthen the long-term business model.
Even so, the shadow of institutional selling still looms over $HYPE. What will the upcoming price trends look like though?
Using the liquidation data of the past month for $HYPE, analyst Base Case D made the argument that a liquidation cascade might be around the corner.
A big magnetic zone of long liquidations sat at $52.38. A minor drop could hit these long liquidations, forcing these positions to close, amplifying the sell pressure in the short term and possibly leading to a liquidation cascade.
This meant that a cautious-to-bearish bias may be warranted in the short-term, the analyst concluded.
A sharp flush from liquidations tends to follow the longer-term trend thereafter. And yet, the wider market sentiment, especially for Bitcoin [BTC], has been firmly bearish lately.
The upward break above the swing high (green) hinted at a bullish swing structure continuation. The Fibonacci retracement levels plotted the potential bearish targets before the long-term uptrend can commence.
As things stand, a drop to $32-$42 would not be a surprise.
This, because the internal structure (dotted white) was beginning to turn bearish at press time.
This shift was more evident on the 4-hour chart. Though the OBV appeared to be flat, the price has been falling lower. A two-month range formation, whose low was at $53.3, has been breached too.
Hence, a deeper retracement towards $32 cannot be ruled out.
That has changed. The same structure is now applied well outside crypto. Traders can hold perpetual positions on gold, major currency pairs, and equities and stock indexes, settled onchain, on venues that did not exist three years ago. Decentralized platforms list synthetic exposure to individual large-cap stocks alongside bitcoin and ether, and centralized exchanges are extending perpetual products into commodities and indices. The growth is not incremental.
According to CoinDesk Research, real-world-asset perpetual volumes reached a record $211 billion in May 2026, roughly sixteen times their level of about $12 billion in the fourth quarter of 2025, with equity perps alone climbing 121% month over month to $54 billion. CoinDesk has reported analysts who expect equity perps to eventually surpass crypto perps in volume. The direction is worth stating plainly: while crypto is said to be moving toward traditional finance, traditional assets are moving onto the market structure crypto built.
The reason is practical. Perpetual markets are continuous, globally accessible, and settled on infrastructure that does not close on weekends or at the end of a session. For an asset such as gold or a large-cap stock, that is a materially different proposition from the one incumbent venues offer: no borrowing desk to arrange a short, no contract to roll before expiry, no settlement window to wait through. The instrument spread because it is more useful to trade, not because it was marketed.
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While exploits in crypto often grab headlines because of the sheer amount of money that gets stolen, Coates emphasized that many of these hacks actually originate outside of blockchain compromises themselves. “In many cases, it is an operational security issue or a Web2 issue that led to a key compromise,” he said.
This will only prove to be more difficult as artificial intelligence advances gives attackers better tools to exploit security practices.
“The social engineering piece is going to get a lot worse because of the power of AI and deepfakes,” Coates said. “We should expect full spoofed phone calls with voices of people that we know… there’s really no reason this won’t hyperscale.
To prevent that, Coates thinks crypto needs to come up with better systems that remain secure and work when people fall for these scams.
“You cannot fully prevent anyone from falling victim,” he said. “Eventually, you will be fooled because the cons are that good.” Organizations should thus have multiple layers of various degrees of security controls, so “when someone gets fooled, the other things take over to protect you.”
For the longer-term, the question of quantum computing largely looms on various crypto ecosystem’s futures, including that of Solana.
The future of the CLARITY Act, which aims to regulate the cryptocurrency market in the US, may depend on the Trump administration’s response to the new bipartisan ethics proposal.
According to cryptocurrency journalist Eleanor Terrett, the Trump administration is considering a counter-proposal drafted by Republican Senator Thom Tillis and Democratic Senator Ruben Gallego. This proposal would authorize state attorneys general to prosecute federal officials if the Justice Department fails to enforce ethics and conflict-of-interest rules.
The new proposal aims to address Democrats’ concerns that enforcing ethics clauses directly through the Justice Department, which is under the Trump administration, will not provide sufficient safeguards. A previous draft supported by the White House had drawn criticism for leaving enforcement authority with the Justice Department and for restrictions to expire in January 2029.
Related News Coinbase’s Bitcoin Premium Index Has Been Negative for 75 Days: A Record Has Been Broken—What Does This Mean?
According to Terrett, the White House is expected to evaluate the proposal over the weekend. If the parties reach an agreement on the ethical provisions, the Senate vote on the CLARITY Act could proceed. However, the bill needs the support of 60 senators to pass the procedural vote, and currently, the necessary support has not yet been secured.
The bill, which passed the Senate Banking Committee with a 15-9 vote, aims to define the limits of SEC and CFTC authority over crypto assets and create a comprehensive market structure for the sector. The bill also includes settlement provisions regarding stablecoin yields and some legal protections for software developers who do not offer custody services.
The compromise reached in stablecoin regulation restricts interest-like payments based solely on holding tokens, while allowing rewards linked to transactions, payments, loyalty programs, or platform usage. This attempts to strike a balance between banks’ concerns about deposit outflows and crypto companies’ demands to maintain their reward programs.
If agreement on ethical provisions cannot be reached, the CLARITY Act’s progress in the Senate could be halted again, and regulatory uncertainty regarding stablecoin rewards and the implementation of the GENIUS Act provisions could persist.
*This is not investment advice.
The negative premium period on the US-based cryptocurrency exchange Coinbase, caused by the Bitcoin price falling below Binance’s, has reached its longest period to date.
According to CoinGlass data, the Coinbase Bitcoin Premium Index remained in negative territory for 75 consecutive days between May 19 and August 1. The index’s final value was recorded at -0.0959%, marking the longest period of negative premium seen since the indicator’s inception.
The previous record was a 40-day streak of negative premium recorded between January 16 and February 24. The current period also significantly surpassed the approximately 30-day period of negative premium seen during the “October 10 crash” last year.
Related News Five Major New Features Are Coming to XRP—Ripple Official Reveals
The Coinbase Bitcoin Premium Index measures the difference between Bitcoin prices on Coinbase Pro and Binance. An index that remains in negative territory for an extended period indicates that the Bitcoin price on Coinbase is lower than on Binance. This typically signals weakening buying pressure or increasing selling pressure in the US market.
However, concluding that US institutional investors are exiting Bitcoin or that there is capital outflow from the country based solely on this indicator is not considered accurate. The index can also be affected by market liquidity, trading hours, investor profiles, and regional demand differences between exchanges.
*This is not investment advice.
