Tag: CRYPTOS FoxBusiness

At least 15 different attackers have exploited the Coldcard vulnerability, according to Galaxy Digital’s head of research, Alex Thorn, citing new victim reports received since the incident.

Thorn said Tuesday that the victim reports helped the company label new attackers that would have gone undiscovered, as the nature of the exploit was different from a hack on a centralized exchange.

“Due to one single victim’s report of less than 1 $BTC stolen, we identified a new attack with 12 $BTC siphoned from 126 addresses,” Thorn wrote in a Tuesday X post.

The estimated losses from the Coldcard exploit have grown to $100 million across three confirmed attack waves, according to Galaxy Research. The company also identified a suspected fourth wave that could bring total losses to about $130 million in Bitcoin ($BTC).

The ongoing attack reignited debate about the security of cold storage wallets and whether users are safer by holding their own Bitcoin.

$2 worth of AI hardening could have prevented the exploit: Dragonfly partner

Roughly “$2 of AI hardening” could have prevented the Coldcard exploit, wrote Dragonfly managing partner Haseeb Qureshi, citing social media reports that some AI models rediscovered the vulnerability that led to the attack in less than 20 minutes.

Qureshi’s remarks came in response to multiple social media users claiming that Claude was able to regenerate the vulnerability in just eight minutes. He argued that these results may have been contaminated by web search and added that open-source AI model GLM 5.2 was able to rediscover the attack in 20 minutes with web access turned off.

However, it is unlikely that AI models would have independently discovered this vulnerability before it was made public, crypto analytics platform Tokenomist’s data lead, Tatsapat Saerejittima, told Cointelegraph. He said:

“The claim that AI found it in 2 mins came from a pseudonymous Reddit user who scanned the code after the vulnerability had already become public. There was no blind test, no documented methodology, and no assessment of the model’s false-positive rate.”

Vulnerability seen in private key setup

Crypto research company Castle Labs’ co-founder, Francesco, said that the growing capabilities of AI models are drastically reducing the cost and time it takes to discover new cryptocurrency vulnerabilities, but added that Coldcard’s private key may have played a role in the vulnerability.

Coldcard used a “level of private key entropy (40 bits) much lower than the standard adopted by other wallets (a 12-word seed is 128 bits), a result of a firmware bug, making the job easier,” he told Cointelegraph.

Francesco, who asked that Cointelegraph not use his last name, said he expects the cost of bug discovery to continue decreasing as AI models gain more capabilities and become more prominent in both cybersecurity and exploits.

Magazine: Does Botanix’s failure prove Bitcoiners don’t care about DeFi?

History has a way of repeating itself, and right now, that’s exactly what the market seems to be pricing in. Of course, there’s no guarantee that past events will play out the same way again.

But in trading, investors often look at historical patterns and previous cycles to guide their decisions. This sometimes creates the illusion of “history repeating itself,” when in reality, it could simply be a market coincidence.

Now, with the latest PMI data, a similar setup appears to be forming. As the chart below shows, the U.S. ISM Manufacturing PMI came in at 55.6, above the expected 54. This marked its highest level since June 2022.

A stronger PMI typically points to improving manufacturing activity and a healthier economic backdrop, which could influence risk assets like Bitcoin.

Notably, this is where historical patterns start becoming interesting.

Can PMI repeat Bitcoin’s 2017 and 2021 rallies?

According to one analyst, every time the ISM PMI has sustained levels above 55, the crypto market has entered a major upside phase. The analyst highlighted that the same signal behind the 2017 and 2021 crypto bull runs has resurfaced.

During those cycles, the total crypto market cap broke above $500 billion and $2 trillion, respectively, while Bitcoin rallied 1,336% and 59% in those periods.

That said, this signal alone does not guarantee that Bitcoin is about to repeat the same move, especially with $BTC still stuck in a broader bearish phase and down more than 25% in 2026.

However, the timing of the stronger PMI data is notable, arriving as markets are closely watching rate expectations, with the odds of a rate hike at the next FOMC meeting currently sitting at 64%.

Meanwhile, Bitcoin’s ability to hold strong despite rising on-chain selling pressure adds another layer to the setup, suggesting that the improving macro backdrop from the PMI report could be laying the foundation for a potential shift in market momentum.

Bitcoin’s resilience meets rising selling pressure

Calling Bitcoin’s [$BTC] resilience above $60k a potential bull trap is not entirely far-fetched.

From an on-chain perspective, selling pressure is picking up across multiple cohorts.

BlackRock recently moved 1,948.07 $BTC, worth around $122.03 million, into Coinbase Prime, while Bitcoin miners sold roughly 1,774 $BTC, valued at around $112 million, over the past week. Adding to the bearish narrative, Jim Cramer also warned about selling his Bitcoin holdings over quantum computing concerns.

But the bigger takeaway is the sudden reactivation of dormant cohorts after years of inactivity. As the chart below shows, the long-dormant Bitcoin supply is beginning to move again.

Bitcoin aged 2-7 years has started flowing back into exchanges, with the 3-5 year and 5-7 year cohorts surging by 595% and 1,016%, respectively. This suggests that some LTHs are taking action, adding another layer of uncertainty around Bitcoin’s current price resilience.

Can PMI offset Bitcoin’s selling pressure?

Against this backdrop, the latest PMI report starts to carry more significance.

The logic is straightforward: Key macro data releases this week could shape expectations heading into the September FOMC meeting. As mentioned earlier, rate hike odds have recently climbed above 64%.

In this environment, the stronger PMI print could be the first bullish signal, suggesting that the macro backdrop may be turning more supportive for Bitcoin and other risk assets.

This is why $BTC’s resilience despite rising selling pressure may not be just another bull trap. Instead, it could signal that improving macro conditions are helping Bitcoin absorb the pressure.

Final Summary

• Bitcoin is holding above $60k despite heavy selling pressure.
• A strong PMI report could give $BTC a boost by improving market confidence.

Crypto analyst Ali Martinez shared critical technical levels for Bitcoin, Hyperliquid, and $XRP, noting that the amount of $BTC being moved to exchanges and miner sales could increase selling pressure in the market.

According to Martinez, Bitcoin is testing the upper boundary of a descending channel formation. Therefore, the $64,300 level stands out as a critical threshold for short-term price movements.

The analyst stated that a four-hour candle close above $64,300 would confirm a breakout from the descending channel. In such a scenario, the $BTC price could initially reach $65,500, and if the uptrend continues, it could advance further to $66,500.

However, Martinez also pointed out on-chain developments that could increase selling pressure on Bitcoin. According to data shared by the analyst, more than 20,000 $BTC were transferred to cryptocurrency exchanges in a short period of time.

The influx of Bitcoins into exchanges is being interpreted as an increase in potential selling pressure in the market, as it could signal that investors are preparing to sell. Martinez stated that $BTC inflows to exchanges should be closely monitored.

Bitcoin miners have also been seen selling recently. According to Martinez, miners sold approximately 1,774 $BTC worth about $112 million in the last week. The analyst interprets this movement as a new wave of profit-taking among miners.

Martinez also warned that the technical outlook for Hyperliquid’s native token, $HYPE, could weaken.

The analyst noted that the $HYPE price has reached a significant resistance trend line, and that the TD Sequential indicator has generated a sell signal in the same area.

He stated that if sellers gain control of the market in the resistance zone, the $HYPE price could fall towards the $50 level.

According to Ali Martinez, the most important price level that will determine the direction of $XRP in the coming period will be $1.06.

The analyst stated that if $XRP manages to stay above the $1.06 support level, buyers could regain strength, and the price could target the $1.35 and $1.64 levels respectively.

However, Martinez stated that if the $1.06 support level is lost, selling pressure could accelerate, warning that the $XRP price could fall first to $0.80 and, if the decline deepens, to $0.62.

*This is not investment advice.

Prevailing crypto market trends suggest an ongoing decoupling of the ecosystem from its original FOMO-based speculative undertone. The influx of institutional investors via spot ETFs seems to have adjusted Bitcoin’s price patterns and those of top cryptocurrencies.

It is now common to find experts and market analysts combining Bitcoin and mainstream assets such as the S&P 500 and Nasdaq. These assets are often highly influenced by mainstream economic indicators. One of the strongest market indicators expected this week is the Non-Farm Employment Change, also known as Non-Farm Payroll (NFP), on Friday.

NFP Expectations for August

This is one of the most significant indicators for the crypto market. It measures the change in the number of employed people during the previous month, and analysts consider it a significant metric for gauging the nation’s economic heartbeat.

The consensus forecast as of the time of writing expects the economy to add between 85,000 and 91,000 jobs, showing a slight rebound from June’s highly disappointing print of 57,000. Meanwhile, the national unemployment rate is projected to edge up slightly to 4.3%. Meanwhile, the public and investor sentiment going into this event is highly anxious and cautious.

The Federal Reserve’s latest actions have systematically stretched the market, with participants actively trying to price in the financial regulator’s potential monetary decisions. A strong print above 100,000 jobs could reinforce bets on a Q3 rate hike, while a second consecutive weak print would amplify fears of an economic slowdown.

Investors’ Approach to the August NFP

Despite these expectations, public confidence in the initial monthly data remains low. June’s figure missed estimates by over 50%, and prior months—April and May—suffered severe downward revisions totaling 74,000 jobs. This leaves investors cautious, knowing that things could change no matter the initial outcome.

For most digital asset investors, a safe approach would be to monitor leading indicators such as the ISM Services PMI and Initial Jobless Claims scheduled for release before Friday. They could also consider tightening stop-losses on high-beta tech stocks (Nasdaq) and volatile crypto holdings (Bitcoin) before Friday morning to insulate against heavy>Investors would do well to analyze the indicator’s post-release revisions, looking beyond the headline and checking for any revisions. That would help in understanding the true trajectory of US employment, enabling better investment and trading decisions.

Potential NFP Effect on Assets

For context, the S&P 500 is up approximately 1.1%, riding an early August geopolitical relief. A stronger job market may trigger selling on rate-hike fears, while a moderate print keeps the “soft-landing” narrative alive. Meanwhile, the Nasdaq has rebounded from a 3.2% loss in July, reflecting a gain of roughly 1.7% in August. It is crucial to note that tech valuations are vulnerable to interest rate projections. Therefore, hot wage growth or high NFP could suppress recent tech gains.

Bitcoin, the largest cryptocurrency by market cap, is hovering around $63,700 at the time of writing. The cryptocurrency has diverged from stocks in 2026, dropping significantly from highs due to high real interest rates. Investors believe a weak NFP that stops Fed hikes would benefit BTC the most.

Related:Crypto Markets Brace for Volatility as Key Economic Data Arrives

Australia taxes cryptocurrencies under its existing income tax and capital gains tax rules rather than through a separate crypto tax regime. Depending on the transaction, investors may owe capital gains tax, ordinary income tax, or both.

As of 2025-26, people who own crypto assets must report the following transactions: selling, trading, using, earning through staking, and using crypto in DeFi.

The outcome of taxation will vary depending on the type of activity. Selling, swapping, spending, or gifting crypto can produce a capital gain or loss, while staking and some DeFi activities may create ordinary income.

How Does Australia Tax Crypto?

The Australian Taxation Office (ATO) considers investment cryptocurrency as a capital gains tax asset. CGT is not a separate tax; its rate depends on an individual’s marginal tax rate, and the investor simply includes net capital gain in assessable income.

Australian residents for tax purposes, excluding temporary residents, report crypto income and capital gains from Australian and overseas platforms. Using a foreign exchange does not remove this reporting obligation.

The 2025–26 income year ran from July 1, 2025, to June 30, 2026. Taxable crypto income and CGT events that occurred during this period belong in the 2026 tax return.

Which Crypto Transactions Are Taxable?

A CGT event happens when an investor disposes of crypto. This includes selling it for dollars, swapping it for another token, spending it, or giving it away. Using investment crypto to buy an NFT also disposes of the payment tokens.

This does not automatically mean tax is payable. It means the investor must calculate whether the disposal produced a gain or loss.

If an investor acquires Bitcoins for A$8,000 and subsequently exchanges them for Ethereum with a value of A$10,500, there will be an A$2,500 capital gain prior to any applicable deductions. Ethereum is a new asset with its own cost base and acquisition date.

A cryptocurrency exchange is a disposal and an acquisition of a new asset in the eyes of the ATO. There is no CGT event when buying crypto assets using Australian dollars and holding them. Transferring crypto assets from one wallet to another under the same beneficial ownership is not a disposal.

Capital gains may be exempt if crypto qualifies as a personal-use asset and was acquired for less than A$10,000. However, the ATO states that investment crypto generally does not qualify as a personal-use asset.

How Capital Gains Tax Is Calculated

Once a disposal is identified, the investor compares the capital proceeds with the cost base. The cost base includes the purchase price and eligible expenses such as exchange commissions.

An investor buys Ethereum for A$4,000 and pays a A$40 fee. If the investor later sells it for A$6,500 with A$20 of eligible selling costs, the gain is A$2,440.

Investors then combine their gains and losses for the year. Capital losses are applied before any CGT discount. An A$4,000 gain reduced by an A$1,000 loss leaves A$3,000. If the investor qualifies for the 50% discount after holding the asset for at least 12 months, the net gain falls to A$1,500.

Capital losses can offset eligible capital gains, but not salary, staking rewards, or other ordinary income. Unused losses can be carried forward. The ATO provides the order in its crypto CGT guidance.

How Staking Rewards Are Taxed

Staking works differently because the investor earns new tokens. Their Australian-dollar market value is ordinary income when received, even if they stay in a wallet. That value also becomes the tokens’ cost base.

Suppose an investor receives rewards worth A$500 and later sells them for A$700. The first A$500 is ordinary income, while the sale creates an A$200 capital gain before fees. A sale for A$350 would instead create a A$150 capital loss.

The loss cannot cancel the earlier income because it only offsets capital gains. Reward tokens begin a new holding period when received.

How DeFi Transactions Are Treated

DeFi can combine income, asset exchanges, and new legal rights in one transaction. A protocol’s name does not decide the tax result. The key questions are whether the investor gave up an asset, received a different token or right, or earned a reward.

Consider a liquidity pool. Depositing crypto can trigger a CGT event if the investor receives LP tokens representing a new CGT asset or legal right. Returning those LP tokens to withdraw crypto can trigger another CGT event.

Wrapping ETH into WETH can trigger a CGT event. The treatment of lending, bridging and liquid staking depends on whether beneficial ownership remains unchanged or the original asset is exchanged for a receipt token or another right.

Interest, yield, and incentive tokens can also be ordinary income when received. Selling them later creates a separate capital gain or loss. The ATO provides examples covering DeFi lending, liquidity arrangements, and wrapped tokens.

ATO Tracking and Record Keeping

The ATO’s>Crypto investors should keep complete records of wallet transactions, overseas trades, cost bases and DeFi activities.

Records should show the date, token quantity, transaction type, Australian-dollar value, and fees. Investors should also retain exchange receipts, wallet addresses, account statements, and transaction IDs.

Crypto Tax Filing Deadlines and Reporting Rules

In myTax, disposals go in the “Capital gains or losses” section. Staking rewards and similar non-business receipts go under “Other income.” A reward reported as income still requires a later gain or loss calculation when sold.

For most self-lodgers, the deadline is Monday, November 2, 2026, because October 31 falls on a Saturday. Tax-agent deadlines can differ.

The new 30% minimum CGT rate does not affect the 2025–26 return. It applies to affected real capital gains accruing from July 1, 2027, alongside cost-base indexation. It is not a flat tax on every crypto gain

Tax rules apply to crypto transactions even when no cash enters a bank account. Selling, swapping, spending, or gifting investment crypto triggers a CGT event. Staking and certain DeFi rewards count as ordinary income when received.

Disposing of those rewards later triggers a separate CGT event. The calculation determines whether the disposal produces a capital gain, a capital loss, or neither.

Relevant transaction values and taxable amounts must be recorded in Australian dollars. Investors uncertain about ownership changes or DeFi arrangements should consult an Australian tax professional.

Related: US Crypto Exchange Licensing Explained From FinCEN to State Rules

US President Donald Trump has stood out in recent headlines for his support of Bitcoin and cryptocurrencies. In fact, Trump and his wife have altcoins bearing their own names, and his family also has cryptocurrency projects.

While some anti-crypto US Democratic senators have opposed this, most recently Democratic senators Elizabeth Warren and Richard Blumenthal sent a formal letter to the SEC regarding Donald Trump’s Solana-based memecoin, Official Trump ($TRUMP).

According to CNN, senators have written a letter requesting an investigation into Trump’s altcoin for potential market manipulation and practices that could harm investors.

According to the report, Warren and Blumenthal stated in the letter that it should be investigated whether Trump poses a risk of “rug pull,” citing the irreversible losses suffered by millions of investors.

No Rug-Pull Symptoms!

As the Trump controversy continues, blockchain analytics firm TRM Labs stated that there is no definitive evidence that the Trump token was designed specifically for rug-pulling purposes.

However, TRM Labs emphasized that the concentration of a significant portion of the token supply among insiders or linked addresses is a risk factor that needs to be closely monitored.

TRM Labs stated in its assessment that while early investors and the issuer of the $TRUMP token made significant gains, numerous individual investors who bought later faced substantial losses.

At this point, the company noted that a structure in which approximately 1 million retail investors suffered losses, even if not technically classified as a rug pull, could become more controversial over time.

*This is not investment advice.

The Layer-1 blockchain network Aptos has announced the rollout of its new privacy solution, “Confidential $APT,” on its mainnet, which allows users to selectively keep their transaction data private.

In a statement released on its social media platform X, the company said the new feature is optional and was specifically developed for corporate and regulatory compliance use cases.

According to Aptos, Confidential $APT allows users to choose which information in their transactions is public and which remains private. This ensures the transparency of the blockchain while also allowing for the confidentiality of transaction details when needed.

The company stated that the new feature is specifically intended for use in sensitive financial processes such as payrolls, corporate finance transactions, and business-to-business (B2B) payments. While privacy is paramount in the traditional financial world, the fact that all transaction data is publicly visible on open blockchains has been considered a significant obstacle for many organizations. With this solution, Aptos aims to offer an alternative to this problem.

Recently, there has been a growing interest in privacy-focused technologies within the blockchain sector. Corporate companies and financial institutions, in particular, are showing increased interest in networks that develop infrastructure capable of protecting trade secrets while complying with regulatory requirements. Aptos aims to enhance its competitive edge in this area with its Confidential $APT.

The company emphasized that the feature is entirely optional, stating that users can continue to conduct their transactions within the existing transparent structure if they wish. This provides a flexible usage model tailored to the diverse needs of both individual users and corporate clients.

Industry experts believe that solutions that strike a balance between privacy and regulatory compliance can accelerate the enterprise adoption of blockchain technology. These features are particularly critical for businesses to be able to utilize blockchain infrastructure in sensitive processes such as payroll payments, internal financial transactions, and commercial payments.

*This is not investment advice.

Gelephu Mindfulness City (GMC), a special administrative region in southern Bhutan, awarded 3iQ Corp. a mandate to manage part of its bitcoin $BTC$63,607.21 treasury, the firms said in an email.

GMC declined to disclose the size of the mandate to CoinDesk.

How the money will be run is the new information. GMC told CoinDesk it selected the Toronto-based company to generate long-term returns through a low-risk, market-neutral investment approach, meaning the reserve is to be deployed for yield rather than simply held.

A market-neutral strategy covers a range of possibilities, including basis trades and lending. Such strategies usually yield at least 5% annually in the general market. GMC did not say whether any specific approach has been selected.

In December, when Bhutan’s king, Jigme Khesar Namgyel Wangchuck, pledged up to 10,000 $BTC, then worth about $1 billion, the allocation was called a long-term national asset for the city’s development, with collateralization, treasury strategies or holding all listed as options still under consideration.

The mandate’s size matters because the pledge behind it has been in question for months.

This reputation is not without foundation. Cramer’s prediction history is marked by notable flip flops and high profile misses.

In December 2017, right as bitcoin was climbing toward its first run at $20,000, he called it “monopoly money” and said buying it was pure gambling and not investing. In September 2020, he supposedly bought the cryptocurrency around $10,000 after a podcast conversation with investor Anthony Pompliano, and later added more that year.

The reversals kept coming. In June 2021, he sold most of his bitcoin holdings, citing China’s crackdown on crypto mining. Prices went on to hit lifetime highs near $70,000 by November 2021.

In January 2024, he warned of a “nasty” bitcoin selloff following the debut of spot bitcoin ETFs in the U.S. While prices did drop slightly to $40,000, the decline was anything but nasty and by March, prices had rallied to $70,000.

Cramer changed his view in January 2025, calling bitcoin “a great thing to have in portfolio” and urging investors to own the token themselves instead of seeking an indirect exposure through bitcoin-holding firm Strategy (MSTR).

Last month, he swung bearish, calling bitcoin and gold “bad money” that’s being liquidated in favor of high-growth names like SpaceX, Apple and Nvidia. Now, in August 2026, he’s planning a full exit.