Uk Jin

Bonanza Factory, VerifyVASP Sign Digital-Asset Compliance Infrastructure Partnership for Financial Institutions

Bonanza Factory, a digital-asset compliance company, said Aug. 3 that it had signed a partnership with global travel rule solutions provider VerifyVASP to build digital-asset compliance infrastructure for South Korean financial institutions. The agre

Analysis: Bitcoin Weakens More Than Usual as Dollar Strength Persists

Bitcoin has been underperforming more than in past periods of dollar strength since May, according to an analysis by Glassnode. Glassnode wrote on X on August 1 that the dollar has continued to strengthen since May, while Bitcoin has posted one of it

Solana Foundation CISO Says AI-Driven Scams Are Emerging as a New Industry Threat

Advances in artificial intelligence are driving a rise in sophisticated phishing and identity fraud, creating a new threat to the industry that depends on deceiving people rather than exploiting technical vulnerabilities. Solana Foundation Chief Info

Coldcard Fallout Deepens After Security Flaw as Bitcoin Custody Shift Looms

The fallout from a Coldcard security flaw that caused major Bitcoin losses is continuing. Large amounts of Bitcoin are flowing to centralized exchanges, while the incident is also fueling expectations for increased demand for institutional custody. J

Bitcoin 11,163 Moved to Exchanges After Coldcard Seed Flaw Was Disclosed

Large amounts of Bitcoin flowed into centralized exchanges shortly after a seed-generation flaw in the Coldcard hardware wallet was disclosed. Sani, founder of Timechainindex, wrote on X on August 1 that 11,163 Bitcoin had been transferred to central

Bitcoin Enters Bottoming Phase, With Further Declines Possible in 1 to 3 Months

Bitcoin has entered a bottoming phase and may face further declines over the next one to three months, digital-asset analyst PlanB wrote. In a post on X, formerly Twitter, on August 1, PlanB said Bitcoin appears to have begun the process of forming a

US Digital-Asset Backers Urge Senate to Pass Clarity Act, Cite More Than 1 Million Messages

US supporters of digital assets are rallying behind the Clarity Act as the bill's prospects in the Senate remain unclear. Stand With Crypto, a US digital-asset advocacy group, wrote on X on August 1 that supporters have sent more than 1 million messa

BNB Chain Says Former Employee Misused Official Test Wallet for Asteroid Meme Coin, Plans Legal Action

BNB Chain said a former employee improperly used an official test wallet and was involved in issuing a new meme coin. In a post on X on August 1, BNB Chain said its investigation found that the former employee used an official test wallet created dur

Bitcoin Gains 7.5% in July, but August Seen Stuck in a Range

Bitcoin rose about 7% in July, but analysts say it will need a clear catalyst to extend those gains in August. CoinDesk reported on August 1 that Bitcoin fell about 3% on the day, yet still posted a 7.5% gain for the month. Despite a string of headwi

Binance Founder CZ Says Hardware Wallets Can Also Have Bugs, No Method Is 100% Safe

Binance founder Changpeng Zhao urged investors to remain cautious following a recent cold-wallet hack, saying hardware wallets are also vulnerable to security flaws. Writing on X, formerly known as Twitter, on Aug. 1, Zhao said hardware wallets can c

Russia Expands Crypto Mining Ban to Moscow Through 2032

Russia is expanding the areas where cryptocurrency mining is banned, with Moscow now included among the restricted regions. Cointelegraph reported on August 1 that the Russian government added Moscow, Moscow Oblast and parts of Kursk Oblast to the li

DeFi Kingdoms to Shut Down DFK Chain, Move to Avalanche C-Chain

Blockchain gaming project DeFi Kingdoms will shut down its proprietary mainnet, DFK Chain, and move to Avalanche's C-Chain. DeFi Kingdoms wrote on X, formerly Twitter, on Aug. 1 that it will officially end DFK Chain operations on Aug. 28. The project

North Korean Hackers Use Fake macOS Updates to Target Crypto Wallets

North Korean hackers attempted to steal digital-asset wallets by distributing malware to Apple computer users. Weekly Chosun reported on August 1 that US cybersecurity firm AllSecure said North Korean hackers lured users to booby-trapped web pages, t

Coldcard Seed-Flaw Hack Drains 1,082 Bitcoin From 1,196 Cold Wallets

A rare hack has struck cold wallets designed to remain offline. CoinDesk reported on August 1 that Galaxy Research wrote in a post on X, formerly Twitter, that 1,082 Bitcoin were stolen from 1,196 Coldcard wallets over about 40 minutes on July 30. Ga

XRP Ledger to Upgrade Next Week, Reintroducing Features Pulled Over Security Flaws

XRP Ledger plans to reintroduce some features whose rollout was halted over security flaws through an upgrade scheduled for next week. CoinDesk reported on August 1 that Jaazi Cooper, RippleX's head of product, said the upcoming XRPLD 3.3.0 release w

Lummis Says Democrats Are Avoiding CLARITY Act to Pressure Trump Ahead of Midterms

Sen. Cynthia Lummis said Democrats are using negotiations over the CLARITY Act to increase political pressure on President Donald Trump. In a post on X on July 31, the Wyoming Republican said the bill being discussed includes a provision requiring pu

Hong Kong Warns on Fun Coffee After Losses Top HK$1 Billion

Hong Kong financial authorities have warned investors against Fun Coffee, a project accused of raising funds by luring investors with promises of high returns. Cryptopolitan reported on July 31 that Hong Kong’s Securities and Futures Commission desig

Bitcoin Falls Below $63,000

Reuters: Dubai Exchange Shellbit Served as Hub for Iran Sanctions Evasion

Dubai-based digital-asset exchange Shellbit is suspected of serving as a key financial conduit in a large Iranian sanctions-evasion network. Reuters reported on July 31 that Shellbit has handled at least $4 billion in digital assets since May 2024, l

Circle Receives New York Trust Company Charter

Circle said July 31 that it had received approval from the New York State Department of Financial Services to establish the legal basis for operating Circle New York Trust Company. The company said the charter would further strengthen its safety, tra

Glassnode Says Bitcoin Spot Trading Volume Has Fallen to Lowest Since 2019

Bitcoin spot trading volume has dropped to its lowest level since 2019, Glassnode said, as institutional investors favor cash and U.S. Treasuries over digital assets. In a report published on July 31, Glassnode said exchange deposit and withdrawal ac

Texas Weighs Statewide Ban on Bitcoin ATMs After $56.8 Million in Fraud Losses

Texas is considering a statewide ban on Bitcoin ATMs as scams involving the machines continue to proliferate. Decrypt reported on July 31 that the Federal Bureau of Investigation recorded $56.8 million in losses tied to Bitcoin ATM scams in Texas las

Bernstein Keeps $160 Target on Robinhood, Citing Tokenization and Prediction Market Upside

Bernstein maintained its $160 price target on Robinhood Markets Inc., saying the U.S. online brokerage could deliver returns above market expectations, according to a July 31 report cited by The Block. Analyst Gautam Chhugani wrote that Robinhood’s d

Momentum Jumps 67% Intraday

Digital asset Momentum (MMT) surged in intraday trading. As of 7:20 p.m. on July 31, Momentum was trading at 482.99 won on CoinMarketCap, up 67.28% from a day earlier.

Iran’s Revolutionary Guards Say Ships Can’t Pass Strait of Hormuz Without Approval

Iran’s Islamic Revolutionary Guard Corps said the Strait of Hormuz is under its control and that ships cannot pass without Iran’s approval. Fars News Agency reported on July 31 that the Revolutionary Guards said the strait is currently closed and tha

State Street Sees BOJ Rate Hike Possible in September or October

The Bank of Japan could raise its benchmark interest rate in September or October, earlier than markets expect, State Street Global Advisors said. Bloomingbit reported on July 31 that State Street strategist Masahiko Loo sees the BOJ's next rate incr

Tokenized RWA Products Surpass Bitcoin Trading Volume on Major Exchanges

Tokenized products tied to real-world assets are attracting more trading activity than Bitcoin on digital-asset exchanges, Cointelegraph reported. Market analytics firm Talos said in a report cited by Cointelegraph on July 31 that trading volume in R

Analysis: Bitcoin Has Historically Weakened in August

Bitcoin has historically weakened in August, digital-asset analyst Ali Martinez said. Martinez wrote on X on July 31 that Bitcoin’s average return in August is -10%, adding that the month has not been particularly favorable for the cryptocurrency. Da

Coinbase Adds 819 Bitcoin in Second Quarter

Coinbase, the largest digital-asset exchange in the US, increased its Bitcoin holdings. The company bought 819 additional Bitcoin in the second quarter, BitcoinTreasuries.NET data showed on July 31. That raised Coinbase’s total Bitcoin holdings to 17

New York Sues Kalshi Over Alleged Illegal Gambling

Prediction-market platform Kalshi is facing a sweeping lawsuit from New York state. The Block reported on July 31 that New York Attorney General Letitia James accused Kalshi of offering illegal gambling services by operating prediction markets tied t