Author: John Smith

Triple-A’s hot wallets appear to have lost more than $9.7 million across several blockchains, with the suspected attacker swapping the assets and consolidating the proceeds on Ethereum. Summary More than $9.7 million was reportedly removed from Triple-A-controlled hot wallets. Suspicious outflows affected at least four networks, including Ethereum, Solana, TRON and TON. The suspected attacker consolidated the proceeds into approximately 5,226.66 ETH on Ethereum. Triple-A has not confirmed the breach or disclosed whether customer funds were affected. What happened to Triple-A’s hot wallets On-chain analyst Specter first identified suspicious transactions involving hot wallets linked to Triple-A, a Singapore-based provider of…

Chinese courts have sentenced five Sifang payment platform operators to between three and six years in prison over a gambling network that processed more than 2.95 billion yuan, or about $428 million, through USDT, bank cards and third-party payment accounts. Summary Chinese courts sentenced five Sifang operators to between three and six years. The network processed about $428 million through USDT, bank cards and payment accounts. Investigators used Tether wallet data and OKX records to trace crypto transactions. The Paper reported that the Intermediate People’s Court of Xilin Gol League in Inner Mongolia upheld Ma’s conviction for illegal business operations…

Nvidia, Meta and Microsoft have joined 22 other organizations in warning U.S. policymakers that sweeping controls on open-weight AI models could weaken American leadership as competition with China intensifies. Summary Nvidia, Meta and Microsoft oppose sweeping U.S. restrictions on open-weight AI models. The coalition favors targeted enforcement against intellectual-property theft and other proven misuse. Elon Musk backed the letter as concerns over Chinese AI competition increased. The open letter has called for targeted legal and commercial measures to address misuse instead of restrictions covering technologies that support legitimate AI development. Its signatories include IBM, Palantir, Mistral, Hugging Face, Mozilla, Andreessen…

Strategy’s STRC preferred stock has become the largest holding in three major U.S. preferred stock ETFs, which collectively own $756 million of the security even as its price remains about 13% below its $100 par value. Summary STRC has become the largest holding in three major preferred stock ETFs with $756 million invested. Institutional holdings have risen 105% as retail ownership fell from 78% to 71%. Strategy plans to issue more STRC and buy Bitcoin once the stock returns to $100. Michael Saylor, Strategy’s co-founder and executive chairman, disclosed that STRC now leads the portfolios of BlackRock’s iShares Preferred and…

The US House of Representatives has passed a congressional stock-trading ban by a 232-198 vote, sending the measure to the Senate despite criticism that it leaves existing holdings untouched. Summary The House passed the Stop Insider Trading Act in a 232-198 vote. Elizabeth Warren criticized loopholes allowing lawmakers to retain and sell existing stocks. Bryan Steil has proposed similar restrictions for congressional prediction-market wagers. According to a statement from Representative Bryan Steil’s office, the House approved the Stop Insider Trading Act on Wednesday, July 22. The Wisconsin Republican introduced the legislation in January and urged senators to send it to…

Strive’s SATA preferred shares have recovered nearly 16% from their June low to about $97, prompting Jan3 CEO Samson Mow to predict that the rebound could help Strategy’s STRC return to its $100 par value. Summary Strive’s SATA has rebounded nearly 16% from its June low to about $97. Samson Mow expects SATA’s recovery to help Strategy’s STRC return toward its $100 par value. Three major U.S. preferred stock ETFs collectively hold $756 million worth of STRC. Yahoo Finance data show SATA has climbed from $83.30 and now trades within roughly 3% of the level it was designed to track.…

Robinhood Chain token launch platform Memecoin.Fun has raised $3.5 million in strategic funding as the network’s decentralized exchanges approach $9 billion in cumulative trading volume. Summary Memecoin.Fun raised $3.5 million in strategic financing led by Becker Ventures. Funding will support launchpad infrastructure, cross-chain bridges, and a multichain memecoin platform. Robinhood Chain’s growing activity is increasing competition among token issuance platforms. According to an official announcement from Memecoin.Fun, Becker Ventures led the financing, while BitValue Capital, Mason Labs, Negentropy Capital, and angel investor Billy Wen also participated. The platform completed the transaction through the USDG token, although the announcement did not…

Coinbase has replaced or reassigned four senior leaders after cutting 14% of its workforce, as the exchange builds a platform spanning crypto, stocks, derivatives and prediction markets. Summary Coinbase is replacing or reassigning four senior leaders during its multi-asset expansion. Dominique Baillet is expected to succeed Lawrence Brock as chief people officer. Stocks and prediction markets are growing as weak crypto conditions pressure COIN. A Coinbase regulatory filing states that Chief People Officer Lawrence Brock will leave his position on Aug. 17 and remain with the company through Sept. 1 to transfer his duties. Coinbase expects to appoint Dominique Baillet…

A US police union representing more than 382,000 members has reversed its position and endorsed the latest CLARITY Act after lawmakers added language addressing its concerns about cryptocurrency investigations. Summary The National Fraternal Order of Police has reversed course and endorsed the latest CLARITY Act. The union says revised provisions preserve law enforcement powers to investigate crimes involving digital assets. Senate delays and election-year disputes have pushed Polymarket’s 2026 passage odds down to 33%. According to former Fox Business reporter Eleanor Terrett, the National Fraternal Order of Police now supports the bill after reviewing provisions tied to the Blockchain Regulatory…

Thailand’s Securities and Exchange Commission has filed a criminal complaint against crypto exchange Bitkub Online and two of its former directors, alleging they submitted false regulatory reports after a 2021 cyberattack that resulted in the loss of digital assets worth about 1.7 billion baht ($50 million). Summary Thailand’s SEC has filed a criminal complaint against Bitkub and two former directors over alleged false reporting linked to its 2021 cyberattack. Bitkub said it delayed disclosing the hack to prevent a bank run and later replaced all stolen digital assets without customer losses. The case comes as Thailand continues expanding crypto regulations…