Bitcoin

Bitcoin Magazine BIP-110 Fork Stalls at Two Blocks as Bitcoin Miners Refuse to Follow The Bitcoin Improvement Proposal (BIP)-110 appeared to stall at the weekend, when the nodes that support the proposal broke away from the main network and produced the chain split people had been warning about — a tiny, stalled one. The split came Saturday at block 961,632, when the proposal entered its mandatory signaling window. Nodes running BIP-110 software began rejecting any block that failed to signal support through version bit 4. When the first block at that height arrived without the signal, those nodes rejected it and peeled away onto a separate chain. And it has gone almost nowhere since. A pseudonymous mining group called Roughnecks produced both BIP-110 blocks — heights 961,632 and 961,633 — using Ocean’s DATUM protocol, then stopped. By Sunday afternoon the enforcing branch remained stuck at 961,633 while Bitcoin’s dominant chain had advanced to 961,744, a gap of 111 blocks and roughly 17 hours without a new block on the fork. The support was never there. Only 51 of the 2,016 blocks in the preceding difficulty period signaled for the proposal, about 2.53%, against the 55% threshold needed for voluntary lock-in. Since the mandatory window opened, none of the first 113 blocks on the dominant chain have signaled. Bitcoin’s difficulty adjustment compounds the problem. The fork inherited the main chain’s difficulty but commands a negligible share of hashpower, and cannot make mining easier until it completes a full 2,016-block period. Estimates of how long that would take range from under a year to decades, depending on the hashrate assumed. BIP-110, formally the Reduced Data Temporary Softfork, would have capped arbitrary data in transactions for roughly a year, targeting Ordinals inscriptions and oversized OP_RETURN payloads. Michael Saylor and Blockstream’s Adam Back both opposed it publicly, objecting less to the goal than to an activation method they argued invited exactly this outcome. Saylor wrote Sunday that Bitcoin had worked as designed, putting 99.85% of hashpower on the main chain. Mining company Ocean, whose team supported the proposal, informed clients that some miners using Ocean’s Stratum templates may have believed they were mining on Bitcoin while their hashrate was directed to the new BIP-110 chain. The company said it would reimburse miners affected with rewards they would have earned on the non-BIP-110 chain during that window. This post BIP-110 Fork Stalls at Two Blocks as Bitcoin Miners Refuse to Follow first appeared on Bitcoin Magazine and is written by Mathew Di Salvo. Переглянути повний текст

Bitcoin Magazine Trump Media Pulls Back From Crypto Deals: Report The President Donald Trump-backed media company, Trump Media and Technology Group, is pulling back from two of its crypto deals, according to a report by Axios. The publication reported Friday that the two deals with Crypto.com — a prediction market and treasury — would not go ahead. Citing comments from fusion energy company TAE’s interim CEO, Kevin McGurn, the publication said that Trump Media had pulled the deals as the market for digital asset treasury companies had become saturated over the past year. Trump Media last year said it was working with crypto exchange Crypto.com to build a Cronos treasury with $6.4 billion in backing. Cronos is the native coin of Crypto.com’s platform. It later in 2025 said it was working with Crypto.com on Truth Predict, a betting platform to allow users to put money on sports games, elections and other events. Digital asset treasuries exploded in popularity last year, with companies following in the footsteps of Nasdaq-listed software company Strategy to build balance sheets with Bitcoin and other cryptocurrencies. But a slump in prices since October has hurt the stock of a number of companies who adopted the business idea. McGurn was quoted saying that the decision to scale back was driven more by “competitive dynamics” rather than regulatory concerns surrounding a crypto company backed by the president. President Trump campaigned on a ticket to help the crypto space and received backing from major players in the space. The president since taking office has launched a meme coin and he and his family backed a crypto project, World Liberty Financial. Axios added that the exchange-traded funds debuted last year by Trump Media, special purpose acquisition company Yorkville Acquisition Corp., and Crypto.com would continue. This post Trump Media Pulls Back From Crypto Deals: Report first appeared on Bitcoin Magazine and is written by Mathew Di Salvo. Переглянути повний текст

Bitcoin Magazine Senators Cynthia Lummis and Angela Alsobrooks Say Bipartisan Work on Clarity Act Continues Despite Delays The Clarity Act may be delayed — for now — but pro-crypto senators remain committed to the fight. And not just Republicans: Democratic Senator Angela Alsobrooks accompanied conservative “Bitcoin Senator” Cynthia Lummis in assuring voters that work was being done on the bill. Lawmakers were hoping a crucial vote on the long-awaited crypto market structure bill was to go ahead before a five-week recess but news dropped Friday that it was too little, too late. Now, the Senate will vote on the bill in September. JUST IN: Senator Lummis releases statement now Clarity Act vote is delayed: "There will be a time where I can say more, but for now, let me say this, we've come too far to quit" "I will continue working with my colleagues to get this done — this fight is far from over" pic.twitter.com/ZLzc3pImrw — Bitcoin Magazine (@BitcoinMagazine) August 7, 2026 “We’ve worked for over a year on a bipartisan basis to protect consumers, limit deposit flight, fight illicit finance, and include a fair deal on ethics,” Alsobrooks said in a statement. Lummis, who had previously blasted Democrats for holding back the bill, added: “There will be a time where I can say more, but for now, let me say this, we’ve come too far to quit. I will continue working with my colleagues to get this done — this fight is far from over.” Passed last year in the House of Representatives, the Clarity Act started small but its text has grown over the months. This is partly because of banking lobby chiefs locking horns with crypto exchanges over concerns they pay customers too much yield with their stablecoin products. But Democrats also have wanted more work on the ethics side of the bill. A bill banning government officials from promoting and making money was circulating among lawmakers in July though some lawmakers said it still fell short. JUST IN: Senator Angela Alsobrooks on the Clarity Act vote getting delayed: "We’ve worked for over a year on a bipartisan basis…We will continue our work — getting the Clarity Act right remains our goal." pic.twitter.com/3Hsn0282FU — Bitcoin Magazine (@BitcoinMagazine) August 7, 2026 Lummis last week said she was genuinely “struggling to understand” what else Democrats wanted for the bill. Some suggested they may have been playing politics ahead of the midterms. A number of Democrats have criticized the way the Trump family has profited from digital asset ventures, such as the President’s memecoin, $TRUMP, and World Liberty Financial project. Trump and the White House have always denied any conflicts of interest, and the President has also highlighted that Democrats have cashed in trading stocks. This post Senators Cynthia Lummis and Angela Alsobrooks Say Bipartisan Work on Clarity Act Continues Despite Delays first appeared on Bitcoin Magazine and is written by Mathew Di Salvo. Переглянути повний текст

Bitcoin Magazine Coldcard Bitcoin Hack: Victims Report Median Loss of 1 BTC as Theft Tops $111 Million New analysis of Bitcoin theft reports reveals that stolen funds overwhelmingly came from long-dormant wallets, with victims reporting a median loss of over one coin. Data posted on X from Galaxy Research’s Alex Thorn looked at 250 victim reports and found the typical stolen coin had sat untouched for 3.5 years, and a striking 88% of pilfered funds were at least a year old. By address, losses ranged from a median of 0.014 Bitcoin to a mean of 0.212 Bitcoin, while individual victims reported a median loss of 1.022 Bitcoin and an average of 4.04 Bitcoin — with one unlucky holder losing as much as 58.97 coins. Hackers started by taking over $35 million in Bitcoin from wallets last week Thursday. Coinkite, which makes Coldcard, said that a firmware bug in Coldcard Mk3 devices — starting with version 4.0.1 in March 2021 — caused seed generation to fall back to a weak software Pseudorandom Number Generator instead of the hardware true random number generator, allowing hackers to essentially guess investor seedphrases. The theft continued throughout the weekend while Coinkite and other Bitcoiners urged Coldcard users to immediately move their funds. Galaxy Research said Friday that a total of $111 million has been confirmed stolen but the number could be much higher as it continues its research. “We have many more coins we are vetting for confirmation — we think total losses likely exceed $130 million,” the firm wrote on X. Since the attack, cautious investors have been moving their coins to other storage solutions — including exchanges. Coinkite said in a statement this week that the bug in its software “silently went unnoticed” and “its potential impact grew with every release” of its products. Days after the first hack, the company urged investors to update their software or move their funds off the popular hardware wallet. This post Coldcard Bitcoin Hack: Victims Report Median Loss of 1 BTC as Theft Tops $111 Million first appeared on Bitcoin Magazine and is written by Mathew Di Salvo. Переглянути повний текст

Bitcoin Magazine Bitcoin Shrugs off Coldcard Hack and Clarity Act Delays, Price Chops Higher as Investors Buy ETFs Bitcoin was trading higher on Friday — despite negative news circulating regarding the Clarity Act delay and a massive exploit of the popular Coldcard wallets. The biggest cryptocurrency was trading above $65,170 today, up nearly 4% over the past week, despite significant headwinds against the asset. JUST IN: $65,177 Bitcoin! pic.twitter.com/ZZzVloKXjM — Bitcoin Magazine (@BitcoinMagazine) August 7, 2026 Little over a week ago, hackers started stealing millions in Bitcoin from Coldcard wallets after discovering a vulnerability in the product’s software. Some estimates put the amount of Bitcoin lost now at over $130 million. The incident has rattled the BTC community that typically praises cold storage solutions. And news dropped late Thursday night that the crypto market structure bill would be delayed until September as lawmakers break for recess. The bill, if approved, would set in stone digital asset regulation in the U.S. and would be bullish for the biggest cryptocurrency. Still, Bitcoin made gains as investors carried on buying shares of the exchange-traded funds: BlackRock’s iShares Bitcoin Trust, and Morgan Stanley’s fund have both seen significant inflows this week, according to data from Farside Investors. Bitcoin’s price has typically done well when investors have thrown cash at the products, managed by Fidelity, Grayscale, and other top asset managers. Since the beginning of this week, $763.6 million in fresh cash has hit the funds. Bloomberg Intelligence’s senior ETF analyst, Eric Balchunas, said the flows might not be related to the Coldcard hack, but it would make sense for investors to rotate into the highly successful products. A firmware flaw in the popular Coldcard hardware wallets, built by Canadian company Coinkite, has allowed an attacker to guess weak private keys. Millions of dollars in Bitcoin has been drained on a daily basis since the attack, and cautious investors have been moving their coins to other storage solutions — including exchanges. This post Bitcoin Shrugs off Coldcard Hack and Clarity Act Delays, Price Chops Higher as Investors Buy ETFs first appeared on Bitcoin Magazine and is written by Mathew Di Salvo. Переглянути повний текст

Bitcoin Magazine Bitcoin ETFs Add Nearly $800 Million in the Wake of Coldcard Exploit One of the biggest Bitcoin security stories of the year unfolded last week as a firmware exploit affecting certain Coldcard hardware wallets renewed industry debate around self-custody and operational security. At the same time, another story was developing in the background. Over the same seven trading days, U.S. spot Bitcoin ETFs attracted $790.6 million in net inflows, according to the Bitcoin For Corporations ETF Dashboard. More than $1.0 billion entered the funds while $212.7 million exited, resulting in one of the strongest weekly periods in recent months. The two developments are not necessarily related. ETF flow data cannot tell us why investors bought Bitcoin. What it does tell us is what they actually did. And during a week dominated by security headlines, institutional capital continued flowing into regulated Bitcoin investment products. One Red Day Didn’t Change the Trend The seven-day flow chart tells a simple story. There was one notable setback. On July 31, U.S. spot Bitcoin ETFs recorded $212.7 million in net outflows, the only negative session during the period. After that, buyers returned almost immediately. The next four trading sessions posted consecutive gains: Aug. 3: +$170.1M Aug. 4: +$207.8M Aug. 5: +$241.6M Aug. 6: +$99.4M By the end of the week, the positive days had more than offset the lone selloff. Instead of focusing on individual trading sessions, the seven-day view shows where capital ultimately moved—and during this period, it moved into Bitcoin. BlackRock Continued to Lead the Way As has been the case for much of the ETF era, BlackRock’s IBIT accounted for the majority of inflows. Over the seven-day period: IBIT attracted $757.5 million in rolling net inflows. It extended its streak to four consecutive inflow days. On the latest trading day alone, it added $128.3 million. Other issuers also participated. Fidelity’s FBTC added $11.2 million on the latest session, while Bitwise’s BITB added $1.7 million. A handful of funds experienced modest outflows, but none came close to offsetting IBIT’s continued strength. The result was a week where inflows remained broad enough to keep total ETF demand firmly positive. What ETF Flows Can and Can’t Tell Us ETF flows are one of the clearest windows into institutional participation in Bitcoin. They show where money moved. They do not explain investor motivation. It’s impossible to conclude from one week’s data whether buyers viewed the Coldcard exploit as insignificant, saw it as an opportunity to buy, or simply continued executing long-term allocation strategies that were already in motion. What can be observed is that institutional demand remained resilient during a week when Bitcoin security dominated industry headlines. A security incident involving one custody solution is different from the broader investment case for Bitcoin, and ETF investors appeared comfortable continuing to allocate capital through regulated products. Why This Matters Bitcoin is no longer accessed through a single path. Some investors choose self-custody. Others hold Bitcoin through public companies. Many institutions access Bitcoin through regulated ETFs. Each approach comes with its own tradeoffs, operational considerations, and risk profile. Events like the Coldcard exploit naturally increase attention on custody practices. At the same time, ETF flow data provides a useful lens into whether institutional demand is changing beneath the headlines. This week, the numbers suggest demand remained intact. Follow Institutional Bitcoin Demand in Real Time Daily ETF flows have become one of the most important indicators of institutional participation in Bitcoin. The spot Bitcoin ETF Dashboard tracks: Daily net inflows and outflows Rolling 7-day momentum Issuer-by-issuer rankings Estimated Bitcoin held by U.S. spot ETFs Market share and concentration trends Historical flow data across every issuer Whether you’re monitoring institutional adoption, evaluating market structure, or simply trying to separate headlines from capital flows, the dashboard provides a real-time view of where money is moving. Explore the live Bitcoin ETF Dashboard: https://bitcoinforcorporations.com/bitcoin-etf-dashboard/ As new flow data is published each trading day, the dashboard updates to help investors and corporate decision-makers track one of the market’s clearest signals of institutional Bitcoin demand. Disclaimer: This content was prepared on behalf of Bitcoin For Corporations for informational purposes only. It reflects the author’s own analysis and opinion and should not be relied upon as investment advice. Nothing in this article constitutes an offer, invitation, or solicitation to purchase, sell, or subscribe for any security or financial product. This post Bitcoin ETFs Add Nearly $800 Million in the Wake of Coldcard Exploit first appeared on Bitcoin Magazine and is written by Nick Ward. Переглянути повний текст

Bitcoin Magazine Crucial Vote On Crypto Clarity Act Delayed Until September, Trump Says More People Are Paying in Bitcoin: Reports A vote on the long-awaited Clarity Act will be delayed until September as lawmakers go on recess today. As first reported by POLITICO, citing comments from Majority Leader John Thune, the vote on the landmark bill will now have to wait until lawmakers return from August recess. Bipartisan work has gone into the Clarity Act, which was passed by the House of Representatives last year, but some Republicans have accused Democrats of stalling the bill. BREAKING: President Donald Trump says “I see it more and more where people are paying with Bitcoin, they don’t even know about cash anymore.” “Crypto’s a big deal.” pic.twitter.com/Y7ZFifz6zL — Bitcoin Magazine (@BitcoinMagazine) August 7, 2026 “The Dems insisted on no Clarity vote,” Thune was quoted telling reporters Thursday evening. “We’re getting that queued up first thing [when] we come back in September.” The Clarity Act started small but its text was beefed up over the past year — mainly because of Democrats, according to some lawmakers like Senator Cynthia Lummis. While stuck in a deadlock for a lot of 2026 due to banking lobby chiefs locking horns with crypto exchanges over concerns about stablecoin yield, Democrats also wanted more work on the ethics side of the bill. President Donald Trump campaigned on a ticket to help the crypto space but some Washington lawmakers have criticized the way the Trump family has profited from digital asset ventures, such as the President’s memecoin, $TRUMP, and World Liberty Financial project. Trump and the White House have always denied any conflicts of interest. Speaking in an interview with Punchbowl News Friday about the Clarity Act and ethics, President Trump pointed out the Democrats have also made money from stock trading. “They want a bill, and in the bill they want me to be different to everyone else,” he said. He added that getting the bill over the line was important because the U.S. should take the lead over China when it comes to crypto and AI. He continued: “You see people paying with Bitcoin and they don’t even know about cash anymore.” The latest draft of the Clarity Act contains language — drafted by Democrats and Republicans — banning government officials from promoting or making money from crypto. It started circulating in July. Still, Democrats like Senator Elizabeth Warren, who has from the beginning criticized the Clarity Act, have claimed that new legislation will benefit the president and his family. Major financial institutions — not just crypto companies — have backed the bill, including Goldman Sachs and Fidelity, as well as law enforcement groups. This post Crucial Vote On Crypto Clarity Act Delayed Until September, Trump Says More People Are Paying in Bitcoin: Reports first appeared on Bitcoin Magazine and is written by Mathew Di Salvo. Переглянути повний текст

Bitcoin Magazine Bitcoin’s BIP110 Moment: Three Possible Scenarios Author’s note: In my view BIP110 is both useless and harmful, and I do expect it to fail (see scenario 1). Despite this I tried to write this article as factually as I could, entertaining different possible scenarios, as I do hope it may provide some clarity on this soft fork attempt. The OP_RETURN debate has escalated to the point where Bitcoin Knots implemented BIP110: a consensus protocol change that temporarily limits the size of OP_RETURNs and intends to reduce other types of data on Bitcoin’s blockchain as well. However BIP110 does not have consensus: not everyone agrees there’s a problem that requires solving in the first place, nor that BIP110 solves it in any meaningful manner, while it restricts Bitcoin in potentially harmful ways. Most obviously, Bitcoin Core — still by far the most-used Bitcoin implementation — has not adopted BIP110, while only some 1-2% of hash power has been signaling support for it in recent weeks. Nevertheless, BIP110-nodes like Bitcoin Knots will soon — starting from block 961,632, to be mined on or around August 8 — reject blocks that don’t signal support for the upgrade. Here are the three main scenarios for how that could play out. Scenario 1: (almost) no miners signal If current miner signaling is any indication, this is the scenario to expect. From the perspective of anyone running Bitcoin Core or other non-BIP110 enforcing nodes and wallets (the vast majority of the Bitcoin ecosystem) blocks will be mined as usual, and transactions will be processed like normal too. Anyone who’s not actively tracking these events on social media or elsewhere may not even be aware that anything unusual is going on, and in a practical sense for them there really won’t be; BIP110 does not affect them. The same is not true for anyone running Bitcoin Knots or other BIP110-enforcing nodes, however. Since their software will reject non-signaling blocks, they basically wouldn’t see any new blocks at all (or perhaps a few per week), and incoming and outgoing transactions won’t confirm (or incredibly slow). In practical terms, these nodes would stall and become unusable. If this happens, BIP110 proponents will have to decide between waiting to see if things improve for them (see scenario 3), giving up (switching back to non-BIP110 software), or deploying a next protocol change, like hard forking to a different proof-of-work mining algorithm. Such a hard fork would possibly allow for mining with GPUs again, therefore letting more people mine new blocks to generate a blockchain with the BIP110 rules enforced. However this would also mean that BIP110/hard fork nodes permanently split off from the rest of the Bitcoin ecosystem to essentially create a new cryptocurrency. (More on this below) Scenario 2: (almost) all miners signal This is the scenario several prominent BIP110 proponents predict. In this scenario, when the mandatory signaling window starts, all miners will suddenly signal for BIP110. Or at least, a majority of miners will signal AND reject any non-signaling blocks, so that all blocks that end up in the blockchain include a BIP110 signal. If this happens, all Bitcoin nodes (Knots and Core alike) remain compatible, and the signals in the blocks indicate that miners plan to start enforcing the BIP110 rules another two weeks later. BIP110-violating transactions should by early September no longer end up in blocks. In essence, this is the success scenario for BIP110; although only a small faction of developers, miners and users pushed for it, the upgrade goes into effect across the entire network. …However even in this scenario there is an important caveat. Blockchain signaling is a useful coordination mechanism for soft fork deployment, but it technically does not guarantee that the new rules will be enforced. Miners can signal support for the upgrade without actually using BIP110 software, which they for example could elect to do simply to ensure their blocks aren’t rejected by Bitcoin Knots nodes during the mandatory signaling window. Bitcoin’s protocol rules are ultimately enforced by economic nodes however, and nothing currently indicates that most of these will enforce the BIP110 rules even if all blocks include a signal. So if BIP110-violating transactions are later accepted by most miners regardless, these economic nodes would accept blocks that include them, while BIP110 nodes would not. The blockchain would split between nodes that do and do not enforce BIP110 after all. Scenario 3: a sizable minority of miners signal This is the scenario that would immediately split the chain. Currently some two percent of miners signal support for BIP110, which is probably too little to be meaningful (see scenario 1). But let’s imagine this quickly increases tenfold or so. We also have to imagine that this sizable minority itself rejects any non-signaling blocks— else it would still be indistinguishable from scenario 1 where BIP110 nodes stall (since they require ALL blocks to include a signal). If the sizable minority is both signaling and rejecting non-signaling blocks, they’d start to build their own minority blockchain with only signaling blocks in it. Blocks on this minority chain would confirm significantly slower than usual — maybe just one or two per hour — but BIP110 nodes remain reasonably usable. And after a few months the mining difficulty would adjust, so blocks are found (closer to) six times per hour again. Another couple of weeks later the BIP110 rules would go into effect. Meanwhile, Bitcoin Core and other non-BIP110 enforcing nodes would still operate fairly normally as well. Their blocks will confirm a little bit slower for a while — maybe about four or five per hour — but after a couple weeks mining difficulty adjusts here too, to also bring this back to six per hour on average. The BIP110 rules would never go into effect on this blockchain. As a result, a BIP110 blockchain and a blockchain with the original rules would then exist side by side as two different cryptocurrencies, indefinitely. There is one notable caveat to this scenario as well, however. If the BIP110 chain were to overtake the original chain in length later on (due to miners moving to the BIP110 chain), all nodes — Core and Knots alike — would accept the BIP110 chain as the only chain. The original chain would in this case be discarded, or wiped out. This one-sided wipe out risk is in fact why BIP110 proponents expect all miners to signal preemptively, preventing a split. Miners won’t want to mine on a blockchain that can later be discarded, they argue, as that would also mean losing all block rewards they earned on it. In actuality, users and miners that want to prevent that the original chain can get wiped out could do so however: they can manually invalidate any block on the minority BIP110 chain while it still is the minority chain. This way their nodes would reject switching to it even if it becomes longer at any point in the future, making the split permanent also. So what exactly happens if the chain permanently splits? If and when the Bitcoin blockchain permanently splits, it essentially marks the creation of a new cryptocurrency, or forkcoin. Everyone who owns BTC at the time of the split automatically receives the equivalent amount of coins on the new blockchain, not unlike what happened with Bitcoin and Bitcoin Cash in 2017. However in reality these things aren’t necessarily as straightforward, and if BIP110 does cause a chain split under any of the scenarios above there will likely be some complications. For one, there’ll almost certainly be disagreement over which side of the chain represents “Bitcoin” (“BTC”), and which side is the new forkcoin. It seems likely however that the blockchain with the original rules will by most people be considered “Bitcoin”, whereas the blockchain with the BIP110 rules will be called something else; we’ll call it “BIP110 coin” for now. Accessing the BIP110 coins then, will require BIP110-specific software like, indeed, Bitcoin Knots. The new coins won’t show up on Bitcoin Core nodes or most wallets. However, BIP110 does not currently include replay protection. This means that transactions on one chain can be copied (“replayed”) on the other chain. Instead of just sending BTC, users could unknowingly also send the equivalent BIP110 coin to an identical address on the BIP110 chain— or vice versa. It’s difficult to estimate at this point how much the forkcoins will be worth, or even if they will be worth anything at all. The lack of interest in buying BIP110 coins via fork future contracts does suggest there may not be much interest to buy them after a split either. But if you nevertheless want to be sure you’ll receive BIP110 coins if there are any, it’s probably best to self-custody your BTC (have access to your private keys), and don’t send any transactions until the dust settles and there is more clarity on how to proceed. Aaron van Wirdum is the former Editor-in-Chief of Bitcoin Magazine and author of The Genesis Book: The Story of the People and Projects That Inspired Bitcoin. Follow him on Nostr. This post Bitcoin’s BIP110 Moment: Three Possible Scenarios first appeared on Bitcoin Magazine and is written by Aaron van Wirdum. Переглянути повний текст

Bitcoin Magazine “We Need Clarity,” Says Former New York Governor Andrew Cuomo Ex-governor of New York and Democrat Andrew Cuomo has said lawmakers need to hurry up and get the “highly political” Clarity Act over the line. Cuomo, who is also the director of crypto exchange OKX, said that Democrats and Republicans were mainly locking horns over the ethics language in the bill. A number of lawmakers are hoping the Clarity Act — which would set in stone crypto regulation in the U.S. — gets passed before Congress departs for August recess. The bill was passed by the House of Representatives last year but sticking points remain. “We need clarity,” Cuomo said Thursday on CNBC’s Squawk Box. “Tell me the rules — I want to play the game fairly, but you have to tell me the boundaries, and that’s what the Clarity Act is all about.” JUST IN: Former Governor of New York Andrew Cuomo says he thinks the Senate will resolve the Clarity Act ethics issues and pass the bill "We need Clarity…the world is passing us by" Pass it pic.twitter.com/oW40FdqHFr — Bitcoin Magazine (@BitcoinMagazine) August 6, 2026 Cuomo added that Democrats wanted to “raise in the campaign” the issue of the Trump family making money in crypto — and so were continuing to bring up the issue of ethics. A new draft of the Clarity Act started circulating that tackled the issue of ethics, banning government officials from promoting or making money from crypto. Some Democrats have criticized President Trump’s crypto business interests, with some alleging conflicts of interest as his family has made money from meme coins and the decentralized finance protocol, World Liberty Financial. The White House has always said there have been no conflicts of interest. New language has been drafted, bipartisanly, adding changes to the ethics section of the bill. The White House is reportedly looking over it this week. Cuomo continued: “I think Democrats have to be a little careful because you want to talk about conflicts of interest, meanwhile you have Democrats who are buying stocks and they have inside information also.” He warned: “And again, the world is passing us by. OKX, we’re doing gangbusters in Europe, and they’re passing regulations, and the technology is flourishing.” “When you pass the regulations, and you allow innovation to develop, it takes off, and that’s what’s happening around the world, and it’s not happening here in the U.S. because of the Clarity Act,” he added. This post “We Need Clarity,” Says Former New York Governor Andrew Cuomo first appeared on Bitcoin Magazine and is written by Mathew Di Salvo. Переглянути повний текст

Bitcoin Magazine Breez Announces Glow, an Open Source Bitcoin to Stablecoins Progressive Web App Developed by Breez in partnership with Bitcoin Spark, the Glow app lets users send stablecoins from their Bitcoin balance, while empowering developers to build better user experiences without having to worry about the difficult parts of building on top of Bitcoin. Breez’s SDK takes care of asset exchange in the background while supporting lightning payments through its Spark integration. “Glow is a Bitcoin app for everyone,” said the company in a press release shared with Bitcoin Magazine. Users can access the app on both Apple and Android app stores. Glow re-invents the Bitcoin wallet experience, deviating from the seed phrase backup flow that many wallets attempt to introduce users to. Instead, Glow leverages the Passkey standard engineered and now encouraged by the Silicon Valley giants, which makes passwords and, in this case, pass phrases a thing of the past. Despite the change, Glow promises self-custody and cryptographic control over funds to its users, in an auditable software package. As an MIT-licensed, free and open source progressive web app (PWA), Glow is built so that developers can look under the hood, take it apart, and implement features as they see fit, leveraging the Breez API and SDK. Besides the Passkey login, Glow has full support for native Lightning payments, sending and receiving with customizable Lightning addresses that look like emails, such as BM@breez.tips. First deployed to a Bitcoiner user base, Glow can currently send USDT and USDC across most networks and blockchains through their partnership with Flashnet, drawing value from the user’s Bitcoin balance. Glow comes integrated with a couple of onramps from the start as well. Users can onboard to bitcoin instantly via Cash App and MoonPay which the SDK connects to via their API. Sats arrive in seconds. The app also has contacts integration, letting users save their friends’ lightning addresses as a contact, hiding away ugly public keys and lightning invoices and delivering a more familiar and mainstream payments app experience. Users can also avoid bitcoin’s volatility by swapping their BTC holdings to USD value at will and, according to the press release, they earn sats as they do. Glow’s stablecoin is USDB; the B stands for Bitcoin, a stablecoin issued by Brale Inc which is licensed as an MSB across over 45 states, and claims to be compliant with GENIUS Act standards: “Regulated & fully backed Issued by Brale, a U.S. regulated entity, and 100% backed by T-bills, cash, and cash equivalents”. There appears to be no way to verify Brale’s compliance with the GENIUS Act right now as the regulations are still being implemented and do not take effect until 2027. What is remarkable about USDB is that it is a Bitcoin native stablecoin, deployed through the Spark protocol, which is compatible with the Lightning Network, essentially unlocking the stablecoin across Bitcoin rails. USDB holders earn up to 6% APY delivered from Flashnet DEFI exchange’s profits, according to a Spark announcement earlier this year. Breez believes this combination of partnerships and technologies means that “Bitcoin has finally crossed a threshold.” The UX unlocked by Glow is now fully available to developers as a software development kit, something unimaginable by traditional finance. This post Breez Announces Glow, an Open Source Bitcoin to Stablecoins Progressive Web App first appeared on Bitcoin Magazine and is written by Juan Galt. Переглянути повний текст

Bitcoin Magazine Senate Whip Barrasso Becomes Latest Lawmaker to Support Crypto Clarity Act, But Time May Be Running Out Senate Majority Whip John Barrasso is the latest lawmaker to call for action on the crypto Clarity Act, though recent developments show work on the bill may be slowing. Speaking to the Senate Thursday, Barrasso reminded lawmakers that the U.S. passed the first major digital asset bill last year, the Genius Act, and the same bipartisan work was necessary for the Clarity Act. Lawmakers are rushing to get a vote on the Clarity Act before a five-week recess this week. Some Republicans have criticized Democrats for dragging their feet with the bill and deliberately being pernickety. JUST IN: Senate Majority Whip John Barrasso tells the Senate “its time for the Senate to build on [the GENIUS Act] by passing the Clarity Act.” "America is safer and stronger when we innovate" pic.twitter.com/LPG11vESle — Bitcoin Magazine (@BitcoinMagazine) August 6, 2026 “It’s time for the Senate to build on [the Genius Act] by passing the Clarity Act,” Barrosso said. Bipartisan work has gone into putting the bill together, and on Wednesday, Senator Thom Tillis reportedly said that the White House was reviewing the latest amendments to the bill. But on Thursday, Punchbowl News Senior Reporter Brendan Pendersen posted on X that Tillis had said he hadn’t yet heard back from the White House, despite optimism this week and Senate Majority Leader John Thune previously telling reporters that they were hoping for a vote before the break. Lawmakers have other proposed bills to vote on ahead of their recess and the Clarity Act seems to have been pushed back. The bill, which would set in stone digital asset regulation in the U.S., was passed last year by the House of Representatives. It has since become a much fatter text, according to Senator Cynthia Lummis, thanks to Democrats who wanted more added to the draft. Since July, a new text with changes regarding ethics has been circulating among lawmakers. It banned government officials and their families from issuing or promoting crypto — something Democrats had previously bemoaned. But it hasn’t been enough, according to some lawmakers, and a group of Democrats wrote a letter in July saying the bill fell short. Other than concerns around ethics, the Clarity Act has been in a deadlock this year after the banking lobby raised concerns over stablecoin yield paid by crypto companies to their customers, clashing with companies like Coinbase. Some Republicans are still sure a vote will pass this week, with Senate Banking Committeeman Tim Scott telling Fox Business that the Clarity Act is “something we should have, the first vote before we leave without any question.” Senator Lummis added on Wednesday that a vote would happen — and that lawmakers would stay a day or two extra later. This post Senate Whip Barrasso Becomes Latest Lawmaker to Support Crypto Clarity Act, But Time May Be Running Out first appeared on Bitcoin Magazine and is written by Mathew Di Salvo. Переглянути повний текст

Bitcoin Magazine The End of the Closed-Source Era Is at Hand: Obscurity Was Never Security Over the last few days, people who were trying to do everything right lost their Bitcoin. They bought a respected hardware signer, generated a seed offline using that device, and trusted the device to do the one thing a signer exists to do: produce a number no one else can guess. The Coldcard did not. A preprocessor guard that checked the wrong thing had quietly routed seed generation to a weak software PRNG (pseudorandom number generator), MicroPython’s Yasmarang, instead of the hardware entropy source. On some models the effective entropy collapsed to around 40 bits. The flaw shipped in March 2021 and sat in publicly readable firmware for more than five years. Attackers swept 500 addresses before anyone understood why; within days Galaxy Research’s tally reached 4,585 addresses and nearly $90 million; the attack is ongoing as of the date of this article. Coinkite’s working assumption, with wide agreement on X, is that someone used AI to comb the publicly available firmware to find the bug. Whether or not that’s how this attacker found it, the next one will. While an AI-assisted audit was run weeks before the theft, it found nothing (potentially due to the capabilities of the model, potentially due to the specific construction of the search). Since the attack started, researchers have shown several frontier models locating the same flaw in minutes from a single prompt. The code sat open to human review for five years and no human caught it. Coinkite had moved its firmware from a free-software license to source-available terms, MIT with a Commons Clause, after Foundation Devices used the code in a competing product. You could read the source but not build a business on it. It changed nothing. The bug lived in code a machine could read regardless of what the license permitted; it entered the tree, in fact, in the very rewrite that stripped out the last of the GPL code. The license change didn’t increase protection; it merely changed the economics of finding the bug. In the age of highly skilled AI, everything that is distributed is readable, or soon will be. Strip a binary of its symbols, run it through a decompiler, and out comes the pseudo-C that greets anyone who has opened Ghidra: nameless variables, flattened control flow, functions labeled FUN_00401a20. Unreadable to most people. That high barrier to human understanding was the entire security premium of “closed source.” A compiled program has no choice but to tell the truth. Code that stays encrypted cannot run. At the moment of execution the processor must receive the actual instructions, so whatever the program does, it hands the machine a complete and exact account of how to do it. The information is all there in the machine code. Obfuscation does not, and cannot, remove it. If reading a binary sounds too hard for a machine to master soon, weigh it against what machines are already doing to problems far harder. Reading a binary is analysis: every fact you need is in front of you, and the work is extraction. Mathematical invention is another order of difficulty, because it demands an object no one has ever seen. At 02:19 UTC on July 20th, Levent Alpöge, a mathematician working with Anthropic’s Claude Fable 5, posted a counterexample to Keller’s Jacobian conjecture, a problem open since 1939 and hard enough to sit on Stephen Smale’s list of challenges for the twenty-first century. Generations had tried it. The disproof is three polynomials in three variables. Lean verified it within hours, and it is short enough for anyone to confirm in a computer-algebra system in about a minute. The Jacobian fell in an afternoon, while the questioner was apparently watching the final match of the FIFA World Cup. In May an OpenAI model toppled the Erdős unit-distance conjecture, a question open since 1946; in late July a 30-year-old graph-theory conjecture fell to four prompts; between them came the Jacobian disproof and a run of other results that had stood for decades. Set that pace beside the modest task of reading machine code already sitting out there on the Internet. Today’s models handle source and decompiler output better than raw bytes, so a fully closed binary keeps a thin margin. That margin is a cost speedbump, and it is eroding at the speed you are watching everywhere else. Betting security on how long it lasts means betting against a clock that is only speeding up. The same capability that finds your entropy bug reads your proprietary method. This is the quieter casualty, and it impacts companies that never thought of themselves as exposed to open-source anything. Trade secrecy in shipped software was always just obscurity in a suit. The law has said so for as long as trade-secret law has existed: reverse engineering a product you lawfully possess is fair play, and therefore a secret survives only while that reverse engineering stays expensive. When the cost of extraction falls to a subscription and a prompt, the secret embodied in the code you hand your customers stops being one. Your clever algorithm, your undocumented format, your edge in the binary: legible to anyone who cares to look, on a timeline increasingly measured in minutes. None of this necessarily makes open source safe. Heartbleed hid in the most widely deployed TLS library on earth for two years, because visibility without funded attention finds nothing. The xz backdoor showed that the open contribution model is itself an attack surface, one a patient adversary can walk through with a friendly face and two years of good commits. While openness once was a shield, it is no longer. What it does buy is reviewers who are permitted to look, builds which can be independently reproduced and verified, an exit when a vendor dies or turns, and acknowledgment that this all will happen whether you like it or not. Now we must assume every line shipped will be read by someone who wishes harm, because it will be. The defender holds one structural advantage the attacker never will: time. You can turn the same frontier models on your own code before release, in the space between commit and ship, while the attacker waits for a binary that does not yet exist. Make your builds reproducible, so it ties back to the source and the source can be checked. Design to fail closed, and keep the trusted core small enough that one bug cannot take everything. For the specific business of holding Bitcoin, learn the lesson Coldcard is teaching in real time: own the entropy you cannot afford to have guessed, keep the secure element minimal and behind a published interface, and spread your keys across independent implementations, so that no single device, and no single vendor’s mistake, is the whole of your exposure. For Bitcoin the stakes are unforgiving in a way they are not elsewhere, since mere knowledge of the private keys grants possession. The entropy bug has left permanent scars. Patching the generator does nothing for the seeds it already produced; a weak keyspace stays sweepable forever, and disclosure hands the attacker the recipe. We have watched this before. The Milk Sad vulnerability in the libbitcoin explorer tool, bx, seeded private keys from a 32-bit value, and attackers were draining the wallets it produced before the flaw was ever made public. Attackers keep their own schedule, invited or not. For money that cannot be clawed back, “findable eventually” is a synonym for “gone eventually.” Bitcoin never trusted obscurity. The protocol is open, its rules checkable by anyone, its security resting not on secrets but on mathematics and incentives that hold in full view. The hardware and software we build around it deserve the same standard, because the alternative is no longer on the table. The choice was never open or closed. It was disciplined or exposed. The broader lesson of this Coldcard situation is that having closed source software is like having a seed generated by a broken Coldcard; it looks good but it’s fundamentally built on sand. Everyone can read the code — the only question left is whether you acknowledge that fact, or you and your users learn it the way Coldcard’s users did, one drained address at a time. This is a guest post by Colin Crossman, who is a content producer at Fedi. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine. This post The End of the Closed-Source Era Is at Hand: Obscurity Was Never Security first appeared on Bitcoin Magazine and is written by Colin Crossman. Переглянути повний текст

Bitcoin Magazine Breez Drops New Bitcoin App Which Doubles As Wallet and Developer Toolkit Bitcoin software provider Breez has released a new app it says will serve both everyday users and developers. The product, dubbed Glow, is supposed to be an easy way to make Lightning transactions easier for everyday users, while also doubling as an open-source blueprint — a way to see exactly how easy it is to implement Bitcoin features using the SDK’s API — for builders. Breez claims the app will help developers exploring Bitcoin see what’s possible by packaging in the features that are essential for any Bitcoin app to compete in its category. Being open-source, developers can open up Glow’s codebase and see exactly how each of those features — such as passkey login, Lightning addresses or stablecoin transfers — work and use them for their own app, rather than building it from scratch. For example, a developer building a social app doesn’t need to figure out how Lightning address or contacts should work — they can look at Glow’s code, see the API calls it makes, and replicate that in their own product with minimal effort. Developers can fork Glow, rebrand it, and ship it as their own, according to Breez. Because developers building on the SDK never take custody of user funds, Breez notes the regulatory footprint stays minimal — letting teams focus on product rather than compliance overhead. The Glow app release comes after Breez announced it was working with Turnkey last month, a deal letting developers add non-custodial Bitcoin to apps running wallets from their own servers — solving a custody problem that has kept many of the largest consumer platforms from integrating Bitcoin at all. According to the companies, keys now stay out of reach of the app’s servers, Breez, and Turnkey. The company’s backend holds a credential that defines what actions it can take, while authority to move funds rests with the user. The deal positions some of the world’s largest consumer apps to add non-custodial Bitcoin without rebuilding their backend architecture or taking custody of user funds. This post Breez Drops New Bitcoin App Which Doubles As Wallet and Developer Toolkit first appeared on Bitcoin Magazine and is written by Mathew Di Salvo. Переглянути повний текст

Bitcoin Magazine Bitcoin ETF Inflows Surge Following $130M Coldcard Hack Investors are throwing cash at spot Bitcoin exchange-traded funds following the massive Coldcard hack. Major U.S. funds managed by BlackRock, Fidelity, Grayscale, Morgan Stanley and others have received a total of $626 million in fresh cash following news of the hack on Friday, according to data from Farside Investors. Hackers last week started millions in Bitcoin from Coldcard wallets after discovering a vulnerability in the product’s software. Some estimates put the amount of Bitcoin lost now at over $130 million. Writing on X Thursday, Bloomberg Intelligence’s senior ETF analyst, Eric Balchunas, said the flows might not be related to the hack, but investors would be making a good move to allow fund managers to look after their Bitcoin. “Who are you gonna trust to not screw up the security of your Bitcoin (or get it back if some scumbag does mess with it): a 5-man boutique in Canada or this guy and his 25,000-employee, $15T by-the-book empire?” wrote Balchunas, posting a picture of BlackRock CEO Larry Fink’s face, and criticizing Coldcard’s parent company Coinkite’s small team. who are you gonna trust to not screw up the security of your bitcoin (or get it back if some scumbag does mess with it): a 5-man boutique in Canada or this guy and his 25,000-employee, $15T by-the-book empire? TradFi doesn't seem so lame now after all does it? pic.twitter.com/EHTVeQVcAm — Eric Balchunas (@EricBalchunas) August 6, 2026 He added: “TradFi doesn’t seem so lame now after all does it?” BlackRock’s iShares Bitcoin Trust (IBIT) has received most of the new investment from the ETF investors. The Wall Street titan’s ETF was approved by the U.S. Securities and Exchange Commission in 2024 and had the most successful launch in the history of ETFs. Investors previously put off from buying Bitcoin due to the complexities of cold storage and private keys can now buy shares that trade on stock exchanges that track the price of Bitcoin. The ETFs — managed by other top Wall Street fund managers — currently manage a total of $77.8 billion in assets, according to Coinglass data. A firmware flaw in the popular Coldcard hardware wallets — tracing back to a 2021 build issue that skipped the device’s dedicated randomness chip — let an attacker guess weak private keys. Millions of dollars in Bitcoin has been drained on a daily basis since the attack, and cautious investors have been moving their coins to other storage solutions — including exchanges. This post Bitcoin ETF Inflows Surge Following $130M Coldcard Hack first appeared on Bitcoin Magazine and is written by Mathew Di Salvo. Переглянути повний текст

Bitcoin Magazine Circuit, DaLand Give Credit Unions a Direct Path to Bitcoin Credit unions now have a production-ready path to offer Bitcoin and other digital asset services without relying on outside platforms after DaLand CUSO and Circuit, an 80-member credit union collaborative, announced that Circuit’s Digital Asset Initiative has moved into implementation. The program grants participating institutions access to DaLand’s CODE Engine and Coin2Core technology, which integrates digital asset capabilities directly into core banking systems from Corelation KeyStone, Fiserv DNA, and Jack Henry Symitar. Under what DaLand calls a “Hybrid Custody” model, credit unions retain custody, member relationships, and data rather than routing customers to third-party crypto platforms. Three credit unions are already live on the platform: St. Cloud Financial Credit Union, which issued its own stablecoin, $CLDUSD; Canvas Credit Union, a $5 billion institution that became a DaLand owner after deployment; and Blaze Credit Union, which also invested as an owner. Together, DaLand says its production footprint now covers credit unions representing more than $10 billion in combined assets. The announcement comes as the passage of the GENIUS Act and other federal digital-asset legislation push financial institutions to formalize their crypto strategies. Executives framed the move as a shift from studying digital assets to actually deploying them. “We weren’t looking for another concept to study,” said Canvas CIO David Pierce, adding that the credit union wanted infrastructure it could own rather than rent. Blaze’s Justin Burleson, a former NCUA official, said his institution wanted digital asset activity to stay visible to “examiners, boards, and members,” rather than sit with an outside vendor. Circuit, which spent the past year building educational programming around digital assets, said Phase 2 marks a shift toward hands-on evaluation. “Innovation moves faster when credit unions share what they’re learning,” said Circuit’s Chief Strategy Officer Ethan Cunningham. Credit unions interested in joining can contact either organization directly. This post Circuit, DaLand Give Credit Unions a Direct Path to Bitcoin first appeared on Bitcoin Magazine and is written by Mathew Di Salvo. Переглянути повний текст

Bitcoin Magazine White House Now Reviewing Crypto Clarity Act Ethics Text Ahead of August Deadline: Report Time is running out to get a vote on the long-awaited crypto Clarity Act, though bipartisan work is intensifying with the White House reviewing the latest draft behind closed doors, according to reports. Senator Thom Tillis said that bipartisan language drafted and sent to the White House last week is currently being reviewed by the White House. “We’ve got people working with White House right now…they’re going through some of the lines right now,” he was quoted and first reported by Punchbowl News Senior Reporter Brendan Pendersen. Senate Majority Leader John Thune declined to file cloture on the crypto market structure bill Wednesday afternoon, according to Punchbowl News, leaving negotiators only a narrow window to reach something resembling consensus. Thune had told reporters earlier in the day that he still hoped for a vote before the break, and Republican and Democratic staff reportedly held a flurry of meetings over the prior 24 hours trying to close out remaining disagreements. Despite optimism last week from top crypto companies — like Coinbase — and backing from major financial institutions, lawmakers appear to be prioritizing other bills to vote on before their five-week break starting Thursday or Friday. JUST IN: Senator Tillis tells says the White House is now engaging on bipartisan Clarity Act ethics text, Punchbowl News reports. “We’ve got people working with the White House right now…they're going through some of the lines right now” pic.twitter.com/y3vUHDcbr9 — Bitcoin Magazine (@BitcoinMagazine) August 5, 2026 Republicans like Senator Cynthia Lummis have said that Democrats are deliberately holding back the bill. Senator Thom Tillis, who has been working with Democrats on ethics language for the bill, said the odds of a vote hinge on whether the Senate stays in Washington past its scheduled Thursday departure. “If we were getting out on schedule, which would be tomorrow afternoon, I think it’d be a moonshot at this point,” Tillis said. “But there’s still a chance if we’re going to be delayed, particularly if we have to go into next week.” Meanwhile, momentum for the bill is building outside the Senate floor. South Carolina Republican Darline Graham posted on X in support of swift passage, framing the Clarity Act as central to President Trump’s push to keep digital-asset innovation in the U.S. She added that the Senate needs to deliver a bill that protects consumers, arms law enforcement, and gives the industry regulatory certainty, adding that she stands ready to back Senate Banking Chairman Tim Scott, Senator Cynthia Lummis, and the president in getting the legislation “across the finish line.” If cloture is filed Thursday, a floor vote could still come as soon as this weekend — though a delay into next week may be the bill’s best remaining shot at passage before recess. This post White House Now Reviewing Crypto Clarity Act Ethics Text Ahead of August Deadline: Report first appeared on Bitcoin Magazine and is written by Mathew Di Salvo. Переглянути повний текст

Bitcoin Magazine Bitcoin Red Team Finds 85 Critical Flaws Across 390 Open Source Repos After Coldcard Exploit Rallied by the recent, catastrophic vulnerability in Coldcard hardware wallets, exploited to the tune of over $100 million, the Bitcoin community has rallied to prevent future critical bugs in the industry’s open source software. PSA: Any users of Coldcard wallets that have not migrated their bitcoin to new seeds generated in secure firmware are still at risk. It may not be too late to act; see advisory on the matter. Led by Calle, software engineer, avid vibe coder and creator of the Android version of Bitchat, and Rob Hamilton, the CEO of Anchorwatch a Bitcoin self-custody insurance company, the Bitcoin Red Team has now secured funding, with over $40,000 spent in AI tokens to audit over 390 Open Source repositories across Bitcoin. Colloquially called the “Bitcoin Red Team”, with memes about Rob Hamilton and Calle now being the CEO and CTO of Bitcoin, this AI-driven security audit is having a serious impact across the industry. Just a few days ago, buried in the news of ongoing thefts of bitcoin from MK3+ Coldcards due to an RNG bug, Boltz exchange announced it would be pausing operations to catch up with AI-driven hacking attempts. “27.5 hours in, we’ve filed 4,962 findings across 390 projects. 85 critical and 635 high severity issues. We’re at 2.31 h+c findings per person per hour,” said Calle in the most recent update on Red Team efforts to shore up the industry’s cybersecurity. The Red Team security review effort is using models like Kimi K3, GPT Sol, Fable, Opus and GLM5.2, some of the most expensive and cutting-edge models in the market. At first, access to OpenAI and Anthropic models was limited, leading to an over-reliance on Chinese open-source models, a fact which many in the industry lamented and saw as a bad omen for U.S. AI dominance. But as the Red Team project grew in influence since last week’s Coldcard hack, connections have been established and confirmed with OpenAI, giving Red Team access to GPT Sol. Hamilton’s mention of Fable in his August 4 tweet suggests access to Anthropic has also been established. Expenses which were last tallied at over $40,000 have been covered by OpenSats, a non profit 501c3 organization dedicated to funding open source Bitcoin development projects. The Bitcoin Red Team does not currently have a website or a GitHub repository to link to, but the team is made up of many individuals within the Bitcoin industry. Individuals publicly thanked for their support include but are not limited to danielabrozzoni, lylepratt, stutxo, benthecarman, thesimplekid. Hamilton shared that a custom harness has been built and is evolving quickly. Made up at one point of 171,599 lines of code, the harness is designed to identify and test critical Bitcoin software libraries and high-load-bearing code, identify and document vulnerabilities, reproduce them and package the proven data into useful reports. Ultimately delivering the information responsibly to engineers in the industry. Hamilton also shared that Red Team intends to open source the harness such that Bitcoin companies can run it against their closed-source code. Red Team is actively reaching out to relevant open source projects with critical vulnerabilities discovered, leading to a broad sense of dread from engineers in the industry when they receive cold direct messages from Hamilton or Calle, as seen in various humorous screenshots shared on social media. https://x.com/callebtc/status/2085035257477190080 Among the key insights shared by Red Team publicly as this AI-driven security update of Bitcoin FOSS takes place, Hamilton shared that engineers with specific subject matter could sometimes yield high-value results from the Harness, which might otherwise “smell out something is wrong,” but might be missing niche context. An insight which speaks to the importance of having human intelligence and experience work hand in hand with the AI to efficiently identify critical vulnerabilities. Hamilton also ended a multi-day Red Team effort after the Coldcard hack with some personal notes. He said that the discovered vulnerability in Coldcard random number generators and consequent exploitation of the bug by hackers had been a “spiritual attack” on Bitcoin and the self-custody ethos of the industry, “I mean that in the literal sense of the words”. After expressing grief for the losses experienced by many Bitcoiners during this now historic hack, Hamilton closed his tweet with a tone of hardened resolution: “While things are not easy right now. I have the highest conviction ever in my life that the idea and technology of Bitcoin is worth fighting for. To that end. There is no Bitcoin without self-custody. This is non-negotiable.” This post Bitcoin Red Team Finds 85 Critical Flaws Across 390 Open Source Repos After Coldcard Exploit first appeared on Bitcoin Magazine and is written by Juan Galt. Переглянути повний текст

Bitcoin Magazine Russia Passes Law to Regulate Crypto Exchanges, Keeps Payment Ban in Place Russian President Vladimir Putin has reportedly signed a law to set in stone the regulation of digital currencies and digital rights in the country — but citizens won’t be using Bitcoin to pay for goods just yet. News agency Tass reported Tuesday that the new law will allow only registered entities to operate as exchanges, and puts limits on the amount of crypto retail investors can use. For now, retail investors are limited to trading most liquid cryptocurrencies, capped at 300,000 rubles ($3,700) per year. Qualified investors have no restrictions, according to the report. But the new law still prohibits digital currencies and digital rights as a means of payment or legal tender within Russia. Using crypto has been illegal in Russia as a form of payment since 2022. According to the report, Russians can use digital currencies to pay for settlements under foreign trade contracts between residents and non-residents or for those involved in crypto mining. Russian regulators, lawmakers and the central bank have been over the past few years trying to set in stone clear rules for digital assets. But Putin is pro-Bitcoin? The news that digital currencies can’t be used as payments may come as a surprise to those who have heard President Putin talk about Bitcoin. Back in 2024, the Russian leader seemed to speak highly of Bitcoin, saying that new technologies were emerging that could help people move money. “For example, Bitcoin, who can ban it? Nobody,” he said. BREAKING: Russian President Putin says "Who can ban #Bitcoin? Nobody." pic.twitter.com/6mJ664BZZ8 — Bitcoin Magazine (@BitcoinMagazine) December 4, 2024 The president has also spoken about how the country has “competitive advantages” when it comes to Bitcoin mining due to the abundance of cheap energy in Russia. But Russian lawmakers want to retain a tight grip on citizens’ spending; the use of digital currency has been for years permitted for international payments — most likely as a way to dodge Western sanctions. This post Russia Passes Law to Regulate Crypto Exchanges, Keeps Payment Ban in Place first appeared on Bitcoin Magazine and is written by Mathew Di Salvo. Переглянути повний текст

Bitcoin Magazine ‘If Clarity Dies, Democrats Killed It’: Lummis Urges Senate to Act on Crypto Bill Before Recess Pro-bitcoin Senator Cynthia Lummis has said that bipartisan work is going into the crypto Clarity Act but warned that some lawmakers are still making unreasonable demands. The Republican, speaking to Fox Business Wednesday, said that she had been working with Democratic lawmakers into the night to get the bill over the line. But she said that some Democrats were still dragging their feet on the bill. Lawmakers are pushing to get a vote on the crypto market structure bill before the Senate goes to recess. JUST IN: Senator Cynthia Lummis says "I believe we will get a vote on the Clarity Act before August recess." "I don't think we'll be leaving on Friday, I think we'll go into the weekend." Pass it! pic.twitter.com/1AZR7DzEln — Bitcoin Magazine (@BitcoinMagazine) August 5, 2026 “The president agreed to an ethics provision that no president has ever agreed to,” Lummis said. “He’s gone farther to protect ethics than any president in history — yet the Democrats do want more. Their proposal is in front of the president now, and we’ll see what he does.” She added: “We’re going to vote on it. If it dies, it’s going to be because the Democrats kill it. I’ve bent over backwards for 11 months, to give them as much as we can possibly give them to regulate this industry.” The Clarity Act has been in a deadlock for much of 2026, partially because the banking lobby raised concerns over crypto companies allowing clients to earn stablecoin yield. An updated bill of the Clarity Act was introduced in July addressing concerns around ethics; it now bans government officials and their families from issuing or promoting crypto. Democrats have criticized President Trump’s family crypto business ventures. The White House has always said there have been no conflicts of interest. A group of Democrats in July said the bill needs work. Major financial institutions like Fidelity and BlackRock, and law enforcement organizations have thrown their weight behind the new bill, If passed, the Clarity Act would create a regulatory framework for the U.S. cryptocurrency market. This post ‘If Clarity Dies, Democrats Killed It’: Lummis Urges Senate to Act on Crypto Bill Before Recess first appeared on Bitcoin Magazine and is written by Mathew Di Salvo. Переглянути повний текст

Bitcoin Magazine Bitcoin Treasury Firm Strategy Pledges $250 a Year to Employee Trump Accounts Bitcoin treasury company Strategy has said it will contribute to Trump Accounts for the children of its U.S. employees, becoming the latest major public company to layer corporate money on top of the federal savings program. The Tysons Corner, Virginia-based company (Nasdaq: MSTR) announced it will deposit $250 annually into a Trump Account for every eligible child under 18 of a U.S. employee, regardless of when the child was born. For children born on or after January 1, 2025, Strategy will also make a one-time $1,000 contribution in the child’s birth year, matching the seed deposit the U.S. Treasury provides to newborns under the program. A strong financial future starts early. Strategy has joined the Invest America Business Pledge and will match the @USTreasury's $1,000 @TrumpAccounts contribution for newborns of U.S. employees, plus contribute $250 annually for each eligible child.https://t.co/erz3oPkikP — Strategy (@Strategy) August 5, 2026 “Trump Accounts and the Invest America initiative can help build a stronger financial future for America’s children,” Phong Le, Strategy’s president and chief executive officer, said in a statement, adding that the accounts can encourage “financial education, long term thinking, and a culture of saving and investing from an early age” — goals he described as closely aligned with Strategy’s values. Trump Accounts, created under the One Big Beautiful Bill Act that Trump signed in 2025 and referred to in Treasury guidance as 530A accounts, launched July 4, 2026. Each is a tax-advantaged investment account for a child. On July 4, the government deposited one-time $1,000 seed contributions into accounts for more than 500,000 children. Children born between January 1, 2025, and December 31, 2028, who are U.S. citizens qualify for that federal deposit, and families can contribute up to $5,000 a year. Funds are locked until age 18, when the account converts to a traditional individual retirement account. In a July oval office event marking the launch of the accounts, President Trump said that Bitcoin could one day play a role in the new Trump Accounts savings program. The president campaigned on a ticket to help the space and received major backing from digital asset entrepreneurs. Since taking office, Trump has passed a number of pro-crypto pieces of legislation. This post Bitcoin Treasury Firm Strategy Pledges $250 a Year to Employee Trump Accounts first appeared on Bitcoin Magazine and is written by Mathew Di Salvo. Переглянути повний текст

Bitcoin Magazine Self Custody Is Dead. Long Live Self Custody The Coldcard hack last week dealt a low blow to certain elements of the Bitcoin industry. A somber introspection has begun to question many of the practices and assumptions involved in securing bitcoin at a retail level. The consequences of this process might not be visible for many months. Some are saying that self-custody is dead. Some reports estimate that over 11,000 bitcoins were moved to custodial exchanges last week as users fled one of the most popular hardware wallets in the Bitcoin industry. The hack, which is ongoing and users can still save themselves from, has seen north of 1,300 bitcoins stolen, with some estimates as high as 2,000 coins. Coinkite in particular and its most vocal founder, NVK, had very strong opinions about what it took to secure bitcoin private keys from hackers. Its hardware wallets were airgapped to make sure malware could not exfiltrate data through USB cables. It used low-resolution, LED screens to avoid the complexity of touch screens. It developed protocols like BBQR and integrated NFC so that information could be transferred between the device and a computer without them touching or sharing SD cards. The list of paranoid design choices that made Coldcards iconic is long. Yet the hackers involved in the theft of bitcoins held in Coldcards last week did not use any methods you might see in a modern spy movie. They exploited the one feature Coldcard should have had absolutely locked down. The generation of keys with high enough randomness, also known as entropy. In other words, secrets securing that are actually, mathematically hard to guess. While the devices were intended to use high-quality sources of entropy, the firmware had a bug which did not, resulting in Bitcoin private keys that were, in turn, easy to guess. The bug went undiscovered for years, and the product only grew in popularity in the meantime, until last week. “Just buy the ETF bro” Despite this loss, which wounded a cohort of Bitcoiners who were among the most committed. Bitcoin can not give up on self-custody and expect to retain its integrity. At least that is what many in the industry believe, and the case for that is clear. Satoshi Nakamoto’s white paper clearly intended Bitcoin to be a solution to trusted third parties and intermediaries. It eloquently made the case against trusted hierarchies of finance, as the 2008 financial crisis revealed the deep systemic risks and flaws legacy finance has led to. Many believe the 2008 crisis was never escaped, its consequences haunting us to this day. This may be unpopular, but we never escaped the 2008 financial crisis. We just shifted the pain. — Nayib Bukele (@nayibbukele) July 29, 2026 Going further back to the birth and proliferation of the modern banking system and its fiat currency. The 6102 executive order signed by President Franklin D. Roosevelt in 1933 saw the persecution and confiscation of gold from centralized trusted third parties and citizens alike. $300,000,000 in gold was returned after the executive order threatened gold owners with heavy fines and jail time if they did not sell their bullion to the banks at $20,67 per ounce. Over 14 million troy ounces worth of gold were turned in as a result. Another 200 million troy ounces are estimated to have been held in the American banking system at the time. The banking system, not just in the U.S. but worldwide at the time, was built atop the gold standard. The U.S. was the largest economy of the world at the time, with the biggest concentration of gold inside its borders. Its abandonment of the gold standard was a death blow to gold as a free market pricing mechanism for goods and services as a whole. Governments throughout the world, now free from the chains of sound money, quickly fed and fattened from the hidden tax of inflation. At the time of the EO, the price of gold was artificially fixed to $20.67 an ounce; not a year later, it was repriced to $35 with the passing of the Gold Reserve Act in 1934, a 69% devaluation in the dollar. The fiat standard was thus delivered to governments throughout the world on a silver platter, by an unholy alliance between the banking system and politicians. It granted central banks the legal right to counterfeit money, to print it at will. It was soon followed by World War Two, which was of course funded by fiat currency. Tens of millions of people sacrificed in this war at the altar of state power. Fast forward a hundred years and U.S. government debt demands almost a trillion per year be paid in interest alone, with total owed close to 40 trillion and debt to GDP at 123%. These are arguably the inevitable yet predictable consequences of the death of the gold standard. The purchasing power of the dollar has collapsed in the century that followed, at the same time as technology has gone parabolic in its efficiency gains. That is only possible with money that has continually become worthless for decades. And the dollar is the best of the fiat lot. Confiscation of gold in a rising power like the United States murdered the gold standard. It, however, could not have been possible if civilian custody of gold had been wider and more distributed. Many of the civilians who returned millions in gold after the 6102 EO had just taken it out of their accounts in a bank run. Their names were known, the amount of gold they held, tallied. If gold was easier to move in large quantities. If private gold ownership totals had been more ambiguous. If removing the free flow of gold had not been so easy for the state to do, by knocking on the doors of bankers and pointing a gun, then perhaps the economies of the world would not have been able to withstand such a vast and destructive war, as was WWII for so long, in the following decade. Bitcoin is Gold, Engineered To Survive a 6102 EO Bitcoin poses an alternative to gold, designed to learn from its inadequacies. Bitcoin has better properties to resist and survive such a confiscation. Bitcoiners envision and aspire to unlock a world that adopts Bitcoin as a global monetary standard. Where a large minority or even a small majority of the global economy uses Bitcoin as their primary store of value. In such a future, Bitcoin would take the place of gold and return sound money to the so-called capitalist order. To reach global reserve currency and defend this position, Bitcoin will need to be better than gold, and it can be better precisely because of its digital nature. The control of private keys, as difficult as it seems now in the shadow of the Coldcard hack, nevertheless can be far more powerful than any physical vault. Multi-signature scripts alone unlock distributed storage of Bitcoin private keys, such that a threshold of them must approve to move coins. This means that multi-jurisdictional, multinational vaults can exist and escape or resist the greedy hands of a large state that might attempt a new kind of 6102 takeover. The digital nature of Bitcoin means large amounts of value can be moved easily as well, without having to send the navy on a mission to pick up the gold. Without having to build a trusted hierarchy of banking custodians to transfer it. Civilians, with tools available today and better tools that are yet to come, might be able to hide their Bitcoin ownership as has been done in war-torn countries like Ukraine already, escaping a fearsome state’s grip over the public’s wealth. Ultimately, a major hardware wallet manufacturer has failed the Bitcoin industry. The fundamental qualities of money remain the same, and among them all, as identified by Aristotle and others beyond him, Bitcoin remains king. “Bitcoin vs gold vs fiat One is not like the others” – @BITCOINARCHIVE This post Self Custody Is Dead. Long Live Self Custody first appeared on Bitcoin Magazine and is written by Juan Galt. Переглянути повний текст

Bitcoin Magazine SEC Commissioner Hester ‘Crypto Mom’ Peirce Optimistic About Clarity Act The Security and Exchange Commission’s outgoing commissioner, Hester Peirce, has expressed optimism that the long-awaited Clarity Act will pass. Speaking on CoinDesk’s The Policy Protocol show, the regulator said that passing the law would help the SEC in drafting regulation. Lawmakers are pushing to get a vote on the crypto market structure bill — or Clarity Act — before the Senate goes to recess. Some Republicans have bemoaned that Democratic members of the senate are deliberately dragging their feet with the bill. The Senate has 4 days to pass the CLARITY Act before recess. Contact your Senator and tell them to pass the bill! pic.twitter.com/3ZHZEmh7UC — Bitcoin Magazine (@BitcoinMagazine) August 3, 2026 “I’m still optimistic that the bill will get finished, and it will give I think the industry and investors and regulators an easier path forward because there’ll be very clear lines about who has authority over the crypto spot market, for example,” Commissioner Peirce said. “If the legislation passes, we’ve got lots of rulemaking to do,” Peirce continued. “But even if it doesn’t pass, we can do a lot: We can develop a framework for people who are trying to do fundraising using crypto assets, as an example.” The Clarity Act has been in a deadlock for much of 2026, partially because the banking lobby raised concerns over crypto companies allowing clients to earn stablecoin yield. An updated bill of the Clarity Act was introduced in July addressing concerns around ethics; it now bans government officials and their families from issuing or promoting crypto. But a group of Democrats have said the bill needs work. If passed, the Clarity Act would create a regulatory framework for the U.S. cryptocurrency market. Commissioner Peirce earned the nickname “crypto mom” for her friendly approach to regulating the space despite the SEC’s previous actions. Under ex-Chair Gary Gensler, the top regulator was openly hostile towards the digital asset space and hit crypto companies with a number of lawsuits. Since President Donald Trump took office in 2025, the SEC — and other regulators — have taken a far more friendly approach to crypto legislation. The SEC in 2025 announced a crypto task force specifically aimed at watchdogging the space. This post SEC Commissioner Hester ‘Crypto Mom’ Peirce Optimistic About Clarity Act first appeared on Bitcoin Magazine and is written by Mathew Di Salvo. Переглянути повний текст

Bitcoin Magazine Asset Manager 3iQ to Manage Bhutan’s Bitcoin Reserves Canadian digital asset manager 3iQ Corp. will work to manage some of the Bitcoin reserves of Bhutan’s Gelephu Mindfulness City project. 3iQ, Canada’s biggest and oldest digital asset fund manager, will not only manage the 10,000 Bitcoins pledged to build the new region, but also invest in local talent and establish a long-term physical presence in Gelephu as the region positions itself as Bhutan’s new offshore digital financial hub, according to a statement. Bhutan last year said it would use 10,000 Bitcoins to fund a special administrative region called the Gelephu Mindfulness City. First announced in 2023, the GMC will be “a world-class economic hub in southern Bhutan.” “From the very inception we were aligned with GMC’s vision to create a next-generation economic hub that attracts global talent while being committed to Bhutan’s cultural values and environmental principles,” 3iQ’s director and CEO, Pascal St-Jean, said in a statement. The GMC’s Board Director, Jigdrel Singay, added: “Beyond their institutional expertise and global track record in digital asset management, what stood out to us was their genuine commitment to investing in people, transferring knowledge and building local capabilities.” Bhutan has been buying Bitcoin for years, and the GMC project is a way of using its stack to Bhutan started quietly mining Bitcoin in 2019. Then, in 2024, it announced it held a reserve of the digital coins before in January 2025 saying it would hold other cryptocurrencies on its balance sheet. According to Bhutan’s government, the GMC, will be “a new economic hub in southern Bhutan designed around mindfulness, sustainability, and innovation,” and is central to Bhutan’s broader effort to diversify its economy beyond hydropower and tourism. The plan is similar to El Salvador‘s crypto ambitions. The tiny Central American nation also announced plans in 2021 for a smart city dubbed “Bitcoin City” — a tax-free economic hub aimed at attracting the nomadic wealthy and tech entrepreneurs, funded via Bitcoin-backed tokenized bonds. This post Asset Manager 3iQ to Manage Bhutan’s Bitcoin Reserves first appeared on Bitcoin Magazine and is written by Mathew Di Salvo. Переглянути повний текст

Bitcoin Magazine Corporation’s Approach to the BIP-110 Soft Fork BIP-110 is approaching its first consequential activation boundary. The proposal enters mandatory signaling at block 961,632, currently projected around August 9, 2026. It locks in no later than block 963,648, roughly in late August, and activates its new transaction rules at block 965,664, currently projected for early September. BIP-110 uses a 55% signaling threshold and would enforce its restrictions for 52,416 blocks, approximately one year. Bitcoin resolves consensus changes through coordination among miners, users, and nodes (note that anyone can be any combination of these three things). Miners choose which valid chain to extend. Users decide which chain’s coins, deposits, and payments they recognize. Nodes independently choose which rules they enforce. Durable consensus emerges whenever these groups converge on the same chain. BIP-110 restricts large data pushes, oversized output scripts, undefined witness versions, Taproot annexes, deep Taproot control blocks, OP_SUCCESS opcodes, and certain Tapscript conditionals. It grandfathers UTXOs created before activation, while standard monetary uses remain compatible with its rules. Most corporations don’t have to do anything For most corporations, BIP-110 requires no action. Today, the typical corporate Bitcoin utility is as a store of value, as a long-duration treasury reserve asset. This use case is basically unaffected by the transaction features targeted by BIP-110. Corporations using Bitcoin for payments also face limited direct impact. Standard on-chain payments remain compatible (see below for specifics), while ordinary Lightning payments occur off-chain. A chain split can still affect Lightning channel monitoring, force-close behavior, and the chain source that a Lightning node treats as authoritative. However, even corporations using Bitcoin for payments normally use a third party provider like Square, so all of this abstracted away to be a non-issue. A corporation that runs its own full node has a direct choice. Every user retains the right to run the Bitcoin implementation that matches its needs. A corporation that supports BIP-110 should therefore switch over to running BIP-110. All other node-running corporations can simply do nothing. A BIP-110 node enforces tighter rules. During mandatory signaling, it rejects blocks that fail to signal bit 4. After activation, it also rejects blocks containing transactions that violate BIP-110. A non-BIP-110 node accepts BIP-110-compliant blocks as well as blocks that remain valid under the existing rules. Among all chains valid under its own rules, a node follows the branch with the greatest accumulated proof of work. So the key factor to be aware of is a chain split. When miners build a chain that is not compliant to the BIP, BIP-110 nodes can separate from the broader network. Non-BIP-110 nodes may continue following the higher-work branch, while BIP-110 nodes could remain on a compliant branch with less accumulated work. Corporations dealing with chain splits Mining companies face the highest immediate economic exposure. Electricity and machine time are sunk costs. A miner should select the branch it expects other miners, nodes, and users to recognize and mine on it. A miner may also stop mining and wait for the chain split to resolve. If BIP-110 and non-BIP-110 chains develop independently, miners must track chainwork, signaling, validity under both rule sets, and their own mining pool’s stance, and the market value assigned to each branch. Corporations operating exchanges and institutional custody should prepare for settlement uncertainty. During an extended split, the ordinary six-confirmation standard loses much of its value because each branch can show six confirmations independently. Operators should monitor both branches, raise confirmation requirements, pause large deposits or withdrawals when risk rises, and delay final settlement until one branch has decisively accumulated more work or the transaction has sufficient depth on all viable branches. Different validation rules can produce chain splits, false confirmations, and double-spend risk. Let’s consider a chain split occurring at block height S. Suppose a deposit appears on Chain A at S+4 and on Chain B at S+6. Once both chains reach S+12, the deposit has substantial depth on each branch (assuming we are still using six-confirmations). Now, this number of six confirmations should change depending on the work on each branch. And it might be the case that the number of confirmations one would like to see would be different for each branch. The main point is that the operator must wait until both branches reach the requisite confirmations. The operator can at that point be confident that the transaction remains, not matter which branch becomes canonical. If the transaction appears on only one branch, the operator should wait for that branch to win or apply chain-specific accounting. That would be the only way to ensure no double spending happens. In practice, monetary transactions should always eventually appear on both branches, since the BIP-110 chain does not prohibit monetary transactions. Conclusion The main thing to be aware of is a chain split. If there is no split, then there is nothing that needs to be done differently. Even with a chain split, BIP-110 will not create insurmountable disruptions. For corporations that may be impacted by a chain split, the main action to take is to lengthen confirmation times and monitor both branches. For node-running corporations that support the BIP, the main action is to start running it on their nodes, if they haven’t already. Miners, as usual, should direct their hashrate based on their view of which branch will end up with the most accumulated proof of work. Exchanges and custodians should lengthen settlement procedures and maintain visibility into both chains, should a chain split occur. For the daily operations of most corporate Bitcoin users, BIP-110 changes very little, if it changes anything at all. Disclaimer: This content was prepared on behalf of Bitcoin For Corporations for informational purposes only. It reflects the author’s own analysis and opinion and should not be relied upon as investment advice. Nothing in this article constitutes an offer, invitation, or solicitation to purchase, sell, or subscribe for any security or financial product. This post Corporation’s Approach to the BIP-110 Soft Fork first appeared on Bitcoin Magazine and is written by Allard Peng. 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Bitcoin Magazine FBI Agent Accused of $1 Million Crypto Theft From ‘Adversarial Nation’ A Federal Bureau of Investigation agent allegedly took $1 million in seized cryptocurrencies before turning himself in, according to court records. Documents unsealed this week allege Patrick Steven Yaroch, who was a FBI Supervisory Special Agent working at the FBI Headquarters Counterintelligence and Espionage Division, claimed he “was frustrated that the FBI could not or would not act against adversarial cryptocurrency accounts.” He then proceeded to “take matters into his own hands,” according to the affidavit filed with a district court in Virginia, and transfer $925,426.07 in crypto to his personal wallets over numerous transactions. Yaroch then allegedly toyed with the idea of retiring in Portugal with his wife, court documents claim, citing his ChatGPT history, but later confessed to a Department of Justice employee what he had done. “Yaroch told DOJ employee 1 that he made some very poor decisions related to cryptocurrency wallets,” court documents read. “Yaroch said that he went into FBI systems and found keys needed to transfer money from wallets to himself.” A motion for a detention order, made public on Tuesday, added: “The weight of the evidence against the defendant is strong. He confessed to stealing the cryptocurrency from the adverse nations’ wallets.” Court filings further allege that Yaroch “previously had access to some of the nation’s most secret and important information. He then chose to misuse this information to steal money, for his own financial gain.” It adds that the defendant has been charged with two felonies that carry a maximum penalty of 10 years of incarceration each. The nation in question has not been named in the documents. The court documents made public this week only briefly mention that Yaroch had a tiny amount of Bitcoin in his Kraken account; the vast majority of his funds were held in stablecoins. Yaroch, from Ashburn, Virginia was fired from the FBI on July 31, and investigations are ongoing, according to the court documents. This post FBI Agent Accused of $1 Million Crypto Theft From ‘Adversarial Nation’ first appeared on Bitcoin Magazine and is written by Mathew Di Salvo. Переглянути повний текст