Crypto News & Market Telemetry
Institutional-grade market intelligence, breaking protocol news, and macro signals powered by the Squaby Telemetry Desk.
Bitcoin Cold-Wallet Exploit Spreads to 4,500 Addresses
A new wave of sweeps linked to weak Coldcard-generated keys has expanded the Bitcoin cold-wallet exploit to roughly 4,500 addresses, with losses approaching $89 million. Galaxy Research says the attacker is now focusing on smaller balances and adjusting onchain collection methods, signaling a more adaptive campaign.
Minnesota Crypto ATM Ban Begins After $1M Scam Losses
Minnesota’s new restrictions on crypto ATMs are now in force after officials said residents lost roughly $1 million to kiosk-linked scams between 2023 and 2025, with seniors hit especially hard. The move adds to a growing U.S. regulatory push aimed at curbing fraud without shutting down legitimate digital asset access.
Tokenized Stock Trading Jumped 288% in July
Tokenized equity trading surged sharply in July, but the headline growth was heavily concentrated in one QQQ-linked token, QQQB. Excluding that single product, tokenized stock volume would have fallen below June levels, highlighting how narrow the market remains.
Crypto PAC Adds $1M to Michigan House Race
An industry-aligned crypto PAC has injected another $1 million into Michigan’s House race, intensifying the political pressure around incumbent Shri Thanedar’s re-election bid. The spending underscores how digital asset policy is becoming a growing factor in Democratic primary contests and broader U.S. election strategy.
Solana CISO Warns AI Is Supercharging Crypto Scams
Solana Foundation’s new CISO, Michael Coates, says artificial intelligence is making phishing, impersonation, and other crypto scams far more convincing. He warned that fake identities and AI-driven vulnerabilities are likely to become a major blockchain security threat.
Coldcard Bitcoin Loss Estimate Climbs to $70M
Galaxy Research says the scope of the Coldcard wallet incident is larger than first believed, identifying 1,196 addresses that lost 1,082.65 BTC in a 41-minute window. The revised estimate puts the total loss near $70 million, highlighting the persistent risks of wallet security and user-side operational mistakes in Bitcoin custody.
Russia Widens Crypto Mining Ban to Moscow Until 2032
Russia has expanded its cryptocurrency mining restrictions to include Moscow, the Moscow Region, and parts of Kursk Region, extending the ban through 2032 over electricity supply concerns. The move underscores growing pressure on miners in power-stressed areas and could accelerate a geographic shift in Russia’s mining industry.
Bitcoin ETFs Close July Higher Despite Month-End Selloff
Spot Bitcoin ETFs recorded $172.4 million in net inflows in July, ending the month in positive territory even after late-month selling pressure. However, the funds still sit $5.3 billion in net outflows year to date, underscoring how severe the May and June drawdowns were.
XRP Ledger 3.3.0 Restores Features After Bug Fixes
The upcoming xrpld 3.3.0 release is set to reintroduce two XRP Ledger features that were previously withdrawn after security researchers uncovered serious bugs. The upgrade signals renewed confidence in the network’s development process, though market participants may remain focused on implementation risk and validator adoption.
Google Pulls Earth AI Tool After Deepfake Fears
Google removed its new Earth AI image tool just one day after launch after concerns that it could be used to create convincing fake satellite imagery. The move highlights growing risks around AI-generated evidence, open-source intelligence, and trust in digital verification workflows.
Crypto Traders Weigh Perps Risks as Funding Rates Bite
Perpetual futures remain one of crypto’s most popular trading tools, but traders are increasingly focused on the hidden cost of funding rates. Both retail and institutional participants see perps as efficient and liquid, while also warning that leverage and crowded positioning can quickly turn them into a liability.
Tether Reports $1.5B Profit in Q2 Amid Reserve Changes
Tether's latest report shows a $1.5 billion operating profit in Q2 2023, alongside significant adjustments to its reserves, including gold and Bitcoin acquisitions.
Bitcoin Maintains Gains Despite Market Uncertainty in August
Bitcoin has managed to sustain its monthly gains amid negative news, but analysts caution that volatility may rise in August due to looming economic data and interest rate concerns.
Bank of Italy Study Reveals Stablecoin Remittance Costs Explained
A recent study by the Bank of Italy highlights that fiat conversion fees and existing payment infrastructures are the primary drivers of remittance costs, overshadowing blockchain transaction fees.
Pump.fun Faces Scrutiny After Layoffs Precede Token Release
Pump.fun's recent layoffs spark controversy as co-founder Noah Tweedale cites rapid growth, coinciding with the upcoming distribution of millions in PUMP tokens.
Ex-FTX Users Begin Receiving $900M in Fund Reimbursements
Former users of the failed FTX crypto exchange are reportedly receiving reimbursements as part of a $900 million distribution aimed at compensating creditors for their losses in 2022.
Tether Reports $1.5B Q2 Profit Amid Stablecoin Market Pressures
Tether's reserve surplus soared to $4.11 billion in Q2 2023, driven by increased USDT supply, despite challenges in the stablecoin market.
Crypto Update: Daily Insights on Bitcoin, DeFi, and Regulations
Stay informed with today's key developments in the cryptocurrency market, including trends affecting Bitcoin, DeFi, and regulatory changes shaping the industry.
Citadel Acquires Major Stake in Situational Awareness Amid AI Market Shift
Citadel has reportedly acquired a significant portion of Situational Awareness's stock portfolio, retaining approximately $10 billion in assets, including a stake in Anthropic.
Aave Considers Closing Six V3 Markets Amid Low Usage
Aave is contemplating the termination of six V3 markets and the offboarding of 50 underperforming reserves, following recommendations from LlamaRisk, a DeFi risk management service.