The crypto market,
briefed in 60 seconds.

Bitcoin cold wallets lost $70M in attack that never touched devices — Galaxy Research says weak seed generation let attacker recreate private keys offline, sweeping over 1,000 BTC from nearly 1,200 wallets.

SEC to review Nasdaq bitcoin options approval after CME challenge — CME argues bitcoin is a commodity, so options fall under CFTC jurisdiction, not SEC's authority.

Bitcoin mining difficulty drops 14% from yearly high as low revenues push operators to adapt, with futures indicating no immediate relief. — SEC will review Nasdaq bitcoin options after CME argues jurisdiction belongs to CFTC since bitcoin is a commodity. - Solana's new CISO Michael Coates warns AI-driven scams and fake identities will be major blockchain security threats. - Bitget CEO Gracy Chen argues crypto's biggest market shows it's not converging to Wall Street, contrary to popular belief. - Binance's CZ advises spreading funds across multiple wallets after a $70 million Coldcard exploit exposed hardware wallet flaws.

Tether posts $1.5 billion operating profit in Q2 as reserve buffer falls by half — Tether reported $1.5B operating profit in Q2, added 14 metric tons of gold and 1,800 BTC to reserves, while reserve buffer halved.

Coldcard's $38 million (so far) exploit shakes faith in self-custody, may push investors to ETFs — A software bug in Coldcard wallet led to theft of nearly 600 BTC ($38M), raising self-custody security questions and potentially driving investors to ETFs.

Coinbase's weak quarter leaves Wall Street split on timing of a recovery — Most analysts blame the weak crypto market for Coinbase's earnings miss, but disagree on when trading activity will rebound.

Bitcoin mining difficulty shrinks 14% from this year's high as plunging revenues force operators to pivot — Difficulty drops as weak mining economics reduce capacity, with forward markets showing no relief until year-end.