The crypto market,
briefed in 60 seconds.

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

Global banks test tokenized money for cross-border payments in $1 million BIS pilot — Twenty-eight banks moved real money in live blockchain settlement test.

Major bitcoin wallet flaw drains 594 BTC in 25-minute sweep — A hardware wallet randomness bug made seeds guessable, leading to theft of 594 BTC worth $38 million.

Dubai-based crypto exchange tied to $4 billion Iran sanctioned-evasion network — Shelbit allegedly sent hundreds of millions to Binance and others, linking gambling and sanctioned Iranian entities to global crypto.

Coldcard's $38M exploit raises self-custody fears — A bug in Coldcard hardware wallets led to theft of nearly 600 bitcoin, prompting doubts about private key security for everyday investors.

Circle secures New York trust charter as crypto regulatory push accelerates — Approval lets USDC issuer offer fiduciary and custody services under New York banking law.

Strategy books $8.2 billion Q2 loss on bitcoin price decline — World's largest corporate bitcoin holder reports loss but built cash reserve for dividends.