Author: James Wilson

OKX has reported record inflows to its centralized exchange following the Coldcard hardware wallet exploit, as the company says users are increasingly prioritizing managed custody after one of the largest known Bitcoin wallet security incidents. Summary OKX says it has recorded record exchange inflows after the Coldcard hardware wallet exploit prompted some users to move assets from self custody. The exchange said it prevented $26.3 million in scam related losses and protected more than $1.1 billion in customer assets during the first half of 2026. Galaxy Research has confirmed thefts totaling 1,596 Bitcoin across three attack waves, with losses potentially…

Bitcoin rose about 1.6% to trade near $63,700 on Aug. 4 after CNBC host Jim Cramer said he planned to sell his holdings because of concerns about quantum computing. Summary Cramer said he plans to sell Bitcoin after IBM chief Arvind Krishna raised quantum concerns. Bitcoin traded near $63,700, gaining 1.6% despite Cramer’s warning and weak spot market liquidity conditions. Google estimates fewer than 500,000 physical qubits could eventually break widely used elliptic curve cryptography. Glassnode classifies 1.92 million Bitcoin, or 9.6% of supply, as structurally exposed to quantum attacks. A 16,400 Bitcoin whale transfer moved funds between wallets, not…

India has expanded its global tax reporting framework to include specified crypto-assets, central bank digital currencies, and digital money products under updated FATCA and Common Reporting Standard rules. Summary India’s CBDT has expanded FATCA and CRS reporting rules to include specified crypto assets, CBDCs, and digital money products. Banks, insurers, custodians, mutual funds, and other reporting institutions must follow updated account identification and tax residency verification requirements. High value accounts with balances above $1 million will be subject to enhanced due diligence before being classified for reporting. The revised framework follows recent regulatory actions that increased oversight of crypto transactions,…

Nigeria’s revenue authority has issued detailed crypto tax rules requiring exchanges and P2P marketplace operators to collect, report and remit taxes arising from virtual asset transactions. Summary Platforms must withhold 1% from taxable crypto disposals, while stablecoin sales remain exempt under guidelines. Staking, mining, airdrops and DeFi rewards may face 10% withholding when classified as taxable income. Token to fiat and fiat to token transfers attract 1.5% stamp duty collected by platforms and marketplaces under guidelines. Some withheld taxes require remittance in originating tokens, while VAT follows the transaction’s payment currency. Nigeria’s framework places exchanges and P2P operators at the…

Jump Capital has closed its eighth institutional fund with $350 million in capital commitments, with the new vehicle dedicated to backing founders building AI applications, enterprise infrastructure, and cybersecurity technologies. Summary Jump Capital has closed its eighth institutional fund with $350 million to invest in AI applications, infrastructure, and cybersecurity. The firm said enterprise AI adoption is creating demand for new software, infrastructure, and security technologies. Fund VIII will back technical founders building AI native enterprise platforms and production ready infrastructure. The announcement builds on Jump Capital’s infrastructure focused investing, while Jump Crypto continues backing blockchain and Web3 projects separately.…

NEAR Protocol co-founder and NEAR Foundation CEO Illia Polosukhin proposed creating a protocol sovereign fund on Aug. 3, using roughly 30 million NEAR as its initial capital base.  Summary 30 million NEAR would seed the sovereign fund, worth roughly $57 million at current prices. Fund yield would finance validators, MPC providers and other ecosystem public goods under governance oversight. Polosukhin wants protocol revenue converted into NEAR rather than burned for temporary supply reductions alone. House of Stake delegates would participate through existing mechanisms, but no formal vote is scheduled. Stakeholders have two weeks to comment before supporters consider formal governance…

The CLARITY Act remains stuck in the Senate after the White House reportedly failed to respond to a bipartisan ethics proposal, pushing its 2026 passage odds back down to 27%. Summary The White House has not responded to the Tillis-Gallego ethics counterproposal. Polymarket traders give the CLARITY Act a 27% chance of becoming law this year. Senate leaders have yet to file cloture on the bill as the chamber’s recess approaches. Bernstein warns a delay could cause another “knee-jerk” crypto sell-off. White House has not answered ethics proposal Crypto journalist Eleanor Terrett reported Monday that the White House had yet…

Mastercard has completed its acquisition of stablecoin infrastructure provider BVNK, bringing on-chain payment technology into its global network. Summary Mastercard finalized the up to $1.8 billion acquisition first announced in March. BVNK connects fiat and blockchain networks for payments, settlement, payouts, and treasury flows. The deal expands Mastercard’s ability to support stablecoins and tokenized assets alongside traditional currencies. Mastercard is also backing Open USD and developing stablecoin payments for autonomous AI agents. Mastercard closes deal for BVNK Mastercard confirmed on Aug. 3 that it had completed the acquisition of BVNK, expanding its infrastructure for moving value between fiat currencies and…

FalconX has reportedly cut about 10% of its global workforce as the digital asset prime broker prepares for an extended cryptocurrency market downturn. Summary FalconX reduced its global workforce by roughly 10%, affecting an estimated 35 positions. The company plans to withdraw its Singapore license application and prioritize crypto derivatives. FalconX will maintain its Asian presence while directing more resources toward European expansion. The layoffs follow recent workforce cuts at Luno, Pump.fun and other crypto companies. FalconX layoffs affect about 10% of staff FalconX implemented the workforce reduction across its global operations, Bloomberg reported Monday, citing people familiar with the…

A former FBI supervisory agent allegedly stole about $1 million in cryptocurrency, mixed it with personal funds, and asked ChatGPT how to use the money and relocate to Europe. Summary Patrick Yaroch allegedly made about a dozen crypto transfers beginning in late 2024 or early 2025. Investigators said he used ChatGPT to explore investing $1 million and moving to Portugal. Yaroch allegedly booked a Sept. 3 flight to Portugal before his arrest. The FBI dismissed Yaroch on July 31, one day before the affidavit was filed. FBI agent allegedly transferred crypto using discovered keys Federal authorities arrested Yaroch on Friday…