💎 Bitmine Nears 5% Ethereum Supply Target

Bitmine Immersion Technologies has continued its aggressive accumulation strategy, purchasing another 10,399 ETH last week to bring its total stash to nearly 5.8 million ETH. The massive hoard now represents approximately 4.8% of Ethereum’s entire circulating supply, inching the company closer to its ambitious 5% acquisition target.

🚨 Coldcard Wallet Hack Drains $89M

In one of the most severe hardware wallet exploits in recent history, attackers have stolen approximately 1,367 BTC (worth nearly $89 million) by exploiting a critical vulnerability in Coldcard Bitcoin wallets. Hackers capitalized on a 2021 software bug that mistakenly utilized a weak pseudo-random number generator to create recovery seed phrases. This flaw drastically reduced the number of possible seed combinations, allowing attackers to mathematically recreate the master keys entirely offline and access the air gapped wallets.

🏛️ Senate Delays CLARITY Act Crypto Bill Vote to September

Senate Republican leaders have officially delayed the floor vote on the CLARITY Act, until at least September after failing to secure necessary Democratic support before the August recess. The delay leaves the crypto industry's top legislative priority unresolved as Republicans struggle to secure the 60 votes needed to overcome a filibuster, a setback that Crypto Council for Innovation CEO Ji Hun Kim warned will continue to push American builders and users offshore.

⚖️ Appeals Court Officially Upholds SBF’s 25 Year Sentence

The US Court of Appeals for the Second Circuit has issued a formal mandate upholding the fraud conviction and 25 year federal prison sentence of former FTX CEO Sam Bankman Fried. A three judge panel officially dismissed his appeal, firmly rejecting his argument that FTX had sufficient liquidity to eventually make customers whole. The court ruled that wire fraud occurred the exact moment he transferred customer funds to Alameda Research, regardless of his intent to eventually repay them.