Coldcard wallets hit in massive bitcoin theft

The hack began on July 30, draining more than 1,300 BTC from thousands of addresses tied to Coldcard hardware wallets. The losses are estimated at ~$85 million and may still be rising. The attack exploited a five-year-old firmware bug that caused some devices to generate recovery phrases with far less randomness than users were promised, making them possible to guess with enough computing power. Read more →

Strategy (MSTR) sold another 1,638 BTC for roughly $105 million last week, reducing its holdings to 842,138 BTC (still ~4% of bitcoin’s supply). The company sold at an average price of $63,957, below its overall $75,419 cost basis, and used the proceeds to fund preferred-stock payouts and repurchase STRC shares. For a company long defined by relentless accumulation, the new playbook is becoming clear – bitcoin can now be sold to support the machinery built around it. Read more →

Coinbase’s (COIN) Q2 results showed a real slowdown from Q1. Total revenue fell 14% to $1.2 billion, transaction revenue dropped 21%, and adjusted EBITDA declined from $303 million to $208 million as crypto trading cooled. While shares did briefly drop to their lowest level in roughly two and a half years, there were some bright spots worth pointing to: Coinbase captured a record 10.3% of crypto trading volume, prediction-market revenue more than doubled, and subscriptions and services generated nearly half of net revenue. Read more →

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