Crypto Industry News & Market Trends

Bitcoin Rally Stalls, But Long-Term Sentiment Remains Bullish

In briefBitcoin dropped as low as $76,877 on Friday after Fed Chair Kevin Warshs hawkish Jackson Hole keynote, confirming the resistance zone flagged earlier this week.September rate-hike odds jumped to roughly 56% from about 35% a day earlier after Warsh said the Fed still has “work to do” on inflation.Myriad traders are still pricing Bitcoins next major move at 77% for $84,000 versus 23% for $55,000, largely unmoved by Fridays selloff.　　Bitcoin fell as low as $76,877 on Friday, giving up most of a double-digit weekly gain after Fed Chair Kevin Warshs first Jackson Hole keynote warned that inflation isnt cooling fast enough.　　The drop came from an overnight high of $81,455, inside the resistance zone that had already capped several prior breakout attempts this year. That zone held once again.　　Myriad: How high will Bitcoin go？ Click to make your prediction.　　Warsh marked his 100th day in the job by declining to give markets any fresh guidance, but the tone was enough to move prices. In his keynote, Warsh set a standard for himself: the Fed needs to see inflation moving toward its target clearly and at sufficient speed before declaring the job done. Short of that, he said, the central bank still

08-29Industry

Lazarus Group resurfaces with $19.4M Bitcoin move

North Korea-linked Lazarus Group has transferred 244.148 Bitcoin worth about $19.42 million, bringing fresh attention to wallets associated with one of the crypto industrys most active hacking operations.　　Lazarus Group moves 244 BTC between wallets　　Lookonchain reported the transfer in an Aug. 28 X post, saying wallets attributed to Lazarus Group had become active again and moved 244.148 BTC about an hour before its alert.　　Bitcoin traded at roughly $79,500 when the analytics account published its estimate, placing the transactions value at $19.42 million. Lookonchain did not identify the receiving address in the text of the post or say whether the Bitcoin moved to an exchange, mixer, or another wallet controlled by the group.　　Without a disclosed destination, the transaction alone does not show that Lazarus sold or attempted to cash out the Bitcoin. Public blockchain records confirm when funds move between addresses, but connecting those addresses to an organization usually depends on labels and analysis supplied by investigators or blockchain intelligence firms.　　The Aug. 28 transaction followed another large Bitcoin movement attributed to the group earlier in the month. On Aug. 12, Lookonchain said Lazarus transferred 262.2 BTC, then valued at approximately $16.64 million, from an identified wallet to a newly created address.　　At the

08-29Industry

Irish drug dealers lost wallet moves $39.56M in Bitcoin

A Bitcoin wallet linked to convicted Irish drug dealer Clifton Collins has transferred 500 BTC worth about $39.56 million to Coinbase Prime after the coins were reportedly inaccessible because their private keys had been lost.　　Collins-linked Bitcoin has moved to Coinbase Prime　　Lookonchain said in an Aug. 28 X post that Bitcoin connected to Collins was “moving again,” with 500 BTC reaching Coinbase Prime. The blockchain tracker valued the transaction at $39.56 million when it reported the transfer.　　At the stated value, each Bitcoin was worth about $79,120. Lookonchain associated the transfer with a group of wallets that once held approximately 6,000 BTC and were thought to be inaccessible after their private keys disappeared.　　The blockchain data identifies movements between labeled addresses, but Lookonchain did not provide evidence that Collins personally controlled the sending wallet or directed the transaction. Irish authorities had already gained access to several wallets in the same group, making it possible that the latest activity involved seized assets under official control.　　Coinbase Prime serves institutions, companies, and government agencies through custody and trade execution services. Although Bitcoin sent to the platform could be sold, the deposit alone does not show whether the coins were liquidated, placed in custody, or moved as

08-29Industry

HyENA shuts down after processing $4B in trades

HyENA has announced plans to close every market between Aug. 31 and Sept. 2 after processing more than $4 billion in trades for over 12,000 users.　　SummaryHyENA will remove one market each hour from Aug. 31 through Sept. 2.Open positions will settle automatically, while margin will return to users spot balances.HLPe depositors can redeem their holdings and earned rewards through Upshift at a 1:1 rate.HyENA generated nearly 2.5 million USDe in rewards but will not issue a token.　　HyENA will remove markets over three days　　HyENA said in an Aug. 28 shutdown announcement that it would stop operating after changes in Hyperliquids stablecoin setup reduced the opportunity for USDe-backed margin products.　　The platform will begin delisting markets on Aug. 31 and complete the process on Sept. 2. Rather than closing every contract at once, HyENA will remove one market per hour throughout the scheduled period.　　Users do not have to close their positions manually before each delisting, according to the announcement. Once a market is removed, its mark price will move toward the one-hour weighted average of the relevant oracle price before the remaining positions settle automatically.　　You might also like:　　Hyperliquid Strategies doubles HYPE holdings to 29.3M　　Margin released through that process will return to each traders

08-29Industry

Solana validators approve proposal to accelerate SOL disinflation

Solana validators have approved a proposal to double the networks annual disinflation rate, reducing future SOL issuance.　　According to finalized voting results, the proposal received 67% support, with 25.16% voting against and 7.84% abstaining. Overall participation reached 60.7% of eligible stake.　　The proposal, known as SGP-0002 or Double Disinflation, increases Solana‘s annual disinflation rate from 15% to 30%, while leaving the network’s long-term inflation target of 1.5% unchanged.　　Under the new schedule, Solana is expected to reach its 1.5% terminal inflation rate in about 2.8 years, compared with roughly 5.7 years under the previous schedule, Solana Compass reported. The change would result in an estimated 18.9 million fewer SOL being issued over the next six years, reducing dilution for SOL holders but also lowering staking rewards for validators and delegators.　　SGP-0002 passed with 67% support and 60.7% participation. Source: Solana Governance　　The vote was part of Solanas first binding governance process, which also approved a proposed Solana Constitution while rejecting a separate proposal on resource and inclusion fees.　　Some of the largest participants were divided over SGP-0002. Figment, the largest voter shown in finalized governance data with 17.1 million SOL staked, voted entirely against the measure, while Helius and Jupiter overwhelmingly backed it.　　Kraken was among those

08-29Industry

Avici attack drains over $1M from Solana users

An ongoing attack against Solana-based crypto card platform Avici has reportedly drained more than $1 million from user collateral accounts while sending its AVICI token to an all-time low.　　SummaryThe suspected attacker held 10,005 SOL and about $11,600 in stablecoins at one checkpoint.On-chain records showed repeated calls that added an administrator before collateral withdrawals.Avici acknowledged a card balance withdrawal issue but did not confirm the reported loss.AVICI fell 49.4% within 24 hours and touched a record low of $0.2175.　　Avici attacker adds administrators before withdrawals　　According to reports, the suspected attacker had collected 10,005.03 SOL, worth about $1.07 million at 18:58 UTC, along with approximately $11,600 in USDC and USDT. Its analysis was based on Solana transaction logs and RPC data gathered while the attack was still underway.　　The wallet received its initial funding through deBridge at 13:40 UTC, when 1.79 SOL arrived from another network. After remaining inactive for about three hours, the address made its first call involving Avicis programs at 16:49:48 UTC.　　Transaction logs reviewed by the publication showed the same three-step process across affected accounts. First, the wallet called SubmitSignatures through Avici‘s authorization program in a transaction that also used Solana’s Ed25519 signature verification program.　　You might also like:　　CCC exploit drains $117K

08-29Industry

Meta Tests Robots to Handle Data Center Work

In briefMeta is testing robots that can swap cables, restart servers, and inspect equipment.Some workers fear the machines will reduce staffing or shift technical work to lower-paid roles.The robots remain slow and require human assistance.　　Meta is testing robots to maintain the data centers powering its artificial intelligence systems, including machines that can replace networking cables, restart servers, and inspect equipment.　　According to a Friday WIRED report, Meta is testing robots from San Francisco-based Watney Robotics, Quebec-based Kinova, and Zurich-based ABB that could reduce labor costs—and potentially staffing—as its AI infrastructure expands.　　Myriad: How high will Nvidia go？ Click to make your prediction.　　One unnamed employee estimated that a successful cable-swapping robot could replace as much as 80% of the work performed in certain roles. The figure was the worker‘s estimate, not a Meta projection, and the machine cannot yet match a person’s speed.　　Robots enter the server room　　Meta is testing robots to move server racks, inspect equipment, replace cables, and restart servers. However, the machines still need human supervision and struggle with obstacles, battery life, visual inspections, and dense cabling.　　Nvidia and Alibaba are also developing systems to improve robot training. In June, Alibaba unveiled its Qwen-Robot Suite, with models for navigation, object handling, and

08-29Industry

Cosmos misjudged a critical bug for 4 months before hackers stole nearly $6 million across 6 chains

A Cosmos EVM vulnerability exploited across six networks, including MANTRA, exposed a security gap spanning around 40 blockchains.　　Related Asset Cosmos #64 ATOM · $1.48 24-hour change: down 3.09% Price history is not available. 24H Down 3.09% 7D Down 4.58% 30D Up 15.86%　　On Aug. 28, Cosmos Labs said the same accounting flaw was exploited on six networks, including MANTRA, TAC, and KiiChain, before an emergency response spread across the broader Cosmos EVM ecosystem.　　Attackers converted about $2.87 million through decentralized exchanges and an estimated $2.85 million through centralized venues, according to a Cosmos security postmortem. Accounts connected to the centralized-exchange activity have since been frozen.　　MANTRA suffered the largest publicly detailed hit. An unprivileged wallet moved about 720.9 million tokens from two addresses that had not authorized the Aug. 20 transactions, without compromising validator, administrator, governance, or multisig keys.　　Related Asset MANTRA OM · $0.00595 24-hour change: down 2.31%　　The vulnerability affected the broader Cosmos/EVM ecosystem, which is a shared software layer that gives Cosmos SDK chains Ethereum-compatible functionality. After the attacks began, Cosmos Labs contacted 40 networks and said 13 other potentially exposed chains patched, halted, or applied mitigations before they were exploited.　　Related Asset Ethereum ETH · $2,431.03 24-hour change: down 2.77%　　The response also

08-29Industry

Solana Governance Approves Faster Reduction in SOL Issuance

08-29Industry

Hyperliquid Unlock: $1.2B In HYPE Releases, Half To Insiders

Quick Take　　1.Hyperliquid releases 14,175,778 HYPE on August 29, worth roughly $1.2 billion, its largest monthly unlock since the November 2024 launch and about 1.4% of total supply.　　2.Insiders and early investors receive 46.6% of the release, against 46.3% to the community and 7% to the Hyper Foundation, a split that differs materially from the August 6 unlock this site covered.　　3.HYPE trades at $81.95, down 3.28% on the day but still 8.33% higher on the week, having set a record above $83 earlier this week.　　Hyperliquids largest scheduled token release arrives on August 29, three days after HYPE reached an all-time high. The event puts 14,175,778 tokens into circulation, roughly $1.2 billion at current prices, and the destination of those tokens matters more than the headline figure.　　HYPE trades at $81.95, down 3.28% over 24 hours, per CoinGecko. The broader market is soft, with 87 of the QC 100 constituents declining and total crypto capitalization at $2.64 trillion.　　Discover more　　Compare Index ETFs　　NEWS　　Track Market Trends　　How big is the August 29 Hyperliquid unlock？　　14,175,778 HYPE, about 1.4% of the one billion total supply and roughly 2.7% of current market capitalization, worth approximately $1.2 billion.　　That is the largest of Hyperliquids monthly releases since the token launched in November 2024.

08-29Industry