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Balance stablecoin collapses 99% after $1 million exploitation drains its bitcoin vaults

Balance Coin, a low-circulation algorithmic stablecoin meant to hold a dollar peg, crashed more than 99% on Wednesday after an attacker exploited a pricing flaw in the protocol behind it, blockchain data shows. The token, which traded close to its $1 peg a day earlier, fell to around $0.0014, wiping out almost all of its […]

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Bitcoin below $66,000 as traders await Alphabet earnings to gauge AI trading

Bitcoin traded near $65,900 on Wednesday, holding just below the two-week high it hit earlier, up 1.5% on the week, per CoinDesk data. The pause matches the broader market, where a two-day rally in chip stocks stalled as traders awaited Alphabet’s results after the U.S. close. Nasdaq 100 futures fell 0.8% and South Korea’s Kospi

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AI models escaped OpenAI’s sandbox and hit Hugging Face. Crypto is where it gets dangerous

OpenAI caught the anomaly internally, while Hugging Face’s team discovered and contained it. It called the incident “unprecedented” and said extensive security measures will be put in place to prevent untoward incidents that could affect government systems or services. “We implement strict controls in the infrastructure configuration at the expense of research speed while the

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The Crypto Clarity Act is still at risk in the ethics section as Democrats balk at the Trump deal

August 7 – the fast-approaching last day before the Senate’s summer recess – is seen as a key deadline to finish the Clarity Act this year. Crypto insiders expect the bill to come to the floor as soon as early next week, which would fit with what Senate Majority Leader John Thune had previously indicated.

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Crypto lobby group TDC sues Illinois to block digital wealth tax

A crypto lobby organization has sued the state of Illinois over a last-minute tax provision inserted into the state budget last month. TDC (also known as The Digital Chamber) argued that Illinois’ Digital Asset Tax Act violated both the United States and state constitutions and is exempt from federal tax law. The lawsuit, filed Tuesday,

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Bitcoin (BTC) price rally faces real test at $68,000 as ‘summer sleep’ grips crypto, analysts say

Spot market conditions have improved after months of weakness, with US spot bitcoin ETFs switching from sustained outflows to modest inflows. Still, the report cautioned that demand has yet to fully recover, with ETF flows and purchases by corporate bitcoin finance firms such as Strategy ( STR ) remaining well below levels seen earlier this

Bitcoin (BTC) price rally faces real test at $68,000 as ‘summer sleep’ grips crypto, analysts say Read More »

Movement Labs files for chapter 11 months after token scandal

An April 2025 CoinDesk investigation found that Movement was investigating whether it had been misled into signing a market-making agreement that gave a single counterparty unusual influence over MOVE’s circulating supply. Internal documents reviewed by CoinDesk at the time showed that the arrangement allowed 66 million MOVE tokens to be sold on the market a

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The White House is pushing Senate Democrats to enter into a ‘historic’ ethics agreement on the crypto Clarity Act

“If Senate Democrats are blocking this historic legislation after the administration bent over backwards to accommodate their concerns, stakeholders should make no mistake: Democrats are blocking this legislation because they were never serious about a legislative outcome,” the White House official said. Democratic negotiators such as Senators Kirsten Gillibrand, Ruben Gallego and Angela Alsobrooks reportedly

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Bitcoin, Ether Rally on Clarity Progress Report, Asian Chip Stocks Rise: Crypto Markets Today

The crypto market has rallied on reports suggesting that the final hurdle to the long-awaited US Clarity Act may have been cleared. Eleanor Terrett, host of Crypto in America, wrote on X that President Donald Trump had accepted a crucial ethics provision for the crypto market structure bill. The specific language has been shared with

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