Category: crypto

XRP Ledger developers retired five long-active protocol amendments in xrpld version 3.3.0, making their post-activation behavior permanent within the core protocol. This retirement does not remove their features or require XRP holders to take any action. Six new amendments were added, requiring validator approval before Mainnet activation. Node operators are advised to upgrade promptly.

Bitcoin’s BIP-110 split widened on Aug. 9 as the enforcing branch was unable to produce a third block hours after signaling began. The branch remains frozen at block 961,633 while the main chain has advanced to block 961,744. Only 2.53% of blocks signaled for the proposal in the last difficulty period.

Galaxy Research Vice President Lucas Tcheyan discussed how Ethereum and Solana are considering changes to their token issuance to pay for network security. Ethereum’s proposal would taper rewards based on staking ratio, while Solana is looking to double disinflation. Both networks are still in the proposal stage, with no final decisions made yet.

Bybit’s efforts to recover assets from the $1.5 billion February 2025 hack have progressed in the U.S. court system. Expedited discovery has been granted, allowing Bybit to trace funds tied to the hack. A preliminary injunction has also been partially granted. Bybit has recovered $48.4 million and frozen $30.5 million across 28 exchanges globally.

Trump Media & Technology Group is stepping back from a major crypto expansion plan less than a year after announcing it. The company, along with Crypto.com and Yorkville, canceled a proposed $6.42 billion CRO treasury combination. Trump Media is now focusing on its pending TAE merger and scaling back plans for prediction markets on Truth…

IMF warns that domestic stablecoins designed to strengthen national currencies could inadvertently accelerate the adoption of digital dollar stablecoins. Nearly all stablecoins are dollar-denominated, giving them a network advantage. Regulators should focus on regulating onramps, offramps, and onchain exchanges to manage the impact of stablecoins on foreign currency demand.

Bitcoin’s BIP-110 test has led to a chain split, with miners overwhelmingly continuing to build on the existing Bitcoin chain. The proposal has failed to gain broad miner support, with only 2.6% signaling. The split widens as enforcing nodes reject non-signaling blocks, posing replay risks for holders. A proof-of-work change remains a contingency.

Brazil’s central bank has mandated a 24-hour hold on crypto transfers above $10,000 to foreign exchanges and self-custody wallets starting January 1, 2027. Providers must notify customers and maintain fraud records, with the option to release transfers early after a risk review. This rule is part of broader 2027 regulatory measures.

MARA Holdings secured $600 million in new borrowing by pledging 18,750 BTC worth about $1.2 billion as initial collateral. The loans came from Coinbase and Two Prime, with the proceeds potentially funding its planned Long Ridge acquisition. MARA’s financing strategy involves using Bitcoin reserves and managing collateral risks.

Grayscale’s Head of Research, Zach Pandl, believes that the CLARITY Act is unlikely to pass this year due to Senate calendar and election year politics. The Senate has set a procedural test for September 15. Grayscale warns that without federal legislation, new investment and development may move overseas.