Author: John Smith
Zcash price has recovered roughly 50% from last week’s lows after a proposal for a new network upgrade sought to address concerns raised by a recently disclosed vulnerability that could have allowed the creation of counterfeit tokens. Summary ZEC price rebounded after Zooko Wilcox proposed the Ironwood upgrade to verify Zcash’s circulating supply. Ironwood follows a patched vulnerability that could have enabled unlimited counterfeit ZEC creation. Developers previously deployed emergency network upgrades, including the NU6.2 hard fork, to fix the flaw. According to Zcash founder Zooko Wilcox, the proposed Ironwood upgrade would give users a way to verify the cryptocurrency’s…
Saif Faiq has pleaded guilty to a federal conspiracy charge tied to a bitcoin-related kidnapping plot and now faces up to 20 years in prison. Summary Saif Faiq pleaded guilty to a federal conspiracy charge tied to a bitcoin-related kidnapping plot and faces up to 20 years in prison. Prosecutors said Faiq helped organize the abduction of Veer Chetal’s parents after the theft of roughly 4,100 Bitcoin. The case comes as authorities in France investigate a separate attempted kidnapping targeting the wife of The Sandbox co-founder Sebastien Borget. According to the U.S. Department of Justice, Faiq entered his guilty plea…
Aave founder Stani Kulechov has defended the decentralized lending protocol after an $8.45 billion withdrawal wave followed a major DeFi exploit earlier this year. Summary Stani Kulechov defended Aave after an $8.45 billion deposit run followed the April KelpDAO bridge exploit. Aave DAO and Kulechov provided 30,000 ETH in emergency support as the protocol faced liquidity pressure. Aave Labs is developing V4 risk controls while expanding regulated operations through FCA and MiCA approvals. Speaking at the Proof of Talk conference in Paris last week, Kulechov argued that Aave remained operational through one of the most severe stress events in decentralized…
The United Kingdom’s Financial Conduct Authority has proposed allowing authorized investment funds to allocate up to 10% of their assets to crypto exchange-traded notes, while keeping direct cryptocurrency ownership off limits. Summary FCA proposes allowing authorized UK funds to invest up to 10% of assets in crypto ETNs while keeping direct crypto ownership prohibited. Qualified investor schemes would face no crypto ETN cap, but several retail and alternative fund structures would remain excluded. The proposal follows recent UK crypto ETN reforms, including retail access and tax-efficient investment options through IF ISAs. According to the FCA’s 52nd quarterly consultation paper, the…
The U.S. House has moved closer to approving a $70 billion immigration funding package after Senate passage last week. Lawmakers could hold a final vote as early as Tuesday and send the measure to President Donald Trump. Summary The House could vote on the $70 billion immigration funding package as soon as Tuesday. The bill would fund ICE and CBP through the end of President Trump’s term. Republicans used budget reconciliation after immigration funding talks stalled in Congress. The legislation would fund Immigration and Customs Enforcement and Customs and Border Protection through the end of Trump’s term. House leaders are…
South Korean police have reportedly searched Bithumb’s offices as part of an investigation into allegations that independent lawmaker Kim Byung-gi used his political influence to help secure employment for his son at cryptocurrency companies. Summary South Korean police searched Bithumb as part of an investigation into allegations that lawmaker Kim Byung-gi sought jobs for his son at crypto firms. Authorities are examining whether Kim’s position influenced hiring decisions at Bithumb and Upbit operator Dunamu. The investigation adds to regulatory pressure on Bithumb, which is already contesting a $24.6 million AML-related penalty in court. According to a Monday report from News1,…
For most of Bitcoin’s history, the threat of quantum computers breaking its cryptography was a distant, theoretical worry, the kind of thing dismissed with “by the time that happens, we will have fixed it.” In 2026, the fixing has begun. Summary Bitcoin developers introduced BIP 360, the network’s first quantum-resistant address proposal, as part of a long-term plan to protect funds from future quantum computing threats. A companion proposal, BIP 361, would require vulnerable coins to move to new addresses and could permanently freeze inactive holdings, including coins widely believed to belong to Satoshi Nakamoto. The proposals have opened a…
While the crypto market burned through the early days of June 2026, a quieter but consequential fight was unfolding in Washington. Summary The Senate has already banned senators and staff from trading on prediction markets. House lawmakers want to add prediction-market restrictions to a broader congressional stock-trading ban. Lawmakers can possess private information and directly influence the outcomes these markets price. Polymarket and Kalshi support the restrictions as a way to strengthen market credibility. Congress is moving to ban its own members from betting on crypto prediction markets like Polymarket and Kalshi, the platforms that let users trade contracts on…
Josh Swihart has detailed Zcash’s emergency response to a vulnerability that could have enabled unlimited counterfeit ZEC creation, as the token has recovered more than 41% from its post-disclosure low. Summary Zcash deployed a soft fork and a hard fork to fix a critical Orchard vulnerability that could have enabled unlimited counterfeit ZEC creation. Josh Swihart said mining pools and exchanges reviewed the emergency code changes, with ViaBTC and Foundry helping coordinate the response. ZEC has recovered more than 41% from its June 5 low after the vulnerability was patched and Orchard transactions were restored. According to Josh Swihart, founder…
BTCTOP CEO Jiang Zhuoer has pushed back against fears that Strategy could become a major Bitcoin seller if the market falls further. Summary Jiang Zhuoer said Strategy has little reason to damage its “never selling Bitcoin” image. He argued a Bitcoin drop to $30,000 would keep Strategy’s leverage near manageable levels. The comments follow fresh concerns over STRC dividends, funding pressure, and Strategy’s Bitcoin sale. In a post on X, Jiang said he does not believe Strategy will “substantially net sell BTC.” He argued that the company still has a strong reason to protect its public image as a long-term…