Ripple minted 10 million Ripple USD on the XRP Ledger on Aug. 10, adding another large issuance transaction to its regulated stablecoin network. 

The onchain transaction was recorded by XRPScan and tracked publicly shortly after execution.

The mint arrived as separate Santiment data shared by analyst Ali Martinez showed large XRP holders adding more than 380 million tokens during the previous week. The two developments occurred around the same period, but there is no evidence that the RLUSD issuance caused the whale accumulation or that the whales were responding to Ripple’s mint.

RLUSD mint does not automatically mean $10M entered markets

Ripple’s 10 million RLUSD transaction increases the amount of stablecoins issued on XRPL, but the transaction alone does not establish that $10 million immediately entered circulation, was deployed into XRP, or represented fresh market buying. Ripple’s institutional platform allows approved customers to mint, redeem and manage RLUSD, meaning issuance can form part of treasury and settlement operations.

That distinction matters because describing the transaction as a $10 million “capital injection” into XRP would go beyond what the blockchain record proves. Ripple has not publicly identified a customer behind this specific issuance or disclosed its intended use. As crypto.news reported in recent platform launch coverage, Ripple Mint was introduced in July to give institutional customers direct tools for repeated RLUSD issuance, redemption and cross network management.

RLUSD’s wider supply remains below levels recorded earlier this summer. RWA.xyz data showed a market capitalization of about $1.53 billion on Aug. 10. Ripple had said in June that the stablecoin had reached $1.7 billion, while crypto.news later reported a retreat toward $1.52 billion after a series of token burns.

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In earlier supply contraction coverage, RLUSD had fallen roughly 20% from a late May peak near $1.9 billion after Ripple removed tokens from circulation. Monday’s mint therefore comes against a backdrop of active issuance and redemption rather than uninterrupted supply growth.

XRP whales reportedly accumulated 380M tokens

Separately, Martinez shared Santiment data showing that a large holder cohort accumulated more than 380 million XRP over seven days. The increase came while XRP repeatedly traded close to the $1 psychological level. The reported accumulation lifted attention toward whether larger holders were rebuilding positions after months of weak price performance.

3/5 Whales appear to be positioning for that possibility.

Over the past week, large holders have accumulated more than 380 million XRP, an encouraging sign of conviction at current levels. pic.twitter.com/SRtgOiI2gh

— Ali Charts (@alicharts) August 9, 2026

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However, describing those wallets as actively “defending” $1 remains an interpretation rather than an onchain fact. The data show a change in balances attributed to large holders; they do not establish the holders’ motivation or prove coordinated support for a particular price. Martinez described the activity as an “encouraging sign of conviction,” but that remains his assessment.

The latest increase is considerably larger than the 70 million XRP accumulated by whales during one July week. As crypto.news reported in previous large holder coverage, those purchases coincided with declining XRP balances on Binance and a rebound above $1.11 at the time.

XRP price has yet to confirm a breakout

Despite the reported whale buying, XRP had not produced a strong immediate breakout by Aug. 10. Current market data placed the token around $1.03, down roughly 0.4% over 24 hours and 2.8% over seven days. Its intraday range was approximately $1.03 to $1.05.

That performance means the whale accumulation and RLUSD mint should not be presented as confirmed bullish catalysts for XRP. Ripple and XRP are connected through the XRP Ledger ecosystem, but RLUSD issuance does not mechanically require equivalent XRP purchases. The stablecoin can be minted and transferred independently while using XRPL infrastructure.

The latest activity also comes as Ripple continues expanding RLUSD’s institutional role. The company says the stablecoin is fully backed by segregated cash and cash equivalent reserves and redeemable one for one for U.S. dollars. New York’s Department of Financial Services continues to list RLUSD among stablecoins approved for issuance by regulated virtual currency entities.

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What happens next for RLUSD and XRP

The next point to watch is whether the newly issued RLUSD moves from treasury accounts into wider circulation and whether aggregate supply rises materially from its current level. Ripple has not announced a schedule for future minting, and individual issuance transactions can be followed by transfers, redemptions or burns depending on institutional demand.

For XRP, the more immediate test remains the $1 area and whether the reported whale accumulation translates into sustained spot demand. The token remained below levels seen during July even as institutional infrastructure around Ripple continued expanding. In related market analysis, the disconnect between Ripple’s business expansion and XRP’s weaker price performance has persisted throughout 2026.

The confirmed developments are therefore narrower than some bullish interpretations suggest: Ripple minted 10 million RLUSD on XRPL, RLUSD remains a roughly $1.5 billion stablecoin, and Santiment data shared by Martinez show a sharp rise in holdings among large XRP wallets. Whether those trends ultimately translate into stronger XRP prices remains unproven.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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Bitcoin hovered near $65,000 on Aug. 10 as veteran trader Peter Brandt leaned toward another decline, pointing to a large head and shoulders structure that broke down earlier this summer. 

Brandt said he had not entered a trade, but wrote that “if I were to bet it would be for a decline.”

The cautious view comes as the crypto tries to stabilize above its 54 day moving average while U.S. spot Bitcoin ETFs attract more than $850 million in weekly inflows. That leaves the market caught between improving institutional demand and a technical structure that has not yet cleared resistance around $67,260.

Bitcoin indicators show a weak trend below $67,260

On the supplied BTC/USD daily chart, BTC was trading near $65,021 and remained slightly above its 54 day simple moving average near $64,352. Holding above that average points to stabilization following the June selloff, but price is still below the marked $67,260 resistance area.

The lower indicators reinforce the lack of a strong directional move. Average True Range stood near 1,672, showing that daily price ranges remain relatively wide, while the Average Directional Index was only about 11.16. An ADX reading this low indicates weak trend strength, which fits Bitcoin’s sideways movement after its drop toward the $58,000 to $60,000 area.

Brandt’s chart shows a head and shoulders structure built between April and June. The neckline around $75,000 has already broken, and his drawn path points toward roughly $58,000. That is a technical scenario rather than a confirmed destination. A sustained move above $67,260 would weaken the immediate bearish setup shown on his chart.

Brandt leans bearish as one large whale keeps selling

Brandt made the uncertainty clear in his Aug. 10 post. “I am not in the bet yet, but if I were to bet it would be for a decline,” he wrote. His wording matters because he is expressing a directional preference rather than announcing an active short position or guaranteeing another selloff.

Selling by at least one large holder adds another source of supply. Lookonchain reported that a whale sold another 1,019 BTC, worth about $66.4 million, and had disposed of 7,513 BTC worth roughly $486.9 million over three weeks. The activity is notable, but one tracked whale should not be treated as proof that Bitcoin whales as a group are selling.

THAILAND

Thailand introduces 0% capital gains tax on crypto

For the next few years crypto investors in Thailand won’t have to pay any capital gains taxes on sales made via platforms licensed by Thailand’s Securities and Exchange Commission. The exemption is for five years and covers the period of January 1 2025, through to December 31 2029.

The scheme aims to boost Thailand’s attractiveness as a regional crypto hub, and it’s already home to a growing community of crypto digital nomads

However trades on unlicensed or overseas exchanges will still face standard personal tax rates as high as 38%. The exemption aligns the tax treatment of crypto with capital gains from traditional securities in the country.

Thailand previously waved 7% value added tax on crypto gains in early 2024.

CHINA

Bitcoin Red Team founder turns to Chinese AI

Bitcoin Red Team founder Rob Hamilton has been forced to rely on open-source Chinese AI models after finding himself restricted from analyzing codebases by OpenAI, highlighting a growing concern that the most capable AI tools aren’t being made available to defenders. 

“It absolutely guts me as a patriotic American to have to do this, but I will be going back to using Chinese open source models to conduct my research to protect Bitcoin infrastructure,” he said. 

“Black hats will not hit these issues. The white hats will. We’ve hit a local minima in policy,” said Hamilton. “Intelligence is unrestricted for those who don’t follow rules, and those who engage in harm reduction are left on the sidelines.”

The Bitcoin Policy Institute and an alliance of blockchain firms subsequently issued a call to “frontier AI labs to establish a clear, trusted pathway for qualified open-source and digital asset defenders to access their strongest capabilities.” 

Source: Rob Hamilton

CHINA NEWS IN BRIEF

— A man in Shenzen was convicted of attempted extortion after he stole confidential R&D data from his company and then posed as an overseas hacker to demand a ransom paid in Bitcoin.

ASIA PACIFIC

APAC region sees big jump in onchain transactions year-on-year

A new report from Hashed Open Research and SCBX found that on-chain transaction volume across the Asia-Pacific region grew by 68% year-on-year, from $1.4 trillion to $2.36 trillion. It was the fastest growth of any region globally, driven mainly by countries in South East Asia.

The report found that consumers in the region had skipped straight from cash, over cards and bank transactions, and went directly to mobile payments. Digital payments now account for 60% of all payments in the region.

CLARITY Act delay gives Asian financial hubs an opening: First Digital CEO

The US Senate’s delay of a vote on crypto market structure legislation to mid-September could give Hong Kong and Singapore more time to strengthen their positions as digital asset hubs, according to First Digital founder and CEO Vincent Chok.

Chok, whose company issues the FDUSD stablecoin, said the delay could give jurisdictions with clearer regulatory frameworks an advantage in attracting capital and talent as US uncertainty weighs on institutional adoption. 

“For Asia, this delay gives regional financial hubs like Hong Kong and Singapore additional time to demonstrate that clear regulation can coexist with innovation.” 

NORTH KOREA

US court backs Bybit’s bid to trace funds from $1.5B North Korea hack

A US federal judge backed crypto exchange Bybit’s effort to trace assets stolen in the infamous $1.5 billion North Korea-linked hack in February 2025. 

According to newly revealed records, Bybit filed the lawsuit under seal on June 18 against North Korea, its Reconnaissance General Bureau, the Lazarus Group and 20 unidentified defendants. The court granted Bybit’s request for expedited discovery on June 19.

The discovery authority gives Bybit a practical route to identify alleged intermediaries and pursue a small portion of stolen assets that remains traceable, rather than relying solely on a judgment against North Korea. 

Unfortunately, Bybit told the court that 90.2% of the stolen assets had become untraceable after passing through mixers, cross-chain bridges and over-the-counter dealers. The remaining 9.8% had been traced to identifiable wallets, including 5.3% of the total, about $75.5 million, that had been frozen or recovered.

Bybit is seeking the return of the stolen assets and approximately $1.5 billion in damages.

SOUTH KOREA NEWS IN BRIEF

— Dunamu, which operates Upbit, has been selected by the National Police Agency to custody seized crypto assets for the next year after it obtained the highest technical evaluation score of 94.14 points.

JAPAN

Japan FSA asks crypto exchanges to impose withdrawal delays to fight scams

Japan’s financial regulator has asked crypto exchanges to introduce withdrawal delays and other safeguards as authorities respond to increasingly sophisticated scams involving digital assets. 

The Financial Services Agency (FSA) said it had jointly requested the measures with the National Police Agency amid growing losses among crypto exchange users and cases where funds obtained through fraudulent schemes are being transferred to exchange accounts.

The request calls on exchanges to restrict crypto withdrawals for a specified period after customers deposit fiat currency or purchase digital assets. Platforms were also asked to require users to pre-register crypto withdrawal addresses and impose a waiting period before newly added addresses can be used.

JAPAN NEWS IN BRIEF

— Tokyo Stock Exchange plans to introduce a re‑examination regime for companies that undergo a major business pivot. The TSE didn’t name digital asset treasuries but logic suggests they may well fall within the scope of the new rules.

TAIWAN

Taiwan plans Travel Rule for domestic crypto transfers from October

Taiwan’s Financial Supervisory Commission will require crypto platforms to transmit customer information on all domestic platform-to-platform transfers starting in October. 

The rules would apply regardless of value, but transfers exceeding 30,000 New Taiwan dollars (about $930) would trigger additional data requirements, including an individual sender’s date of birth and residential address, or a corporate sender’s official identification number and registered address.

Receiving VASPs would also be required to compare beneficiary information supplied by the originating platform with their own records. 

The FSC plans to extend the framework to transfers between domestic and overseas VASPs by the end of 2027.

SINGAPORE

Bitdeer increased Bitcoin mining output by nearly fivefold in Q2

Singapore headquartered Bitcoin miner Bitdeer mined 2,694 Bitcoin during the second quarter of 2026, up nearly fivefold from 565 BTC a year earlier. 

The miner closed the quarter with 150 BTC held on its balance sheet, down 90% from 1,502 BTC a year earlier, according to the company’s Q2 report published Monday.

Bitdeer liquidated its entire 943 BTC treasury in February, citing liquidity decisions rather than a shift away from its core Bitcoin mining business. 

SINGAPORE NEWS IN BRIEF

—UBS is sharpening its focus on wealthy Singapore residents. Over the past 25 years the number of Singapore residents who have between $5 million to $10 million compounded at an annual growth rate of 8 percent. In total there are 27,000 residents with between $5 million and $100 million.

HONG KONG

Binance sues RedotPay over alleged $473 million user losses: Report

Binance-affiliated companies have sued the founders of Hong Kong-based cryptocurrency payments company RedotPay, alleging it diverted more than 470,000 users from Binance Card in breach of their commercial agreement.

The plaintiffs seek nearly $473 million in damages, alleging the conduct contributed to RedotPay’s valuation as the company considers a potential initial public offering.

RedotPay said it is defending the proceedings and rejected what it described as “unfounded allegations” against the company and its co-founders. “RedotPay is strenuously defending the proceedings,” a RedotPay spokesperson told Cointelegraph, adding that it will respond through the appropriate legal process.

HONG KONG NEWS IN BRIEF

— Hong Kong police have arrested a 67-year-old woman accused of posing as a prospective tenant to scam property owners out of $510,000. She offered to pay rent in advance, then gave them a mobile phone with a genuine crypto app on it. However, the app had malware giving control over the wallet to the scammers, allowing them to steal funds once it had been funded.

VIETNAM NEWS IN BRIEF

— The Vietnam RWA Summit heard about how the country is developing groundwork for tokenizing RWAs from the securities regulator and Vietnam Blockchain Association.

— Vietnam’s central bank governor presented a draft law to the National Assembly to make crypto asset services reporting entities under the country’s anti money laundering regulations. It also highlights suspicious transaction indicators specifically tailored to crypto asset activities.

Ethereum price consolidated near $1,917 on Aug. 10 as buyers defended the $1,900 area, but weakening short-term momentum and dense liquidity near $1,950 kept ETH inside a narrow range.

Ethereum price holds above $1,900

According to data from crypto.news, Ethereum (ETH) price was trading at approximately $1,917 at the time of writing, after moving between $1,906 and $1,931 during the latest daily session.

ETH has consolidated above $1,900 since recovering from lows near $1,800 earlier in August. The move followed renewed spot demand, short liquidations and a broader risk-asset rally after weak U.S. employment data reduced expectations for another near-term Federal Reserve rate hike.

U.S. nonfarm payrolls fell by 23,000 in July, missing forecasts for an increase of around 80,000. May and June payroll figures were also revised lower by a combined 103,000.

The softer report pushed Treasury yields lower and helped the S&P 500 close at a record on Aug. 7. Ethereum benefited from the same change in risk appetite, although the weekend advance has since lost momentum.

Washington also provided a secondary sentiment boost. Senate Majority Leader John Thune filed a motion that prepares the Digital Asset Market Clarity Act for a procedural vote after the August recess. However, the filing did not represent final passage, and lawmakers still need to resolve disputes involving government ethics, stablecoin rewards and enforcement provisions.

ETH momentum weakens below $1,950

The daily chart shows Ethereum trading in the upper half of its Bollinger Bands. The middle band stands at $1,897, while the upper and lower boundaries sit at $1,953 and $1,841, respectively.

Holding above the $1,897 midpoint keeps the short-term structure tilted toward buyers. The upper band near $1,953 now forms the main technical barrier before $2,000.

The daily relative strength index stands at 56.47, slightly above its signal average of 54.47. This indicates moderate bullish momentum without placing ETH in overbought territory. However, the indicator has flattened after its latest rise, matching the sideways price action.

Shorter-term indicators show more caution. On the 4-hour chart, ETH is sitting almost directly on its 20-period simple moving average at $1,917.78. The 50- and 100-period averages are clustered at $1,894.24 and $1,894.80, creating a concentrated support area below the current price.

The 200-period average is lower at $1,870.72. ETH remains above all four averages, preserving the broader recovery structure despite the latest consolidation.

The 4-hour moving average convergence divergence indicator has weakened. Its MACD line stands at 6.17, below the signal line at 7.53, while the histogram has turned slightly negative at minus 1.36. That crossover suggests buyers are losing momentum, but it has not yet produced a confirmed trend reversal.

Liquidation clusters frame the next Ethereum move

CoinGlass’ 3-day liquidation heatmap shows ETH trading between two major leverage concentrations.

The nearest upside cluster extends from approximately $1,942 to $1,953. Liquidity is particularly dense around $1,950, making that area a possible price magnet if ETH clears its recent intraday highs near $1,930.

A move through $1,953 would also break the daily upper Bollinger Band. Bulls could then target $1,965, a resistance level identified during the previous recovery, followed by $2,000.

Crypto.news previously reported that ETH needed to defend $1,900, clear leverage around $1,925 and break $1,965 to strengthen the case for a move toward $2,000. Price has met the first two conditions temporarily, but the final breakout remains unconfirmed.

On the downside, the strongest nearby liquidation band sits around $1,895–$1,902. That cluster overlaps with the 4-hour 50- and 100-period moving averages and the daily Bollinger midpoint.

A sweep of this area could trigger leveraged long liquidations before buyers attempt another recovery. If $1,890 fails, ETH may retreat toward its 4-hour 200-period average at $1,871. The daily lower Bollinger Band at $1,841 provides the next major support.

Analysts split on the $2,000 breakout

Analyst Ted Pillows said Ethereum was “holding strongly above the $1,900 level” and identified $2,000 as the next upside target. His chart places intermediate resistance near $1,965, followed by $2,030 and $2,100 if momentum accelerates.

The bearish scenario begins if ETH loses the $1,900–$1,850 support region. Pillows’ chart points to deeper downside levels near $1,700 and $1,500 if the recovery structure breaks.

Revolut has secured a full banking licence in France, creating its second banking entity in the European Union as the fintech prepares to move more than 30 million Western European customers onto a Paris-based operation.

The European Central Bank’s Governing Council approved the licence following a joint review with France’s Autorité de Contrôle Prudentiel et de Résolution, according to Revolut, allowing Revolut Bank S.A. to operate alongside the company’s existing Lithuanian banking entity.

The French operation will initially serve customers in France before Revolut progressively moves Germany, Ireland, Italy, Portugal and Spain onto the new entity. Lithuania will continue serving customers across the remaining European Economic Area markets.

Revolut founder and CEO Nik Storonsky said the licence gives the company a base from which to serve more than 30 million customers across Western Europe. He described France as an important financial hub for the company’s next stage of banking expansion.

Revolut banking licence opens access to lending in France

Until now, Revolut served its French customers through its Lithuanian banking operation, which allowed the company to provide services across the European Economic Area.

Under the French licence, Revolut can build out locally regulated banking products including loans, mortgages and regulated savings accounts. Products similar to France’s Livret A savings accounts could also become part of its local offering.

The change comes after several years of customer growth in what has become Revolut’s largest Western European market. The company had more than seven million customers in France by early 2026, an increase of about 2.5 million from 2025, and has set a target of reaching 10 million customers by 2027.

Revolut has also committed more than €1 billion to its French operations and hired over 600 employees in the region. A new Western European headquarters is scheduled to open in Paris in 2027 as the company transfers more of its regional operations to the French entity.

Béatrice Cossa-Dumurgier, Revolut’s CEO for Western Europe, said the company will begin with French customers before moving into other Western European markets. Product localisation for retail and business customers will form part of the rollout, she added.

The licence follows a lengthy regulatory process. In October 2025, Cossa-Dumurgier told Euronews that Revolut was not rushing the application because it could already serve customers in France through Lithuania. By April, she said the company expected a decision during 2026.

Frédéric Oudéa, the former Société Générale CEO who now chairs Revolut Western Europe’s board, said the approval followed work on the company’s governance, regulatory and compliance standards and engagement with French and European regulators.

ECB conditions could limit the initial product rollout

While the licence creates room for Revolut to add lending and savings products, regulatory conditions could determine how quickly some services become available.

Bloomberg reported in July that the French banking operation was expected to face restrictions similar to measures previously placed on Revolut’s Lithuanian entity. The report, citing people familiar with the matter, said some of the conditions imposed by the ECB on the Lithuanian business last year were likely to apply to the French unit as well.

Revolut has not disclosed the conditions attached to the French approval.

Any restrictions on new products could affect the timing of services such as mortgages and regulated savings accounts. The company has historically generated a large share of its earnings from payments, fees, wealth products and crypto trading rather than conventional lending.

Its 2025 results showed how that business has developed before the French banking expansion. Revolut reported $6 billion in group revenue, up 46% from $4 billion a year earlier, while profit before tax increased 57% to $2.3 billion.

Net profit reached $1.7 billion, and the company reported a 38% pre-tax profit margin. Revolut ended the year with 68.3 million retail customers after adding 16 million during 2025, while customer balances reached $67.5 billion and transaction volume climbed 65% to $1.7 trillion.

Wealth revenue, which includes investment and crypto-related activity, increased 31% to $876 million during the year.

Banking approvals extend beyond the European Union

The French licence adds to several regulatory approvals Revolut has secured or pursued during 2026.

In March, the company received its full U.K. banking licence after spending about three years working through the regulatory process. The approval expanded Revolut’s ability to provide deposits, credit and lending products in its home market.

Around the same period, Revolut applied to the Office of the Comptroller of the Currency for a U.S. national bank charter after abandoning an earlier plan to acquire an American lender.

Reuters reported in June, citing Revolut U.S. CEO Cetin Duransoy, that the company plans to launch a U.S. bank in 2027 if it receives regulatory approval. The proposed operation would be based in Stamford, Connecticut, with an additional office in New York.

Under the plan described to Reuters, Revolut would offer FDIC-insured checking accounts alongside high-yield investment accounts, multi-currency deposits, stock trading, crypto trading and stablecoin services. Rather than operating physical branches, the company plans to give customers access through existing ATM networks.

Revolut had about one million U.S. customers when Reuters reported on the plans, many of whom had previously used its services while travelling or living outside the country.

The fintech also received a full Australian banking licence in July, extending its regulated banking operations into the Asia-Pacific region.

Crypto licences remain part of Revolut’s regulatory expansion

Alongside its banking licences, Revolut has continued seeking separate regulatory approvals for its digital asset business.

Dubai’s Virtual Assets Regulatory Authority granted the company in-principle approval in July to move toward offering regulated virtual asset services in the United Arab Emirates. Final authorization would allow eligible customers to buy, sell and hold cryptocurrencies through Revolut’s main app and Revolut X, its dedicated crypto trading platform.

The proposed UAE licence covers virtual asset broker-dealer, exchange, management and investment services. Revolut had previously received approval from the Central Bank of the UAE for its payments business.

Within Europe, the company secured a Markets in Crypto-Assets licence in Cyprus in October 2025, providing a regulatory route for crypto services across eligible EU jurisdictions.

Revolut has also changed parts of its digital asset offering as MiCA requirements have taken effect. In July, it said notified customers in eligible European markets would have until Aug. 31 to sell or transfer Tether’s USDT before the stablecoin was removed from their supported accounts.

Tether has not received authorization under MiCA, while CEO Paolo Ardoino has publicly criticized parts of the framework governing stablecoin reserves.

Revolut’s valuation has climbed to $115 billion

The regulatory approvals have come during another increase in Revolut’s private-market valuation.

A secondary share sale reported by The Wall Street Journal in July priced Revolut stock at $2,017 per share, valuing the company at $115 billion. Existing employees and shareholders were able to sell shares through the transaction, meaning the deal did not provide fresh capital to Revolut.

The valuation was about 53% above the $75 billion level established through a 2025 share sale and more than twice its $45 billion valuation in 2024.

Revolut has said it now serves more than 75 million customers worldwide and operates across 40 markets. Storonsky has previously said the company does not plan to pursue an initial public offering before 2028.

The company is also preparing its physical operations for the new European structure. France will become the first market transferred to Revolut Bank S.A., with Germany, Ireland, Italy, Portugal and Spain scheduled to follow, while the Lithuanian entity will continue covering the rest of the EEA under supervision from the ECB and Lithuania’s national authorities.

It was still dark and quiet at 5:30 am in the morning on Sunday August 2^nd , 2026 when CBS New’s truck arrived with John Elliott the award winning meteorologist and his team  to broadcast live for three hours the upcoming week’s weather forecast from the National Lighthouse Museum on Staten Island (NLM).  The forecast would be somewhat similar to the severe environmental crises NY experienced in mid-2023, featuring hazardous Canadian wildfire smoke turning skies orange, followed closely by catastrophic, record-shattering torrential rain and flash floods in July 2023 that prompted a federal disaster declaration.

For three hours talented John Elliott hosted a live television feature for CBS News from the NLM, where he interviewed the museum’s Executive Director, Linda Dianto, Chairman of the Board Captain Joseph Ahlstrom, curator Stevie Peters, intern Daniel Wills, Treasurer Eleanor Dugan, Esq and artist of Ocean Lovers – Angel Fish Flag CCL Selva Ozelli, Esq, CPA.

Mr. Elliott skillfully weaved into his weather forecast impacted by Canadian wildfire smoke which caused hazardous flash flood conditions in New York, with the rich maritime history of the site, which originally served as the U.S. Lighthouse Service General Depot from 1864 to 1939—effectively the central hub where all American lighthouses were designed and supplied. Satellite-based systems like GPS largely replaced physical lighthouses as the primary tool for marine navigation, giving rise to NLM’s ongoing mission to preserve the technical and social history of American light stations.

His segment showcased various museum artifacts, including a 1920s French foghorn, a newly donated gas-powered weather signal buoy, Fresnel lights and the museum’s famous “Wall of Lights” which features over 160 miniature lighthouse models. 

He spotlighted the Statue of Liberty Art Show currently being hosted at the museum to celebrate the country’s upcoming milestones, highlighting the Statue of Liberty’s history as an operational lighthouse featuring art work by esteemed artists Hunt Slonem and Selva Ozelli and a historic Statue of  Liberty photo of when she first arrived in New York.

Mr. Elliott noted structural updates surrounding the NLM property, including a promenade under construction to repair damage originally caused by Hurricane Sandy and ongoing damage by torrential floods some which were helped along  by the Canadian wildfire smoke which significantly impacted New York in 2023 and 2026, bringing widespread haze and dangerous air pollution, followed by torrential rain and flash floods to the state.

Moratorium on Hyperscale Data Centers in NY

Intense smoke and hazardous air quality choked New York City and the surrounding Northeast region throughout July 2026 originating from massive, uncontrolled wildfires burning in Canada, in tandem with the apocalyptic  wildfires in Europe which began escalating sharply in early July 2026, heavily impacting France, Spain, Portugal, Italy, Scottish Highlands and Greece forcing over 330,000 evacuations.    The widespread haze and dangerous air pollution was  followed by torrential rain and flash floods to the state as accurately forecasted by Mr. Elliot throughout July and August.

Some good news arrived on July 14^th, 2026 when Governor Kathy Hochul signed an executive order New York State Governor Official Website halting state agencies from issuing discretionary permits to new hyperscale data centers (drawing 50 megawatts or more of power) for up to one year to study their environmental and grid impacts.   

Hyperscale data centers require massive resource inputs, typically drawing 100 megawatts (MW) or more of electrical power and consuming 1 million to 5 million gallons of water per day for cooling and operations. The United States is the  leader in data center hosting, commanding over 40% of the world’s facilities [over 5,000 facilities as of 2026], driven by a head start by US tech giants such as such as Amazon Web Services (AWS), Microsoft Azure, Oracle and Google Cloud, which made high-volume investment in AI. 

Recent reports and state data show that New York ranks 12^th in the U.S. building data center hubs with roughly 50 massive data centers currently operating, 3 under construction and over 72 additional hyperscale projects actively stalled or proposed in NYS’s power queue.  The pause targets massive energy and water demands, aiming to protect NY’s power grid.  

Ranked: The U.S. States Building the Most Data Centers

Data Center Moratoriums  National Conference of State Legislatures

New York is the first and the only U.S. state to enact a full, statewide moratorium on large data center construction as NY is one of three states that enacted a constitutional green amendment to its state constitution to ensure environmental rights environment as a basic civil liberty —like clean air, pure water, and a stable climate. These rights can require government officials like Governor Kathy Hochul to prioritize environmental protections in energy policy, with courts playing an important role in enforcing environmental rights.  As they are recognized and protected at a fundamental level, setting a legal foundation for environmental protection, often allowing citizens to sue for environmental harm and hold the government accountable for preserving natural resources.  While no other state in the U.S. has implemented a statewide ban, dozens of state legislatures and municipalities across the country have introduced or passed temporary bans and restrictions.  

Are Space Solarized Orbital Data Centers (ODC) the Future?

Space solarized orbital data centers (ODC) present a trade-off to terrestrial data centers as they eliminate land and water use by using solar power and space vacuum cooling, but they risk severe upper-atmosphere pollution from space junk, rocket launches and satellite re-entries.  Elon Musk the founder and CEO of Space X has positioned ODCs as a key component of SpaceX’s future.  Musk explained that energy and water constraints on Earth are becoming the primary limiters for artificial intelligence compute scaling, making space-based data centers a “logical extension, especially with reduction in launch cost and advances in solar efficiency”.  By placing data centers in orbit, these facilities aim to harness continuous solar energy and the natural cooling of space to create a more sustainable AI computing infrastructure to convert massive amounts of electrical power into intelligence, measured in tokens.  Musk has predicted that within two to three years, the lowest-cost way to generate AI compute will be in space, bypassing terrestrial environmental impacts.  Already last year on December 10, 2025 PowerBank Corporation (Canada)  launched the inaugural  DeStarlink Genesis-1 satellite, marking Orbit AI’s (Singapore)  first step toward building its space solarized Orbital Cloud network — an architecture where AI compute, connectivity, and blockchain (Ethereum) – verified processing occur directly in low-Earth satellites.

Terrestrial Solar Power Harvesting (Space-to-Earth Energy)

The surging power demands of AI workloads have put immense strain on the domestic energy grid, forcing US technology companies to seek unconventional energy sources. Meta’s data center footprint consumed over 18,000 gigawatt-hours in 2024 alone.

Instead of putting servers in space, this approach keeps the data centers on the ground but uses  satellites in geosynchronous orbit (GEO) capture sunlight without the hindrance of weather, clouds, or nighttime, then transmit this energy to terrestrial receivers located directly at or near data center sites. This GEO positioning yields up to \(5 \times\) the energy of standard ground-based solar farms, bypassing terrestrial power grid constraints, eliminating interconnection bottlenecks, and providing instantaneous, 24/7 clean energy to highly demanding data center hubs.

Amazon Web Services (AWS)  indicated that it remains focused on terrestrial data center expansion and has entered a partnership with Orbital Materials to focus on terrestrial data center infrastructure. The collaboration utilizes artificial intelligence to design and test new synthetic materials aimed at making traditional data centers more sustainable through targeted carbon removal and optimized cooling systems.

Meanwhile, with a first-of-its-kind commercial agreement, Space-based solar power (SBSP) in GEO is transitioning from theory as explained by Dr. Paul Jaffe to commercial implementation.    Meta announced an agreement with startup Overview Energy to secure up to 1 gigawatt (GW) of space-based solar power capacity for its AI data centers. By beaming continuous energy via near-infrared lasers from geosynchronous orbit, the technology bypasses grid constraints by illuminating terrestrial solar farms at night to provide round-the-clock generation.

As “space solar can be beamed to receivers placed anywhere there is space for them and the receivers can be connected directly to large users, or to a local microgrid or the Grid for further distribution” explained Sanjay Vijendran Co-founder & CTO of TerraSpark.

With the Hyperscale Data Center Moratorium in Place for a Year Will New York Remain the Financial Center of the World?

Supporting AI inference and blockchain tokenization of the financial markets requires massive terrestrial data center power.  New York’s statewide moratorium on new hyperscale data centers will temporarily hinder large-scale infrastructure deployment. 

However, the SUNNY Act (Solar Up Now New York Act) is currently on Governor Kathy Hochul’s desk awaiting for her signature to legalize window solar panels for commercial and residential buildings including terrestrial data centers. The state legislature passed the bill, and NYC officials are urging her to sign it so that New York can “remain the financial center of the world by embracing change but also demanding that change uplift our people,” Hochul said at a press conference announcing the order. 

To celebrate this  good news for our future, join us at the NLM’s Gala on August 7, 2026 where Light Meets Liberty!  I have been announced as a speaker at the UN Blockchain Conference on September 16, 2026 held in Times Square, NY.

About the Author:
Selva Ozelli Esq, CPA, is an international digital asset legal expert and author of Sustainably Investing in Digital Assets Globally and an award winning artist.  Her writings are translated into 45 languages and republished in over 200 global publications.  She is recognized as an expert media/TV commentator on global AI,  digital asset regulation, tax, and technology matters.

Bitdeer has increased its Bitcoin production nearly fivefold year over year to 2,694 BTC in the second quarter of 2026, while revenue rose 47% as the miner expanded its self-mining capacity.

According to Bitdeer Technologies Group’s second-quarter report published Monday, the company generated $228.8 million in revenue, up from $155.6 million during the same period last year, while its net loss widened to $92.3 million from $62.9 million.

Self-mining generated $168.4 million of quarterly revenue as Bitdeer’s average self-mining hashrate climbed 389% year over year to 69.5 exahashes per second. The higher computing capacity helped production reach 2,694 BTC, compared with 565 BTC in the second quarter of 2025.

The revenue figure also came slightly above Wall Street expectations. Analyst estimates compiled by Yahoo Finance had placed consensus revenue at about $225 million for the quarter.

Despite producing substantially more Bitcoin, Bitdeer ended the quarter holding only 150 BTC on its balance sheet, down 90% from 1,502 BTC a year earlier. The lower treasury balance follows the company’s decision in February to liquidate all 943 BTC it held at the time.

Bitdeer said the February sale was made for liquidity purposes and did not represent a move away from Bitcoin mining, a business where the company has continued adding computing capacity, manufacturing operations and internally developed mining hardware.

Bitdeer Bitcoin production rises with self-mining capacity

The increase in quarterly production follows several months of higher output as Bitdeer deployed additional mining capacity. Its June operational update showed self-mining capacity had reached 73 EH/s, while the company produced 990 BTC during that month alone.

May production had already reached 921 BTC, representing an increase of about 370% from the same month in 2025. The two monthly figures accounted for more than 70% of the company’s second-quarter Bitcoin production.

Rather than relying only on third-party mining machines to support future expansion, Bitdeer has also continued developing its SEALMINER hardware business.

In July, the Singapore-based company announced a $36 million manufacturing facility in Sparks, Nevada, where it plans to produce key components for SEALMINER Bitcoin mining machines. Commercial production is scheduled to begin before the end of 2026.

The Nevada project received support from the administration of Gov. Joe Lombardo and local officials, including state tax incentives. CEO Catherine Guo told local media that the package included reduced qualifying sales taxes.

Unlike some of Bitdeer’s recent infrastructure investments, the Sparks facility is dedicated to Bitcoin mining equipment rather than artificial intelligence hardware. The company said the plant would allow it to manufacture more components in the United States and reduce reliance on external suppliers.

AI data centers add another revenue business for Bitdeer

While Bitdeer has continued spending on Bitcoin mining, the company has also converted parts of its power portfolio for artificial intelligence and high-performance computing workloads.

On Aug. 4, Bitdeer disclosed that its Tydal Data Center subsidiary had entered a 16-year colocation and services agreement with Volta Tydal AS covering 121 megawatts of critical IT capacity in Norway.

The contract is expected to generate approximately $4.7 billion in payments during its initial term, according to company projections. An eight-year renewal option could increase the potential contract value to about $8 billion if exercised and fully performed.

Volta plans to use the capacity for a leading AI laboratory operating NVIDIA graphics processing units, while Dell Technologies will provide technology for the project. Neither company identified the end customer.

Under the agreement, Volta will occupy 121 MW of critical IT capacity supported by about 133 MW of total power. Bitdeer said contract payments average roughly $202 per kilowatt each month during the first 16 years and will increase 3% annually, while electricity costs will be reimbursed by the tenant.

Management projects average annual revenue of $2.4 million per IT MW and a project net operating income margin of roughly 90%. Bitdeer cautioned that the figures are company projections rather than GAAP revenue or operating profit and exclude financing costs, depreciation, corporate expenses and other items.

The Tydal contract follows work started earlier this year to convert the Norwegian site into a 180 MW gross AI facility based on NVIDIA reference designs. In March, Bitdeer hired Data Center Installations AS for the conversion.

After allocating 133 MW of gross capacity to the Volta agreement, Bitdeer plans to develop two additional halls totaling 47 MW for potential AI and HPC customers during the second half of 2027.

Tydal requires about $500 million in additional investment

Securing the long-term contract does not remove the financing requirements attached to the Norwegian development.

Bitdeer estimates that completing the contracted Tydal capacity will require approximately $500 million in capital expenditure, equivalent to about $4 million per contracted IT MW. The company has said it plans to use additional debt to finance construction and other infrastructure projects.

Financial institutions have been engaged for the financing process, although Bitdeer has not disclosed expected borrowing costs, maturity dates or the final debt structure.

Volta’s contractual obligations are expected to be supported by approximately $1.3 billion in letters of credit arranged by affiliates of J.P. Morgan and another global financial institution. The credit support remains subject to customary conditions, and Bitdeer can terminate the agreement if Volta fails to meet specified milestones connected with the package.

The stated $4.7 billion contract value also depends on the agreement remaining in force for the full initial term. Volta has a no-fee termination right after ten years, while the additional eight-year extension remains optional.

Mining and AI investments continue alongside quarterly losses

Bitdeer’s higher second-quarter revenue and Bitcoin output came as the company remained unprofitable. Its $92.3 million quarterly net loss widened by nearly $30 million from the $62.9 million loss recorded a year earlier.

The result follows a $159.5 million net loss in the first quarter, when Bitdeer generated $188.9 million in revenue. At March 31, the company reported $297.7 million in cash and restricted cash and approximately $1.9 billion in borrowings.

Alongside the planned Tydal development, Bitdeer has continued operating its AI cloud business. Its June update placed AI cloud annualized run-rate revenue at about $76 million with utilization of approximately 95%.

Other publicly traded Bitcoin miners have also committed capital to computing infrastructure outside cryptocurrency mining. MARA Holdings disclosed plans in July to acquire a Texas site capable of supporting up to 2 gigawatts of AI and digital infrastructure capacity, while TeraWulf announced a 20-year data center lease with Anthropic that it said could generate roughly $19 billion over the contract period.

Bitdeer, however, has continued investing directly in its mining operations while developing the AI business. The Nevada SEALMINER facility is scheduled to enter commercial production before the end of 2026, while the remaining 47 MW planned at Tydal is being developed for potential AI and HPC customers during the second half of 2027.

Bitdeer shares rose about 1.5% in premarket trading Monday following the quarterly results, after falling approximately 15% over the previous month.

BitMine added 7,391 ETH and repurchased three million shares last week, but BMNR stock fell as its recovery ran into resistance near $18.63.

BitMine moves closer to its 5% Ethereum target

BitMine Immersion Technologies acquired another 7,391 Ethereum (ETH) over the past week, extending a run of weekly purchases that began after the company adopted its treasury strategy in June 2025.

According to an Aug. 10 company update, BitMine now holds approximately 5.81 million ETH. The position represents about 4.8% of Ethereum’s total supply and puts the company 96% of the way toward its goal of owning 5%.

The balance sheet also includes 206 Bitcoin, cash, marketable securities and investments in Eightco Holdings and Beast Industries. BitMine valued its combined crypto, cash and other holdings at approximately $11.6 billion.

The latest acquisition was smaller than the 10,399 ETH purchased during the previous week. crypto.news reported that the earlier transaction lifted BitMine’s treasury to 5.8 million ETH while the company continued buying back its own shares.

Staked ETH could generate $194 million annually

BitMine has placed 5,067,309 ETH into staking, representing about 87% of its Ethereum treasury. The company valued that position at approximately $9.8 billion based on recent market prices.

Its staking operations generated a seven-day annualized yield of 2.63%. BitMine projects approximately $194 million in annual staking rewards if that rate holds.

Staking has become central to the company’s revenue rather than serving only as an additional return on its treasury. A previous crypto.news report found that BitMine earned $45.7 million from staking and validation during its latest reported quarter, accounting for 98% of revenue.

The concentration also carries longer-term risks. BitMine’s position removes a large amount of ETH from the liquid market, but its scale leaves the treasury exposed to changes in Ethereum prices, validator yields and network issuance policy.

BitMine repurchases another three million shares

BitMine also bought back three million BMNR shares last week. Total repurchases under its $4 billion authorization have now reached 19.1 million shares since the program began in July.

Chairman Tom Lee said management continues to view the shares as undervalued. He argued that periods of ETH outperforming Bitcoin have historically been followed by BMNR outperforming ETH during the next month.

“We are disappointed that the CLARITY Act will not see a Senate vote before the August recess, but financial markets seem more focused on the recent softer inflation and jobs data.”

Lee added that lower expectations for another Federal Reserve rate increase could ease financial conditions and support crypto assets. The comments followed a weak July employment report that reduced concerns over an immediate rate hike.

BMNR stock tests resistance near $18.63

BMNR traded at $18.36 when the chart was captured on Aug. 10, down 2.44% for the session after opening at $18.75. The stock reached an intraday high of $18.86 before sellers pushed it back below nearby resistance.

BMNR price remains above an ascending support line and the 20-day simple moving average at $17.20. The 50-day average at $16.29 provides a deeper support level if the recovery loses momentum.

However, BMNR has yet to reclaim its 100-day average at $18.63. A daily close above that level could open a move toward $20, while failure to hold $17.20 would weaken the short-term recovery and expose $16.29.

The broader trend remains under pressure because BMNR trades well below its 200-day average at $24.31. Aroon Up at 92.86% shows that recent highs still favor buyers, but the rejection near the 100-day average means a sustained breakout has not yet been confirmed.

SharpLink has posted a $394.3 million second-quarter loss after falling ETH prices produced $397.1 million in unrealized losses and write-downs.

ETH write-downs outweigh revenue growth

SharpLink’s second-quarter results showed that revenue reached $11.5 million during the three months ended June 30, up from about $697,000 one year earlier.

Most of the quarterly loss came from SharpLink’s cryptocurrency holdings rather than its operating expenses. The company recorded a $321 million unrealized loss on assets measured at fair value as ETH traded lower during the quarter.

Another $76.1 million impairment applied to its LsETH and weETH positions. SharpLink said both charges were non-cash items and did not reduce the number of ETH or ETH-equivalent tokens it controlled.

The impairment still lowered the carrying value assigned to the two liquid staking tokens under U.S. generally accepted accounting principles. According to the company, that reduction cannot be reversed if the market value of LsETH or weETH later recovers.

SharpLink reported a diluted loss of $1.88 per share, compared with $4.27 per share in the same period of 2025. Its overall net loss increased from $103.4 million a year earlier, when unrealized crypto losses totaled only $2.4 million.

The latest result follows an even larger loss during the opening quarter. Crypto.news previously reported that SharpLink posted a $685.6 million Q1 loss, including $506.7 million in unrealized ETH losses and a $191.7 million impairment on LsETH.

For the first six months of 2026, SharpLink’s net loss reached $1.08 billion. Its half-year accounts included $827.7 million in unrealized crypto losses and $267.8 million in impairment charges.

Staking produces most of SharpLink’s revenue

Revenue increased by more than 15 times from the year-earlier period after SharpLink operated its ETH treasury strategy for the full quarter. The company launched the strategy on June 2, 2025, leaving less than one month of related activity in the comparable period.

Staking supplied $11.2 million of SharpLink’s $11.5 million in second-quarter revenue. Staking revenue for the first half of 2026 reached $22.7 million, making ETH yield the company’s main source of reported income.

Costs rose alongside the expanded treasury operation. Selling, general and administrative expenses increased to $9.1 million from $2.4 million a year earlier because of higher personnel, custody, insurance, legal and accounting expenses.

SharpLink’s reliance on staking revenue has also placed the company inside Ethereum’s issuance debate. CEO Joseph Chalom recently opposed a proposal that could eventually eliminate issuance-based staking rewards, arguing that native yield helps distinguish ETH from non-yielding assets such as Bitcoin.

The company had earned more than 18,000 ETH in staking rewards when Chalom discussed the proposal. A reduction in validator issuance could therefore affect SharpLink’s treasury income even if the number of tokens on its balance sheet remains unchanged.

SharpLink holds $1.4B in crypto assets

SharpLink controlled approximately 886,881 ETH and ETH equivalents as of June 30. The total consisted of 632,784 native ETH, 181,321 ETH represented by LsETH on an as-if-redeemed basis and 72,776 ETH represented by weETH.

Its crypto portfolio carried a combined value of about $1.4 billion under U.S. GAAP. Assets measured at fair value accounted for $988.8 million, while crypto assets held at cost accounted for another $369.1 million.

Total assets declined to $1.42 billion from $2.43 billion at the end of 2025, primarily because of the lower value assigned to its crypto holdings. Stockholders’ equity fell from $2.42 billion to $1.41 billion over the same period, while the accumulated deficit increased to $1.89 billion.

For U.S. investors, SharpLink’s figures show how cryptocurrency price changes can cause large swings in reported earnings without an equivalent cash loss or token sale. Its $321 million unrealized loss moved through the income statement even though the company retained the affected ETH.

Cash and cash equivalents reached $56.2 million at the end of June, up from $28.5 million on Dec. 31. SharpLink used about $7.2 million in cash for operations during the quarter, separating its actual operating cash use from the larger accounting loss attached to its crypto assets.

Share offering funds another 10,000 ETH purchase

SharpLink completed a $75 million registered direct offering on June 23, issuing 10,013,351 common shares and accompanying warrants at a combined price of $7.49. The company said the offering was priced above its net asset value.

Part of the proceeds funded the purchase of approximately 10,000 ETH at an average price of $1,611. The transaction extended the company’s return to accumulation after crypto.news reported that SharpLink resumed buying ETH following an eight-month pause.

The company also repurchased about 2.1 million common shares during the quarter at an average price of $4.70, spending roughly $10 million. Since starting the program in August 2025, SharpLink has bought back 4,071,223 shares for a combined $41.7 million.

Although the offering increased the number of outstanding shares, the repurchases removed a smaller block from public ownership. SharpLink has described both transactions as part of its effort to manage the amount of ETH attributable to each share.

The Nasdaq-listed company joined the Russell 2000 and Russell 3000 indexes during their June reconstitution, making SBET eligible for ownership by U.S. funds that track those benchmarks. Its shares closed at $6.43 on Aug. 7, gaining 2.23% during the session before the results were published.

SharpLink’s treasury had increased to approximately 888,938 ETH and ETH equivalents by Aug. 3. After the quarter ended, it also committed $100 million to the $125 million Galaxy SharpLink Onchain Yield Fund, with Galaxy contributing the remaining $25 million and serving as its investment manager.

Quantum computing is increasingly framed as a looming break in the cryptography that underpins major blockchains, but one overlooked risk is operational: an attacker may not need to hack exchanges or wallets in the usual way. Instead, a sufficiently powerful quantum computer could derive private keys directly from public data on-chain, enabling theft without triggering clear evidence of a “cryptographic break,” according to Christopher Smith, CEO and co-founder of blockchain security startup Quantus Network.

Smith’s comments highlight why so-called “Q-day” — the moment when quantum machines can realistically defeat widely used public-key systems — could look less like a dramatic breach and more like confusing, untraceable losses. Combined with rapid progress in quantum-related research and algorithmic improvements, the discussion is shifting from whether quantum attacks are possible to how quickly they may become practically actionable.

Key takeaways

• Quantum attacks may be hard to detect because compromising keys via public information could leave little or no forensic trace of “how” funds were stolen.
• Early targets might not be the most famous holdings; researchers point to high-value administrative keys and hot-wallet access as more likely first moves.
• Estimates for when quantum systems can break elliptic-curve cryptography vary widely, with uncertainty still high across industry leaders.
• Several teams are already preparing post-quantum signature migrations, reflecting a view that waiting for certainty is not an option.

Why quantum theft could evade traditional incident response

In conventional attacks, a breach often leaves clues—malware, compromised systems, exposed credentials, or unusual access patterns. Smith argues that a quantum-enabled key derivation would be different. “When someone cracks your key, you don’t get a memo saying how they did it,” he told Cointelegraph.

In his scenario, an attacker could use the public keys available on-chain to infer the corresponding private keys using quantum computation, then move funds without necessarily breaching the victim’s internal infrastructure. This creates a high-stakes detection problem: even well-run organizations might only discover the problem after funds have already been drained, while forensic teams see no “breach” in the traditional sense.

Smith described this as potentially producing a confusing outcome where “the only forensic evidence would be that there was no breach.” For investors, exchanges, custody providers, and institutional operators, that distinction matters: if incident response teams are trained to look for signs of intrusion, they may need new playbooks designed around cryptographic compromise rather than system compromise.

What attackers might go after first

The public debate around Q-day often centers on Bitcoin and the fear that dormant holdings could suddenly become vulnerable. Cointelegraph notes that Satoshi Nakamoto’s estimated holdings are often cited in the tens of billions, with one reference in the report placing the figure at $63 billion at the time of writing. Smith’s framing, however, suggests the first targets might be different and could be driven by attacker economics and operational convenience rather than symbolic value.

He argued that state-grade targets could be prioritized, pointing to “military systems and state secrets.” Within crypto specifically, he suggested that the highest-value keys might be operational or administrative rather than widely celebrated. “If I’m focusing on blockchain, what’s the single most valuable key? It’s probably Tether’s minting key,” Smith said.

His reasoning is that a quantum-capable attacker might mint tokens from an administrative wallet and sell into the market before the issuer can fully react. The report further notes that USDT is multi-chain and that some networks supporting its issuance are already working on post-quantum migration efforts.

Security researcher Sean Cheetham from Blockchain Capital added another angle: rather than aiming at the most famous cold wallets, attackers could focus on hot wallets at exchanges. In his view, those targets are more likely to avoid triggering alarm bells because their access patterns can resemble ordinary operational risk.

Smith also described an alternative tactic: a quantum-enabled theft could be disguised through plausible deniability. He suggested an attacker might present the incident as an ordinary loss of keys, using the uncertainty of how the keys were compromised to reduce the chance of immediate escalation.

How the timeline for Q-day keeps slipping and sharpening

One reason Q-day remains difficult to plan for is that timelines are unsettled. The report highlights recent developments that have compressed estimates for when quantum machines could attack elliptic-curve cryptography.

It points to a March update in which Google accelerated a post-quantum migration timeline to 2029, citing an AI-assisted breakthrough indicating elliptic curve cryptography could be cracked with fewer physical qubits than previously thought. Cointelegraph also attributes an explanation for why forecasts may have missed the mark to the parallel growth of AI-assisted approaches to quantum problem-solving.

Still, consensus is lacking. Smith, whose company is building a blockchain network intended to be quantum-resistant from launch, said there is a “50-50” chance the capability arrives by 2028, while Cheetham expects the early 2030s as “almost a certainty” and frames an earlier arrival as a trailing probability.

Michael Coates, chief information security officer at the Solana Foundation, declined to give a precise estimate during an earlier interview, saying “there’s no way to know,” while noting that industry discussions have often treated quantum timelines as “five years away” for much longer than a decade. He added that while uncertainty should temper prediction, it should not delay action.

Across these views, the common theme is not a shared date but a shared urgency: improving forecasts may be faster than compliance cycles and security migrations, so teams are trying to reduce dependency on assumptions.

Post-quantum migrations are already becoming the default security posture

Even with timeline disagreement, the report emphasizes that blockchains are not waiting for a clear verdict. It quotes NGRAVE CEO Roy Blackstone arguing that threat models have underestimated how quickly AI could advance alongside quantum technology, but regardless of exact timing, the migration work is underway.

Smith said Quantus is focused on launching a blockchain designed to be quantum-resistant from the outset, reflecting a “bake it in” approach rather than a last-minute retrofit. Blackstone similarly stressed that damage would be “catastrophic” if systems did not migrate, and that blockchains have begun shifting toward post-quantum signatures.

For market participants, this creates a different way to think about quantum risk. Instead of treating Q-day as a single future cliff, readers may need to evaluate how resilient different networks are today—particularly whether they rely heavily on legacy public-key schemes, and whether migration strategies are actively implemented across critical components.

What to watch next is less about a single predicted year and more about measurable migration progress: whether major ecosystems complete post-quantum signature adoption in a verifiable way, and whether security teams update incident response procedures to account for cryptographic compromise that may not look like a conventional breach.