Crypto World
Tether Clears First Full Audit From KPMG Without Publishing the Statements
Tether said Thursday that KPMG U.S. issued an unqualified opinion on the financial statements of Tether International, S.A. de C.V. for the year ended Dec. 31, 2025, completing the first full financial statement audit in the company's history. An unqualified opinion is the cleanest verdict an… Read the full story at The Defiant
The U.S. Securities and Exchange Commission was on the verge of revealing its first major rulemaking effort in the digital assets sphere, having been set to propose its “Regulation Crypto,” but the agency cancelled the Friday meeting in an end-of-day statement on Thursday.
“Due to an unforeseen scheduling issue,” the SEC is moving the meeting to “a later date,” according to a statement from an agency spokesperson.
In the absence of progress in the Senate’s Digital Asset Market Clarity Act, the legislation that would establish a legal foundation for crypto market activity in the U.S., the industry had looked to the SEC to pick up the baton. The so-called Reg Crypto is expected to open a limited framework for issuing crypto securities without triggering agency registration requirements, and also to be able to later transition out of management of the project and, as a result, out of the SEC’s regulatory radar.
The sector will instead have to sit back again and see which branch of the government delivers first: SEC or Congress.
NBA champion Tristan Thompson says he buys Bitcoin every single day and tells teammates calling him mid-season to do the same, regardless of what the chart shows.
The Cleveland Cavaliers veteran joins a growing list of basketball figures turning into vocal crypto advocates.
The Thesis Behind Buying Every Single Day
Dollar-Cost Averaging (DCA) means buying a fixed amount of an asset at regular intervals, regardless of price, to smooth out volatility over time. Thompson describes exactly that approach.
His pitch to teammates avoids price predictions entirely. He frames the purchase as stacking digital gold, warning them that they will have to explain to their grandchildren why they hesitated at $63,000.
“Buy every day, stack it, stack your digital gold… You don’t want to be 70 and have your grandchildren say to you, Papa, you didn’t buy more Bitcoin back when it was at $63,000… If you look through the last 14 years, it has appreciated by over 60 percent annually… Name a savings account that does that. You can’t find it,” Thompson said at The Pomp Podcast.
That figure matches current conditions. Bitcoin trades near $63,390, according to BeInCrypto data, roughly 50% below its October 2025 all-time high of $126,080.
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The reasoning behind his conviction differs from most. Thompson says he does not own Bitcoin because he expects the dollar to fall, but because he expects the internet to keep winning.
His timeline traces back to 2008. That year, the global financial system cracked, and Bitcoin emerged as what he calls a “Robin Hood” figure in the pursuit of financial freedom.
Geography shapes his view, too. He considers the United States still early in adoption compared with Asia and the Middle East, where crypto payments already appear in everyday commerce.
He cites one concrete example. Emirates now accepts cryptocurrency for flight bookings. Regulation features in his outlook. Thompson pointed to the GENIUS Act and potential passage of the CLARITY Act as catalysts that could unlock substantially more institutional capital.
The Wider NBA Crypto Wave and Its Record
His advocacy extends beyond the asset itself. Thompson has taken on a financial literacy mission since shifting from playing to investing. The message to rookies is practical. He tells them to read profit-and-loss statements and understand how compounding actually works.
Thompson is far from alone in that space. Scottie Pippen has become one of the loudest voices for Bitcoin in basketball, tokenizing the 1991 NBA Finals Game 5 ball as a blockchain asset.
The six-time champion regularly posts bullish commentary. His messages range from blunt instructions to study Bitcoin to viral claims about Satoshi Nakamoto appearing in his dreams.
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Others have taken different routes. LeBron James partnered with Crypto.com on blockchain education, while Spencer Dinwiddie attempted to tokenize his own NBA contract.
The record is genuinely mixed, however. Stephen Curry, Klay Thompson, and Andre Iguodala all faced losses from crypto ventures during previous cycles.
That contrast matters for readers. Athlete endorsements have historically preceded both durable adoption stories and expensive disappointments.
Thompson’s own framing acknowledges the uncertainty. Play the long game, he says, and stop worrying about the price.
The post NBA Champion Reveals His Daily Bitcoin Habit appeared first on BeInCrypto.
Boltz has suspended its Bitcoin swap service after a series of AI-assisted attacks caused losses for the bootstrapped five-person company, with the shutdown announced on August 3 and a new group of veteran Bitcoiners now preparing to take over the project.
The episode points to a growing security problem for small open-source crypto services, where automated attackers can move faster than small teams can investigate and patch vulnerabilities.
Boltz Suspended Swap After Repeated Attacks
Boltz said attackers had targeted its infrastructure with increasing frequency, intensity, and sophistication over the past several months. Several attacks succeeded, but the company stressed that its non-custodial design kept customer funds out of reach.
“The entirety of the risk was ours,” the team said, explaining that losses from the attacks led it to suspend the service on August 3 to prevent further damage. The company also said its API remained available for cooperative refunds, while unilateral refunds continued to work without relying on Boltz infrastructure.
The decision followed a difficult period for the service. On August 1, Boltz temporarily disabled EVM swaps involving USDT, USDC, TBTC, WBTC, and RBTC while fixing a bug in its EVM integration. Lightning, Liquid, and on-chain BTC swaps were still operating at that point.
Before that, it had faced other issues, including downtime in June of its API and related services, as well as the disabling of its USDT swaps on its .onion site in April.
By August 3, however, Boltz said the problem had become broader. The team reported a “steady rise in automated, AI-assisted probing” and several exploits, followed by a sharp acceleration in attacks during the days immediately before the shutdown. After reviewing its own security scans, the company said it could not responsibly restart swaps while multiple groups appeared to be targeting its infrastructure.
Boltz later said its five-person team did not have the resources to withstand that level of pressure over the long term. The company now has a new path forward. A group of veteran Bitcoiners has provided capital and engineering resources and agreed to take over Boltz.
Work on identifying and fixing vulnerabilities has already started, although no timetable for the return of swaps was given. The incoming group has not yet been named.
All three original founders, Kilian, Michael, and Karl, have stepped down and will have no formal role in the project.
AI Is Changing Both Sides of Bitcoin Security
Boltz’s experience comes as other reports point to a wider use of AI in cryptocurrency-related security work. On August 10, a report on North Korea-linked Kimsuky said the group had established local AI environments using tools including Ollama, GPT4AI, and Msty. Investigators said the setup could help with malware development, document analysis, and other attack techniques.
A separate security campaign showed the other side of the equation. Sixteen researchers used AI-assisted methods to examine 390 Bitcoin-related open-source projects and reported 4,962 software issues, including 85 critical and 635 high-severity findings.
That contrast shows AI can help defenders examine code at a pace that would be difficult manually, but the same tools can give attackers faster ways to probe exposed systems. Boltz’s founders said they had reached the point where their team could not keep pace.
The post Non-Custodial Bitcoin Bridge Boltz Shuts Down After AI-Assisted Attacks appeared first on CryptoPotato.
SharpLink plans to stake $200 million of ETH through Lido, receiving wstETH that will be held with Anchorage Digital. Using Kraken’s displayed ETH price of $1,889.84, the dollar allocation equates to about 106,000 ETH, roughly 12% of the company’s 888,938 ETH holdings reported as of Aug. 3. The… Read the full story at The Defiant
Standard Chartered's global head of digital assets research said on Thursday that the $100 end-2030 price target he set for UNI in June may be too low, citing the rate at which Uniswap is now burning tokens with fees earned on Robinhood Chain. The burn rate Geoff Kendrick is extrapolating from is… Read the full story at The Defiant
“People are sick and tired of having to change their clocks twice a year. It is foolish, inconvenient and, in some cases, very costly,” Trump said. He went on to argue that the practice “is also bad for your health in the anxiety it creates,” and claimed that permanent Daylight Saving Time would have many benefits, including that it would “help Decrease Robbery and Murder Rates, Reduce Car Accidents (especially those involving Pedestrians!), Lower Risk for Cardiac Issues, Stroke, and Seasonal Depression, Make it Safer for Children to Walk Home from School.”
Tatiana Maksimova | Moment | Getty Images
S&P 500 companies are keeping more profit from every dollar in sales than ever before, providing another tailwind for stocks.
Using FactSet data, John Butters, senior earnings analyst and vice president at FactSet, showed that the S&P 500’s blended net profit margin is running at 16.9% for the second quarter. That’s up from 14.8% in the first quarter and 12.9% a year ago, and well above the five-year average of 12.4%.
Net profit margin is the percentage of revenue companies get to pocket after they have paid all expenses.
If that 16.9% figure holds, it would be the highest net profit margin since FactSet began tracking the metric in 2009, Butters notes.
Alphabet and Amazon are the biggest contributors to the S&P 500’s record-high net profit margin, Butters said.
Alphabet reported operating margin of 34% in the second quarter, up from 32% a year earlier. The Google parent also posted a $98 billion gain in other income, primarily from unrealized gains on equity securities. Amazon recorded other income of $53.4 billion on a net basis largely tied to its investment in Anthropic. The e-commerce and cloud giant also posted operating margin of 13.7% in the second quarter, up from 11.4% a year ago.
But the strength goes beyond these two mega caps.
Even after excluding Alphabet and Amazon, the S&P 500 margin still looks impressive at 15%, which is also a record and marks the highest net profit margin reported by the index dating back to 2009.
At sector levels, margins have been improving across most of the market.
Eight of the 11 S&P 500 sectors are reporting higher margins than they did a year ago, led by technology, communication services, consumer discretionary and energy.
Adam Schickling, a senior economist at Vanguard, told CNBC that the strong demand and operating leverage have helped companies convert more of their revenue into profit.
“Businesses, when they’re busy, are more profitable,” Schickling said. “Firms are busier, they’re more efficient, and that translates into higher margins.”
Technology companies have historically benefited from business models that can add customers or users without a proportionate increase in costs.
“Tech companies just have higher profit margins than what you might see from materials, industrials, energy,” Schickling said. “That is a sector is prone to having a higher general profit margin, especially because it has historically been relatively asset-light, which means they’re able to scale up at a very efficient rate.”
Businesses in the tech sector, however, are also experiencing a lot of competitive pressure, with many new entrants to the space, which could mean a potential risk in the future to profit margins in the technology space, Schickling said.
Kalshi, which raised $1 billion in May at a $22 billion valuation, is now the number one prediction market platform by revenue, followed by Polymarket, which was last reported to be seeking funding at $20 billion, following a $600 million investment from the Intercontinental Exchange, the owner of the New York Stock Exchange, at a $15 billion valuation in August.
Kalshi’s annualized revenue increased to $4 billion in July, bolstered mostly by 2026 World Cup betting. Polymarket’s revenue was only $1.1 billion for that same period. Sequoia Capital recently said Kalshi “now claims 95% U.S. market share in prediction markets.”
Most of Kalshi’s revenue comes from sports contracts, which contribute to over 80% of its volume. Kalshi announced Wednesday that Jeff Bandman, the lawyer who helped Kalshi secure a license to be a CFTC-regulated exchange in 2020, is returning to Kalshi as CEO of Kalshi Prime, which serves customers of Kalshi’s margin perpetual futures business.
Neither Sequoia, Wellington nor Kalshi immediately responded to a CoinDesk request for confirmation.
The appointment comes as traditional wealth managers and family offices in Asia take a growing interest in digital assets. Boston Consulting Group estimates total assets under management in the region will reach $99 trillion by 2029, with Singapore and Hong Kong among its key financial centers. Globally, roughly one-third of family offices already have exposure to cryptocurrencies, according to Goldman Sachs.
Asia growth
Asia is increasingly where crypto’s retail scale and institutional ambitions collide. APAC was the world’s fastest-growing region for onchain activity in the year through June 2025, with transaction volume surging 69% to $2.36 trillion, according to Chainalysis.
India led its global adoption rankings, while Singapore and Hong Kong are competing to establish themselves as regulated digital-asset hubs, making the region an increasingly important battleground for firms courting traditional financial institutions and wealthy investors.
“Asia’s wealthiest families and managers are increasingly investing in digital assets,” Lai said in the press release. “B2C2 has the liquidity and execution infrastructure this client base needs.”
Lai’s appointment follows a series of hires by B2C2 in Asia under APAC CEO David Rogers, including Laura Teo as Singapore country head.
B2C2 is 90% owned by Japan’s SBI Holdings, and has become part of the financial group’s broader push into digital assets.
The White House will gather cryptocurrency and prediction market executives next Wednesday, according to three people familiar with the plans. The guest list remains unsettled, and traditional finance executives could also join.
The timing matters. Regulators convene many of the same executives 24 hours later. That hands Washington two straight days of contact with the industries pushing for new federal rules.
What the White House Crypto Summit Signals
President Donald Trump has aligned his administration with digital assets since returning to office last year. His regulators have opened doors to prediction market operators as well.
Neither the attendee list nor Trump’s own participation has been confirmed, Politico reported. The White House has not commented publicly on the plans.
Prediction markets let users trade contracts on the outcome of real events. They have moved from the margins of financial regulation toward its center.
Scrutiny has followed. New York City lawmakers opened an investigation into prediction markets this week over how the platforms advertise to residents.
CFTC Panel Convenes 35 Executives a Day Later
The Commodity Futures Trading Commission (CFTC) supervises US derivatives markets. It holds the first meeting of its Innovation Advisory Committee on Aug. 20 in Washington.
Chairman Michael Selig created the panel to advise the agency on technology, law, and policy questions. Its 35 members read like a guest list for the White House itself.
They include Polymarket’s Shayne Coplan, Kalshi’s Tarek Mansour, Coinbase’s Brian Armstrong, and Ripple’s Brad Garlinghouse. Executives from CME Group, Nasdaq, DraftKings, and FanDuel also hold seats.
That roster explains why the two days carry weight. Federal courts have already backed the platforms against state restrictions. A ruling favoring Kalshi kept their contracts trading in Minnesota.
CLARITY Act Vote Looms Over Both Meetings
The Digital Asset Market CLARITY Act would rewrite how Washington polices token trading. The bill sets a firmer test for which assets count as securities. Oversight would split between the Securities and Exchange Commission (SEC) and the CFTC.
The Senate Banking Committee advanced the measure 15-9 in May. Senators then left for their August recess without holding a floor vote.
Democrats object to an ethics carve-out covering Trump’s crypto holdings. Republicans Josh Hawley and Jerry Moran oppose the stablecoin yield provisions on behalf of community banks.
Sixty votes are needed to break a filibuster. That arithmetic has left researchers rating the bill’s passage odds as slim for this year.
Lawmakers return in September, and Majority Leader John Thune has said the chamber will move early on the bill. The SEC has meanwhile started drafting its own crypto rulemaking as a fallback.
Executives will arrive in Washington with one ask above all others. Access to the administration is far easier to win than 60 Senate votes. The coming month will show whether next week’s meetings shifted either number.
The post White House Plans Crypto, Prediction Market Summit Next Week appeared first on BeInCrypto.
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