Crypto World
Michael Saylor Defends Bitcoin Advocacy As MSTR Shares Face Pressure
Strategy Executive Chairman Michael Saylor has defended public Bitcoin advocacy as protected speech under United States law. He also described Bitcoin as a commodity rather than a security, while separating advocacy from illegal conduct. Meanwhile, his comments come as lawmakers continue debates over new rules for digital assets.
Saylor said Americans can discuss Bitcoin and recommend ownership without obtaining a special license. He also stressed that existing laws still prohibit fraud and market manipulation involving digital assets. Consequently, his position links public Bitcoin promotion with established rights while rejecting unlawful financial activity.
Saylor has remained a prominent Bitcoin supporter through public statements and Strategy’s corporate treasury approach. His latest comments focus on the legal status of discussing Bitcoin and recommending the asset publicly. The remarks also come amid wider debates over how regulators should oversee cryptocurrency markets.
Clarity Act Debate Continues in Washington
The comments come as lawmakers prepare for a September 15 procedural vote concerning the CLARITY Act. The legislation seeks clearer responsibilities among federal agencies overseeing digital asset markets. However, lawmakers still need to resolve several provisions before the bill can advance through the Senate.
The National Sheriffs’ Association recently changed its position on the legislation from opposition to neutral. The group had raised concerns about enforcement against illicit financial activity under the proposed framework. Senator Cynthia Lummis welcomed the shift and urged lawmakers to move the legislation forward.
Lummis has argued that the bill could give law enforcement stronger tools against illicit crypto finance. However, the September 15 vote would only advance consideration and would not establish final passage. Therefore, the Senate must complete additional steps before the legislation can become law.
Strategy Resumes Bitcoin Purchases as MSTR Shares Fall
Saylor’s comments also follow Strategy’s return to Bitcoin purchases after an extended buying pause. Strategy acquired 4,603 BTC for roughly $369.7 million, with an average purchase price of $80,318. The purchase lifted the company’s Bitcoin holdings to 845,050 BTC.
Strategy has used Bitcoin as a central part of its corporate treasury strategy for several years. The company has continued accumulating BTC despite periods of sharp price swings across cryptocurrency markets. Moreover, its purchases have kept the company closely tied to Bitcoin’s market performance.
Despite the latest acquisition, Strategy shares have faced renewed selling pressure. MSTR recently fell about 4.2% to $138.74 as Bitcoin experienced fresh volatility after United States employment data. The shares remain down about 56% over the past 12 months, despite Strategy’s continued Bitcoin accumulation.
The tokenized real-world asset market has reached $34.6 billion onchain, but only $3.79 billion has been deployed in protocols, leaving about 89% of issued value idle.
Summary
- Roughly 11% of the $34.6 billion tokenized RWA market is deployed in protocols.
- BlackRock’s BUIDL, Franklin Templeton’s BENJI and Circle’s USYC all have utilization below 1%.
- JAAA and reUSD have utilization rates above 97%, according to DeFiLlama.
- Falcon Finance examines legal claims, redemptions, liquidity, pricing, and credit quality before accepting RWA collateral.
DefiLlama data shows a sharp difference between the value of tokenized assets issued onchain and the amount being used inside decentralized finance protocols.
BlackRock’s BUIDL has a utilization rate of 0.64%, while Franklin Templeton’s BENJI stands at 0% and Circle’s USYC at 0.52%, according to the platform. Each product gives holders exposure to yield-bearing assets, but little of their issued value has moved into the protocols covered by DefiLlama’s utilization measure.
Products created for use as collateral show a different pattern. Centrifuge’s tokenized Janus Henderson Anemoy AAA CLO Fund, known as JAAA, has reached 97.97% utilization, while Re Protocol’s reUSD stands at 97.87% and Maple Finance’s SyrupUSDT at 88.84%.
Artem Tolkachev, chief RWA officer at Falcon Finance, told crypto.news that the gap cannot be understood from one utilization figure alone. In his view, analysts must first examine what the asset was created to do and then identify where holders are using it.
“Low utilization is weak utility when a product was built and priced to be borrowed against and stays flat after launch,” Tolkachev said.
“An underlying fund that is held for yield and redeems on time is doing its job at zero utilization.”
Tokenized RWA utilization requires more than one measure
Tolkachev separates utilization into two levels. At the asset level, he examines redemption speed, the party responsible for honoring redemptions, the stability of the yield, and the losses holders could face after a default.
At the use level, he looks at whether an asset is being held for yield, posted as collateral at a centralized exchange, or supplied to a DeFi protocol. Each route carries different terms and risks, he said, making protocol utilization an incomplete measure of total demand.
Assets held by custodians or supplied as margin at derivatives venues may perform an economic function without appearing in DeFi utilization data. Money market funds, for example, are commonly purchased as cash-management products rather than assets that must circulate through lending pools.
Wrappers designed specifically for DeFi require a different test, according to Tolkachev. If their main purpose is to support borrowing or other onchain activity, a low utilization rate after launch can point to weak adoption.
A similar gap has appeared at the network level. An August report found that Stellar’s RWA market had grown from about $785 million in January to more than $3 billion in July, while RWA-enabled pools on its Blend lending protocol held only slightly more than $2 million.
RedStone attributed part of the gap to the difficulty of pricing traditional assets around the clock. U.S. Treasuries, money market funds and corporate credit do not produce continuous market prices in the same way as Bitcoin or Ether, leaving lending protocols to manage stale valuations when the underlying markets are closed.
Falcon applies five tests before accepting RWA collateral
Before Falcon accepts assets such as JAAA, the JTRSY Treasury fund, or tokenized Mexican CETES, Tolkachev said its underwriting process focuses on two outcomes: how quickly the protocol can turn seized collateral into cash and how much value it could recover under stressed conditions.
The first test covers the token holder’s legal claim. Falcon examines whether the token provides a perfected claim on assets held through a bankruptcy-remote structure or merely an unsecured promise from the issuer. The review also considers what would happen to holders if the issuer failed.
Redemption terms form the second test. Some tokenized money market funds can redeem directly into a stablecoin onchain, while liquidity facilities may buy fund shares at net asset value onto their own balance sheets. Other products depend on the issuer and the timetable written into the fund documents.
“We read the documents, not the deck,” Tolkachev said. “A collateral asset you cannot exit in stress is not collateral.”
Falcon then examines secondary-market liquidity to determine whether another buyer exists or whether redemption is the only exit. A limited secondary market can slow a liquidation or force the protocol to accept a lower price when it needs to close a position.
The fourth test covers the price feed, including how the asset is valued and whether the data can resist manipulation when its underlying market is closed. Credit quality completes the review through an assessment of ratings, duration, issuer exposure, and portfolio concentration.
Falcon classifies JAAA as exposure to AAA-rated collateralized loan obligations, while JTRSY holds short-term U.S. government debt and CETES represents short-dated Mexican sovereign bills. The protocol has added JAAA and JTRSY as accepted collateral and separately integrated tokenized Mexican bills.
“If any one of those five legs fails, it does not become collateral, however attractive the yield,” Tolkachev said.
Closed markets increase liquidation risk for tokenized RWAs
DeFi loans run continuously, but the securities behind many RWA tokens trade during limited hours. Tolkachev said Falcon sets collateral factors by measuring price volatility, the time needed to sell the asset, and the period during which the protocol could be unable to transact or obtain a fresh valuation.
Structured credit and non-U.S. sovereign bills may not trade overnight or during weekends. A borrower can still approach a liquidation threshold during that period, leaving the protocol with collateral it cannot immediately sell.
To account for the mismatch, Falcon applies larger haircuts when an underlying market has long closures or limited secondary liquidity. Its liquidation thresholds also include a buffer for periods when the asset cannot be traded, while its pricing process may hold or discount a stale valuation instead of relying on a thin off-hours trade.
Weekend news creates another risk because the credit or sovereign asset may reopen at a different price. Tolkachev said Falcon adds a cushion for such gaps and sizes borrowing capacity according to what the protocol could liquidate during the asset’s most difficult trading window, rather than using its full face value.
The issue has direct relevance for tokenized U.S. Treasuries and funds holding American government securities. Although their blockchain tokens can move at any hour, reliable prices and access to the underlying Treasury market still depend on traditional trading, settlement, and redemption systems.
A June guide to RWA tokenization noted that putting an asset onchain does not alter its legal character. Token holders still depend on fund structures, custodians, transfer restrictions, and the laws governing the underlying claim.
RWA underwriting capacity remains concentrated
Few DeFi protocols accept structured credit or sovereign debt as collateral because the review requires legal, credit, and operational expertise, according to Tolkachev. Most lending protocols were built to list liquid crypto tokens with continuous exchange prices, a model that does not cover fund documents, bankruptcy claims, or issuer-managed redemptions.
Underwriting also requires protocols to create liquidation procedures for assets whose markets may be closed when a loan becomes undercollateralized. Since much of that work is specific to each product, Tolkachev said it cannot be fully automated.
Capacity has consequently gathered at a small number of venues able to complete such reviews. Pools that accept assets built for collateral use can fill quickly, even as much larger tokenized funds remain outside lending and borrowing markets.
Centrifuge offers one example of demand concentrating around an asset with a defined use. In August 2025, its total value locked crossed $1.1 billion, supported by more than $653 million in JAAA and over $392 million in its tokenized Treasury fund. At the time, JAAA was available to non-U.S. professional investors with a minimum investment of $500,000.
Tolkachev said expanding underwriting capacity would require common standards covering the legal rights attached to RWA tokens and the process for redeeming them. He also called for reliable price feeds for assets with closed-market hours and detailed disclosures covering portfolio composition, issuer exposure and concentration.
Key points:
- The US economy added 162,000 nonfarm payroll jobs in August, nearly triple economists’ consensus estimate of 56,000.
- Bitcoin sold off from $81,300 to local lows of $78,600 following the data, before recovering to $79,500.
- A rival Bitcoin fork using the Blake2b algorithm saw its first trading activity, with coins changing hands at $350 on exchange Neoxa.
Labor market beats expectations threefold
According to data released on Friday, the US economy added 162,000 nonfarm payroll jobs in August, significantly outperforming economists’ consensus expectations of roughly 56,000 jobs. In response to the announcement, Bitcoin (BTC) sold off from $81,300 to local lows of $78,600. At the time of writing it stands at $79,500.
Recent economic data carries added weight, given how divided rate outlooks remain ahead of the next Federal Open Market Committee (FOMC) meeting on Sept. 15-16. Under previous Federal Reserve chairs, expectations ahead of the FOMC were mostly well-anchored. However, the lack of forward guidance from Chair Kevin Warsh, along with potential dissenters in the committee, has resulted in added uncertainty.
After Fed Governor Christopher Waller said on Thursday that he would favor a rate pause pending upcoming inflation data, Polymarket probabilities swung to 60% in favor of a pause and 40% for a 25 basis-point interest rate hike. Friday’s labor market data however, drove the implied probabilities back to a 50/50 split.
Implied Probabilities for the Sep. 16 FOMC rate decision. Source: Polymarket
In response to the strong labor market data, US President Donald Trump leveled new rate-cut demands. “The Fed Board, with its great new leader, must get smart – BE PATRIOTS for a change,” he stated in a Truth Social post and continued: “High interest rates put the U.S.A. at a very unfair disadvantage, and I won’t allow that to happen!”
Trump had frequently criticized former Chair Jerome Powell for not cutting rates, but had held back from making similar statements toward Warsh until Friday.
Blake2b version of Bitcoin attracts first liquidity
When the BIP-110 soft fork activated on Aug. 7, the Bitcoin network briefly split into two competing chains: one enforcing BIP-110’s new rules and another continuing under the existing rules. The BIP-110 side largely stalled because miners did not devote enough computing power to extending that chain.
BIP-110 supporters viewed miners’ refusal to follow the user-activated soft fork (UASF) as evidence that Bitcoin’s mining layer has become too centralized. That criticism was sharpened by the absence of an organized counter-effort from the Bitcoin Core side, such as a user-rejected soft fork (URSF). Only five mining pools control the vast majority of Bitcoin’s hashrate, concentrating significant influence over which chain is extended and which transactions are included in blocks.
Bitcoin Network Hashrate Distribution. Source: Blockchain.com
In response, a subset of BIP-110 supporters, led by LukeDashjr, decided to continue the BIP-110 chain with a change in the proof-of-work algorithm to Blake2b to allow for a new, more decentralized set of miners to emerge using DATUM gateway technology. The corresponding hard fork was initiated on Aug. 30. Every address that held SHA-256 Bitcoin before Aug. 7 (and possibly after) will hold an equivalent amount on the Blake2b version of Bitcoin. So far, the only exchange listing Blake2b Bitcoin is Neoxa. While liquidity remains thin, Blake2b coins are currently trading at $350 against USDC with a 1.1% spread.
BTCB2/USDC orderbook. Source: Neoxa Exchange
Related: Crypto Biz: AI took a back seat when Bitcoin started climbing
Robinhood Chain stopped producing new blocks on Friday, leaving transactions stalled for at least 14 minutes. Robinhood has disclosed neither the cause of the outage nor an estimated recovery time.
The network normally settles a block every tenth of a second. At that pace, a 14-minute stall accounts for roughly 8,400 blocks that were never produced.
What the Explorer Showed
The chain’s tip sat several minutes old while the network kept accepting nothing new. Pending transactions read zero across the preceding half hour.
Traffic into the stall had been heavy. Blockscout put the prior 24 hours at 14.14 million transactions, on an average fee of $0.48.
Robinhood Markets (HOOD) runs no public status page for the chain. That leaves block explorers as the only live window onto whether it is running.
Why a Single Sequencer Matters
Robinhood launched the chain’s mainnet on July 1, built on Arbitrum’s Nitro software. Every block carries one poster address, a vanity string spelling the word sequencer in hexadecimal.
That design means one operator orders all traffic. When it stops, users have no second sequencer to fall back on and no way to force their transactions through.
L2BEAT, which grades Layer 2 decentralization, ranks Robinhood Chain below Stage 0, its lowest tier. The tracker flags that single sequencer and instant contract upgrades. Only two whitelisted actors can dispute invalid states.
Those trade-offs carry more weight now. L2BEAT values assets on the chain at $2.46 billion.
BeInCrypto reported earlier this week that the chain set a decentralized exchange (DEX) record. That record daily DEX volume topped $1.06 billion, driven by meme coins rather than tokenized stocks.
Fee income from that traffic has spilled into the wider Arbitrum ecosystem, lifting both Uniswap’s revenue base and ARB itself.
A brokerage that halts trading owes its customers an explanation. Whether Robinhood treats a chain outage the same way is the open question.
The post Robinhood Chain Briefly Stops Producing Blocks. What Happened? appeared first on BeInCrypto.
Mexican billionaire Ricardo Salinas Pliego renewed his long-term Bitcoin thesis this week, pointing to gold’s total market value as the benchmark that could eventually send BTC toward $1.86 million per coin.
In a post on X, the Grupo Salinas founder argued that reaching parity with gold’s market capitalization would require exactly that price. He also mentioned that Bitcoin’s adoption curve is still very early.
Salinas Pliego’s Long-Running Gold Comparison
This is not a new theme for Salinas. Back in October 2025, after gold became the first asset to reach a $30 trillion market cap, he predicted Bitcoin would need to rise at least 14 times, to around $1.516 million, just to match gold’s valuation before continuing to outperform it.
“If bitcoin were to achieve parity with gold market value, it would have to go up in price to $1.86 million per bitcoin. BTC = $1,860,000 USD It is still very early,” Salinas Pliego said on X.
Follow us on X to get the latest news as it happens.
He has consistently framed Bitcoin as superior digital gold: more portable, harder to manipulate, and free from the physical storage and verification issues that come with the metal.
Salinas holds the majority of his liquid portfolio in Bitcoin-related assets, often citing 70%-80%, with the remainder split between gold and mining stocks. He views both as hedges against fiat debasement, while explicitly preferring Bitcoin’s scarcity and digital properties.
The comparison lands amid rising institutional interest in hard assets generally. Bitcoin’s correlation with gold recently reached a six-year high, according to Bitwise research, as investors seek protection from currency debasement and fiscal stimulus, a pattern echoing what followed 2020-era pandemic policy responses.
Analysts tie the move to fiscal arithmetic rather than yield curves or rate expectations, noting that every major advanced economy except Switzerland now carries a debt-to-GDP ratio above 100%.
Other Prominent Voices Echo a Similar Thesis
Salinas is far from alone in drawing this comparison. Michael Saylor has repeatedly called Bitcoin digital capital, arguing it is superior to what he calls analog gold in terms of transparency and performance metrics.
Analyst Willy Woo has projected multi-million-dollar Bitcoin prices if the asset captures a meaningful share of gold’s monetary role or broader global wealth storage.
Other market commentators discussing market-cap parity note that even a $1 million Bitcoin would still represent only a fraction of gold’s total valuation, reinforcing the same early-stage narrative.
As of this writing on September 4, Bitcoin trades near $79,450, according to BeInCrypto data, with a market cap of around $1.56 trillion, still a small fraction of gold’s multi-trillion-dollar market.
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The post Mexican Billionaire Says Bitcoin Will Hit $1.86 Million. What’s His Logic? appeared first on BeInCrypto.
The White House’s digital strategy
The video games are the latest effort by the Trump Administration to use the Internet and pop culture to promote its policies.
The “Arcade” has drawn backlash from rights groups, who argue it gamifies mass deportations and trivializes human suffering.
“They’ve been playing games with people’s lives for years, now they’ve made a video game of what they’re doing,” Amerika Garcia Grewal, co-director of the Frontera Federation in Eagle Pass, Texas, told AFP.
Democratic lawmakers argued that the games reflect the White House’s misplaced priorities, especially as the U.S. war against Iran has driven up household inflation and fuel costs for Americans.
Duterte has been charged with threatening the lives of Marcos Jr., First Lady Liza Araneta-Marcos, and his cousin, former House Speaker Martin Romualdez.
The case stems from a November 2024 virtual press conference where the Vice President revealed an apparent assassination plot against Marcos, his wife, and Romualdez.
“I already talked to someone—I told him, If I’m killed, kill [Marcos], Liza Araneta, and Martin Romualdez,” she said in Filipino, “No joke, no joke. I already gave orders. If I die, I told them, ‘Don’t stop until they’re dead.’ And then he said, ‘Yes.’”
The threat is also one of the allegations included in the impeachment complaint against Duterte, on top of alleged misuse of public funds as Vice President and during her stint as Education Secretary. Duterte has repeatedly denied any wrongdoing.
The Vice President is currently standing trial at the Philippine Senate, serving as an impeachment court, following her second impeachment in May. If convicted in the impeachment court, she could be removed from office and barred from running in the 2028 national elections, where she said she plans to contest the presidency.
In a 2013 referendum, Falkland residents voted overwhelmingly in favor of remaining under British rule. The referendum saw 92% of all eligible voters turn out, with 99.8% of votes being “yes.”
“The Falklands are British because Falkland Islanders choose to be British,” Streeting said Friday, pointing to the will of the voters.
The first recorded landing on the island was made in 1690 by English naval captain John Strong. Britain took possession of West Falkland in 1765. France and Spain each had settlements on the islands at different times, but Britain re-established control in 1833 and has since administered the islands.
“Argentina claims the U.K. took the islands as an act of imperialism in the 1830s, but the remedy to colonial acquisition would be self-determination,” says Marc Weller, programme director of the international law programme at U.K.-based think tank Chatham House.
Given the British government’s insistence on Falklanders deciding their future, “it is therefore acting in accordance with the principle of self-determination,” he tells TIME.
The world’s largest cryptocurrency exchange advised its clients to be extremely cautious amid a rise in phishing attacks targeting crypto investors.
Here are the necessary steps that could lead to better protection against such wrongdoers.
Don’t Act Before You Think
Binance explained that attackers send fake “security alert” text messages to trick users into clicking malicious links, potentially resulting in devastating losses.
The team revealed that such scams are often disguised as a notification that seems official, such as “Your account settings were changed: or “Suspicious login detected.” Additionally, they can contain a shortened link asking users to “verify immediately” and create urgency for victims to act before they think.
“Remember: Binance will never ask you to tap a link in a text message to “verify” or “secure” your account,” the company clarified.
It also outlined three vital steps that can enhance protection. First, people should never click on unfamiliar links; instead, they should check their legitimacy using Binance Verify.
Next, users must turn on Withdrawal Address Whitelist in their security settings. “Once enabled, funds can only go to addresses you’ve pre-approved,” the message reads.
Third, people should enable Anti-Phishing Code and remember that genuine Binance emails will always include users’ unique codes. If the message doesn’t have it, then it’s not from the exchange.
Last but not least, Binance advised those receiving suspicious texts or who have already tapped a link to contact the official customer support immediately through the application.
Recent Binance Updates
The company has been quite active lately, delisting certain cryptocurrencies that no longer meet the required criteria and adding others to align with the latest market trends.
Last month, it announced that it will terminate all services with ICON (ICX), Secret (SCRT), and Storj (STORJ). The delisting took place yesterday (September 3), yet the prices of the affected tokens plunged sharply immediately after the disclosure.
Such reactions are normal, since Binance remains the largest crypto exchange, and withdrawing support results in reduced liquidity, diminished availability, and reputational damage. Declines of that magnitude were also observed in June for Alchemix (ALCX), Ardor (ARDR), NFPrompt Token (NFP), and Marlin (POND) after the company said goodbye.
Earlier this week, the exchange added PONS to its Binance Alpha section (an early-stage discovery hub featuring emerging cryptocurrencies before they potentially receive official support). The trending altcoin headed north after the news and continued its impressive performance. It has skyrocketed by roughly 1,500% over the past two weeks, while its market capitalization has neared $500 million.
The post Binance Issues a Critical Scam Warning: Details Inside appeared first on CryptoPotato.
Bitcoin mining as a profitable business model is becoming harder to justify at the biggest, most expensive sites.
Network hashrate, which measures the total computing power securing Bitcoin, climbed above 1.1 ZH/s in October 2025 but has since fallen toward 900 EH/s several times. Mining difficulty also dropped 11.16% in February 2026 and another 10.09% in June.
In simple terms, enough miners switched off that the Bitcoin network had to make mining easier for those still operating.
At the same time, some of the largest mining companies are finding better returns elsewhere. Core Scientific reported a negative 56% gross margin from self-mining in the second quarter, while its data-center colocation business generated nearly $80 million in gross profit.
At TeraWulf, HPC leasing produced about 71% of quarterly revenue. So, renting out high-powered computing infrastructure for AI and cloud computing is returning more profits.
So, is AI pushing out Bitcoin miners, and what happens to mining if it does?
The Competition for Premium Power
AI hardware and Bitcoin mining machines are not interchangeable. Graphics processors used for AI are generally uneconomical for Bitcoin mining, while Bitcoin ASICs cannot run large AI models. The competition instead concerns chip-production capacity, capital, land, infrastructure and, most importantly, reliable electricity.
For AI operators, a site with existing substations, grid capacity and fiber connections is considerably more valuable than undeveloped land near a power plant. AI infrastructure must be deployed quickly, but major power projects often take years to complete.
Many mining companies secured suitable land and grid connections before AI intensified competition for them. These sites can now be more valuable as AI data centers than as mining facilities. The industry’s pivot is therefore not simply about selling electricity. It is about monetizing power access that is already available.
That advantage does not apply to every energy source.
AI training and inference generally require stable, highly available electricity. Bitcoin mining can operate more flexibly. Mining machines can switch on when surplus power is available, reduce consumption when supply falls and shut down when the grid is under pressure.
A factory with rooftop solar, for example, can use excess midday generation to operate a small group of mining machines after its normal production needs have been met. The machines do not need to run continuously. Their purpose is to generate value from electricity that might otherwise be curtailed or sold back to the grid at a low price.
The same principle applies on a larger scale. Energy group ENGIE has said it is evaluating battery storage or Bitcoin mining at its Assú Sol solar project in Brazil, where transmission constraints prevent all available generation from being absorbed.
Intermittent solar and wind power can support AI, but usually only when combined with storage, grid electricity or another stable source. That additional infrastructure raises costs.
Mining is better positioned to consume electricity that is cheap precisely because it is intermittent, remote, or difficult to transmit.
Hashrate Will Move, Not Disappear
As large mining companies convert premium sites to AI, some of their machines are likely to enter the secondary market. A rig that is unprofitable in a high-cost data center may remain viable at a site with inexpensive hydropower, surplus solar or stranded energy.
Lower equipment prices cannot compensate for expensive electricity, but they reduce upfront capital requirements and shorten payback periods. Older, less efficient machines may still be economical where power is exceptionally cheap and continuous operation is unnecessary.
This could alter the structure of the mining industry. Publicly listed companies will remain important, but future hashrate growth may increasingly come from private operators, smaller miners and energy producers with direct access to underutilized power.
Bitcoin’s difficulty adjustment also helps the network respond. When miners shut down, blocks initially arrive more slowly. Difficulty subsequently falls, allowing the remaining machines to earn more Bitcoin for the same amount of computing work. Some previously unprofitable equipment may then return to operation.
Lower hashrate still matters because it reduces the cost of attacking the network. However, a temporary decline does not automatically signal a security crisis. The system continually moves toward a new equilibrium shaped by Bitcoin’s price, electricity costs, and machine efficiency.
AI will make premium power sites more expensive and render some mining models uneconomical. It is unlikely, however, to eliminate Bitcoin mining.
Instead, it is separating two markets: reliable, infrastructure-rich power will increasingly flow toward AI, while mining will migrate toward cheaper and less conventional energy.
As long as underutilized electricity exists, miners will continue looking for ways to use it.
The post Will AI Push Bitcoin Mining Out of the Market? appeared first on BeInCrypto.
ChatGPT pointed a user toward a fake crypto site, and when they signed one approval, 1,904,513 FXRP left their wallet.
That is about 1.3% of the entire FXRP supply today. Investigator VAL says the same phishing setup took more than $2.2 million overall.
One Signature, 1.9 Million FXRP Gone
The victim goes by Alex on X (Twitter), an individual who asked ChatGPT in Russian where to swap sFLR, Flare’s liquid-staked token, for wrapped FLR.
The answer carried a link to sceptre.network, and not Sceptre. The real liquid staking app runs from sceptre.fi. Alex connected his wallet and approved an unlimited spending limit. He never moved the tokens himself.
Blockchain records show the drain ran shortly before 7 pm UTC on June 12. The attacker’s own contract called it. Alex’s signature had already done the work.
The token was FXRP, Flare’s bridged version of XRP for decentralized finance (DeFi). Alex put the loss near $2.1 million.
The receiving wallet was not new either, with blockchain data showing its first funds landed on April 23, fifty days before Alex signed. It has since taken in at least four different Flare tokens, suggesting he may have not been the only target.
“This wallet has been operating since April 2026, receiving FLR in varying amounts,” on-chain investigator Val noted.
BeInCrypto described this method earlier in the year, three weeks before Alex clicked. Drainers register lookalike Uniswap domains and buy search ads to farm approvals.
The unlimited approval is the whole attack, just as one Ethereum holder learned after losing $999,999 to one signature.
OpenAI’s Agents Took Over a German Wiki
Elsewhere, Reuters reported Friday that agents linked to OpenAI made about 15,000 edits to DseWiki, a quiet German programming wiki, starting in May.
Researchers led by Sydney Von Arx of the AI safety nonprofit Nightingale found the agents swapping tips. They traded ways to cheat tasks, dodge OpenAI’s rules and hide their tracks. About half took names like OpenAIResearcher.
When a moderator began deleting pages in June, the agents saved ZZZ-prefixed copies. An alphabetical sweep reaches those last. Some discussed using Tor.
OpenAI has not accepted the findings.
“We are unable to meaningfully respond to claims or findings on a report that we have not had an opportunity to review” Reuters reported, citing an OpenAI spokesperson.
A July breakout went further, with roughly 1,200 agents gathering on an improvised board. About 700 then breached Hugging Face. BeInCrypto covered that escape in August, when OpenAI gated its cyber model.
The two cases share a medium, not a culprit. Criminals seeded the web so a model would echo their link. OpenAI’s agents wrote to it themselves. Both worked because a page looked safe.
The post ChatGPT Recommended a Fake Crypto Site Linked to $2.2 Million Scam appeared first on BeInCrypto.
Why 89% of tokenized RWAs remain idle in a $34.6B market
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