Crypto World
BitMart CPO resigns as insolvency speculation mounts
The resignation of BitMart Chief Product Officer Terence Lee has stoked speculation online that the soon-to-be-shuttered crypto exchange could well be insolvent.
In a statement, posted online, Lee claims that he wasn’t “responsible for the exchange’s core business,” and that he’s not involved in BitMart’s “operations, management, or asset-related matters of the company or any of its affiliated entities.”
He also stressed that he has “no authority over platform assets, accounts, or matters relating to user funds” and said that he wouldn’t comment on any legal proceedings, calling his resignation “my sole public clarification on this matter.”
Crypto streamer Travladd said that Lee’s departure “screams insolvency,” and claimed that he’s resigning “before shit hits the fan.”
BitMart situation has ‘gotten out of hand’
According to “Cao,” a lawyer who’s previously served BitMart demand papers, the “situation has gotten out of hand.”
They said that “Not being in control of assets doesn’t exempt a co-founder from responsibility; you don’t get to opt out of accountability by stepping back once things collapse.”
Read more: BitMart founder denies exit scam as withdrawals stall
BitMart’s withdrawal issues
Prior to Lee’s departure, Open Gradient CEO Matthew Wang had already accused BitMart of insolvency after his market maker couldn’t retrieve its funds.
He also claimed that it was “insane” that BitMart asked token holders to lock up their tokens one week before it announced that BitMart would cease operations by January 31, 2027.
Wang’s post was apparently deleted while BitMart’s closure announcement on X was “withheld” from UK users “in response to a legal demand.”
Read more: BitMart processed just 63 withdrawals after closure announcement
The announcement promised an “orderly wind-down” and claimed, “withdrawal services will remain available.”
BitMart users scrambled to withdraw their funds as the price of its token fell 80% between July 24 and July 26.
However, there were significant delays, with users experiencing difficulties weeks later.
Co-founder denies rugpull
Eventually, BitMart co-founder Sheldon Xia broke a two-week silence to deny that the firm was conducting an exit scam.
In a statement that included no figures or timeline, Xia said the team is still tallying and consolidating what it holds.
He also floated the possibilty of “involving the courts and independent third-party auditors to provide a transparent report.”
Protos has reached out to BitMart for comment and will update this piece should we hear anything back.
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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.
Norway’s Government Pension Fund Global disclosed a 6,151,062-share position in BitMine Immersion Technologies valued at $81,870,635, according to a Norges Bank holdings filing for the quarter ended June 30. The holding gives the sovereign wealth fund indirect exposure to Ethereum through BMNR… Read the full story at The Defiant
ShipMonk, Trezor’s fulfillment partner, suffered unauthorized access to its systems, affecting nearly 14,000 customers’ data, the cold storage crypto wallet firm reported Thursday.
Trezor said the names, email addresses, phone numbers and shipping addresses of 11,742 customers had been compromised. It also said the names, cities and email addresses of another 1,947 customers were also breached, bringing the estimated number of victims to nearly 14,000 across the U.S., the UK, Sweden, Colombia, Brazil, Italy and Portugal.
“We have some difficult news to share,” Trezor said Thursday on X. “Unfortunately, one of our shipping providers has experienced a data breach that exposed sensitive order data.”
The Trezor-related security hack comes as global data breaches are at an all-time high, according to SentinelOne, a U.S. cybersecurity firm. It said that this year, data breaches have increased by 17% compared with 2025, with an average of 2,090 attacks worldwide each week. It is also estimated that global data breaches have been rising by 3% month over month since January.
Crypto World
Ripple Price Analysis: XRP Structure Remains Weak as $1 Support Comes Under Pressure Again
XRP remains firmly in a corrective structure, with the token trading near $1.00 after months of lower highs and lower lows. While the current support zone could trigger a relief move, the broader trend remains bearish until the asset can reclaim several key resistance levels.
Ripple Price Analysis: The USDT Pair
On the XRP/USDT daily chart, the price continues to trade inside a descending channel and below the 100-day and 200-day moving averages shown on the chart. This keeps the broader market structure tilted to the downside.
XRP is currently testing the $1.00 support zone, which has acted as a local floor during the recent consolidation. Holding this area could give buyers an opportunity to build a base and initiate a recovery toward the first major resistance at $1.25-$1.30. This zone is particularly important as it aligns with the critical 200-day moving average, which is currently declining around the same area.
A breakout above the descending channel and the $1.30 supply zone would improve the technical picture and could open the door toward the $1.50-$1.60 resistance area. However, as long as XRP remains below the $1.25-$1.30 area, the prevailing downtrend remains intact.
If the $1.00 support fails, the next major downside area appears around $0.90. A sustained move below that zone would signal another significant structural breakdown that could push the price even deeper and toward the lower boundary of the large channel.
The BTC Pair
The XRP/BTC pair paints a similarly weak picture. The pair has broken below the 1,700 sats support level and continues to trade within a broader descending structure.
XRP/BTC is now approaching the 1,500 sats support zone. Holding this area could allow for a recovery back toward 1,700 sats, which has now become the first key resistance. Until that level is reclaimed, XRP appears likely to remain relatively weak against Bitcoin.
Overall, XRP is in a critical technical area on both charts. The 1,500 sat demand zone is the crucial level for buyers to defend on the BTC pair. A sustained defense of this area could also fuel a rebound against USDT, but the broader bearish structure remains in place unless XRP begins reclaiming the overhead resistance levels.
The post Ripple Price Analysis: XRP Structure Remains Weak as $1 Support Comes Under Pressure Again appeared first on CryptoPotato.
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 City of Baltimore and its mayor, Brendan Scott, filed lawsuits against Kalshi and Polymarket over allegations that the companies violated local gambling laws.
In a Thursday notice, the Baltimore mayor’s office said that the two prediction market companies operated “illegal, unlicensed sports-betting platforms” and misled users about the ”legality and regulatory status of their products.” The lawsuits are centered on claims disputing Kalshi’s and Polymarket’s characterization of event contracts, arguing that the trades amount to unlawful wagers under state laws.
“These companies are running sportsbooks without licenses and betting that a new label will put them above the law,” said Scott. “It won’t. Baltimore will not let multibillion-dollar companies put profits over people and harm our communities through illegal gambling.”
Notably, the city’s complaint against Kalshi included Robinhood, Webull and Coinbase as partners with the prediction market platform. All companies were accused of deceptive practices by marketing sports contracts as something that can ”lawfully be purchased and traded in Maryland.”
The legal action against prediction market companies was the latest conflict between US state and federal authorities, and many experts expect it to end with an appeal to the Supreme Court. The US Commodity Futures Trading Commission (CFTC), under Chair Michael Selig, and companies have argued that event contracts on prediction markets amount to “swaps” within its purview, while both Baltimore lawsuits and other state-level authorities dispute that claim.
“City-specific action runs counter to the CFTC’s established framework for regulating prediction markets,“ a Polymarket spokesperson told Cointelegraph in response to the lawsuit. “As courts have recognized, prediction markets on CFTC-registered exchanges are governed by federal law, not a patchwork of state and local rules.”
Related: Judge stays CFTC’s case against US soldier over prediction market bets
It is quite challenging to spot a cryptocurrency whose price has jumped by double digits over the past seven days, with Monero (XMR) among the few exceptions.
Following the green wave, many market observers have become optimistic, expecting additional gains.
Just the Beginning?
XMR has crossed $400, currently trading at around $404 (according to CoinGecko), representing a 13% weekly increase. Its market capitalization has exceeded $7.5 billion, making it the 16th-largest cryptocurrency after overtaking Cardano’s ADA.
The exact catalyst for the resurgence remains rather unclear, yet certain analysts spotted the formation of bullish patterns that could support a more sustainable uptrend. Several days ago, X user The Moon Show claimed that XMR might be carving out a massive cup-and-handle structure.
“I’m watching for a clean handle followed by a breakout above $430. If that happens, things could move very fast,” they said.
For their part, Lucky (an X user with almost two million followers) described the move north as a “special breakout from a special privacy gem.” The analyst argued that it has entered the bullish trend, projecting a pump to almost $600.
Crypto With Gopal appears to be the biggest optimist. He opined that XMR has formed a massive triangle pattern, with the price consolidating near $400 after a strong recovery, as rising support and descending resistance squeeze momentum.
“Bulls are holding the range as a major breakout setup develops. A clean breakout above the upper trendline could trigger a major expansion move toward the $1,000 target,” he forecasted.
The Bearish Signals
It is worth mentioning that, based on two important factors, XMR’s rally could be abruptly replaced by a short-term pullback. The first is the asset’s Relative Strength Index (RSI), which measures the speed and magnitude of recent price changes to give traders an idea about possible trend reversals.
It ranges from 0 to 100, where anything above 70 means that the coin has entered overbought territory and could be due for a correction. In contrast, ratios below 30 are typically interpreted as buying opportunities. As of now, the RSI stands at around 77.
The second element is XMR’s exchange netflow. In the past few months, inflows have dominated outflows, signaling that investors have abandoned self-custody and flocked to centralized platforms. This, in turn, increases immediate selling pressure.
The post Monero (XMR) Rises 13% Weekly as Analysts Expect Further Upside appeared first on CryptoPotato.
Hardware wallet vendor Trezor has disclosed that personal data tied to roughly 14,000 customers may have been exposed through a shipping-related incident involving its logistics provider, ShipMonk. While Trezor emphasized that its own systems were not breached and that customer devices remain secure, the company warned that the information could be used to carry out targeted phishing attempts.
In a blog post released this week, Trezor said customers who received products shipped from the US, UK, Sweden, Colombia, Brazil, Italy, and Portugal during a specific window—May 10 through Aug. 8—may have been affected. The company’s review found that 11,742 customers could have had their name, physical address, phone number, and email address compromised, and that an additional 1,947 users may have had their name, city, and email address exposed.
Key takeaways
- Trezor says the incident did not involve compromising its own systems; customer Trezor devices are not at risk.
- About 14,000 customers could face phishing attempts because shipping data may have been leaked.
- The affected shipments span multiple countries and cover deliveries made between May 10 and Aug. 8.
- Trezor warned scammers may impersonate banks, crypto exchanges, or Trezor itself using stolen contact details.
- The disclosure follows a prior Trezor advisory in January 2024 involving potential phishing targeting customers after contacting support.
What Trezor says was exposed—and who is affected
According to Trezor’s announcement, the risk comes from personal information associated with customers’ orders rather than from any compromise of the underlying wallet or its security infrastructure. The company said customers who received Trezor products in the affected shipping region and date range could be targeted with scams designed to look more legitimate by using specific personal details.
Trezor broke the potential exposure into two groups. The larger group of 11,742 customers may have had a fuller set of identifiers—name, home address, phone number, and email—while 1,947 users may have had fewer data points exposed, including their name, city, and email address. Even when the dataset is smaller, attackers can still use it to craft more convincing social engineering messages, especially if the scam references a recent purchase or delivery.
Phishing risk: why shipping data matters to crypto users
Trezor’s core message is that its hardware remains secure, but that affected customers might be targeted by “more sophisticated phishing attempts” because scammers can use leaked details to improve the credibility of their outreach. In practical terms, the company said criminals could send fake emails, make fraudulent phone calls, or send counterfeit letters—potentially even impersonating banks, crypto exchanges, or Trezor.
That warning aligns with how many crypto-related theft attempts operate: attackers rarely need to break wallet security directly if they can trick users into revealing sensitive information, approving fraudulent transactions, or moving funds under false pretenses. Personalized contact information—like a real address, phone number, or email—can help scammers bypass basic suspicion and increase the odds that a victim engages with the scam.
For investors and active traders, the most immediate concern is not whether the wallet device is compromised, but whether the user’s operational security is. A well-timed phishing campaign can target anyone who has recently installed wallet software, registered an account, or is actively managing assets—exactly the moment when a misleading message could be most convincing.
A pattern of data-driven targeting for crypto holders
Trezor described the shipping-provider incident as part of a broader set of scams that appear to leverage personal data to reach crypto holders. Earlier reporting around Trezor’s own disclosures shows the company has already warned customers about phishing risk tied to customer support interactions.
In January 2024, Trezor reported that about 66,000 users were at risk of phishing attacks if they contacted the company’s support team after December 2021. Earlier coverage from Cointelegraph noted that those users could potentially be targeted because their engagement with support could make them easier to identify for scammers. The new disclosure suggests that, even when devices remain secure, the wider ecosystem—order handling, shipping logistics, and customer contact channels—can become a pathway for criminals to collect enough data to stage convincing impersonation attempts.
Cointelegraph has previously reported that scammers have used additional tactics beyond digital messages, including physical letters sent through mail to manipulate wallet users. Other approaches include text messages and emails or calls where attackers claim to be family members in urgent need, or impersonate authorities to demand repayment for a fake debt. The common thread across these tactics is social engineering—an area where leaked personal data can materially raise the quality and believability of the scam.
What to watch next for affected customers
Trezor’s disclosure does not indicate that the incident enabled direct theft from wallets, and the company states its internal systems were not compromised. However, the company’s framing makes the next steps less about checking the device and more about monitoring for suspicious communications that reference the customer’s recent Trezor shipment or personal details.
Customers in the delivery window and listed countries should be alert for unexpected emails, phone calls, or letters that ask for sensitive wallet-related actions or encourage them to verify account details through links or instructions provided by the caller. With crypto scams frequently evolving in response to user awareness, the practical question now is whether the leaked shipping data begins circulating in the wild and whether follow-on attempts appear in the weeks after this disclosure.
For the broader market, the incident is another reminder that hardware wallet security is only one part of the threat landscape: criminals increasingly rely on data from the customer journey—shipping, support interactions, and contact databases—to make phishing harder to spot. Readers should watch for emerging scam reports tied to delivery-confirmation themes and remain cautious about any outreach that attempts to force immediate actions.
XRP traded at $1.009 on Thursday. It has been pinned to that dollar line since the Senate skipped its CLARITY Act vote and left for recess.
That bill would write XRP’s legal status into federal law. Its next window opens when senators return in September. The Commodity Futures Trading Commission (CFTC) has signaled it will not wait.
Follow us on X to get the latest news as it happens
XRP Peaked the Day the House Passed the Bill
One date frames the whole story. XRP set its record high of $3.65 on July 17, 2025. The House passed the CLARITY Act that same day. The vote was 294 to 134, with every Republican in the chamber voting yes.
The XRP price now sits about 72% below that peak. It is down 2.9% over the past week and 8.7% over the past month.
The bill has crawled since. Senate Banking advanced it 15-9 in May. It still needs 60 votes on the floor, and senators went home in August without holding that vote.
Buyers have noticed. XRP ranks sixth by market value at $63.2 billion, yet spot ETF demand has stalled while larger tokens gained.
Why XRP Needs a Law, Not a Ruling
XRP’s legal footing comes from a courtroom, not Congress. Judge Analisa Torres ruled in July 2023 that XRP sold anonymously on exchanges was not an investment contract.
She also found Ripple’s direct sales to institutions broke registration rules. Ripple ended up paying a $125 million penalty.
Regulators went further this year. On March 17, the SEC and CFTC issued a joint interpretation sorting crypto into five categories, including digital commodities.
That document named no individual token. It also pointed straight back at Congress.
“complements Congressional efforts to codify a comprehensive crypto market structure framework into statute,” SEC and CFTC joint interpretation, March 17, 2026.
A ruling can be narrowed. An interpretation can be rewritten by the next commission. A statute is far harder to undo. That gap is what keeps cautious money away from XRP.
Ripple Already Has a Seat at the CFTC Table
The CFTC meets on August 20 in Washington. Its opening session starts at 1:30 p.m. ET under the title “Crypto’s Regulatory Evolution: From Uncertainty to Clarity.”
The agenda asks a narrow question. What can the agency fix using powers it already holds?
Ripple CEO Brad Garlinghouse sits on that committee. So do the chief executives of Coinbase, Nasdaq, and CME Group.
The SEC is moving in parallel. Commissioners vote Friday on proposed crypto offering rules for token fundraising.
Citing people familiar with the matter, Eleanor Terrett, host of the Crypto America podcast, reported Thursday that a separate tokenization exemption has slipped again. Negotiators are still arguing over that part of the bill.
Not everyone reads the delay as damage. Former CFTC Chairman Chris Giancarlo argues that innovation continues without legislation.
For XRP, the sum is simple. Agency rules can steady the market. Only a law can give institutions the certainty they have waited for since July 2025. Public comments on the CFTC meeting close on August 27.
The post XRP Defends $1 by a Cent Since CLARITY Act Slipped. Now CFTC Steps In appeared first on BeInCrypto.
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