The market that dragged bitcoin off $65,000 this week didn’t sell it hard. It just stopped showing up.

Bitcoin closed the week near $62,600 after failing to reclaim $65,000, and Yusuf Fakhro, a partner at Bahrain-based ARP Digital, reads that through the market’s plumbing rather than the Fed headline that nudged it lower. The ETF bid that powered July’s recovery has stalled, flipping to net outflows of nearly 4,000 BTC on the week after a run of steady inflows.

The rest of the tape has gone quiet to the point of dormancy. July logged the lowest average daily spot volume since November 2023. CME open interest sits at 2023 levels. Perpetual-futures positioning has stalled near 300,000 BTC.

It’s a market that has stopped participating, Fakhro said, and even Strategy has paused its bitcoin buying for a fifth straight week, so the biggest structural buyer is sitting on its hands too.

The July 29 Fed meeting held rates and offered no easing signal, stripping out the catalyst bulls had leaned on.

The week’s real jolt came from custody. A Coldcard firmware flaw dormant since 2021 was exploited to drain roughly 1,367 BTC, about $89 million, from thousands of self-custodied wallets, and some holders have since moved coins back onto exchanges and into regulated products.

Bitcoin traded near $62,700 on Monday, down 3.5% on the week. Watch the next inflow print: if the ETF bid stays flat while price holds, Fakhro’s exhaustion read is right, and if fresh outflows can’t push it under $60,000, the sellers really are done.

David Schwartz, an XRP Ledger co creator and current Ripple board member, proposed a Bitcoin inheritance setup on Aug. 3 that separates access to duplicate hardware wallets from the PIN needed to unlock them. 

His post followed a renewed debate over paper backups after the Coldcard firmware failure. Ripple identifies Schwartz as an original XRP Ledger architect, while its current leadership page lists him as a board member.

Schwartz described the idea as “one way” to handle inheritance, not as a finished product or guaranteed security model. He suggested loading the same 24 word recovery phrase onto two additional cold wallets, setting the same PIN on both, giving one device to each of two relatives, and sharing the PIN with two trusted friends who would disclose it after the owner’s death. The post did not name a wallet model or use the “nuclear briefcase” label.

How the Bitcoin inheritance plan would work

The proposed setup creates two physical copies of the same wallet. Each relative would hold a signing device but lack the PIN. Each friend would know the PIN but hold no device. Under normal conditions, neither group could access the Bitcoin without cooperating with someone from the other group.

Schwartz’s argument came during a discussion about whether paper backups are simpler than hardware wallets. Paper avoids firmware exposure, but it remains vulnerable to theft, fire and accidental destruction. Bitcoin Design notes that metal backups offer greater physical durability, while hardware wallets isolate recovery phrases and private keys from connected devices.

Meanwhile, the arrangement does not create a multisignature wallet. Both devices contain the same recovery phrase, so each represents the same signing authority. One relative and one friend could therefore gain full control together. A leaked PIN paired with a stolen device could create the same result.

True multisignature systems use separate keys and require more than one signature before funds move. Unchained describes a common two of three structure where one compromised key cannot spend the Bitcoin alone. Schwartz’s proposal instead divides one complete credential into a physical component and a knowledge component.

Coldcard losses make seed quality the central risk

The debate follows a Coldcard flaw that weakened randomness during seed generation on affected firmware. Coinkite has released corrected versions, but updating firmware cannot repair an earlier recovery phrase. Affected users must create a new seed and move their Bitcoin. Coinkite says sufficient private dice entropy or a strong passphrase may provide additional protection in some cases.

Block’s security team traced the issue to a deterministic software fallback and limited reseeding process. It cautioned that it had “not done full empirical testing to confirm exploitability,” while reporting that active theft was underway. The findings show why copying a wallet is safe only when the original seed was generated securely.

As crypto.news reported, a fourth suspected attack wave moved 448.7 BTC from 709 possible victim addresses. Four observed waves may total about 1,815.75 BTC across 5,294 addresses if there is no overlap. Those figures remain onchain estimates rather than losses confirmed by every wallet owner, Coinkite or law enforcement.

A complete inheritance plan needs legal steps

Schwartz’s outline addresses access, but inheritance also requires clear instructions, legal ownership records and a process that heirs can execute under stress. Unchained advises documenting the security model and ensuring an executor or trustee understands how to use the relevant keys. In related coverage, crypto.news noted that self custody can leave assets permanently inaccessible when owners fail to prepare heirs.

The setup also depends on relatives and friends remaining reachable, trustworthy and capable of coordinating. Device failure, forgotten PINs, disputes or premature disclosure could still disrupt the transfer. The claim that heirs are “guaranteed” to receive the funds would therefore be too strong.

Schwartz’s post did not announce a commercial service, audit or formal technical specification. Independent review would need to compare the approach with multisignature wallets, time based controls and professional estate planning. Any recovery process should also be tested with a small balance before it is trusted with long term Bitcoin savings.

Gold has had a rough year. After hitting an all-time high near $5,602 in January, the metal has since dropped roughly 27% from that peak, weighed down by rising Treasury yields, a firmer dollar, and cooling demand for safe-haven assets.

This week brought a fresh twist. Gold climbed back above $4,050 on Monday after President Trump signaled that peace talks with Iran would resume, following pressure from regional allies like Saudi Arabia to pause military strikes. The news pushed oil prices lower and eased inflation fears, but it also reduced some of the safe-haven demand that had been supporting gold.

Despite the sharp correction, most analysts still expect gold’s long-term uptrend to eventually reassert itself. In the near term, though, all eyes are on Friday’s US jobs report, the week’s key catalyst: a weak print could revive rate-cut expectations and give gold fresh support, while a strong one could extend the current pullback.

Technical Analysis of XAU/USD Chart

As the XAU/USD chart shows, gold remains locked in a broader downtrend since January’s record high, currently testing the descending trendline from below while holding just above the 3,900-4,000 support zone.

Bullish Scenario

Gold has already shown signs of life bouncing from the 3,900-4,000 support, and the RSI divergence lends some credibility to this reaction. Should price break decisively above the descending trendline, the next real test becomes the 4,400 resistance zone, where the 200-period EMA also converges—a level that has proven highly significant over recent months. A confirmed break above this confluence would mark a meaningful shift in gold’s broader structure.

Bearish Scenario

Should gold instead reject the trendline once again, price risks getting trapped between resistance above and support below. In that scenario, Friday’s NFP report looms as a potential catalyst: a strong print could tip the balance, breaking the 3,900-4,000 support and opening the path toward the next meaningful level, the former resistance-turned-support zone at 3,400-3,500.

With price squeezed between a stubborn trendline and a battle-tested support, and a major data release just days away, gold’s next move could finally answer the question traders have been asking since January’s peak: is the correction over, or just catching its breath?

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Crypto-friendly trading platform Robinhood (HOOD) is now registered to offer cryptocurrency services in the U.K.

Robinhood’s U.K. arm was added to the Financial Conduct Authority’s (FCA) list of registered cryptoasset companies as of July 31.

The company’s existing FCA registration means it meets the regulator’s requirements where it comes to anti-money laundering (AML). A regime for crypto firms has been in effect since 2020 and now numbers over 50 approved companies, including Ripple, Kraken and traditional finance (TradFi) giants like BlackRock and BNY.

Winning the regulator’s permission to offer crypto services has added significance ahead of the inception of the more comprehensive framework for crypto regulation in the U.K. The authorization process opens at the end of September and closes at the end of February next year, ahead of the full regime coming into force in October.

The relatively brief window for companies to register and obtain full regulatory approval means those firms already registered under the FCA’s existing regime may have done a lot of the heavy lifting in advance.

ZeroStack’s plan to fund operations through 0G token reward sales is in jeopardy after a sharp drop in the token’s value. The downturn has also cast doubt on the company’s ability to continue as a going concern.

ZeroStack ended June with a $61.3 million first-half loss, negative working capital, and $2.6 million in cash.

ZeroStack’s Form 10-Q Disclosure

According to its Form 10-Q disclosure for the quarter ending June 30, ZeroStack held $2.6 million in cash, negative working capital of $600,000, an accumulated deficit of $339.1 million, and a $61.3 million net loss. The company also reported an accounting loss of $82.5 million after re-measuring its assets at fair value.

ZeroStack held 75.1 million 0G tokens with a fair value of $15.17 million and a recorded cost of $163.33 million. It also held a small Bitcoin (BTC) position, taking the total fair value of ZeroStack’s holdings to $15.21 million and the total recorded value to $163.43 million.

The downturn in the value of ZeroStack’s 0G tokens represents a 90% decline and has cast serious doubts on the company’s financial stability and its ability to continue operations without securing additional funding.

Staking Reward Sales To Fund Operations

ZeroStack received 6.62 million 0G tokens through staking rewards in the first half of 2026, earning $3.78 million in revenue. The company sold 4.94 million 0G tokens for $2.4 million and used $2.47 million in cash for other operational activities. The company plans to monetize staking rewards and fund operations.

It may also sell some of its underlying holdings. ZeroStack stated in its disclosure that the staked tokens are held in company wallets and can be withdrawn when needed. The company also noted that staking rewards could decline or disappear entirely, and that any sale depended on prevailing market conditions and token value.

However, ZeroStack’s strategy could be at risk due to the significant decline in the 0G token’s value. The token is currently trading at $0.14, declining nearly 5% in the past 24 hours.

Investor Confidence Shaken

ZeroStack’s 0G bet and the subsequent decline in the token’s value significantly impact its investors. The downturn could result in further write-downs, affecting stock price and investor confidence.

Investors will closely monitor ZeroStack’s next steps. The company can raise funds through asset sales, a capital raise, or restructuring efforts. However, its current model could fail if the 0G token’s value continues declining.

ZeroStack’s July 20 acquisition of Texas Blocker increased its 0G token holding to 223.77 million, amplifying its exposure to the token’s downturn.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The flaw allowing the exploit traces to a March 2021 firmware build that routed seed generation to a predictable software randomizer instead of the chip’s hardware one, leaving the resulting keys reproducible offline by anyone who works out the range. Coldcard manufacturer Coinkite released emergency firmware for every affected model and told users who had generated a seed on the flawed software to move funds to a wallet address made with a fresh one.

Thorn said he had no direct victim report and published his findings on pattern matching alone, choosing speed over confirmation to warn people while the transactions were still unconfirmed.

If it holds, however, the running total across four waves had reached about 1,816 bitcoin, near $114 million, from more than 5,200 addresses since July 30.

Thorn advised users to check funds, move anything off an affected device and bid the fee up.

The pattern covered blocks 960,778 to 960,792, with 218 transactions hitting 462 victim addresses at a rate of about 14 sweeps per block against 0.3 in a pre-incident control window, roughly 45 times normal.

Each of the spent coins that arrived after the Coldcard firmware boundary, and the destinations were fresh addresses with no prior history, one per victim rather than the shared collectors that made the first two waves easy to map.