- Bitcoin breaks $80,000, up 24.0% for the week amid continued institutional buying.
- SEC investigates Situational Awareness near-collapse, subpoenas Wall Street banks.
- Cosmos EVM vulnerability hits TAC Blockchain for $7.5M, its second exploit today.
Bitcoin traded near $80,677, up 2.7% over the past 24 hours and up a sharp 24.0% for the week. Ethereum held around $2,509, up 1.4% on the day and 30.7% weekly. XRP surged to $1.52, up an extraordinary 50.7% for the week, while Solana jumped 5.3% to $100.93, up 32.2% weekly.
BNB rose to $714.24, up 17.4% for the week. Total crypto market capitalization stood at $2.78 trillion, up 3.9% over the past day, with 24-hour trading volume reaching $127.29 billion.
Trending Searches Led by Zano and Bitcoin Itself
Zano surged 7.3% to lead trending searches, followed by Bitcoin itself, up 2.7%, and Pons, up 42.4%. Among top gainers, GEKKO jumped 547.1% and DGrid AI added 49.2%, reflecting continued speculative rotation even as majors extended their weekly gains.
SEC Investigates Situational Awareness Near-Collapse
The SEC has opened an investigation into the near-collapse of AI hedge fund Situational Awareness, issuing subpoenas to major Wall Street banks that participated in the fund’s trading and provided leverage financing, according to people familiar with the matter.
Regulators are seeking trade timing data and communications between the fund and its lenders. The fund, founded by former OpenAI researcher Leopold Aschenbrenner, managed more than $30 billion in assets at its peak before losses widened rapidly last month, forcing a fire-sale liquidation of most of its stock portfolio to Citadel at a discount.
Situational Awareness said it will “fully cooperate” with regulatory requirements, and the SEC said the investigation remains in early stages with no findings of wrongdoing.
Cosmos EVM Vulnerability Claims a Second Victim
Layer 1 blockchain TAC confirmed hackers exploited a vulnerability in the Cosmos EVM module’s precompile layer, stealing approximately $7.5 million by transferring roughly 2.986 billion TAC tokens from a custodial account. The project paused its network and froze all transactions, deposits, and withdrawals while working with exchanges to trace the funds.
The exploit came the same day Term Labs disclosed a separate $8.5 million governance attack, and follows a similar Cosmos EVM-related incident that previously hit MANTRA Chain. Cosmos Labs advised all affected EVM chains to halt operations as the security team investigates the broader module vulnerability.
Hayes Ties Bitcoin Rally to Treasury “Money Printing”
Arthur Hayes argued that Treasury Secretary Bessent’s expanded long-end bond buybacks mirror former Secretary Yellen’s late-2023 strategy of releasing reverse-repo liquidity through increased short-term Treasury issuance, both aimed at suppressing yields as the 10-year approached 5%.
Hayes said Yellen’s move released roughly $2.4 trillion in liquidity that helped fuel Bitcoin’s rebound from its post-FTX bottom, and expects Bessent will be forced to expand buybacks further despite an initially modest first round. Hayes said his fund Maelstrom remains fully positioned long across Bitcoin, Ethereum, Ethena, and Ether.fi.
Institutional Accumulation Continues at Scale
BlackRock’s ETF wallets purchased roughly $240 million in BTC and ETH within a single hour. BitMine added 32,447 ETH last week, lifting total holdings to 5.85 million ETH, roughly 4.8% of total supply, with staked ETH now generating an estimated $330 million in annualized income.
Strive spent $81.5 million to add 1,110 BTC, bringing its total to 21,356 BTC. Strategy’s dollar liquidity climbed to $6.69 billion after raising over $2 billion in net proceeds from MSTR sales last week, though the company added no new Bitcoin, holding steady at 840,447 BTC.
Whales Take Profits as Rally Extends
The “Hyperliquid biggest long whale” closed 60,000 ETH and 1,200 BTC in early trading, realizing a $45.3 million profit and reducing total long exposure from $537 million to $143 million, while still holding a 1,800 BTC position with $21.08 million in unrealized gains. F2Pool co-founder Wang Chun continued trimming ETH exposure, reducing by another 6,609 ETH and bringing cumulative reductions since the rally began to 23,378 ETH worth roughly $55 million.
Related: Coinbase Brings Apple, Nvidia and Meta Stocks to Blockchain Trading
Coinbase Expands Tokenized Equity Access
Coinbase launched tokenized US stocks natively on Base, starting with Apple and Nvidia, using the B20 standard with shares held 1:1 by regulated custodians through a bankruptcy-remote structure under Abu Dhabi Global Market oversight. Tokens are held in self-custodial wallets, support dividend income and use as DeFi collateral, and remain available only to eligible users outside the United States for now.
Data Breaches and Sanctions Developments
On-chain investigator ZachXBT flagged suspected undisclosed data breaches at US platforms BitcoinIRA and iTrustCapital, citing a case where leaked information helped an attacker steal over $1.2 million from a BitcoinIRA user in June. The US Treasury announced a new sanctions round targeting Iranian digital assets, oil, and technology sectors, with Secretary Bessent calling it an “economic D-Day” and disclosing the US has seized nearly $1 billion in Iran-linked crypto assets to date.
Related: Strive Bitcoin Holdings Reach 21,356 BTC After Fresh $81.5 Million Buy
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