pathway

Galaxy Research published that the attackers in the Coldcard "Wave 3" attack are still continuously transferring the stolen funds. During this phase, the attackers created 293 2-of-2 multi-signature wallets for each victim's assets. The first batch of funds was transferred across chains to Ethereum via THORChain; the latest round of transfers has begun entering the CoinJoin mixing process.Currently, the Wave 3 attackers are processing the largest amounts of stolen funds in order of the stolen amount, having sequentially transferred the funds from wallets ranked 1 to 11. The next 10 wallets that have not yet been transferred hold a total of 30.81 BTC, while wallets ranked 61 to 293 hold a total of 33.77 BTC. So far, the attackers have transferred about 45% of the stolen assets from this exploit, with funds flowing to Ethereum (via THORChain) or entering CoinJoin mixing transactions. Additionally, this fund transfer has revealed a previously unknown wallet: 58 addresses jointly spent in a 2-of-2 multi-signature format identical to that of Wave 3, and these were further transferred by the Wave 3 attackers to a jump address that funds CoinJoin.The on-chain analysis team currently marks this wallet as "cause = open," but believes it likely also belongs to Coldcard victims, which means the number of wallets involved in Wave 3 may increase to 294, raising the previously reported total amount stolen from the Coldcard vulnerability to approximately 1806 BTC. Currently, about 82% of the stolen BTC remains in addresses initially controlled by the attackers, while about 18% has been transferred, with the flow of funds indicating that it may be undergoing laundering processes.

The head of Galaxy Research posted on platform X stating that the U.S. Securities and Exchange Commission has proposed the Regulation Crypto Assets, abbreviated as Reg Crypto. This proposal aims to establish a legal pathway for the issuance of certain tokens to the U.S. public and to set up a mechanism for terminating investment contracts. The scope is limited to crypto assets that are not themselves securities but have been issued or sold as part of an investment contract; tokenized stocks, bonds, and arrangements that bundle tokens with equity or other securities are not included in the framework.The proposal sets four stages: financing, disclosure, construction, and exit. A one-time startup exemption allows issuers to raise up to $5 million over a maximum of four years; a higher exemption limit set by Regulation A allows for raising $20 million or $75 million within 12 months.Related financing must undergo qualification review by the U.S. Securities and Exchange Commission and continuous disclosure, with the investment cap for unaccredited investors being the greater of 10% of their annual income or net worth. Issuers must also disclose the token supply and release plan, minting and burning mechanisms, governance and smart contract permissions, source code, as well as project construction commitments and progress.When the issuer completes or permanently ceases relevant construction obligations, makes no new construction commitments, and submits a transition report, the related investment contracts will be deemed terminated, and the crypto assets will no longer be subject to securities laws under that investment contract. Issuers that do not use the above financing exemptions can also utilize this safe harbor. The U.S. Securities and Exchange Commission estimates that approximately 475 issuers will use the investment contract safe harbor each year, with about 130 issuers utilizing the two new exemptions. Qualified issuances may not be considered restricted securities and can be resold immediately without contractual restrictions.The proposal will also exclude initial offerings and certain secondary transactions within its scope from state registration and qualification requirements, but it does not involve exchanges, brokers, dealers, custodians, nor is it an independent innovation exemption for tokenized securities and on-chain transactions. The comment period is 60 days after publication in the Federal Register. U.S. Securities and Exchange Commission Chairman Paul Atkins and Commissioners Hester Peirce and Mark Uyeda have all issued supportive statements.

According to Finsmes, AI architecture development company Pathway announced the completion of a $30 million seed round financing, with participation from Id4 Ventures, TQ Ventures, Red Bridge Ventures, Kadmos Capital, and WS Investment, an investment institution under Wilson Sonsini. Databricks Chief AI Scientist Jonathan Frankle also joined as an angel investor.Pathway is developing the "Post-Transformer" architecture called BDH (Biologically-inspired Dynamic Hierarchy), aiming to address the limitations of current Transformer models that continuously rely on more data, GPUs, energy, and capital expansion. Unlike traditional large models that require periodic retraining, BDH can continuously learn with less data and achieve ongoing adaptation.It is reported that the company has appointed former Google DeepMind Gemini product head Adam Kurzrok as Chief Product Officer, responsible for the product direction based on the BDH model, including model packaging, evaluation systems, and commercial deployment.

Strive's Vice President of Bitcoin Strategy Joe Burnett stated that the annualized rate of return (ARR) for Bitcoin's breakeven point is often misunderstood, and understanding this concept is crucial for grasping the market. He categorized global capital allocation to Bitcoin into three paths: Bullish Bitcoin - believing that Bitcoin will appreciate significantly, borrowing long-term funds at a cost of less than 20% to increase positions; Neutral Bitcoin (digital credit) - Bitcoin only needs to grow by 3.3% annually to permanently cover dividends through capital appreciation, such buyers only need to believe that Bitcoin will not disappear and will outpace inflation, which may have become a global consensus; Bearish Bitcoin - expressing a bearish view through shorting Bitcoin or amplifying Bitcoin.Burnett pointed out that these three paths correspond to three types of Bitcoin-linked instruments, allowing major global capital allocators to find allocation methods that match their worldview, which is precisely the path through which over a trillion dollars of capital is gradually flowing into the Bitcoin market.

The Hyperliquid Policy Center (HPC) announced that it has formally submitted a comment letter regarding the U.S. Commodity Futures Trading Commission (CFTC) Advance Notice of Proposed Rulemaking (ANPRM) on prediction markets, advocating for the establishment of a clear compliance path for decentralized prediction markets based on public, permissionless blockchains while improving the regulatory framework for centralized prediction markets.In the comment letter, HPC calls on the CFTC to develop more flexible, function-oriented rules to accommodate decentralized market structures; to establish clear legal channels for U.S. market participants to access decentralized prediction markets; and to promote the U.S. leading position in decentralized financial innovation. HPC stated that prediction markets are a natural extension of the federal derivatives framework, helping participants directly manage their economic risk exposure to real-world events and aggregating dispersed information through continuously updated market prices, whose price discovery capabilities have been widely validated, even outperforming traditional polls and expert forecasts.It pointed out that decentralized prediction markets based on public blockchains have advantages such as transparency, non-custodial nature, and high resilience, not relying on centralized operators to hold user funds, and there is no single point of failure risk; all transactions are recorded in real-time on a public ledger, facilitating regulation and market oversight, while market access standards are more transparent and uniform.HPC emphasized that current rulemaking should not solidify reliance on a single exchange operator, custodial intermediaries, and traditional settlement monitoring mechanisms, as this would hinder U.S. users' legitimate participation in decentralized prediction markets. It stated that it will continue to promote compliance access for U.S. market participants to Hyperliquid and HIP-4 outcome markets and will maintain communication with the CFTC.

The "Global RWA Digital Agriculture Ecological Summit" co-hosted by RWA Global Incubation Alliance and City Arrow Tower was successfully held today in Hong Kong. This summit focused on in-depth discussions on the application of RWA in the agricultural sector, as well as how agricultural infrastructure can achieve assetization and connect with global capital through digitization and financial structures.The conference emphasized the construction of agricultural RWA models, IoT data-driven asset confirmation, and pathways for SPVs and capital markets. Guests shared cutting-edge insights and practical experiences from multiple dimensions of industry, technology, and finance, further promoting the integrated development of physical agriculture and the Web3 financial system.This event received strong support from strategic partners such as GreenX, GreenPro Capital Corp, the Malaysia ESG Association, and the XGT Foundation, collectively facilitating the exchange and cooperation of the global RWA digital agriculture ecosystem.

Crypto journalist Eleanor Terrett posted on the X platform that Patrick Witt, the Executive Director of the White House Cryptocurrency Council, attended a Senate Republican meeting on cryptocurrency market structure.After the meeting, Lummis told reporters that negotiations around yields and returns are making progress but are still in a "delicate state," with the focus shifting from the upcoming legislative text to "the parties that need to be engaged." Lummis stated that the meeting provided an unexpectedly forward path. Patrick Witt appeared frustrated after the meeting and did not comment on the content of the meeting. Tim Scott also declined to comment afterward, stating he would not be giving interviews to reporters in the hallway.

Trust Wallet posted on platform X that it is collaborating with Binance to provide a fast verification pathway for a specific group of users affected by the browser extension v2.68 incident, in order to simplify and expedite the compensation process.Binance.com users who deposited funds into the stolen wallet from their Binance accounts before December 24, 2025, can confirm ownership using their Binance accounts. Eligible affected users will receive an email notification from the Trust Wallet support team and will need to submit a verification video as instructed. Users who do not meet the fast verification criteria will continue with the original compensation process.

According to ChainCatcher news, the official social media announcement states that the HTX DAO listing recommendation channel has officially opened. From now on, community users can recommend quality projects through the following three methods:Post a separate thread on the HTX DAO forum to recommend a project;Participate in topic discussions in the Huobi HTX App community;Post on the X platform with the topic #HTXVoteToList.To enhance the reference value of the recommendations, HTX DAO suggests that users include the following information when publishing related content: project name, project description, reasons for recommendation, whether there has been contact with the project party, and links to the white paper or other core materials.It is reported that once a project passes the preliminary review, it can enter the "Community Recommended Candidate List." Starting from July 22, users holding $HTX can vote for priority recommended projects through the HTX DAO Vote Tool. The final winning project will be submitted to the Huobi HTX exchange for review and is expected to go live, with the first round results announced on July 29. Additionally, all users participating in recommendations and voting will have the chance to share a prize pool of nearly 10 billion $HTX.

According to ChainCatcher news and reported by CNBC, the White House has released a cryptocurrency regulatory framework, including how the financial services industry should develop more convenient cross-border transactions and how to combat fraud in digital assets. The document indicates that President Biden will assess whether to call on Congress to amend the Bank Secrecy Act, anti-money laundering regulations, and laws prohibiting unlicensed entities from trading, to clarify their applicability to digital asset service providers, including digital asset trading platforms and NFT platforms. President Biden is also considering whether to push Congress to increase penalties for unlicensed trading and possibly amend certain federal regulations to allow the Department of Justice to prosecute digital asset crimes in any jurisdiction where victims of these crimes are found.Regarding the digital dollar, the framework points out that CBDCs can make payment systems more efficient, provide a foundation for further technological innovation, facilitate faster cross-border transactions, and have environmental sustainability. It urges the Federal Reserve to continue its ongoing research, experimentation, and evaluation of CBDCs. In terms of stablecoins, the framework believes that without appropriate regulatory oversight, stablecoins could be disruptive. To make stablecoins safer, the Treasury will work with financial institutions to enhance their ability to identify and remediate network vulnerabilities, as well as identify, track, and analyze emerging strategic risks related to the digital asset market, through information sharing and promoting broad datasets and analytical tools, and collaborating with other agencies. (Source link)