💸 CZ Says Exchanges Safer Than Self-Storage for Crypto

CZ, former head of Binance, responded to Willy Woo's data showing users lost 1.57 million BTC through self-storage versus 1.51 million BTC via exchanges. He noted that if the numbers are accurate, exchanges are statistically safer, as exchange hacks get more publicity than losses from forgotten seed phrases or user errors.

CZ suggested a balanced approach is likely the best solution. Meanwhile, Woo prefers a multisignature model over relying on a single seed phrase, citing its resilience compared to Coldcard vulnerabilities.

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💸 FBI Agent Stole $1M in Crypto, Confessed Himself

Patrick Yaroh, an FBI counterintelligence agent, stole about $1 million in crypto by finding seed phrases of hostile state wallets and transferring assets to himself 10-12 times. He said he acted out of frustration that the FBI didn’t block these accounts.

Yaroh moved funds to Kraken and sent $1.02 million to DeFi protocol Suilend via Slush, liking its water-drop logo. The probe began after he contacted a former Justice colleague on July 28 and surrendered the next day. Agents seized $925,426 in crypto from him.

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Respect your broke friends, family member, or partner.

Don’t confuse someone’s current season with their future.

Hard times don’t last forever.

The person asking for help today could be the one opening doors for you tomorrow.

Tables do turn.

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🤝 Arthur Hayes Sees AI Bubble Echoing 2008 Crisis

In a new essay for Situationship, Arthur Hayes argues the market wrongly treats AI as tech. He sees multitrillion-dollar data center investments as real estate and leverage plays.

Hayes warns the bubble may mirror 2008: infrastructure values will fall as chips get cheaper, but debt remains. He expects liquidity to return to crypto once AI investment slows, betting on Ethereum hitting $5,000 by year-end.

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🤩 Cloudflare Launches Programmable Wallet Reservations

Cloudflare opened name reservations for Cloudflare Wallets, programmable wallets letting agents pay for APIs, data, content, and MCP tools with stablecoins. Agents get readable IDs so sellers know who requests access.

There are two wallet types: a general Account Wallet for owners and a Virtual Wallet for agents, with spending limits and approved sellers. This forms Cloudflare's payment system based on the x402 standard, developed with Coinbase.

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✋ Venice Cuts Annual VVV Token Emission

Venice will reduce the annual emission of VVV tokens from 3 million to 2 million. The changes will take effect in two stages on September 1 and October 1.

This marks the seventh consecutive cut since the project launched in January 2025, lowering emissions by 86% from 14 million to 2 million tokens per year. Venice aims to make VVV a deflationary asset by buying back tokens monthly with platform revenue and burning them.

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⚡️ JUST IN: Clarity Act vote delayed until after August recess.

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❕ Bitcoin Red Team Flags Nearly 5,000 Security Issues

The volunteer group Bitcoin Red Team reported 4,962 potential security issues across 390 Bitcoin projects. They classified 85 as critical risks and 635 as high risk.

Within 29.8 hours, the team reproduced 21.4% of the findings, while the rest remain unconfirmed vulnerabilities. This review began after attacks on Coldcard hardware wallets caused losses exceeding $100 million.

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📈 Large Crypto Holders Accumulate Amid Price Pressure

According to CryptoQuant, major holders are accumulating Bitcoin, Ethereum, and XRP as prices remain under pressure. This suggests the bear market is likely in its final stage, though prices may still drop further before a clear bottom is confirmed.

Analysts note that large Bitcoin holders' balances, excluding exchanges and mining pools, have risen to about 3.06 million BTC after hitting a low near 2.87 million BTC in December. Experts describe this as capital accumulation during a bear market, where strong holders absorb the weak.

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⚡️ JUST IN: Trump Media and Technology Group, parent of Truth Social, is pulling back from two Crypto.com deals.

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surround yourself with positive vibes


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💎 Bybit Sues North Korea and Lazarus for $1.5B Hack

Bybit sued North Korea and hacker group Lazarus for stealing $1.5 billion in ETH. A US court froze some traced assets for Bybit.

The 2025 hack was crypto’s largest, with funds converted mostly to BTC via THORChain. Bybit covered losses from reserves, avoiding collapse unlike many tier-2 exchanges.

Since 2017, North Korean hackers stole about $6.75 billion in crypto. The Bybit WSOT prize pool appears secured.

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“Do so much work, it would be unreasonable for you to fail.”

-Chris Williamson

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Trader with $137 in my pocket worrying about the Strait of Hormuz and tensions in the Middle East

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“Bitcoin is a Ponzi scheme”

Meanwhile Banks:

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Men, you need to hear this..

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🪙 Trump Warns US on Crypto Leadership Loss

Trump said if the US doesn’t lead in crypto, China will take over. He stressed the US must not fall behind China in crypto or AI, calling the sector too big to lose.

He noted, "Crypto is a big deal. I see more people paying with Bitcoin and forgetting about cash." Trump also criticized the CLARITY Act proposals restricting officials' crypto trades, saying they unfairly target him while Democrats trade stocks freely.

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⚡️ JUST IN: Strategy sells 1,691 BTC over last week, increasing USD reserve by $650M.

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