Bitcoin briefly fell below $80,000 on Thursday as analysts say profit taking has increased among crypto traders.
Hackers stole over $31.6 million in two separate crypto bridge exploits targeting AFX's Arbitrum bridge ($24.15M) and the Verus Ethereum Bridge ($7.5M) within hours. Blockaid detected both attacks, with the AFX incident likely due to compromised validator keys, underscoring persistent security risks for cross-chain bridges.
Bitcoin held firm near five-week highs despite escalating US-Iran tensions, with US stocks also shrugging off risks. Analysts suggest a potential short squeeze in the S&P 500, while some traders predict Bitcoin will outperform US stocks in the foreseeable future.
The Digital Chamber is suing the State of Illinois over a 0.2% crypto transaction tax set to take effect in 2027, alleging it was 'slipped into the state’s budget' without debate and discriminates against digital asset transactors regardless of gain or ownership transfer.
SEC Commissioner Hester Peirce stated that crypto vaults and onchain lending products, especially those involving discretionary asset management, may fall under US federal securities laws, urging developers to assess compliance.
Galaxy Digital pledged up to $5 million to help Bitcoin prepare for quantum computing threats by funding research, post-quantum signature integration, and migration tools. The decentralized network requires years of coordination for an upgrade.
Foundry USA, the world's largest Bitcoin mining pool, has opened voting for its customers on Bitcoin Improvement Proposal (BIP-110), a soft fork aiming to limit non-monetary transactions like Ordinals. The proposal faces opposition from industry leaders Adam Back and Michael Saylor, who warn of potential user fund freezes and transaction invalidation.
