BeInCrypto reports that Chainalysis data identifies $457 billion in crypto taxable activity for 2025. Under current CARF reporting rules, governments can only see 14% of this total volume. This visibility gap highlights significant portions of crypto transactions remaining outside immediate regulatory view. The data suggests a large disparity between actual taxable activity and what is currently reportable.
Finance.yahoo.com reports that hackers stole $130 million in Bitcoin from Coldcard hardware wallets due to weak random number generators in the devices. The breach occurred in late July and early August, allowing attackers to derive private keys and steal funds remotely. This event undermines trust in self-custody and suggests a shift toward institutional solutions like spot Bitcoin ETFs. The incident highlights that controlling private keys is insufficient if the seed phrase generation is flawed. Coinkite has released new firmware to address the security issue, but rebuilding market confidence remains difficult. The loss of $130 million serves as a significant warning for investors relying on specific hardware wallets. This development challenges the core Bitcoin philosophy of individual financial empowerment through self-custody.
inbitcoinwetrust.substack.com reports that Better Mortgage and Coinbase funded the first Fannie Mae-backed mortgage using Bitcoin as collateral. A couple in Ann Arbor, Michigan, used approximately $250,000 in Bitcoin to secure a $100,000 down-payment loan for a $500,000 home. The Bitcoin remained in custody at Coinbase Prime and was not sold, allowing the borrowers to retain economic ownership. The structure combines the down-payment loan with a standard $400,000 conforming mortgage into a single payment. Liquidation risk is tied to payment delinquency rather than Bitcoin price drops, distinguishing it from typical crypto-backed loans. This development marks a shift from Bitcoin as a speculative asset to a usable credit instrument within the traditional American financial system.
JST
Neutral