Speaker 1: Hey there, it's Saturday, August first, and I'm Alex. Welcome
Speaker 1: back to the Daily Pulse. By the end of this episode,
Speaker 1: you'll see why a major cold wallet hack and a
Speaker 1: new New York stable coin rule should completely change how
Speaker 1: you think about where your crypto sleeps. If you've been
Speaker 1: assuming your hardware wallet is basically fort Knox, today's story
Speaker 1: might sting a little, but don't worry. We'll break it
Speaker 1: down together. But first, a quick word from our sponsor. Okay,
Speaker 1: so here's what's happening. Tether posted a massive second quarter profit,
Speaker 1: but their reserve buffer just got cut in half. While
Speaker 1: supply keeps climbing, Investors are watching closely to see if
Speaker 1: that cushion holds over. In the markets, things were pretty
Speaker 1: quiet today. Bitcoin hovered around sixty three thousand dollars and
Speaker 1: the total value of the whole crypto space sat over
Speaker 1: two trillion. No massive swings anywhere, really, everyone seems to
Speaker 1: be taking a breath before making their next big move.
Speaker 1: First up, a serious security alert. A vulnerability linked to
Speaker 1: cold card hardware wallets just drained seventy million dollars in bitcoin.
Speaker 1: Galaxy research points out that the flaw didn't actually touch
Speaker 1: the devices themselves. It was a supply chain issue. Think
Speaker 1: of it like a thief copying your house key from
Speaker 1: a photo instead of picking the lock. The takeaway self
Speaker 1: custody just got a reality check. Your hardware is only
Speaker 1: as safe as the people who made it. Will want
Speaker 1: to watch for any sudden moves from long dormant wallets
Speaker 1: this week. If those sleeping accounts stay quiet, this was
Speaker 1: likely a contained batch. On a brighter note, Bitcoin exchange
Speaker 1: traded funds wrapped up July in the green. Even with
Speaker 1: some selling pressure toward the end of the month. Institutional
Speaker 1: buyers didn't actually flee, They just paused, meaning the late
Speaker 1: month dip was just noise rather than a reversal of
Speaker 1: the buying trend. Why this matters. If inflows turned positive
Speaker 1: for five straight days in August, July's gains were just
Speaker 1: the starting line. If outflows pick back up, then that
Speaker 1: late month selling was the real warning sign. Then there's Circle,
Speaker 1: the company behind USDC. They just secured a New York
Speaker 1: trust charter for their stable cooin business. That's a regulatory
Speaker 1: badge most crypto companies can't even apply for. What does
Speaker 1: that mean for you? It allows USDC to work directly.
Speaker 1: With New York financial institutions cutting out the middlemen, stable
Speaker 1: cooin infrastructure is finally getting a proper on ramp in
Speaker 1: the strictest US market. If other states follow New York's
Speaker 1: lead within six months, USDC builds a serious mote if
Speaker 1: regulators pull back, though it's mostly a symbolic win. In
Speaker 1: the decentralized finance space, uniewap is making a bold play
Speaker 1: on robin Hood chain. According to reports from Bankless, liquidity
Speaker 1: always follows users, so UNISWAP planting flags on a retail
Speaker 1: broker's network is basically bringing everyday folks right to the
Speaker 1: door of decentralized trading. The watch condition here is simple.
Speaker 1: If uniewaps total locked value on that chain tops one
Speaker 1: billion dollars in thirty days, the migration is legit. If
Speaker 1: it stays under one hundred million, it's probably just a
Speaker 1: press release. Finally, offline storage isn't bulletproof, which is why
Speaker 1: binance founder cz is doubling down on spreading your coins
Speaker 1: across multiple wallets. After that seventy million dollar drain, the
Speaker 1: market barely reacted to the news, and bitcoin dipped just
Speaker 1: a fraction of a percent. The thing to keep an
Speaker 1: eye on is whether we see follow up reporting on
Speaker 1: additional hardware flaws surfacing soon and circling back to tether.
Speaker 1: That one point five billion dollar profit looks great on paper,
Speaker 1: but their reserve buffer got sliced in half. While the
Speaker 1: token supply keeps growing. They're relying on less cash backing
Speaker 1: to cover more tokens in circulation. It's a tightrope walk
Speaker 1: that investors are watching closely, especially with DeFi liquidity thinning out.
Speaker 1: All right, before we get into the risks, quick word
Speaker 1: from our sponsor. Okay, we're back. Let's talk about what
Speaker 1: to watch for. Let's look at the bigger picture. Risks
Speaker 1: first sentiment is still pretty cautious. The fear in Greed
Speaker 1: index is sitting in the high twenties, which puts us
Speaker 1: firmly in fear. Territory buyers are hesitating despite those July
Speaker 1: fund gains. A drop below twenty would signal actual panic,
Speaker 1: not a buying opportunity. Second, defile liquidity is getting thin.
Speaker 1: Total value locked fell a couple percent in a single
Speaker 1: day to seventy four billion dollars, while stable coin supply
Speaker 1: barely budged. Capital is currently sitting in cash, not chasing risk. Third,
Speaker 1: we're looking at a potential wave of custody exploits that
Speaker 1: cold card drain proves offline wallets aren't fool proof, and
Speaker 1: more hardware glitches could easily pop up. Finally, the synthesis
Speaker 1: steady stable coin growth and resilient funds are masking thin,
Speaker 1: defile liquidity and shaky trust in hardware storage. The whole
Speaker 1: setup changes if Bitcoin holds above sixty three thousand dollars
Speaker 1: and the usdt PEG stays flat through Friday. Looking ahead
Speaker 1: to the next week, three things deserve your attention. First,
Speaker 1: Federal Reserve commentary is rolling out constantly fed speeches directly
Speaker 1: drive how much risk appetite exists for bitcoin and stable coins,
Speaker 1: so watch for any shifts in tone. Second, we're in
Speaker 1: an August volatility window. Analysts believe the forced selling is exhausted,
Speaker 1: but expect choppy price action all month long, so keep
Speaker 1: an eye on fun flows. Third, the Bank of Italy
Speaker 1: is reviewing its stable coin study this week. If they
Speaker 1: find no real cost advantage to using stable coins for remittances,
Speaker 1: it could heavily shape European policy. Watch for any regulatory pushback.
Speaker 1: The big picture takeaway tethers thinner reserves and falling defile
Speaker 1: liquidity could nudge bitcoin below sixty three thousand dollars this week,
Speaker 1: with FED commentary acting as the main swing factor. If
Speaker 1: you got something out of this, send it to a
Speaker 1: friend who's into crypto. That's the best way to support us.
Speaker 1: This is educational content, not investment advice. Always do your
Speaker 1: own research. I'm Alex, See you next time.