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<v Speaker 1>Hey there, it's Saturday, August first, and I'm Alex. Welcome

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<v Speaker 1>back to the Daily Pulse. By the end of this episode,

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<v Speaker 1>you'll see why a major cold wallet hack and a

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<v Speaker 1>new New York stable coin rule should completely change how

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<v Speaker 1>you think about where your crypto sleeps. If you've been

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<v Speaker 1>assuming your hardware wallet is basically fort Knox, today's story

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<v Speaker 1>might sting a little, but don't worry. We'll break it

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<v Speaker 1>down together. But first, a quick word from our sponsor. Okay,

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<v Speaker 1>so here's what's happening. Tether posted a massive second quarter profit,

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<v Speaker 1>but their reserve buffer just got cut in half. While

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<v Speaker 1>supply keeps climbing, Investors are watching closely to see if

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<v Speaker 1>that cushion holds over. In the markets, things were pretty

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<v Speaker 1>quiet today. Bitcoin hovered around sixty three thousand dollars and

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<v Speaker 1>the total value of the whole crypto space sat over

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<v Speaker 1>two trillion. No massive swings anywhere, really, everyone seems to

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<v Speaker 1>be taking a breath before making their next big move.

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<v Speaker 1>First up, a serious security alert. A vulnerability linked to

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<v Speaker 1>cold card hardware wallets just drained seventy million dollars in bitcoin.

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<v Speaker 1>Galaxy research points out that the flaw didn't actually touch

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<v Speaker 1>the devices themselves. It was a supply chain issue. Think

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<v Speaker 1>of it like a thief copying your house key from

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<v Speaker 1>a photo instead of picking the lock. The takeaway self

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<v Speaker 1>custody just got a reality check. Your hardware is only

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<v Speaker 1>as safe as the people who made it. Will want

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<v Speaker 1>to watch for any sudden moves from long dormant wallets

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<v Speaker 1>this week. If those sleeping accounts stay quiet, this was

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<v Speaker 1>likely a contained batch. On a brighter note, Bitcoin exchange

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<v Speaker 1>traded funds wrapped up July in the green. Even with

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<v Speaker 1>some selling pressure toward the end of the month. Institutional

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<v Speaker 1>buyers didn't actually flee, They just paused, meaning the late

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<v Speaker 1>month dip was just noise rather than a reversal of

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<v Speaker 1>the buying trend. Why this matters. If inflows turned positive

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<v Speaker 1>for five straight days in August, July's gains were just

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<v Speaker 1>the starting line. If outflows pick back up, then that

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<v Speaker 1>late month selling was the real warning sign. Then there's Circle,

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<v Speaker 1>the company behind USDC. They just secured a New York

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<v Speaker 1>trust charter for their stable cooin business. That's a regulatory

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<v Speaker 1>badge most crypto companies can't even apply for. What does

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<v Speaker 1>that mean for you? It allows USDC to work directly.

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<v Speaker 1>With New York financial institutions cutting out the middlemen, stable

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<v Speaker 1>cooin infrastructure is finally getting a proper on ramp in

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<v Speaker 1>the strictest US market. If other states follow New York's

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<v Speaker 1>lead within six months, USDC builds a serious mote if

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<v Speaker 1>regulators pull back, though it's mostly a symbolic win. In

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<v Speaker 1>the decentralized finance space, uniewap is making a bold play

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<v Speaker 1>on robin Hood chain. According to reports from Bankless, liquidity

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<v Speaker 1>always follows users, so UNISWAP planting flags on a retail

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<v Speaker 1>broker's network is basically bringing everyday folks right to the

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<v Speaker 1>door of decentralized trading. The watch condition here is simple.

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<v Speaker 1>If uniewaps total locked value on that chain tops one

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<v Speaker 1>billion dollars in thirty days, the migration is legit. If

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<v Speaker 1>it stays under one hundred million, it's probably just a

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<v Speaker 1>press release. Finally, offline storage isn't bulletproof, which is why

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<v Speaker 1>binance founder cz is doubling down on spreading your coins

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<v Speaker 1>across multiple wallets. After that seventy million dollar drain, the

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<v Speaker 1>market barely reacted to the news, and bitcoin dipped just

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<v Speaker 1>a fraction of a percent. The thing to keep an

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<v Speaker 1>eye on is whether we see follow up reporting on

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<v Speaker 1>additional hardware flaws surfacing soon and circling back to tether.

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<v Speaker 1>That one point five billion dollar profit looks great on paper,

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<v Speaker 1>but their reserve buffer got sliced in half. While the

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<v Speaker 1>token supply keeps growing. They're relying on less cash backing

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<v Speaker 1>to cover more tokens in circulation. It's a tightrope walk

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<v Speaker 1>that investors are watching closely, especially with DeFi liquidity thinning out.

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<v Speaker 1>All right, before we get into the risks, quick word

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<v Speaker 1>from our sponsor. Okay, we're back. Let's talk about what

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<v Speaker 1>to watch for. Let's look at the bigger picture. Risks

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<v Speaker 1>first sentiment is still pretty cautious. The fear in Greed

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<v Speaker 1>index is sitting in the high twenties, which puts us

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<v Speaker 1>firmly in fear. Territory buyers are hesitating despite those July

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<v Speaker 1>fund gains. A drop below twenty would signal actual panic,

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<v Speaker 1>not a buying opportunity. Second, defile liquidity is getting thin.

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<v Speaker 1>Total value locked fell a couple percent in a single

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<v Speaker 1>day to seventy four billion dollars, while stable coin supply

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<v Speaker 1>barely budged. Capital is currently sitting in cash, not chasing risk. Third,

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<v Speaker 1>we're looking at a potential wave of custody exploits that

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<v Speaker 1>cold card drain proves offline wallets aren't fool proof, and

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<v Speaker 1>more hardware glitches could easily pop up. Finally, the synthesis

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<v Speaker 1>steady stable coin growth and resilient funds are masking thin,

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<v Speaker 1>defile liquidity and shaky trust in hardware storage. The whole

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<v Speaker 1>setup changes if Bitcoin holds above sixty three thousand dollars

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<v Speaker 1>and the usdt PEG stays flat through Friday. Looking ahead

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<v Speaker 1>to the next week, three things deserve your attention. First,

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<v Speaker 1>Federal Reserve commentary is rolling out constantly fed speeches directly

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<v Speaker 1>drive how much risk appetite exists for bitcoin and stable coins,

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<v Speaker 1>so watch for any shifts in tone. Second, we're in

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<v Speaker 1>an August volatility window. Analysts believe the forced selling is exhausted,

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<v Speaker 1>but expect choppy price action all month long, so keep

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<v Speaker 1>an eye on fun flows. Third, the Bank of Italy

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<v Speaker 1>is reviewing its stable coin study this week. If they

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<v Speaker 1>find no real cost advantage to using stable coins for remittances,

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<v Speaker 1>it could heavily shape European policy. Watch for any regulatory pushback.

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<v Speaker 1>The big picture takeaway tethers thinner reserves and falling defile

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<v Speaker 1>liquidity could nudge bitcoin below sixty three thousand dollars this week,

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<v Speaker 1>with FED commentary acting as the main swing factor. If

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<v Speaker 1>you got something out of this, send it to a

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<v Speaker 1>friend who's into crypto. That's the best way to support us.

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<v Speaker 1>This is educational content, not investment advice. Always do your

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<v Speaker 1>own research. I'm Alex, See you next time.