DeFi Education Fund called on the Senate Banking Committee to frame a key crypto market bill in a more tech-neutral way and strengthen crypto developer protections in a recent letter.

DeFi Education Fund urges Senate to strengthen crypto dev protections in draft bill

ARK Invest bought $30 million in Coinbase and $17 million in BitMine shares on 
Friday amid price dips.

ARK Invest scoops up Coinbase, BitMine shares amid stock dips

As the market soared in July, crypto hacks also saw a significant increase 
from the previous month, with crypto exchanges losing over $100 million in the 
past 30 days. This follows a concerning trend that has been developing this 
year, which suggests that theft from digital asset services could reach a new 
milestone by the end of 2025. Related Reading: ‘Hated Rally’ Coming? Pump.Fun 
(PUMP) Soars 30% From Lows Amid Token Buybacks Crypto Exchanges Lose $114 
Million In July On Friday, security firm PeckShield noted that the total 
losses from crypto hacks reached $142 million in July, with crypto exchanges 
topping the list. CoinDCX, GMX, and BigONE recorded 80% of the total losses. 
Notably, Indian exchange CoinDCX suffered the highest loss of the month after 
a security breach on July 19 resulted in the transfer of $44 million in USDT 
from one of the platform’s wallets to six unknown personal wallets. Hackers 
were able to access the crypto exchange’s system after compromising an 
employee’s login credentials. Recent reports revealed that the employee was 
allegedly lured into a fake job task and persuaded to download and use his 
CoinDCX-designated laptop to complete tasks, unsuspectingly downloading files 
with malware. Meanwhile, Perpetual and spot crypto exchange GMX recorded the 
second-largest hack of the month after losing around $42 million on July 9 
when an attacker exploited a vulnerability in the protocol’s first version on 
Arbitrum. GMX V1’s vault contract had a vulnerability that allowed the 
attacker to manipulate the GLP token price through the system’s calculations, 
resulting in approximately $42 million worth of assets being transferred from 
the GLP pool to an unknown wallet. Nonetheless, the incident saw a happy 
ending after the hacker accepted a white-hat bounty and returned most of the 
funds. As reported by NewsBTC, the exploiter returned $10.49 million worth of 
FRAX and 10,000 ETH, valued at $30 million, on July 11. 2025 Alarming Trend 
Continues Based on data from PeckShield’s previous reports, Q2 showed a 
diminishing trend in total crypto losses, with May and June recording 40% and 
56% month-on-month (MoM) declines, respectively. However, the short-term trend 
changed in July as the total value of stolen funds surged 27.2% from June’s 
$111.6 million. Additionally, the total number of major incidents slightly 
increased by 13.3%, from 15 registered incidents in June to 17 hacks in July. 
This follows a broader trend developing this year, as Chainalysis explained on 
its “2025 Crypto Crime Mid-Year Update.” In the report, the on-chain analytics 
firm revealed that crypto theft this year has been “more devastating” than the 
entirety of 2024, with over $2.7 billion worth of funds stolen from crypto 
services in the first half. Related Reading: Ethereum Celebrates 10 Years: 
Coinbase CEO Shares Vitalik Buterin Anecdote As ETH Eyes $4,000 By the end of 
June, more value had been stolen year-to-date (YTD) than during the same 
period in 2022, suggesting that theft from crypto services could potentially 
increase another 60% by year’s end. Additionally, YTD activity shows a steeper 
trajectory into the end of the first half, with an alarming velocity and 
consistency, than in previous years. For reference, 2025 required 142 days to 
hit the $2 billion mark in value stolen from platforms, while 2022 reached 
this volume in 214 days. “If this trend continues, we could see 2025 end with 
more than $4.3 billion stolen from services alone,” the report forecasted. 
Featured Image from Unsplash.com, Chart from TradingView.com

Crypto Hacks Surge 27% In July: $142M Stolen As 2025 Trend Continues

A general partner at the prominent venture capital firm is shedding light on a 
new shady banking practice designed to undercut the crypto industry. A16z 
Warns of JPMorgan’s ‘Operation Chokepoint 3.0’ Tactics Despite JPMorgan CEO 
Jamie Dimon publicly confessing that he is now “a believer in stablecoins,” 
one general partner at Silicon Valley venture firm […]

JPMorgan Implementing ‘Operation Chokepoint 3.0,’ Andreessen Horowitz Says

Bitcoin (BTC) is facing renewed downward pressure as it struggles to maintain 
levels above $115,000. At the time of writing, the cryptocurrency is trading 
around $115,745, down approximately 2.2% in the past 24 hours and nearly 6% 
below its July all-time high of $123,000. The latest market movement has 
raised questions about short-term price stability, particularly amid growing 
concerns over weak structural support in the current trading zone. Recent data 
from on-chain analytics platform CryptoQuant suggests that while long-term 
holders remain largely profitable, short-term sentiment has shifted. Related 
Reading: Bitcoin’s Next Big Move? Cooling Futures Market Hints at Possible 
Breakout Bitcoin UTXO Data Points to Changing Investor Behavior Activity among 
Bitcoin Unspent Transaction Outputs (UTXOs), a metric that tracks coins being 
spent either in profit or at a loss, indicates that many investors are 
beginning to react to smaller price drops, potentially signaling increased 
market uncertainty. In a recent analysis on CryptoQuant’s QuickTake platform, 
contributor Darkfost shared insights on how UTXO activity can reflect broader 
market sentiment. “This chart, based on UTXOs from block data, highlights the 
number of UTXOs spent either in profit or in loss,” the analyst wrote, noting 
that this approach focuses on transaction count rather than value, helping 
filter out price-based noise. Historically, Bitcoin has seen a dominance of 
UTXOs spent in profit, with patient holders benefiting from long-term 
appreciation. Between July 11 and 13, the ratio of profitable UTXOs compared 
to those spent at a loss surged above 10,000, meaning for every loss-making 
spend, there were over ten thousand profitable ones. However, this ratio has 
since declined to around 500, suggesting that some investors are now closing 
positions at a loss even with minor price retracements. This change, according 
to Darkfost, may indicate short-term selling pressure despite the overall 
profitable status of most holders. Weak Support Structure Adds to Downside 
Risk Another CryptoQuant analyst, Maartunn, highlighted structural weaknesses 
in Bitcoin’s recent price surge. On July 10, BTC rapidly climbed from $112,000 
to $115,800, but this upward move left little on-chain support in the price 
range. Bitcoin Teleported from $112 to $115.8K – But There&#8217;s Thin Air Below 
“From a technical point of view, there’s no past resistance or consolidation 
that could now act as support. If this final support area breaks, price could 
move down quickly.” – By @JA_Maartun pic.twitter.com/a3hQoANfDc — 
CryptoQuant.com (@cryptoquant_com) August 1, 2025 “The move happened so 
quickly that no support levels were formed,” the analyst explained. “If 
momentum drops or sellers step in, the price could fall just as fast as it 
rose.” Related Reading: Bitcoin’s Calm Before the Storm? Binance Data Points 
to Big Shift Ahead With Bitcoin now hovering just above its last known on- 
chain support zone, analysts caution that a failure to hold this level could 
accelerate the decline. Featured image created with DALL-E, Chart from 
TradingView

Bitcoin’s $115K Struggle: Is a Deeper Drop on the Horizon?

This content is provided by a sponsor. PRESS RELEASE. Geneva, Switzerland – 
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dominance in the global stablecoin ecosystem, […]