GoKawiil
Tech News
Bitcoin rose 37% over 39 days to reach an eight-month high near $86,000 on Monday, according to Yahoo Finance. The rally followed Congress's failure to pass a crypto 'Clarity Act' and the SEC's announcement of a five-year 'innovation exemption' allowing tokenized U.S. stocks to trade via automated market makers on public blockchains, per CoinDesk.
Nature's Futures section has published a short story titled 'The Courier,' depicting a near-future lawyer navigating AI-driven policing, cryptocurrency payments, and legal privilege while extracting a client from custody. The narrative follows the protagonist and a driver called Big Citrus as they leave an LAPD precinct in an old, spyware-free car, discussing legal boundaries during the ride.
After the Clarity Act failed to advance in the Senate, the SEC issued an order creating a temporary pathway for trading tokenized stocks, and the CFTC submitted a crypto rulemaking proposal to the White House for review the same day. Details of the CFTC proposal have not been made public, though the Office of Management and Budget confirmed it is pending review.
Bitcoin surged past $85,000 on Monday morning, hitting an intraday high of $85,229 before settling near $84,256, a gain of roughly 3.8% on the day. The move extends a multi-day rally that has pushed the token up more than 7% over five days and nearly 35% over three months, though it remains far below its October peak above $126,000.
Polymarket's aggressive push for growth reportedly outpaced its fraud controls, creating vulnerabilities that bad actors were able to exploit. The prediction market platform's scaling priorities appear to have left compliance and security measures lagging behind user growth.
On September 11, an attacker exploited two flaws in Symbiosis Finance's smart contracts: a hidden privilege-escalation bug granting fake admin rights, and a missing check that allowed negative transaction fees. Using just 330 satoshi, roughly 25 cents, the attacker set fees to negative values across 12 transactions, minting 46 billion wrapped syBTC tokens on a network meant to represent real Bitcoin. They then sold the fabricated tokens against legitimate wrapped-BTC pairs like WBTC and cbBTC, draining liquidity pools and converting about $336,000 into cash via Uniswap before being blocked.
A major legislative priority backed by the cryptocurrency industry failed to secure the 60 votes needed to advance to a full Senate floor debate. The setback comes despite heavy lobbying and campaign spending by crypto interests aimed at shaping favorable regulation in Congress.
A major cryptocurrency market-structure bill known as the Clarity Act has failed to advance, even after the industry poured hundreds of millions of dollars into lobbying efforts to secure its passage. The setback leaves crypto firms without the clearer federal rules they had hoped would settle long-running regulatory disputes.
The US Senate failed to muster the 60 votes needed to advance the Digital Asset Market Clarity Act, a bill meant to divide crypto oversight between the SEC and CFTC. Democrats blocked the measure over inadequate ethics provisions limiting officials, including President Trump, from profiting off crypto ventures while in office. Bitcoin, Ether, XRP, and Solana all dropped following the vote.
A Senate procedural vote to advance the Clarity Act failed 50-49, short of the 60 votes needed, halting progress on legislation meant to create a comprehensive regulatory framework for digital assets. Republicans had added ethics provisions over the weekend to address Democratic concerns about officials profiting from crypto ventures, but the changes failed to win over enough Democrats, including negotiator Sen. Ruben Gallego, who said the ethics compromise was insufficient.
Crypto firms building stablecoin payment systems are introducing dispute-resolution and reversal mechanisms similar to chargebacks used in traditional banking. This marks a shift from the original crypto ethos of irreversible, permissionless transactions toward systems that rely on third-party intermediaries to resolve fraud and errors.
A Reddit user on r/pcmasterrace posted photos of two abandoned crypto mining rigs found in a basement, containing a dozen Zotac RTX 3070 graphics cards along with DDR4 memory, SSDs, power supplies and MSI Z390 motherboards. The rigs had been used for Ethereum mining during the pandemic and sat unused after home mining stopped being profitable, with the owner giving them away once asked.