Blockstream Debuts Bitcoin Swaps For Moving Between Lightning

Bitcoin infrastructure company Blockstream has announced a new feature allowing users to make trustless swaps. 

Dubbed Blockstream Swaps, the idea is that Bitcoiners will be able to quickly move between the main chain and Lightning network. 

It comes after non-custodial Bitcoin swap provider Boltz suspended its service after it said attackers were finding vulnerabilities faster than its team could fix using AI. 

“In support of the broader Bitcoin and Liquid ecosystem, Blockstream is launching Blockstream Swaps,” Blockstream said. 

“This initiative was already under development to ensure a resilient suite of utility for the ecosystem, and it complements the…

Read more on BitcoinMagazine

BTCPay Server Offers 3 BTC Bounty

Supporters of BTCPay Server have committed to funding a bounty of up to three Bitcoins for the recovery of funds stolen through a recently disclosed vulnerability in the open-source bitcoin payment processor, the project said in a statement.

The bounty is set at 10 percent of whatever is recovered, capped at three coins in the event of a full recovery. 

The project even extended the offer to the attacker directly alongside anyone else holding actionable information, directing them to a dedicated security address and offering Signal or other encrypted channels on request. 

Hackers last week managed to extract Lightning Network admin macaroon credentials from affected BTCPay Server…

Read more on BitcoinMagazine

Bitcoin ETFs See Biggest Inflows Since April

American Bitcoin exchange-traded funds have had their biggest weekly inflow since April, taking in $850 million last week, according to Bloomberg figures. 

The major U.S. funds managed by BlackRock, Fidelity, Grayscale, Morgan Stanley and others have received the cash the week after hackers targeted Coinkite’s popular Coldcard product.

Hackers started stealing millions in Bitcoin from Coldcard wallets after discovering a vulnerability in the product’s software. Some estimates put the amount of Bitcoin lost now at over $130 million. 

JUST IN: BlackRock tells Bloomberg they’ve “seen consistently” that Bitcoin ETF investors are buying and holding BTC “long term” on this…

Read more on BitcoinMagazine

TD Cowen Gives Crypto Clarity Act A 25% Of Passing This Fall

Investment bank TD Securities has said that the long-awaited crypto Clarity Act has a slim chance of getting passed in a Monday note, citing last week’s delay and potential stalling from the Democrats. 

The bank said that now the bill won’t be passed before the summer, it only has a 25% of getting passed in September. 

Lawmakers were hoping a crucial vote on the long-awaited crypto market structure bill was to go ahead before a five-week recess but news dropped last week that there was a delay and now the Senate will vote on the bill in September. 

“The bill is not dead, but the path forward is harder,” the bank said. “We assign a 75% probability that Clarity…

Read more on BitcoinMagazine

Strategy Sells Bitcoin Again For Cash Buffer, STRC Buyback

Bitcoin treasury company Strategy on Monday announced that it again sold Bitcoin last week, and used the cash to buy back its preferred stock. 

In a filing with the Securities and Exchange Commission, the Nasdaq-listed company said it sold  1,690 coins for $108.6 million, bringing its holdings to 840,447 coins, down from 842,138 it had the week before. 

The cash, Strategy said, went to buying 1,152,020 STRC shares worth $109 million as part of a buyback program. STRC in June fell far below the $100 stated amount. 

Strategy increased its USD Reserve by $650M and repurchased $109M of $STRC. This increased USD Duration by 143 days to 2.7 yrs and tightened STRC’s BTC Credit by 10 bps….

Read more on BitcoinMagazine

BIP-110 Fork Stalls At Two Blocks As Bitcoin Miners Refuse To Follow

The Bitcoin Improvement Proposal (BIP)-110 appeared to stall at the weekend, when the nodes that support the proposal broke away from the main network and produced the chain split people had been warning about — a tiny, stalled one.

The split came Saturday at block 961,632, when the proposal entered its mandatory signaling window. Nodes running BIP-110 software began rejecting any block that failed to signal support through version bit 4. When the first block at that height arrived without the signal, those nodes rejected it and peeled away onto a separate chain.

And it has gone almost nowhere since. 

A pseudonymous mining group called Roughnecks produced both BIP-110…

Read more on BitcoinMagazine

Trump Media Pulls Back From Crypto Deals: Report

The President Donald Trump-backed media company, Trump Media and Technology Group, is pulling back from two of its crypto deals, according to a report by Axios. 

The publication reported Friday that the two deals with Crypto.com — a prediction market and treasury — would not go ahead. 

Citing comments from fusion energy company TAE’s interim CEO, Kevin McGurn, the publication said that Trump Media had pulled the deals as the market for digital asset treasury companies had become saturated over the past year.

Trump Media last year said it was working with crypto exchange Crypto.com to build a Cronos treasury with $6.4 billion in backing. Cronos is the native coin of…

Read more on BitcoinMagazine

Senators Lummis, Alsobrooks Continue Work On Clarity Act

The Clarity Act may be delayed — for now — but pro-crypto senators remain committed to the fight. 

And not just Republicans: Democratic Senator Angela Alsobrooks accompanied conservative “Bitcoin Senator” Cynthia Lummis in assuring voters that work was being done on the bill. 

Lawmakers were hoping a crucial vote on the long-awaited crypto market structure bill was to go ahead before a five-week recess but news dropped Friday that it was too little, too late. Now, the Senate will vote on the bill in September. 

JUST IN: 🇺🇸 Senator Lummis releases statement now Clarity Act vote is delayed:

“There will be a time where I can say more, but for now, let me say this, we’ve…

Read more on BitcoinMagazine

Victims Report Median Loss Of 1 BTC

New analysis of Bitcoin theft reports reveals that stolen funds overwhelmingly came from long-dormant wallets, with victims reporting a median loss of over one coin.

Data posted on X from Galaxy Research’s Alex Thorn looked at 250 victim reports and found the typical stolen coin had sat untouched for 3.5 years, and a striking 88% of pilfered funds were at least a year old. 

By address, losses ranged from a median of 0.014 Bitcoin to a mean of 0.212 Bitcoin, while individual victims reported a median loss of 1.022 Bitcoin and an average of 4.04 Bitcoin — with one unlucky holder losing as much as 58.97 coins. 

Hackers started by taking over $35 million in Bitcoin from…

Read more on BitcoinMagazine

Bitcoin Price Shrugs Off Coldcard Hack And Clarity Act Delay

Bitcoin was trading higher on Friday — despite negative news circulating regarding the Clarity Act delay and a massive exploit of the popular Coldcard wallets. 

The biggest cryptocurrency was trading above $65,170 today, up nearly 4% over the past week, despite significant headwinds against the asset. 

Little over a week ago, hackers started stealing millions in Bitcoin from Coldcard wallets after discovering a vulnerability in the product’s software. Some estimates put the amount of Bitcoin lost now at over $130 million. 

The incident has rattled the BTC community that typically praises cold storage solutions. 

And news dropped late Thursday night that the…

Read more on BitcoinMagazine