CryptoSlate News

Ethereum spent 8 years making hashes friendlier to SNARKs. Now faster proof systems are flipping the tradeoff. The Ethereum Foundation is pivoting future L1 design from Poseidon toward SHA or BLAKE—but Poseidon is not broken, and no migration or fork is underway. https://cryptoslate.com/ethereum-abandons-its-8-year-cryptography-bet-after-proof-systems-flip-the-tradeoff/

🚨 URGENT: CyberWallet and Passkey Wallet face an Aug. 15 cutoff, but Cyber has not published a shutdown time or timezone. Tokens stay on-chain, but post-shutdown recovery requires direct smart-contract interaction Cyber says it will not support. https://cryptoslate.com/cyberwallet-users-have-until-aug-15-before-crypto-withdrawals-become-a-smart-contract-recovery-job/

Prediction markets are becoming screenable like stocks—but the prices can hide important context. An unreviewed study of ~23M Kalshi sports trades found calibration weakened in the final 10 minutes. A 63% contract price is not always a clean 63% forecast. https://cryptoslate.com/prediction-markets-are-becoming-financial-data-but-a-63-price-does-not-always-mean-63-odds/

📊 DATA: Norway’s sovereign fund reached 11,549 BTC of indirect exposure, up 60% YoY—without buying Bitcoin. The catch: 85.8% came through Strategy, while BTC-linked exposure still fell to just 0.03% of total assets. https://cryptoslate.com/norways-sovereign-fund-reaches-record-11549-btc-exposure-without-buying-more-bitcoin/

📊 DATA: US spot Bitcoin ETFs lost $332M in four sessions, erasing 38% of the prior week’s rebound as BTC fell below $63,000. The catch: August flows are still $521M net positive. https://cryptoslate.com/bitcoins-etf-rebound-just-lost-38-of-its-gains-in-four-sessions-as-btc-fell-below-63000/

KULR sold about 333 BTC for $21.5M, repaid its $20M Coinbase loan, and shut down Bitcoin mining. The bigger shift: BTC is no longer an accumulation asset—it’s now liquidity for a core business that just posted a $21.97M quarterly loss. https://cryptoslate.com/another-public-company-abandons-bitcoin-playbook-after-treasury-volatility-wiped-out-profits-and-triggered-a-22-million-loss/

MSCI’s own simulation already flags Strategy for deletion under its proposed rules—a move JPMorgan previously estimated could trigger ~$2.8B in passive MSTR selling. The catch: existing constituents must fail the test across two annual reviews before removal. https://cryptoslate.com/strategy-tells-msci-bitcoin-doesnt-need-you-as-2-8-billion-index-risk-hangs-over-mstr/

🗞 Top Crypto News: Fri, Aug 14 (24H) (CryptoSlate) 1️⃣ SEC cancels crypto fundraising meeting, leaving token issuers with no new path to fund development (Source) 2️⃣ FG Nexus dumped all its Ethereum at a $45 million loss to buy mobile home parks—after earning just $144,000 in staking rewards (Source) 3️⃣ Multicoin exits the $1.65 billion Solana treasury company it helped launch eight months ago (Source) 4️⃣ Solana treasury company shutters its SOL accelerator as a $27 million quarterly reversal forces deep cuts (Source) 5️⃣ Morgan Stanley’s Bitcoin ETF drew $371 million of share contributions while Bitcoin erased $66.8 million (Source) — 📈 Biggest Gainers (24H) (Source) AKEDO (AKE) +70.35% Velvet (VELVET) +35.78% Humanity Protocol (H) +24.27%

📊 DATA: Gemini’s Q2 revenue rose 37% to $45.5M even as spot trading volume collapsed 66% and exchange revenue fell 38%. The shift came from credit cards, which more than tripled revenue—but also brought higher rewards, fraud losses and credit costs. https://cryptoslate.com/latest-gemini-earnings-expose-cryptos-new-exchange-reality-more-total-revenue-less-crypto-trading/

🏛️ POLICY: The SEC canceled Friday’s crypto fundraising vote with no reason or replacement date. That leaves token issuers with no new exemption path: development raises still have to use existing securities-registration or exemption routes, while Atkins’ $75M idea remains only illustrative. https://cryptoslate.com/sec-cancels-crypto-fundraising-meeting-leaving-token-issuers-with-no-new-path-to-fund-development/

📊 DATA: UBS’s reported IBIT call exposure jumped 24x in Q2 to 1.95M underlying shares, while puts fell 52.75% to 143,300. The catch: 13F filings reveal neither option premiums nor trade purpose, so the shift cannot be cleanly read as a directional Bitcoin bet. https://cryptoslate.com/bitcoin-etf-calls-surge-24-fold-as-puts-fall-52-75-reaching-1-95m-ibit-underlying-shares/

📊 DATA: Securitize processed $5.3B in Q2 transaction volume, up 147% YoY—yet revenue fell 5% to $14.4M. The catch: volume includes subscriptions, redemptions, dividends and cross-chain moves, while operating costs jumped 56% to $24.1M. https://cryptoslate.com/tokenized-transaction-volume-surges-to-5-3-billion-but-generates-just-14m-as-costs-soar-56/

Ethereum’s quantum risk could hit banks before quantum computers do. A 2029 migration target implies banks may need to start in 2027: crypto inventories alone can take 6–12 months, before HSM upgrades, audits and regulatory review. The catch: Ethereum’s timeline is not fixed. https://cryptoslate.com/ethereums-post-quantum-roadmap-puts-banks-on-a-2027-deadline-nobody-is-talking-about/

🏛️ POLICY: Tether’s first Big Four full audit showed reserves exceeded liabilities by $6.8B. The catch: Washington’s new test is ongoing supervision—monthly disclosures, liquidity planning and reserve rules that exclude assets like gold. https://cryptoslate.com/tether-finally-got-the-audit-critics-demanded-just-as-washington-changed-the-test/