News & Research

CoinDesk senior analyst James Van Straten reported that Semler Scientific's stock is trading at a premium to its Bitcoin (BTC) holdings for the first time in three weeks, with a multiple net asset value (mNAV) of 1.149. The company’s market cap of $550 million exceeds its $477.8 million in Bitcoin holdings, suggesting a potential return to Bitcoin purchases. Semler aims to reach 10,000 BTC by year-end, but its current holding of 4,449 BTC falls short of the target.

Bitcoin (BTC) miners recorded their weakest earnings in a year, according to CryptoQuant on X. Daily revenue dropped to $34 million in June, the lowest level since April, as declining transaction fees and a falling Bitcoin price continue to erode profit margins.

Decentralized identity infrastructure provider Trusta.AI announced on X that it has closed a strategic funding round at an $80 million valuation, backed by investors including ConsenSys, Starknet, GSR and UFLY Labs.

Resupply, a decentralized stablecoin protocol that suffered a $9.5 million exploit, said on X that the attack was limited to the wstUSR market. The team added that the compromised contract has been identified and paused and the rest of the protocol remains operational. A full post-mortem will be released once the investigation is complete.

Resupply, a stablecoin protocol connected to lending market liquidity, was exploited for about $9.5 million through manipulated exchange rates, according to The Block. The attacker inflated the value of cvcrvUSD, a wrapped version of Curve USD staked in Convex Finance, causing a rate collapse. This manipulation enabled the attacker to borrow 10 million reUSD.

UK-based web development firm The Smarter Web Company has announced through an official statement that it raised £41.2 million (approximately $56.45 million) through an accelerated bookbuild and subscription with institutional and qualified investors. The company has committed to purchasing Bitcoin (BTC) over the next decade and currently holds more than 543 BTC.

Strategy (formerly MicroStrategy), the largest corporate holder of BTC, saw its executives including the vice president and chief financial officer sell $40.3 million worth of stock over the past 90 days. According to Protos, most of the sales were carried out through pre-scheduled plans using stock options and other equity-based compensation.

A hacker who exploited Cork Protocol laundered 4,520 ETH (about $11 million) through Tornado Cash. According to Jinse Finance, the hacker later donated 10 ETH (around $24,000) to the legal fund of Tornado Cash co-founder Roman Storm. In response, Storm wrote on X that his legal defense fund cannot accept funds from a hacker and that the 10 ETH will be returned to the Cork team.

South Korean prosecutors have raided a group accused of earning billions of won in fees through unregistered foreign exchange operations, seizing 4.4 billion won ($3.2 million) worth of cryptocurrencies, including Ethereum (ETH), Yonhap News reported. The group is suspected of conducting illegal currency exchanges over the past six years by receiving funds from individuals and using online payment platforms to top up accounts in different currencies, profiting from transaction fees.

The Supreme Court of South Korea has upheld a 10-year prison sentence for Mr. Bang, a major shareholder of B&S Holdings. He was convicted for his role in the suspension of withdrawals at Haru Invest, a digital asset management platform, and the now-bankrupt crypto lender Delio. According to Digital Asset, he defrauded Haru Invest and Traum Infotech, a blockchain-based trading system developer, of approximately 60 billion won (about $44.22 million) following the collapse of the crypto exchange FTX in November 2022.