Bittam Exchange Exposed: Why This Broker Is a High-Risk Platform
With a dangerously low WikiBit score of 3.06 out of 10 and serious questions surrounding its regulatory claims, Bittam Exchange has emerged as a high-risk platform that traders cannot afford to overlook.
Ethereum co-founder Vitalik Buterin 'vibe-codes' anonymous billboard demo with onchain moderation on Aztec
Vitalik Buterin has released a working demo of an anonymous message board on Aztec, allowing users to deposit ETH on Ethereum's base layer, post messages on Layer 2 with no sender address revealed, and later withdraw funds. The system includes a censor role that flags posts as "immoral," with a local LLM daemon reading an onchain moderation policy to auto-flag violations. Posting is rate-limited, with larger deposits enabling more frequent posts. The project includes formal verification with 70 proven theorems covering rate limits, censorship, privacy, and deposit safety. Buterin described it as a "vibe-coded" toy version of a concept he outlined in 2022. The code is publicly available on GitHub but is noted as early and incomplete.
Ethereum bridge users have 24 hours to exit before chain shuts down after just 5 week warning
Powerloom, a blockchain network for decentralized data infrastructure, will permanently halt at 6:00 AM UTC on July 21, giving users under 24 hours to move transferable POWER or other assets to Ethereum via the official bridge. Only liquid on-chain balances already available for transfer can be recovered; unclaimed rewards, staked POWER, and node-slot funds were lost when the dashboard went offline on July 16. After the deadline, the chain will stop producing blocks, the Arbitrum-based bridge will cease functioning, and remaining balances will become stranded with the inaccessible network state. Ethereum-held POWER remains unaffected, as its ERC-20 contract is immutable and accessible on-chain. Powerlooms founders cited a lack of sustainable operating model and ecosystem demand as reasons for the wind-down.
Tether's USDT hits 2-year countdown threatening its position on U.S. crypto platforms
The GENIUS Act, which governs U.S. stablecoin issuers, marks its first anniversary, leaving Tether and other non-U.S. issuers two years to devise compliance strategies. Federal regulators missed the deadline to finalize implementing rules, creating ongoing uncertainty. The law‘s basic standards would require major changes for Tether’s USDT, the world‘s leading stablecoin by volume, potentially pushing it out of U.S. markets if the company does not revamp dramatically. Despite CEO Paolo Ardoino’s assurances last year, Tether has not yet pivoted decisively toward the Acts demands. While the anniversary has seen a surge in stablecoin interest and many firms seeking trust bank charters, experts still disagree on key interpretations.
Kraken says simpler options can unlock crypto's next derivatives market
Kraken is launching a new crypto options platform as part of its evolution into a broader financial services provider, aiming to expand the options market by simplifying access for retail traders. While derivatives dominate crypto trading volumes, options remain a niche dominated by venues like Deribit, CME Group, and Binance. Krakens global head of product, Mayurita Theodorou, emphasizes that the goal is not merely to capture market share from incumbents but to grow the overall addressable market by offering straightforward, dollar-settled contracts in the same account used for spot and futures. She argues that the slow adoption of crypto options is a product design issue, not a lack of demand, noting that existing platforms primarily serve institutions and market makers, while retail traders have gravitated toward the simplicity of perpetual futures.
DOG Mode explains Bitcoin's next governance fight
Supporters of BIP-110 view Bitcoin as a public utility whose scarce block space should be reserved primarily for monetary settlement, potentially requiring new consensus rules to protect financial transactions. In contrast, DOG Mode argues Bitcoin should remain a neutral marketplace where any valid transaction is equally legitimate if the sender pays the prevailing fee, rejecting any objective distinction between a bitcoin payment and an Ordinals inscription. Rather than seeking a protocol upgrade, DOG Mode aims to remove policy restrictions its proponents believe Bitcoin never required. This could widen existing mempool fragmentation—where different nodes relay different unconfirmed transactions—affecting fee estimation and transaction propagation speed, even as consensus remains intact.
WOO X Signs Memorandum of Understanding (MOU) with Payward Services
WOO X and Payward Services have signed an MOU to enable spot crypto trading for WOO X‘s European users through Payward’s regulated infrastructure and licensing, leveraging its trading-as-a-service offering. Payward Services, the B2B arm of the company behind Kraken, already provides similar services to institutions like neobank bunq. Mark Greenberg, Global Head of Payward Services, highlighted that the partnership allows partners to launch crypto trading quickly without building their own infrastructure. The MOU establishes a framework for future cooperation, and both companies will share updates as initiatives are finalized.
South Korea weighs new legal framework for seizing self custodied crypto
South Korean tax officials have proposed amending the Criminal Procedure Act to create a legal framework for seizing self-custodied digital assets, arguing current rules do not cover wallets controlled through private keys. The proposal, published in a criminology journal, recommends search warrants specify asset types, wallet addresses, and transfer methods, and advocates for court-supervised joint wallets to store seized crypto rather than agency-controlled wallets, reducing theft and misuse risks. The paper follows a 2025 Supreme Court ruling that Bitcoin seized from exchange wallets was lawful but left self-custodied assets unaddressed, and comes after the National Tax Service suffered a security breach exposing a recovery phrase and losing about $4.8 million in crypto, prompting a task force to improve custody procedures.
'An Impossible Requirement': Why Have I Been Pwned's Creator Is Dropping Crypto Donations
Troy Hunt, creator of Have I Been Pwned, plans to stop accepting cryptocurrency donations because Australia's new Travel Rule compliance requirements make small, anonymous tips impractical. After Coinbase demanded extensive sender data—including full name, ID number, and home address—to process a $6 donation, Hunt called the regulations impossible and said he may return to PayPal-only donations. Australia's financial intelligence agency AUSTRAC began enforcing Travel Rule mandates for virtual asset service providers on July 1, tightening KYC oversight. While self-hosted wallets were suggested as an alternative, Hunt dismissed the idea, noting that KYC requirements are tightening everywhere and the hassle isn't worth it for such small amounts.
US agencies miss GENIUS Act deadline for final stablecoin rules
US regulatory agencies missed the one-year rulemaking deadline under the GENIUS Act for stablecoins, leaving no final regulations issued despite several proposed rules from the Treasury, OCC, FDIC, and Federal Reserve. The missed deadline does not invalidate the act but creates regulatory uncertainty for stablecoin issuers. The Treasury issued four of the ten proposed rulemakings, covering state regime alignment, foreign issuer registration, and anti-money laundering. Meanwhile, Anchorage Digital used the anniversary to urge passage of the CLARITY Act to extend similar market-structure rules to broader digital assets, though banking groups oppose its stablecoin yield provisions. Galaxy Digital has lowered its odds of the CLARITY Act becoming law in 2026 to 50%.
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