FCA and HTX head to settlement talks over a single test crypto buy
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One FCA staffer bought crypto with a UK driving license and a UK IP. That's the whole case so far.
Story
A single undercover purchase is now the basis for enforcement action against a major exchange. Cheap to run, and it's working.
Full read: https://stackandstory.com/stories/fca-htx-settlement-talks-uk-promotions
Stack
One FCA staffer bought crypto with a UK driving license and a UK IP. That's the whole case so far.
Story
A single undercover purchase is now the basis for enforcement action against a major exchange. Cheap to run, and it's working.
Full read: https://stackandstory.com/stories/fca-htx-settlement-talks-uk-promotions
Public Bitcoin miners cut hashrate 13.4% to chase AI revenue
Stack
Strip out Bitdeer, the one holdout still scaling mining, and the rest of the public-miner cohort's hashrate fell 21.2% in six months.
Story
Miners aren't quitting Bitcoin, they're renting their power to AI companies instead because it pays better right now.
Full read: https://stackandstory.com/stories/public-bitcoin-miners-hashrate-ai-shift
Stack
Strip out Bitdeer, the one holdout still scaling mining, and the rest of the public-miner cohort's hashrate fell 21.2% in six months.
Story
Miners aren't quitting Bitcoin, they're renting their power to AI companies instead because it pays better right now.
Full read: https://stackandstory.com/stories/public-bitcoin-miners-hashrate-ai-shift
Tether says KPMG signed off on its first full audit.
Stack
KPMG physically counted Tether's gold bars rather than trusting a custodial statement.
Story
A one-time audit isn't the same as ongoing disclosure. Tether hasn't said it'll publish the full report or repeat this every year.
Full read: https://stackandstory.com/stories/tether-completes-kpmg-audit
Stack
KPMG physically counted Tether's gold bars rather than trusting a custodial statement.
Story
A one-time audit isn't the same as ongoing disclosure. Tether hasn't said it'll publish the full report or repeat this every year.
Full read: https://stackandstory.com/stories/tether-completes-kpmg-audit
JPMorgan's Bitcoin ETF stake grew 25%, Ether's more than quadrupled.
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JPMorgan reported zero XRP ETF shares in Q1, then opened two tiny positions worth under $5,200 combined in Q2.
Story
A bigger number in a bank's ETF filing doesn't mean the bank is betting on crypto. It could just be custody or client flow.
Full read: https://stackandstory.com/stories/jpmorgan-crypto-etf-filing-not-a-bet
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JPMorgan reported zero XRP ETF shares in Q1, then opened two tiny positions worth under $5,200 combined in Q2.
Story
A bigger number in a bank's ETF filing doesn't mean the bank is betting on crypto. It could just be custody or client flow.
Full read: https://stackandstory.com/stories/jpmorgan-crypto-etf-filing-not-a-bet
Morgan Stanley bought more IBIT shares as bitcoin's price fell
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IBIT shares rose 23% to 16.5M but the position's dollar value fell 18% to $549M, same quarter.
Story
More shares, less value: the bank added to its bitcoin ETF stake even as the price dropped.
Full read: https://stackandstory.com/stories/morgan-stanley-ibit-holdings-q2
Stack
IBIT shares rose 23% to 16.5M but the position's dollar value fell 18% to $549M, same quarter.
Story
More shares, less value: the bank added to its bitcoin ETF stake even as the price dropped.
Full read: https://stackandstory.com/stories/morgan-stanley-ibit-holdings-q2
Cboe files for the first US 3x bitcoin and ether ETFs
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BITX, the existing 2x bitcoin ETF, has pulled over $3 billion since 2023, the template Cboe is now betting on at triple the multiple.
Story
A 3x fund resets daily, so it can lose money even when bitcoin ends the week roughly flat. The filing shows regulators now treat leverage multiple as routine, not special.
Full read: https://stackandstory.com/stories/cboe-3x-bitcoin-ether-etf-sec-filing
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BITX, the existing 2x bitcoin ETF, has pulled over $3 billion since 2023, the template Cboe is now betting on at triple the multiple.
Story
A 3x fund resets daily, so it can lose money even when bitcoin ends the week roughly flat. The filing shows regulators now treat leverage multiple as routine, not special.
Full read: https://stackandstory.com/stories/cboe-3x-bitcoin-ether-etf-sec-filing
StablecoinX shares jump 12% on a 20% ENA supply stake reveal
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One company now holds 20% of ENA's entire token supply in a single treasury.
Story
A stock jumped 12% purely because a company said how much of a token it owns, no product news attached.
Full read: https://stackandstory.com/stories/stablecoinx-shares-jump-20-percent-ena-stake
Stack
One company now holds 20% of ENA's entire token supply in a single treasury.
Story
A stock jumped 12% purely because a company said how much of a token it owns, no product news attached.
Full read: https://stackandstory.com/stories/stablecoinx-shares-jump-20-percent-ena-stake
Tudor added to its IBIT bet, but it's still 91% below its peak.
Stack
The stake rose 18.9% in Q2, yet it's just 0.03% of Tudor's $71.9B portfolio.
Story
A famous inflation-hedge bet turns out to be sized like an afterthought, not a conviction call.
Full read: https://stackandstory.com/stories/tudor-adds-ibit-still-91-below-peak
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The stake rose 18.9% in Q2, yet it's just 0.03% of Tudor's $71.9B portfolio.
Story
A famous inflation-hedge bet turns out to be sized like an afterthought, not a conviction call.
Full read: https://stackandstory.com/stories/tudor-adds-ibit-still-91-below-peak
Gen Z on Binance puts 25% of equity trades into ETFs, not stocks
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22% of Gen Z stock accounts on Binance have never placed a single sell order, versus 9% for Boomers.
Story
Younger traders are choosing diversified ETFs over stock-picking and skipping leverage almost entirely, likely because they came of age after the meme-stock crashes rather than during them.
Full read: https://stackandstory.com/stories/gen-z-trades-etfs-not-stocks-binance
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22% of Gen Z stock accounts on Binance have never placed a single sell order, versus 9% for Boomers.
Story
Younger traders are choosing diversified ETFs over stock-picking and skipping leverage almost entirely, likely because they came of age after the meme-stock crashes rather than during them.
Full read: https://stackandstory.com/stories/gen-z-trades-etfs-not-stocks-binance
Harvard's IBIT stake sits untouched after last quarter's 43% cut
Stack
Two Gulf sovereign funds hold 22.9 million IBIT shares combined, and neither moved a share this quarter either.
Story
No new buying, no new selling. Big holders seem to have settled on a size and stopped adjusting it.
Full read: https://stackandstory.com/stories/harvard-holds-bitcoin-etf-stake-flat
Stack
Two Gulf sovereign funds hold 22.9 million IBIT shares combined, and neither moved a share this quarter either.
Story
No new buying, no new selling. Big holders seem to have settled on a size and stopped adjusting it.
Full read: https://stackandstory.com/stories/harvard-holds-bitcoin-etf-stake-flat
Galaxy just cut CLARITY Act passage odds to 10%, from 75% in May.
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Galaxy's odds fell four times in three months: 75% to 60% to 50% to 10%, a 65-point collapse with no single event causing it.
Story
The bill isn't dead from opposition, it's dying from running out of Senate floor time before a short fall session ends.
Full read: https://stackandstory.com/stories/galaxy-lowers-clarity-act-odds-10-percent
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Galaxy's odds fell four times in three months: 75% to 60% to 50% to 10%, a 65-point collapse with no single event causing it.
Story
The bill isn't dead from opposition, it's dying from running out of Senate floor time before a short fall session ends.
Full read: https://stackandstory.com/stories/galaxy-lowers-clarity-act-odds-10-percent
UBS's bullish bitcoin ETF options jumped 24x in one quarter.
Stack
UBS's call option exposure to IBIT went from 80,000 to 1.95 million shares in three months, a 24x jump, while its put exposure fell 53%.
Story
A Swiss bank's options book swinging bullish likely means it's stocking up to serve client demand, not making a market call.
Full read: https://stackandstory.com/stories/ubs-ibit-call-options-24-fold
Stack
UBS's call option exposure to IBIT went from 80,000 to 1.95 million shares in three months, a 24x jump, while its put exposure fell 53%.
Story
A Swiss bank's options book swinging bullish likely means it's stocking up to serve client demand, not making a market call.
Full read: https://stackandstory.com/stories/ubs-ibit-call-options-24-fold
Mac flaw scored 9.8/10 let hackers quietly mine Monero
Stack
The exploited flaw hit 9.8 out of 10 on the CVSS scale, near the top of the severity chart used by US officials.
Story
Hackers picked Monero because it's nearly impossible to trace, not because it's valuable. That's the whole point of cryptojacking: stay invisible, stay running.
Full read: https://stackandstory.com/stories/macos-screen-sharing-flaw-monero-miners
Stack
The exploited flaw hit 9.8 out of 10 on the CVSS scale, near the top of the severity chart used by US officials.
Story
Hackers picked Monero because it's nearly impossible to trace, not because it's valuable. That's the whole point of cryptojacking: stay invisible, stay running.
Full read: https://stackandstory.com/stories/macos-screen-sharing-flaw-monero-miners
Banks push to gut stablecoin yield rules before Clarity Act's final Senate vote
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Banks argue stablecoin yield threatens lending, but lending is already a shrinking slice of their profit.
Story
Banks want stablecoin rewards banned to protect deposits paying near-zero interest, not to stop money laundering.
Full read: https://stackandstory.com/stories/banks-fight-stablecoin-yield-again
Stack
Banks argue stablecoin yield threatens lending, but lending is already a shrinking slice of their profit.
Story
Banks want stablecoin rewards banned to protect deposits paying near-zero interest, not to stop money laundering.
Full read: https://stackandstory.com/stories/banks-fight-stablecoin-yield-again
SafePal confirms breach exposed data on nearly 40,000 customers
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Customers reported phishing attempts in July, but SafePal only found the root cause "recently."
Story
A wallet company got breached, and the gap before disclosure gave phishers a head start.
Full read: https://stackandstory.com/stories/safepal-data-breach-40000-customers
Stack
Customers reported phishing attempts in July, but SafePal only found the root cause "recently."
Story
A wallet company got breached, and the gap before disclosure gave phishers a head start.
Full read: https://stackandstory.com/stories/safepal-data-breach-40000-customers
Banks reopen the stablecoin yield fight days before a key Senate vote
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Banks now pay depositors far less interest than in past cycles, yet still call stablecoin yield an existential threat.
Story
Banks say stablecoin yield will drain deposits and choke lending, but their own numbers show deposits are steady and lending is a shrinking part of their profits.
Full read: https://stackandstory.com/stories/bank-lobby-revives-stablecoin-yield-fight
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Banks now pay depositors far less interest than in past cycles, yet still call stablecoin yield an existential threat.
Story
Banks say stablecoin yield will drain deposits and choke lending, but their own numbers show deposits are steady and lending is a shrinking part of their profits.
Full read: https://stackandstory.com/stories/bank-lobby-revives-stablecoin-yield-fight
Ether ETFs just had their biggest inflow day since October
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One day of Ether ETF inflows, $220.8M, made up nearly 30% of the fund's entire August total.
Story
Bitcoin ETFs are grinding to a record month. Ether ETFs just had one huge day that could be a catch-up trade or a one-off spike.
Full read: https://stackandstory.com/stories/ether-etfs-largest-inflow-since-october
Stack
One day of Ether ETF inflows, $220.8M, made up nearly 30% of the fund's entire August total.
Story
Bitcoin ETFs are grinding to a record month. Ether ETFs just had one huge day that could be a catch-up trade or a one-off spike.
Full read: https://stackandstory.com/stories/ether-etfs-largest-inflow-since-october
StanChart says its own $100K bitcoin call might be too low
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Standard Chartered cut its bitcoin target from $150K to $100K in February. Six months later it's second-guessing the cut, not the original call.
Story
A bank's price target moving twice in six months tells you the forecast is chasing price, not leading it.
Full read: https://stackandstory.com/stories/standard-chartered-100k-bitcoin-call-too-low
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Standard Chartered cut its bitcoin target from $150K to $100K in February. Six months later it's second-guessing the cut, not the original call.
Story
A bank's price target moving twice in six months tells you the forecast is chasing price, not leading it.
Full read: https://stackandstory.com/stories/standard-chartered-100k-bitcoin-call-too-low
Bernstein says bitcoin's climb to $80K is an ETF flow story, not a new narrative.
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Strategy's massive bitcoin stack just flipped back above its own average purchase price.
Story
The bounce isn't new demand, it's the same ETF flow mechanism reversing direction again.
Full read: https://stackandstory.com/stories/bitcoin-80k-etf-flows-rebound-bernstein
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Strategy's massive bitcoin stack just flipped back above its own average purchase price.
Story
The bounce isn't new demand, it's the same ETF flow mechanism reversing direction again.
Full read: https://stackandstory.com/stories/bitcoin-80k-etf-flows-rebound-bernstein
BlackRock's IBIT grabbed 83% of Thursday's $606M bitcoin ETF inflow.
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IBIT's share of daily inflows jumped from 55% to 83% in a single day, even as the total pie grew.
Story
Bitcoin ETF demand is back, but almost all of it is flowing through one fund, not eleven.
Full read: https://stackandstory.com/stories/blackrock-83-percent-bitcoin-etf-inflows
Stack
IBIT's share of daily inflows jumped from 55% to 83% in a single day, even as the total pie grew.
Story
Bitcoin ETF demand is back, but almost all of it is flowing through one fund, not eleven.
Full read: https://stackandstory.com/stories/blackrock-83-percent-bitcoin-etf-inflows
XRP's best week since 2024 was really bitcoin's short squeeze in disguise
Stack
Over 40 tokens posted 10%+ gains the same day XRP jumped, from ADA to GALA's 42% spike.
Story
XRP's ETF flows stayed flat while price surged 30%, meaning the rally wasn't driven by new buyers.
Full read: https://stackandstory.com/stories/xrp-30-percent-week-bitcoin-short-squeeze
Stack
Over 40 tokens posted 10%+ gains the same day XRP jumped, from ADA to GALA's 42% spike.
Story
XRP's ETF flows stayed flat while price surged 30%, meaning the rally wasn't driven by new buyers.
Full read: https://stackandstory.com/stories/xrp-30-percent-week-bitcoin-short-squeeze