Coldcard wallet exploit drains 594 BTC as Uniswap jumps 10% on Clarity Act progress

Two competing forces shaped the day. On the negative side, the Fed's hawkish hold from the prior session kept the Fear & Greed Index pinned at 25 — deep in fear territory — and most large-cap assets drifted within 1% of yesterday's close. Bitcoin held near $63,800, Ethereum slipped 0.8%, and Solana was flat. The macro backdrop offered one offset: the Bank of Japan held rates at 1%, keeping the yen carry trade intact. That trade — where investors borrow cheaply in yen to buy higher-yielding assets — has historically provided a tailwind for risk assets including crypto, and may have helped prevent a sharper selloff. The day's positive catalyst was regulatory. Senators Tillis and Gallego sent a bipartisan ethics compromise to the White House in an effort to revive the Clarity Act, a proposed U.S. framework for crypto market structure that had stalled in recent weeks. The news sent Uniswap up 10.4% — a direct beneficiary, since the Clarity Act would establish clearer rules for decentralized exchanges (platforms where users trade crypto directly without a central intermediary). BNB gained 2.6% and Figure Heloc rose 3.7%, both moving against the broader flat-to-down trend. JPMorgan had earlier warned that fading Clarity Act momentum was a headwind for institutional adoption — so the Senate compromise landed as a direct counter to that concern, at least for the day.

• –A critical vulnerability in Coldcard Mk3 hardware wallets was exploited to drain 594 BTC in under 25 minutes; Coinkite has warned Mk3 users their funds may be at risk and urged immediate action.
• –Strategy reported an $8.2 billion Q2 loss tied to Bitcoin's price decline, even as the company increased its BTC holdings by 11% — a reminder of the mark-to-market risk embedded in large corporate Bitcoin treasury strategies.
• –JPMorgan warned that declining legislative momentum for the Clarity Act poses a headwind to crypto's institutional adoption trajectory — a note that arrived the same day senators sent a fresh compromise to the White House.