I will scan the allowed sources for the most important stories from the last 24 hours.Fetching details from the top stories.Strategy Continues Bitcoin Sales to Bolster Reserves and Preferred Stock
Strategy (formerly MicroStrategy) sold 1,638 BTC between July 27 and August 2 at an average of about $63,957, raising $104.7 million. Proceeds funded STRC preferred dividends ($52.4 million) and repurchases ($52.3 million). The firm also sold MSTR shares for $290.6 million, lifting its USD reserve to $4 billion and extending runway to 2.3 years. Holdings stand at 842,138 BTC. This continues monthly sales since June, totaling over 5,000 BTC, after years of pure accumulation.
The company overhauled its capital framework in late June, explicitly allowing BTC sales to support dividends, liquidity, and preferred stock (STRC now yields 12% and trades below par). CEO Phong Le maintains a long-term buyer stance, but the pattern marks a clear shift from the prior “never sell” narrative that defined its premium valuation and Bitcoin Yield metrics.
Key tensions include whether modest ongoing sales erode the scarcity premium and corporate-treasury thesis, especially if BTC declines further and forces larger liquidations. Markets have absorbed the volume so far amid sideways price action near $63,000–$64,000, yet the psychological barrier of treating BTC as untouchable working capital has been crossed. Uncertainties center on STRC trading dynamics, future dividend coverage, and how investors reprice the equity if sales accelerate.
Sources: Cointelegraph, ZeroHedge, Bitcoin Magazine.
Coldcard Firmware Bug Drains Over $114 Million in Bitcoin
Attackers launched a fourth wave of sweeps against Coldcard hardware wallets, pushing estimated losses above $114 million (more than 1,800 BTC) since late July. A 2021 firmware bug made seed phrases generated on affected devices guessable, allowing remote drainage even of air-gapped units with steel backups and no internet exposure. Victims who followed best practices watched holdings empty in minutes; some transactions remained replaceable in the mempool, offering a narrow recovery window.
Coinkite has released fixed firmware. The open-source nature of the code meant the flaw sat publicly for years undetected. This differs from social-engineering scams, as cryptography and user practices failed due to vendor-side generation weakness. Related pressure hit services like Boltz, which halted Bitcoin swaps indefinitely citing AI-assisted attacks.
The episode undermines confidence in self-custody hardware at a time of elevated security scrutiny. Uncertainties include the full scope of vulnerable devices still in use, potential further waves, and whether insurance or recovery tools can mitigate losses. It highlights that open-source alone does not guarantee audit rigor and may accelerate shifts toward multi-sig, newer devices, or hybrid custody models.
Sources: The Defiant, Bitcoin Magazine, Cointelegraph.
CLARITY Act Odds Fade as Recess Nears; Bitcoin Eyes Technical Bottom
Bernstein warned that failure to pass the Digital Asset Market Clarity Act before the Senate’s August recess could trigger a knee-jerk selloff and another leg down in crypto valuations. Polymarket odds of 2026 passage sit near 31–37%. Banking lobbies oppose stablecoin yield provisions. Separately, 10x Research said a monthly close above $63,000 could confirm a bear-market bottom for Bitcoin, turning cycle indicators bullish, though rising Treasury yields risk a September Fed hike and Iran-related geopolitics remain wild cards.
The bill aims to clarify SEC/CFTC roles and token taxonomy; its stall leaves Project Crypto regulatory work as a potential stopgap. BTC trades around $63,500–$64,000 after July weakness, with analysts citing high loss-held supply and long-term holder balances as bottom signals, offset by miner and treasury selling pressure.
Tensions lie in the gap between legislative delay (negative short-term) and possible accelerated agency rulemaking. Uncertainties include mid-term political timing, actual Fed path, and whether technical signals hold amid macro and energy shocks from Russian refining damage (nearly 43% capacity hit by drones) and Hormuz pauses.
Sources: Cointelegraph, ZeroHedge, OilPrice.com.