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Crypto-aligned PAC adds $1M to Michigan House race ad push

A crypto-industry-backed political action committee affiliate has intensified its advertising push ahead of next week’s Michigan Republican primary, according to the latest Federal Election Commission (FEC) filings. Protect Progress PAC, which the filings indicate is funded largely by contributions from cryptocurrency companies Ripple Labs and Coinbase, has spent more than $2 million on media to influence the contest in Michigan’s 13th Congressional District. The most recent updates, filed as of Thursday, show the committee ramping up spending in support of U.S. Representative Shri Thanedar while also funding opposition to his Democratic challenger, Donavan McKinney. The renewed disclosures come shortly after earlier reporting showed the PAC had already ramped up its buy—effectively doubling its reported ad spending from the prior week. Key takeaways FEC filings show Protect Progress PAC has spent over $2 million on media for Michigan’s 13th district primary race. New disclosures a...
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Crypto PAC Adds $1M More to Michigan House Race Campaign

An affiliate committee of the crypto-focused Fairshake political operation has increased its ad spending ahead of next week’s primary election in Michigan’s 13th Congressional District, according to Federal Election Commission filings. The spending highlights how cryptocurrency companies continue to shape campaign activity through super PAC and affiliate structures as lawmakers consider major digital-asset policy. As of Thursday, Protect Progress PAC reported spending more than $2 million on broadcast and digital media related to the Michigan Democratic primary between Rep. Shri Thanedar and challenger Donavan McKinney. The latest filing reflected a rapid acceleration from the amount the PAC reported just a week earlier, including nearly $884,240 in additional ad buys supporting Thanedar and more than $150,000 aimed at opposing McKinney. Key takeaways Protect Progress PAC reported over $2 million in media spending tied to Michigan’s 13th District Democratic primary, based on FEC fil...
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Galaxy Maps Warns Coldcard Bitcoin Losses After Wallet Incident

Galaxy Research, the research arm of Galaxy Digital, has expanded the on-chain footprint linked to the Coldcard wallet incident that reportedly resulted in the loss of 1,082.65 bitcoin. In a new analysis, the firm identified 1,196 addresses that were involved in transactions tied to that event, widening the estimated scale beyond earlier preliminary figures. The activity Galaxy Research points to took place between 1:10 AM and 1:51 AM UTC on July 30, spanning blocks 960,183 to 960,191—roughly 30 hours before Coldcard published its first security advisory, as referenced in Galaxy Research’s post on X. Key takeaways Galaxy Research traced a cluster of 1,196 addresses tied to the Coldcard incident, connected to losses of 1,082.65 BTC. The movements were observed across blocks 960,183–960,191 between 1:10 AM and 1:51 AM UTC on July 30. Galaxy Research says the transactions share a recognizable on-chain pattern (including identical fees and no change outputs), though later attacks may...
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Crypto Industry Was Hit By 30 Hacks In July, Losing $210.3 Million: Peckshield

The crypto industry suffered 30 major hacking incidents in July, leading to losses totaling $210.3 million, a significant increase from the $75.87 million reported in June. The industry has lost $1 billion during the first half of the year, and recorded a record number of hacks within six months, with Ethereum and Solana leading the losses. Crypto Industry Reports A Surge In Hacking Incidents PeckShield has reported that the cryptocurrency industry suffered a loss of $210.3 million from 30 major exploits in July, a 177.2% increase from the $75.87 million reported in June. The exploits highlight the persistent security challenges faced by the industry. The losses were driven by a handful of high-profile incidents. The Coldcard Wallet exploit was the largest incident this month, and the third-largest this year, resulting in $70 million in losses. Other notable security incidents in July include the AFX Trade exploit ($24 million), Ostium ($24 million), BONK ($21.2 million), Wanchain ($13...
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Russia Extends Crypto Mining Ban to Moscow Through 2032

Russia is tightening its cryptocurrency mining rules by expanding a ban that will apply in Moscow and surrounding areas. The restriction takes effect on Aug. 15, 2026, and is scheduled to run through Dec. 31, 2032, according to a government resolution published on Pravo.ru. The updated measure, signed July 25, 2026 by Prime Minister Mikhail Mishustin, amends earlier restrictions adopted in December 2024. It broadens the list of regions where mining is prohibited, citing electricity supply and demand pressures in power-constrained territories. Key takeaways Russia’s Resolution No. 936 (signed July 25, 2026) extends crypto mining restrictions to Moscow and the Moscow Region. The Moscow-area ban starts Aug. 15, 2026 and runs through Dec. 31, 2032. Additional affected areas include several territories within Russia’s Kursk Region, plus eight municipal districts and the city of Lgov. The Kremlin-linked restrictions build on an earlier Dec. 2024 mining curbs order, and follow region-...
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Russia Extends Crypto Mining Ban to Moscow Through 2032

Russia is tightening its cryptocurrency mining policy again, extending restrictions beyond the regions it targeted earlier and adding Moscow and nearby areas to a long-running ban schedule. A new government resolution takes effect on Aug. 15, 2026, with the prohibition set to run through Dec. 31, 2032. The update is set out in Resolution No. 936, signed by Prime Minister Mikhail Mishustin on July 25, 2026, according to records published on Pravo.ru. It revises an earlier mining restriction order from December 2024 and updates the list of places where mining activities are limited due to local electricity concerns. Key takeaways Resolution No. 936 introduces a mining ban for Moscow, the Moscow Region, and parts of Russia’s Kursk Region, beginning Aug. 15, 2026. The restrictions will remain in force through Dec. 31, 2032, effectively creating a multi-year compliance horizon for operators. The rules follow earlier regional bans launched in December 2024 and other orders that began i...
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Coldcard Bitcoin Loss Estimate Up to $70M After Galaxy Review

Galaxy Research, the research arm of Galaxy Digital, has expanded the on-chain scope of the Coldcard wallet incident after identifying 1,196 affected Bitcoin addresses. In a 41-minute window, those addresses lost a total of 1,082.65 BTC—worth about $70.2 million at the time the transactions occurred. The new findings push earlier estimates further, helping clarify what attackers may have executed immediately after the vulnerable wallets generated seeds. Galaxy Research’s tracing covers movements between 1:10 AM and 1:51 AM UTC on July 30 across blocks 960,183 to 960,191, roughly 30 hours before Coldcard published its first security advisory. Key takeaways Galaxy Research identified 1,196 addresses tied to the Coldcard incident and traced losses of 1,082.65 BTC in a 41-minute period. The identified activity occurred between 1:10 AM and 1:51 AM UTC on July 30, across blocks 960,183–960,191, about 30 hours before Coldcard’s initial advisory. Earlier estimates by AnchorWatch CEO Rob ...
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