Cryptocurrency News

💳 Crypto Cards Are Turning Stablecoins Into Everyday Payments

Solana Proposals Could Cut $1.5B in SOL Issuance Solana is advancing two governance proposals, SIMD-550 & SIMD-553, that could significantly reduce SOL issuance and increase network-wide burns. SIMD-550 would double the annual disinflation rate from 15% to 30%, bringing Solana to its 1.5% terminal inflation rate by H1 2029 instead of around 2032. SIMD-553 introduces a burn fee based on requested compute units for financial activity. Based on current network usage, daily SOL burns could jump from roughly 600–800 SOL to 7,500–9,000 SOL. Together, the proposals could reduce SOL issuance by an estimated $1.4B–$1.5B over six years, according to 21Shares. The final impact will depend on the SIMD-550 governance vote and the validator fee design for SIMD-553.

📉 Monthly Perp DEX Volume Fell 21% in July

Bybit Sues North Korea Over the $1.5B Hack Bybit has filed suit against North Korea, its Lazarus Group and the Reconnaissance General Bureau over the record $1.5B hack of the exchange, and has already secured a court order freezing stolen assets. The case, filed in the US District Court for the District of Columbia, won a preliminary injunction freezing the identified stolen digital assets while the litigation continues. It is a rare, direct legal move against a nation-state hacking operation. CEO Ben Zhou framed it plainly: 'Our focus has never changed: protect our users first, recover what we can, and make sure the people behind these attacks are held accountable.' The February 21, 2025 theft of over 400,000 ETH and stETH was the largest hack in crypto history and made up the bulk of the roughly $2B North Korea stole that year, part of an estimated $6.75B Pyongyang-linked crews have taken to date.

$247M Stolen in July: Crypto’s Second-Worst Month of 2026 In July, losses from cryptocurrency hacks reached $247M, making it the second-largest monthly total since the beginning of the year. One of the main contributors was the incident involving Coldcard hardware wallets. As the investigation progressed, estimated losses linked to Coldcard rose from around $70M to more than $100M. July showed that even cold storage does not eliminate technological risks, which can put thousands of wallets at risk simultaneously.

Spot trading volume on Ethereum has returned to October 2023 level In July, the total monthly spot trading volume on Ethereum DEXs fell to $29B, which is 76% below the ATH of $122B set in August 2025. Trading volume has been declining by an average of 12.5% per month. If this pace continues, it will take another ~3 months to reach the 5-year low of $21.2B.