🟠 Bitcoin's August surge was 89% short liquidations
A joint Glassnode and Bybit report reveals Bitcoin's sharpest rally in two years was driven almost entirely by forced short closures rather than fresh buying.
Bitcoin gained 24.6% over five days in August, yet active leverage declined during the move. Short positions accounted for 89 cents of every liquidated dollar throughout the rally — a sign the price surge was mechanically amplified by cascading short squeezes rather than organic demand entering the market.
The data highlights how thin positioning and crowded short bets can produce outsized price moves without a fundamental shift in underlying buyer activity.
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🪙 UK challenger bank to bring tokenized deposits to retail
JPMorgan and Citi have moved billions in tokenized deposits on blockchain rails — but exclusively between their own institutional branches. A U.K. challenger bank is preparing to extend tokenized deposit functionality to regular consumers, a step neither Wall Street giant has taken.
Tokenized deposits represent bank liabilities recorded on a blockchain, allowing faster, programmable settlement. So far, adoption has been confined to wholesale interbank use cases, where large institutions transfer value internally without exposing the technology to retail clients.
The unnamed U.K. challenger bank's move would mark the first time tokenized deposits reach everyday account holders, potentially opening a new front in the broader race to bring tokenization beyond institutional corridors and into consumer banking.
🔐 North Korean hackers hit 7,000 crypto wallets across 100 countries
Japan's National Police Agency has linked the North Korean group WaterPlum to a sweeping malware campaign targeting crypto users between December 2025 and July 2026.
The group infected over 30,000 devices across more than 100 countries and regions, stealing data tied to more than 7,000 crypto wallets. Authorities traced approximately $10.71 million in transfers to wallets controlled by WaterPlum.
North Korea-linked actors have been responsible for some of the largest crypto thefts in recent years, with state-sponsored hacking groups increasingly targeting individual wallet holders alongside exchanges and protocols.
🟠 Bitcoin surges 5.88% in a single session, short squeeze underway
Bitcoin climbed 5.88% in one session, pushing back toward its 2026 highs above $80,000 as a short squeeze added momentum to the move.
The rapid advance liquidated overleveraged short positions, amplifying the rally. Technical indicators suggest the move has extended into overbought territory in the near term.
🔐 UAE and Sweden bust $7.1M crypto laundering network
Police in the UAE and Sweden have arrested seven people after investigators traced cryptocurrency transactions through an international money laundering network allegedly handling 70 million Swedish krona ($7.1 million).
The network had financial links to organized crime and murder-for-hire operations. Crypto transaction tracing was central to the investigation, allowing authorities to map the flow of funds across borders and identify suspects in both countries.
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