Weekly Wrap: Bitcoin Holds Firm As Stocks Post Losing Week
Galaxy Digital Moves To Protect Bitcoin: Galaxy Digital (NASDAQ: $GLXY) has established a $5 million U.S. fund to help developers protect Bitcoin from threats posed by quantum computing. Grants administered through the fund will focus on developing quantum-resistant signature schemes, crypto wallet migration tools, and security audits. Analysts say it is only a matter of time before powerful quantum computers are able to attack the blockchain of Bitcoin, leading to security problems.
Kalshi Opens Betting On U.S. Midterm Elections: Prediction market Kalshi opened betting on the outcome of the U.S. congressional elections taking place this November. The midterm elections will decide which political party, Democrats or Republicans, control the U.S. House of Representatives and Senate. Kalshi is allowing people to bet on the outcome of the elections that are scheduled to take place on Nov. 3.
Crypto Exchange BitMEX Shuts Down: BitMEX, the cryptocurrency exchange that invented perpetual swaps (perps), announced that it is shutting down. The exchange, co-founded by investor Arthur Hayes in 2014, announced that it will cease operations on Sept. 23 of this year.
The decision to shut down comes after BitMEX lost perpetuals business to competing rivals and a new wave of decentralized derivatives markets that have sprung up in recent years. The wind-down ends an 11-year run for BitMEX.
Goldman Sachs CEO Supports Clarity Act: The Clarity Act legislation that aims to regulate cryptocurrencies has gotten a vote of confidence from Goldman Sachs (NYSE: $GS) CEO David Solomon. Solomon has thrown his support behind the crypto bill despite reservations among many U.S. banks over worries that digital assets will intrude on their business. Solomon said the Clarity Act will provide much-needed regulatory certainty for cryptocurrencies such as Bitcoin.
Bitcoin Miner Poolin Files For Bankruptcy: Poolin Technology, a Singapore-based company that was one of the world's largest Bitcoin mining pools, has filed for Chapter 11 bankruptcy protection in the U.S. The bankruptcy filing comes after Poolin's Texas Bitcoin mining operations shutdown on July 10 of this year. The filing, which seeks to protect Poolin from its creditors, lists estimated debts of as much as $500 million U.S. versus assets of $10 million U.S. In the bankruptcy filing, Poolin says that its creditors are owed $173.1 million U.S.
Hyperliquid Adds Decentralized Prediction Market: Hyperliquid (CRYPTO: $HYPE) announced plans to add decentralized prediction markets to its platform as it diversifies into new revenue streams. Going forward, anyone will be able to offer a prediction market on Hyperliquid's platform, subject to approval from validators. The prediction market sector is dominated by Polymarket and Kalshi.
Wrench Attacks Cost Victims $124 Million: Cryptocurrency "wrench attacks" cost victims around the world $124 million U.S. in losses over the past six months, according to blockchain security firm CertiK. Wrench attacks are violent, real-world attacks on people who own cryptocurrencies such as Bitcoin. CertiK verified 52 incidents in which criminals used violence or threats of force to get people to hand over their crypto in the first half of 2026. In all, the wrench attacks this year cost victims $124.1 million U.S. in losses. The average amount of crypto stolen per attack rose to $2.39 million U.S. from $270,000 U.S. a year ago.
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