U.S. Senator Lummis: Firm Believer That a Strategic Bitcoin Reserve Is the Only Solution to Offset U.S. Debt

Singapore police and the Cyber Security Agency of Singapore (CSA) announced today that a cryptocurrency-related scam involving fake job recruitment and software system intrusions has resulted in $11.8 million in losses. Scammers posed as recruiters from cryptocurrency firms on LinkedIn to approach victims, communicating with them via email addresses using domains similar to those of legitimate companies. They also arranged multiple Google Meet video interviews where cameras were kept off throughout. Victims were then directed to fake websites to complete technical programming tests on company-issued devices, unknowingly downloading malware that stole their session tokens. These tokens were used to bypass multi-factor authentication (MFA) to access Bitbucket accounts linked to the company’s code repositories. After gaining access, attackers modified the company’s automated software deployment commands, remotely accessed its internal servers, and stole credentials to bypass transaction limits and approval checks to execute cryptocurrency transfers. Singapore police and the CSA recommended that tech and cryptocurrency industry enterprises and individuals verify the identities of recruiters and companies, protect API keys and internal credentials, strengthen MFA, and enhance security for code repositories and deployment pipelines. In the event of a suspected intrusion, immediately isolate affected devices, revoke active sessions, reset credentials, and review access logs.

The U.S. Securities and Exchange Commission (SEC) canceled a planned public meeting scheduled for Friday today, which was set to deliberate on a customized issuance framework for crypto asset investment contracts. The SEC cited "unforeseen scheduling issues" as the reason for the cancellation, without providing further details. The move comes after the Senate entered its August recess without holding a full vote on the Cryptocurrency Market Structure Act (the CLARITY Act), further clouding the outlook for crypto market structure legislation. SEC Chair Paul Atkins told CNBC in a July 27 interview that if the Senate fails to pass the CLARITY Act, the SEC is "prepared, willing, and able" to issue rules for digital assets. The timing of the meeting cancellation coincides with the Senate recess, and markets are watching closely to see if the SEC will bypass the legislative process to advance crypto regulations on its own. The CLARITY Act had previously missed its pre-recess voting window due to a dispute over enforcement authority for ethics provisions, making the SEC’s next move amid the legislative gridlock a short-term focus for the crypto industry.

Analyst Jukan, citing South Korean media, said Samsung Electronics is considering converting Line 2 of its next-generation semiconductor R&D campus NRD-K in Giheung from R&D use to a foundry production line, to expand 2nm capacity and specifically manufacture 2nm base chips for HBM, targeting cHBM and HBM5 demand from clients including NVIDIA. The line is expected to launch in H2 2028, operating in Send Fab mode: it will receive wafers from other mass production lines and only perform auxiliary foundry services for specific process steps. NRD-K is Samsung’s most advanced complex R&D campus, built with an investment of around 20 trillion won, with three production lines planned in total; Line 1 was completed at the end of 2024. This adjustment comes as Samsung moves to pre-empt the surge in HBM demand driven by AI infrastructure. By prioritizing 2nm process technology for custom HBM and HBM5, Samsung aims to maintain an edge in performance competition for advanced packaging base chips. Industry observers note the line is small in scale and suited for the Send Fab role, but with roughly two years remaining before its launch, its final purpose could adjust according to market changes, and equipment procurement orders have not yet been officially placed. Previously, the line was considered for DRAM mass production, but DRAM capacity has now been further consolidated in Samsung’s Pyeongtaek campus. This production line adjustment by Samsung further confirms the trend of customization and advanced process adoption for HBM base chips.

According to market data from BIT (bit.com), the US pre-market storage sector extended its rally from yesterday, with SanDisk rising an additional 2.1%. Yesterday, SanDisk announced a mid-to-high double-digit revenue growth target, plans to return 100% of its excess cash to shareholders, signed a $939 billion long-term agreement, and its HBF samples are scheduled to debut in 2027. Seagate Technology (STX) gained 0.65%, Western Digital (WDC) rose 0.76%, Micron Technology (MU) climbed 0.83%, while SK Hynix ADR dropped 0.77%.

U.S. Central Command (CENTCOM) spokesperson Tim Hawkins denied that senior military officials are pushing for a new round of military strikes against Iran. Hawkins said in an interview that reports claiming that CENTCOM Commander Brad Cooper is pushing for a new round of strikes on Iran are "pure fabrications, not facts at all." (Xinhua News Agency)

CryptoQuant analyst Darkfost noted in a post that Bitcoin’s Average Directional Index (ADX) indicator hit its lowest level in over two years today, another signal suggesting volatility is about to return. ADX is a tool for measuring trend strength, not directional, carrying no bullish connotation—it is only used to track trend strength rather than price action. An extremely low ADX level means Bitcoin has been trading sideways in a range for quite a long time, trend momentum is nearly exhausted, and prices will have to choose a direction soon. Darkfost stressed that multiple indicators currently point to the same conclusion: the market has been in a "hypnotic" low-volatility state for several consecutive months, major swings are imminent, and investors should remain highly vigilant.