ShipMonk, Trezor’s fulfillment partner, suffered unauthorized access to its systems, affecting nearly 14,000 customers’ data, the cold storage crypto wallet firm reported Thursday.
Trezor said the names, email addresses, phone numbers and shipping addresses of 11,742 customers had been compromised. It also said the names, cities and email addresses of another 1,947 customers were also breached, bringing the estimated number of victims to nearly 14,000 across the U.S., the UK, Sweden, Colombia, Brazil, Italy and Portugal.
“We have some difficult news to share,” Trezor said Thursday on X. “Unfortunately, one of our shipping providers has experienced a data breach that exposed sensitive order data.”
The Trezor-related security hack comes as global data breaches are at an all-time high, according to SentinelOne, a U.S. cybersecurity firm. It said that this year, data breaches have increased by 17% compared with 2025, with an average of 2,090 attacks worldwide each week. It is also estimated that global data breaches have been rising by 3% month over month since January.
The 30-year Treasury yield cleared 5% this year and is sitting at its highest level since 2007. That means every dollar sitting in bitcoin or any non-yielding asset is a dollar not earning that 5%. Several analysts have pointed to these elevated bond yields as a direct drag on bitcoin’s upside recently.
The elevated cost of capital already hurt bitcoin during the 2025 bull cycle.
The evidence sits in the divergence between BTC’s dollar-denominated spot price and its price adjusted for the cost of long-duration capital, or the 30-year yield. Bitcoin’s spot price rose to $126,000 in 2025, well above the previous cycle’s high of nearly $70,000. But priced against the 30-year yield, it did something it had never done before: it fell well short of its 2021 high, breaking a pattern of setting a new peak, on this measure, every cycle since inception.
BTC-to-U.S. 30-year yield. (TradingView)
Additionally, that same ratio has now completed a head-and-shoulders breakdown, one of the more potent bearish patterns in technical analysis.
The pattern is defined by three peaks separated by pullbacks, with the middle peak the highest, loosely resembling the outline of a “head flanked by two shoulders.” A move below the line connecting the pullbacks between those peaks, the neckline, is what confirms the pattern. The BTC/30-year yield ratio has done exactly that.
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Tether said in March that it had hired a “Big Four” accounting firm to conduct its first full audit. KPMG is one of the Big Four, the group of accounting giants that also includes Deloitte, EY and PwC and audits many of the world’s largest companies.
KPMG examined Tether’s transactions, systems, valuations, counterparties and ownership records, according to the company. Auditors also physically counted and inspected its gold bars.
Tether has repeatedly promised a full audit while relying on reserve attestations, leaving critics asking why a company of its size hadn’t undergone the same level of scrutiny common among large financial firms.
Concerns about the stability and backing of its USDT token, a key piece of infrastructure for crypto trading and markets, have surfaced from time to time as a potential systemic risk for digital assets. The recurring debate became so familiar in crypto circles that it earned its own shorthand as “Tether FUD.”
The stakes have only grown as USDT swelled to over $180 billion in market capitalization, while Tether has become a major buyer of U.S. government debt for reserve assets.
“For years, some detractors said an audit of Tether could not be completed,” CEO Paolo Ardoino said in a statement.
Bitmine Immersion Technologies, the largest corporate Ether holder, surpassed 5 million Ether in staked tokens, which will generate an estimated $257 million in annualized revenue, according to a company announcement on Monday.
Ether (ETH) staking is emerging as an important revenue stream that generated about 98% of Bitmine’s revenue for the fiscal quarter ending May 31, or $45.7 million of the company’s $46.5 million, analysts from Bitfinex exchange told Cointelegraph, adding:
“It funds operations and its share buyback program: 19.1 million shares repurchased since July against a $4 billion authorisation, without Bitmine having to sell any Ether.”
Ether treasury companies are facing growing unrealized losses as their margins are pressured by the decline in Ether’s spot price, which fell roughly 23% during the second quarter of 2026.
SharpLink, the second-largest Ether treasury company, reported a net loss of $394 million for the second quarter of 2026, largely driven by $391 million in unrealized crypto losses.
Bitmine ranks as the largest corporate Ether holder with 5.54 million ETH, currently worth $9.4 billion. SharpLink ranks second, with 863,000 Ether, currently valued at $1.46 billion, according to data from the StrategicEthReserve.
Ether emerges as new treasury asset despite staking revenue risk
Bitmine’s staking milestone demonstrates how Ether can generate native yield as a treasury asset while Bitcoin (BTC) is mainly viewed as a balance sheet appreciation asset, according to Alvin Kan, chief operating officer at Bitget Wallet.
While Bitmine’s staking revenue may encourage more crypto-native companies to adopt Ether as a treasury asset, this is not risk-free income, Kan told Cointelegraph, adding:
“The revenue is annualized, depends on ETH price and staking yield, and comes with operational, liquidity, validator and regulatory considerations.”
This makes Ether staking more akin to a yield-bearing enhancement to treasury strategy, rather than a “replacement” for disciplined capital management, explained Kan.
Related: EToro to buy TradeZero as Q2 crypto revenue falls 30%
Still, the recurring staking income acts as a “buffer” to Ether’s price fluctuations and ensures “topline predictability that can be valued without regard to spot ETH price,” wrote Yiannis Zourmpanos, a contributor to Seeking Alpha, in a July 28 report.
Ether staking currently pays a 2.61% annual percentage rate (APR). Over 34% of the total Ether supply is currently staked across 897,064 validators, according to data on the Validatorqueue dashboard.
Magazine: Ethereum’s EEZ could pull other blockchains into its orbit
Kalshi, which raised $1 billion in May at a $22 billion valuation, is now the number one prediction market platform by revenue, followed by Polymarket, which was last reported to be seeking funding at $20 billion, following a $600 million investment from the Intercontinental Exchange, the owner of the New York Stock Exchange, at a $15 billion valuation in August.
Kalshi’s annualized revenue increased to $4 billion in July, bolstered mostly by 2026 World Cup betting. Polymarket’s revenue was only $1.1 billion for that same period. Sequoia Capital recently said Kalshi “now claims 95% U.S. market share in prediction markets.”
Most of Kalshi’s revenue comes from sports contracts, which contribute to over 80% of its volume. Kalshi announced Wednesday that Jeff Bandman, the lawyer who helped Kalshi secure a license to be a CFTC-regulated exchange in 2020, is returning to Kalshi as CEO of Kalshi Prime, which serves customers of Kalshi’s margin perpetual futures business.
Neither Sequoia, Wellington nor Kalshi immediately responded to a CoinDesk request for confirmation.
Russia’s central bank has compiled a proposed list of crypto assets that could be admitted to public trading on exchanges under new rules approved last week.
The list includes Bitcoin, Ether and Tether’s stablecoin USDT, the Bank of Russia said Tuesday, adding that the assets meet criteria including market capitalization, average daily trading volume and at least five years of price history on overseas markets.
The proposal follows a new law, signed by President Vladimir Putin on Aug. 4, that gives the Bank of Russia authority to determine which digital currencies can be admitted to organized trading and set related rules.
Under the rules, non-qualified investors could buy up to 300,000 Russian rubles ($3,650) worth of cryptocurrency per year through each intermediary, including a broker, crypto exchange service or asset manager. Qualified investors would face no purchase limits for crypto assets traded on exchanges or over-the-counter markets.
“Before making transactions, all investors, regardless of their status, will have to pass a test and familiarize themselves with the risks of investing in crypto assets,” the Bank of Russia said.
The central bank said the restrictions are designed to protect non-qualified investors from sharp and unpredictable fluctuations in crypto prices. The regulator is accepting comments on the proposal until Aug. 24.
Related: Russia cracks down on 9 crypto exchanges in Moscow City
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Cointelegraph is committed to providing independent, high-quality journalism across the crypto, blockchain, AI, and fintech industries.
All news, reviews, and analyses are produced with full journalistic independence and integrity. For more details on our standards and processes, please read our Editorial Policy.
More than three dozen bitcoin and crypto companies have asked the largest AI labs to give open-source security researchers early access to their most capable models, arguing that the people defending a trillion dollars of infrastructure are working with weaker tools than those attacking it.
The letter, organised by the Bitcoin Policy Institute and published earlier this week, is signed by Coinbase, Block, BitGo, Blockstream, Anchorage Digital, ARK Invest, Bitwise, Foundry, Casa, Exodus and others, alongside nonprofit developer funds including Brink, Chaincode and Btrust.
Its central complaint is that Bitcoin Core developers, the small group maintaining the software that runs the network, cannot access the programs’ labs run for trusted security partners.
When they turn to publicly available models instead, the safety filters designed to stop people from writing malware also block efforts to find flaws before criminals do.
That leaves them on open-weight models, which can be freely downloaded and are generally less capable.
Attackers face none of those constraints. The letter said the labs and a handful of partners can see new offensive capabilities months before anyone else. In contrast, those capabilities spread anyway through public models, stolen access to corporate systems and purpose-built hacking tools.
