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forklog.media Google Employee Accused of Insider Betting on Polymarket

US authorities have accused Google engineer Michele Spagnuolo of using confidential corporate information to place 25 bets on Polymarket, amounting to $2.7 million. According to the Department of Justice and the CFTC, the account AlphaRaccoon earned approximately $1.2 million. The charges include commodities fraud, wire fraud, and money laundering.

forklog.media Quantus Highlights Crypto Market’s Unpreparedness for Quantum Threat

The cryptocurrency industry is unprepared for the transition to post-quantum cryptography, despite advancements in such computations, according to developers at Quantus. The project team released a study titled "The State of Quantum: What Crypto Can’t Afford to Ignore," reviewed by ForkLog. It states that wallets, exchanges, custodians, validators, bridges, and governance systems are at risk. Source: ForkLog. A significant portion of the market still relies on classical signature schemes—ECDSA and Ed25519. Theoretically, Shor's algorithm would enable quantum computers to breach such systems once they achieve sufficient power. In August 2024, NIST finalized the first post-quantum cryptography standards—ML-KEM and ML-DSA. These are positioned as a response to the impending collapse of the classical approach. Blockchains More Complex Than Traditional IT Experts at Quantus assert that the crypto market faces stricter constraints than conventional IT infrastructure. In centralized services, cryptography can be updated via a patch. In blockchains, user fund storage, distributed governance, and public keys can remain on the network for years. The report mentions a "harvest now, decrypt later" scenario: data is collected today to decrypt later when sufficiently powerful quantum machines become available. Quantus CEO and CTO Christopher Smith stated that the industry will not have a "clear alarm signal" before the hypothetical Q-Day. "The crypto market needs to build infrastructure in advance, not under pressure," he said. There is currently no timeline for the emergence of quantum computers capable of breaking modern schemes. In May, IBM Quantum's global sales director Petra Florisun stated that quantum computing is moving beyond laboratory experiments and beginning to be applied to real-world tasks. Impact on Bitcoin A separate section of the study is devoted to Bitcoin. Quantus claims that a standard transaction of the first cryptocurrency with ECDSA uses about 97 bytes for the signature and public key. The ML-DSA-87-based variant increases the size to approximately 7187 bytes. A direct transition to post-quantum signatures without changes to the network architecture, according to the authors, would drastically reduce the number of transactions per block. The report also mentions BIP-360—a proposal for migrating the Bitcoin blockchain to quantum protection. The document describes the Pay-to-Merkle-Root format as a step to mitigate key exposure risks. The authors of BIP-360 noted that the proposal does not address all issues. Questions remain about wallet compatibility, block space load, and the fate of old addresses. Quantus' Own Solution The project claims that post-quantum cryptography forms a new version of the "blockchain trilemma": large signatures impact scalability, and privacy adds additional costs. Quantus suggests offloading part of the burden outside the main chain through ZK mechanisms. The document mentions Wormhole Addresses, Plonky2, STARK-like proof aggregation, and Poseidon2. IT Giants Already Moving The report provides examples of major tech companies transitioning to post-quantum protection: Signal with the PQXDH protocol; Google with the hybrid X25519Kyber768 in Chrome; Apple with the PQ3 system for iMessage. Quantus concludes that mass consumer services have begun preparing for the post-quantum era ahead of much of the crypto market. In April, Lightning Labs' CTO Olaoluwa Osuntokun introduced a prototype tool for protecting Bitcoin wallets from potential quantum attacks.

blockmanity.com Hyperliquid’s Bold Path Forward: Why It Could Emerge as a DeFi Trading Giant

Hyperliquid’s Bold Path Forward: Why It Could Emerge as a The world of decentralized finance keeps moving fast. One project catching attention is Hyperliquid. It stands out with its focus on perpetual futures trading and a custom blockchain built for […] The post Hyperliquid’s Bold Path Forward: Why It Could Emerge as a DeFi Trading Giant appeared first on Blockmanity.

forklog.media Bitcoin Falls Below $73,000 Amid Middle East Conflict Escalation

The price of the leading cryptocurrency fell to $72,804, marking its lowest level since mid-April. The market reacted to news of new U.S. strikes on Iranian military sites. Hourly chart of BTC/USDT on Binance. Source: TradingView. At the time of writing, the coin's price had recovered to $73,013. The second-largest cryptocurrency by market capitalization fell by 4.7% over the day and is trading at $1,984. Hourly chart of ETH/USDT on Binance. Source: TradingView. Over the past day, the total market capitalization of digital assets shrank by approximately $80 billion. The volume of forced liquidations reached $932.42 million. Source: CoinGlass. The cryptocurrency sentiment index dropped to 22 points, entering the extreme fear zone. Source: Alternative Bitcoin at $70,000 Michael Kramer, founder of Mott Capital Management, warned of a possible decline in the leading cryptocurrency's price to $70,000. He stated that the market would be pressured by a significant withdrawal of liquidity from the U.S. financial system.  Between May 28 and June 4, the U.S. Treasury will conduct a series of debt settlements totaling approximately $150 billion.  Kramer noted that Bitcoin often serves as a leading indicator of liquidity. When the department sells securities, funds move from the banking system to Treasury accounts at the Fed, reducing the amount of capital available for risky assets. Impact of Macroeconomic Data Nick Ruck, Director of Research at LVRG Research, commented to Cointelegraph that investors are pricing in geopolitical risks and potential disruptions in oil supplies.  According to him, during periods of uncertainty, Bitcoin and Ethereum continue to behave as high-risk assets. Traders are currently concerned about the escalation of the conflict, which could impact inflation and Fed policy. The negative trend is exacerbated by declining liquidity and forced closure of margin positions.  Amid the escalation of the Middle East conflict, energy prices have risen: WTI crude oil exceeded $92 per barrel, while Brent rose to $98.  On May 25, the price of the leading cryptocurrency rose above $77,000 amid falling oil prices.

bitcoinist.com Altcoin Rotation Continues Despite Weak Bitcoin And Market Uncertainty

The altcoin market is showing signs of activity after months of selling pressure and uncertainty that have left most participants either exhausted or disengaged. The broader environment remains difficult — but CryptoQuant data has identified a behavioral divergence beneath the surface that suggests not everyone has given up on the altcoin sector, and the participants […]

news.bitcoin.com Porter Stansberry Warns of US Financial Collapse by 2029 on Pompliano Podcast

Financial analyst and Stansberry Research founder Porter Stansberry has told Anthony Pompliano that the U.S. is heading toward a sweeping monetary reset by 2029, pointing to Social Security’s structural collapse, accelerating dollar debasement, and more. Stansberry’s Case for a 2029 Financial Reckoning Stansberry’s thesis is rooted in what he calls the “Fourth Turning,” a generational […]

cryptobriefing.com Airwallex relocates staff from China amid security allegations over ‘backdoor’ access to US data

Airwallex's staff relocation highlights growing tensions over data security, impacting US-China tech relations and raising national security concerns. The post Airwallex relocates staff from China amid security allegations over ‘backdoor’ access to US data appeared first on Crypto Briefing.

forklog.media Google Employee Accused of Insider Betting on Polymarket

US authorities have accused Google engineer Michele Spagnuolo of using confidential corporate information to place 25 bets on Polymarket, amounting to $2.7 million. According to the Department of Justice and the CFTC, the account AlphaRaccoon earned approximately $1.2 million. The charges include commodities fraud, wire fraud, and money laundering.

news.bitcoin.com South Korea Files First Criminal Case Over DEX Rug Pull, Indicts Five in Solana Meme Coin Scheme

South Korean prosecutors have arrested and indicted five suspects in what authorities say is the country’s first criminal case targeting a rug pull on a decentralized exchange, with the alleged scheme leaving 256 investors with approximately $600,000 (900 million won) in combined losses. CATFI, a Fake Influencer, and a DEX Exit The case centers on […]

bitcoinist.com Coinbase’s Base Unveils New Infrastructure For AI-Controlled Crypto Wallets

Only $1.1 million in transaction volume has passed through Coinbase’s x402 payment protocol in the past 30 days. That number tells a lot about where AI-driven crypto payments actually stand right now. Related Reading: Crypto PACs Flex Political Muscle In High-Stakes Texas Runoffs A New Layer For Crypto Transactions Base, the Ethereum layer-2 network operated […]

cryptobriefing.com US military strikes Iran as Gulf hostilities escalate, shares retreat and crypto markets brace for impact

Escalating US-Iran tensions could strain global markets, impact oil prices, and influence monetary policy, affecting investor strategies. The post US military strikes Iran as Gulf hostilities escalate, shares retreat and crypto markets brace for impact appeared first on Crypto Briefing.

news.bitcoin.com Falcon Unveils GENIUS-ready fUSD Stablecoin Backed by Anchorage Digital Bank

Falcon Finance has introduced fUSD, a fully reserved stablecoin issued by Anchorage Digital Bank and designed for institutional settlement, collateral, and treasury use. The product includes a rewards structure targeting about 3% annually for qualifying institutional holders. fUSD Offers Regulated Stablecoin With Monthly Rewards for Institutions Falcon Finance has unveiled fUSD, a stablecoin aimed at […]

bitcoinist.com Chainlink’s Biggest Holders Are Quietly Repositioning – Binance Data Reveals Why

Chainlink is trading below $10 as the market faces a critical test around support levels that have held through weeks of sideways price action without delivering the breakout bulls have been waiting for. The price is under pressure — but top analyst Darkfost has identified a signal in the exchange flow data that suggests the […]

news.bitcoin.com FBI Pulls $40M in Gold Bars From CIA Official’s Fairfax County Home in Theft Case

A senior CIA official with top-secret clearance was arrested May 19, 2026, after FBI agents pulled 303 one-kilogram gold bars, roughly $2 million in cash, and about 35 luxury watches, many of them Rolexes, from his Fairfax County, Virginia, home. Senior CIA Official David Rush Faces Federal Theft Charge David Rush, who held a senior […]

bitcoinist.com XRP Traders Face Mounting Pressure As Sideways Price Action Extends – What To Know

The broader cryptocurrency market is experiencing heightened volatility, causing XRP’s price to retest support levels such as $1.33. With the altcoin experiencing steady downside movement, this move has introduced serious pressure on investors and traders as they endure losses from their positions. Waning XRP Price Movement Intensifies Pressure On Traders XRP traders are experiencing pressure […]

bitcoinist.com Crypto Protection, CFTC Exclusivity Over Prediction Markets: What Trump Said In His Latest Statement

President Donald Trump is doubling down on his goal of making the United States the “crypto capital of the world,” while also weighing in on a growing national fight over who should regulate prediction markets.  Trump Says CFTC Rules Will Help Crypto ‘Thrive’ In a new statement shared Tuesday on Truth Social, Trump said it […]

cryptobriefing.com US forces shoot down Iranian drones, conduct strikes in southern Iran as Bitcoin drops below $77K

Heightened geopolitical tensions and increased sanctions enforcement could lead to sustained market volatility and stricter crypto regulations. The post US forces shoot down Iranian drones, conduct strikes in southern Iran as Bitcoin drops below $77K appeared first on Crypto Briefing.

cryptobriefing.com Islamic Revolutionary Guard Corps strikes US air bases across Middle East, warns of stronger retaliation

Escalating tensions could destabilize global markets, impacting crypto volatility, energy prices, and regulatory scrutiny on digital assets. The post Islamic Revolutionary Guard Corps strikes US air bases across Middle East, warns of stronger retaliation appeared first on Crypto Briefing.

blockmanity.com Lockhart Texas Cracks Down on Crypto Mining With New Zoning Rules

Lockhart Takes Action on Future Data Centers and Crypto Mining The city of Lockhart in Texas is moving forward with new rules to control where data centers and cryptocurrency mining facilities can be built. This step comes as more communities […] The post Lockhart Texas Cracks Down on Crypto Mining With New Zoning Rules appeared first on Blockmanity.

news.bitcoin.com UK Sanctions Strike Russia-Linked Crypto Networks in Sweeping Crackdown

Crypto exchanges face new U.K. enforcement pressure after Britain targeted Russia-linked sanctions-evasion networks using digital assets. The package names 18 exchanges, banks, payment providers, corporate entities, and individuals tied to crypto and financial channels. Crypto Exchanges Face UK Regulation 17A Action Britain announced on May 26 a sanctions package aimed at crypto routes used to […]

cryptobriefing.com Justin Clements: The pest control industry needs a tech overhaul, integrating services with property management boosts efficiency, and preventative measures ensure long-term success | SaaS Interviews

PestShare's innovative integration with property management software revolutionizes the outdated pest control industry. The post Justin Clements: The pest control industry needs a tech overhaul, integrating services with property management boosts efficiency, and preventative measures ensure long-term success | SaaS Interviews appeared first on Crypto Briefing.

cryptobriefing.com Pete Koomen: AI as a foundational layer enhances organizational intelligence, empowering finance teams with internal tools, and LLMs democratizing data access for non-technical users | Y Combinator Startup Podcast

AI tools at YC empower non-tech users to manage complex data, bridging the gap in modern practices. The post Pete Koomen: AI as a foundational layer enhances organizational intelligence, empowering finance teams with internal tools, and LLMs democratizing data access for non-technical users | Y Combinator Startup Podcast appeared first on Crypto Briefing.

bitcoinist.com CFTC Reexamines Gemini Case And Asks To Erase 2025 Settlement

On Wednesday evening, the US Commodity Futures Trading Commission (CFTC) announced it had joined Gemini (GEMI) in requesting that the court grant relief from the judgment in the regulator’s case against the exchange, filed back in 2022.  The CFTC said it carried out a thorough reexamination of the matter, looking back at the investigation’s history, […]

bitcoinist.com This Bitcoin Index Just Entered The High Risk Territory As Price Stalls

A market analyst has issued a fresh warning on Bitcoin (BTC), pointing to a shift in the cryptocurrency’s risk index as it moves back into a high-risk zone. The update comes as key price levels are broken and signs of weakness begin to emerge, raising concerns that BTC’s recovery may be losing momentum and a […]

news.bitcoin.com BTC Volume Collapse Echoes Setup Before 2023 Bullish Recovery

BTC spot volume has plunged across major exchanges, reviving comparisons with the late-stage bear market conditions that preceded the 2023 recovery. Binance activity fell from $198.6 billion to $36.4 billion, part of a broad market slowdown. Volume Collapse Revives 2023 Bitcoin Cycle Comparison On-chain and market data analytics platform Cryptoquant shared an insight on May […]