Polylog
The Polylog Crypto Intelligence Brief

Morning Edition · Wednesday, July 29, 2026

Senate Shelves CLARITY Act Before Recess as SEC Says It Will Write Crypto Rules Itself

Crypto

Senate Shelves CLARITY Act Before Recess as SEC Says It Will Write Crypto Rules Itself

Bitcoin fell about 3 percent to near 63,270 dollars as the market-structure bill received little Senate floor time, even as BlackRock, Fidelity and Goldman Sachs publicly endorsed it.

3 sources
Corroborated
On-Chain Theft Reached 1.1 Billion Dollars in First Half as Reward-Vault Exploits Continue

Crypto

On-Chain Theft Reached 1.1 Billion Dollars in First Half as Reward-Vault Exploits Continue

Blockaid counted 212 incidents through June, with stolen keys now overtaking contract bugs, while fresh self-dealing attacks drained a token contract of about 605,000 dollars.

3 sources
Ethereum Privacy Projects Reframe Confidentiality as the Condition for Banks to Go On-Chain

Crypto

Ethereum Privacy Projects Reframe Confidentiality as the Condition for Banks to Go On-Chain

EthSystems spun out of the Ethereum Foundation to build privacy infrastructure for banks, as Aztec's Alpha V5 network cut private-transaction proving times by more than half.

3 sources
Anthropic Says Claude Found a Real Weakness in a Post-Quantum Signature Under US Review

Tech

Anthropic Says Claude Found a Real Weakness in a Post-Quantum Signature Under US Review

The model broke a 256-bit version of the HAWK candidate in about 60 hours for roughly 100,000 dollars, and separately sped up an attack on a reduced version of the AES cipher.

2 sources
Corroborated
A Single Anomalous Trade Crashed a Tokenized SK Hynix Perp 20% and Liquidated 57 Million Dollars

Crypto

A Single Anomalous Trade Crashed a Tokenized SK Hynix Perp 20% and Liquidated 57 Million Dollars

The oracle for Hyperliquid's HIP-3 market read a single off-exchange trade 30 percent below the prior close, and Trade.xyz says it will cover eligible losses.

3 sources
Ethereum Researchers Turn to Mechanism Design to Kill Oracle-Extractable Value at the Source

Tech

Ethereum Researchers Turn to Mechanism Design to Kill Oracle-Extractable Value at the Source

New proposals aim to eliminate the value that arbitrageurs extract from oracle updates through state synchronization, part of a shift toward coordination design as the field's frontier.

3 sources
Russia's Central Bank Publishes Draft Crypto-Trading Rules Ahead of a Fall Framework

Geopolitics

Russia's Central Bank Publishes Draft Crypto-Trading Rules Ahead of a Fall Framework

Digital-asset platforms would need to hold up to about 2.8 million dollars in liquid capital under depository rules that keep custody inside licensed institutions.

2 sources
Corroborated
Ondo Abandons Its Public Tokenization Blockchain for a Private High-Speed Trading Network

Crypto

Ondo Abandons Its Public Tokenization Blockchain for a Private High-Speed Trading Network

The reversal powers the firm's new perpetual-futures platform and signals that some tokenization ventures prefer controlled venues to open, composable chains.

1 source
ARK Researcher Expects More Crypto Bankruptcies and Shutdowns as Revenue Concentrates

Crypto

ARK Researcher Expects More Crypto Bankruptcies and Shutdowns as Revenue Concentrates

Lorenzo Valente says falling volumes and rising compliance costs will push consolidation onto a shrinking group of dominant platforms.

1 source
Federal Judge Blocks Minnesota's Prediction-Market Felony Law Days Before It Took Effect

Crypto

Federal Judge Blocks Minnesota's Prediction-Market Felony Law Days Before It Took Effect

Kalshi and Polymarket can keep serving Minnesota users while courts decide whether their event contracts are gambling or federally regulated derivatives.

1 source
Bitcoin Treasury Firms Keep Buying as a New Metric Reframes the Case for Preferred-Stock Buybacks

Markets

Bitcoin Treasury Firms Keep Buying as a New Metric Reframes the Case for Preferred-Stock Buybacks

Core Scientific and Hyperscale added coins in the second quarter, while Strategy's STRC buyback math shifts the debate to net Bitcoin per share.

3 sources
Fake Wallet Apps and Seed-Phrase Malware Widen Crypto's Endpoint Attack Surface

Tech

Fake Wallet Apps and Seed-Phrase Malware Widen Crypto's Endpoint Attack Surface

A lawsuit says an App Store-promoted fake Bitcoin wallet stole 1.8 million dollars, while the SparkKitty malware harvests seed phrases from iOS and Android apps.

2 sources