The Polylog Crypto Intelligence Brief

Morning Edition · Saturday, August 15, 2026

Crypto

US Comptroller Grants Trump-Linked World Liberty Preliminary Approval for a National Trust Bank

The charter would let World Liberty Trust Company issue and redeem its USD1 stablecoin and hold the reserves itself, subject to a $20 million capital requirement and a ban on taking insured deposits.

4 sources
Corroborated

Crypto

Ethereum Researchers Drop the Poseidon Hash From the Chain's Next Base Layer

Justin Drake, an Ethereum Foundation researcher, said proof systems built over binary fields can now prove roughly a million conventional hash calls per second, removing the case for running a specialized, less-studied hash inside Ethereum's future proving stack.

3 sources

Crypto

Aztec Discloses a Critical Flaw in the Proving System Behind Its Live Privacy Network

Contributors said internal review assisted by artificial intelligence found on July 27 that an attacker could construct a proof that verifies a transaction the network should reject, six days after the V5 mainnet alpha went live.

4 sources
Corroborated

Crypto

Ripple's $550,000 Audit Contest Found Two Critical Bugs in XRP Ledger Features Before Release

Reviewers logged 2 critical, 6 high, 29 medium and 59 low findings across five unreleased features, and $309,000 of the prize pool in Ripple's RLUSD stablecoin was paid out.

3 sources
Corroborated

Crypto

SEC Cancels Its First Crypto Rulemaking Vote One Day Before It Was Scheduled

The agency gave no new date, and shares of Coinbase, Circle and Bullish fell as the delay tied the proposed rule to a market-structure bill stuck in the Senate.

4 sources
Corroborated

Crypto

This Year's Largest Crypto Losses Ran Through Keys and Signers Rather Than Broken Contract Code

Rekt's review of the first half puts the Coldcard seed failure at about $116 million, a validator-signature bridge drain at AFX Trade at $24.15 million and a second VerusCoin bridge loss at $7.54 million, all in components that behaved as specified.

4 sources
Corroborated

Crypto

Miden Puts Recovery and Compliance Controls Under Private Accounts as Privacy Chains Court Institutions

Guardian, designed with Miden and built by OpenZeppelin, coordinates private multi-signature approval, backup and account recovery without a custodian, with mainnet expected in the third quarter.

3 sources
Plausible

Crypto

CyberWallet Closes Its Interface, Leaving Holders to Withdraw by Calling Contracts Directly

Cyber says tokens remain on-chain after the August 15 cutoff, but recovery then requires direct contract interaction and the team will provide no support.

3 sources

Crypto

A Bitcoin Treasury Holding 1,145 BTC Reported $5,397 in Cash as MSCI Weighs Excluding the Model From Its Indexes

CIMG disclosed a $7.38 million working-capital deficit on August 13, while Strategy told MSCI (Morgan Stanley Capital International) that index providers should measure markets rather than decide which assets companies may own.

4 sources
Corroborated

Crypto

KPMG Signs Off on Tether's First Full Financial Audit With a $6.8 Billion Reserve Surplus

The auditor issued an unqualified opinion on the 2025 statements of the company that issues USDT and physically counted its gold bars.

3 sources
Corroborated

Crypto

JPMorgan Dropped Polymarket as a Banking Client Ahead of a White House Meeting With Prediction-Market Executives

The Wall Street Journal reported the bank ended the relationship in October 2025 over regulatory concerns, days before an August 19 gathering expected to include Coinbase, Ripple, a16z, Chainlink and Paradigm.

4 sources
Plausible

Crypto

Sovereign Funds and Advisers Disclose Bitcoin Positions as Spot ETFs Post Another Week of Outflows

Mubadala reported a $490 million bitcoin exchange-traded fund stake and Norway's sovereign fund held $81.87 million of BitMine shares, while $389.7 million left United States spot bitcoin funds over the week.

6 sources