ilqdty daily2 min readRead the latest
ledger wallets sold through a reseller had a hidden chip inside that texted seed phrases out over LTE, and $93M is gone
Source@CoinDesk
nobody has said how many boxes shipped.
| Markets | Level | 24h | week |
|---|---|---|---|
| $BTC | 83,292 | +1.8% | -2.6% |
| $ETH | 2495.6 | +2.0% | -7.5% |
| $SOL | 106.3 | +0.6% | -11.9% |
| BTC.D | 59.8% | ||
| F&G | 57 greed |
01Crypto4 stories
- jeonbuk bank wrote south korea's first bitcoin-backed loan from a licensed lender@CoinDesk
- the xrp ledger patched a bug from 2015 that could mint xrp past its supply capDecrypt
- a uk court ruled chinese law decides who owns 61,000 seized bitcoin@Cointelegraph
- south korea moved to block 27 unregistered sites, kucoin and mexc included@Cointelegraph
02Macro2 stories
03Trends3 stories
- pumpfun took $2.20M of fees on solana yesterday, and the ten coins trending there traded $53M between them
- papertrade booked $32.5M of fees in seven days off chain against hyperliquid's $17.2M, and nothing the week beforeDefiLlama fees
- on solana $HIRE is doing $10.7M of volume on a $0.5M market cap, up 14081%, while $STONK, the biggest of that trending group at $97.6M, is down 22%
04Today2 stories
- jpmorgan, goldman, citi and wells fargo report third-quarter results before the us open, the first read on loans, trading and credit losses
- september cpi lands tomorrow at 8:30 AM ET, previews at 3.6% to 3.7% against 3.4%, the fed's main input for its late october meeting
05My view
a hidden chip in a hardware wallet usually sends people straight back to exchanges. this morning the opposite also printed. a korean regional bank started lending against bitcoin, so a licensed lender has decided it can hold the collateral itself.
the risk i'm tracking is the price of money. the ten-year sits at 5.24% while the imf warns about a disorderly move in yields. it resolves on a clock, cpi tomorrow morning and the treasury reopening the ten-year that afternoon. a weak bid there reprices long-duration assets, coins first.
what flips my read on ledger is the box count, and nobody has published it yet. buyers have today, with the whole board green while the long end stays this expensive, and a market that climbs against that has demand behind it.
the banks open their books before the bell and cpi follows tomorrow. those two set the price of money for the rest of october. lock in.